When you submit an application to the FCA for a new Senior Manager Function holder you must include a Skills Gap Analysis.
The Skills Gap Analysis should be the result of your hiring process. It should map the candidate's skills against the job description and record the resulting gaps. Once the candidate has joined your business you should then map the output into a Learning and Development plan which you review at least once a year. This is all part of meeting the obligations under the Senior Manager Regime and the competent employee's rule.
As with all these requirements the challenge is very often knowing that these documents are needed, and then having something that can get you started. This is what our Skills Gap Analysis is there to help you with. We give you the headings, columns, layout etc that you need. We even provide a worked example so that you have an idea of what you are aiming at.
We’ve produced these documents for the banks and have worked at and with the regulators to make sure we know how to meet regulatory expectations. You just need to download and follow the example to start using this Skills Gap Analysis template.
Contained within your digital download are:
The skills gap analysis which has assessment questions ready for you to add your evidence and conclusion
Pre-set ratings that you can customise
A complete listing of all the FCA Senior Manager Functions and Prescribed Responsibilities
A template cover sheet separate from the skills gap analysis so it is easier to share the content without revealing personal data about individual candidates should you need to share internally for analysis and comparison
Instructions on how to use the template
Drop down menu’s so that you don’t have to search around for names of Senior Manager Functions or Prescribed Responsibilities
Drop down menu’s for the rating
Step-by-step guides which talk you through in very simple terms how to adjust the drop-down menu’s
Skills Gap Analysis Template
This document is in Microsoft Excel (*.xlsx)