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29th April 2020

SMCR Conduct Rules & Reasonable Steps Solution Enhancements

Author: TriLine GRC

Following invaluable feedback from the FCA RegTech Showcase Team we have developed some significant improvements to our SMCR solution.   

SMCR places a duty of responsibility on Senior Managers as individuals to take ‘reasonable steps’ to comply with FCA regulation and prevent any breaches, and for those individuals who delegate tasks to other employees and departments to ensure compliance with regulatory requirements.

Our three part ‘reasonable steps’ dashboard is designed to give high level evidence of responsibility, performance and action taken under a Senior Manager Function. These dashboards combine to give an overview of accountability and current status, along with assurance that tasks are being regularly completed.

at reasonable steps

Once a SMF is selected, the first page shows immediate governance, risk and compliance items linked to the role. Where applicable, it will also show the live rating, such as event impact, risk, rating and KRI Trend.

 

at reasonable steps key stats

The KPI dashboard gives graphical insight into key measurables and statistics for items linked to the SMF. It can be configured to display the most important information that requires close attention, such as high priority events or KRIs. All of this is accessible via mobile application.

 

at reasonable steps tasks

The tasks dashboard presents the tasks and records linked to the SMF, indicating the activities carried out to ensure that reasonable steps are taken. This includes automated tasks such as risk, control and process reviews, as well as ad-hoc actions.

 

TriLine GRC helps firms deploy conduct rules and demonstrate that their employees adhere to them.  The solution helps to ensure that any breaches can be easily identified and reported to the FCA, providing evidence that the firm has taken appropriate reasonable steps to identify a breach and  that the risk is mitigated further.

A growing number of FCA regulated firms are implementing our fully integrated GRC and SMCR solution to improve their governance controls.

If you would like to download our new SMCR solution guide, click here

Please complete the form below if you would like to arrange a solution demonstration.

 

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