Consumer Duty Champions - Board Reporting, MI & Governance for Financial Services

Introduction

The Consumer Duty is now in fully implemented, as a genuine step-change to regulatory compliance passing the implementation date does not mean firms can forget about the requirements.

One key aspect of ongoing compliance with the Duty is outcomes monitoring. PRIN 2A.9 requires firms to continually monitor whether customers are receiving good outcomes, with PRIN 2A.8 setting out the governance requirements. This virtual classroom seminar will cover these areas in detail, setting out ‘what good looks like’.

Although there is no longer a requirement to have a Consumer Duty Champion, many firms have chosen to retain the role. As such, this session will also explore the Consumer Duty Champion’s role, the board report and relevant MI to support the report.

The course applies to:

• Those with responsibility for the implementation of the Duty in firms
• Consumer Duty Champions
• Those with responsibility for governance in organisations
• Firms operating in England, Scotland, Wales and Northern Ireland

What You Will Learn

This course will cover the following:

• The FCA requirements in relation to outcomes monitoring, MI and governance
• What MI should be considered and assessed and presented to the board
• The board report and suggested contents
• Oversight from a Consumer Duty champion or equivalent role
• Governance framework that enhances the firm’s adherence to the Duty

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.