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SMCR as it Relates to Internal Audit

Price £

315

+VAT

Duration

2 hours

We can run this course inhouse or privately just for you and your colleagues.

 

Please submit a training request to check availability and prices.

About the Course

This course explores the PRA and FCA appointed Internal Audit Senior Manager Function and their expectations of the role holder.

The SMCR is a major regulatory regime that is shifting how individuals operate in senior roles within the financial services sector. Unlike other SMFs which are either PRA or FCA appointed, the SMF5 is rather unique in that both PRA and FCA require firms to appoint an individual to role. This training course looks at why Internal Audit is so important to regulators and what the regulators expectations are of the function.

Learning Outcomes

By the end of this course particants will:

  • Understand why the PRA and FCA require Internal Audit to be allocated to a senior manager

  • Be able to explain the role of governance forum in relation to Internal Audit, and the SMF responsibilities

  • State the obligations of the Internal Audit SMF holder

  • Describe what might be reasonable steps for the Internal Audit SMF holder to take

  • Explain the PRA and FCA areas of focus on Internal Audit

Course Outline

The SMCR is a major regulatory regime that is shifting how individuals operate in senior roles within the financial services sector. Unlike other SMFs which are either PRA or FCA appointed, the SMF5 is rather unique in that both PRA and FCA require firms to appoint an individual to role. This training course looks at why Internal Audit is so important to regulators and what the regulators expectations are of the function.


Participants will learn about the senior manager's regime as it relates to Internal Audit, why the regulators place such importance on the role of Internal Audit, and their expectations of the function. The course will cover the role of governance forums in relation to Internal Audit and the SMF holders obligations and responsibilities. It looks at practical actions that individuals can take to meet the reasonable steps requirements of the Senior Managers Regime.


Our training course is ideal for audit professionals, risk managers, senior executives, and other relevant personnel in firms regulated by the PRA and / or FCA who require a more in-depth understanding of the SMR specifically as it relates to the Internal Audit function.

Required Knowledge and Skills

Our course is aimed at people working in Internal Audit, who aspire to work in Internal Audit, or for whom Internal Audit is a key stakeholder.

Participants are assumed to have a basic knowledge of the role of Internal Audit in a financial services business.

About Your Trainer

Daiman Baker

Daiman Baker

Daiman has 20 years of experience in London-based investment banks in front office compliance advisory roles and in delivering regulatory change across multiple EU and UK pieces of legislation.

Leveraging his background as a lawyer, Daiman delivers design, implementation, remediation projects, business governance / management structures, SME / regulatory interpretation input, policy and procedure drafting and training.

At Leaman Crellin Daiman focuses on regulatory consulting and training to firms, both TradFi and those operating in the Web3 space.

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