REMUNERATION POLICY

From Q3 2009, in order to mitigate exposure to risk, remuneration policies were to be in place that ensured pay was in line with the complexity and risk exposure of certain financial institutions.

An update to this was implemented in January 2011, however, TCC has found there is still confusion around this requirement, with some firms yet to implement a policy. As such we have sought to make the process as simple and yet robust as possible in order to help you.

Remuneration Policy applies directly to around 2,500 firms including banks, building societies, the majority of hedge fund managers and many other financial services firms, however, the FSA encourages all firms to review their compensation policies against the general requirement and principles.  It applies not only to bonuses and incentives but to all aspects of remuneration which could affect risk management, including salary, incentive plans, pensions and severance payments.

If you are concerned about your remuneration policy please contact us and we will be happy to help guide you through to completion of a vigorous policy. For more information, please call us on 020 3008 6020 or email info@theconsultingconsortium.com