The Training Environment For Financial Services

Fund Governance and Oversight under the FCA

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Outline & Objectives

When the FCA conducted its Thematic Review of Outsourcing in the Asset Management Industry, the regulator was concerned that only a few managers were able to demonstrate high standards of oversight across their outsourced activities.

This practical one day workshop is intended to provide staff with the appropriate knowledge and skills to provide effective fund oversight. The programme will cover all  aspects of fund management and operations with particular emphasis on high risk areas in fund accounting and transfer agency. Some previous knowledge of funds is assumed*.

It will include case studies of pricing errorsinvestment & borrowing power breaches, rectification programmes and failures of fund governance together with examples of oversight questionnaires and reports. The particular concerns of the FCA when reviewing fund managers will also be examined

Making extensive use of CASE STUDIES and practical EXAMPLES, the course will help fund professionals:

  1. Understand what the FCA expects from fund oversight teams
  2. Prevent and deal with common errors and breaches, including Pricing and Investment Limits and Borrowing Powers
  3. Review your SLAs, KRIs and KPIs: are they monitoring the right metrics?
  4. Establish the controls needed to meet FCA and Depositary expectations
  5. Ensure and evidence adequate oversight of outsourced functions
  6. Learn the lessons from recent failures in fund governanceand FCA monitoring and reviews
  7. Benchmark your governance and oversight arrangementsand procedures against developing best practice

Who will benefit?

This event will be of value to anyone with fund oversight responsibilities, including Operations and First Line of Defence, Risk Managers, Compliance Monitoring Teams and Internal Audit at Fund Managers or TPAs.

Course Agenda

Topics covered may include but are not limited to:

Fund Governance and Oversight

Developing Effective Control Environments

Pricing Errors

Risk Management

Roles and Expectations of the Depositary

Oversight of Third Parties

The FCA Review of Outsourcing Oversight


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