Toolkit for the Assessment of Competence of FSA-Approved Persons [pdf file]for use by FSA registered firmsby Greg Pritchard
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(Digital Format Help) Description of Toolkit for the Assessment of Competence of FSA-Approved PersonsThe FSA Sourcebook requires regulated firms to review the competence of Approved Persons (T&C 1.2.1) on a regular basis and many firms attempt to do this annually.This 'Toolkit for the Assessment of Competence of Approved Persons' is a simple, work-based and easy to administer method of assessing an individuals competence as an Approved Person and identifying professional development opportunities. The approach is based on a benchmark standards methodology and involves individuals using a series of Assessment of Competence Schedules to assess their own level of competence in their jobs and checking this against their line managers assessment of their competence. Development opportunities arise where there are differences between the assessments of competence and we have found, with clients who have adopted our approach, that the satisfactory completion of these development activities leads to positive commercial benefits including improved levels of client service. The three elements of the Assessment of Competence Schedules, performance criteria (competences), knowledge and skills, are based on a typical job specification for each role. They have been established by considering what attributes a person requires in order to be able to carry out the Approved Function competently and without supervision. The Toolkit includes Assessment of Competence Schedules for the following Approved Functions: Director (CF1) Non-Executive Director (CF2) Chief Executive (CF3) Apportionment & Oversight (CF8) Compliance Oversight (CF10) Money Laundering Reporting (CF11) Finance (CF13) Risk Assessment (CF14) Internal Audit (CF15) Significant Management Settlements (CF20) Investment Adviser (CF21) Corporate Finance Adviser (CF23) Customer Trading (CF26) Investment Management (CF27) Title Information
Write a review of this book About Greg PritchardThis Toolkit has been developed by CPAAudit UK, an independent consultancy based in The City, that advises on Regulatory Compliance, Internal Audit, Risk Management and Corporate Governance issues. Information about the firm can be found at www.cpaaudit.co.uk |
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