Vulnerability is crucial to all firms due to the significance placed upon firms by the FCA. It is at the heart of their regulation.

The global pandemic has intensified the challenges for firms and the operationalising of vulnerability is key to supporting vulnerable customers with financial difficulties; many of whom have never been in arrears before.

This course has been adapted from the more general Vulnerability course on offer, specifically geared at those working with vulnerable customers struggling to maintain contractual payments and catch up with debts accrued since the impact of Covid19 hit consumer finances.

LEARNING OUTCOMES:

By the end of both workshops you will:

• Define what the term vulnerable consumer means
• Identify a vulnerable consumer, based on the information available at the time
• Identify and support a consumer with mental capacity limitations
• Apply conversational techniques to begin a conversation with a vulnerable consumer
• Apply conversational techniques to manage the disclosure of a vulnerable consumer
• Demonstrate how to record vulnerable consumer information, in line with data protection regulations
• Explain what support options are available to a vulnerable consumer