Chapter 5

Question 1

List the key requirements, as outlined by the FCA, for referencing of a candidate for an SMF or certification function.

Answer 1

• Employment history for past 5 years with explanation of any gaps.
• Criminal record check.
• Qualifications.
• References/should seek reference from last employer as a minimum.
• Financial soundness.
• Records.

Question 2

What should a job description contain?

Answer 2

• The job title.
• The overall purpose and scope of the job.
• A broad statement of the duties of the job.
• The title of the person to who the job-holder reports.
• Its relationship with other jobs.
• Titles of anyone reporting to the job-holder.

Question 3

How can the job description play a key role in the recruitment process?

Answer 3

• Form the basis of any advertisement.
• Allow candidates to determine what the job involves.
• Identify training needs as part of an individuals development.
• Clarify the duties expected of the candidate for the job.

Question 4

What is the typical recruitment and selection process?

Answer 4

1. Determine job requirements.
2. Undertake recruitment.
3. Make a selection.
4. Job offer.

Question 5

What should ‘Person Specification’ include?

Answer 5

• Physical make-up.
• Qualifications/experience.
• General intelligence.
• Special aptitudes.
• Interests.
• Disposition.
• Circumstances.

Question 6

What are the ‘Fit and Proper’ requirements?

Answer 6

• Honesty, integrity and reputations.
• Competency and capability.
• Financial soundness.

Question 7

State the rights an ‘employee’ has.

Answer 7

• A written statement of employment.
• Payment at or above the national minimum wage.
• Paid sick leave.
• Antenatal care.
• The ability for flexible working.
• Redundancy pay/minimum notice periods.

Question 8

State the rights an ‘self-employed’ contractor has.

Answer 8

• Protection of their health and safety.
• Protection against discrimination.
• The rights and responsibilities set out by the terms of the contract.

Question 9

What 3 key criteria is used to determine employment status?

Answer 9

• Personal service.
• Control.
• Mutuality of obligation.

Question 10

What must be included in the induction plan for a new employee?

Answer 10

• ensure the new recruit understands the nature of their job;
• show the way in which the job fits into the organisation of the firm as a whole;
• the history of the firm, future vision and values of the firm;
• introduce the supervisory arrangements (and the supervisor);
• introduce other staff;
• cover ‘rules of the office’, e.g. pay/bonus, holiday entitlement, hours of work, use of the
  internet;
• organisation information – background and structure, departments, products and
  services, physical layout;
• culture and values – communication;
• rules and procedures – data protection, email and internet usage, equal opportunities,
  use of mobile phones;
• health and safety – first aid, smoking, environmental aspects;
• trade unions; and
• welfare, benefits and facilities – alcohol and drugs, employee assistance programmes.