What is an example of a SYSC function?

SYSC, or the Senior Management Arrangements, Systems and Controls, refers to principles and provisions in the FCA Handbook that focus on the governance and control frameworks within financial services firms. This framework requires firms to have appropriate systems and controls in place to meet regulatory standards, ensuring effective risk management and compliance with applicable regulations.

Finance management is a crucial function within organizations as it deals with the planning, organizing, directing, and controlling of financial activities. This includes tasks such as budgeting, forecasting, managing financial risks, and ensuring statutory compliance, all of which are fundamental to maintaining robust operational control in line with SYSC requirements. Given that proper finance management directly supports sound governance structures and risk management practices—key aspects of SYSC—this function aligns well with the intention behind SYSC regulations.

Retail strategy development, marketing analysis, and sales representation, while important in their own rights, do not primarily focus on establishing or maintaining the governance and control systems required under SYSC. Instead, they are more aligned with market-facing activities and operational execution rather than the internal financial oversight necessary to comply with regulatory expectations. Therefore, finance management stands out as the most relevant example of a SYSC function.