Foolproofing ICARAs for 2024 Checklist

This checklist highlights the priorities for ICARAs in 2024 that we laid out in our previous report. We have comprised this list by bringing together our observations on good and bad practice from the second iteration of ICARAs and feedback received directly from the FCA at recent roundtable discussions.

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Foolproofing ICARAs for 2024 Checklist

This checklist highlights the priorities for ICARAs in 2024 that we laid out in our previous report. We have comprised this list by bringing together our observations on good and bad practice from the second iteration of ICARAs and feedback received directly from the FCA at recent roundtable discussions.

Contents

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Risk of harms assessment

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Risk appetite

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Early warning indicators

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Liquidity risk assessment

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Operational risk assessment

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Stress testing

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Wind-down planning

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About fscom

At fscom, we strive to offer excellent service in a professional and personable manner. We deliver this through our unrivalled understanding of financial services regulation and a strong emphasis on taking a commercial and innovative approach that puts our clients’ needs first.

We are specialists in providing regulatory advisory services to a broad range of financial services institutions including payment services and e-money, retail banks, cryptocurrency, trading and broking and asset management firms.

We work across three core areas of regulatory compliance, financial crime and cyber security and provide a range of services including compliance advice, authorisations, audits, interim roles and compliance training.