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There is little doubt that the new Senior Managers Regime and Certification Regime will prompt the Firms to connect the dots between day to day operations and accountability, but it’s questionable whether it will change the culture in Financial Services.
In July 2014 the regulators announced their intention to ‘Strengthen accountability in banks’ in their joint consultation paper FCA CP14/13/PRA CP14/14 that introduced a new regulatory framework for individuals:
Read MoreProposals for regulatory references were outlined in the consultation paper published by the regulators yesterday. Firms are already required to provide references upon request, the new regulation requires Firms to request references for people that fall within the Senior Managers and Certification regimes.
Highlights are:
Read MoreThe Senior Managers Regime (SMR) aims, simply, to clearly assign responsibility and accountability to those in positions that directly affect the success, or indeed failure, of organisations in the banking sector.
It is designed to encourage individual accountability for decision-making in banks, building societies, credit unions and Prudential Regulation Authority (PRA) designated investment firms. As of last week...
Read MoreWe are one of the only software companies in the world to provide an integrated, Risk-based Performance solution powered by Microsoft's SharePoint platform.
Our goal is simple – to help businesses execute strategy while operating within their acceptable level of risk exposure.
Very few organisations are capable of obtaining a single enterprise-wide view of their performance and risk management information. Instead the tendency is to employ multiple tools that operate in silos; rarely communicate with one another; provide conflicting information; and contribute to poor decision-making.
We believe performance and risk are essentially different sides of the same coin. To effectively manage either, they must be managed as an integrated process with a single, integrated solution. StratexSystems provides that solution.
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