Approved Persons

Promontory’s Approved Persons training draws out the changes to the Approved Persons regime made by the FSA but more importantly provides insight into the FSA’s change in style and approach to Approved Persons. It assists those holding Approved Person roles recognise the FSA’s expectations of them and identify what they need to do to ensure, and evidence, that they meet their regulatory responsibilities on an ongoing basis. For those appointing into Approved Person roles, we provide guidance on the most effective and efficient approach to obtaining FSA approval. Our training is used by a number of large financial institutions including for senior executives and board members. The course is suitable for 10 to 15 delegates. The graphs below give feedback from attendees at one of our courses.

Comments included:
“Very good outline of responsibilities which can be used as a periodic checklist and reminder.”
“I found the session useful and have taken away some actions to think about.”
Senior Executive of a Large Retail Bank

Individual Practice Interviews
As former regulators Promontory’s senior staff have considerable experience in interviewing staff in regulated institutions, for Approved Person roles as well as during ARROW reviews. For our clients we provide the opportunity to prepare for a regulatory interview through undertaking a practice session which will feel very similar to the FSA’s interview. Based on our research, we focus on areas in which a candidate may feel vulnerable, current FSA priorities or concerns and firm specific issues. Our constructive feedback includes a consideration of meeting style and differing approaches; the effective use of interpersonal skills; and ways to convey a message which is meaningful to the FSA. We also identify further preparation (such as reading material, or meeting other members of the institution’s team) the candidate should undertake in advance of the interview. We have prepared candidates at senior executive, management and board level, including non-executive directors for the largest institutions. All candidates report their session with us was the most helpful element of their overall interview preparation.