What are the HR Implications of SM&CR?

This is a practical session for those working in HR who will be involved in implementing the SM&CR within their firms. When a number of the banks and building societies approached their SM&CR implementation projects, these projects were seen as ‘compliance projects’. However, as these projects developed, HR took more of a leading role in relation to implementing the SM&CR within their firms.

This is a practical session for those working in HR who will be involved in implementing the SM&CR within their firms.

When a number of the banks and building societies approached their SM&CR implementation projects, these projects were seen as ‘compliance projects’. However, as these projects developed, HR took more of a leading role in relation to implementing the SM&CR within their firms. This reflected the fact that a number of aspects of the SM&CR touch on HR issues and processes, and that HR was also expected to handle these issues and processes when the SM&CR went live.

KEY LEARNING OBJECTIVES:

• Consider the central role that HR has to play in relation to the SM&CR.
• Understand the key HR issues that firms now facing implementing the SM&CR will need to deal with, including tricky certification issues and processes, regulatory references, handovers (in some cases) and recruitment and promotion processes.
• Receive insights into some of the challenges that HR professionals may face once the SM&CR comes into force, as well as when the SM&CR is embedded across the industry.
• Understand the impact that HR decisions relating to employee conduct may have on regulatory reporting, both to regulators and to other firms through regulatory references.

13:30 Networking lunch

• A sandwich lunch will be provided and an opportunity for you to network with the trainer and other delegates

14:00 A brief overview of the Senior Managers and Certification Regime

•  Introductions
• Learning objectives
• What are the key requirements of the new regime?
• What are the key aspect of the new regime that HR should focus on?

14:30 Key HR considerations in relation to the Senior Managers Regime

• Recruitment and promotion
• Employment documentation considerations
• Preparing Senior Manager applications to the FCA
• Handovers

15:00 Key HR considerations in relation to the Certification Regime

• Recruitment and promotion
• Employment documentation considerations
• Annual assessments of fitness and propriety
• Ad hoc assessments of fitness and propriety

15:30 Tea/Coffee Break

15:45 Disciplinary action under the Senior Managers and Certification Regime

• Adapting your existing disciplinary processes to fit the new regime
• Assessing fitness and propriety
• Assessing breaches of the Code of Conduct

16:15 Notification of employee conduct issues

• Regulatory references
• Notifications to the FCA

16:45 Summary

17:00 Close

This course is aimed at those working in HR departments within Investment Management firms.

IA Member £375.00 +VAT
Non-Member £450.00 +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.

Sarah Henchoz

Sarah is a Partner in Allen & Overy’s Employment practice. She leads Allen & Overy’s Senior Managers and Certification Regime (SM&CR) Working Group from an employment perspective. She advised a number of banks and building societies in relation to the implementation of the SM&CR, and is already instructed by a number of FCA-only authorised firms to provide advice in relation to their implementation projects. She has been involved both in SM&CR mapping and scoping exercises for financial institutions, as well as providing more detailed advice on employment issues arising from a variety of implementation and post-implementation challenges.

Working in conjunction with Allen & Overy’s regulatory team, Sarah has delivered a number of training sessions on the SM&CR issues. Sarah has also contributed to our market-leading publications on the SM&CR.

Sarah Hitchins

Sarah is a Senior Associate in our Banking, Finance and Regulatory Litigation Group. Sarah specialises in representing firms and individuals involved in financial services regulatory investigations and enforcement action in relation to a broad variety of wholesale, retail and financial crime issues. Sarah also advises financial institutions on a range of non-contentious issues, including compliance obligations and senior management accountability arrangements.

Sarah is a member of our Senior Managers and Certification Regime (SM&CR) Working Group and advised a number of banks and building societies in relation to the implementation of the SM&CR, as well as the litigation and regulatory enforcement risks associated with it. Sarah has also been advising a number of firms in relation to issues arising in relation to the new Regime post-implementation, such as fitness and propriety assessments, disciplinary processes and how the regulators may expect firms to operate the new Regime in practice. Sarah has also already been instructed by a number of FCA-only authorised firms to advise them in relation to their SM&CR implementation plans.

Sarah is the co-author of Allen & Overy’s market-leading publications on the SM&CR, and regularly speaks at client and industry-wide events on the SM&CR.

Sarah has completed a secondment to the Enforcement Division of the FSA (as it then was). In 2015, Sarah was selected by Global Investigations Review (GIR) as one of the top 100 women in investigations.