Compliance Monitoring Plan Template
“This must be tailored to your business, and take into account the type of regulated activity your firm intends to carry out.” – FCA
Save Time and Resources by Using Our Expertly Crafted Annual Compliance Monitoring Plan Template
It is critically important for your company to complete a compliance monitoring plan. As part of the authorisation process for various financial enterprises, the Financial Conduct Authority (FCA) requires companies to complete a FCA compliance monitoring programme document.
“This must be tailored to your business, and take into account the type of regulated activity your firm intends to carry out” – FCA
Without assistance however, your company can waste valuable time and energy completing this document. By using our expertly crafted compliance monitoring plan template, your company can save time and resources, giving you the peace of mind that your company is in line with regulatory standards.
Our compliance monitoring plan template is easy and intuitive to use, allowing you to complete the FCA compliance monitoring plan document quickly and effectively. With our professional template, guidance, and service, you can trust that the compliance procedures of your company are in order.
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The Features of Our Compliance Monitoring Plan Template
This document is provided in a fully editable word document.
The document covers all of the areas that the FCA requires, including;
IT management and security;
High-risk activities;
Outsourcing arrangements;
Data management and security;
Operational areas;
Governance reviews;
Vulnerable customers and;
Complaints handling.
FAQ:
Is it Just a List?
No, each section has a recommended list of issues for checking and you complete the frequency. You then link to the relevant process, procedure, log required, and the activity taken.
If there are any issues complete a compliance monitoring plan event, you note this and provide details of the issue (where/what/how it was dealt with), or perhaps transfer it to your risk register if it is a larger issue?
For each section there is also a corresponding controls assessment where you can input the controls you identify and assess the effectiveness and design. There is also evidence provision and management oversight along with the level of control activity. Instructions are provided.
What’s The Catch?
There is no catch.
Like all templates when you complete a compliance monitoring plan, you have to edit and amend it to reflect your unique and individual business. Once you have identified each monitoring activity, it is the easiest thing in the world to revisit and reassess at the frequency of your choosing.
What if a Section Does Not Apply To My Business?
If any part does not apply, then you can substitute other areas you may want to include, or simply remove the section.
There is an example of a removed part and why it may be important to retain the placeholder, in the instructions at the front of the compliance monitoring plan template.
How Difficult Is It To Edit?
Not at all. If you can edit a word document, you need the same
skills to edit this to make sure it is your own.
You may also wish to keep/save a copy for each time you conduct the activity (3m/6m/12m) and build an audit trail of actions over time, providing a demonstrable monitoring activity pathway for any 3rd party who may require you to present it.
Overall, there are 16 sections that can be edited, amended, and adjusted to your precise business model.
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