SMCR is our BAU

New regimes and regulations always pose fresh challenges for firms, and Senior Managers and Certification Regime (SMCR) is no different. However, its impact at the very top of the organisation and the cultural change it is designed to bring, make it even more complex. BCS Consulting have been helping clients to address these challenges since the regime was first introduced almost 5 years ago, bringing unrivalled expertise to not just adapt to the world of SMCR, but to succeed within it.

We have leveraged this extensive experience to develop a proven SMCR analysis and delivery approach, underpinned by predefined solutions and tools that can significantly compress implementation timelines and costs, whilst ensuring full compliance with the rules. Reducing delivery timelines now will give impacted firms more time to adapt to the regime, train individuals, test changes and operationalise a new ‘business as usual’ (BAU) before go-live. This is much more likely to result in achieving the right design for the organisation and maintaining ongoing compliance with the rules.

As a leading UK provider of management consultancy to the financial services industry, we bring deep domain knowledge, expertise and focus to every client engagement. We specialise in Risk, Regulatory and Finance change as well as in Operations and Technology transformation. Our client portfolio includes a range of multinational and UK banks, insurance firms and asset managers who trust us to lead, define and deliver their highest priority change initiatives.

SMCR analysis, design and implementation

We are known for delivering:

• Successful end-to-end SMCR programmes, providing deep regime expertise and a proven methodology to help accelerate implementation timelines
• Highly effective and proven SMCR BAU operating model designs for firms to help them achieve ongoing compliance
• The full suite of predefined best practice tools and templates required to run SMCR
• Well-structured, highly impactful Responsibilities Maps that illustrate the true governance and management arrangements of firms
• Senior Manager (SMF) population option analysis, helping firms to apply SMCR to most accurately reflect true decision making and accountability
• ‘Reasonable Steps’ scenario-based workshops for Senior Managers to assess the robustness of their frameworks and supporting evidence
• Impactful and concise SMCR training to Senior Managers on their obligation under the regime and ‘reasonable steps’
• Mock interviews for Board members and Senior Managers to help them prepare for regulator visits and SMCR interviews
• Governance simplification and standardisation across entities, building consistency and enhancements to support ‘reasonable steps’ evidence.