Simple 3-Step SMCR Training Model

Posted by

Vivek Dodd

on 04 May 2021

Whether you're new to the SMCR or benchmarking existing processes, our training model will help get your compliance training on track.

SMCR 3-Step Training Model

Build, deepen & embed for training success

Our simple 3-step model provides a great foundation for your SMCR and Conduct Rules training strategy. By building, deepening and embedding your training, you'll get better results.


Step 1 - Building SMCR training

Keeping your initial SMCR messages clear, consistent and simple is key as you start to engage with staff. The tone you set from the outset will ensure that staff understand that SMCR compliance everyone's behaviour and conduct, not just those who sit in the most senior, or more accountable, roles.

We think a short video entitled 'Are you aware of SMCR?' will help you engage with your staff at the outset. For Senior Managers, this can be supplemented with an 'Overview of SMCR'. Since they will typically have one-to-one or small group briefings this module can be flexibly used in ‘test out mode’ to enable individuals to take an assessment post briefing.

Step 2 - Deepening SMCR training

What steps are you taking to ensure that your training is relevant and understood?

Your training needs to bring to life:

  • What the Conduct Rules mean to different jobs and functions
  • Case studies that are relevant to your firm
  • What being accountable really means
  • What comprises being Fit & Proper for those in Certified or Senior Manager roles?
  • Duty of Responsibility for Senior Managers and the steps they can personally take to meet their obligations
  • The Conduct Rules and role of a Non-Executive Director under the SMCR

Skillcast provides Conduct Rules training to support all populations – Senior Managers, Certified Persons, Conduct Rules and Non-Executive Directors. More importantly, we have developed learning to meet the needs of specific roles such as Corporate Finance and Global Markets.

Should you choose to tailor the training further we are happy to help. We have deep expertise in helping firms achieve their regulatory learning requirements.

Free SMCR Compliance Crossword

Step 3 - Embedding SMCR training

Don’t assume that because an individual has demonstrated that they can apply the rules that they are doing so in practice!

You will need to re-engage your staff with ongoing training and communications. We don’t mean re-issuing the e-learning periodically, we mean ensuring that what people do in their day to day lives meets the requirements of the SMCR.

Although you may already be doing this, it’s good practice to review your training and identify any gaps to ensure your training is comprehensive and up to date.

Regularly review your SMCR training:

  • Testing - Your performance management/appraisal mechanism should test competence and capability – are areas of weakness fed into training plans?
  • Learn & adapt - The regulator is keen for firms to learn from mistakes and issues. Are systemic weaknesses from Conduct Rule breaches, or near misses, built into future training?
  • Market events – bring to life things that have happened in your own industry including case studies to help staff understand issues better.

At Skillcast, we offer an extensive list of SMCR training modules to help you to address whatever your gap might be. Our training modules can simply be tailored to your business needs very easily.

We can build Learning Paths for populations and also offer support in evaluating the embeddedness of your training plan against a simple maturity model.

SMCR training roadmap

SMCR compliance training is a complex journey. That's why to ensure that your learners reach their destination, you will need a reliable roadmap.

Those in senior leadership positions or responsible for organising training, need to ask two important questions about their SMCR compliance planning:

  • Does it support your culture, values, objectives and drive compliant behaviour?
  • Does it ensure individuals understand and can apply the rules in their role?

If you cannot currently say yes to both questions, we hope that using this training model and our SMCR training roadmap can help ensure you do in the future.

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Want to learn more about SMCR Compliance?

We have created an SMCR roadmap to help you navigate the compliance landscape, supported by a comprehensive library of SMCR Courses and a fully integrated SMCR 360 Compliance Toolkit.

We also have over 100 free compliance training aids, including assessments, best practice guides, checklists, desk aids, eBooks, games, posters, training presentations and even e-learning modules!

Finally, the SkillcastConnect community provides a unique opportunity to network with other compliance professionals in a vendor-free environment, priority access to our free online learning portal and other exclusive benefits.

Free SMCR Implementation Best Practice Guide

FCA regulated firms have an obligation to ensure that all Senior Managers have taken reasonable steps to prevent regulatory breaches in their areas of responsibility.

Our free guide will help you follow best practices when implementing your SMCR programme.

Download your free training aid