SMCR for Banks

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The Senior Managers and Certification Regime (SMCR) is a regulatory framework that applies to banks in the UK. It was introduced by the FCA in March 2016 as part of the Parliamentary Commission on Banking Standards report following the 2008 banking crisis, with the aim of creating greater accountability for those with responsible roles.

Under SMCR, banks must ensure that all senior managers have appropriate qualifications and experience for their roles, and are fit and proper to carry out their duties. Banks must also maintain a register of approved persons who are subject to the regime, and provide adequate training and support to ensure they meet their obligations.


Effective systems, policies and procedures

In addition, banks must have effective systems in place to monitor staff conduct and identify any potential risks or conflicts of interest. They must also take steps to prevent misconduct by having clear policies and procedures in place, including whistleblowing arrangements.

The goal of SMCR is not only to ensure that banks meet their regulatory requirements but also that they act with integrity, take responsibility for their actions and create a culture where employees are held accountable for their behaviour.


We help banking compliance teams meet their SMCR requirements

Our SMCR software provides an easy-to-use platform that helps banks manage SMCR compliance, including notifications when and how they should respond to regulatory changes. Banks can also use the PeopleClear SMCR software to track employee certifications, monitor conflicts of interest, and ensure that all employees are aware of their responsibilities under the SMCR. With PeopleClear, banks can be sure that they are meeting all their SMCR obligations in a timely and efficient manner.

Whether you are ready to implement a software solution or you are looking for guidance and best practices, PeopleClear provides an all-in-one solution that can help you stay on top of your obligations. Get in touch with us today to find out how we can make SMCR compliance easier and more efficient.

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In just a short call we can explain how we can review and enhance your SMCR processes. Whether it's consultancy, training or adoption of better software that will most benefit your organisation, it all starts with a conversation.

Let us know what number we should contact you on. You can also mention any specific issues or challenges around SMCR that you'd like to discuss.
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