Q&A with FCA expert Victoria Sena: Ciphr to release 20 new FCA compliance eLearning courses
Ciphr Group is known across the UK and Ireland as a trusted provider of engaging eLearning courses, ranging from diversity and inclusion to compliance. Ciphr is always keen to update and create new, relevant courses so that their clients can stay up to date with the latest industry and legal requirements.
Below, subject matter expert (SME) Victoria Sena, Founder of Cherrybank Consulting, gives us an insightful overview of Ciphr’s new FCA compliance training online courses, and why this type of training is of paramount importance for organisations of all sizes.
“Firms constantly have to adapt to the changing regulatory environment. FCA compliance eLearning from Ciphr is here to help”
Victoria, can you tell us more about the new suite of FCA compliance eLearning courses you’re currently working on?
Sure, I’d be happy to. I will be adding 20 new courses to Ciphr’s compliance offering. These include:
Consumer Duty and SMCR – the Consumer Duty comes into force on 31 July 2023 and will have important consequences for the Senior Managers & Certification Regime
Regulators Introduction – a series of courses introducing the main financial regulators, notably the Financial Conduct Authority, the Bank of England and The Pensions Regulator
Risk and Risk Management – a risk series that will explore topics like operational risk, financial risk, conduct risk, communications and gifts and inducements
Spotlight on Regulations Series – a series exploring key financial regulations such as the UK AIFMR, UK EMIR, the Insurance Distribution Directive, Solvency II, and the MiFID Framework
Sustainability – a course on Sustainable Finance and Greenwashing to complement Marshalls’ existing training content about climate change
I will also be updating several existing courses to reflect the Consumer Duty, including the Vulnerable Customers and Treating Customers Fairly courses.
If you have a course you would like Ciphr to consider creating, please get in touch.
Why should firms turn to specialist eLearning providers for support with compliance training?
The most important resource for an organisation is its people. Training not only empowers and enriches employees, but also improves productivity as individuals grow their knowledge and skillsets. The compliance topics offered by Ciphr will be suitable for people new to the financial industry as well as those more experienced. The financial landscape is always changing thanks to new regulations, technology and the macroeconomic environment, and that requires firms to constantly adapt.
As a bonus, all of Ciphr’s courses contribute to an individual’s continuous professional development (CPD) requirements. While some regulations such as the Insurance Distribution Directive require staff to complete 15 hours of CPD per year, financial advisers must complete 35 hours, 21 of which must be structured.
What is your background and expertise in the area?
I have a bachelor’s degree from Oxford University and a master’s degree from the London School of Economics and Political Science (LSE).
After I graduated, I spent nearly 8 years working at the financial regulator, completing rotations in authorisations, international banks, and insurance. During my time there I was fortunate to undertake a secondment to Whitehall’s Department of Energy and Climate Change, before drafting the Bank of England’s 2015 report on the impact of climate change on the insurance industry. I later completed another secondment to the House of Commons’ Treasury Select Committee as a committee specialist. I ran a number of high-profile enquiries and drafted the Committee’s 2017 report on the impact of Solvency II on the UK insurance industry.
I then moved into the private sector, honing my holistic risk management skills as a group risk manager for an international insurance group. Following this role, I focused on business development and operations as the chief operating officer of a boutique investment manager and later a financial advice firm. In these roles, I was an FCA-approved person. I now assist clients in the areas of governance, operations, risk, and compliance through my own company, Cherrybank Consulting.
I am a Chartered Member of the Chartered Institute of Securities and Investments, having attained a Diploma in Investment Operations (Level 6). I currently serve as a Non-Executive Director for a MedTech firm, am the chairman of the Audit and Risk Committee of the Forest of Dean Trust, and am a trustee for Microenterprise Africa.
When will these courses be ready?
The new courses will be released throughout summer 2023, starting with the Consumer Duty (which is now live). Keep an eye on Ciphr’s LinkedIn page for updates and check out the course catalogue for the full range of courses.