In April 2023 the NACFB announced the introduction of an assurance process for members.
This is how the NACFB described their enhanced review process.
The new NACFB Assurance Consultation will repositions the Association’s established Minimum Standards Review (MSR). It is designed to empower each Member with bespoke certification and documentation that attests to their professional integrity.
Commenting on the Association’s new era of greater empowerment for Members, NACFB Chair Paul Goodman, said: “The transition for existing Members will be seamless; they will soon benefit from the advantages of being able to demonstrate much more easily and clearly what being part of the NACFB community means.
“SME clients and commercial lenders alike seek assurance that the intermediaries they partner with can demonstrate business integrity, a robustness of processes, and regulatory adherence. The NACFB is providing exactly this, in a manner that empowers Members whilst bolstering the trade body’s growing national reputation for excellence,” Paul added.
“Within the Association we can attest to the professionalism of our membership, but for some, there was a perception that we were acting as a quasi-regulator. However, those who partnered with our team quickly understood the value that the reviews brought. We also recognised that we needed to do a better job of empowering our Members to tell this story through the lens of their own business,” Norman added.
The team at Lily Head Finance were recently notified by the NACFB that they had met all the criteria to gain Assured Status.
Martin How (MD of Lily Head Finance) said ‘I am delighted that after a strenuous Assurance Consultation carried out by a Member of the NACFB team that Lily Head Finance had achieved NACFB Assured Status’.
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