Operating in the UK’s Consumer Finance Market
Course description
Learn from a senior expert how to operate effectively and in a compliant manner in the UK Consumer Finance Sector.
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
Main topics covered during this training
- 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
Operating in the UK’s Consumer Finance Market
Introduction to the Consumer Finance Industry
- Overview of the UK consumer finance market
- Market size, key players, and trends
- Types of consumer finance products (personal loans, credit cards, payday loans, etc.)
- Regulatory landscape
- Role of the Financial Conduct Authority (FCA)
- Key regulations and compliance requirements (e.g., Consumer Credit Act, GDPR, Anti-Money Laundering regulations)
Break
Setting Up and Structuring a Consumer Finance Firm
- Business models and strategies
- Choosing the right business model
- Identifying target markets and customer segments
- Licensing and registration
- Obtaining necessary licenses and approvals
- Meeting FCA requirements and ongoing compliance
- Developing a robust business plan
- Market analysis
- Financial projections and funding strategies
- Risk management and mitigation
Lunch Break
Operational Excellence
- Customer acquisition and relationship management
- Effective marketing strategies for consumer finance products
- Building and maintaining strong customer relationships
- Loan origination and underwriting
- Credit assessment and scoring methodologies
- Risk-based pricing and decision-making processes
- Collections and servicing
- Efficient debt collection strategies
- Managing delinquency and defaults
- Customer service and support best practices
Break
Compliance Management
- Compliance and risk management
- Ensuring compliance with FCA regulations and industry standards
- Implementing Anti-Money Laundering (AML) and fraud prevention measures
- Data protection and GDPR compliance
- Ethical considerations and consumer protection
Recap and Q&A Session
- Recap of the day’s topics
- Open floor for questions and discussions
- Sharing additional resources for further learning and development
Trainer
The course is conducted by a highly experienced regulatory consultant, previously a compliance and risk director who has undertaken a number of Interim Head of Risk & Compliance roles associated with outsourcing, monitoring and assurance projects.
His interim roles included FCA-approved head of Risk & Compliance and Money Laundering office positions for a large insurance firm, investment, Financial Technology and Consumer Credit firms.
His breadth of experience includes working across the Insurance, Investments, Consumer Credit, Fund Management and Private Wealth Management sectors.
Paul successfully led a number of companies through regulatory authorisation applications, regulatory change of control applications and variation of regulatory permissions.
He has also undertaken senior Risk & Compliance interim consultant roles that have required strategic assessments and restructuring. Paul has also led and continues to lead FCA S166 reviews as well as acting as FCA Liaison for firms where support has been needed. He is currently advising a number of firms on the FCA compliance matters and regulatory risk management while acting as the Head of Risk & Compliance for a small investment management firm.
FAQ
We offer banking and finance courses as well as soft skills and business management training. You can either attend an open public course in London or Dubai or arrange customised in-house training to be delivered in any of your offices worldwide.
Most of our public courses are run over 2 full days. Some programmes are offered as a 1 or 3 day training.
In-house training is tailored to client’s requirements and can be organised over 1 day, 2-3 weeks or longer.
Public courses are organised mainly in London and Dubai. Occasionally we organise courses in other centres like Paris or New York. Check our public course calendar for the current list of programmes. We use a range of training venues, all in the centre of the cities and with excellent transport links to the airports and train stations.
In London we use venues in the centre (near Oxford Circus station or in Mayfair) or in the City (near Liverpool Street or Moorgate stations).
In Dubai our courses are organised in one of 4-5* hotels in the Deira district. Once you register we will send you detailed information together with accommodation options if required.
Our in-house courses can be delivered anywhere in the world. We work with over 25 trainers worldwide. Contact us do discuss your requirements. Check our list of available programmes.
Our courses are run in central locations from 9 a.m until 5-5.30 p.m. There are 2 coffee breaks and a lunch break. Lunch is always provided in the venue.
Dress code is smart casual.
All our programmes are taught by senior specialists who have spent many years in their respective sectors, working as senior managers and head of departments, so they understand very well the market and the challenges you are facing.
The experience of our trainers allows us to create very practical programmes, focused on current market trends and challenges. You can be sure that you will gain the knowledge which can be instantly applied in your workplace after the course. You will be analysing real life case studies, take part in group exercises and discussions as well as role plays, whenever applicable.
We want our courses to be as practical and interactive as possible so we limit the number of participants in order to optimise your time with the trainer and allow you to ask questions which are important for you.
In order to understand your requirements and expectations, we will send you a pre-course questionnaire.
You will also receive post-course support so if you have any questions after you left the training, you are welcome to contact us.
There are 2 easy ways to register:
- Go to the course of your choice and click Register Now button to fill the registration page
- Email us to enquiry@eurekafinancial.com
After you register, we will send you registration confirmation and an invoice so you can arrange the payment. Please note that your place is not confirmed until we receive it.
