Chair of Audit Committee (SMF11) Appointments at FCA Firms
Chair of Audit Committee (SMF11) Appointments at FCA Firms The Chair of the Audit Committee at FCA-regulated firms is among the most demanding senior NED appointments in the UK regulated landscape. The SMF11 designation under the Senior Managers and Certification Regime gives the role personal …
Chair of Risk Committee (SMF10) Appointments at FCA Firms
Chair of Risk Committee (SMF10) Appointments at FCA Firms The Chair of the Risk Committee role at FCA-regulated firms has become one of the most demanding senior NED appointments in the UK regulated landscape. The SMF10 designation gives the role personal accountability under the Senior …
Senior Independent Director (SMF14) Recruitment at FCA Firms
The Senior Independent Director role at FCA-authorised firms has become one of the most distinct and demanding NED appointments in UK financial services. The SMF14 designation under the Senior Managers and Certification Regime gives the role specific personal accountability, and the practical position of the …
First-Time Chair at a Regulated Firm: What FCA Approval Requires
The first Chair appointment at an FCA-regulated firm is a particular kind of milestone. The candidate has typically held meaningful senior roles before — often as an executive director, CEO or NED in non-regulated contexts — but is taking on the SMF9 Chair designation for …
Chair Recruitment for FCA-Regulated Firms: The SMF9 Brief and What Boards Should Look For
Chair Recruitment for FCA-Regulated Firms: The SMF9 Brief and What Boards Should Look For Appointing a Chair at an FCA-regulated firm sits within a regulatory framework that shapes the search from the first day of the brief. The role is the SMF9 — the Chair …
Executive Director Appointments at FCA-Regulated Firms: The SMF3 Brief
The Executive Director designation under the Senior Managers Regime is one of the more frequently misunderstood Senior Manager Functions at UK regulated firms. SMF3 sits alongside SMF1 (Chief Executive) and SMF9 (Chair) as one of the governing functions, but the rules for applying it, the …
CEO Appointments at Challenger Banks: PRA Expectations and Dual-Regulation Reality
Appointing a chief executive at a UK challenger bank is not the same exercise as hiring a CEO for an FCA-only firm. A bank is dual-regulated: the Prudential Regulation Authority supervises its safety and soundness, and the Financial Conduct Authority supervises its conduct. The CEO …
Recruiting a CEO for an FCA-Authorised Firm: What Makes the Brief Different
Recruiting a CEO for an FCA-Authorised Firm: What Makes the Brief Different Appointing a Chief Executive at an FCA-authorised firm sits within a regulatory framework that shapes the search from the first day of the brief. The role itself is the SMF1 — a designated …
Statements of Responsibility (SoRs) and What Boards Should Consider Before Appointing an SMF
Statements of Responsibilities — almost always shortened to SoRs — are among the most consequential documents in any board-level appointment at an FCA-regulated firm. An SoR sets out what an individual Senior Manager Function (SMF) holder is personally accountable for. It is what the regulator …
What the Senior Managers Regime Means When Recruiting at Board Level
Board appointments at FCA-regulated firms happen inside a regulatory framework that changes the shape of the search. The Senior Managers and Certification Regime (SMCR) is not a compliance overlay applied to a candidate’s CV once the board has chosen. It changes who can hold the …
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