Consumer Duty - Action Planning Workshop
11 & 12 April 2024, 09:30-12:30 (UK)
The new Consumer Duty sets higher and clearer standards of consumer protection across financial services, and requires firms to put their customers’ needs first.
The CII are piloting an action planning workshop in October to assist you in further developing your approach to implementation of the new Consumer Duty regulation. This workshop will be rolled out alongside our wider package of Consumer Duty support in the coming months, but if you’d like early access and to help shape the future proposition, please register below.
This one-day, highly interactive workshop aims to further develop your understanding and action planning with practical ideas and advice to support you in your early stages of implementing the Consumer Duty expectations into your business.
What are the Consumer Duty Rules:
- A new Consumer Principle that requires firms to act to deliver good outcomes for retail customers.
- Cross-cutting rules providing greater clarity on our expectations under the new Principle and helping firms interpret the four outcomes (see below).
- Rules relating to the four outcomes we want to see under the Consumer Duty. These represent key elements of the firm-consumer relationship which are instrumental in helping to drive good outcomes for customers.
These outcomes relate to:
- products and services
- price and value
- consumer understanding
- consumer support
What will I get by attending the Workshop?
This 2x half days, highly interactive workshop will focus on key areas of the business linked to consumer outcomes and effective governance, and drill into the range of options which can be considered to meet those outcomes.
We also review the principles of effective action planning and consider the realities (and hints to minimise pain) of driving change in an already busy environment.
Breakout group work throughout the day culminates with a targeted exercise where attendees work flexibly with others to develop and enhance their own plans.
By the end of the workshop, participants will be able to:
- Identify the key areas for Consumer Duty compliance
- Identify the key actions within these areas
- Explain the rationale behind the action planning in terms of consumer benefit and regulatory interest
- Ensure their plans are refined to improve the likelihood of success
- Plan their own in-house activity to deliver better consumer outcomes
With 25 years training experience in financial services, Steve is well placed to support you in building an effective Consumer Duty programme. He is a former Head of Education for HSBC covering the UK and Europe, responsible for regulatory and financial crime related compliance learning. His time at HSBC was during intense scrutiny from regulators and government functions during the bank’s Deferred Prosecution Agreement.
Other roles include leading the Monitoring and Testing programme for a UK Wealth Manager, and Senior Vice President responsible for Global Risk & Compliance training at a US-based bank. He also worked in the Insurance Firms division at the Financial Conduct Authority (in the FSA days) where he was the divisional expert for the rules and outcomes required under the Training & Competence handbook.
The HSBC role, along with five years at Barclays in their Private Clients and Wealth functions, has seen Steve work with retail, commercial, wholesale and private banking channels. Since leaving HSBC, Steve has worked with the compliance, HR and operational teams of firms to enhance their regulatory understanding, as well as delivering content across private equity firms, investment houses, banks and wealth managers.
Steve is a former member of the Investment Management Association Training & Education Committee and won the Thomson Reuters award for “Most Effective Compliance Training at a Regulated Firm” in 2010.
Method of delivery
This workshop will be delivered Online, split over two half-day sessions, between 09:30-12:30 (UK).
Available workshop dates:
- 11 & 12 April 2024
*Please specify when booking, which set of course dates you would like to book*
At the end of this course, you will receive a certificate of attendance from the Chartered Insurance Institute.
- Members: £169
- Non-members: £229
How to book
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Please note: courses are sold on a first come first serve basis, and therefore availability may change, depending on the number of bookings received. Once a course becomes full, the above date will no longer be available, and new dates will be published.
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