Assess your readiness, identify areas for improvement, and ensure your firm builds a successful Consumer Duty reporting strategy for the future.
This paper explores the challenges firms face in data management, customer outcome monitoring, and fostering a consumer-centric culture. Gain insights into best practices for reporting and communication between different oversight functions and your board.
Key learning outcomes:
- Effective implementation: understand challenges of Principle 12 compliance, communication between lines of defence for board reporting, and the Consumer Duty Champion’s role.
- Navigating challenges: identify key challenges in areas like monitoring, culture, and FCA engagement, along with the importance of proportionality in reporting.
- FCA’s focus: understand the FCA’s approach and emphasis on a developmental mindset, plus how their culture reflects Consumer Duty as a core supervisory principle.