Service Level Agreement (SLA) between the Financial Services Authority and Beneficiaries

Service Level Agreement (SLA) between the Financial Services Authority and Beneficiaries

.1 Introduction This document aims to clarify the Service Level Agreement (SLA) between the Financial Services Authority (FSA) and service beneficiaries, which aims to deliver high-quality services and specific performance standards to ensure transparency, improve user experience, and increase customer satisfaction. .2 Purpose and Scope This Service Level Agreement (SLA) defines the expected service levels and responsibilities of the Financial Services Authority (FSA) and its service beneficiaries. This agreement aims to achieve excellence in digital financial service delivery and ensure accountability and transparency. .3 Services Covered This agreement covers the services provided by the Financial Services Authority and listed in the service directory at the following link: https://om.gov .4 Performance Standards The Financial Services Authority commits to providing the aforementioned services according to the following standards: • Service Availability: Services must be available during official working hours from 07:30 AM to 14:00 PM from Sunday to Thursday. • Critical Services: Some critical services, such as financial underwriting automation for insurance brokers, extend to 24/7 to ensure business continuity. .5 Service Availability • Official Working Hours: Services are available during official working days, excluding official holidays. • Critical Services: Some services are available around the clock to ensure operational continuity. .6 Key Performance Indicators (KPIs) Performance will be measured based on the following indicators: • Response Time for Requests: Initial response to requests within 24 working hours. • Request Fulfillment: Requests are processed within the specified and approved timeframe in the Unified Government Services Portal at https://om.gov. • Accuracy: Achieving an accuracy rate of 99% in issued reports and licenses. • Customer Satisfaction: Maintaining a satisfaction rate of no less than 90%. .7 Roles and Responsibilities • Financial Services Authority (FSA): Responsible for delivering services in accordance with the agreement, ensuring performance monitoring, and publishing periodic reports. • Service Beneficiaries: Must provide accurate data, update it regularly, and comply with required guidelines. .8 Reports and Transparency • Monthly Reports: The FSA will publish monthly reports detailing performance according to the KPIs. • Annual Review: The SLA will be reviewed annually to ensure required performance is met and to implement any necessary updates. .9 Continuous Improvement • Feedback Mechanism: The FSA encourages beneficiaries to provide feedback on service quality to drive continuous improvement. • Periodic Review: The agreement will be reviewed and updated every six months to ensure it meets customer needs and the Authority's objectives. .10 Violations and Escalation • Violations: In case of failing to meet performance indicators, an internal investigation will be conducted to identify the root causes and take necessary corrective actions. • Escalation Procedures: Unresolved issues will be escalated to senior management within 48 hours. .11 Stakeholder Engagement • Stakeholder Engagement: All stakeholders were involved during the drafting of this agreement to ensure alignment with their requirements. • Training: Staff will be trained periodically to ensure compliance with SLA standards. .12 Appendix: Compliance with Indicator Requirements • Indicator Name: Quality and Efficiency of Operations, Service Delivery, and Utilization. • Perspective Name: Digital Services Maturity Perspective. • Axis Name: Operational Efficiency. Compliance with Indicator Requirements: • The Authority's commitment to delivering high-quality digital services. • Providing a mechanism to monitor performance and ensure achievement of required levels. • Periodic review and continuous improvement to ensure service alignment with beneficiary expectations. Head of Digital Transformation Team