Performance For All - Financial and Insurance Services
The latest round of regulatory change in financial services has brought performance management into even sharper focus as an essential vehicle for cultural change. The new Senior Insurance Manager Regime (SIMR) and the extension of the Approved Persons Regime in banking have at their heart the establishment of clearly demarcated roles and responsibilities underpinned by a process that ensures proper oversight and control from the top. For those firms who employ direct sales forces, the FCA guidelines on performance management must also be top of mind whilst the requirements of the Remuneration Codes for Material Risk Takers also call for unprecedented clarity in objective setting and goal alignment. Against this background of unprecedented regulatory oversight, performance management must evolve to go beyond mere compliance, to a process that empowers managers to manage and which enables all staff to feel motivated and valued. The regulator has said that support functions must work together to find the right solutions and yet those very professionals in HR, Compliance and Risk are all too often snowed under with a mounting workload and diminishing resources to give this priority the attention it so clearly needs.
Simitive's Living Review is a tried and tested solution that is proven to help drive cultural change and we are now ready to expand the solution into the financial services sector. Working together to fine tune the Simitive solution to meet the needs of banks and insurance companies, members can take advantage of our experience and tools to adapt their performance management process to meet the regulatory challenge head-on, applying our SAAS solution on a targeted or firm-wide basis as appropriate based on a shared investment fee. So if you are interested in participating, then get in touch via the link below and become part of our Performance for All forum in Financial Services.