What is one responsibility of Certified Employees under the SMCR?

Certified Employees under the Senior Managers and Certification Regime (SMCR) have a responsibility to be assessed by their firm. This framework aims to enhance the accountability of individuals working in financial services. Firms are required to ensure that Certified Employees are fit and proper for their roles, thus they must conduct their own assessments to verify the competency, qualifications, and conduct of these employees.

The emphasis on internal assessments helps promote a culture of responsibility and proper governance within firms. This is crucial, as the SMCR is designed to hold individuals accountable for their actions and decisions, enhancing the overall integrity and stability of the financial services industry. By requiring firms to conduct these assessments, the regulatory framework seeks to ensure that Certified Employees are truly capable of fulfilling their responsibilities.

In contrast to the correct answer, other options do not align with the requirements imposed by the SMCR on Certified Employees.