Bitesize webinar: Establishing a robust prudential monitoring framework

Date: 20 November 2024

Format: Recorded Webinar

Date: 20th November 2024

Time: 12:00 pm - 12:30 pm 

Hosted by: Jonathan Aseervatham and Harpartap Singh

This webinar has now passed and will be available to watch on demand in the coming days. The recording of this webinar will be relevant for all regulated businesses. 

Cosegic is pleased to introduce the third in our new series of Bitesize webinars. These webinars will be 30 minutes long, making them perfect for lunchtime learning. The aim of the Bitesize series is to take one particular regulatory topic and examine it in greater detail to provide insightful and practical guidance.

The team will deliver a 25 minute presentation followed by 5 minutes of questions from the audience. We will ensure that we respond to all questions after the webinar if we are not able to answer them all during the 30 minutes.

 

What this webinar covered

Financial resilience has always been a key focus area for the FCA’s supervision of investment firms. However, with the grace period following the implementation of the IFPR now well and truly over, the FCA expects all investments firms to maintain adequate financial resources at all times, not just when reporting on their financial position through periodic RegData returns.

We have seen an increasing number of firms be challenged by the FCA where they have failed to identify breaches in a timely manner. On notification to the FCA, these firms have found themselves under increased scrutiny in respect of the adequacy of their ongoing monitoring of their financial resources, as well as further scrutiny of their governance and risk management arrangements.

Beyond understanding the ‘point in time’ position the expectation is that firms are able to form a clear view of their forward-looking position. Formalising processes and defining clear escalation routes and recovery actions are a key pillar of any Prudential monitoring framework. This webinar outlined the key principles underpinning a robust prudential monitoring framework and is applicable to all regulated businesses.

Agenda

  • The importance of Prudential monitoring
  • Risks and Requirements
  • Setting appetites, triggers, and thresholds
  • Point in time vs. forward looking assessments
  • Escalation routes, recovery actions and FCA notifications
  • Q&A

Speakers

Jonathan Aseervatham - Director, Prudential Services

Jonathan is a Director of our Prudential team, where he specialises in helping our clients to assess their regulatory capital and liquidity requirements; to implement IFPR including developing ICARAs and wind down plans; and to assist with their regulatory reporting obligations.

Harpartap Singh - Managing Director, Prudential Services

Harpartap Singh is responsible for the development and expansion of Cosegic's prudential services offering and client service delivery. He has substantial experience helping firms manage their prudential regulatory obligations, including investment firms' ICARA and banks' ICAAP and ILAAP reviews; SREP remediation; REGDATA reporting; recovery and resolution plans; wind down planning; regulatory capital restructuring; and M&A due diligence. Whilst he has substantial experience helping firms across all sectors to comply with their prudential regulatory obligations, his particular strength is helping investment firms and credit institutions.

Jonathan

Jonathan Aseervatham

Jonathan is a Director of our Prudential team, where he specialises in helping our clients to assess their regulatory capital and liquidity requirements; to implement IFPR including developing ICARAs and wind down plans; and to assist with their regulatory reporting obligations.

Contact Jonathan

Related resources

All resources
iStock 486530768 Article

Operational Resilience: regulatory guidelines for critical third parties aim to avoid systemic disruption

iStock 1160915536 Article

Multi-firm findings for the payments industry – is Consumer Duty a cause for concern?

iStock 1091687624 Article

The FCA cracks down on illegal finfluencers…again!

iStock 1145755328 Event

Webinar: FCA Safeguarding Consultation – unpicking the key changes