Getting Prepared for the Regulatory Visit

This programme is only available on in-company basis. Please, contact us for more information

Course Description

With the significant increase in the number of firms the FCA regulate, unless you are a Pillar 1 organisation (large banking or insurance institution), far more of their regulatory and oversight work is carried out at a distance. They may be looking at your company without you knowing. The first you become aware of their interest maybe as part of a thematic review, a request for information or a Dear CEO letter. How you respond to their initial communications sets the scene for the interaction that follows.

At the centre of a successful interaction is your ability to portray confidence, have a keen attention to detail, recognise the importance of documentation and to think like the regulator. Firms that do not consider FCA interactions until they happen leave themselves open to rushed responses, significantly increased stress levels and a tangible drop in productivity. 

After the course, you can be confident of returning to the office with a much clearer understanding of which systems and processes need attention, allowing you to efficiently allocate valuable time, effort and resource.

 

What Will You Learn

By participating in this very practical one day course you will:
 
  • Learn what to expect from a regulatory visit and how to prepare for the best possible outcome 
  • Understand what the Regulator is focusing on and learn how to address it
  • Find out what kind of questions you may be asked and how to answer them
  • Identify any weakneses within your organisation and learn how to address them 
  • Learn how to prepare yourself to demonstrate confidence and avoid unnecessary stress

 

Main Topics Covered During This Training

  • How the regulator operates and what do they focus on
  • How will you know the PRA/FCA are about to visit
  • Assessing potential risk and impact on your business
  • Areas of focus for the regulator during the visit
  • Best strategies to prepare for the visit
  • Senior Management preparation 
  • Post-visit requirements

 

Who Should Attend

The course is suitable for:

  • Anyone within senior management team including: MDs, COOs, CFOs, CRM
  • Compliance Officers
  • Risk Managers
  • Audit Managers 

within any type of financial institution. 

 

In-company, call us for more information

Getting Prepared for the Regulatory Visit - A 1 Day Course 

 

How the FCA/PRA’s operates 

  • The regulators statutory powers
  • Methods of supervision 
  • Thematic reviewed
  • Requests for information
  • Deep dive visits
  • Senior management attestations
  • Risk mitigation programmes
  • Section 166 order

 

Understanding the time, shape and impact of a PRA/FCA visit

  • When and why does the regulator employ each method
  • How will you know the PRA/FCA are about to visit
  • Possible negative impact of a regulatory visit: regulatory, reputational, financial

 

Areas of focus for the FCA

  • Corporate Governance
  • Senior management responsibility arrangements
  • Committees and management teams
  • How the firm continues to be compliant – Three lines of defence
  • First line business operations
  • Second line you independent compliance oversight
  • Third line, internal and external auditors
  • The shape for effective Risk Management
  • Risk register operation and reporting
  • Risk mitigation and Management Information
  • The definition of risks: Regulatory, Conduct, Reputational and Financial

 

Senior management preparation

  • Robust documentation and evidence of senior management fitness, propriety and competence.
  • What to expect and how to prepare for an FCA interview
  • Be able to demonstrate senior management impact and support corporate values expected by the regulator

 

Understanding potential post visit requirements 

  • Self-assess and construct an effective Risk Mitigation Programme
  • Preparing for senior management attestations
  • Responding to a section 166 order

 

Summary and close

The Course Director is a highly experienced financial services regulatory management and training consultant, previously a compliance director - Head of Compliance Monitoring & Regulatory Reporting, with an impressive commercial track record across financial services operations in a range of economic cycles.

His professional experience includes the development and implementation of compliant processes and procedures that include areas such as: governance and oversight; effective systems and controls; client on-boarding and market conduct projects. His clients include firms such as: Dresdner Kleinwort Wasserstein, AXA Framlington, Deutsche Bank and currently Woodford Investment Management.

In addition to consulting engagements, he delivers regulatory training courses on the subjects of Financial Crime, Client Assets, Conduct Risk, Governance and Oversight, Senior Management Regime, Effective Compliance Monitoring. He has worked closely with the Financial Ombudsman Service and the Finance and Lease Association on complaint handling and management.

Getting Prepared for the Regulatory Visit <p>With the significant increase in the number of firms the FCA regulate, unless you are a Pillar 1 organisation (large banking or insurance institution), far more of their regulatory and oversight work is carried out at a distance. They may be looking at your company without you knowing. The first you become aware of their interest maybe as part of a thematic review, a request for information or ... In-company