Preparing for the FSA ARROW review

Ensuring a successful outcome

Directors and senior executives whose companies are regulated, seeking authorisation or newly authorised by the FSA, and need to ensure compliance in advance of Arrow visits.

• Insight into the purpose of the FSA's supervision.
• An overview of the FSA's key areas of interest.
• Understanding of the importance of an Arrow visit.

You will also learn how to plan for the visit, and how to:

• identify possible areas of weakness
• construct risk profiles
• anticipate and respond to questions
• obtain consensus on the way systems and controls operate
• improve the chances of obtaining a successful outcome.

Raj Gandhi, FCCA, FCT. Formerly a finance director of a regulated financial services AIM listed company, Raj is able to provide a hands-on as well as board level perspective on dealing with the FSA ARROW reviews. Raj is an independent consultant and a freelance trainer for the IoD and the ACCA. He sits on the ACT exam board and on the risk and audit committee of the University of West London. He is also a visiting lecturer for the University of Hertfordshire.

• Understanding the purposes and approach of the Arrow visit.
• Examining recent changes in the style of supervision.
• Managing the visit: senior management buy-in, assigning high priority and committing resources; issues to focus upon.
• Pre-visit preparation: awareness and communication; FSA's document request; interview preparation; management of weaknesses and information.
• During the visit: administration; record keeping; interview technique; communication and debrief.
• End of visit: close out meeting; risk mitigation programme; debrief - what went well and lessons learnt.
• Next steps: timing of any follow up; understanding the messges in the risk mitigation programme; the Arrow letter; plan of action for addressing issues; progress reports.

6 CPD hours (where applicable)

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