Preparing for Regulatory Visits and Interviews

Date: On a date of your choice
Location: Delivered as an online interactive seminar
Event Code: PRVI

Course Details

Designed to provide Non-Executive and Executive Directors with an up-to-date insight into the hot topics that the PRA and FCA are currently focused on and how best to prepare themselves for those critical regulatory interviews.

Over the past 18 months the difference in the two regulators approaches, personnel and response when they are concerned or dissatisfied, has diverged and the past is not a guide to the future. Directors need to be on the ball across a wide range of topics and have a good recall of key figures that demonstrate prudent management of the firm by the board as well as the business model, conduct controls and culture of the business.  

This workshop style event with recent examples of the regulators approach is essential for anyone anticipating that they will be called for interview - as part of a visit or as an application for authorisation.

“The board is responsible for the oversight of, but not for managing the business, which is the responsibility of the executives.  But the PRA expects executive management to exercise judgement and actively to apprise their boards of key business developments, decisions and activities at an appropriate but early stage.PRA CP Corporate governance:  Board responsibilities May 2015

The Agenda

1. The Shift in the Approach to Visits in the New Regulatory World

  • Categorisation of firms and what that means for you
  • The relative objectives of each regulator
  • Their perception of your responsibilities to the firm and to them
  • The importance of the new Individual accountability of Executive and Non Executive Directors  

2. The Expectations of Non Executive and Executive Directors

  • Board Responsibilities & Business Culture: How they are measured & assessed
  • Risk: How your risks are aligned to the Statutory Objectives
  • Challenge: The role of the Non-Executive / How to demonstrate challenge exists
  • Conduct: Understanding the oversight responsibility of your distribution model
  • Hot Topics: What they are & how they apply to you 

3. Managing your Interview

  • Critical areas for preparation
  • Individual versus joint responsibilities and how you demonstrate personal compliance
  • Typical questions
  • Do’s and don’ts for the interview
  • On going relationships  - building and maintaining

4. Regulatory Remedies

  • Increasing use of the S166 to research and remedy rather than enforcement action
  • Important tips for selecting and using S166 suppliers
  • Key steps to prevent the need for this work
  • Conclusions and how to prepare yourself for an interview 

Who should attend?

Designed specifically for Non-Executive and Executive Directors who are likely to be called for interview and who wish to be ready to present their company in the right way.

Key Benefits

  • Ensure that your knowledge and understanding of the latest hot topics is up to date.
  • Know what the regulator is looking for in key areas.
  • Understand how your Business Model and Business Culture are measured and assessed.
  • Know what you may be asked, and why about your Strategy & Leadership.
  • Consider examples of questions posed and how best to prepare for them.
  • Consider examples of the use of S166 skilled persons reports and how to avoid them.
  • Understand the implications of the new Senior Manager regime and how to evidence your individual compliance. 

Your Consultant: Nindy Mellett

Nindy provides a comprehensive range of risk and compliance solutions to financial services firm.  She has over 20 years’ experience in the sector, primarily general insurance.  She specialises in supporting clients in their regulatory change projects and has an exceptional record in managing SMCR implementation.  She is experienced in conducting s166 reviews.

Nindy spent six years at the FCA in Policy and Supervision.  She was a key contributor to several regulatory change projects.  She was also responsible for maintaining the sector risk maps and provided communications support to management.  She is an accomplished trainer and has designed and delivered training to supervisors.

Nindy has extensive experience in supporting boards and senior management in understanding and applying regulatory requirements. She has delivered numerous training sessions and workshops. Her technical experience, insight into regulatory expectations and pragmatic approach ensure that sessions focus on the key issues with emphasis on practical solutions.




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