Preparing for FCA and PRA Supervisory Visits

Workshop overview:

For many firms, knowing that a supervisory visit is coming up can be very stressful, with senior executives feeling pressure across all sectors. Regulators have focused their attention on the leaders of financial firms and, particularly, how they have responded to Covid-19’s impact and the new Consumer Duty regulation.

Many executives have already experienced this increased rigour, some very publicly. Firms must be prepared for:

• individuals to be held to account
• senior managers to understand and fulfil a ‘Duty of Responsibility’
• parent companies of regulated subsidiaries to face stricter controls
• judgement-based supervision means it’s harder to predict regulator behaviour
• the repercussions of compliance failures are more severe.

Surviving a regulator’s visit is now more difficult than ever, but with expert insight and smart preparation, you can make it much easier.

Delegates will return to work with a much clearer understanding of which systems and processes need their attention, allowing them to allocate valuable time and effort more efficiently.

Learning outcomes:

By the end of this workshop, you will be able to: 

• determine how ready your firm is for an FCA/PRA visit/interview
• learn what you can expect from the interaction (including actual questions asked)
• anticipate who in your firm is most likely to be interviewed
• predict what client activities you may want to monitor
• understand current “hot topics” and how they will influence a visit
• prepare for questions the regulators are likely to pose.

Interested in taking any of our workshops in-house

Whether you are seeking to upskill your team, enhance productivity or foster a culture of continuous learning, we can deliver customised training programmes designed to meet your specific needs. If you have an enquiry, you can complete the in-house form and our training team will be in touch with next steps.