In our latest podcast, Worksmart’s Head of Sales, Julian Sammells and Award Winning Consumer Advocate, Caroline Wells, discuss the impact final rules of the new Consumer Duty and the changes to the Appointed Representatives Regime will have on a firm’s approach to T&C schemes and Complaint Handling. Answering questions from a live audience of Compliance professionals, our panellists share the critical role technology and data will play in demonstrating how your firm can deliver good customer outcomes to the FCA.
Find out how Worksmart’s SM&CR solution, Accord has helped global asset Management firm, Janus Henderson Investors meet its SM&CR regulatory obligations and ensure clear central record keeping, strong corporate governance, clear accountability and evidence of employee Fitness & Propriety.
In part one of this two-part podcast series, Julie Pardy Worksmart’s Director of Regulation and Market Engagement walks you through the key components of the new Individual Accountability Framework and Senior Executive Accountability Regime (SEAR) that lies at the heart of the Central Bank of Ireland’s approach to Conduct and Culture.
In part two of this two-part podcast series, Julie Pardy, Worksmart’s Director of Regulation and Market Engagement, takes a closer look at the lessons Irish regulated financial services providers (RSFP) can learn from the UK’s experience of applying the Senior Managers and Certification Regime (SM&CR), the importance of reg tech in managing the regime and the next steps in-scope firms should undertake to implement the individual accountability framework successfully.
The FCA published their Annual Business Plan to the market in July 2021. The Worksmart team took the opportunity to unpack the detail via a hosted webinar in August. Through discussion with more than 100 Senior Managers representing all sectors of Financial Services, a debate was undertaken about what this tougher, more intrusive and robust regulator (their words) was proposing.
Listen to Nic Dent, Customer Propositions & Client Engagement and Julie Pardy, Director of Regulation & Market Engagement as they discuss the output of a number of key polls used in the Webinar that reflect the views of those attending.
In part 2 of this in depth dive into the Individual Accountability & Conduct regime recently introduced in Singapore, our Director of Regulation & Market Engagement discusses the regulatory expectations around Fitness & Probity assessments for both Senior Managers and identified Material Risk Personnel. Bringing in “lessons learnt” from other accountability regimes across the globe.
Listen to Worksmart’s Julie Pardy, as she considers the pitfalls and wider consideration when developing processes in support of these regulatory requirements, and reviews the expectations of the regulator, Senior Managers and Material Risk Personnel in financial institutions, to be fit and proper for their roles.
On the 10th September 2021, the Monetary Authority of Singapore introduced its own Accountability Regime for Financial Institutions operating in this territory. In the first of a two part series, listen to our Director of Regulation & Market Engagement discuss the elements of the new regime and consider what implications this has for Financial Institutions, their people and their processes. As an award winning solution provider for the UK accountability regime, the podcast is peppered with hints and tips about how to get this right first time!
Listen to Worksmart’s Julie Pardy, who discusses how MAS expects financial institutions to strengthen senior managers accountabilities and how to promote a culture of ethical behaviour.
No longer a tick box exercise, diversity and inclusion (D&I) through the regulator’s eyes is an indicator of your firm’s approach to Conduct and Culture. Firms, therefore, should be prepared for the FCA to start asking questions about the diversity of their management team and how they are creating an environment in which all people of all backgrounds feel free to speak up.
Listen to Worksmart’s Julie Pardy, who encourages regulated firms to be far braver in their approach to D&I, in order to create a long-lasting inclusive culture.
In March, the BoE published a breakthrough report on it’s research on the indicators of poor culture and risk. What is most interesting is that the report is not based on traditional research methods, e.g. questionnaires, interviews etc. Instead, the BoE used 20 data driven indicators that are signposts of poor culture and increased risk.
Listen to Julie Pardy, Nic Dent and Philip Allen discuss this fascinating report and the learning that all regulated firms can take from it.
