Consumer Duty Champions - Outcomes Monitoring, Governance & More

Introduction

The consumer duty is now in full swing, whilst firms have understandably focused on completing the steps required prior to the consumer duty’s implementation date in July 2023.

Now this date has passed we need to recognise there are still aspects of the duty to complete.

A 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 new full day course will cover these areas in detail, setting out ‘what good looks like’.

We will also explore the role of the consumer duty champion.

The FCA suggests this should be someone at board level (or equivalent governing body), ideally an independent non-executive director who ensures the duty is discussed regularly and raised during all relevant discussions.

The course will also explore the board report and relevant MI and appropriate governance.

It is suitable for those with responsibility for the implementation of the duty in firms, including consumer champions and senior managers in FCA regulated firms.

What You Will Learn

This course will cover the following: