SMF Recruitment Services for FCA and PRA-Regulated Firms
SMF Capital recruits Senior Managers: the people who hold Senior Manager Functions under the SMCR and carry personal accountability to the FCA and PRA. We find candidates who can do the job and can be approved to do it, and we stay involved from the first brief to the candidate’s first day. Whether you need a permanent compliance officer, a retained search for a chief executive, an interim MLRO this month or a complete Senior Manager team for authorisation, every search is overseen by Adrian Lawrence FCA.
Our Services
| Service | When firms use it |
|---|---|
| Permanent SMF recruitment | Filling a Senior Manager role on a permanent basis, from compliance officer to chief executive. Our core service, described on this page. |
| Retained executive search | Board, executive and hard-to-fill roles where the whole market must be mapped and confidentiality matters. |
| Fractional and interim cover | Covering a vacancy, a remediation or a smaller firm’s need for approved part-time leadership. |
| Authorisation support | Firms seeking FCA authorisation that need to name credible, approvable Senior Managers. |
| Governance and SMF structure review | Checking that designations, responsibilities and the responsibilities map are right before recruiting. |
| Multi-SMF board and executive team builds | Appointing several Senior Managers together, for a new firm, a move to the Enhanced tier or a restructure. |
| Overseas firms and group structures | Overseas groups establishing or running UK branches and subsidiaries. |
The Senior Manager Roles We Recruit
We recruit across every Senior Manager Function. These are the roles we fill most often, each with a dedicated page explaining how we approach the search. For every function, see our complete guide to SMF designations.
| Role | Function | Recruitment page |
|---|---|---|
| Chief Executive | SMF1 | Regulated CEO recruitment |
| Chief Financial Officer | SMF2 | CFO recruitment |
| Chief Risk Officer | SMF4 | CRO recruitment |
| Head of Internal Audit | SMF5 | Head of Internal Audit recruitment |
| Chair and committee chairs | SMF9–SMF14 | Chair and committee chair recruitment |
| Compliance officer | SMF16 | Compliance officer recruitment |
| MLRO | SMF17 | MLRO recruitment |
| Financial crime leaders | Around SMF17 | Financial crime leadership recruitment |
| Head of UK branch | SMF19 | Branch head recruitment |
| Chief Operating Officer | SMF24 | COO recruitment |
| RDR-qualified Senior Managers | Advice firms | RDR-qualified Senior Manager recruitment |
| Certified advisers | Certification Regime | Certified adviser recruitment |
Why SMF Recruitment Needs a Specialist
A Senior Manager isn’t simply a senior employee. They must be approved by the regulator before they start, they hold a Statement of Responsibilities setting out what they are accountable for, and under the Duty of Responsibility they can be held personally accountable if something goes wrong in their area. That changes how a search has to run.
- Approvability comes first. A shortlist of capable people who can’t be approved is no use. We assess every candidate against the fit and proper test before they reach you.
- References start early. Regulatory references covering six years can sink an offer if they arrive late. We start them as soon as an offer is accepted.
- Timing is planned around the regulator. Approval can take months. We plan notice periods, interim cover and start dates around it; see how long an SMF appointment takes.
- The designation must be right. We confirm which function the role is before the search starts; see which SMFs apply at which tier.
How We Run a Search
- Brief against accountability. We start from what the Senior Manager will be accountable for, including any Prescribed Responsibilities, not just the job title.
- Agree the right structure. Permanent, retained, interim or fractional; one role or several; combined functions where they make sense.
- Direct, confidential search. The strongest Senior Managers are usually in role. We approach them discreetly.
- Fit and proper pre-assessment. Prior approvals, regulatory history, directorships and financial soundness are checked before the shortlist.
- Shortlist and interview. Our specialist team interviews every shortlisted candidate.
- Offer, references and approval. We help structure the offer, start references early and support the Form A. See managing the gap between offer and approval.
- Through to day one. We stay involved until your new Senior Manager is in post.
Permanent searches typically produce a shortlist in three to five weeks. Interim and fractional cover can often be arranged more quickly, which matters when a Senior Manager leaves without warning.
