Enhance governance, accountability and culture through SM&CR compliance
The Senior Managers & Certification Regime (SM&CR) was introduced to strengthen culture and governance in firms through promoting greater individual accountability and enhanced standards of personal conduct. SM&CR is central to the culture and conduct agenda of the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA).
Recently, firms have experienced changes in daily priorities, operational changes including remote working, altered management control and Board oversight, deferred risk governance and internal control processes and activities.
Financial services regulators regularly remind firms about ongoing SM&CR obligations and their expectations of firms and Senior Managers Regime. More needs to be done to further embed SM&CR within organisations and mindsets.
Given the increased focus on individual accountability, Senior Managers must demonstrably exercise proper oversight and meet regulatory expectations to manage their own personal regulatory risk. Our regulatory compliance specialists provide training and help firms assess their SM&CR compliance to further strengthen and embed their SM&CR framework.
We support solo-regulated and dual-regulated firms’ need to ensure compliance with the requirements of the Senior Managers and Certification Regime in the following areas:
SM&CR training is an opportunity for firms to embed the right culture. We develop one-off or ongoing SM&CR and Conduct Rules training programmes tailored to the team’s requirements, delivered by regulatory compliance specialists.
Our regulatory compliance consultants at Xcina will collaborate with firms to deliver SM&CR advice and achieve the following:
Clients benefit from our extensive subject matter expertise as well as leading practices gained from assisting organisations across financial services sectors with their SM&CR requirements.
Our SM&CR compliance specialists have many years’ practical experience on the subject across a range of firm types and are at the forefront of the latest developments, regularly conducting industry surveys, providing thought leadership and speaking at industry conferences on the topic. Our team includes a blend of former Senior Managers, Heads of Compliance and Regulators. They provide pragmatic value-adding solutions tailored to your specific context, not generic impractical recommendations.
We share with you our experience and provide knowledge transfer as required including training so that your team is equipped to use and maintain your SM&CR framework independently going forward.
We provide a cost-effective solution enabling you to access to subject matter expertise and advice upon request.
Chris Sloan, Director ClucasGray Investment Management UK Limited
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