The Training Environment For Financial Services

Complaints and Customer Vulnerability - Best Practice Approaches for FCA regulated firms

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Outline and objectives 

With the Financial Conduct Authority’s (FCA’s) final vulnerable customer guidance and the Consumer Duty now firmly in place, the FCA's expectations on us to do the right thing for our customers has never been as high as it is today. 

As an industry we've tended to focus our efforts on understanding customer vulnerability through the lens of collections and recoveries teams. But customer vulnerability has changed, is continuing to change and is being seen and felt across all our contact points with customers - including in our handling of customer complaints.

The FCA expects complaints handlers to have the necessary skills to recognise and respond to vulnerable customers in the same way that it expects firms to have an accessible complaints journey.

Ensuring we have a good understanding of the complaint is only just the beginning. To reach the right decision (and a good outcome) we also need to understand a lot more about what else is going on in our customer's life, to determine the true impact of what's happened. 

This practical session will take you through the FCA’s expectations and what your firm can do to help you to meet those expectations – from the way customers raise their complaints and the skills complaints handlers will need, to reaching good customer outcomes that reduce the chances of cases ending up at FOS. 

If you oversee a complaints function in a FCA regulated firm, this course will help you to: 

  • Understand what the regulator expects
  • Discover what you can do to make your complaints journey work for customers in vulnerable situations
  • Know what skills complaints handlers are expected to have (beyond handling complaints skills)
  • Unpick how the presence of vulnerability might impact your decision on individual cases and the payments you offer (and should it?)

Who will benefit? 

The course will be of value to those who both handle complaints and to those who have strategic, managerial or operational oversight for complaints handling teams or any areas handling customer complaints. 

Course Agenda

Topics covered may include but are not limited to:

  • The FCA's expectations (final vulnerability guidance and Consumer Duty)
  • The complaints journey
  • The skills people need
  • What a good outcome looks like
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