Live Webinar - Senior Managers & Certification Regime (SM&CR)

Description

This course is ideal for leaders, Certified Persons, HR professionals, and compliance managers tasked with overseeing the effective implementation of SM&CR.

What you will learn

Duration: 2 Days
Maximum 10 delegates

Part 1
Understanding SM&CR: Foundations, Responsibilities, and Regulatory Expectations

About this session
The Senior Managers and Certification Regime (SM&CR) was introduced by the FCA and PRA to improve individual accountability, strengthen governance, and embed a culture of responsibility across regulated firms. For insurance firms, understanding the regulatory expectations is essential, not just for Senior Managers but for all certified individuals.

This foundational workshop provides a clear and structured introduction to the SM&CR framework, its components, and the expectations placed on leaders and professionals operating within it. Participants will explore the background, rules, and risks associated with non-compliance, gaining the knowledge needed to understand both organisational and individual responsibilities under the regime.

This course is ideal for leaders, Certified Persons, HR professionals, and compliance managers tasked with overseeing the effective implementation of SM&CR.

Objectives
By the end of Part 1, participants will be able to:

• Explain the purpose and evolution of SM&CR within the UK regulatory landscape
• Identify the three key elements of SM&CR: the Senior Managers Regime, Certification Regime, and Conduct Rules
• Understand the responsibilities of Senior Managers and Certified Persons
• Interpret regulatory expectations and personal accountability under SM&CR
• Examine enforcement trends and real-world case studies of SM&CR breaches
• Recognise the relationship between governance, leadership, and regulatory conduct

Content
Origins and Objectives of SM&CR: Why the regime was introduced and what it replaced (e.g. SIMR)

• The Three Pillars of SM&CR:
• Senior Managers Regime (SMR)
• Certification Regime
• Conduct Rules
• Regulatory Scope and Application to Insurance Firms
• Statements of Responsibilities and Duty of Responsibility
• Fitness and Propriety Requirements: What they are and how they are assessed
• Case Studies: Enforcement actions against individuals and firms
• The Role of Organisational Culture in SM&CR Compliance
• Q&A and Debrief

Part 2
Implementing SM&CR: A Practical Guide for Managers

About this session
Having a solid understanding of SM&CR is essential, but applying it effectively is what builds a culture of accountability and reduces regulatory risk. This second workshop focuses on how managers and senior leaders can operationalise SM&CR within their teams, departments, and organisations.

Participants will work through practical methods for assigning responsibilities, assessing fitness and propriety, embedding conduct rules, and developing governance documentation. Through guided exercises, real-world case reviews, and group discussions, they’ll build confidence in managing day-to-day SM&CR obligations.

Objectives
By the end of Part 2, participants will be able to:

• Translate SM&CR requirements into day-to-day management practice
• Maintain and update Statements of Responsibilities (SoRs) and Management Responsibilities Maps
• Embed the Conduct Rules into performance management and culture
• Conduct and document Fitness & Propriety assessments
• Develop effective training, monitoring, and governance structures
• Support the FCA’s expectations of personal accountability and organisational control

Content

• Practical Responsibilities of Managers under SM&CR
• Creating and Reviewing Statements of Responsibilities (SoRs)
• Developing Management Responsibilities Maps
• Embedding the Conduct Rules into Behavioural Expectations
• Fitness & Propriety (F&P) Assessments: Structure, evidence, frequency
• Monitoring Conduct, Competence, and Culture
• Linking SM&CR to Performance Reviews and Development Plans
• Governance Frameworks, Record-Keeping, and Reporting
• SM&CR Health Check Activity: Self-assessment of current implementation gaps
• Action Planning and Next Steps