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Challenge

The Senior Managers and Certification Regime (SMCR) presents some unique challenges to any financial services organisation, with the Financial Conduct Authority (FCA) seeking to ensure, through its upcoming regulation, that organisations within the sector are focused on protecting consumers’ interests. Some key questions to consider include:

How do you know to what level you need to comply with the regime?
How do you embed a SMCR workflow into your governance frameworks and HR processes?
How do you record and ensure that staff, at all levels, clearly understand where responsibility lies?
How can you demonstrate to the FCA that your staff and hiring processes, are aligned with the SMCR?

Solution

SureCloud’s Senior Managers and Certification Regime (SMCR) software enables you to easily embed best practice, process, and workflow into your wider Governance frameworks as well as your HR processes. The SMCR solution helps you to understand how the regime may impact your business and how it might apply to your organisation: are you Limited Scope, Core Scope or Enhanced, the answer to which drives all downstream activity?

Once your scope has been established, SureCloud’s SMCR solution helps to build a centralised register of your roles and responsibilities, the employees that hold them, and how these roles map to functions defined within the regime. The software can then be embedded into your HR and Governance frameworks to ensure individuals are appropriately vetted and certified depending on their responsibilities, with much of the workflow being fully automated.

Finally, SureCloud helps to consolidate and report on your SMCR overall status to demonstrate compliance, via powerful dashboards.

Key Benefits of SureCloud’s SMCR solution:

  • Understand how the regime applies to your organisation
  • Create a centralised register of your roles and responsibilities, employees and how they map to functions defined by the regime
  • Embed the processes of assessment, certification, and authorisation into your existing workflow
  • Clearly and efficiently demonstrate compliance to the regulatory body (FCA)

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Resources for Senior Managers & Certification Regime Management (SMCR)

  • Blog

Key Facts about Senior Managers & Certification Regime (SMCR)

The Senior Managers & Certification Regime (SMCR) aims to protect consumers by empowering firms and regulators …

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  • Webcast

Upcoming Webinar: Are you ready for SMCR?

SureCloud’s Product Director, Alex Brown, will be co-hosting the webinar ‘Are you ready for SMCR’ on …

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  • Conference/Trade Show

Extension of the Senior Managers & Certification Regime 2019

22 May I The Bloomsbury Hotel I London, UK SureCloud will be exhibiting at the Extension …

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