FCA-Regulated Firm
The Challenge
An FCA-regulated firm required support to strengthen its Consumer Duty framework and demonstrate effective oversight of customer outcomes. Management had concerns regarding governance, management information quality, outcome monitoring and board-level oversight.
Our Approach
Governance Structure
Consumer Duty governance and accountability frameworks
Outcome Testing
Methodology for testing customer outcomes
MI Framework
Management information for monitoring outcomes
Compliance Monitoring
Framework for ongoing compliance oversight
Enhancement Areas
- Consumer Duty governance structures
- Board and committee reporting
- Outcome testing methodology
- Management information frameworks
- Root cause analysis processes
- Vulnerable customer considerations
Key Results
- Enhanced governance and accountability
- Improved Consumer Duty management information
- Strengthened board reporting
- Better evidence of customer outcomes
- More effective compliance monitoring framework
Outcome
The firm improved its ability to demonstrate compliance with FCA expectations while enhancing oversight of customer outcomes and regulatory risk.
"RMO Risk & Advisory provided exceptional support in strengthening our internal control environment. Their pragmatic approach helped us identify key risks, improve governance processes, and enhance compliance across the business. The team delivered clear, actionable recommendations and worked collaboratively with stakeholders at all levels."
Head of Risk & Compliance
Leading UK Financial Services Firm