Consumer Duty: MI & The Board Report Workshop
Overview
Project Teams were busy in 2022-3 in implementing the main requirements of the Consumer Duty by July 2023. The ongoing challenge is to prepare an annual report from the Board or governing body.
As part of this, the Board must review and approve an assessment of whether your firm is delivering good outcomes for your customers.
This assessment should include the results of your monitoring on whether your products and services are delivering expected outcomes in line with the Duty - and any evidence of poor outcomes.
The Board must also agree the actions required to address any identified risks or poor outcomes and agree whether any changes to your firm’s future business strategy are required.
In this two-hour session, your trainer, Peter Haines, will challenge the Consumer Duty Implementation Project Team’s conclusions as to the quality of the management information provided to the Board, and also the robustness of the firm’s conclusions as to achieving the relevant outcomes.
Peter is a Consumer Duty Champion and has experience of implementing the Duty within a financial services organisation.
Who is this for?
This course is designed for Consumer Duty Project Teams and Boards of regulated financial institutions.
Learning Outcomes
After attending this course, participants will be able to:
- Benchmark the progress of their implementation against industry best practice
- Compare their progress both generally and by outcome
Course Details
This course consists of a challenge session in respect of:
- The general outcomes of the FCA’s Consumer Duty
- The four specific outcomes
- The FCA’s expectations of management information to the Board
- The content of the Board’s report on the achievement of the four outcomes (NEW for 2024)
Delivery
Have the flexibility to deliver your In-House training in-person by one of our trainers at your premises, or virtually via Zoom, Teams or Webex.
Find out more about your Virtual or In-Person training experience below.
Virtual Delivery
Our virtual training courses are designed to be every bit as engaging as our in-person courses. To achieve this, our trainers use market-leading technology and a range of training techniques to ensure high levels of interaction with participants. Courses include the use of:
- Virtual ‘break-out’ rooms: participants are divided into virtual rooms to facilitate small group discussion.
- Polling: multiple-choice questions, answered anonymously, allow the trainer to assess knowledge and understanding across the group.
- Case studies: true to life case studies and scenarios are used to highlight the practical application of theoretical knowledge.
- Messaging: participants can submit questions and comments, either to the whole group or privately to the trainer.
Additional Benefits:
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Recording: public course participants have the option to access a recording of the course for one month after the course. In-House clients also have the option to record their training for an additional fee.
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On-going Q&A: public course participants can access an ongoing Q&A facility allowing them to ask questions relating to the course.
In-Person Delivery
Our in-person training is delivered face to face at your offices, and includes:
- ‘In-the-moment’ questions & discussions: questions through conversations allow the trainer to assess knowledge and understanding across the group.
- Case studies: true to life case studies and scenarios are used to explore practical application of theoretical knowledge.
- Q&A: participants can ask questions during training, either to the whole group or privately to the trainer.
