Women in Financial Services Blog

Is the Senior Managers & Certification Regime causing you a headache?

Is the Senior Managers & Certification Regime causing you a headache?

Mark.Freed / 30 Jan 2018

At E2W, we are passionate about helping women in financial services further their careers and achieve success.  In January we hosted an extremely successful event on the hot topic of the Senior Managers and Certification Regime.  What events would you like us to host?  

E2W Senior Managers Regime ‘Primer’ Workshop
E2W Regulation & Compliance Team 

24th January 2018

 

At E2W, we are passionate about helping women in financial services further their careers and achieve success.  We make that happen by organising events throughout the year which focus on current, salient issues within financial services, allowing women to continue their professional development whilst networking with peers and seniors.  

A couple of weeks ago we ran our second event on the Senior Managers & Certification Regime: a complicated topic that requires some thought and with the many variables at play, a great subject to discuss with fellow industry professionals. 

The event

The panel: 
• Cosette Reczek, Managing Director, Permuto Consulting;
• Harriet Parsons, Financial Services Litigator and an Enforcement and Investigations Specialist, at HSP Legal Ltd. 
• Anne Hubbell, Transformation & Governance Specialist, Interim Executive & Strategic Advisor, Hubbell Associates Limited.

On Wednesday 24th January, Olga Venosa of UBS, kindly hosted the latest panel discussion on the Senior Managers & Certification Regime (SMCR) for E2W’s Regulations and Compliance Team. 

E2W members Cosette Reczek, Harriet Parsons & Anne Hubbell presided over lively and informative discussion, as attendees shared knowledge, learnt from one another & networked with other women from their sector within financial services. 

E2W is responding to the demands for more support and help on this topic by planning a SMCR forum.  The forum will provide
• senior level professional networking; 
• a place to share resources;
• information about future SMCR related events.

To recap …
The Senior Managers Regime is part of UK regulation, introduced by the Financial Conduct Authority in 2016 with the aim of increasing the accountability of senior members of staff in financial institutions with operations in the UK. 
The SMR requires firms to allocate prescribed responsibilities to certain senior individuals and to vet their fitness, propriety and conduct on a regular basis.  These senior members of staff need to take ‘reasonable steps’ to ensure that rules and regulations are not contravened. 

The Regime is already live for banks and insurance companies, with investment firms, asset management firms and the remainder of UK financial services companies to comply in the future.   

 
To read about the first event on SMCR, please click here.
If you would like to further your professional development in this way whilst networking with likeminded women, then please sign up here to learn about future events on these ‘hot topics’.  
Do you have a suggestion for an event or a current issue that warrants discussion?  We’d be interested to hear from you - please contact Tina Freed or Rhian Bowler.
To understand more about the benefits of E2W membership, please click here.

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