UK Regulatory Visit Coaching for Senior management


Published on

UK Financial Services are regularly visited by the FSA. The visit will include random interviews with fairly deep questions asked that, when taken as a whole, if they don't add up, will require further regulatory scrutiny.

We help companies prepare for these visits and explain what the FSA are looking for, how best to respond and how to keep up your end in a very intimidating process.

Published in: Business, Economy & Finance
  • Be the first to comment

  • Be the first to like this

No Downloads
Total views
On SlideShare
From Embeds
Number of Embeds
Embeds 0
No embeds

No notes for slide

UK Regulatory Visit Coaching for Senior management

  1. 1. Preparation Is Everything Regulatory visits will always be a stressful time for many financial institutions, but good CEI Executive Coaching preparation can make thefor Regulatory visits CEI Compliance Executive Coaching for Regulatory visits We provide an opportunity for executives and other senior staff to practice responses in a safe environment with specific expert coaching and practical feedback. Turn Here for more details
  2. 2. The FSA’s objective is to obtain reassurance that the firm has, or will reasonably have, in place the systems and controls that will enable it to comply with the regulatory requirements.Under the powers vested by FSMA, the FSA may visit not only the firm itself, but alsoits advisers, clients, counterparties and companies to which it has outsourced any ofits functions. This is an essential training session if youre involved in Compliance orRisk Management. It also provides an essential insight for any senior managers whomay be interviewed as part of the visit.CEI Executive Coaching for FSA Visits provides an opportunity for executives andother senior managers to practice responses in a safe environment with expertcoaching and feedback. The FSA approach invariably begins with a one to oneinterview with the executives undertaking significant influence functions. TheFSA’s objective is to obtain reassurance that the firm has, or will have, in place thesystems and controls that will enable it to comply.We also create a tailored bank of questions that the FSA is likely to ask based uponour intelligence from the market and the FSAs own information. Areas of interest inthe initial interviews are likely to be: ● Risks and risk controls CEI Eng CEI age ● Strategy Pla d! CEI nni ● Corporate Governance Wo ng! rks ● Structures and organisation CEI hop Pro ! jec ● Compliance culture t Pl an! ● Managing the competence YOUR of direct reports Succe ss!
  3. 3. This Two-Stage Workshop is designed to enable Boards, senior executives and managers to: ● Gain insight into the purpose and design of the FSA’s supervision approach ● Practice responding to questions likely to be put by the FSA on an ARROW visit ● Experience the style and format of an FSA interview ● Create standard briefing documents for the firm ● Receive constructive and expert coaching to improve presentation of information What we will coverBasic elements ● Introduction to the FSA – who, what, and why ● Senior Management Systems and Controls ● Approved Persons regime ● ARROW visit – best approach and practice Intermediate elements ● ARROW visit – dealing with the interviews ● Operational risk ● Managing regulatory change Advanced elements ● Treating Customers Fairly ● Ethics ● Conflicts of interest ● Outsourcing ● Financial crime ● Enforcement To book your Board and Executive Coaching for Regulatory visits or for further information please contact us now... 0800 68 99 689
  4. 4. What to Prepare in adjacent office te room or office to use (possibly even hire oneTry to ensure that the visitors have a separa nes and other office equipment (even PCs so they can log intoblock or serviced office centre) but use of telepho beforehand.your system ). It may be prudent to clarify these requirements of your approved possible. Provide copies (paper or electronic)Collate all your documentation as soon as you may have over documentation, any product provider POS thatfinancial promotions log, point of sale (POS)branded. for soft copies. al promotions materials and electronic accessEnsure access to your hard copies of financi expect the FSA staff a desktop unit for access to your files, DO NOTSPECIAL NOTE: If you are not able to provide them with a laptop to viewto use a USB pen drive/USB stick from you inserted into their machines: provide commonplace.anything held on storage devices. Viruses areMake sure your complaints log is up to date evidence of actions s and risk register available, with documented Ensure you have a comprehensive risk analysi taken for each issue. tely. and evidence of these revisions recorded adequa Policies and procedures should be up to date be accurate and updated. Breach register and FSA contact log needs to practices. If you and reflect the current business model and Your Compliance Manual needs to be up to date the links to and follow need a consolidated and practical manual go Annual testing and ance manual understanding from all staff? Evidence of money laundering and compli s) goes a long way with regulatory inspect ors. attestations (especially from Approved Person why not. te. What has been reviewed/revised and if not, Compliance Monitoring Plan - updated and accura And all this is just the start ....... Don’t Panic if you are informed of a visit just call CEI on 0800 68 99 689 (C) CEI Compliance Limited 2012. All Rights Reserved