Overview

Delivering a consistently high standard of service to the most vulnerable members of society is not only the right thing to do, but also speaks to the ethos and values that firms aspire to. The banking and finance industry is committed to sharing best practice, driving forward improvements in customer outcomes, and demonstrating that they are delivering the 'step change' that the FCA require in their latest consultation: GC19/3: Guidance for firms on the fair treatment of vulnerable customers.

Whilst firms are making progress to address the expectations of the regulator, many firms recognise the need to improve their internal knowledge and understanding of the key issues facing their colleagues to ensure customers are treated fairly and appropriately. In response to this, UK Finance and the Money Advice Trust bring you the Vulnerability Academy (recent winner of Best Vulnerable Customer Support Initiative 2019).

Download the Vulnerability Academy Brochure (PDF)

Chris Fitch - Vulnerability Lead, Money Advice Trust on the Vulnerability Academy.

Background

Many firms recognise the need to improve their knowledge, policies and practical responses to the challenges their colleagues face in identifying and supporting customers in vulnerable circumstances.

However, in a political and regulatory environment where ‘vulnerability’ remains a fluid concept, and where firm conduct, resources and commercial pressures are under scrutiny, firms need to plan and prioritise.

An effective response

Policy and organisational ambitions on vulnerability cannot be met unless three conditions are fulfilled:

1. Colleagues have the necessary skills, knowledge and confidence to deliver these ambitions through training.
2. Training initiatives must tackle the actual challenges and tasks that colleagues encounter daily – ‘awareness raising’ about vulnerability will not, in itself, deliver practical change.
3. Each firm’s wider environment must facilitate colleagues taking effective actions on vulnerability by developing quality assurance, monitoring and compliance functions, data architecture and ashboards, and other functions on vulnerability.

This means that an effective response to vulnerability must also be led by and make parallel improvements to the strategic, policy, governance and information environments that these colleagues will be working in.

The Vulnerability Academy is for people who want to gain the skills, knowledge, and relationships to address the most challenging issues and scenarios and meet regulatory requirements.

Booking:

If you would like to register for the Academy, please click book now or email training@ukfinance.org.uk or call the team on +44 20 3934 1197.

How can the Academy help?

At its core the Academy is a learning environment where senior managers will have the opportunity to meet, question, and work with leading thinkers across sectors. They will follow a programme that includes five one-day workshops, supplemented by webinars (using voice, graphics and interactive features to engage learners and reinforce the key workshop messages), podcasts (a deep-dive understanding of the issues via interviews with experts, guests and practitioners), plus elearning, reading lists and downloadable resources.

Vulnerability resources:

• Download the Vulnerability Academy Brochure (PDF)
• Listen to our latest vulnerability Academy podcast with the Money Advice Trust: The FCA’s proposed new vulnerability guidance.
• Read our latest vulnerability blog: Fair treatment of vulnerable customers
• Watch our latest vulnerability webinar.

Next Available Date:

This course will repeat on: 25 September - 10 March 

Take this training in-house

If you have five or more delegates who wish to attend this workshop, it may be more cost effective to run it in-company. To find out more about in-company training, please contact the team on 0203 934 1197 or training@ukfinance.org.uk.