Preparing for an FCA Visit and Interview

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

13:00 Lunch and networking opportunity

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

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

Julia Kirkland, Chartered FCSI

Julia is the Head of Regulatory Training and Market Research for ZISHI Cornerstone (part of the OSTC Group) and has spent the last eighteen years consulting with clients in financial services helping them to respond to regulatory change.

Working with Boards and more recently leading provision of a programme for NEDs joining Asset Management Boards, she has assisted groups to resolve real difficulties between their preferred style of operation and what the regulator requires. Her passion is to reconcile what regulators require aligned with best practice and the particular culture and strategy of her clients. An excellent facilitator, with an intelligent and highly effective communication style she seeks to provide clarity to regulation for all levels of the business.

Her career began at GT Asset Management in 1980’s and she held senior roles at Invesco Perpetual where she helped lead the implementation of complex changes to the client and fund proposition.

Julia is a Chartered Fellow of the Chartered Institute for Securities and Investment, and holds a Diploma in Management Studies. Julia writes articles and speaks on the topic of Governance and people development.

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.