- Retail Conduct Risk & Culture
6 November, 2019
9:30 am - 5:00 pm
- City of London
Course Fees (excl. VAT)
- Single Booking £595.00 (GBP)
- Multiple Booking £535.50 (GBP)
The financial crisis (and a wave of subsequent misconduct scandals) has awoken the regulators to the issue of culture and its link with conduct.
The FCA now expects you to create a culture of fairness, looking at your firm’s culture as the potential root cause of poor outcomes for your customers.
But while many firms place a high value on organisational culture, far fewer understand how to link culture with conduct risk and improved outcomes for customers.
“Treat conduct risk as seriously as any other risk on your balance sheet”
The FCA’s business plan for 2015/16 challenges firms to demonstrate an appropriate management of conduct risk:
“We continue to address conduct issues arising from failures in firm culture…. Change in culture will only come when the tone at the top is right. However, it also requires staff throughout a business to understand and accept the values and practices the firm espouses. Firms must ensure that all of their processes support and reinforce the culture they want to promote.”
But we know that understanding the interaction between culture and conduct risk remains a challenge for many firms.
So join us for our comprehensive one-day workshop. This interactive and practical training will help you:
- See how the FCA’s latest approach to conduct risk and culture affects your firm
- Better understand how your firm’s culture is driving conduct risk performance
- Protect your firm from the key conduct risk areas in wholesale and retail markets
- Understand how irrational customer behaviour increases your conduct risk
- Develop a framework to assess your cultural and conduct risk performance
- Learn how to measure culture and report it in your management information
- Set your firm’s risk appetite and demonstrate good governance to the regulator
Sharpen your firm’s focus on culture and conduct risk
Live up to your values
The culture you promote can be easily undermined by negative customer outcomes. We help you turn cultural messages into everyday operations, closing the gap between what you say and what you actually do.
Satisfy the regulators
You’ll be better able to demonstrate through evidence that you manage conduct risk as part of your firm’s culture, showing the FCA how seriously your firm takes these issues.
Avoid regulatory fines
In recent years fines for misconduct have reached into the hundreds of billions. Avoid costly mistakes by ensuring the behaviour of all staff and the decisions you make are focused on positive customer outcomes.
Better serve your clients
With a smarter understanding of conduct risk, regulation and behavioural economics, you’ll be able to choose and develop the best products and services for your clients.
The Course Agenda
Getting up to speed with the FCA regulatory update
- Regulatory Operational Objective
- Retail Conduct Risk Outlook
- Understanding the latest FCA Business Plan
Understanding the role of behavioural economics
- What is behavioural economics and where does it come from?
- Why is it vital to understand behavioural economics if you provide financial products and services?
- What’s the latest regulatory thinking in this area and why is it set to become even more important?
Insights into conduct risk
- Understand the background to conduct risk
- What are conduct risks and how do you identify them in your firm?
- Analysis the five priority risks identified by the FCA
- What is organisational culture and how does it help you succeed?
- What are the key elements that make up a firm’s culture?
- How do you embed and sustain a successful culture
- How do you change a culture that’s not working
- What’s the link between culture and treating customers fairly?
Conduct risk – Developing and maintaining an effective framework
- Understand the challenges of setting an effective framework
- What considerations should you be making as you do so?
- What is our conduct risk appetite?
- Consider where conduct risk sits in your firm
- Learn how to create risk appetite statements
Governance and oversight – Developing KPIs and appropriate MI
- The FCA’s business plan and where evidence will be required
- Setting the right KPIs – a methodology
- The principles of good Management Information
Summary and review
- Overview of what you’ve learnt
- Time for outstanding questions
- Action steps to take back to the office
Meet The Tutor
Lynne has extensive experience of Financial Services working within a variety of roles in the Retail sector before moving into the world of regulatory consulting. She specialises in the interpretation of FCA regulation and the people impacts. This includes the design and development of training and competence frameworks, the Senior Managers and Certification Regime (SM&CR), identifying and managing conduct risk and the development of culturally aligned pragmatic policies and processes.
A highly effective coach with a proven record in operational HR and L&D Lynne recognises the need to ensure solutions are easy to understand and effective; and is able to deliver high quality commercial outcomes.
Who is this course for?
It’s perfect for anyone involved in evidencing and influencing conduct risk and culture within their firm, including:
- Human resource roles
- Risk and compliance officers
- Marketing and business managers
- Senior executives and board members
'A great use of a day. I came away feeling more confident and had the opportunity to collaborate openly with other delegates and the trainer.'
Head of Customer Services
Private Banking Firm
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Sessions are practical workshops not PowerPoint lectures. All courses are limited to no more than 14 attendees, so we’re able to explain concepts in the context of your business.