Senior Managers & Certification Regime (SM&CR)

Do you know enough about your true customer experience delivery?

For Senior Managers of FCA regulated businesses, the proposed SMCR extension, which will be finalised in the summer of 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 documents CP17/25 “Individual Accountability: Extending the Senior Managers & Certification Regime”  and CP17/40 "Individual Accountability: Transitioning FCA firms and Individuals to the SM&CR" propose 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?

More than 10 years of 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.

IIC gives you the evidence & 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.

Proof that you are customer centric

CX assessment for small to medium size organisations

CX assessment for medium to large size organisations