Preparing for an FCA Visit and Interview

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Will your firm withstand the regulator’s scrutiny? Are you ready to be interviewed? This short-course will help you get prepared for the toughest of questions.

The regulator is about to knock on your door. Maybe your firm have been selected for a Thematic visit or supervisory visit checking on your progress against the Consumer Duty or are you seeking authorisation for a new SMF role.

Your firm and your senior team are likely to face intense scrutiny, from time to time. Are you ready for that call and do you know where they are likely to focus? For many firms this is a very stressful time, with senior managers – executive and non-executive – feeling the pressure across all sectors.

Many senior managers have already experienced this increased rigour, some very publicly. Surviving a regulator’s visit is now more difficult than ever. But with expert insight and smart preparation, you can make it much easier.

Be prepared for anything – If you’ve experienced an FCA visit in the past, you’ll know just how tough these sessions can be. Instead of hoping for the best, this course helps you prepare for the worst.

Avoid last minute stress –  We help you think smartly and get prepared for an impending visit from the regulator. Instead of frantic, last minute panics you’ll take a calmer, more measured approach.

Key learning objectives:

• Determine how ready your firm is for a FCA visit
• Learn what you can expect from the visit (including actual questions asked)
• Anticipate who in your firm is most likely to be interviewed
• Predict what client activities they may want to monitor
• Understand current hot topics and how they’ll influence your visit
• Be prepared for any question the regulator throws at you

09:30 The FCA’s powers and approach:

• Introduction and objectives of session
• The supervision framework
• What information is being requested of firms with examples
• Focus of the FCA on Investment Management (wholesale) from the FCA’s latest Annual Business Plan and its Investment Management Market Study report
• Drawing conclusions of what might be asked
• A reminder of senior managers’ responsibilities and the impact of SM&CR

10:30 Analysing high risk areas:

• Effective corporate governance 
• Your business strategy: realistic, sustainable and clear?
• Risk management: its efficacy (with emphasis on risk management, not simply risk measurement)
• A brief look at Investment Management conduct risks
• Independence and objectivity of audit, compliance & risk management functions (including the parent/group)
• Culture, ethics, and senior managers’ fitness and propriety
• The impact and implications of COVID- 19

11:30 Short break

11:45 Preparing for a regulatory interview:

• Clearly articulating your business strategy and operating model
• Explaining your ‘levers of control’
• The ‘dos and don’ts’ when being interviewed
• Management Information – How is it used and what is it telling you?
• Understanding your ’3 Lines of Defence’
• Exercise to answer actual questions
• Closing thoughts

12:00 Close and networking opportunity

• An opportunity for you to network with the trainer and other delegates

Stephen Fairclough
With over 20 years training experience in financial services, Stephen is well placed to support across a wide range of developmental activities. He is a former Head of Education for HSBC covering the UK and Europe, responsible for regulatory and financial crime related compliance learning. His time at HSBC was during intense scrutiny from regulators and government functions during the bank’s Deferred Prosecution Agreement.

With other roles ranging from advising customers within a high-street retail branch, to Senior Vice President responsible for Global Risk & Compliance training at a US-based bank, Stephen’s range of experience is adaptable. He also worked in the Insurance Firms division at the Financial Conduct Authority (in the FSA days) where he was the divisional expert for the rules and outcomes required under the Training & Competence handbook. Stephen won the Thomson Reuters award for “Most Effective Compliance Training at a Regulated Firm” in 2010.

The HSBC role, along with five years at Barclays in their Private Clients and Wealth functions, has seen Stephen work with retail, commercial, wholesale and private banking channels. While enjoying the design and delivery of training to an audience either live or virtually, Stephen also works with compliance, HR and operational teams to build or enhance learning frameworks, ensuring appropriate systems, controls, checks and balances are in place to withstand any robust regulatory scrutiny, as well as delivering sustainable commercial benefits to the business.

This training course is run under the Chatham House Rule, for reference please see here

• Exco and Board members (including NEDs)
• Senior Managers (SMFs and those applying for SMF roles) and Head of Key business areas

IA Member £395.00 +VAT
Non-Member £545.00 +VAT

Pay using a credit card online, or if you wish to be invoiced please email your full details to: Training@theia.org

PLEASE NOTE: Full payment for the course must be made prior to the course commencement date.

• Any cancellation must be made in writing.
• For all cancellation received 15-30 days prior to the course start date, 50% of the course fee is still payable.
• No refund is given for a cancellation made 14 days or less prior to the commencement of a course.
• Transferring from one course to another is treated as a cancellation. You can substitute one delegate for another at no additional cost. In this instance, please give two business days’ notice.

Hybrid Training Courses:

Hybrid deliveries of our training allows participants on our courses the option to attend in-person here from our offices at Camomile Court, or you can attend virtually via MS Teams.

Please be advised a training course could change from hybrid delivery to solely virtual delivery. In such an event, we will inform delegates at least one week prior to the course delivery date.

There are a limited number of in-person spaces available on this course and this will be allocated on a first come first served basis.