Managing Insurance Conduct Risk under the FCA - Searchlight Insurance Training

Managing Insurance Conduct Risk under the FCA

The implementation of the EU’s General Data Protection Regulation (GDPR) and Insurance Distribution Directive (IDD) during the course of 2018 mean that it’s now more important than ever for regulated firms to understand the implications and impact of conduct risk, particularly in relation to senior management accountability and the promotion of customer-centric business culture.

This workshop is designed to help attendees make the necessary links between new legislative and regulatory requirements, the effective management of conduct risk and the fair treatment of customers.

Level:

Duration: 0.5 day(s) CII CPD Hours: 3
     

WHO WILL BENEFIT?

The workshop is suitable for:

  • Insurers and Brokers
  • Approved Persons / SIMF holders
  • Compliance professionals
  • Any operational line managers whose roles are directly affected by these rigorous regulatory expectations, which go to the heart of any business and how it is run

WORKSHOP OBJECTIVES:

Attending this workshop will help delegates to:

  • Understand conduct risk and its relationship to the customer-centric culture, with particular attention paid to the impact of updated data protection and insurance distribution requirements
  • Reconsider the FCA’s Treating Customers Fairly (TCF) Customer Outcomes, to ensure that these are understood and recognised to be fundamental to addressing and mitigating conduct risk
  • Recognise customers’ “moments of truth” and how different functions can influence these across the product life cycle
  • Convert the regulatory expectations into robust yet workable and proportionate processes, systems and controls
  • Identify where fairness and conduct risk are – or need to be – further embedded in the organisational culture
  • Understand that good conduct and fairness are not just regulatory “must do’s” and how “doing the right things right” can be a source of competitive advantage