Governance and Individual Accountability

Governance and Individual Accountability
Governance and Individual Accountability


There is continued pronounced regulatory focus on the importance of transparent, sound and robust governance arrangements, to ensure positive outcomes for end consumers, to prevent market abuse and for the wider stability of financial markets. This supervisory ‘pressure’ has triggered a range of initiatives at our clients with the aims of putting in place an ‘approvable’ governance framework and demonstrably strengthening governance arrangements and practices. Protiviti has significant experience and expertise in assisting many types of financial services organisations in all aspects of governance and individual accountability including:

  • Effectiveness review of governance arrangements
  • Review of organisational and risk culture and formulation and implementation of improvement plan
  • Design and implementation of governance framework
  • Board effectiveness reviews
  • Assurance reviews and training around Senior Managers Regime (SMR), Senior Insurance Managers Regime (SIMR), Certification regime (CR) and Approved Persons Regime (APR)
  • We have been appointed to the Skilled Person Panel for Governance and individual accountability

Work we have undertaken:

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Effectiveness reviews of governance arrangements

We have assisted a number of clients in evaluating the effectiveness of their system of governance, assessing whether they are fit for purpose in relation to the nature, scale and complexity of business operations.

Training and Assurance reviews around SMR, SIMR and CR_114x190

Training and Assurance reviews around SMR, SIMR and CR

Our approach to providing assurance around ongoing SMR compliance covers multiple considerations including, accountability, culture, individual behaviours, training, performance management, remuneration, conduct risk and management information.

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Board effectiveness reviews

We have conducted numerous Board effectiveness reviews within most industry segments across Financial Services.

Organisational and risk culture reviews_114x190

Organisational and risk culture reviews

We have worked extensively with both Internal Audit and compliance teams in assessing the culture of their respective organisations, We look at how the ‘tone at the top’, the ‘tone at the middle’ and the ‘tone at the bottom’ is articulated, communicated and reinforced.