SMCR Overview Training Course

Our SMCR Overview training course will help your employees understand the key steps needed to comply with the regime. That includes:

Preparing a Statement of Responsibilities
Pre-approval of Senior Managers by the regulators
Reasonable steps needed to stop regulatory breaches
Identification of all Certified Persons
Fit and proper assessment of all Certified Persons
Ensuring Senior Managers understand the duty of responsibility

About this Course

Available as part of our SMCR Course Library.

Learning objectives

This course will help your employees to:

Understand the key elements of the SM&CR and how they apply to you
Be aware of the Senior Management Functions and the allocation of responsibilities in our Firm
Understand how fitness and propriety are assessed, and comply with the requirements
Understand and comply with the Conduct Rules
Understand and comply with the Certification Regime

Latest course updates

Major revision and update of course
Adapted to incorporate the FCA's Consumer Duty
Addition of a sixth Individual Conduct Rule
Versions of this course are available that are tailored for Dual-regulated firms (Banking, Insurance) and Solo-regulated firms (Core, Enhanced, Limited scope)

Course Outline

Introduction

What is SMCR?

- The 3 key elements
- Who does the Senior Managers Regime apply to?
- SMFs for insurers
- SMFs for banks
- Independence requirements & banned combinations of SMFs

What are Prescribed Responsibilities?

- Allocating responsibilities - process flow

Hand-offs

Allocation of Responsibilities

NEDs & the Chairman

-You make the call: Is the Chair or the Senior Manager responsible?

What can Senior Managers delegate?

Duty of Responsibility

- Reasonable steps
- What can Senior Managers do to protect themselves?
- Preventive measures

Assessing Fitness & Propriety

- Honesty, integrity & reputation
- Competence & capability
- Financial soundness

The Certification Regime

Conduct Rules

- Individual Conduct Rules
- Senior Manager Conduct Rules
- Compliance with Conduct Rules
- Senior Manager compliance

Summary

Affirmation

Course Specifications

Structure

Approximately 30-minute long e-learning course followed by a 10-question assessment.

Audience

Suitable for all staff - examples and interactivities designed for staff at all levels. No previous knowledge or experience is required.

Design

SHARD-compliant, responsive display on all devices, accessibility on screen readers, visual design controlled via your client style sheet.

Compatibility

All Windows, Mac OSX, iOS, Android (Flash-free for mobile compatibility). AICC and SCORM 1.2-compliant, suitable for both hosted and deployed SCORM or AICC.