FCA Consumer Duty – Is Your Project Team Ready?

FCA Consumer Duty implementation is top of mind for many organisations, and with good reason!

The rules apply to regulated firms providing retail financial services to consumers, such as personal banking, insurance and investments. 

With the October 2022 deadline for organisations who are in scope to agree their implementation plans now passed, many are facing the reality of the key challenges that they face in order to conform with the regulations.

These might include:

✔️ Accurate mapping of customer journeys – to demonstrate acting in good faith right through the customer journey, and throughout the lifecycle of their products and services

⏳ Effective product governance – embedding the required products and services outcome rules in order to deliver good outcomes for their customers

💡 Evidencing their plans and actions to effectively implement the regulations within their organisation

It’s going to prove challenging to deliver on the required Consumer Duty commitments by July 2023.

Does your Project Team have all the required skill sets?

Change Specialists Flex Service (CS Flex) supports your programme of work by enabling you to buy in professional change capability when and where its needed, to support the delivery of successful outcomes.

More targeted, flexible, dynamic and cost-effective than traditional approaches to change management and delivery. All backed by our Change Specialists Service Assurance model.

What difference would CS Flex make to the success of your Consumer Duty Implementation Project?

Contact the Change Specialists today to discuss your resourcing challenges.

info@changespecialists.co.uk / 01379 871144

Consumer Duty Implementation Timeline