Business Transformation – Customer Redress Programme at CPP Group
CPP Group plc is a global financial assistance product provider, listed on AIM. They operate a business-to-business-to-consumer (B2B2C) model specialising in developing and delivering high-tech assistance solutions for the customer through Business Partners and direct to consumer.
From 2011 Russam assisted the business following an FSA investigation into product mis-selling and through a customer redress scheme that concluded in 2016.
The situation had a high media profile; with the FSA stating that CPP’s referral partners – including the high street banks – would also be investigated and that the number of consumers affected by this mis-selling scandal could be significantly higher.
Russam assembled and installed a transformation team to work with CEO Brent Escott. Its objective was to form the nucleus of a leadership team to transform the organisation. The team’s roles included:
- Interim Group COO
- Interim IT Transformation Director
- Interim Programme Director
- Interim Risk Management Director
- Plus a NED role to chair the audit committee
Implementation of a new IT platform and operating model, with the aim to deliver the highest possible level of customer service from a unified global operating platform, meeting all legal and regulatory obligations.
Confidence from the regulator and delivery of a new risk management framework
CPP was awarded ‘turnaround of the year’ award for its transformation journey by the Institute for Turnaround.