Senior Management Obligations under the SM&CR - 20 May 2021
The ever-increasing focus by the Regulators on the accountability of senior management, particularly when things go wrong, emphasises how important it is for individuals in senior positions to have a clear understanding of what is expected of them. This succinct course is designed to assist Senior Managers to have a full understanding of what they need to do to achieve compliance with the rules under the obligations created by the Senior Managers and Certification Regime (SMCR).
Attendance at this course will provide you with:
- The ability to demonstrate to the Regulator your understanding of the current regulatory approach and the responsibilities placed on senior managers;
- The knowledge you need to achieve and evidence compliance with those responsibilities, including risk identification, assessment and mitigation;
- The potential to identify actions you may need to take to address any gaps in compliance;
- An awareness of the actions the FCA can take if things go wrong.
- Personal engagement with the regime and obligations under the Conduct Rules
- Attesting to Statements of Responsibility and Prescribed Responsibilities
- Staying fit and proper and keeping up to date
- Leading a team and standing up for what’s right
- Managing with skill, care and diligence
- Securing a corporate culture which delivers Conduct Rule compliant behaviour
- The challenges of implementing the certification regime
- Dealing with disciplinary issues and severance
- Understanding what are considered to be “reasonable steps” and the protections they afford
- SMCR in the broader context of corporate governance and the duties of directors
Course aimed at: Senior Managers, including Executive Directors, Non-Executive Directors and holders of required functions; those preparing to assume SMF responsibilities; Risk, Compliance and Internal Audit specialists; Human Resources and Learning and Development specialists.