The Training Environment For Financial Services

Complaints and Customer Vulnerability - Best Practice Approaches

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Outline and objectives 

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

 

Up until now 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 and is changing.

 

Over the last few years, vulnerability has evolved to be something much bigger and more inclusive than it once was. It isn’t just about being in debt anymore, vulnerability can happen to any of us at any time and when things go wrong, the impact can be significant.

 

It isn’t just about reaching the right decision on a complaint anymore. 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.

 

And it doesn’t stop there. Firms will be expected to demonstrate that customers in vulnerable situations are receiving at least as good an outcome as customers who complain who are not in a vulnerable situation.

 

This practical and course 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 how the FCA’s vulnerability guidance relates to complaints teams and what the regulator expects
  • Make your complaints journey accessible to customers in vulnerable situations
  • Know what skills complaints handlers are expected to have (beyond handling complaints)
  • Unpick how the presence of vulnerability might impact your decision on individual cases and the payments you offer (and should it?)
  • Understand data protection requirements and its relationship with root cause analysis

Who will benefit? 

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

SPECIAL SAVINGS are available to firms that also register delegates to the related and complementary half day course:

Complaints and the Consumer Duty

Please email emmabond@ctp.uk.com or
call 0330 303 9779 for further information

Training Approach

The course programme will comprise a blend of trainer presentations, group discussion, practical examples and case studies. There will be ample opportunity for questions, experience sharing and networking. All course materials (and at face-to-face events, refreshments and lunch) will be provided.

Course Tutor

Caroline Wells Caroline is an award-winning Customer Insight professional with almost 30 years of experience across different regulated markets. Having held a senior position at the Financial Ombudsman Service, Caroline has a deep-rooted knowledge of customer experience, diversity legislation, stakeholder engagement, complaints handling and consumer vulnerability. Caroline holds a number of appointed roles, including: Commissioner to Energy UK’s Customers in Vulnerable Circumstances Commission, an Advisory Board Member to the Money and Mental Health Policy Institute, Independent Advisor to the Kent Police and Crime Commissioner, Consumer Vulnerability Expert at the Money Advice Trust, and Member of CIVEA’s (The Civil Enforcement Association) Compliance, Adjudication and Review of Enforcement (CARE) Panel.

Course Programme

Session Content
The FCA's final vulnerability guidance
  • What it says
  • How it relates to complaints teams
  • What vulnerability in the UK look like today
  • Your complaints journey and your customers
Vulnerability and the complaints process
  • Identifying and supporting customers in vulnerable situations through the complaints journey (and beyond)
  • Colleague skills and capabilities
    • During the handling of a complaint
    • When arriving at an outcome
Data protection, systems and controls
  • What GDPR says we need to do
  • What information you need to record (as a minimum)
  • Where and how its recorded (and how does this link to other systems within your firm)
  • The relationship with root cause analysis and evidencing good outcomes.

 

This course can be delivered in-house at a time and location to suit your business and tailored to suit your people and organisation. We can also create bespoke training when something very specific is needed.Please contact us to discuss your requirements in more detail and at no obligation.

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