Consumer Duty Governance Review
Having the right processes is essential. But it is governance that brings them together and turns Consumer Duty from a set of requirements into an effective framework for delivering good customer outcomes.
Boards need meaningful information about customer outcomes but effective oversight goes beyond simply receiving information.
Our new Consumer Duty Governance Review provides a focused review of your outcomes monitoring and board/committee oversight, to give you confidence that your firm’s oversight arrangements are delivering.
Outcomes Monitoring
- Are the right outcomes being monitored?
- Is the MI meaningful?
- Does it provide sufficient insight into emerging issues, trends and potential areas of concern?
- And, importantly, is there evidence that the firm acts when outcomes are not as expected?
- Does the Board have appropriate visibility of Consumer Duty?
- Is there meaningful challenge and discussion?
- Are customer outcomes influencing decisions?
- And can the firm demonstrate how the Board has exercised effective oversight?
The objective is not simply to determine whether a governance structure exists
It is to consider whether the arrangements provide the Board with the information, insight and evidence it needs to understand customer outcomes and challenge where appropriate.
This review is ideal for firms that:
- Have received regulatory contact or feedback around their Consumer Duty governance
- Need independent challenge before a Board review
- Want assurance that their governance arrangements are designed and operating effectively
- Require a cost-effective assessment their Consumer Duty governance
Ready to Get Started?
Book a discovery call to discuss your current Consumer Duty arrangements and how this review can support your firm.