Consumer Duty - where you need to be and how we can help

The FCA say the new Duty sets higher and clearer standards of consumer protection across financial services, and requires firms to put their customers’ needs first. Sentiment we are sure we can all buy into but are you and your firm ready to meet the standards set by the Duty?

• The Consumer Duty – the findings
• Where you need to be
• The Gap Analysis
• What you can do
• The April deadline, why is that important
• How we can help

• Understanding the FCA requirements of the Consumer Duty
• How data and MI is important
• How you can evidence Consumer Duty compliance and report to the FCA in the required fashion

Prior to the session and to help them to get the most from the time we would ask attendees to confirm their top 3 concerns/challenges/issues with the Consumer Duty.

We are delighted to welcome to Aberdeen Chris Davies, Founder and Director of Model Office Ltd.

Chris has 30 years experience in retail financial services in the UK, and internationally in Asia and Australia as an IFA, wealth manager, consultant and RegTech founder.

In 2018 Chris launched “Model Office”(“MO”) a RegTech and digital audit platform that allows firms to self audit and automate the diagnostic, gap analysis and audit report compliance phases and receive tailored tasks, dashboard alerts and resources to manage governance risk and compliance, improving professional practice and lines of defence whilst cutting compliance time and costs such as Professional Indemnity Insurance renewals as MOs latest research illustrates.

MO’s algorithms allow firms to benchmark their governance, risk and compliance activities against The FCA regulations, their papers, key directives such as KYC, AML, Suitability, MiFIDII, SM&CR and the Consumer Duty and their peers plus gain regulatory dashboards with digital strategies and resources to improve compliance scores. Also MO, has developed an AI text analysis software to auto-audit compliance documents and a chatbot compliance assistant answers compliance questions and interrogates the FCA handbook and world wide web for required answers and guidance to improve compliance scores. The platform also integrates with back office technology to interrogate a firm’s data and provide streamlined regulatory and financial resilience reports.

Chris’s experience has given him an in depth understanding of the Fin/RegTech eco-system and the direction of regulatory and commercial travel. Thomson Reuters risk, compliance and RegTech influencers listings ranked Chris in their UK top 30 most influential thought leaders with MO also voted in the UK’s top 50 RegTech firms by ING RegTech Markets and gained Schroders platform award in best industry technology category 2021.

Chris is a Chartered member of The Chartered Management Institute and an Associate member of the Chartered Institute for Securities and Investments and holds an MSc in Organisational Behaviour.

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