Customer vulnerability workshop

Consumer Duty board report readiness workshop

A gap analysis of a firm’s Consumer Duty board report, compared to the FCA’s requirements. An initial desk-based assessment, followed by a workshop to work through the gaps. This combined assessment and workshop helps organisations to compile meaningful and robust Consumer Duty board reports.

Aim: To give firms the ability to produce robust and accurate board reports, for Consumer Duty attestation.

Audience: Senior and operation managers who are responsible for Consumer Duty.

Duration: Half day

Location: Firms’ offices, face-to-face

Fee: £2,500 + VAT

Firms to provide their Consumer Duty board report and supporting data, a minimum of 2 weeks prior to the event, for analysis.

Note: This highly interactive workshop allows for detailed discussion and learning. We also offer a readiness review, which is undertaken remotely as a desk-based assessment of your board report, with some remote interaction over Microsoft Teams. If you are unsure about which format will work best for you, please contact us.

Topics covered include:

  • The FCA’s requirements for Consumer Duty board reports.

  • The firm’s current status in terms of Consumer Duty including vulnerable customer management.

  • The need for good, detailed data and the best ways to obtain this.

  • The need to provide evidence across the value chain.

  • The need for and role of action plans.

  • The role of the board and how board members can provide effective challenge.

  • Understanding the gap between where the firm is and where the FCA expects it to be.

  • Developing a plan to create a successful board report, with key milestones, dependencies, actions and outcomes.

Outcomes:

  • The skills and knowledge needed to compile an effective, robust Consumer Duty board report.

  • The ability to understand what is needed to implement plans for acquiring this data as part of an ongoing Consumer Duty and vulnerable customer management process.

  • An understanding of how to document action plans and the level of detail required for these to meet the FCA’s expectations.