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.
The FCA’s 2025 review on delivering good outcomes for customers in vulnerable circumstances found that firms doing best at monitoring outcomes used good quality data to understand the experiences of customers in vulnerable circumstances. More recently as part of its review of Year 2 Board Reports, the FCA made it clear that while firms are drawing on a wider range of data to demonstrate customer outcomes - the quality and depth of analysis was variable. 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.
Why reporting on progress matters – and how it supports better consumer outcomes
What are the FCA’s reporting requirements?
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
Examples of good and poor practice in reporting
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
Using reporting to drive changes in product design and review.
We briefly touch on privacy and GDPR – the central topic of our next webinar
Stephanie Chapman, Consumer Duty Delivery Manager, FCA
Stephanie Chapman is the Consumer Duty Delivery Manager at the FCA – having also worked at the FCA as the Manager of the Executive Office of Risk & Compliance Oversight and Senior Associate in Retail Banking & Payments Supervision. She also has extensive experience in regulatory and policy roles within financial services, including as a Consumer Panel Associate at the Legal Services Board and as Policy Adviser at the Financial Ombudsman Service, where Stephanie managed various policy areas and stakeholder communications.
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.
Johnny Timpson OBE
Johnny is a highly regarded industry expert with more than forty years’ experience within the insurance and protection sectors. He holds numerous positions, including as Financial Inclusion Commissioner and as a member of the FCA’s Financial Services Consumer Panel. He is also a member of GAIN, the Group for Autism, Insurance, Investment and Neurodiversity, BIBA Access to Insurance Committee and the Building Resilient Households Group. In addition, he is a founding member of the Financial Resilience Taskforce, an Age Irrelevance Ambassador and a Grief Chat Ambassador.
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?