Root Cause Identification Process Manual & Template

Product Overview

Bolster your organisation's adherence to the FCA's Consumer Duty with a thorough Root Cause Identification Process Manual & Template. This essential manual and template offer a structured, customisable methodology for investigating the underlying causes of poor customer outcomes, enabling effective remediation and prevention of recurrence to ensure sustained positive results for retail customers. Aligned with the most recent regulatory updates as of 07 August 2025, including FS25/2 simplifications and the Q1 2025 board report review, this resource assists financial firms in conducting systematic analyses, mitigating harm, and promoting equitable, resilient practices through evidence-based insights.

Provided as a Microsoft Word document (DOCX), this toolkit encompasses detailed guidance, forms, checklists, and examples. Perfect for compliance officers, analysts, and senior managers, it supports collaborative investigations whilst integrating with broader Duty monitoring for proactive, preventive strategies.

Key Features

• Structured Framework: Detailed coverage across 6 chapters, including introduction, regulatory background, key principles (e.g., systematic analysis, proportionality, vulnerability mapping), RCA processes, remediation planning, and audit/documentation.

• Regulatory Alignment: Incorporates PRIN 2A.9, FG22/5 (Chapter 11), FS25/2 (February 2025 simplifications for low-risk issues), Q1 2025 multi-firm board report review (highlighting enhancements through systematic RCA), and December 2024 thematic review on board-level MI.

• Customisable Templates: Includes RCA Form and Checklist (with blank and example versions) in Appendix C and D for documenting investigations, cause mapping, and actions.

• Appendices for Quick Reference: Glossary of terms (Appendix A), referenced policies (Appendix B), FCA resources (Appendix E), and more to aid execution and compliance.

• Practical Examples: Hypothetical scenarios (e.g., low-value equity issues) with completed templates and rationale notes for practical application.

• Version Control & Usage Guide: Embedded instructions for customisation to match your operations, with focus on scalability, evidence-based approaches, and retention (e.g., 7 years).

• 2025 Insights Integrated: Emphasises vulnerability-inclusive RCA, preventive orientation, data-driven tools (e.g., 5 Whys, Fishbone Diagrams), and noted improvements like 17-23% in harm reduction from FCA reviews.

Benefits

• Secure Compliance & Prevent Recurrence: Satisfy FCA requirements for root cause analysis, with tools for documentation, audits, and remediations to address issues at source and evade sanctions.

• Improve Customer Outcomes: Uncover systemic causes to reduce inequities (e.g., 17-23% harm reductions per 2025 reviews) and support vulnerable groups through segmented, collaborative investigations.

• Enhance Efficiency: Apply scalable processes and simplifications for low-risk vs. high-impact RCA, saving time with ready-to-use forms and checklists.

• Promote Proactivity & Integration: Link with other Duty elements (e.g., outcome monitoring, fair value assessments) for a holistic system, facilitating timely fixes and adaptive responses to feedback.

• Build Accountability: Aligns with SMCR by outlining roles for investigators, managers, and teams, with clear ties to cross-cutting obligations for ethical, forward-looking resolutions.

• Yield Actionable Insights: Utilise qualitative/quantitative techniques (e.g., Pareto Analysis) and MI integration for measurable refinements and strategic enhancements.

Who It's For

• FCA-regulated financial services firms, such as banks, insurers, lenders, and investment providers dealing with UK retail customer outcomes.

• Roles including compliance/risk officers, data analysts, remediation teams, senior managers (SMFs), and third-party investigators handling issue resolution.

• Organisations conducting RCA for new, existing, open, or closed products/services, particularly in high-harm or vulnerability contexts.

• Ideal for firms focusing on preventive strategies, proportionality, and integration with Duty outcomes like Products/Services or Consumer Support.

What's Included

• 1 x Customisable Microsoft Word Document (DOCX): Full manual with chapters, appendices, guidance, templates, and examples.

• Embedded Guidance: Version control, customisation tips, and usage instructions (remove before finalising).

• Digital Delivery: Instant download upon purchase for immediate adaptation and use.

Licence and Usage Terms

This template is licensed for internal use within your purchasing organisation only. Redistribution, resale, or transfer without prior written consent is prohibited. For full terms, refer to the included Instructions document.

Disclaimer

This manual and template are provided as a supportive tool for regulatory compliance and do not constitute legal or professional advice. Your organisation is responsible for ensuring alignment with FCA regulations, industry standards, and specific legal obligations. Customise to fit your business model and seek professional advice if needed. No liability is assumed for any loss, damage, or regulatory action arising from use.

System Requirements

• Microsoft Word or compatible software (e.g., Google Docs) for editing.

• No additional software required.

Ready to uncover root causes and drive lasting improvements under the Consumer Duty? Purchase now and adapt this vital framework to safeguard your customers and fortify your business. For bundling with related templates (e.g., Customer Outcome Monitoring Framework or Vulnerable Customers Policy), explore our compliance toolkit options.