Consumer Duty Regulatory Change Project

A Multinational Luxury Automotive Org.

Objective

Alba Partners was engaged to mobilise a project supporting the client to achieve.

 

Consumer Duty compliance by the regulation deadline with 2 key objectives:

 

  • Management Information – creating a Consumer Duty dashboard which conveys compliance to the regulation

 

  • Consumer Duty Sub-Projects – 5 sub-projects were launched to improve focused aspects

Alba Partners Solution

  • Reviewed and analysed all products and services against the Consumer Duty guidance.

 
  • Analysed all customer-facing processes to identify pain points, populate a gap analysis and agree prioritised remediation.

 
  • Created a centralised dashboard for companywide reporting.

 
  • Mobilised five sub projects to remediate agreed compliance gaps.

 
  • Identified 72 KPIs required for compliance.
 
  • Leveraged agile methodology to create a Consumer Duty KPI Dashboard, enabling ongoing identification, monitoring and remediation of poor consumer outcomes.

Outcome

Facilitated Consumer Duty compliance by the deadline by:

 

  • Accelerating the remediation of the sub-workstream gaps.

 

  • Providing holistic visibility for the client into any key poor customer outcomes via the Consumer Duty KPI Dashboard.

 

  • Improved processes to better align with the Consumer Duty Guidelines.

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