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On The Panel – Oliver Wyman
In April 2013 (and for four years), alongside the creation of the FCA, FSMA Section 166 (known as s166 review, skilled persons report or SPR) was amended to allow regulatory bodies to directly appoint a skilled person of their choosing to go in to a firm, giving the FCA end to end control of the process and leading to the possibility of a huge bill for the company depending on who is chosen.
Compliance Consultant were appointed as Skilled Persons in 2012 and understand the process and often see the mistakes made by false beliefs of firms regarding the work involved. We specialise in working for you in project managing the process in as much or as little detail as you want. We can work on fixed fees if required.
At Compliance Consultant we offer the service of project managing the entire process for you from initial selection of a Skilled Person from the panel, using our experience (having white-labelled for many of the firms) and reputation of the firms from working in that arena. Some firms profess to be experienced in these areas with statements like “… have a number of FCA endorsed compliance experts” or “… our consultants work closely with the FCA” or even “… we have a panel of FCA qualified advisers“. These are typically recruitment agencies who dabble in compliance consultancy.
We provide FAQs for you HERE
In these posts we will introduce you to some of the leading panel firms that deal with S166 and S166a work – no hype, just their own words introducing themselves.
“Oliver Wyman’s Financial Services practice helps the world’s leading financial institutions address their most significant challenges to shape the future of the industry. We have an unparalleled understanding of the evolving market structures, economics, and strategic and regulatory trends across all segments of the financial services sector. Our distinct approach is characterized by deep specialization and rigorous fact-based analysis.
RETAIL & BUSINESS BANKING
Oliver Wyman’s Retail & Business Banking practice advises leading banks, credit institutions, payments companies and investments firms around the world in shaping and implementing business strategies aimed at serving consumer households and small and medium-sized businesses.
Key Areas of Insight
- Consumer and SME banking strategy
- Credit and deposits – strategic pricing, product management and innovation
- Information-based decision analytics
- Sales performance and channel management
- Credit process, collections and loss management
FINANCE & RISK
Oliver Wyman’s Finance and Risk Practice provides leading financial institutions with custom solutions covering all aspects of risk management, including its application to financial management. Decades of work with the world’s top 100 financial institutions have given us a unique global perspective on the challenges they face.
Key Areas of Insight
- Risk quantification, policies and processes
- Capital, funding and balance-sheet strategy
- Accounting analytics, policy and implementation
- Regulatory compliance
- Organisation design and governance”
Reference S166 & S166a
This Company Do Not Have Any Specific Information On S166 Reviews In The UK.