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Risk Management Industry News for FCA Regulated Businesses

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Risk Management, Secret Diary of a Risk Manager

Secret Diary of a Risk Manager: Entry 4 - What are you doing, if it’s not risk management?

This week, our newest Risk Analyst, James, has completed his Management of Risk Foundation qualification and is full of enthusiasm for the subject. He joined us as a graduate and has spent the first six months supporting our highly manual, monthly...

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Risk Management, Secret Diary of a Risk Manager

Secret Diary of a Risk Manager: Entry 3 - It’s time for a chat with HR about hiring practices.

This week my meeting of note was with the HR Director. 

The irony of my meeting with her, a newly appointed ​interim​, to discuss how we ensure continuity of risk knowledge in our firm’s hiring practices hasn’t been lost on me. She’s been in post for...

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Financial Crime

Criminals use social media as a fast track for fraud

When it comes to fraud, social media is a double-edged sword. It’s a useful tool in the fraud investigator’s armoury, but in far greater numbers, criminals are finding it a quick, easy and anonymous route to ensnare their victims.

In recent weeks, the...

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Risk Management, Secret Diary of a Risk Manager

Secret Diary of a Risk Manager: Entry 2 - So, you’re going to manage my risks then?

It’s been another challenging week fighting the “who owns your risk?” battle, trying to persuade a senior manager to take ownership of their risks.

First thing on Tuesday morning I found myself sat with the newly appointed Head of Security. It didn’t...

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FCA, Payday Lenders

Does the demise of QuickQuid signal the end of Payday Loans?

Last Friday saw the collapse of the UK’s largest payday lender QuikQuid, following a raft of customer complaints and compensation claims. The company announced it was quitting the UK market “due to regulatory uncertainty” with the business owners...

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FCA, SM&CR

Final call for Senior Managers ahead of SMCR deadline

Time is running out to prepare for the Senior Managers and Certification Regime (SMCR), which will be rolled out across the financial services sector from 9 December, raising standards and introducing new levels of accountability.

It will see a...

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