Frequently asked questions on the Supplier Qualification System (SQS)
- Why does the Bank of Ireland Group use the Financial Supplier Qualification System?
Suppliers told us that our process for collecting compliance and assurance information was complex and time consuming. An online system simplifies the process for suppliers to submit information and prevents suppliers receiving multiple requests from the Group, and other financial services companies, who are part of the FSQS for qualification data. It is also important that we (your organisation and the Group) can demonstrate to our stakeholders that we are working together responsibly to minimise risk across our supply chain to protect our customers. As the regulatory environment we operate in becomes more complex, it is vital that we have a robust system in place to support the collection and maintenance of Supplier Assurance data and respond to regulatory change.
- Who is Hellios?
Hellios Information Management Ltd is a UK based company. The team has extensive experience in collecting and maintaining supplier data on behalf of a number of global and UK companies.
- What is the role of Hellios?
Bank of Ireland Group subscribe to the FSQS, which Hellios use to collect and administer Supplier Assurance related data. Hellios collect and check the data provided by suppliers and ensure the data is maintained on the Financial Supplier Qualification System. Hellios is an approved supplier of the Bank of Ireland Group. Hellios does not assess a supplier’s suitability for qualification. That decision rests with Bank of Ireland.
- Do we have to register each of our legal entities separately?
Yes, your organisation is required to register any legal entity that submits an invoice to Bank of Ireland Group.
- Can any supplier apply for qualification?
No, qualification is by invitation only, either by Bank of Ireland Group or one of the other companies who subscribe to the FSQS.
- Will other suppliers have access to the information we provide?
No, other suppliers will not have access to the information you provide.
- Will assurance information be available across Bank of Ireland Group?
Yes, one of the benefits of the FSQS is that suppliers’ assurance information will be available to other areas in the Bank of Ireland Group. This will reduce requests for duplicate information from the Group.
- Will I be asked to provide pricing information on my company’s products and services?
No, your organisation will not be asked to provide any commercial information of this nature.
- If I’m required to apply for Stage 2 Qualification, how do I pay the fee to Hellios?
Hellios will provide full details of the payment options available.
- How long is qualification valid for?
The renewal date is set at one year after Stage 1 Qualification has been granted. Or in the case of Stage 2 Qualification, one year after payment has been made to apply for qualification. Hellios will issue reminders to suppliers in advance of their qualification expiry deadline.
- How long does it take to complete qualification?
Typically, we find it takes less than one business day to enter the information in the system (if you’re asked to complete both stages). However, the time required to collate the information varies dependent on the size of an organisation. Larger organisations often have to source the data from a number of internal departments and therefore we’re giving existing suppliers approximately six weeks to complete qualification.
- Who can I contact for further information?
Please contact Hellios Supplier Support: email: email@example.com or telephone
+44(0)1865 959120 - 9am to 5pm, Monday to Friday, except Bank Holidays.
- Where can I find more information on the FSQS Community?
For more information about the FSQS Community please see the Hellios website: www.hellios.com