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.
The FCA’s Senior Managers & Certification Regime (SMCR) is set to cover all solo-regulated firms from 9 December 2019. To implement it, you will have to allocate prescribed responsibilities to all senior managers, record them in statements of responsibilities, and certify that all the staff that can have a significant impact on customers, the firm or market integrity are fit and proper to carry out their duties. Here is a preview of our solution which can help you in your implementation of the senior managers and certification regime.
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.
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.
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.
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Industry-leading regulatory compliance solutions
AxiomHQ 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.
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