Under the SMCR, a firms Management Responsibility Map (MRM) ensures clarity, accountability, and compliance by outlining senior management roles, responsibilities, and reporting lines within a firm. It helps identify who is responsible for specific functions, avoiding gaps or overlaps, while enhancing governance and risk oversight. Firms must keep it up-to-date to reflect current management structures and meet regulatory expectations, ensuring personal accountability under the FCA’s Conduct Rules.

Difference between Draft and Live

Within the system you are able to generate two different types of MRM, a Draft version and a Live version. The Key difference between the two is the data which they display. The information shown in a draft MRM includes everything in the system including SoRs that may be in a draft state. Meaning, if a handover is taking place between an incoming and an outgoing senior manager, the Draft MRM would reflect the incoming senior mangers as having the responsibilities assigned to them from the outgoing as part of the handover. The Live MRM would reflect the original owner of the responsibilities until the new Senior manager has their new SoR set to live.

Generating Versions

It is important to generate and maintain versions of their MRM to document changes in governance, ensure compliance with FCA regulations, and provide a clear audit trail of accountability over time. Keeping versions helps track adjustments to senior management roles, reporting lines, or prescribed responsibilities, aiding in regulatory reviews or investigations.

To generate versions in the system navigate to the Firm you want to generate an MRM for and select View Management Responsibilities map.

Within the MRM summary page you have a list of the versions that have been generated (Left) and a useful checklist of any data issues in the system that may need to be fixed to have a complete and accurate MRM (Right). Live versions are recorded as whole numbers and Draft versions are decimals of the last Live Map. In the below example when we generate a draft version it would become 1.1.

To generate a new version on the MRM, you have the option to generate a Draft or Live preview. This is a snippet of what the MRM will look like, it's worth noting these will not be saved or version controlled they are designed to quickly view the MRMs as changes are made before you're happy to capture a version in the system. Select generate management responsibilities map to create the new version of the MRM.

The system will then ask if you would like to generation a Draft version or a Live version. Once you have selected, click confirm to generate your new version of the MRM.

Your new version will then appear in the list of MRM versions on the summary page, you can view the pdf by selecting the 3 line dropdown and 'view pdf'.

If you come across an error when generating the the MRM pdf, please check our pdf generation troubleshooting guide.

If you have any further issues, please contact support.