Solutions / Axiom for SMCR

Axiom for SMCR

Track responsibilities,ensure compliance

With the Senior Managers and Certification Regime (SMCR) coming into effect for all financial regulated firms 2019, there is likely a need for renewed focus on the roles of the majority of the staff.

The regime requires firms to allocate clear responsibilities to named individuals and has a far wider scope than the previous Approved Persons regime. The SMCR rules allow enforcement action to be taken against individuals working in banks and financial institutions and will require mandatory record-keeping activities and an overhaul of existing processes to comply.

Axiom for SMCR manages and monitors the responsibilities of senior managers whilst providing governance, oversight, and transparency through real-time MI and dashboards.

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Countdown to SMCR implementation for solo-regulated firms: 1 month to go

Implement SMCR in your firm with Axiom for SMCR
 To implement SMCR, you will have to allocate prescribed responsibilities, record them in SORs and certify all the staff. Here is a preview of our solution that can help you with your firm's SMCR implementation.
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Have you mapped your firm yet?
If you’re an Enhanced firm, one of the requirements under SMCR is to create a Responsibilities Map. To be able to do this you will need to first map your firm's structure and reporting lines. Learn how to do this easily with Axiom.
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Have you created the Responsibilities Map yet?
If you are an Enhanced firm, one of the requirements under the new Senior Managers and Certification Regime is to create the Responsibilities Map. Its objective is to give a collective view of the allocation of responsibilities across a firm and to spot the gaps in the Senior Managers’ Statements of Responsibilities.
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Have you prepared the Statement of Responsibilities (SOR) for all the Senior Managers yet?
As part of the Senior Managers and Certification Regime, Senior Managers in regulated firms must have a Statement of Responsibilities. This is a single document that sets out their role and responsibilities clearly.  It is not the same as a job profile, rather it should focus on what the Senior Manager is accountable for.
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How to manage your firm's SMCR Certification process on Axiom
Under the new Senior Managers and Certification Regime firms must regularly certify the staff who can have a significant impact on customers, the firm or market integrity and who aren’t Senior Managers. The workflows you can create on Axiom allow you to easily manage Certification within your HR and Compliance processes.
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Key features of the solution

Track responsibilities, ensure compliance with Axiom for SMCR solution

Create 'Statements of Responsibilities'

Manage 'responsibility maps'

Conduct 'Fit and Proper' reviews

Track professional training and development

Manage certification of individuals

Notify regulator of breaches

Conduct detailed process and control reviews

Manage MI and personalised dashboards for each role

Why use the Axiom platform?

The industry-leading integrated risk management platform

Simplify Audit Preparations

Enhance Oversight

Minimise Risk

Monitor in Real Time

Open to Integration

Simple to Use Analytics

Stable and user friendly interface

It is relatively low-cost with the user interface stable and user-friendly. The backup team from Axiom are easy to contact and within that team, there are CASS specialists who are recognised throughout the industry which gives us confidence in the advice and the solution that we are using.

Tryphonas Stavrou, Chief Finance Officer
Fiske Plc

Ticks all the boxes

Axiom ticked the boxes we really wanted to cover. The centralisation, the attestation and the resolution pack. It ticks all the boxes that we wanted to sign off.

Torquil Macleod, Head of Regulatory Reporting
R J O'Brien Limited

Axiom openly committed to enhancing its product

Axiom pretty much does what it is supposed to do. It is refreshing to see a software provider that is so openly committed to enhancing its product.

Mike Fenton, CF10a
Psigma Investment Management

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Industry-leading regulatory compliance solutions

Axiom HQ provides regulatory compliance solutions designed to help you demonstrate and evidence compliance using Axiom platform’s comprehensive rules-mapping, risk and control tools, automated reporting features and powerful dashboards.

Axiom HQ is a trusted partner of the top financial services companies