Delivering on our Duty
Since July 2023, a significant proportion of those working in financial services have needed to operate within the scope of the Financial Conduct Authority’s (FCA) new Consumer Duty. Whilst the regulator published the final policy that outlines the structure and expectations of the Duty last Summer, a great deal of work has been done during the ensuing implementation period. However, with the exception of those specially tasked with the implementation, many practitioners still seem be at arm’s length to the process, if not completely unclear on what the Duty means for them.
Implementation plans had to be approved by firms’ Boards by the end of October 2022. Products and services must be reviewed before the end of April.
However, given the focus of the Duty is on the end-to-end process (from initial design to after-sales care) and the product or service lifecycle (how is the product being used and by whom), how ready is the sector to deliver on this new duty? What should individual professionals be doing right now to make sure they understand exactly how far reaching this new Duty is, and to ensure that they meet the new individual conduct rule - to act to deliver good outcomes for retail customers?
This event is held in collaboration with CISI.
Chair
Joanne Murphy is the Chief Operating Officer at the Chartered Banker Institute, delivering the Institute’s business-wide transformation and people strategy.
As COO, Joanne leads the strategic review and annual business planning activity at the Institute. Joanne’s remit includes driving our professional inclusion agenda and she has executive responsibility across a variety of business functions including Learning, Professional Standards, Membership, Business Support, Finance, People, Innovation and Marketing. Joanne was instrumental in the development and launching of the Institute’s new Principles of Responsible Banking Academy in October 2022.
Joanne joined the Institute to support the establishment of the Chartered Banker Professional Standards Board (CB: PSB). Joanne led the professional standards implementation, monitoring and evaluation, and devised the supporting operational infrastructure. She also oversaw the implementation of the CB: PSB Foundation Standard for Professional Bankers and its subsequent adoption by over 185,000 bankers globally.
Joanne has over 30 years' experience in financial services, working in a variety of roles in business and retail banking with RBS from 2002, and prior to that with GE Capital. Joanne’s career began working in marketing and research at Scottish Television in London. Joanne is a qualified learning professional with expertise in six sigma methodology, in consulting and project capacity her activities include outsourcing, international relocation and process improvement.
Joanne is a member of both the Institute and of the Chartered Institute of Personnel & Development and holds an MBA in Banking and Finance.
Panellists
Steve has worked in banking for over 40 years and is currently a Non Executive Director at Bank of Ireland where he chairs the Remuneration Committee. He sits on the Advisory Board of The Arora Group and Kingsley Healthcare and was previously on the Financial Capability Board of the Money Advice Service.
During Steve’s banking career he was CEO of The Hodge banking and life assurance businesses and Shawbrook Bank.
Prior to joining Shawbrook in 2008, he led the UK banking businesses of Santander UK sitting on the UK Board of the Holding company and various UK subsidiaries. He also represented Santander on the Board of its US businesses.
Prior to joining Santander in 2008, Steve spent eight years at RBS, where he was CEO of Business Banking, Retail Markets and Managing Director of Commercial Banking and Corporate Banking, Corporate Markets.
Steve was presented with an Honorary Degree of Doctor of the University of Kent in 2016 for his contribution to Banking and the University. He has a young family and in his “spare time” likes to follow Everton football club and Sussex county cricket team.
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If you have any difficulties registering for this event, please contact Melissa Law.