Training Courses

FSA - Embedding TCF in Operational Policy

Category: Regulation and Compliance

Course level: Introductory to Intermediate

In house

This 3-hour workshop is aimed at those in compliance, learning and development, marketing and operations who are responsible for making the necessary changes to embed TCF into the reality of business-as-usual.

The workshop will be highly participative. Real-life examples and the opportunity for group discussions will allow the delegates to consider industry best practice and how it can be embedded into the culture of their firm.

Objectives

By the end of this course, delegates will have a greater understanding of:

  • what TCF really means
  • necessary review procedures

Length

3 hours

Course Content

Overview

Principles of business

TCF initiative and how we got to where we are now
Industry response
Case study: Where do you think you are now? Delegates will form syndicate groups and be asked to consider: “If, on a scale of 1 to 10, 10 is ‘TCF embedded in group culture and the values are to be fair to all customers across the business’, and 1 is ‘TCF is a regulatory issue and we haven’t considered our approach yet’, where do you think the group is? The whole group will discuss each syndicate view.


Reviewing your business

What is fairness and how does this relate to selling?
Senior management responsibilities
TCF programme
Case study: The syndicate groups (which can be altered from the last exercise) will be asked to list the policy and procedure documents which should be reviewed to ensure TCF principles are being applied. As a minimum, each group should identify the following:

    Recruitment and remuneration policy
    T&C policy
    Complaints handling procedures
    Identification procedures for AML purposes
    Fact finds
    Sales process procedures

Obviously, there are many more and it would expected that the syndicates will cover a number of others


Building a TCF framework

Embedding it into the firm’s own culture
    Delegates will be asked to ‘Consider the evidence’ and
    decide whether TCF is embedded into their culture, its
    impact on the firm’s competitive edge and the cost of
    ignoring this initiative.

Case study: As a final exercise, the delegates will be asked to consider their individual roles within the group and note their next actions, with an initial timeline.

We will ask them to share these with the group and will look to develop some common themes across business areas so that economy of scale and business costs can be reduced.

 

This course would be suitable for:

  • Approved Person
  • Client services and call centres
  • HR and training
  • Investment administration and operations
  • Investment professionals
  • Legal & Compliance
  • Sales and marketing
  • Senior managers
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