threesixty review understand solve track t r u s t Senior Managers and Certification Regime (SM&CR) management
A truly holistic compliance management solution 2 |
A truly holistic compliance management solution | 3 A truly holistic compliance management solution trusts five modular solutions are designed to save you time, provide peace of mind, and help you evidence how your firm is managing its regulatory risks and, where relevant, meeting the Consumer Duty outcomes. From centralising document management to streamlining tasks and meeting regulatory requirements, each module is designed to address specific challenges. Modules can work together or independently to provide flexible, effective support for your firms compliance needs. This brochure focuses on trust's SM&CR management module, but the following additional modules are also available. A comprehensive compliance management dashboard is included with every module, offering full oversight of your firm's compliance. Document repository A robust and scalable centralised solution for managing compliance documents. It acts as a single source of truth, ensuring clear document ownership and comprehensive version control to simplify tracking and managing changes. Risk management register A comprehensive solution, combining risk and control framework management and a compliance monitoring programme to help you manage risks and the monitoring of compliance across your firm. Task scheduler A simple yet effective way to co-ordinate compliance activities, integrating an online business diary with task management features for seamless planning. T&C management (coming soon) An efficient way to build an effective T&C framework for managing and monitoring the onboarding of new advisers and attaining and maintaining competence. Document repository Risk management framework Task scheduler SM&CR management T&C management Compliance dashboard
A unified solution to manage SM&CR requirements 4 |
SM&CR management module | 5 A unified solution to manage SM&CR requirements This module simplifies managing key areas relating to senior managers, certification, fit and proper, and conduct rules. Its automation features save time, reduce the risk of overlooking something, and provide clear audit trails for extra peace of mind. With firm level overviews, you also gain a comprehensive ‘helicopter view’ of key roles and areas. Mike Kennedy, Business Risk Consultant Senior Managers Regime obligations Allocation of prescribed and other responsibilities across SMFs, and the creation and maintaining of Statement of Responsibilities (SoRs). Fit and proper assessments trust streamlines and documents annual fit and proper processes by prompting individuals to complete declarations online. Managers are notified of submissions, enabling them to carry out timely fit and proper assessments. Certification regime obligations trust supports certification creation, ongoing updates, and speeds up recertification by pre-populating a certificate from staff member’s existing data. Conduct rules management trust confirms which individuals are subject to which conduct rules tiers (tier 1 or both tiers) and maintains an organised record of any conduct rule breaches. The Senior Managers and Certification Regime (SM&CR) is a key part of the FCA's drive to improve culture, governance, and accountability in financial services. We understand the complexities of SM&CR compliance and the responsibilities of FCA approved individuals. trust integrates multiple requirements for approved individuals into a single solution. With trust's SM&CR management module, core, enhanced, and limited scope firms can maintain records of senior managers and their assigned responsibilities, ensuring clear oversight and proper resourcing. Streamlined process for fit and proper checks, and logging conduct rule breaches further strengthen your risk management framework, freeing senior managers to focus more time on running their business.
SM&CR management module 6 | Senior Managers Regime obligations Centralised compliance management The SM&CR management module centralises the recording of senior management responsibilities in a single platform, making it easy to manage regulatory requirements and maintain organised, up-to-date documentation. Firm wide oversight A clear view of senior management functions, roles, and responsibilities across your firm is provided, ensuring complete coverage of compliance requirements. Flexible document generation trust generates Statements of Responsibilities (SoRs) in PDF format. SoRs can be formatted to meet FCA submission requirements simplifying the documentation process. The system also maintains a detailed history of changes, providing an audit trail for each individual. Reduced administrative burden Centralised storage and automatic updates reduce manual errors and streamline administrative processes. trust simplifies the management of responsibilities under the Senior Managers Regime by centralising the allocation of functions, responsibilities, and Statement of Responsibilities (SoRs). With trust, firms can manage their senior managers' compliance obligations in a structured, efficient way that enhances transparency and reduces administrative tasks.
SM&CR management module | 7 Fit and proper assessments Streamlined fit and proper processes trust relieves the administrative burden of ‘fit and proper’ checks by automating key steps. It prompts individuals to complete their declarations online to evidence an individual's honesty, integrity, and reputation, competence, and capability and financial soundness. Managers are notified once declarations are submitted, facilitating the completion of timely assessments. Proactive compliance checks trust flags any missing or pending assessments, promoting teams to complete the required steps to stay compliant. Centralised record keeping trust consolidates all activities related to fit and proper assessments, making it easier to manage records for audits and regulatory reviews. trust will support your firms fit and proper assessment process, guiding staff members through declarations and notifying managers to complete timely, thorough assessments. This structured approach to fit and proper assessments helps firms ensure compliance with regulatory standards, while reducing the time and effort needed to complete these essential tasks prior to submitting the attestations that an individual is deemed FIT.
SM&CR management module 8 | Certification regime obligations Efficient certification and re-certification trust speeds up annual re-certification by pulling through existing role and function data to pre-populate fields. This efficient process reduces manual errors and ensures accurate and timely certifications. Structured certification process trust requires that fit and proper assessments are complete before certification, maintaining compliance and providing an audit history for each individual. Centralised compliance management Easy tracking and management of certification statuses across the firm. A firm level view of staff members grouped by certification functions. Integration with Task scheduler and Risk management framework The SM&CR management module integrates with trust's Task scheduler to provide automatic deadline reminders and notifications, as well as linking with the Risk management register, providing continuous compliance tracking. trust helps to streamline the annual certification process. Once a staff member is configured, certifying or re-certifying can be completed in a matter of minutes. All the while, ensuring firm’s meet their regulatory requirements with accuracy and consistency.
SM&CR management module | 9 Conduct rules management Enhanced visibility of conduct rules Easily confirm which employees are subject to conduct rule Tiers 1 and 2 and log any breaches ensuring consistent and thorough management of conduct rules. Comprehensive compliance oversight The SM&CR management module provides a firm-wide view of compliance, including conduct rule breaches and certifications, with a management responsibilities map to ensure all obligations are covered. Proactive compliance checks trust will flag any outstanding conduct rule requirements or breaches, helping firms address issues before they escalate. Tracking and recording of conduct rule breaches Conduct rule breaches and assessments are tracked and documented within the system, supporting thorough recordkeeping for compliance audits. trust enables firms to clearly define and track which employees are subject to specific conduct rule tiers and to log any breaches as they occur. This ensures that all conduct rules are managed consistently across the firm, with clear records of any conduct rule breaches.
Manage your compliance your way 10 |
Pricing information | 11 1 - 5 employees 6 - 10 employees 11 - 25 employees 26 + employees £25 pm (plus VAT) £50 pm (plus VAT) £80 pm (plus VAT) Price on application SM&CR management 1 - 5 employees 6 - 10 employees 11 - 25 employees 26 + employees £25 pm (plus VAT) £50 pm (plus VAT) £80 pm (plus VAT) Price on application T&C management Modules Core clients Document repository Risk management framework - Risk and control register - Compliance monitoring programme Compliance management dashboard Risk management £75 pm (plus VAT) Currently included ü ü The below prices are current as of January 2025. For more information about trust, please contact our account management team. Call: 03707 360 360 Email: am@threesixtyservices.co.uk ü Task scheduler - Business diary - Task management ü x Business risk clients ü ü ü ü ü ü ü
threesixty services Limited The Royals, Altrincham Road, Manchester, M22 4BJ Telephone 03707 360 360 Email talktous@threesixtyservices.co.uk Web www.threesixtyservices.co.uk
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