Sectors We Recruit For
Senior Manager experience doesn’t transfer evenly between sectors, so we run every search against the firm’s actual activities. We recruit for banks and building societies, insurers and MGAs, investment managers, wealth managers, consumer credit firms, payments and fintech firms and crypto-asset businesses.
Locations
We recruit Senior Managers across the UK, with dedicated pages for London, Edinburgh, Birmingham and Bristol, and for overseas firms with UK operations.
Who We Work With
Our clients range from newly authorised fintechs appointing their first compliance officer to banks, insurers and investment firms replacing board-level Senior Managers. We work with chief executives, chairs and nomination committees, HR and talent teams, and the compliance and company secretarial functions that manage the approval process. Overseas groups use us to build or strengthen their UK teams, and private equity investors use us when a regulated portfolio company needs new leadership.
For compliance leadership specifically, see our chief compliance officer and head of compliance recruitment page, or our fractional compliance officer (SMF16) page if you need cover for part of the week.
We also work closely with candidates. Many of the Senior Managers we place have worked with us before, as candidates or as clients, and we give every candidate an honest view of the role and the firm. Experienced Senior Managers can register with us or see current roles.
Part of a Specialist Group
SMF Capital is part of The Capital Recruitment Group, which includes specialist practices for finance leadership, executive appointments, non-executive directors and qualified finance professionals. When a Senior Manager search reveals a need for supporting roles, such as a financial controller, regulatory reporting manager or independent non-executive, we can recruit them alongside the Senior Manager, so the whole team is in place when the new appointment starts.
Recent Appointments and Market View
Our case studies describe recent placements, including a fractional Chief Risk Officer for a wealth management firm and a combined SMF16 and SMF17 for a stablecoin business. Our SMF recruitment market update sets out which functions are in demand and where candidates are scarce, and our salary guide gives current pay benchmarks.
Typical brief: A growing firm needs a new compliance officer within three months, its MLRO is leaving, and it is about to move into the Enhanced tier. We review the SMF structure, provide an approved interim MLRO immediately, run a permanent SMF16 search, and plan the additional Enhanced-tier appointments so the firm is ready before the change takes effect.
SMF Recruitment
Every Senior Manager Function, every way of working. Every SMF search is overseen by Adrian Lawrence FCA
Control Functions
Compliance, MLRO, risk and audit.
→ Compliance officer (SMF16) → MLRO (SMF17)SMF16 and SMF17 explained →
Board and Executive
Leadership searches.
→ CEO (SMF1) → CFO (SMF2)Retained executive search →
Flexible Cover
Interim and fractional.
→ Fractional and interim cover → The 12-week ruleFractional or full-time? →
Firm Structure
Before and beyond recruitment.
→ SMF structure review → Authorisation supportKnowledge Centre →
Every SMF search is overseen by Adrian Lawrence FCA
Frequently Asked Questions
Which Senior Manager Functions do you recruit?
All of them, from SMF1 Chief Executive to SMF27 Partner, plus the senior roles that support them, such as financial crime leaders and certified advisers.
Do you recruit permanent, interim and fractional Senior Managers?
Yes. We also run retained executive searches for board and executive roles.
How quickly can you shortlist?
Typically three to five weeks for a permanent role, and four to six weeks for a retained search. Interim and fractional cover can often be arranged more quickly.
Do you help with the approval application?
Yes. We support the Form A and Statement of Responsibilities, start references early and prepare candidates for the process, including any regulator interview.
Do you work with firms seeking authorisation?
Yes. We help new firms name credible Senior Managers for their application and build the team in the right order. See authorisation support.
Who leads the search?
Adrian Lawrence FCA, our founder, oversees every SMF search.
About the Author
Adrian Lawrence FCA is the founder of SMF Capital. He is a Chartered Accountant and Fellow of the ICAEW, holds a practising certificate in his own name, and is a former listed-company Finance Director with a BSc from Queen Mary College, University of London. He founded FD Capital in 2018 and has since built a network of five specialist recruitment practices, including Exec Capital and NED Capital. He oversees every SMF Capital search. View Adrian’s ICAEW profile.
Recruiting a Senior Manager?
Tell us about the role and we’ll recommend the right approach, then find candidates who can be approved. We’ll come back to you the same working day.