Has your Firm embedded your conduct risk framework?

Ensuring fair customer outcomes is at the heart of effective conduct risk control. In the marketplace, conduct risk is aimed at improving competition, ensuring that good customer outcomes are driven by strong corporate culture reinforced by internal policies and procedures with incentives driven by customer outcomes.

Management Information that is driven to identify product performance before, during and after the point of sale, breaches of staff conduct which is supported by a whistleblowing process that allows a bad practice to be identified at the earliest opportunity, and trend analysis along the product delivery and performance channels.

We can help senior management to fulfil their responsibilities by establishing the right framework and putting in place the policies and procedures required to instil and enforce the right culture and governance arrangements.

Conduct risk services tailored for Your Firm

We will advise senior management on the nature of conduct risk and their role in developing and embedding an effective control framework. Starting with the ethical culture of your Firm, we will work with you to establish an effective internal conduct risk policy and supporting procedures.

This could include:

Identifying conduct risks in your business

  • Reviewing product origination and approval
  • Delivery channels
  • Incentive schemes
  • Market practices
  • Obligations to Customers

Governance structure

  • Embedding an ethical culture into the firm
  • Advising on the design of an effective governance structure
  • Creating appropriate MI for supervisory oversight
  • Update compliance documentation to manage conduct risk

Apportion responsibility

  • Advice on the appropriate allocation of responsibility across the three lines of defence

Outcomes testing & Management Information (MI)

  • Develop MI that tests for fair outcomes

Independent review

  • Review every aspect of your conduct risk framework
  • Carry out independent outcomes testing
  • Submitting reports to senior management

If you are concerned about any part of conduct risk, then we can help. We can advise and implement conduct risk procedures that meet the regulators’ expectations. This includes, if required, providing a robust challenge to your business plan, products and procedures and helping you ensure that you can demonstrate that your framework fully meets the demands of the regulators and the needs of your customers.

We have a dedicated team of experienced compliance consultants who can provide expert assurance and peace of mind. Get in touch to see how we can help your Firm.