Are you up to date with the new Senior Manager & Certification Regime ?
What do I need to know?
How can we help?
The Senior Manager and Certification Regime was launched last year and came fully into force on 7th March 2017 in the banking sector. There is also an equivalent regime for large Insurers and the FCA has now announced plans for the extension of the regime across the remainder of financial services from 2018.
The regime has been instigated to focus on increasing accountability throughout banking, improving organisational culture and professionalism across the sector. The regime covers a range of senior management and other important roles affecting customers. Employers are required to map out responsibilities, Certify role holders and regularly review their performance.
In addition, new Conduct Rules affect all employees involved in regulated activities and the FCA requires that everyone affected should be trained in what these mean for their jobs. The Banking Standards Board recently published good practice guidance to help firms implement the new Regime in the most efficient, profitable and appropriate ways for staff and customers.
They have compiled two articles – one is “a Statement of Good Practice on the assessment of fitness and propriety within the Certification Regime” and the other “more detailed Supporting Guidance on implementation” (BSB 2017).
To find out more and read the full good practice guidance >here or check out Enterprise Learning’s factsheet designed to help firms implement the regime effectively.
Enterprise Learning can provide organisations with the right tools to implement the new Regime. We have teamed up with Carbon Law Partners and Worksmart to deliver a full one-stop shop for SMCR solutions.
We can provide tailored education, training and assessment to ensure your people understand their responsibilities and how they apply to their jobs so that you can demonstrate compliance to the FCA and PRA. We can provide training packages covering areas such as Directors and senior managers, sales, customer service, complaints and customer relations, team leaders, compliance/risk specialists, HR and training professionals, IT and operations.
We can also review your existing processes and frameworks to help identify quick wins and ways in which the new requirements can be integrated so that you do not need to reinvent the wheel or commit unnecessary spend.
If you would like information on how we can help you implement the regime or for us to run our complementary readiness review workshop, don’t hesitate to complete the form by clicking on the link below and we will be in touch to discuss with you further.
Enterprise Learning provides a range of services to help regulated firms within the financial sector including:
Regulated Sales, Operations and Business Processes – We specialise in financial services and can implement changes that make a difference to your customers and really embed them to deliver great customer outcomes.
Risk and Regulatory Consulting – We bring very experienced risk and regulatory consultants with a practical understanding of how to satisfy the regulator and create great customer outcomes.
People and Culture – Your people need to buy into change and engage with new approaches and processes. With Enterprise Learning, they will be trained and assessed to ensure they know what you’re changing and why, showing them how they fit into the new world.
Rectification and Redress Services – We specialise in helping regulated organisations carry out Complex Rectification Programmes to review historic cases and implement redress strategies where needed.
Interim Resourcing – Our independent specialists have a unique blend of skills that combine to bring you the best results possible. We source people who will make a difference to your business