threesixty review understand solve track t r u s t January 2025
2 | Simplify risk management with trust
Welcome | 3 Simplify risk management with trust The trust compliance management suite features five modular solutions 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. Each of trust's five modules can be used independently, or as part of an integrated suite. All modules offer customisable access to align with your specific business requirements, confidentiality standards, and data security priorities. This brochure highlights the key benefits of each module. For further details about the trust compliance management suite or to arrange a demonstration, please reach out to our account management team. Contents Introducing the five trust modules Document repository Risk management framework Task scheduler SM&CR management Pricing information 4 6 10 16 20 26 At threesixty, we’ve been listening to and working with clients to understand their challenges. To help address these, we’ve developed trust - a compliance management suite supporting businesses of all sizes. trust simplifies compliance by streamlining the organisation, review, tracking, and evidencing of compliance tasks. It offers a clear framework for managing risks, identifying opportunities, and integrating compliance directly into dayto-day activities, ensuring it becomes routine and reducing costly, last-minute actions. Firms using trust gain peace of mind, knowing risks are actively managed. They benefit from greater confidence amongst PII providers, improved alignment with FCA requirements, and support with delivering of good client outcomes. By saving time and reducing risks, trust helps firms focus on growth and long-term success. Russell Facer, Chief Executive Officer
A truly holistic compliance management solution 4 |
Introducing the five trust modules | 5 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 framework 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. A truly holistic compliance management solution trust's five modular solutions work together or independently to provide flexible, effective support for your firms compliance needs. From centralising document management to streamlining tasks and meeting regulatory requirements, each module is designed to address specific challenges. Below is a brief summary of each module. Task scheduler A simple yet effective way to co-ordinate compliance activities, integrating an online business diary with task management features for seamless planning. SM&CR management Integrates several areas of a firms’ approved individuals’ requirements into a unified solution. Maintain records of senior managers and their assigned responsibilities, conduct fit and proper checks, certify staff members, and manage conduct rules, creating consistent records of any conduct rule breaches. 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 powerful tool for streamlined document management 6 |
A powerful tool for streamlined document management trust's document repository provides a robust, scalable, and central solution to simplify the management of compliance documents, enhance security, and improve efficiency. Document repository The document repository has helped us streamline how we manage our compliance documentation. Having everything in one place makes it much easier to stay organised and retrieve what we need for reviews and audits. The categorisation and search functions are straightforward to use and help us work more efficiently. The security features, such as access controls and user tracking, provide us with reassurance that our data is well managed, and its automated reminders have helped us maintain our documentation in-line with all the recent changes in regulation. Celia Williams, Senior compliance consultant | 7 Storage Audit trails Document management Version control Security and access control By utilising trust’s online document repository, firms can securely store their compliance documents in an accesscontrolled environment with built-in version control, ensuring only the most accurate and up-to-date versions are available. This streamlined approach not only improves document management but also integrates seamlessly with other modules within the trust suite, creating a cohesive and interconnected compliance ecosystem. The ability to link documents across modules enhances transparency, reduces administrative burdens, and supports efficient regulatory oversight.
Document repository Simplify compliance document management Centralised control and accessibility Consolidate all compliance documents in one secure location for easy access, reducing the risk of lost or inconsistent records. Efficient organisation and document retrieval Categorise documents by type and Consumer Duty outcome and create custom views for easy sorting and retrieval. Quickly locate essential documents during audits or reviews to maintain a smooth compliance process. Enhanced security and access management Protect documents with access restrictions and encryption. Ensure only authorised personnel can view or edit documents, reducing compliance risks. 8 | Effective document management is essential for keeping your compliance processes organised and efficient. trust’s document repository allows your firm to centralise, organise, and secure key documents, making them easily accessible while reducing the risk of inconsistencies or lost files. The document repository provides a structured and reliable approach to managing your compliance documents.
