How effective is your vulnerability policy?
Our policy effectiveness assessment is designed to help you check if there are areas of your vulnerability policy, that might need a closer look or a refresh.
The suggested questions are grouped into four sections. They relate to the four key areas highlighted by the FCA’s Finalised Guidance (FG21/1) to achieve good outcomes for vulnerable customers.
- Understanding target market needs
- Policy and approach - Staff skills and capability
- Training your teams and effective client communication - Responding to customer needs
- Systems, process and reporting - Monitoring and assessment
- Recognising vulnerability
In addition to helping you assess the effectiveness of your vulnerability policy, we can help you keep it relevant. For example:
- Team training sessions on identifying, supporting and recording a wide range of vulnerabilities consistently
- Dementia Friends sessions
- Awareness training on behavioural biases
- Dedicated telephone support
To find out more about this process and to discuss a free consultation, please contact your Account Manager or email us.
