PIMFA
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With fundamental regulatory change like the introduction of the Consumer Duty, the problem for firms both large and small often isn’t with planning – many strategies are well developed – but with execution. The Consumer Duty series tackles the implementation of Consumer Duty head-on to provide PIMFA member firms with a well-structured approach for Project Leads, Compliance & Risk Heads alongside Senior Managers to confidently meet the July deadline.
You will return from each of the three sessions with a set of tools and approaches you can use to:
- Improve your ability to organise, manage, and prioritise the key requirements of the Duty
- Anticipate and avoid pitfalls that could derail your project plan.
- Respond to FCA’s latest announcements and instructions.
- Address your firm’s most critical Consumer Duty issues.
- Feedback and answers to your Consumer Duty execution challenges
This workshop will focus on:
- How firms can develop Consumer Duty MI, reporting and governance that covers the appropriate products, services, touchpoints and customer types for their unique activities.
- How the Board can demonstrate that making good outcomes for consumers is central to their firm’s culture, strategy and business objectives.
By the end of this workshop, you will:
- Get clarity on the different data to be collected across each of the key Consumer Duty outcomes
- Identify and bridge gaps in your MI
- Develop actionable and understandable MI, that meets regulator expectations
- Consumer Duty obligations will require different data to be collected across each of the key Consumer Duty outcomes
- Learn, from our own research, how firms intend to use MI to evidence good consumer outcomes
- Know how to join the data dots up between different areas of your business to form a coherent Board report
Format and approach
This two-hour online session is an interactive learning experience that brings the research and experience of the PwC Wealth Management team together with senior managers who want to strengthen their firms’ approach to Consumer Duty implementation. In this online workshop, you will be broken into smaller discussion groups to work through exercises, discuss scenarios and collaborate with your peers on solutions to overcome even your most challenging execution obstacles.
More about Nick Hawker
Nick is an experienced Senior Manager in PwC’s Asset and Wealth Management Risk & Regulation practice with over 12 years experience in the asset and wealth management industry.
Nick has been working recently with a number of UK asset managers, wealth managers, and platform businesses on elements of their Consumer Duty programmes. Nick has particular expertise in helping clients with designing an approach for delivering on the product and services, and the price and value outcomes.
Nick has previously led multiple projects assisting firms with implementing the FCA’s assessment of value requirement, many elements of which now map to the new Consumer Duty.
More about Jazpreet Rana-Patel
Jazpreet is a specialist in Asset and Wealth Management regulation and has strong experience of working closely with and advising senior management on FCA regulatory requirements and industry best practice. She has successfully assisted clients with the implementation of regulatory development and change projects, and is currently focussed on providing advice to investment firms on their Consumer Duty readiness.
Prior to joining PwC Jazpreet worked at the FCA for 4 years within the Asset Management Supervision Department.
More about Victoria Akintomide-Akinwamide
Victoria specialises in Asset and Wealth Management Regulation. She supports firms with meeting conduct requirements with a particular focus on product governance, board effectiveness and tech enabled regulatory solutions. She recently advised a large UK Asset and Wealth Manager on how to better meet the FCA’s governance expectations and is supporting firms with their Consumer Duty readiness.
Prior to joining PwC, Victoria worked in the authorisation and specialist supervision teams at the FCA.
