SMCR Specialist

Purpose of the role

As a Senior Manager and Certification Regime (SMCR) Specialist, you will provide guidance across all areas of the business and Senior Management Functions in relation to more complex SMCR related regulatory matters and communications with the PRA and the FCA.

You will support the SMCR Lead, Chief Risk Officer and SMFs in managing the relationship with the regulators. You will also ensure good governance around the interaction with the regulators.

You will provide second line oversight and support to the People team in relation to SMCR. Additionally, you will work collaboratively with the Company Secretariat (CoSec) on a regular basis.

As SMCR Specialist, you will provide regulatory engagement support, advice and appropriate second line oversight in relation to all PRA and FCA regulated entities in the Nucleus Financial Platforms Ltd group.

Competency Framework

Managing relationships

• Authorised to engage with the regulators in relation to manage SMCR related deliverables and expectations on a ‘whom failing’ basis or when delegated by the SMCR Lead.
• Build and maintain effective working relationships both internally in Risk & Compliance and across the wider business – particularly with the Senior Management, CoSec and People team plus other key stakeholders.
• Represent the SMCR team as SME for appropriate working groups and committees, provide second line challenge and advice to the business regarding regulatory SMCR requirements and responses.
• Collaborate with the People team and CoSec to ensure SMCR related applications and certification updates are submitted in an accurate and timely manner.
• Provide training, guidance and work collaboratively with the SMCR co-ordinator and People Partners to ensure the SMCR framework is fully embedded.
• Provide support to the SMCR Lead, CRO and other SMFs to assist with closing project specific actions which have SMCR related impact.

Responsibilities

Regulatory interaction

• Support the SMCR Lead by coordinating responses to regulatory approval requests following submissions via the FCA’s Connect system. Own each application sent and follow through to completion.
• Support the CRO, EAs and SMCR Lead to manage PRA/FCA engagement in relation to SMCR and SMFs fulfilling their regulatory obligations. This can involve email interactions, calls with the regulator(s) and if required, site visits.
• Scribe for regulatory meetings which have an SMCR related impact and circulate meeting notes with relevant members of the Senior Management team.
• Ensure that actions set out by the regulators (e.g. as a result of the aforementioned regulatory meeting) are documented and delivered by the Group within the expected timescales.
• Manage and/or provide oversight of new applications submitted to the regulator(s).

SMCR

• Support the SMCR Lead with delivery of SMCR Project and SMCR framework enhancement
• Support SMCR Lead with internal SMCR audit and Nucleus projects
• Work collaboratively with the People team to ensure SMCR-related applications and Directory updates are concise. Provide informed advice or feedback where changes or improvements are required.
• Demonstrate strong technical knowledge of rules and guidance of SMCR.
• Ensure maintenance and record keeping of all SMCR documentation e.g. Policies, procedures, Statements of Responsibility, and guidance documents for staff.
• Ownership of the Group MRM:
• Collaborate with the People team and CoSec where required and ensure all updates captured.
• Ensure MRM is prepared for sign off as part of monthly ExCo meetings and submitted for noting at quarterly Board cycles – MRM to be submitted in ExCo/Board packs in advance.
• Ensure any feedback or changes from ExCo or the Board are reviewed and where required, implemented ahead of the next monthly iteration.
• Validating the identification of Certified employees and Material Risk Takers. Supporting the People team where required.
• Monitoring SMF attestation completion.
• Monitoring L&D plans and Handover documents for the SMF population – process owned by the People team.
• Carrying out reconciliation exercises to ensure the FCA register, Internal registers and Company’s House records are in alignment.

Skills and working

• Demonstrate effective decision-making.
• Demonstrate ability to work pro-actively using own initiative.
• Consult with the SMCR Lead as needed to resolve more complex issues.
• Identify weaknesses or inefficiencies via oversight and suggest improvements in a constructive and collaborative way.
• Provide change/project support from an SMCR perspective where required.
• Alongside the wider Risk & Compliance teams, demonstrate, promote and help maintain a positive regulatory risk and compliance culture.
• Provide accurate and timely SMCR advice on queries and activities across the business.
• Attend incident meetings as and when required, focussing on whether there is any SMCR related impact and whether any regulatory notification is required and managing that notification.

Maintaining operational and company standards

• Promote the best interests of the group at all times.
• Support the organisation’s goals.
• Positively demonstrate the Nucleus Smart, Heart and Courage values and behaviours.
• Ensure compliance with Code of Conduct at all times.

Team working

• Team player sharing ideas to enhance cross-team learning and business development.
• Support the team’s efforts to succeed.
• Balance team and individual responsibilities.
• Exhibit objectivity and openness to others' views.
• Provide support and cover for the SMCR Lead and other Compliance team members.

Personal effectiveness

• Flexible to change, eager to improve and develop new skills.
• Strong communication skills, using appropriate language and style of communication that is relevant to the situation and circumstances.
• Reliable, organised and with effective time management. Able to manage several, often conflicting, priorities at once.
• Active personal improvement to gain the necessary knowledge, skills and expertise to develop ongoing competence in a technical role.
• Optimistic and upbeat with a flexible, adaptable and proactive ‘can do’ approach.
• A solution-giver and problem-solver, working to overcome blockers and enabling the business at every opportunity.
• Display perseverance and take ownership for workload.
• A self-motivator who actively seeks out work.

Skills, knowledge and experience

• At least five years’ experience in financial services
• At least two years SMCR experience
• Strong technical knowledge, of SMCR and the appropriate sections of the FCA handbook as applicable to our business (in particular, SYSC and COCON) and an ability to apply this appropriately.
• Competency in relation to the PRA’s application of SMCR for Solvency II firms.
• Proven experience of operating effectively as an influential, competent and business-enabling compliance professional in a regulated environment.
• An ability to find, analyse and apply the relevant regulatory rules as and when required.
• Excellent PowerPoint/Word/Excel skills.
• Effective interpersonal and influencing skills.
• Well-developed analytical and problem-solving skills.
• Experience of operating within a company that has experienced rapid growth.
• Strong written and verbal communication skills.
• Excellent attention to detail.
• Able to prioritise the high impact work when working with short or changing deadlines, without impacting quality or accuracy.

Regulatory requirements

In addition to the responsibilities set out in this job description, the individual performing this role must also adhere to the policies and procedures in respect of Nucleus Financial Platforms Group.

You are also required to comply at all times with the FCA’s Code of Conduct, namely:

• Rule 1: You must act with integrity.
• Rule 2: You must act with due skill, care and diligence.
• Rule 3: You must be open and cooperative with the FCA, the PRA and other regulators.
• Rule 4: You must pay due regard to the interests of customers and treat them fairly.
• Rule 5: You must observe proper standards of market conduct.
• Rule 6: You must act to deliver good outcomes for retail customers.

A little about us

We are the Nucleus Financial Platforms group and we help make retirement more rewarding. Here at Nucleus, people come first - whether it’s our colleagues, or the advisers and customers we support, we know that working in partnership and collaboration leads to the best outcomes. Together, we’ve shaped the platform to how it is today. We work hard, and we celebrate hard too.

Our ambition is to create a platform with a difference, putting the customer centre stage meant tearing up the rule book and starting from scratch. We’ve come a long way since then, but our mission remains just as focused. That’s why our culture, values, and social responsibility are things we keep at the top of our agenda – because we know they matter and have a big impact.

Our culture is one of the many things that sets us apart from the pack. We want to have an environment where our people feel that they can make a real difference, know they’ll be rewarded for their efforts and more importantly, enjoy themselves at work.

Are we a perfect match? Check out this video and find out!