Worksmart Blog

The 5 reasons your senior manager will give you for doing nothing and how to overcome them

Posted by Carla Monson on December 10, 2019

For solo-regulated firms, the SM&CR implementation date has arrived.  We’re proud to have successfully prepared some of the UK’s best known financial brands for this impending regime.  What we have also discovered is that surprisingly, many firms are still not ready and there’s a surprising reason as to why. 

Read More

Topics: SM&CR

Managing SM&CR in Recognise

Posted by Peter Griffiths on November 21, 2019

Part of the City of London Group (COLG), Recognise was formed to provide financial services to the UK SME sector and the retail and business deposits market. Recognise will target an under-served but growing business customer population seeking greater human contact, better speeds of response and execution, flexibility of structuring and continuity of management.

Whilst still in the process of gaining a banking licence from the regulator, Recognise are confident of being granted one. With that in mind, the exec team have been actively planning operational processes, including the implementation of SM&CR.

Read More

Topics: SM&CR

The Do's & Don'ts of Delegation

Posted by Julie Pardy on October 28, 2019

CONCON 4.2 SC1: "You must take reasonable steps to ensure that the business of the firm for which you are responsible is controlled effectively"

"You can delegate authority but you can not delegate responsibility"

Former U.S. Senator Byron Dorgan

Read More

Topics: SM&CR

Interesting survey results on the industry’s readiness for SM&CR...

Posted by Carla Monson on October 3, 2019

We ran our first ever webinar on 30th September and this is what we learnt.

The webinar, ‘SM&CR the final countdown – 50 working days to go’, was co-hosted with TISA and focused on the major outstanding actions that firms should be focusing on ahead of ‘Day One’ on December 9th

Read More

Topics: SM&CR

Employee Competence (or is that Knowledge & Competence or even Training & Competence?)

Posted by Julie Pardy on September 23, 2019

KNOWLEDGE – “Facts, information and skills acquired through experience or education.  The theoretical or practical understanding of a subject”

COMPETENCE - “The ability to do something successfully or efficiently”

Read More

Topics: SM&CR

Rising to the challenge of the Certification Regime

Posted by Peter Griffiths on September 10, 2019

‘Final call for SM&CR’ – Are you sure your preparations are taking you in the right direction?

Read “Rising to the challenge of the Certification Regime”, by Julie Pardy to help ensure your SM&CR journey ends up at the right destination!

Read More

Topics: SM&CR

FCA's SMCR Stocktake Report

Posted by Peter Griffiths on August 27, 2019

45 individuals interviewed across 15 Banking institutions

In what has been described by the FCA as an SM&CR “Stocktaking Report” in the Banking Sector, the most recent FCA publication gives us an insight into what they found across the sector.

Read More

Topics: SM&CR

Is your Certification Regime all planned out? - Part #2

Posted by Peter Griffiths on August 20, 2019

It is always interesting to learn from those that have gone before. In 2015, when planning for the introduction of new Senior Managers Regime (SM&CR), most banks at the time focused their efforts almost entirely on their plans for the Senior Manager Regime (SMR) aspect and tackled the challenges of Certification separately. 

Read More

Topics: SM&CR

Is your Certification Regime all planned out? - Part #1

Posted by Peter Griffiths on August 12, 2019

It is always interesting to learn from those that have gone before. In 2015, when planning for the introduction of new Senior Managers Regime (SM&CR), most banks at the time focused their efforts almost entirely on their plans for the Senior Manager Regime (SMR) aspect and tackled the challenges of Certification separately. 

Read More

Topics: SM&CR

How Fit For Purpose Are Your T&C Arrangements? (Part 3) | Worksmart

Posted by Julie Pardy on April 3, 2019

Appropriate and effective competence frameworks have been a regulatory requirement in Financial Services since the early 1990’s. The concept of T&C was introduced back in the early 90’s by LAUTRO and then refined by the PIA and FSA over the late 1990’s and 2000’s. More recently however, T&C has taken a bit of back seat to more recent regulation, such as MIFID II Knowledge and Competence requirements, the Insurance Distribution Directive and the Senior Managers & Certification Regime. However, these newer regimes all have the same underlying theme, and that is to ensure that organisations have structured and effective processes so that employees have the knowledge and competence necessary for them to fulfil their roles effectively. Therefore, whilst not necessarily grabbing the headlines, the concept of structured and effective T&C regimes remain at the forefront of our regulator’s approach to managing employee competence.

This series of three blogs is designed to help you review the fitness of your T&C or wider competence management arrangements. We aim to challenge you to consider whether your current approach is fit for purpose.

Read More

Topics: SM&CR

Five key questions you need to answer for yourself in readiness for the SM&CR regulation:

  • Do you understand the full implications of the new regime?
  • Have you considered the impact of the regime on your business and your staff?
  • Do you understand the impacts of embedding the regime into business as usual?
  • Does your organisation appreciate the value of future proofing your systems and processes?
  • Are  you confident in your existing systems and processes to deliver SM&CR compliance?

Worksmart have a knowledgeable and experienced team, call and speak to the experts by clicking here:

CLICK HERE TO GET IN CONTACT OR CALL 01908 613613

OR Click here to book a free demo of our award winning SM&CR solution:

CLICK HERE TO BOOK YOUR SM&CR SOLUTION DEMO

Want more blogs?... Subscribe Here!

Recent Posts

Topic by Post