Last December, the PRA issued the results of its review of into the implementation of SM&CR in dual-regulated forms, i.e. banks and insurers, which have been in operation for four years (March 2016).
Listen to Julie Pardy, Nic Dent and Philip Allen discuss the key messages from the report and the learning that all regulated firms can take from the PRA’s report to help their embedding of SM&CR
In this short podcast Julie Pardy, Director of Market Engagement and Regulation, and Nic Dent, Head of Propositions & Client Engagement, at Worksmart review the polling results of over 100 Compliance, Risk and HR professionals to consider how T&C can transform team performance and corporate culture.
Given the importance of competence and culture to the FCA’s agenda, listen to Julie and Nic’s insights and ideas for how you can breathe new life into your T&C scheme in 2021.
In this second podcast looking back at 2020 from a regulatory perspective, Julie Pardy Director of Market Engagement and Regulation at Worksmart and Philip Allen ex-Director of Learning at UK Finance, focus in on an often overlooked aspect of the SMCR rules, namely Conduct Rules training.
In the FCA’s Stock Take of SMCR implementation in the banking sector, conduct rules training was given a ‘red light’ (using the traffic light system). Solo-regulated firms should therefore not underestimate this key part of the implementation process.
Julie and Philip use their experience of multiple SMCR implementations to provide guidance and practical suggestions to help your firm not only comply but also gain business benefit.
In this first podcast looking back at 2020 from a regulatory perspective, Julie Pardy Director of Market Engagement and Regulation at Worksmart and Philip Allen ex-Director of Learning at UK Finance, look at the implications of extension to the deadline of the first round of Certification and from 9th December 2020 to 31st March 2021 for solo-regulated firms.
Importantly, they will also discuss the indicators they are picking up from listening to the FCA regarding what they are looking for in 2021.
If you think that compliance costs for regulated firms are steep, then the cost of non-compliance is jaw-droppingly high. Whether we are talking regulatory fines, damage to reputation, customer detriment or impact on business continuity, the very real threat of non – compliance has a disproportionate impact on a firm’s bottom line that can’t be ignored.
In this joint Worksmart and Elephants don’t forget podcast, a follow-up episode to the latest webinar on the ‘The Not so hidden cost of compliance’. Adrian Harvey, from the AI-powered knowledge retention firm Elephants Don’t Forget and Julie Pardy Director of Market Engagement and Regulation at SM&CR technology firm Worksmart summarize the thoughts and opinions of over hundred heads of compliance and compliance officers within financial regulated firms.
In this follow up podcast to the webinar ‘Covid-19 proves to be the SM&CR litmus test’ webinar panellists Julie Pardy and Adrian Harvey are left somewhat surprised as they review the webinar audience poll responses on regulated firms attitude towards SM&CR compliance and the training that firms are or are not providing employees on the new types of risk working from home.
Listen back on demand to all our webinars on SM&CR, Certification and Complaint Handling by visiting worksmart.co.uk
In this short podcast, webinar panellists Anthony Eghan, Caroline Wells, Sarah Lawrence and Adrian Harvey answer the audience questions posed in our most recent webinar on complaint handling under Covid-19. The panel provides their perspectives on:
• Whether firms have furloughed too many staff?
• What financial firms can learn from other sectors
• How some firms have improved their reputation under Covid-19
• Are customers getting their needs met by firms in this pandemic?
In this 10 min. podcast Julie Pardy Worksmart Director of Market Engagement and Regulation speaks with Marian Bloodworth, Employment Partner at law firm Kemp Little who provides her top 10 recommendations for HR professionals who, in light of SMCR, are reviewing and implementing the necessary changes to their firms’ HR lifecycle.
Issues that Marian covers include the issue of regulatory references, conduct rule breach scenarios, fitness and propriety and certification of staff.
Uploaded to our channel by kind permission of PIMFA, Julie talks to PIMFA Head of Learning, Philip Allen about the key topics from Worskmart’s SM&CR panel session at the PIMFA annual summit.