Vulnerable Customers eLearning
Overview
Protecting vulnerable consumers has been a key focus for regulators, such as the UK Financial Conduct Authority (FCA), over the past few years.
This module explores the FCA’s guidance in relation to vulnerable customers and highlights the key issues that financial services firms should consider in relation to vulnerability. It also explains the practical steps that staff members can take to make sure that fair outcomes are achieved for vulnerable customers.
This module and the end assessment can be tailored to incorporate client-specific content.
Who is this for?
The module is suitable for all employees who require an overview of the topic. It can be tailored to include reference to your firm’s specific policies and procedures.
Where required, it can also be supplemented by additional face-to-face (or virtual) training for those members of staff who would benefit from more detailed and/or bespoke training.
Course Details
- Introduction
- Understanding the scale of the challenge
- Understanding the scale of the challenge
- What is vulnerability?
- How does the FCA define vulnerability?
- Key characteristics associated with vulnerability
- The impact of vulnerability
- How to assess the impact of vulnerability
- Putting it into practice
- Law and regulation
- FCA rules and guidance
- Enforcement action
- Related UK laws
- The Equality Act 2010
- The General Data Protection Regulation
- Your role in identifying and supporting vulnerable customers
- How do you identify vulnerability?
- Practical steps staff can take to support vulnerable customers
- Recording information about vulnerability
- Getting help or support
- Key things to consider during the customer journey
- Design and review of products and services
- Sales and distribution
- Customer service
- Communications
- Case study
- Immersive case study highlighting the key things to consider in relation to a vulnerable customer
- Immersive case study highlighting the key things to consider in relation to a vulnerable customer
- End of course assessment
Delivery
Have the flexibility to deliver your In-House training in-person by one of our trainers at your premises, or virtually via Zoom, Teams or Webex.
Find out more about your Virtual or In-Person training experience below.
Virtual Delivery
Our virtual training courses are designed to be every bit as engaging as our in-person courses. To achieve this, our trainers use market-leading technology and a range of training techniques to ensure high levels of interaction with participants. Courses include the use of:
- Virtual ‘break-out’ rooms: participants are divided into virtual rooms to facilitate small group discussion.
- Polling: multiple-choice questions, answered anonymously, allow the trainer to assess knowledge and understanding across the group.
- Case studies: true to life case studies and scenarios are used to highlight the practical application of theoretical knowledge.
- Messaging: participants can submit questions and comments, either to the whole group or privately to the trainer.
Additional Benefits:
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Recording: public course participants have the option to access a recording of the course for one month after the course. In-House clients also have the option to record their training for an additional fee.
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On-going Q&A: public course participants can access an ongoing Q&A facility allowing them to ask questions relating to the course.
In-Person Delivery
Our in-person training is delivered face to face at your offices, and includes:
- ‘In-the-moment’ questions & discussions: questions through conversations allow the trainer to assess knowledge and understanding across the group.
- Case studies: true to life case studies and scenarios are used to explore practical application of theoretical knowledge.
- Q&A: participants can ask questions during training, either to the whole group or privately to the trainer.