The Training Environment For Financial Services

Board Reporting for FCA and Dual Regulated Firms

Outline & Objectives

The Boards of financial institutions are under increasing pressure to respond to difficult questions about how they provide oversight over business models, risk-taking, strategy, long-term business sustainability and now the Consumer Duty.

A key challenge for all firms is to provide the Board with the Management Information needed to address key risks to the business and ensure the decisions made are properly informed, transparent and which demonstrate the Board has taken the "reasonable steps" required by the FCA. Board reports and governance are all key for senior managers to show their compliance with the Senior Conduct Rules.

This practical course provides a safe environment in which to assess your approach to board reporting, explore your strengths and areas for development and practise new techniques to bring about immediate improvement.

Attending will help you:

  • Review the scope of your board reports and MI, avoid information overload or gaps and integrate with the Consumer Duty
  • Understand the criticality of a high-quality risk assessment of the firm
  • Enhance the structure, style and value of your reports to make them more concise, targeted and easier to digest
  • Create Board reports that facilitate better challenge by the Board and help the Board members to meet their duties under the Senior Conduct Rules and demonstrate they have taken "reasonable steps"
  • Better understand and reflect the firm's strategy, Board issues, priorities and decision-making style in your reports
  • Manage differing stakeholder views with balance and clarity
  • Examine good and bad practice in relation to Board Reports
  • Reduce the reporting burden on your senior management colleagues – and yourself

Who will benefit?

This focused course will be of value to anyone responsible for using, producing, compiling or overseeing board packs and reports. This is likely to include Senior Management Team, Company Secretaries, as well as heads of Risk, Compliance and Audit, and individuals who compile reports for the senior management team.

Training Approach

This course will be delivered via a real time slide sharing and live audio visual platform, accessible by desktop computer, laptop, tablet or smartphone. Class size will be limted to ensure a high quality and interactive learning environment.

Course Presenter

Gary Pitts has 30 years of compliance experience in the UK and overseas, including spells as a regulator, international head of compliance in hedge funds and boutique investment banks and as managing partner of a boutique financial services house. A FSA/FCA registered person in Controlled Functions 1, 10 and 11 and SMF 16 and 17 since 2001, he now runs his own governance and regulatory consultancy Tetractys in the UK and Ireland. Gary is a regular trainer and author of technical articles on compliance related topics and sits on the regulatory advisory group of the Journal of Securities Operations and Custody. He brings a combination of compliance and commercial experience, in terms of both practical implementation and Board level oversight, to the training he delivers.

Course Programme

Session Aim Content
The Role of the Board The role of the Board is to assess the overall direction and strategy of the business. The Board also assures that an organisation is accountable as required by any laws and regulations. The aim of this session is to explore the various challenges that Boards face and the challenges in making decisions.
  • The challenges facing Boards: legal and regulatory, risk and strategy, stakeholders and sustainability and communication
  • The importance of defining "outcomes"
  • Impact of the the Consumer Duty and Conduct Risk Framework
  • Key roles and responsibilities of your Board
  • Good and bad practices of Board Reporting and identifying a ‘safe’ approach to supporting the Board with their duties
Building your Board Pack The Board Pack, the critical source of information, is often criticised as being not being fit for purpose in providing the necessary information to ensure the discussion and decision-making at board meetings are as productive and effective as possible. This session seeks to establish a framework that will support better decision making for the Board.
  • The six key questions you need to ask
  • Principles for the active reporting of financial and non-financial information to Boards
  • Analysing the decision-making style and culture of the organisation and why this is relevant to the presentation of information to the Board
  • Creating data that flags issues clearly for the Board
Ensuring Boardroom Effectivess Ensuring the effectiveness of communication with a broad range of stakeholders can be quite a challenge. There are various forms of communication, written and face-to-face and presenting to the Board. This session aims to support delegates with different types of communication.
  • Board issues and priorities, such as succession, financial, expansion, operational, regulatory
  • Clarifying the content of reports: format, timing and amount of information provided
  • Engaging stakeholders and presenting data on various subjects
  • Helping Board members to meet their responsibilities under the Senior Conduct Rules

This course can be delivered in-house at a time and location to suit your business and tailored to suit your people and organisation. We can also create bespoke training when something very specific is needed.Please contact us to discuss your requirements in more detail and at no obligation.

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