What would the regulator think about your firm’s training and competence policies? This course helps you meet and maintain expected standards.

Compliance failures are often put down to staff incompetence. High profile cases have uncovered chief execs operating with no knowledge of the latest regulation. The FCA has sharpened its focus on training and competence (T&C) as a result.

You must be able to prove (to an intrusive regulator) that your T&C policies mitigate risk and promote professionalism.  

This is about more than just compliance, it’s about genuinely improving standards. A good T&C programme helps your firm retain its best staff and attract new talent. A poor one can expose your business to accusations of misconduct and financial penalties.

With limited guidance from the regulator, establishing a robust framework is a challenge.

The Course Agenda

The impact of higher standards of professionalism

• How new standards affect advisers, supervisors, SIFs and information givers
• Evidencing competence and improving ethics
• Setting standards for continuing professional development (CPD)

Demonstrating competence in a changing regulatory environment 

• Competence in a post RDR world
• Identify the key elements for an effective Training & Competence framework
• Investing in skills development

Reviewing policies and identifying improvements

• Which elements of your T&C regime need to change?
• Are current key performance indicators fit for purpose?
• Exercise – Self assessment of your T&C regime

Ensuring competent supervision

• Understanding the regulator’s expectations
• What “good” looks like in practice
• Competence requirements for supervisors
• How to assess a supervisor’s competence
• Case study – Supervisor competency assessment

New CPD requirements: rising to the challenge

• Establishing a CPD policy and allocating responsibility
• Top tips for aligning CPD with your business strategy
• Exercise – Understanding what counts towards CPD hours

Statements of Professional Standing (SPS)

• An overview of accredited bodies
• Obtaining and renewing SPS on a continuous basis
• Recognising eligibility criteria
• The repercussions of failure to obtain SPS

Understanding the FCA’s approach to T&C

• An intensive approach to training and competence
• Looking for clues in the Risk Outlook