Enhance efficiency and stay compliant Streamlined workflows and accountability Maintain a detailed history of document changes with timestamps and user tracking, ensuring accountability. Stay ahead of your regulatory requirements Schedule document reviews and automate reminders, to ensure your compliance documents are regularly updated in line with regulatory changes. | 9 Ongoing compliance requires a structured and proactive approach. trust’s document repository helps your firm to maintain well-organised workflows, track document updates with accountability, and keep your documents in-line with regulatory requirements. Automated review schedules and reminders help to ensure your documentation remains current, providing support for your regulatory commitments. Document repository
A comprehensive system for efficient risk management and compliance monitoring 10 |
| 11 Risk management framework A comprehensive solution for efficient risk management and compliance monitoring trust's risk management framework, which includes ‘Risk and control management’ and ‘compliance monitoring programme’ features, is an essential tool for advice firms looking to strengthen their compliance framework. It combines risk identification, controls, monitoring, and reporting into one intuitive platform, making risk management and monitoring both efficient and effective. The firms I work with have found the framework invaluable, helping them to evidence their systems and controls. Whether generating reports for senior management or demonstrating how risks are being mitigated under the Consumer Duty, it has simplified their processes while showcasing their commitment to sound governance and good consumer outcomes. Rebecca Ferrier, Business risk consultant trust's risk management framework equips firms with the tools needed to implement and maintain a robust risk management system. It enables senior management teams to systematically identify, evaluate, and mitigate risks of regulatory concern, while providing clear evidence of monitoring and oversight. By combining a risk and control framework and compliance monitoring programme into a single solution, the module supports firms in evaluating the probability and impact of risks, assigning appropriate controls, and scheduling ongoing monitoring activities. The module offers firms access to over 70 predefined risks and controls and monitoring activities. Users can also create bespoke risks, controls and monitoring activities tailored to their specific needs. The system has been developed by threesixty's experienced business risk consultants drawing on their expertise in dealing with a wide range of regulated firms. Its powerful reporting capabilities enable firms to provide comprehensive reports for senior management meetings, the FCA, PI providers or potential investors. Identify risks Evidence compliance Evidence compliance Identify controls Record monitoring activity Risk register Compliance monitoring Monitor controls
Risk management framework 12 | Identify risks An extensive library of predefined risks Access a comprehensive library of over 70 predefined risks, regularly updated by experienced consultants to reflect the latest regulations and best practices. Personalise risks to your firm Add bespoke risks tailored to your firm’s specific business model and operations or modify predefined risks to suit your needs. Assess risks Evaluate the probability and potential impact of unmitigated risks, using trust’s built-in methodology for accurate risk scoring. Tailor risk consequences Select predefined potential consequences for each risk or add your own. trust streamlines the process of identifying and assessing regulatory risks with a comprehensive library of over 70 predefined risks, regularly updated by our experts. Firms can quickly select common risks while also adding or tailoring bespoke risks to reflect their unique needs.
| 13 Risk management framework Control risks Select from a list of controls Choose from a library of controls matched to predefined risks, developed by regulatory and risk experts. Create bespoke controls Design and implement tailored controls to address unique risks within your firm. Ensure accountability for risk management Assign responsibility for individual risks and their associated controls to relevant team members. Keep controls relevant and effective Schedule regular reviews of controls to ensure they remain up to date and fit for purpose. Link to supporting resources Attach relevant documents or external resources to controls for streamlined tracking and evidence. trust simplifies risk management by including predefined controls. Firms can also create or customise controls to address the unique risks they face. By assigning responsibility for each control and scheduling regular reviews, firms can maintain up-to-date and effective risk mitigation strategies.
Risk management framework 14 | Compliance monitoring Plan proactive monitoring activities Schedule and manage monitoring activities to assess the ongoing effectiveness of controls and address weaknesses promptly. Customise monitoring to your needs Tailor or create monitoring activities for both predefined and bespoke controls to align with your firm’s business model and operations. Assign monitoring responsibility Allocate responsibility for monitoring activities to appropriate individuals, while maintaining centralised oversight. Check monitoring activities Record whether the monitoring activities have been undertaken in accordance with the monitoring programme. Track monitoring activities Maintain a complete audit trail of all monitoring activities including what's been monitored, when and how. Sound risk management requires continuous oversight and monitoring. trust makes it easy to schedule and track monitoring activities to check that each control is working effectively.
