The Consumer Duty Management Information (MI) Template is a strategic tool designed for firms to monitor, analyse, and improve consumer interactions and compliance with the Consumer Duty framework. It facilitates the systematic collection and analysis of key performance data, ensuring alignment with regulatory expectations and consumer protection principles.
This template assists firms in conducting detailed evaluations of consumer touchpoints, measuring product and service understanding, satisfaction metrics, and feedback. It ensures that firms are equipped to adapt to regulatory changes and maintain high standards of consumer interactions. Your digital download includes:
Analytical Sections: Detailed components like Trend Analysis and Customer Support Effectiveness for data interpretation and strategic planning.
Action Items: A structured approach to converting insights into practical initiatives for consumer protection and service improvement.
Threshold Monitoring: An integrated system for identifying metrics that surpass predefined limits, signalling potential areas needing attention.
Methodological Guidance: Clear instructions on data collection methodologies to standardise the process and ensure reliability.
Comparative Reviews: Methodical month-on-month or quarter-on-quarter analyses to assess performance metrics and detect areas for enhancement.
Compliance Checks: Ensures analyses and actions comply with regulatory standards, promoting adherence to industry best practices.
Customisability: The template can be modified to suit individual operational needs and consumer demographics.
Utilising the Consumer Duty MI Template regularly enables firms to maintain compliance with regulatory requirements and prioritise consumer interests in their operations. It identifies discrepancies in consumer outcomes and anticipates potential issues, allowing for timely corrective measures. This systematic approach supports firms in upholding consistent, high-quality consumer interactions and compliance standards.