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Implementation Group

Implementation Group

Scope

  • To review the target reportable MI to identify key reporting areas based on the accreditation process and compliance with the SLAs.
  • To establish an appropriate approach and timeline to deliver the full MI.
  • In addition, they will provide consideration of any changes requested to the process capture document, escalating to the Steering Group where required.

Deliverables

  • An appropriate approach and timeline to deliver the reportable MI.
  • A triage function for any change requests received.

Output

  • A delivery approach document.
  • Any agreed change requirements.
  • Documented risks, issues, assumptions, dependencies or change requests raised as required.

Participation

Participation in the Implementation Group is on an invitation only basis, restricted to members or confirmed prospective members of STAR.

Management Information

Participating STAR members are required to provide MI that will form the basis of their accreditation. This will enable STAR to gather information that will help customer transfer journey time expectations to be set.

STAR’s current focus is collecting Initial MI that will provide a view of a firms current performance. This reporting will focus on those transfers that have been initiated “electronically”.  “Electronically” is defined as initiated using an electronic messaging set (not, for example by email) at a portfolio level or asset manager transfer instruction.

Further Full MI requirements have been documented that allows the reporting of all in scope transfers, at a level that best reflects an individual organisation’s performance within the Transfer Journey.  The STAR Steering Group has agreed a checkpoint in Q1 2022 to consider the Full MI.    

These requirements are set out in the following MI documents. 

Core MI requirements
ISA and GIA
Personal Pension, SIPP and SSAS
Occupational Pensions

Full MI requirements
Asset Manager and Transfer Agents

Communication Principles

Participating STAR members are expected to meet these minimum good practice communication principles, which form part of the supplementary accreditation information.

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