Chapter 2 - Supervisory Principles And Practices Flashcards Preview

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Flashcards in Chapter 2 - Supervisory Principles And Practices Deck (13)
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1

Approved Persons

Requirements

SOPI SOC

Skill care and diligence
Open and cooperative with regulator
Proper standards of market conduct
Integrity

Plus for SIF
Skill care and diligence in managing
Organisation and control (eg clear reporting lines, KPI, responsibilities)
Compliance

2

Senior management responsibilities and certification

What?

When?

March 2016
Banks building societies
Dual firms
Smr will replace SiF . Everyone needs to certificate in their role if in Significant Harm Function

3

SYSC

Numbers and purpose

SYSC 1 - application and purpose

SYSC2 - senior management arrangements

SYSC3 - systems and controls

SYSC4 - general organisational requirements (roles, resps, structure, reporting)

SYSC5 - competent employee rule

SYSC6 - compliance, internal audit, financial crime

SYSC7 - risk controls

SYSC9 - record keeping

4

Training and competence

MR CASTN

Maintaining competence
Records

Competence and how assessed
Appropriate qualifications
Supervising
Training
Notification requirements

5

Strategic planning

ACI?

Analysis (situation)
Internal environment
External environment
Competencies

Choices (options)
Legal
Ethical
Stakeholders
Stretch or fit?

Implementation
Manage change
Organise
Enable

6

Planning tools

Name FIVE

Main purpose of each?

Ansoff Matrix - growing a business

Boston Matrix - cost allocation

SWOT - broad analysis of strengths and weaknesses

PEST - external factors and change

Customer Matrix - focus on customer needs/values

7

Ansoff Matrix

TO THE RIGHT MARKET IN THE RIGHT WAY

Market penetration
Eg efficiencies, scaling, marketing spend, reward/ incentive scheme

Product development

Market development
Eg affinity relationship with trade union or student group? New vectors to market - online? Move overseas?

Diversification HIGH RISK
Eg move to connected market (legal services? Accountancy?)

8

Boston Matrix

Cost allocation
Best use of resources

STAR. CASH COW
QUESTION MARK. DOG

9

SWOT

Balanced view
Leverage strength
Turn threats to opportunities

STRENGTHS. WEAKNESSES
OPPORTUNITIES. THREATS

10

PEST

Political

Environmental/economic

Social

Technological

11

Customer Matrix

Focus on customer needs/values
Visual format
Benchmark against competitors

12

McKinsey Seven S

Super ordinate goals

Structure

System

Style

Staff

Skills

Strategy

13

Kotter 8 steps to lead change

Establish sense of urgency

Form powerful guiding coalition

Create a vision

Communicate vision

Empower others to act

Plan short term wins

Consolidate improvements

Institutionalise improvements