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consumer duty advanced e-learning

Consumer Duty Advanced – E-Learning Course

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Duration: 80 minutes. Including videos, interactions and assessment.

E-Learning Course Content:

This highly interactive and engaging e-learning course focuses on the topic of Consumer Duty and provides an advanced, detailed look at the standards of consumer protection required by the Financial Conduct Authority (FCA).

The e-learning can be provided as SCORM files, or on a subscription basis, whether hosted on your own Learning Management System, or using our, feature-rich, easy-to-use learning platform.

Watch this video for a quick overview of the e-learning course:

What’s the course about?

Consumer Duty – Advanced

Develop an in-depth understanding of the Consumer Duty

The Consumer Duty is a standard introduced by the Financial Conduct Authority (FCA), which is designed to improve the protection given to consumers of financial services products. Organisations are expected to fully integrate these responsibilities into their operations and ensure measures are in place to safeguard customers.

The Consumer Duty encompasses fundamental principles, fresh regulations, and outcomes, all with the objective of elevating the quality of care provided to customers in financial sectors. It mandates that firms prioritise their customers’ requirements at all phases of product or service development and delivery.

The aim of this advanced online learning course is to provide a comprehensive exploration of the Consumer Duty and detailed actions and activities that should be taken to ensure compliance with this important regulation.

Who is it for?

This online learning course applies to anyone that works within the financial services industry or anyone that would like an in-depth understanding of the topic. Therefore, potential learners may include:

  • Directors
  • Managers
  • Financial Advisors
  • Mortgage Advisors
  • Banking Employees
  • Insurance Employees
  • Sales Staff
  • Team Leaders
  • Supervisors
  • Employees
  • Consultants
What does the course look like?
  • It’s an online e-learning course
  • Containing four interactive modules
  • Includes sensible hints and tips for success
  • Blending text, graphics, videos, quizzes, and interactions
  • Regular on-going practice as you progress
  • A full final assessment with CPD certification​
Objectives

To put it simply, this online course aims to provide learners with an advanced understanding of the Consumer Duty regulations to ensure compliance with the FCA regulations. With this e-learning course:

  • Explain Consumer Duty and the requirements and responsibilities of everyone involved in the provision of financial products and services
  • Describe the Consumer Principle and what it means for firms
  • Clarify how firms should act to deliver good outcomes for retail customers using the cross-cutting rules
  • Demonstrate how your firm’s business models, culture, and actions taken are all focused on delivering good outcomes for retail customers​
Module 1 – The Consumer Duty
  • Describe the components that make up Consumer Duty
  • Explain the scope of the duty and who it applies to
  • Establish when Consumer Duty must be considered
  • Identify financial activities that are within the scope of Consumer Duty
  • Describe what Consumer Duty means for firms, their employees and customers
  • Clarify what good ‘outcomes’ the FCA expects firms to focus on for customers
  • Review scenarios to determine where Consumer Duty applies
  • Deliver good outcomes for customers and groups of customers by following the guidelines
  • Explore what the FCA expects from firms and their employees under the Consumer Duty
  • Establish the responsibilities and obligations of firms, board members, third parties, management and staff under the Duty
  • Recognise the responsibilities that consumers have
  • Explain the concept of reasonableness and how this applies to Consumer Duty
  • Identify key questions firms should ask to help ensure they provide a standard of care under the Duty
  • Test your knowledge and understanding of the Consumer Duty
  • Complete knowledge checks throughout to help embed learning​
Module 2 – The Consumer Principle
  • Explain the Consumer Principle and other components of the Duty and what they mean for firms
  • Explore the principles for business and how they are applied
  • Recognise the other laws and obligations firms have
  • Identify what ‘act to get good outcomes for customers’ means
  • Establish the questions firms should ask to help ensure they are acting to get good outcomes for customers
  • Rate your current understanding of the consumer principle to identify skill gaps
Module 3 – Cross-Cutting Rules
  • Explain the cross-cutting rules and other components of the Duty and how they can help firms ensure good outcomes for customers
  • Establish when the cross-cutting rules apply by reviewing examples
  • Determine what acting in good faith means when dealing with customers
  • Identify actions within your organisation that may hinder ‘acting in good faith’ and what actions you can take to resolve them
  • Avoid causing foreseeable harm by implementing corrective actions
  • Enabling and supporting retail customers to pursue their financial objectives
  • Rate your firm’s current compliance with the cost-cutting rules
  • Identify how the cross-cutting rules work together
  • Test your knowledge of the cost-cutting rules
Module 4 – The Outcomes
  • Explain the outcomes of the Duty and their more detailed expectations in key areas
  • Improve outcomes in the firm-customer relationship
  • Establish what the outcomes mean for firms
  • Explore the different questions firms should ask to help improve customer outcomes
  • Meet the products and services outcome for customers
  • Meet the price and value outcome for customers
  • Meet the consumer understanding outcome
  • Meet the consumer support outcome
  • Explore what actions to take when you are failing to meet expectations
  • Rate your firm’s current compliance with the four outcomes
  • Establish how achieving the outcomes will likely mean you are meeting the cross-cutting rules
  • Test your knowledge and understanding of the outcomes as outlined in the Consumer Duty
  • Complete knowledge checks throughout to help embed learning​
Module 5 – Assessment and CPD certificate
  • A chance to test your knowledge of the topic with scoring
  • The e-learning course comes with free CPD certificates for the learners​
Why subscribe to this e-learning course?
  • Practical courses – This course is designed to help your learners in the real business world, giving them practical skills that they can quickly and easily implement in the workplace.
  • Interactive and engaging – Learning doesn’t have to be boring. This multi-media course is designed to keep your participants engaged throughout.
  • Step-by-step learning – This course is broken down into easy to manage bite-size chunks. From start to finish we take your learners on an enjoyable learning journey.
  • Fully accredited – The CPD Verification Service accredit all our courses, so you can be sure our training materials are of the highest standard.​​​​​​​​​
LMS integration

Where clients are not using our LMS and wish to host it on their own LMS instead, we provide SCORM files that they can simply install directly. Although these files are added to the clients LMS as usual and the user will access and view the course exactly as they would if it was built on the clients system, we are still able to track user numbers our side and also provide regular updates to the content.​​​​​​

E-Learning Alterations

Our e-learning products are always provided ‘white-label’ with no Trainer Bubble logos or references to our company.

We also understand that you may like to make alterations to the content. Whether it’s minor edits, larger alterations, adding of logos, or swapping images to better reflect your corporate identity – we can provide this change for a small fee.

Please note: We regularly update our courses to reflect legal changes or just general improvements to content. All this happens without you having to lift a finger whether the course is on your LMS or ours.

Price

​We have a variety of options for payment of this e-learning course. Please click on the Get a Quote button below, so that we can create a personal quote that suits your specific requirements.

If you are unsure of your e-learning requirements, you can also visit our sister website to find out more about our online learning services – Learner Bubble.​​​​​​

‘Off-the-Shelf’ Price – £3,000+vat

Consumer Duty Advanced – E-Learning Course

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