The Senior Managers and Certification Regime (SMCR) has had and will continue to have a huge impact within the financial services industry. Firms captured in the first tranche have stated, that with hindsight, they would have allowed more time and resource early on to complete their SMCR projects plans.
Those firms following in the upcoming second tranche should learn lessons from those that have gone before them. The regulator will have listened to the feedback and this means they could be less lenient on repeated mistakes. The Senior Managers and Certification Regime is all the more daunting for firms as the repercussions for failings around the SMCR have the potential to be so severe. This fear and uncertainty can lead to delays in getting projects up and running efficiently as people worry about the complexity. However we helped to simplify SMCR and its implementation for our clients moving through the first tranche and are already working with firms moving towards this second phase. Our SMCR guide will let you discover how we have helped our existing clients and how we can support you, whether its kick starting your project, providing extra resource on certain areas you’ve identified or simply getting an outside expert opinion on what you have done to date.