Customer vulnerability workshop

Consumer Duty board report review and 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 an optional 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.

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

Duration: Workshop: half day

Location: Firms’ offices, face-to-face

Fee: Desk-based review £2,000 + VAT

Fee: Desk-based review and workshop only £2,500 + VAT

Topics covered include:

  • 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.

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.