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2018 extension to Senior Managers and Certification Regime (SMCR): are you ready?

Do you know enough about your true customer experience delivery?

Management insight

For Senior Managers of FCA regulated businesses, the proposed SMCR extension in 2018 means it will become critical to know what is going on in the areas of the business for which you are responsible, and how it really feels to be a customer of your organisation. With an audit trail to prove it.

The FCA consultative document CP17/25 “Individual Accountability: Extending the Senior Managers & Certification Regime” proposes changes to how people working in financial services are regulated. Making senior people in firms more responsible and accountable for their actions, thus reducing the risk of harm to customers.

Senior Managers will need to be approved by the FCA and have a clear statement of responsibilities. Almost all employees will be subject to five conduct rules which include a requirement to pay due regard to the interests of customers and treat them fairly. Senior Managers will be subject to four additional conduct rules including requirements to ensure that the business areas they are responsible for are controlled effectively and comply with the relevant requirements and standards of the regulatory system.

Can you be confident that your departments and teams deliver consistently excellent service in line with these regulatory requirements and any customer charter or promises you make?

Customer experience assessment

More than 10 years of Investor in Customers (IIC) assessments reveal:

  • Over 70% of managers and employees rate the customer experience and service they provide higher than their customers do.
  • Senior managers give the highest rating of all - highlighting the gap between reality and the assumptions of the leadership team.


What these statistics demonstrate is the divide that can exist between the experience of customers, and the perception of employees and managers. In the context of the SMCR this divide can make Senior Managers vulnerable. After all, you can’t fix what you don’t know is broken.

Investor in Customers gives you the evidence and insight you need.

Our in-depth customer experience assessments collect feedback from customers, employees and management, to enable independent validation of your customer principles, culture and delivery. But an IIC assessment provides a lot more than simply satisfying a regulatory requirement. We interpret the insights for organisations and deliver detailed and personalised action plans for improvement.

On completion of the assessment, clients get a detailed feedback presentation and report with actionable results to move the business forward:

  • Feedback scores and comparisons between key stakeholder groups / segments.
  • An action plan prioritising the areas for improvement and the strengths to build on.
  • Benchmarking on how the business compares with other IIC clients.
  • Post-feedback support from our team, for implementation advice and guidance.


An Investor in Customers assessment can also deliver an annual accreditation in the shape of our industry-recognised IIC Gold, Silver and Bronze Awards. You will get a trophy and certificate, and digital assets to promote and celebrate your achievement both internally and externally. Most importantly your IIC Award demonstrates your on-going commitment to your customers.

reviewing customer feedback
Customer employee and manager insight

A unique methodology sets IIC apart

Our unique methodology listens to multiple voices, broken down in various ways – by geography, customer segment or by department, for example – across four key principles of great customer experience. This gives depth and dimension to the report findings to help pinpoint opportunities.

But numbers mean nothing without the detail. So, we work with you to design specific additional questions to add to our standard measures – to get the information that explains your underlying scores and helps identify key components of your action plan.

You are hand-held every step of the process with guidance throughout. We take the strain, and we do most of the work.