The Training Environment For Financial Services

Your Responsibilities as a Senior Manager

22 Nov 2019, London

13:45pm to 5:00pm

Outline & Objectives

Ever since assuming their powers in 2013, the PRA and FCA have clearly signalled, and acted upon, their intention to subject senior management to a more intense and intrusive level of scrutiny. They introduced the new Senior Manager & Certification Regime for some types of financial institution initially and have now extended a version of it across all regulated firms.

While implementation of the new regime may be complex, the consequences of failing to comply with the enhanced requirements are likely to be damaging for the approved individual and highly disruptive for the organisation.

Accordingly, this focused event is specifically designed to help Senior Managers and Approved Persons holding Significant Influence Functions:

  • Make sure you are fully aware of your regulatory obligations, now and under the new Senior Manager Regime
  • Understand regulatory priorities and expectations, especially in key areas such as governance, risk management, culture and conduct risk
  • Consider how to maintain and demonstrate ongoing competence
  • Highlight and avoid common compliance pitfalls and problem areas
  • Know what to expect from regulatory interviews and visits

Who will benefit?

This event will be of value to individuals falling under the scope of the Approved Person or Senior Manager regimes or about to become so. It will also be of interest to those responsible for managing or supporting SIFs and Senior Managers. This programme is particularly useful ahead of a regulatory visit or as part of the induction for senior managers. (We offer an alternative course dealing specifically with the Senior Insurance Managers Regime: please contact us for further information.)

Training Approach

This course will lecture style presentations with practical examples and exercises. Delegate numbers will be limited to ensure a high-quality learning environment combine.




Course Leader

Gary Pitts has over 25 years of compliance experience, including spells as regulator and working in leading asset management, investment banking and hedge fund organisations. He is a former director of Cayman and Luxembourg domiciled hedge funds, as well as regulated companies in the UK and South Africa and has been an FSA/FCA registered person in Controlled Functions 10 and/or 11 since 2001 and now runs his own regulatory and governance consultancy, Tetractys Partners LLP. Gary is a regular conference speaker and author of technical articles on compliance-related topics, sits on the regulatory advisory group of the Journal of Securities Operations and Custody and holds Masters degrees from Oxford and London Universities and an MBA from the Open University Business School. 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 Content
Senior Managers and Approved Persons: the regulatory framework and approach
  • The regulatory structure and mandate
  • The key regulatory requirements for Senior Managers and Approved Persons holding SIFs and what this means in practice
  • New developments under the FCA/PRA
  • Outcomes focussed regulation backed by “credible deterrence” strategy
Senior Managers & Certification Regime
  • Core, limited scope and enhanced firms
  • Senior Management Functions
  • Responsibility maps and statements of responsibility
  • Certification requirements
  • Conduct Rules
  • Enhanced Fitness and Propriety requirements
  • Competence requirements
  • Recruitment
  • Transitioning from APER to SM&CR
Risk systems and controls
  • Systems and controls in key areas
  • Risk management and what the regulators will be looking for
  • Key elements of good governance
  • Remuneration and risk
  • Common problem areas
Regulatory hot topics
  • Experiences under the PRA and FCA
  • Regulatory developments
  • Oversight and Controls
  • What to expect from regulatory visits




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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