The Loan Market Way Audit Program

You know The Loan Market Way, it’s our BID-ready time-saving process to ensure you and your business are safe when Best Interests Duty comes into effect in 2021. Now, we are rolling out the new Loan Market Way Audit Program to provide you with support and feedback.

The new audit program at a glance:

  • Designed to match the steps of The Loan Market Way 
  • Every file will be reviewed in line with Best Interests Duty legislation
  • You’ll be applauded for things you do well and provided with thorough and useful feedback (that you can action)
  • Between now and December every broker will have a minimum of one file audited under the new program.

Frequently Asked Questions.

You may have questions about the new Audit Program? Download the FAQs here.

Three types of audits.

There are three types of The Loan Market Way audits, so you can be confident that your business is always protected. 

  • Standard Audit. Every 6-months every broker will have at least 5 files audited by the Loan Market internal audit team. You’ll be provided with a score and thorough feedback. Plus, your Broker Success Manager will walk through the results with you. The Loan Market Way Audit Checklist will be your guide to nailing the audit.
  • At risk Audit. We recognise that every 6-months might be too long between audits for some businesses so the Loan Market internal audit team will be watching data trends to preempt any issues before they arise. Just another reason you can be confident that your business is safe when BID comes into effect.
  • Induction Audit. New to Loan Market? You won’t miss out on the fun. Brokers that have just joined Loan Market will also undergo an Induction Audit, which will be conducted once they’ve reached their sixth month with the group, giving them the opportunity to embrace The Loan Market Way processes and technology.

Handy documents

Training videos. A library of content.

New to the network or looking for engaging training content for your next team training session? Watch these recent 30-minute Thrive sessions.

  • What's next for BID following ASIC's guidance? 

  • BankStatements Compliance and Customer Experience

  • Industry Compliance Update to keep you safe 

  • Audit Mistakes to avoid

  • August Audit Trends revealed