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A Framework for Managing SMCR
November 26, 2019 @ 9:00 am - 10:00 am PST
The Senior Manager and Certification Regime changes the urgency and approach for organizational compliance. Those managing specific functions within FCA regulated firms now are held individually accountable for their actions that deviate from SMCR’s goal of reducing harm and improving integrity. SMCR forces the individuals in banks and other financial institutions to be responsible for their actions, conduct and competence with the hope that consumers can trust that their financial needs are taken care of by well trained, well-meaning employees that execute well on their mission. SMCR challenges financial institutions and managers with “reasonable steps” that WILL be audited and reviewed if unexpected outcomes occur.
In this live webinar, Lockpath’s Sam Abadir will share how organizations and individuals can manage and operationalize their known and unknown reasonable steps – helping keep the financial institution, the manager, and the customer protected. In this webinar we will cover:
- Basics of SMCR
- Challenges posed to FCA regulated firms
- Approaches to making sure responsibility gaps and overlaps in responsibilities are eliminated
- Understanding when things can be better