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    SMCR 360® COMPLIANCE SOLUTION

    How do you manage SM&CR compliance?

    The FCA’s Senior Managers and Certification Regime (SM&CR) represents a paradigm shift in regulatory compliance for the financial services sector in the UK. In response to this change, regulated firms need to train their staff and overhaul how they track staff compliance.

    "SM&CR is a catalyst for change - an opportunity to establish healthy cultures and effective governance in firms by encouraging greater individual accountability and setting a new standard of personal conduct."

    Financial Conduct Authority, September 2019

    It takes dozens of checks across your entire population of senior managers and certified persons to conduct SM&CR. This is a daunting task that can consume an inordinate amount of management time.

    This is why we created the SMCR 360® RegTech solution, a suite of compliance tools for streamlining your processes, automating your chase-ups that help you save time and effort.

     

    Introducing the SMCR 360® suite of integrated compliance tools

    SMCR 360 is a technology-based compliance solution that helps firms implement effective compliance and risk measures to deliver on their obligations under the Senior Managers and Certification Regime.

    Our comprehensive SM&CR compliance solution draws on information from multiple sources to provide the complete profiles that you need for confidently submitting your senior managers for approval by the FCA, certifying your material risk takers and reporting overall compliance to regulators and auditors.

    It conducts dozens of checks every day and alerts you to any overdue requirements and forthcoming tasks that you, or your senior managers and certified persons, need to attend to.

    SMCR-360-Infographic-1199-1022

    Skillcast's SM&CR compliance solution delivers:

    • Streamlined approval of senior managers and annual certification of material risk takers
    • Automated record keeping and chase-ups to save management time
    • Identification of all upcoming SM&CR-related tasks and potential compliance gaps
    • Readiness for audits, regulatory action and requests for regulatory references
    • Enforced consistency of record keeping throughout your firm
    • Improved accountability and management oversight

    Download a brochure

    Senior manager register

    • Assign Senior Management Functions (SMFs)
    • Assign Prescribed Responsibilities (PRs) and other responsibilities as appropriate
    • Maintain up-to-date Statements of Responsibility (SoR) and handover notes
    • Generate Responsibilities Maps
    • Access comprehensive individual profiles including records of training, attestations, FPQ, CMQ and breaches
    • Keep a comprehensive log of all assignments and changes
    • Generate regulatory references
    • Create alerts for upcoming tasks and potential compliance gaps

     

    Certified persons register

    • Conduct fit and proper assessment and certification
    • Keep a comprehensive log of all assignments and changes
    • Access comprehensive individual profiles, including all records and certificates
    • Create alerts for upcoming tasks and potential compliance gaps
    • Create alerts for annual re-certification
    • Generate regulatory references

     

    Gifts and hospitality register

    • Record gifts and hospitality that are offered and received
    • Implement policy thresholds for automatic approval

     

    Conduct rule breach register

    • Record and report conduct rule breaches
    • Record disciplinary actions

     

     

    Offline training register

    • Record formal training sessions as well as informal advisory sessions
    • Automate dual confirmations to provide robust evidence
    • Record CPD points

    Policy hub

    • Maintain all compliance polices including those related to SM&CR
    • Require attestation of policies
    • Track completions and send automated chase-ups

     

    Fit & proper questionnaire

    • Collect all the information required by the FCA and more
    • Track completions and send automated chase-ups
    • Create alerts for all possible non-compliance issues ahead of assessment

     

    Conflicts management questionnaire 

    • Customise to your business activities
    • Track completions and send automated chase-ups
    • Create alerts for any conflicts of interest that need attention

     

    Skillcast Learning Management System training

    • Pre-requisite for SMCR 360
    • Deliver all compliance e-learning, including Conduct Rules
    • Track completions and send automated chase-ups
    • Record CPD points