Prudential Requirements for Investment Managers: Getting Your ICAAP Right

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“The ICAAP should be a risk management tool used by the firm/group to inform business decisions; it should not be treated purely as a compliance exercise.”

“A significant number of firms submit [prudential] returns that contain inaccurate and/or incomplete data”

- FCA Dear CEO letters (Prudential Approach for IFPRU investment firms, Quality of Prudential Returns)

Increasingly, the FCA is unhappy with the quality and content of the ICAAP documents that it reviews. As a result, it imposes Individual Capital Guidance, meaning that in some cases firms are forced to double the amount of regulatory capital that they hold. So it is vital that firms get their ICAAP right first time. This training session will assist you in ensuring that your ICAAP covers all relevant areas and that you document your approach to the standard expected by the FCA.

Who should attend

Senior Managers
Risk
Finance
Compliance
Legal

Please see below for a full overview of the session.

Speakers

Harpartap Singh

Head of Prudential Services, Bovill

Key Learning Objectives and Course Outline

Key learning objectives

At the end of the session, participants will be able to:

Understand what drives their capital requirements
Have deeper insight into the ICAAP review and how to avoid capital add-ons

Course outline

Importance of correctly classifying a firm based on its permissions
What drives Pillar 1 capital requirements
Common mistakes in capital calculations
Key elements of an ICAAP review and report, with a particular focus on risk management framework and stress testing
How to avoid common mistakes in ICAAPs as identified by the FCA
Disclosure expectations under Pillar 3
Proposed changes to capital requirements

Prices

Standard members' rate: £375 + VAT

Standard non-members' rate: £500 + VAT

Cancellations and refunds

Any cancellation must be made in writing. For any cancellation received 15-30 days prior to the course start date, 50% of the course fee is still payable. No refund is given for a cancellation made 14 days or less prior to the commencement of a course. Transferring from one course to another is treated as a cancellation. You can substitute one delegate for another at no additional cost. In this instance, please give two business days’ notice.