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The FCA’s Consumer Duty has been in force for almost a year, and the regulator has already been taking action under the new regime particularly in relation to ‘fair value’ and effective communications.
This interactive workshop will focus on how to further embed the Consumer Duty in your organisation, with a spotlight on two key areas of FCA attention – assessing fair value, and customer communications.
What is fair value?
This workshop will take you through practical concepts and tools to assess fairness of pricing and customer outcomes, and explain how to evidence this using behavioural economics, data analytics and business model analysis. You will also discuss the importance of having a robust ‘fair value framework’, and practical suggestions for how you can implement your own.
How to design effective customer communications?
This section will take you through the do’s and don’ts, and when and how to test and optimise customer communication, using the latest insights from behavioural economics. You will be given practical examples, and insights from good industry practice.
This workshop will also cover practical ways of bringing together the evidence of embedding the Consumer Duty – including through the FCA requirement for an annual report to the board/governing body.
Whether you are seeking to upskill your team, enhance productivity or foster a culture of continuous learning, we can deliver customised training programmes designed to meet your specific needs. If you have an enquiry, you can complete the in-house form and our training team will be in touch with next steps.
In-house training
Introduction:
What does embedding the Consumer Duty look like?
What is the toolkit? Practical insights from behavioural economics, data analytics and science, and business model analysis.
How to assess fair value?
How to design and test effective customer communication?
Connecting the dots: How to embed the Duty in your organisation, and evidence this to the regulator.
Closing remarks
There will be plenty of time for discussion throughout, with worked case studies and Q&A.
Partner and Head of Financial Services, Oxera
Reinder has more than 20 years of professional experience in applying economics in the context of regulatory and supervisory investigations, competiti...
Reinder has more than 20 years of professional experience in applying economics in the context of regulatory and supervisory investigations, competition and market investigations, mergers and acquisitions, and litigation cases.
He leads Oxera’s work in financial services and has advised major retail and investment banks, lenders, insurers and re-insurers, securities exchanges and other FMIs, payment system companies, fund managers, and distributors.
Reinder has been involved in competition, regulatory, supervisory and market investigations, and has provided written and oral evidence. He is listed in The International Who’s Who of Competition Lawyers & Economists and has delivered training courses to the various regulatory authorities, including the FCA, government departments, financial services companies and law firms.
Senior Advisor, Oxera
Peter was the Chief Economist of the FCA until early 2017, leading a substantial economics practice at the regulator for over twenty years. Peter led...
Peter was the Chief Economist of the FCA until early 2017, leading a substantial economics practice at the regulator for over twenty years.
Peter led many original research projects in such as competition, capital, wholesale risk issues (e.g. shadow banking) and retail conduct, including behavioural economics. Many of the projects were important contributions to the FCA's programme of Competition Market Studies and to the wider debate on financial services, both in the UK and around the world.
Peter is the author of books, chapters and papers on regulation, economics and banking. He is Member of Institute of Chartered Accountants in England and Wales, and the Chartered Institute of Securities and Investment.
Consultant, Oxera
Tom is part of Oxera’s Regulation and Market Design team, with a particular focus on the economics of the financial services sector. He specialis...
Tom is part of Oxera’s Regulation and Market Design team, with a particular focus on the economics of the financial services sector. He specialises in applying behavioural economics to regulation and conduct risk in financial services and has advised payments services companies, banks, building societies, brokers and insurance companies across a range of issues.
Tom has delivered training to multiple firms on behavioural economics, value for money assessments and on implementing the FCA’s new Consumer Duty. He has advised financial services firms on questions of market design, and assessing fair value of products and services.
Minyoung is a data scientist, specialising in using advanced data analytics to unlock new insights into customer outcomes and behaviour. Her work in t...
Minyoung is a data scientist, specialising in using advanced data analytics to unlock new insights into customer outcomes and behaviour. Her work in the financial services sector centres on quantifying the consumer impact of changes in distribution channels, product design, regulation, and competitive conditions.
Prior to joining Oxera from academia, she was a research fellow and lectured at Barcelona School of Economics, where she received grants on her research projects estimating impact of financial policy in Spanish housing market during the Global Financial Crisis of 2008.
Financial Services team member, Oxera
Jessie is a member of Oxera’s Financial Services team. She uses economics and analytical tools to provide solutions to a range of issues, and has work...
Jessie is a member of Oxera’s Financial Services team. She uses economics and analytical tools to provide solutions to a range of issues, and has worked on projects spanning impact assessments, commercial disputes and commercial strategy. She has undertaken analysis estimating the impact of policies, assessing fair value and assisting firms with regulatory compliance. Jessie regularly delivers training for financial services firms, including on the implementation of the FCA’s Consumer Duty and behavioural economics.
This workshop is aimed at senior managers from all three lines of defence.
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