If you register within Early Bird discount period, there’s limited time to arrange the payment in order to be eligible for the discount. You will find all the details on the invoice.
We don’t advise to make any travel and hotel arrangements until you receive full course confirmation from us.
We will send you venue and course details as soon as possible but most likely about 3-4 weeks prior to the course commencement.
You can pay by:
- Making a bank transfer
- Debit/credit card
- Cheque payable to Eureka Financial Ltd. - only within UK
Just mark preferred paying option on the registration form. Whichever form of payment you choose we will always send you an invoice.
If you pay by card, a 2.2% processing fee will be added. We will send you authorisation form so you can give us your card details.
Included in the price of a public course are:
- Course tutorial
- Take away course materials
- Course Certificate
- Lunch on the days of the training as well as drinks and snacks throughout the course
The price doesn’t include accommodation, flights, transfers and any additional costs outside of the training venue.
Yes, we always offer Early Bird discount, so the sooner you register the more savings you can make. We also offer group discounts and if you register for 2 or more programmes at the same time.
If you are a full time student or unemployed, we offer a 25% discount of the full price of the training. Student ID or unemployment status confirmation is required to claim this discount.
If you attend one of our courses you will be entitled to a special discount for a year after the last course you attend with us. Also, if you have attended and recommended us to a friend, both you and your friend will receive a special discount. You will receive more information about it after you attend the course.
See our Customer Loyalty Discounts page for more details.
All our courses based in the UK are subject to the VAT charge of 20%. This fee is irrespective of the country of residence of the delegates.
You can, however, claim the VAT back by contacting UK tax office - HMRC, and filling the relevant form, as long as you comply with the following rules:
For Delegates coming from the EU countries
If you represent a registered business in another EU country, you can use the Refund Scheme to reclaim VAT you pay in the UK as long as all of the following apply:
- You're not registered for VAT in the UK and don't have to, or can't be, registered here
- You don't have a place of business or a residence in the UK
- You don't make any supplies in the UK
You can find some more information here. In order to claim the VAT you have to fill Form 65.
For the Delegates from Non EU countries
If you represent a registered business in a non-EU country, you can use the Refund Scheme to reclaim VAT you pay in the UK as long as all of the following apply:
- You're not registered for VAT in the UK and don't have to, or can't be, registered here
- You don't have a place of business or a residence in the EU
- You can only use the Refund Scheme if your own country operates a similar scheme and makes it available to UK businesses. If your country has its own Refund Scheme but doesn't let UK businesses use it, you can't claim under the UK Refund Scheme.
- You don't make any supplies in the UK
If the following rules apply to you, please fill the 65A form and send it to HMRC.
Webinars
You can cancel your participation up to a month before the course and receive a refund minus 10% of the full course value. Between 2-4 weeks before the course you will be charged 50% cancellation fee and if you cancel less than 2 weeks before the course you can only offer your place to a colleague. Up to 2 weeks before the course you can reregister for another edition for 10% reregistration fee if there is another webinar offered or you can rebook for a course in London by paying the difference in price plus 10% reregistration fee.
Classroom Courses
If there is any official travel restriction or difficulty related to the COVID pandemic around the time of the course we will convert the training into a webinar or offer to attend the next classroom edition at no extra cost.
If you are unable to attend the course, you can either send a replacement at no extra charge or, up to 10 days before the training, you can transfer your booking to another edition within the next 6 months paying administrative fee of 20% of the full course price. For any cancellation requests received between 11 days and 4 weeks from the course we offer 50% refund or reregistration to another edition for 25% of the value of the booking. For any cancellation requests received more than 4 weeks before the course date we will offer a refund less an administration fee of 10% of the full course price.
Cancellations must be made in writing (letter or email) and reach our office four weeks prior to the course date. We regret that only limited refunds can be given after this period as per points above. Non-attendance without any notification will be charged at full rate. Your place on a course is not guaranteed until we receive the payment. All payments must be made in full before the course date.
All our trainers have been working for many years in their respective sectors before they begun to teach so they bring a wealth of practical experience to the classroom.
Most of them used to work for 15 or more years in the financial sector and corporate world, and were holding positions of Directors, VP and Senior Managers. Some of them have published books and have written articles for specialised magazines and newspapers including FT, The Independent, The Times etc. You can find detailed biography of each trainer on the page of the course you want to register for.
Yes, you will receive a Certificate of Attendance at the end of the course you attend.
If you have to apply for a Visa to attend a course in the UK, we will issue a letter to support your application. The letter will be issued only after the payment for the course has been made.
It is delegate’s responsibility to obtain a Visa and failure to do so will not make the participant exempt from the cancellation policy.
Anyone suspected of applying for a training course simply to gain a Visa letter will be reported to their embassy.
We will need the following information to issue an invitation letter:
- Full name as it appears on your passport
- Date of birth
- Passport number
- Passport issue date
- Passport expiry date
