Society’s expectations of organisations have fundamentally shifted – we saw this play out over the past few years through the events leading into and examined at the Financial Services Royal Commission, and beyond. When it comes to conduct, all organisations are now under the spotlight – judged by the 1% of what goes wrong, not the 99% of what goes right.
Taking action to identify and address conduct issues is now imperative for senior leaders and Boards; it’s no longer good enough to wait for issues to present themselves.
Implementing a robust Conduct framework provides a systematic approach to help identify and address conduct vulnerabilities, and helps organisations to demonstrate a commitment to proactively identifying the ‘1%’.
Good quality, insightful reporting on customer outcomes, trends and the root causes of any incidents or breaches support senior management and board oversight and decision making, help identify new and emerging risks to fair and suitable customer outcomes, as well as opportunities for improvements to business processes and the products and services provided to customers.
We work with clients to design and assess frameworks to treat customers fairly, including the development of conduct, product governance, sales practices and complaints handling frameworks. We also help clients identify where they may be the most vulnerable to conduct issues, and help them to design and implement solutions to address these.