theme 3 Sector Thought Leadership

It will mean contuning to help members navigate the introduction of new regulations, such as the Financial Conduct Authority’s Consumer Duty. In addition, we will ensure we are highly regarded among policy makers internationally for the expertise and professionalism the Institute possesses and demonstrates through its work and the actions we and our members take. So, we will be proactive in every conceivable way to influence policy formation and thinking on any matter that affects our mission. But it will also mean ensuring our members fulfil their obligations to us and the public. For example, we will opine on matters related to increasing consumer empowerment, securing the highest degrees of professional competence among our members, and ensuring corporate members are effectively and equitably mitigating consumer risk.

We will focus our activity on three initiatives over the coming year.

Three activities for 2023

1 We will better promote the rich data we already collect in respect of the public perceptions of trust in our professions and the value of Chartered status, so that it is widely shared, understood and utilised. Public trust is central to our work and it is imperative that we create broad engagement with these data so we generate a virtuous cycle of collective interest across and between the public and our members.

2

We will ensure our members remain leaders among their peers in relation to professionalism and standards through the identification of need and continuing evolution of high-quality CPD. We will supplement our focus through the production and dissemination of relevant Good Practice and Companion Guides to our Code of Ethics. New Guide topics this year will include Environment and Social Governance, sometimes known as Green Finance, and ensuring ethical behaviour in relation to the application of AI.

3We will conduct more original research and instil an innate curiosity among our colleagues as part of an organisational endeavour that will enable us to better answer important sectoral questions and speak with authority on a wider range of matters. We will seek deep engagement with our members in relation to many of the topics listed earlier in this section and others that could deliver real insight and drive positive outcomes for consumers.

To facilitate these ends we will reaffirm our relationships with regulators, government and shadow ministers, government departments and parliamentary groups, and other leading sector participants in every country in which we operate, so that channels for discussion are open and fluid. This will include ensuring we have appropriate subject matter expertise and communicators in our organisation and we will draw more deeply on our members, who will often be first to identify new challenges that need to be addressed. We will also develop further the relationships we hold with other professional bodies, networks and media outlets to harness collective thinking and meet common goals and advance positions.

The Institute already has at its disposal broad means of communicating with members and the wider public. Nevertheless, we will develop other innovative approaches to communication so that we can most effectively provoke discussion, seek input and disseminate answers to important questions. This will include trialling a competition for sixth-form or university students to engage them with matters affecting our professions and interest them in joining our sectors.

To achieve our goals, we will make greater use of member surveys, infographics and video content. Overall, we will place greater emphasis on evaluating the impact of our activity over the course of this Plan than in previous years. And, as we introduce new approaches, we will consider the need to rationalise other outputs and channels that do not help us to achieve our goals as effectively.