SMCR Software Solution
The FCA’s Senior Managers and Certification Regime (SMCR) represents a paradigm shift in regulatory compliance for the financial services sector in the UK.
Compliance with SMCR requires dozens of checks across every senior manager and certified person in your organisation. It's a daunting and laborious task that drains management time.
SMCR 360® is a suite of compliance tools that help you centralise, integrate and automate your SMCR processes to improve accuracy, reduce risk and save you time.
Streamline SMCR compliance
Our technology-based SMCR compliance solution helps firms to implement effective compliance and risk measures and deliver on their obligations under the SMCR.
By drawing on information from multiple sources SMCR 360 creates and manages complete profiles.
It conducts dozens of checks every day and then alerts you to overdue requirements and upcoming tasks that you, or your senior managers and certified persons, need to attend to.
This means that you can confidently submit your senior managers for FCA approval, certify your material risk takers plus report overall compliance to regulators and auditors.
Automate key processes
- Streamline approvals of senior managers and annual certification of material risk-takers
- Automate record-keeping and chase-ups to save time
- Enforce record-keeping consistency firm-wide
- Improve accountability and management oversight
- Identify upcoming SMCR tasks and potential compliance gaps
- Become audit-ready for regulatory and reference requests
SMCR 360® toolkit applications
Senior Managers Register
- Assign Senior Management Functions (SMFs)
- Assign Prescribed Responsibilities (PRs) & other responsibilities as appropriate
- Maintain up-to-date Statements of Responsibility (SoR) & handover notes
- Generate Responsibilities Maps
- Access comprehensive individual profiles including records of training, attestations, FPQ, COI & breaches
- Keep a comprehensive log of all assignments and changes
- Generate regulatory references
- Create alerts for upcoming tasks & 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
Learning Management System
- Pre-requisite for SMCR 360
- Deliver all compliance e-learning, including Conduct Rules
- Track completions and send automated chase-ups
- Priced separately
Offline Training Register
- Record formal training sessions as well as informal advisory sessions
- Automate dual confirmations to provide robust evidence
- Record CPD points
Gifts & Hospitality Register
- Record gifts and hospitality that are offered and received
- Implement policy thresholds for automatic approval
Conduct Rule Breach Register
- Record & report conduct rule breaches
- Record disciplinary actions
Fit & Proper Questionnaire
- Collect all the information required by the FCA & more
- Track completions and send automated chase-ups
- Create alerts for all possible non-compliance issues ahead of an assessment
Conflict of Interest
- Customise to your business activities
- Track completions and send automated chase-ups
- Create alerts for any conflicts of interest that need attention
Policy Hub
- Maintain all compliance policies including those related to SMCR
- Require attestation of policies
- Track completions & send automated chase-ups
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