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02. Recording significant harm functions

Introduction

Under SM&CR, all firms must record each and every significant harm function held by an employee (both current and lapsed).

Someone holds a significant harm function if they carry out a regulated activity that could cause significant harm to a client, their own firm or themselves. Follow the steps below to record these functions:

Adding significant harm functions

  1. Click Workbench and then click Datasets.
  2. Click Certification Regime.
  3. Assign the dataset an accurate description and then click on the dropdown underneath the description to assign it to the Person entity which represents the staff member whose significant harm functions you want to record.
  4. Fill in each significant harm function held by the user, recording:
    1. What the function is
    2. The date when the user first acquired the function
    3. When they resigned it (if applicable)
    4. Whether they have passed a fit & proper test for that function.
  5. Click Add Row in the bottom right to add additional significant harm functions.
  6. Repeat the process for adding a significant harm function until all the functions ever held by that user are documented.
Previous 01. Conducting a ‘Fit & Proper’ assessment
Next 03. Updating an existing record
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