Many firms allocate functions or responsibilities to individuals when they are not required to do so for example, they have a Chief Risk Officer and think that as the rules list a SMF4, Chief Risk, that they must therefore make that individual an SMF when that may not be required. The FCA will not reject or query an application if it is not required under the rules because they assume you are opting in.
The rules are not linear, requiring skill and understanding to navigate so as not to create unnecessary liability for individuals at your firm.
Our Responsibilities Matrix allows you to quickly identify the minimum Senior Manager Functions, Prescribed Responsibilities and Certification Functions you are required to allocate to individuals within your firm.
Included in your digital download are:
- Analysis of which PRA and FCA Senior Manager Functions apply to your firm
- Analysis of which PRA and FCA Prescribed Responsibilities apply to your firm
- Analysis of which PRA and FCA Certification Functions apply to your firm
- Easy to use filters to very quickly identify the minimum requirements that apply to your firm
- Guidance on how to identify what FCA SMCR firm you are
- Guidance on how to use our Requirements Matrix
SMCR Requirements Matrix for SMCR Banking Firms
This product is in Microsoft Excel (*.xlsx)