This blog seeks to help you plan your project for the implementation of the Senior Managers and Certification Regime.
The Worksmart Team have a great amount of experience in implementing SM&CR in the Banking world. We’ve been working with banks since before the regime came into being around Summer 2015 and so we have more than 3 years’ experience of implementing and working with firms.
Areas of Focus
The key areas of focus we think you need to concentrate on fall into four categories.
HR – do not underestimate how much time this will take from your HR Colleagues.
Processes – There are processes that you will need to build that you will not have built before. For example: Businesses have never had to run an internal certification regime. It’s process heavy, it’s people heavy and you will need to think about how you are going to manage that internally.
Systems – have a look at what systems you’ve got. What is fit for purpose? What might you be able to amend or update to help you manage the regime? Look at the gaps – What haven’t you got? What isn’t fit for purpose? You may need to look at the external options open to you.
Culture – the Regulator says it is all about, ‘tone from the top’.
So, within your organisation, how will you demonstrate that you have embraced SM&CR and that you are implementing the regime with the right intent. Well going back to the comments earlier, with an appropriate Senior Manager sponsoring your project, then this should take care of itself.
Click below to read the next blog in this sequence: ‘SM&CR – Project tasks and useful tips – Who Does What?
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5 Great Strategies for Successfully Implementing SM&CR in your Organisation