Webinar Summary: Key video highlights and takeaways from our webinar with Square 4 on Thursday 9 April 2026.
Key highlights in this video workbook include:
-
The challenges of relying on activity-based evidence.
-
Common themes running through recent FCA publications.
-
Using continual assessment models to improve employee competence.
-
Why executive teams should embrace uncomfortable data.
Session Summary
On Thursday 9 April 2026, we were joined by Matthew Drage, Director and Co-Founder of ICA Compliance Consultancy Firm of the Year award winners, Square 4, to discuss how and why firms need to bring together the two disciplines of employee competence and outcome testing.
With 470 senior financial services professionals from cross-sector firms in attendance, our discussion and poll engagement with participants raised key considerations for firms to consider.
In poll one, we asked firms: ‘If the FCA called tomorrow and asked for evidence, what would firms reach for first?’ Whilst 33% said they would have ‘good outcomes evidence that could show the FCA a clear picture of outcomes’, 67% said they would be demonstrating ‘activity-based evidence’ in the main, which wouldn’t tell the whole story.
In poll two, we asked firms to select two descriptions which best describes the state of their Management Information currently. 30% said they were ‘in good shape’, yet the majority of firms candidly said they have ‘data but not conclusions’ (41%), they ‘track activity, not outcomes’ (35%), they can ‘identify issues but can’t show how they are fixed’ (24%), and ‘MI lacks thresholds and rationale’ (20%).
Poll three results revealed that just 6% of firms systematically link staff learning and competence with outcome testing. Most firms (58%) say the two disciplines are partially connected, but it’s not consistent. 26% stated the two disciplines run independently of each other, whilst 9% were ‘not sure how connected they are’.
Poll result three is particularly important for firms to consider, as Matthew Drage cited that the primary failures Square 4 see when they conduct outcome testing in firms are colleague failures and their ability to adequately support customers to get the right outcome during interactions. Matthew noted that this challenge was down to colleagues going through initial training but simply not remaining competent over time.