How will the SMCR affect HR? Find out in our free guide
Our new white paper, ‘Understanding the SMCR: a guide for HR professionals’, explains how the SMCR will affect HR processes, and why HR should be at the vanguard of SMCR change
Subscribe to our blog updates
Our new white paper, Understanding the SMCR: a guide for HR professionals, explains how the SMCR will affect HR processes, and why HR should be at the vanguard of SMCR change
The extension of the Senior Managers and Certification Regime (SMCR) on 9 December 2019 to all UK financial services firms regulated by the Financial Conduct Authority (FCA) is set to have a major impact on how businesses recruit, screen, manage and develop many of their employees.
Adopting the SMCR successfully will also require firms to create and cultivate a culture of personal and collective accountability – a change programme that will need HR professionals at its core if it is to succeed.
According to our poll of HR professionals, the SMCR is set to have a wide-ranging impact on a number of business areas in HR’s remit, including appraisals, background checks, regulatory references, recruitment and employee record-keeping. A fifth said they expected expect the requirements of the Senior Managers Regime to have a ‘significant impact’ on their organisation, while nearly half (45%) said the Certification Regime – which applies to a wider, but less senior, cohort of employees – would have a significant or major impact on their HR processes and policies.
Download our new white paper, Understanding the SMCR: a guide for HR professionals in financial services firms, to discover:
- The SMCR’s requirements, the FCA’s expectations, and what penalties firms could face for non-compliance
- How the SMCR will affect HR processes
- HR’s role in leading SMCR change
- How Dudley Building Society’s HR team incorporated the SMCR into its way of working
- And much more