Consumer Duty training

This eLearning is targeted at all FCA regulated firms and their employees working in the financial services sector within the UK who need to understand and comply with the new regulatory requirements outlined by the Consumer Duty principles

The training is primarily for:

• Financial services firms (e.g., banks, insurers, asset managers) to ensure their employees align with the Consumer Duty principles, particularly in ensuring products and services meet customers' needs and that communication is clear.
• Compliance officers responsible for ensuring that their firms meet regulatory requirements. They need to know how the principles impact their compliance processes and how to monitor adherence.
• Customer service teams who interact with consumers, helping them to understand their obligations in providing clear and transparent communication, preventing harm to consumers, and ensuring fair value for customers.
• Product development and marketing teams to make sure they design products and services that provide value and consider consumer needs, avoiding exploitation or misleading offers.
• Senior management and board members, as they are responsible for embedding the Consumer Duty principles into the firm’s culture and governance structures, and ensuring accountability.

The overall aim of the training is to help firms deliver good outcomes for consumers and reduce risks of mis-selling, poor customer service, and inappropriate product design.

After completing this Consumer Duty training you’ll be able to:

• Identify and demonstrate the expected standards of behaviour outlined within the Consumer Duty rules and guidance.
• Support consumers to make good financial decisions that promote financial well-being and consumer trust.
• Influence and implement changes to behaviours, policies and products.

The Consumer Duty training course covers the following topics:

• The Consumer Duty Principle
• The Consumer Duty Outcomes
• Vulnerable Customers and SM&CR
• Monitoring and Governance

Once the training has been completed, you will need to complete a short assessment which requires a minimum of 70% to pass the course.

This Consumer Duty training consists of our five-part fictional miniseries called THE SHIFT and accompanying e-learning.

Follow our main character, Jack Napier, through his financial services career and the challenges that arise as a result of his conduct and decisions. Each episode corresponds to a learning activity within the learning pathway.

The course is delivered through eLearning meaning it can be undertaken at a time most suitable to the learner. It is fully accessible on desktop, tablet and mobile.

Our learning management system promotes a culture of learning and allows training to be tracked and assigned effortlessly.