This webinar is for those who wish to understand Consumer Duty reporting requirements for vulnerable customers, as well as best practice in reporting for management information and product design.
In recent reviews, the FCA made it clear that many firms’ board reports fell well short of what was required—often being light on facts and heavy on anecdotes.
The reality is that many firms simply did not have the data needed to evidence good, equitable outcomes or to demonstrate effective support for vulnerable cohorts. Without robust data, reporting will always lack substance and will remain an expensive and time-consuming exercise. Firms with strong data, by contrast, can produce robust reports with just a few clicks of a mouse.
What are the FCA’s reporting requirements?
Why is there a need to report on progress?
What data is required for effective management reporting, and what is the purpose of these reports?
What reporting is required to provide evidence that feeds into product design?
What does and does not stand up in compliance reports?
What data is needed to support good, robust reporting?
How can you benchmark your firm against others in your sector, or against financial services as a whole?
What else can you do with management information, such as identifying and resolving issues?
How does your target audience influence your reporting?
Using reporting to prioritise work to improve consumer outcomes
We briefly touch on privacy and GDPR—the central topic of our next webinar
Andrew Gething
Andrew is the founder and managing director of MorganAsh. He is a recognised consumer vulnerability specialist and champion, is the driving force behind the award-winning consumer vulnerability management tool, MARS.
James Edmonds
Consumer Duty consultant James works with firms in the financial services sector, to help them understand and overcome the many customer vulnerability challenges with the FCA’s Consumer Duty regulations. James has extensive knowledge in customer experience, of which identifying, supporting and communicating with vulnerable customers is a key component. James has operated in customer experience and strategy roles primarily in financial services for nearly 20 years, having worked at L&G, RSA, More Than, JUST, James Hay and Nucleus.
Next webinar
In our next webinar, scheduled for 23 July, we unpack the weighty topic of UK GDPR. Firms often cite GDPR as a reason for not gathering information about customers’ vulnerabilities– but is it really such an issue, and what is the best way to do this while remaining firmly within the law?