Consumer finance continues to be a fast moving and profitable area of financial services that continues to have a strong market place with a great deal of consumer demand.
In a market that is in a state of flux, with ongoing efforts to balance consumer protection with access to credit, this course is designed to consider how to best operate in a way that is effective, profitable and compliant with UK regulation.
During this very practical 1 day course we will delve into the core aspects of consumer finance operation and regulation, exploring how financial institutions can enhance the effectiveness of their loan book, manage customers, mitigate business and regulatory risks.. We will also provide a thorough overview of the FCA’s current Consumer Credit regulation and the evolving approach the regulator is taking to the market place.
This workshop is designed to equip financial institutions with the knowledge and strategies needed to navigate this dynamic environment. We will delve into the critical aspects of customer acquisition, loan origination and collections activity, exploring how to protect your organisation from emerging threats while ensuring compliance with the FCA’s stringent requirements.
This workshop is essential for Senior Managers, Risk Managers, Operational heads, and Compliance Officers who are committed to safeguarding their organisation’s place in the market place.
The aim of the course is to provide delegates with a clearer understanding of how to operate a compliant and profitable consumer finance business in the UK
What will you learn
By attending this 1-day Consumer Finance course you will learn about:
- The UK Consumer Finance market including Market size, key players and types of Consumer Finance Products available in the UK
- Key elements of the UK regulatory and land scape, focussing on the role of the primary regulator the Financial Conduct Authority, the key regulations and how best to comply with them
- The shape of successful business strategies through choosing the right business model to Identifying target markets and customer segments
- Understanding the necessary UK licences and registrations by investigating how to obtain the necessary authorisation and meeting the needs of ongoing compliance
- Developing a robust business plan that includes market analysis, financial projections, risk management and mitigation strategies
- Recognising key areas of customer acquisition and relationship management in the contact of regulation and positive customer interaction
- Understanding effective affordability and creditworthiness methodologies
- Appropriate and compliant collections and loan servicing activities
- Compliance and risk management in a heavily regulated market place
- Real life industry examples of best practices, post-implementation issues, and successful remediation
Course Content
- Overview and Introduction to the Consumer Finance Industry
- Regulatory landscape and key regulations affecting Consumer Finance firms
- Setting Up and Structuring a Consumer Finance Firm
- Business models and strategies
- Licensing and registration
- Developing a robust business plan
- Customer acquisition and relationship management
- Loan origination and underwriting
- Collections and servicing
- Compliance Management
Who Should Attend
- CEO of a newly registered or expanding FCA regulated UK Consumer Finance business
- Individuals looking to enter into the UK Consumer Finance market
- Consumer Finance Chief Operating Officer
- Operation management
- Consumer Finance Head of Risk and Compliance
- Risk and Compliance Management
- Non-Executive Directors looking to operate on the board of a UK Consumer Finance firm
