The Essential Guide for Senior Managers of Insurers

Date: On a date of your choice
Location: Delivered as an interactive briefing
Event Code: EGSMI

Course Details

From Solvency II to the new Duty of Responsibility introduced in December 2018, a Senior Manager in an insurer needs to be on the ball across a wide range of topics to demonstrate effective governance of the firm. This workshop style event is designed to provide new and existing Directors of insurance firms with up to date insights and critical knowledge of the latest regulatory expectations plus practical tips on managing the increasing personal risk.

The agenda covers:

  • The new Senior Managers and Certification Regime and how it applies to insurers
  • The hot topics the PRA and FCA are currently focused on in the insurance sector
  • How best to prepare for regulatory interviews

As well as the standards themselves you will explore recent examples of the PRA’s supervisory approach and actions taken to remedy identified deficiencies.

Who should attend:

Any Directors and Senior Managers of insurers who are approved or are seeking approval by the PRA and/or FCA. It is also ideal for those newly appointed as part of induction or as part of succession planning. NB: If you are FCA only regulated then we have a separate tailored course.


1. Current governance standards expected of regulated firm

  • Duties of Directors under Company Law
  • Role and purpose of the Board and its committees

2. What the PRA & FCA expect of you

  • The High Level standards and your role in overseeing compliance with them
  • A summary of the key components of SMCR and their applicability to insurance firms and individuals
  • Statements of responsibility & Management responsibilities maps
  • The concept of Reasonable Steps
  • The Certification regime

3. The regulatory approach to visits and interviews

  • How your risks are aligned to the PRA and FCA statutory objectives
  • Categorisation of firms and what this means for you
  • PRA and FCA insurance hot topics: What they are and how they apply to you

4. Managing your interview

  • Critical areas for preparation
  • Typical questions
  • Dos and don’ts for the interview

5. Managing the increasing personal risk

  • Demonstrating Reasonable Steps as an SMF
  • Recent Enforcement actions and what they convey
  • Increasing use of attestations and s166 skilled persons reports

Key Benefits

  • Ensure you know the standards that the regulators expect and their fit with your responsibilities as a Company Director
  • Know the behaviours that the Code of Conduct for Senior Managers demands and what action would breach them
  • Gather ideas for demonstrating Reasonable Steps
  • Ensure that your knowledge of the latest PRA and FCA hot topics is up to date
  • Understand how your business model and culture are measured and assessed
  • Know what you might be asked and why about the governance, strategy, and culture in your firm
  • Consider example questions from the PRA and how best to prepare for them
  • Explore examples of regulatory remedies including s166 skilled persons reports, attestations and Enforcement action




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