Regulatory and Risk Management

Regulation and risk management

Increased importance in the workplace

Regulation and risk management is an increasingly complex and important issue for organisations which directly provide services for customers.

Avoid the need for damage control

When they get it wrong they can suffer major reputational damage as well as management distraction, customer complaints and distress and large costs in putting right failing operations and compensating customers.

Focus on your customers’ outcomes

It is important to build strong risk and compliance approaches driven by an understanding of the current regulatory agenda and a focus on customer outcomes rather than bureaucratic controls. You can gain the trust of regulators and your customers and avoid the costs of regulatory failure. As in any high risk activity, managing risks can help you get ahead of your competition and win.

We bring very experienced risk and regulatory consultants with a practical understanding of how to satisfy the regulator and satisfy customer needs.

Unlike other consultancies all of our regulatory specialists have worked at the sharp end in firms and understand the pressures, conflicts and dilemmas they face. We provide simple, trust worthy, high quality solutions whether you are building new business propositions or fixing ones that have gone wrong.

Examples of how we can help

Our specialists can independently review your policy and procedures against best practice and regulatory requirements. Rather than simple checklist auditing we assess the risks to good customer outcomes and let you know if these are being achieved.

We can provide independent consultancy and advice in all areas of Conduct of Business regulation and fair treatment of customers, including helping you in discussions with regulators and auditors.

Enterprise Learning is on the FCA and PRA panels of ‘Skilled Persons’ and able to carry out Section 166 reviews and investigations in all Conduct of Business areas.

These complex and highly technical projects require experienced consultants who bring our unique combination of financial services understanding, regulatory expertise and stakeholder management to ensure that the needs of clients, regulators and customers are fully met.

Our structured protocols and reporting procedures coupled with our experience and focus on how well customers are being treated, enable us to carry out Section 166 reviews cost-effectively, independently and fairly.

We can help you deal with your regulators either during regular communications and audits or supporting you in dealing with regulator interventions such as Risk Mitigation Plans or even Enforcement.

Our practical experience, expertise and independence allows us to help you gain the trust of your regulators and ensure that you can comply with their requirements with cost-effective, customer-friendly so.lutions that minimise disruption of your business.

We can work with senior managers to ensure that you have sufficient line of sight to the experiences and outcomes of your customers, ensuring that management can identify risks or issues early and act on them immediately

SMCR is a major new initiative to reinforce personal accountability and conduct at all levels, from Board to Customer Services.

We provide a ‘one stop shop’ for clients to develop their policy and procedures, including employment screening, contracts, responsibility statements and mapping. We also provide tailored education for senior managers to understand their accountabilities, the FCA/PRA agendas and good practice oversight and governance. We also have guides and benchmarking tools managers can use to assess their regulated operations.

Our innovative approaches to educating Senior Managers, Certification roles and the wider Conduct Rules populations are simple, practical and related to the activities of their roles.

We can also advise and develop performance management, targets and remuneration, record keeping systems and competence assessments.

Take a look at our  Factsheet

We can educate and coach Approved Persons, Directors, Senior Managers and specialists about what the regulator expects of them and the lessons from previous regulatory failures.

Providing more and more information to customers does not put them in a fair position of informed choice. It can be confusing, costly and, in fact, increase the risk of them making the wrong decisions. We can help you simplify your customer documentation and communications making them ‘smarter’ and more effective in driving fair outcomes and reducing complaints.

We can also help you consider the ways in which your customers think and make financial decisions (“Behavioural Economics”) so that you can ensure your customer communications and processes align with them.

Take a look at our Factsheet

We can investigate problems and provide you with an independent analysis of what went wrong and how similar issues can be avoided in the future.

We can provide end-to-end advice and management of complex remediation projects, ensuring customers get appropriate redress and that you get the endorsement of managers and auditors.

Our research, tools and guides help you to understand where you stand compared to competitors and whether you match up to current regulatory expectations. We use these tools and guides in our consulting assignments when we are asked to review regulated activities, and they are available free of charge on our website for you to in our  Toolkits and Downloads pages.

Toolkits and Research available covers topics including:

– Regulated Advice and Sales
– Quality Assurance/Monitoring best practice frameworks
– Risk and Conduct Culture
– Training and Competence
– Regulated sales, customer services and operations

We provide practical training and education for your compliance and risk staff both in their technical understanding of business and regulatory requirements and their skills in advising the business and carrying out their difficult roles effectively.

Topics on which we have provided education and training for clients have included:

  • Carrying out audits and writing audit reports
  • “The Trusted Adviser”: advisory and interpersonal skills for risk and compliance professionals
  • Assessing customer outcomes in sales and customer operations
  • Developing customer redress and compensation treatments
  • Behavioural economics: the emerging regulatory priority.
  • The FCA Smarter Communications agenda
  • Best practice complaints handling
  • Business continuity and maintaining customer outcomes
  • Best practice Quality Assurance monitoring

For more information about our services contact us on

+44 (0) 1444 411416

Or Email Us

Find out more about how we do this, take a look at our case studies

Click Here

“As they’ve gone through the EL development programme, we can see the change in our colleagues in Risk and Compliance and can also understand better the challenges they face in a difficult job. As Customer Services Director, I am emphasising this to my team in the contact centres so that we work more effectively with them and hopefully make all our jobs easier”

OUR CLIENTS

AWARDS

WINNER: Best Customer Services – Compliance Register Awards 2016


FINALIST: Best Training Provider – Compliance Register Awards 2016

FINALIST: Best Business Development Project – British Excellence in Sales & marketing Awards (BESMA), 2016


WINNER: Best Consulting Firm of the Year – Thompson Reuters Awards 2011

WINNER: Best Consulting Services – Compliance Register Awards 2007


WINNER: Best Training Services – Compliance Register Awards 2006