Complyport Specialises in providing governance, risk and compliance services

Complyport Specialises in providing governance, risk and compliance services

FCA Interview Preparation

The Senior Managers and Certification Regime (SMCR) established by the Financial Conduct Authority (FCA) requires that only fit and proper individuals are approved to perform certain Senior Management Functions (SMFs) at FCA-authorised firms. One key part of the approval process is an in-depth interview with the FCA to assess candidates’ competence, knowledge, and capability for their proposed SMF role.

Complyport understands the rigors of this critical FCA interview and can provide expert guidance to ensure you are fully prepared. With over 22 years of regulatory compliance experience, our team has in-depth knowledge of the FCA’s requirements and expectations for SMF candidates.

The FCA Interview Process

The FCA interviews SMF candidates through a potential two-stage process consisting of:

  1. An initial unrecorded interview to assess the candidate’s suitability
  2. A second recorded interview if the FCA has remaining concerns after the first

Interviews typically last 90 minutes and cover areas such as the candidate’s understanding of their SMF role and prescribed responsibilities, knowledge of the firm’s business model/strategy, awareness of key risks, and grasp of the relevant regulatory framework.

FCA Requirements and Key Competencies

Through the interview, the FCA aims to evaluate key competencies including:

– Market knowledge

– Understanding of the firm’s business strategy/model

– Risk management and control

– Financial analysis and controls

– Governance, oversight, and controls

– Regulatory framework awareness

The FCA will also assess the candidate’s leadership qualities, motivation for the role, ability to provide effective challenge, and capacity to meet time commitments.

How Complyport can assist:

Complyport offers comprehensive SMF interview preparation services tailored to your specific role and experience level, including:

– Thorough review of your application materials (CV, statements of responsibilities, etc.)

– Guidance on addressing FCA competency areas and likely interview questions

– Mock interviews with experienced former regulators to create an authentic interview experience

– Customised coaching on communication skills, confidence, and executive presence

– Briefings on current FCA priorities, regulatory publications, and industry issues

COntact us for assistance

Please fill our free consultation form and a member of our team will get in contact with you.