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SMCR for Support Functions

Price £

365

+VAT

Duration

Half day (3 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

Our course explains the purpose of the SMCR and what the regulator wants to achieve. We will highlight key lessons learned from enforcement action related to SMCR and clarify the role of the three lines of defense in SMCR compliance. Providing you with guidance on what the regulator expects from support functions and sharing top tips for scoping a SMCR monitoring review or audit

This SMCR training course for Legal, Compliance, Monitoring, Audit staff explains the regulator's objectives, the role of three lines of defence, and how support functions can help with SMCR compliance. It also covers lessons learned from enforcement action and top tips for monitoring or auditing SMCR.

Learning Outcomes

By the end of this training, participants will be able to:

  • Understand the purpose of the SMCR and its impact on the financial services industry 

  • Identify key lessons learned from enforcement action related to SMCR 

  • Recognize the role of the three lines of defence in SMCR compliance 

  • Apply their knowledge to support the business in complying with SMCR Scope

  • Plan a SMCR monitoring review or audit

Course Outline

This SMCR training course is designed for support staff in Legal, Compliance, Monitoring, Audit roles who need to monitor, support, advise or audit the business compliance with the Individual Accountability Regime (IAR).


Our course covers the purpose of the SMCR and what the regulator wants to achieve, including how it differs from previous regimes. Participants will learn about key lessons learned from enforcement action related to SMCR and the role of the three lines of defence in SMCR compliance. The training will provide guidance on what the regulator expects from support functions, including how to support and advise the business on SMCR compliance. 


The course also shares top tips for scoping a SMCR compliance monitoring review or internal audit, including how to identify the most relevant areas of the business to review, and how to report findings and recommendations. 


By the end of the training, participants will have the knowledge and skills to support the business in complying with SMCR and to plan and conduct a SMCR compliance monitoring review or internal audit effectively.

Required Knowledge and Skills

The course is suitable for individuals working in support functions such as risk, compliance, legal, finance, wanting to enhance their knowledge of the Individual Accountability Regime, commonly known as the SMCR

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