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DBSG Manifests its Growth
To continue its drive to push the interests of the debt sale and purchase insutry to the fore, the DBSG has launched a new manifesto focusing on the three Ps – Public Affairs, Public Relations and Pulling Together.
The Manifesto was agreed at the recent DBSG AGM, which ran alongside the annual CSA and DBSG Conference and Exhibition. The AGM offered the ideal opportunity for members of the debt sale and purchase community to gather together and take stock of progress made by the Group over the past year.
In what have been undoubtedly difficult times for the industry, the Group has responded, working hard to ensure that the interests of the sector are fairly represented by government and regulators and the media alike. Yet there is more to be done, and the 2010 DBSG Manifesto aims to push the group yet further forward, targeting its efforts in three key areas.
As has previously been documented, the DBSG has been making great strides forward in its Public Affairs mission, making sure that the debt sale and purchase industry is considered in new regulation through regular meetings with Government and regulators and lobbying. The manifesto sets out continued engagement on PA activity, and continued close cooperation with government and regulatory bodies.
In terms of public relations and building the media profile of debt sale and purchase, there is a continued need for proactive communication in order to remain on the front foot. Ensuring a constant stream of information from the industry is essential in order for it to be correctly understood and fairly documented in the media and we are setting out a PR Action Plan for 2010 to highlight how vital the debt sale and purchase industry is to UK Plc.
The series of information sheets launched in the summer to underline the key aspects of the sector has already proven to be an excellent tool for those wishing to learn more about the industry. Alongside the proactive output, the group is also engaging closely with UK media, currently backing the CCR petition to get Number 10 to make a positive statement in support of the debt collection industry.
Key in achieving all these objectives is that the industry works together. The DBSG encompasses an extremely broad range of groups with very different interests and priorities, from sellers through to intermediaries, and from credit reference agencies to all major buyers. Despite testing times, membership to the Group has remained consistent, and we need to make sure that we are best placed to take the friction out of the process and work together for the best result.
With this in mind, two DBSG working parties have been formed. The first will focus on data quality, and will be led by Gillian Key-Vice of Experian. The working part will work towards improved access to data for buyers, ensuring greater quality and accuracy of data supplied by creditors. It will work with CRAs to ensure accuracy of data and eradicate incorrect links, and with purchases to ensure they they use data consistently and responsibly.
The Data Quality Working Party will also lobby for full access to the electoral roll for purchasers, to prevent innocent parties from being mistaken for debtors, and will work with the Ministry of Justice to ensure that the period of limitation isn't restricted to three years.
The second working party, led by Sara de Tute, will be Best Practice and Governance. It will focus on the creation of a new DBSG Code of Practice, adding further weight to the document to ensure greater clarity for members. The code will also include new disciplinary provisions to ensure that the Group has the teeth to discipline or expel members if the code of practice is seriously breached. It will also incorporate the requirement for members to undertake training to ensure greater standards across the industry.
Finally the best practice and governance working party will explore the current audit function. A kite-mark for buyers is being considered, and achieving this kite-mark will mean that sellers will have greater trust in the processes and standards of the purchaser, reducing the need for due diligence.
These measures received a very positive response at the DBSG AGM, during which a new committee was also agreed. Personally am very excited at the new make up of the board, some very senior people have joined with excellent experience in the industry which I'm sure will enable the DBSG to meet the challenges ahead.
Original article by Leigh Berkley, courtesy of Credit Management..
