Risk and Compliance Management
George Street is able to offer a range of bespoke and tailored risk management services to Investors, Funders and FM Providers alike. Our expert and meticulous approach enables us to identify any risks and non compliant activities and our action plans provide the tools with which to ensure corrective actions are implemented and maintained.
FM Operational Reviews
The key objective of this Review is to assess the extent to which the FM Provider is complying with its statutory and contractual obligations and to identify any risks as a consequence of any failure to meet such obligations. To do this we undertake a forensic analysis of all FM Provider responsibilities, analysing their processes, methods of work, systems and monitoring regimes. We will walk the site, review documentation, seek evidence of systems and procedures in operation and interview key members of the FM team. We will carry out a detailed audit of all technical issues including the PPM regime, statutory compliance, Good Industry Practice and, where relevant, HTM’s. On completion of our review we will provide an extensive Report which will incorporate a comprehensive Action Plan and Statutory Compliance Schedule, giving the SPV and the FM Provider the tools to implement and monitor corrective actions.
Payment Mechanism / Helpdesk Reviews
This Review is included as part of an FM Operational Review but is also offered as a stand-alone service. Here we undertake a desk-top and in-situ review of the FM Providers monitoring and reporting regime, our aim being to provide Investors with an assessment of the extent to which the FM Provider is complying with its self-reporting obligations and to identify any potential risks associated with current practices.
In assessing this we will review, as a minimum, the following:
Project Agreement and FM Contract
Service Level Specification and Payment Mechanism
CAFM System architecture; call categorisation procedure, status updates
Helpdesk Call Logs and Deduction Reports
Performance Monitoring Reports
‘Relief Procedures’; Temporary Repair, Excusing Causes, ‘denied access'.
On completion of our review we will provide a bespoke Improvement Plan highlighting not only the non-compliances identified but our recommended corrective actions.