Understanding the FCA’s Resilience Driver

Description

The Financial Conduct Authority acknowledge Resilience as a driver of vulnerability. Their definition of resilience in this context is a low ability to withstand financial and/or emotional shocks. However, resilience is so much more than this.

Recognising the crucial role resilience plays in navigating life’s challenges, this course explores the underlying causes of low resilience and its impact on customers’ well-being and decision-making.

The 3-hour course will equip delegates with practical strategies tailored to build trust, foster a supportive environment, and empower customers to build their resilience.

Delegates will have the opportunity to reflect, share good practices and participate in course activities and case study discussions.

Benefits to your organisation:

• Trained staff can navigate difficult conversations and reduce customer frustration by offering appropriate solutions and support
• Training enhances employees' ability to empathise with customers, creating a more compassionate and understanding customer service culture
• Training reduces the risk of mishandling interactions with customers, minimising potential negative consequences and maintaining a positive organisational image
• Timely and proactive support reduces the likelihood of customer complaints and escalations
• Staff can guide customers to relevant support services and resources that can further help them build resilience and cope with challenges

What you will learn

Learning Objectives
By the end of this session delegates will be able to:

• Understand the FCA resilience driver
• Recognise a wide range of situations that lead to low resilience and how these impact customers
• Know how to support a customer experiencing low resilience and how to record relevant information
• Apply the knowledge gained from the course to better support customers

 Course Content

• Understanding Resilience
• Definition
• Types of resilience
• The importance of resilience

Resilience in Vulnerability

• The FCA Driver
• What does this mean and what does it look like?
• Financial resilience
• Emotional resilience

Impacts of Resilience

• Wellbeing
• Financial
• Capability

Supporting Resilience

• Managing the conversation
• Emotional support
• Practical support
• Recording resilience