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HR software for financial sector firms

HR software to help you comply with the SMCR

Providing employees, line managers and your HR team with a single secure portal to create statements of responsibility, manage your certification process, and document compliance through the employee lifecycle.

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Mitigating risk and demonstrating compliance throughout the employee lifecycle

Ciphr’s software helps you comply with the requirements of the Senior Managers and Certification Regime (SMCR) at every stage of your employee lifecycle – providing comprehensive tools to help you simplify and automate processes, mitigate risk, and record and report on compliance.

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Single secure system for all your HR and SMCR compliance needs

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Central hub for SMCR information for line managers and stakeholders

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Gain clarity about which individuals are responsible for specific activities and functions

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Automated workflows ensure the correct process is followed every time

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Point-in-time reporting and dashboards make it easy to track compliance

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Secure, cloud-based solution

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Creates a full, auditable history of your compliance activities

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Helps you manage SMCR breaches swiftly, creating a history of actions taken

How HR software works in the financial sector

Dudley Building Society enabling their staff

Dudley Building Society needed an HR system that would support its growing HR department’s ambitions and would enable staff to manage their own HR data.

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“To comply with the SMCR, we have to be able to assess the fitness and propriety of all our people, and make sure that we have the right record keeping around that. Ciphr helps us collate and check that information.”

Software features

Senior managers regime

Assign senior management functions (SMFs) and associated responsibilities

Creates full auditable history of an individual’s responsibilities and function/s

Dashboard view shows holders of SMFs and responsibilities assigned to them

Step-by-step wizard makes it easy to assign SMFs

System warns you if a responsibility is to be shared by more than one individual

Choose to generate a statement of responsibility (SOR) automatically based on a template you have loaded into Ciphr, or to upload an SOR

Individuals are required to digitally accept or reject SMFs and SORs

Ciphr records the date the SMF and responsibilities are assigned, creating a full, auditable history

Satisfies the SMCR’s requirement that you have systems and processes in place to report on anyone who holds an SMF and all the responsibilities they hold, at any point in time

Certification regime

Assign job roles to one or more certification functions as appropriate

Establish a ‘fit and proper’ check workflow

Choose to give responsibility for ‘overall sign off’ to employees’ line managers, or to a single nominated individual in your firm

Record notes against the fit and proper check if required

When an individual is certified, Ciphr will automatically generate a certification document based on a pre-loaded template

Dashboard view enables you to see all individuals who hold specific certification functions, within a selected date range, and download certificates

Attestation records can be stored against individual check records, creating a full, auditable history

Automate alerts to ensure certificates are renewed in plenty of time

Seamless HR-payroll data integration

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Regulatory reference requests

  • Manage requests from other firms for employee references
  • Portal is accessible via the internet
  • HR teams are alerted to the request within Ciphr, including submission date, current status, action date and expiry date
  • Approve the request to generate a document that is populated with data held in Ciphr, or manually upload a document
  • One-time access link is sent to the requester by email, enabling them to access the appropriate regulatory reference in a secure portal
  • Future reference requests for the same person are flagged to HR admin users, enabling you to re-send the same information

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Breach management

  • Record, manage and track SMCR breaches securely and efficiently with Ciphr’s HR case management tools
  • Define custom workflows
  • Store correspondence records and supporting documents against each incident
  • Restrict access to sensitive cases
  • Dashboard view shows incidents at a glance
  • Automatic notifications alert users to updated correspondence and required actions
  • View each case’s historic timeline of actions

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Succession planning

  • Visualise top talent by inputting performance and potential ratings, which feed into a nine-box grid
  • Identify and build talent pools for business-critical roles
  • Auto-populate talent pools based on a role’s direct reports, or add employees from elsewhere
  • Manually specify a person’s readiness for a new role
  • See detailed performance rankings, flight risk status, and performance results

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Administration

  • In-built organisational chart automatically updates when a role is changed or a starter/leaver is recorded in Ciphr
  • Integrate Ciphr with an electronic signature application such as Adobe Sign so employees can ‘sign’ documents instantly and without the hassle of paper
  • Choose to integrate Ciphr with our learning management system, to bring all your training and development activity under one roof
  • Dashboards and reports also help you manage employee data in line with GDPR requirements