Compliance services

Training and competence

The Financial Conduct Authority ("FCA") requires that member firms have a structured and documented approach to the training and competence of their employees. FCA has identified five key elements for the training and competence of individuals in certain controlled functions these are:

  • Recruitment
  • Training
  • Attaining competence
  • Maintaining competence
  • Supervising competence

Senior management have a basic commitment to ensure that their firm’s employees are:

  • Competent and remain competent for the work that they do
  • Appropriately supervised
  • Regularly reviewed for continued competence, and
  • That their level of competence is appropriate to the nature of the firm's business

Axiom has adopted a pragmatic and effective approach to implementing FCA's five key elements in training and competence, allowing firms not only to fulfil FCA's requirements but also to document their compliance.

There are two ways in which the Axiom programme may be implemented:

  • Axiom will provide the firm with relevant templates and guidance notes so that it may undertake each phase for itself, alternatively
  • Axiom will implement the programme on behalf of the firm.