Smooth SM&CR Transition
During periods of transition, for example where roles change, Senior Managers join and leave the firm, organizational restructuring – SM&CR arrangements will need specific attention.
Incoming Senior Managers are increasingly asking firms questions around SM&CR accountabilities and mechanisms firms have in place to support them, often ahead of signing a contract. Robust SM&CR arrangements are therefore becoming a necessity for firms that want to attract the best talent to the most senior roles.
We believe that taking time to assess all areas for which they are accountable, identifying gaps and starting to take steps to remediate them Firms should have processes in place to support both outgoing and incoming Senior Managers during this transition.