PRA and FCA require individuals within both the Senior Manager Regime and the Certification Regime to be assessed at least every 12 months as Fit and Proper before a certificate can be issued. The regulators specify certain elements that make up the Fit and Proper test and expect the assessment to be clearly documented. From an employment law perspective every individual should be treated fairly and there should be some consistency in the approach taken to the Fit and Proper assessment given the potential consequences of failing the assessment.
This Fit and Proper Assessment template incorporates regulatory expectations, best practice and achieves a fairness to individuals in how they are assessed. It is designed for use by the assessor, which is usually the line manager who may not have the regulatory expertise to know what they must cover and how they should approach each element of the test.
The template has been designed with the assessor in mind, making it practical, succinct, and self explanatory with drop down menu’s for assessors to record their responses.
The template is designed for assessments of both new joiners, internal movers and existing holders of Certification Function.
As well as covering the three core elements of the Fit and Proper assessment required before issuing individuals with a certificate. This template also captures essential information for the assessment to be internally practical and viable such as details of who is being assessed and how the firm is comfortable that the individual will satisfy the Fit and Proper Test going forward.
The template includes notes for the office or function that will manage the certification process which include instructions on how to amend the drop down menu’s to reflect internal risk appetite and approach.
As with all our templates this has been formatted ready to print and \ or circulate internally. The template is in black and white, and uses Arial font. It is ready for you to apply your corporate branding or just start using.
Fit and Proper Assessment Template
File FormatThis document is in Microsoft Excel (*.xlsx) format. A version in Excel 97-2003 (*.xls) format is also available in the shop.