► Course Overview

The recent Investment Firms Prudential Regime (IFPR) introduces the requirement for firms to undertake an Internal Capital and Risk Assessment (ICARA). This should be fundamental to the way a firm manages risk. This course looks at the ICARA process and provides an overview of how to identify harm and undertake mitigation. It looks at business model assessment and forecasting as well as the FCA’s expectations around recovery action and wind-down planning. Own funds and liquidity requirements will also be examined.

► Course Objectives

Attendance at this course provides you with: 

• An understanding of the ICARA process and how to undertake it; 
• An appreciation of the overall financial adequacy rule and the requirement to hold own funds and liquid assets to remain viable;
• An awareness of the ICARA document format and cover concepts such as recovery and wind-down planning triggers and intervention points; 
• The obligation to maintain and update the firm’s ICARA; 
• An awareness of the actions the MIF007 ICARA Questionnaire and the FCA reporting obligation. 

► KEY TOPICS

• Identifying harm
• Overall financial adequacy rule
• Process for calculating the own funds threshold requirement
• Process for calculating the liquid asset threshold requirement
• Additional own funds/liquid assets
• Recovery and wind-down planning triggers
• ICARA questionnaire
• Reviewing and documenting the ICARA 

Course aimed at: Senior Managers, including Executive Directors, Partners, Non-Executive Directors, Operations, Finance, Risk, Compliance and Internal Audit specialists.  The course is especially suited for those tasked with producing, reviewing or approving the ICARA.  The course is equally suited to participants from small and non-interconnected investment firms (SNIs) and non-SNI firms.

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