Accord

1 review

Accord is an award-winning RegTech solution developed by Worksmart, specifically designed to assist financial services firms in managing the Senior Managers and Certification Regime in the UK. Built in collaboration with trade bodies and industry practitioners, Accord ensures firms can effectively oversee governance, competence, and accountability requirements mandated by SMCR. The platform also supports the Individual Accountability & Conduct Regime in Singapore and is adaptable to manage the forthcoming SEAR regime in Ireland. Key Features and Functionality: - Comprehensive Governance Management: Accord facilitates clear central record-keeping, strong corporate governance, and transparent accountability structures. - Fitness and Propriety Assessments: The platform enables firms to conduct and document employee fitness and propriety evaluations, ensuring compliance with regulatory standards. - Conduct Rules Management: Accord supports the training, recording, and reporting of conduct rules breaches, aiding firms in maintaining regulatory compliance. - Integration Capabilities: Designed to work seamlessly with existing systems, Accord can be tailored to reflect an organization's unique culture and routines. - Consumer Duty Dashboard Integration: The platform's governance and certification records provide valuable insights into individuals' competence and customer focus, feeding into firms' Consumer Duty dashboards. Primary Value and User Solutions: Accord addresses the complexities of regulatory compliance by offering a centralized, purpose-built solution for managing SMCR requirements. It streamlines processes such as responsibility mapping, certification, and conduct rules management, reducing administrative burdens and mitigating compliance risks. By providing clear evidence of governance and accountability, Accord empowers firms to demonstrate their commitment to regulatory standards and consumer protection, ultimately enhancing operational efficiency and market integrity.

Worksmart Accord

0 reviews

Worksmart's Accord is an award-winning RegTech solution specifically designed to assist financial services firms in managing the complexities of the Senior Managers and Certification Regime in the UK. Developed by practitioners in collaboration with trade bodies, Accord ensures that organizations can effectively oversee governance, accountability, and competence requirements mandated by SMCR. The platform also supports the Individual Accountability & Conduct Regime in Singapore and is adaptable to the forthcoming SEAR regime in Ireland. Key Features and Functionality: - Governance and Accountability Management: Accord provides tools to model governance arrangements, allocate prescribed responsibilities, and personalize Statements of Responsibility . - Certification and Competence Tracking: The platform facilitates the identification and management of Significant Harm Functions, supports tailored competence and Fitness & Propriety assessments, and streamlines regulatory references to assist HR teams. - Conduct Rules Compliance: Accord manages training records, monitors conduct rule breaches, and offers dashboards and management information suites for comprehensive oversight. - Integration and Customization: The solution seamlessly integrates with existing systems, reflecting organizational culture and routines, and is capable of managing multiple entities. Primary Value and User Benefits: Accord addresses the critical need for clear systems and controls to meet PRA and FCA regulations, ensuring that senior managers are individually accountable for their business decisions, conduct, and the competence of their teams. By providing a centralized record-keeping system, strong corporate governance, and clear accountability, Accord enables firms to demonstrate enhanced processes and a commitment to placing customers at the heart of their business. The platform's comprehensive features not only ensure compliance but also offer real business advantages by streamlining processes and reducing administrative burdens.