| 15 Risk management framework Evidence compliance Generate insightful, filtered reports Export reports on risks, controls, and monitoring activities, filtered by Consumer Duty outcomes, compliance areas, or other key metrics. Showcase risk mitigation at a glance Produce visually impactful RAG-rated assessments of risks to illustrate both unmitigated and mitigated states. Demonstrate compliance with Consumer Duty Provide evidence of how your firm meets the Consumer Duty outcomes and how you are mitigating the risk of consumer harm. Share reports with key stakeholders Present detailed reports to senior management, the FCA, PI providers, or potential investors to demonstrate effective risk management. Maintain a centralised compliance record Keep an auditable history of all risk evaluations, control implementations, and monitoring activities for robust compliance evidence. trust helps firms evidence compliance through detailed, exportable reports that can be filtered by Consumer Duty outcomes or compliance areas. These reports can be shared with senior management, regulators, or other stakeholders, making it easy to demonstrate how risks are being effectively managed, mitigated and monitored.
A simple way to co-ordinate and manage compliance tasks 16 |
A simple and effective way to co-ordinate and manage compliance tasks trust's Task scheduler enables firms to effectively identify, plan, and manage both regulatory and non-regulatory activities throughout the year. With a comprehensive business diary that outlines the key actions required, trust's Task scheduler simplifies task tracking, assignment, and accountability, ensuring firms keep on top of their obligations and any regulatory change. Task scheduler The task scheduler will significantly improve how your firm manages its compliance and business tasks. The preset regulatory risks and compliance tasks are tailored for firms and make it easy to keep on top of your requirements, while the ability to customise activities and assign responsibilities keeps your teams organised. Notifications help to ensure nothing falls through the cracks, and you can easily track progress, plan ahead, and monitor your compliance strategy. Ian Grundy, Business risk consultant | 17 Choose activities Online business diary Task management Schedule & assign tasks Manage progress Maintain a record By bringing clarity and control to a firm's compliance efforts, trust's Task scheduler can help your firm operate smoothly and stay compliant. Its features not only streamline compliance management but also improve operational efficiency, allowing firms more time to focus on delivering exceptional client outcomes.
Task scheduler Choose and schedule relevant activities Create a comprehensive business diary Choose from a library of preset regulatory tasks tailored to your firm’s needs or create custom activities to meet specific requirements. Build a business diary outlining key regulatory and non-regulatory actions, keeping your firm organised, proactive, and ensuring important compliance tasks are never overlooked. Efficient task assignment Quickly schedule activities and assign them to team members, making it easy to monitor progress and accountability, reducing the risk of oversight, or duplicated effort. Plan ahead with month and calendar views Monitor your compliance strategy with monthly and calendar views, allowing you to allocate sufficient time for each activity. 18 | Efficient compliance management begins with careful planning. trust's Task scheduler provides a library of preset regulatory tasks and the option to create custom activities. It helps you to create a clear and comprehensive business diary that reflects your firm's requirements and provides a structured framework to help ensure important activities are completed efficiently and on time.
Manage tasks, track their progress, and monitor their completion Stay on top of regulatory changes Track tasks, assign responsibilities, and adapt to regulatory updates with ease, ensuring compliance is always maintained. Real-time tracking and alerts Pro-actively track task status – completed, in-progress, or overdue – and receive real-time notifications to ensure no deadlines are missed, minimising the risk of regulatory breaches. Maintain a centralised record. Keep a complete history of tasks, reviews, and activities in one central location for easy reference and audit readiness. | 19 The Task scheduler streamlines task tracking and completion with real-time updates and notifications, helping your firm meet deadlines and stay compliant. Centralised records ensure all compliance activities are documented and accessible, making audits and reviews simpler and more efficient. Task scheduler
A unified solution to manage SM&CR requirements 20 |
SM&CR management module 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. | 21 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 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. 22 |
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 | 23
SM&CR management module 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. 24 |
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. SM&CR management module | 25
Manage your compliance your way 26 |
Pricing information | 27 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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