Will SMCR change the way managers manage?

A poorly-executed implementation of SMCR, where bureaucracy replaces trust, may inadvertently introduce tensions between employees and their managers, argues Mark Turner.

Mark Turner is a London-based managing director of the compliance and regulatory consulting practice at global advisors Duff & Phelps (www.duffandphelps.com/our-team/mark-turner).

The financial sector is still trying to grasp the broader implications of the Senior Managers and Certification Regime. ‘Do working relationships need to change?’ is a question being asked in the sector. With roles, reporting and responsibilities more rigidly defined under the new regime, it’s likely that interpersonal relationships among co-workers will be put to the test as employee conduct and competence in financial services comes under greater scrutiny.