An effective, holistic approach to analysing and evaluating issues
Framework design and implementation plays a crucial role in managing conduct risks. It is essential to follow an effective, holistic approach when analysing and evaluating issues. You must take into consideration the customer journey, product design, systems and processes, sales, culture and governance and, on top of this, how these all affect customer outcomes.
It's challenging, of course, but becomes simple with the right support.
CONDUCT RISK
The Financial Conduct Authority (FCA) expects firms to have an effective conduct risk framework in place to deliver fair outcomes for customers.
There is no one-size-fits-all approach to conduct risk but, thanks to our understanding of best practice and experience in improving standards of behaviour, our experts can provide tailored programmes to meet your firm’s needs.
Huntswood is a specialist in conduct risk and can assist your firm in identifying and addressing conduct risks in your current and future propositions. In collaboration with our technology partners, we can work with you to identify exactly what to monitor and how to develop the appropriate MI to demonstrate that conduct risk is being managed effectively.
YOUR NEEDS, OUR SOLUTIONS
End to end framework design and implementation
Automated compliance monitoring
Reviews and investigations
Product governance and journey review
Outcomes testing
Advice suitability reviews
Complaints management
Policy, process and procedure
Legacy issues are a common frustration for firms looking to innovate and advance their offerings. It’s painful to see change projects held up by internal ‘red-tape’ and structures that are no longer delivering efficiencies.
KEY BENEFITS:
- Reduced regulatory risk due to a clear view of product performance and potential product design risks
- Early identification of poor customer outcomes through the sales process at both a business and case level - covering past, current and future business
- Rectification of identified customer detriment and mitigation of risk through root cause analysis, remediation and changes to policy, process, product design or training as required
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