What are my duties as a senior manager in 2021?

Wednesday 31st March, 2021

Delivered Virtually, Online Workshop

Attendee Fees: Non-members: £450 (VAT Exempt), Members: £225 (VAT Exempt)

Time: 09:30 - 13:00

Duration: 4 hours

This event has passed.

COURSE DETAILS

Duration: 3.5 hours
Timings: 9.30-13.00 (a break will be provided)

The Senior Managers regime and FCA’s increasing focus on individuals has raised the personal stakes for senior managers as well as the advisers (internal and external) on whom they rely to fulfil their responsibilities. The FCA is certainly using its enforcement powers more aggressively (even if these do not always lead to discipline) and the conduct of individual accountable senior managers is at the heart of the effort to improve conduct in financial services.

This course aims to help senior managers and their advisers to understand what is expected of them, the key role advisers to senior managers need to play in ensuring that “all reasonable steps” are taken to prevent breaches more broadly and to implement the SMCR effectively.

Course overview

Understand the obligations of the regulatory requirements under the SMCR
Understand the responsibilities of a senior manager vis-à-vis both the SMCR and broader commercial duties
Managing the process of delegating implementation of key obligations
Showing how the senior manager has taken “all reasonable steps”
The importance of demonstrating ongoing engagement with the FCA’s evolving Guidance
Identify how your internal and external advisers can best support senior managers in implementing a good governance/SMCR framework
Questions senior managers should ask of their advisers and delegates

Agenda

Introduction
The key SYSC and COCON requirements
What are FCA expectations?
How does that translate? – responsibilities under the SMCR
How does that translate? – broader responsibilities a senior manager of a regulated firm
How do you take “reasonable steps” to ensure compliance?
Delegating responsibilities and tasks – how do you show delegation to “an appropriate person” with proper oversight?
What should your advisers (HR/Legal/Compliance) be doing to help
Documenting your processes.

Trainer

The session will be delivered by Gary Pitts.

Gary has been a compliance professional for over 25 years, having started his career at Lautro and the Personal Investment Authority and including spells at Threadneedle, Henderson (managing the N2 transition), Head of Compliance at hedge fund Brevan Howard and Head of Compliance Europe, Mid-East, Africa and Japan for a boutique investment bank. Since 2013 he has run his own regulatory and training consultancy, Tetractys, with operations in the UK and Ireland. Tetractys focuses the importance of governance as driver of good compliance outcomes. He delivers open and bespoke training course and external Board effectiveness assessments. Gary has a particular interest in cyber security governance and the impact of digitisation on compliance and business processes.

Gary has held controlled/senior manager functions since 2001, has been a director of regulated companies in the UK and South Africa and is also has been a regulated person in Ireland. Gary is a Fellow of the Chartered Management Institute and holds an MBA from the Open University Business School and Masters degrees from Oxford and London Universities.