As we are currently working to upgrade our systems we are temporarily unable to accept card payments. If you would like to book any of our Training courses with a card, please contact training@ukfinance.org.uk and an alternative payment facility will be arranged.

UK Finance and Oxera are running this workshop again due to high demand. Feedback from participants includes ‘first truly practical application of what the Consumer Duty means’ and 'will help enormously with our implementation!'

The Financial Conduct Authority’s (FCA) proposals for a new Consumer Duty hold far-reaching implications for financial services providers across different markets. The Consumer Duty is not only about ticking boxes on a checklist but embedding the customer perspective at the heart of businesses and business models.

This interactive workshop will focus on the practical actions that delegates can undertake to prepare their organisations and the Board for the incoming Consumer Duty. It will focus on developing the new skills and perspectives required to embed the customer perspective and to demonstrate evidence of this to the regulator. For example, the focus on showing the distribution of customer outcomes in MI and demonstrating effective customer communications.

This practical training will teach delegates to apply and embed the relevant tools in their organisations such as behavioural economics, data analytics and science and business model analysis. It will also explore how the proposals might change in the policy statement and the nuances of the handbook text versus the guidance.

Following the workshop, delegates will be informed and knowledgeable about what the Consumer Duty requires of their organisations, understand the context of the Consumer Duty and practical implications for their organisations and be able to identify which tools are required in which circumstances. Furthermore, delegates will be empowered to use these tools in their organisations, able to confidently evaluate how well their organisations are doing against each of the Four Outcomes and identify the practical actions required to meet the FCA’s new expectations.

Reinder van Dijk

Reinder van Dijk

Head of Financial Services team, Oxera

Head of Oxera's Financial Services team. With more than 20 years of experience in the sector, Reinder has advised major retail and investment banks, l...

Head of Oxera's Financial Services team. With more than 20 years of experience in the sector, Reinder has advised major retail and investment banks, lenders, insurers and re-insurers, trading platforms, payment system companies, and asset managers and distributors on regulatory investigations, supervision/conduct risk, and competition and litigation cases. He has been involved in all major regulatory and market investigations in financial services, and he has provided written and oral evidence. Reinder has delivered bespoke behavioural economics and competition economics courses to staff members at the FCA, other regulatory authorities, financial services companies, and law firms.

Read more
Peter Andrews

Peter Andrews

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.

Read more
Tim Hogg

Tim Hogg

Senior Consultant, Oxera

Tim is a Senior Consultant in our Financial Services Regulation practice, specialising in behavioural economics. Tim has advised a number of financial...

Tim is a Senior Consultant in our Financial Services Regulation practice, specialising in behavioural economics. Tim has advised a number of financial services providers on the fairness of their pricing strategies and product design, providing practical assessments of fairness. He has experience across financial services, including insurance, consumer credit, retail banking, and pensions. Tim regularly delivers training on behavioural economics, and he has published articles on applying behavioural economics to regulation. Prior to joining Oxera, Tim worked at another consultancy where he specialised in regulation. He holds MSc Behavioural Economics

Read more
Dr. Vanessa Pham

Dr. Vanessa Pham

Senior Consultant, Oxera

Vanessa is a specialist in data analytics, advising clients in regulatory reviews of consumer credit products, assessing commercial considerations, va...

Vanessa is a specialist in data analytics, advising clients in regulatory reviews of consumer credit products, assessing commercial considerations, value for money to customers, and distributional effects.

Her work in the financial services sector also includes advising retail banks, payment services, and insurance providers in market investigations, merger reviews and abuse of dominance investigations led by the CMA, the FCA, and the European Commission.

Prior to joining Oxera, Vanessa worked as a competition economist at the FCA, leading the economic analysis and remedy designs for multiple market studies including the Investment Platforms and General Insurance Pricing Practices market studies.

Read more
Oxera Consulting

Oxera Consulting

We are Europe's leading economics consultancy in financial services, with a reputation for independence, integrity and analytical excellence. We combi...

We are Europe's leading economics consultancy in financial services, with a reputation for independence, integrity and analytical excellence. We combine economic and finance skills with extensive industry experience. We have more than 150 economists and finance experts, industry practitioners, and former regulators.

Oxera advises supervisory and market investigations, section 166 reviews, and authorisations.

Oxera has also advised regulators including the FCA and designed and delivered training programmes for regulators, public bodies, law firms, and corporates.

We have extensive experience in informing the design of regulation and thinking of regulatory authorities. We advised on all major European and UK regulatory and competition investigations in financial services and have extensive experience in preparing firms for supervision and authorisation.

We combine our core skills (competition economics, finance, modelling and behavioural economics) with creative thinking to advise on regulatory strategy and deliver innovative and practical solutions for clients.

Read more

This workshop is aimed at senior managers from all three lines of defence. For example:

  • Product Owner
  • Head of Pricing
  • Head of Risk
  • Head of Compliance
  • Head of Marketing
  • Head of Digital
  • Head of Internal Audit
  • Head of Strategy

You may be interested in

What are the practical challenges of complying with the new Consumer Duty

Webinar

What are the practical challenges of complying with the new Consumer Duty

The second and final consultation on the new Consumer Duty closed on 15 February and the new Consumer Principle is due to come into effect along with the 3 cross cutting rules and 4 Consumer Outcomes on 1 July. Whilst there is an implementation window of nine months to make all the required changes to products, pricing and processes, work needs to start now if the deadline is to be met.
The Consumer Duty—what does it mean for digital channels?

25.05.22

Blog

The Consumer Duty—what does it mean for digital channels?

The introduction of a new Consumer Duty promises to be one of the biggest shake-ups to retail financial services regulation in over 15 years.