About SMF Capital

Why We Exist

Under the Senior Managers and Certification Regime, a Senior Manager isn’t simply a senior hire. They must be approved by the regulator before they start, they carry personal accountability under the Senior Manager Conduct Rules and the Duty of Responsibility, and the firm has to be able to show why they are fit and proper for the role. A search that treats those requirements as paperwork, to be dealt with after the offer, puts the firm and the candidate at risk.

Our founder saw that happen too often: strong candidates whose approval stalled because of something that could have been raised at the first conversation, designations chosen after the hire rather than before it, and combined roles given to people who were strong on one side and thin on the other. SMF Capital was set up to run Senior Manager searches the other way round, with regulatory accountability as the starting point of every brief.

What We Do

We recruit for the full range of Senior Manager Functions, executive and non-executive, and for the senior teams that support them.

We work across banks and building societies, insurers, payments and e-money firms, cryptoasset businesses, wealth managers and advice firms, investment managers, consumer credit firms and brokers. Our recruitment services page sets out how each type of engagement works, and our SMF designations guide covers every function.

How We Work

• Fit and proper from the first conversation. We assess every candidate against the fit and proper test before they reach a shortlist, and raise anything that could affect approval early and in confidence.
• The designation comes first. We confirm which Senior Manager Function the role needs and work from the draft Statement of Responsibilities, so the brief reflects what the person will be accountable for, not just their seniority.
• Sector experience matters. A payments MLRO, a building society CRO and a wealth manager’s compliance officer are different hires. We look for experience in the firm’s own part of the market.
• Realistic timelines. Notice periods and the regulator’s decision time mean Senior Manager appointments take longer than most hires. We plan for the approval phase from the start and arrange interim cover where there will be a gap.
• Personal leadership. Adrian Lawrence FCA leads every search and interviews every shortlisted candidate himself.

Why Firms Choose a Specialist

Generalist recruiters can find senior people. What they rarely do is test whether those people will be approved, and whether they fit the accountability the role carries. Three things set specialist Senior Manager searches apart:

• Approvability is checked before the shortlist. Previous approvals, regulatory references and anything that might need explaining are discussed with candidates early, so there are no surprises after the offer. Our guide to pre-offer checks explains what that involves.
• Combined and fractional roles are tested properly. When one person will hold more than one function, such as compliance oversight and money laundering reporting, we test each discipline separately rather than accepting strength in one as evidence of the other.
• The pool is small and mostly not looking. Approved Senior Managers and experienced deputies are scarce and usually employed. Finding them depends on knowing who they are, not on advertising and waiting.

Who We Work With

Our clients range from newly authorised payments firms appointing their first compliance officer and MLRO, to established wealth managers, lenders and insurers replacing or adding Senior Managers, to dual-regulated banks and building societies strengthening their boards. Recent appointments have included a fractional chief risk officer for a wealth manager, a joint compliance officer and MLRO for a stablecoin business, and senior people to lead FCA authorisation applications. Our case studies give more examples.

We also work with candidates: experienced Senior Managers, formal deputies preparing for their first approval, and fractional holders building a portfolio. If you are considering a Senior Manager role, you can register confidentially or browse our current SMF jobs.

Where We Work

We recruit across the UK, with dedicated knowledge of the main financial centres: London, Manchester, Leeds, Edinburgh, Birmingham and Bristol. Many searches are national, because the right Senior Manager is often not in the firm’s home city, and we also support overseas firms appointing Senior Managers in the UK.

Sharing What We Know

We publish practical guidance for the boards, compliance teams and candidates who have to apply the regime. Our Knowledge Centre explains the rules, from fitness and propriety to suspicious activity reporting; our Insights cover how Senior Manager appointments work in practice; and our free templates include a Statement of Responsibilities and a Responsibilities Map. We also host the SMF Unlocked podcast and online events; see media, podcast and events.

Part of a Wider Group

SMF Capital is part of The Capital Recruitment Group, a family of specialist practices that share a network of senior finance, executive and board-level people. When an enquiry is better suited to a sister practice, we say so and refer it:

• FD Capital: fractional, interim and permanent finance directors and CFOs.
• Exec Capital: C-suite and board-level appointments outside the regulatory sphere.
• NED Capital: non-executive directors and governance roles.
• Accountancy Capital: qualified finance professionals below director level.

See our network for more. SMF Capital is a trading name of FD Capital Recruitment Ltd.

Our Standards

We treat every search, and every candidate conversation, as confidential. We don’t share candidate details without their consent, we’re open with clients about where candidates are strongest and where they would need support, and we’ll tell a firm if we think its budget, time commitment or structure won’t attract the right person. The FCA’s guidance on the Senior Managers and Certification Regime underpins how we approach every appointment.

Frequently Asked Questions

Who leads SMF Capital’s searches?

Every search is led personally by Adrian Lawrence FCA, who interviews every shortlisted candidate.

Do you only recruit Senior Managers?

Our focus is Senior Manager Functions, but we also recruit the senior teams around them, such as deputy MLROs and heads of financial crime. Other finance and board roles go to our sister practices.

Do you recruit for dual-regulated firms?

Yes. We recruit for banks, building societies and insurers, where appointments need PRA and FCA approval.

Can you help with fractional and interim roles?

Yes. Fractional compliance officers and MLROs are among our most common appointments, and we provide interim cover when a Senior Manager leaves suddenly.

How do I get in touch?

Call 0203 745 0239, email recruitment@smfcapital.co.uk or contact us. We reply the same working day.