Initially, you probably thought that there was no need for SMCR Software for a firm of your size, but as the 12 months grace period wears on, you are not alone if you have shared these thoughts or pains: “Managing certification and conduct annually is going to be a bigger a job than we expected” or “We’ve done the mapping on excel but ongoing reporting and keeping it 100% accurate is going to be a headache”. Don’t worry, it is not too late – at least, not yet!
We are in that key transition phase now for SMCR with most firms having completed mapping and assignment of roles but the enormity of the annual certification and conduct, coupled with the pressure to keep all the data accurate and 100% up to date all the time is really hitting home to many of our clients. With the shift in responsibility having moved from the firm to the individual, there is no surprise given the levels of personal liability involved.
Spreadsheets and manual control mechanisms don’t provide the visibility or audit trail to meet the FCA’s expectation of being able to demonstrate a solid SM&CR control process. Firms are also realising that managing Certification and Conduct using paper-based systems is never going to work. Compliance software aimed at the banking sector is excessively sized and priced for solo regulated firms who need an affordable and reliable SMCR solution and that is why firms are turning to Actus.
Actus Comply eliminates these concerns with a simple, but highly effective SMCR solution. We have a purpose-built SMCR module for assigning and tracking responsibilities with a full audit trail; clear reporting and a host of value-add features. Actus Comply also offers CPD; Certification and Conduct management for the whole firm.
You can be confident that Actus Comply will meet your needs as it has been developed in partnership with FCA experts and Financial Services firms like yours. Our experienced team will support you through implementation and beyond. Clients also benefit from access to our thriving SMCR focus group and community where HR and Compliance leads from different firms collaborate on best practice.
There are three Actus Comply options available to you:
Actus Comply was designed in partnership with clients in the financial services industry to specifically meet the needs of the Senior Managers & Certification Regime providing the accountability, visibility and reporting that is required to ensure that regulatory compliance can be demonstrated with confidence.
Actus Comply was designed in partnership with the Financial Services Industry to support SM&CR requirements and is equally relevant for other industries with regulatory obligations.
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