Consumer Duty is not a cliff-edge piece of regulation. Beyond the implementation deadlines, the Financial Conduct Authority will expect firms to monitor their performance against the Duty and develop an iterative, continuous improvement cycle.
Undertake an assessment of your Consumer Duty capability against a common industry benchmark, with the Altus Consulting Consumer Duty Self-assessment Tool.
The tool comprises 50+ questions on an organisation’s capability relating to Consumer Duty. The questions have four multiple choice responses, representing a low to high capability related to the question, which facilitates scoring the assessment as a percentage out of 100.
Altus Consulting has been helping clients to develop a compliant approach and mature their capabilities related to Consumer Duty, which is a complex task under the principles and outcomes-based approach. If you want to discuss your results from the Self-assessment tool, or your approach to Consumer Duty, please contact us