Licensing and authorisation - Approval functions

Banking

2.1.4 Licensing and authorisation – Approval functions

Description of role

Responsible for approving the licensing application at an initial application stage as well as by change of scope, check fit and proper requirements for new licensees and on an ongoing basis during the lifetime of a licensee.

Core technical skills

Knowledge of structure of banking sector and overall financial sector
Knowledge of operations structures and models of banks
Ability to understand strategic drivers and impact of new entrants in the banking sector in light of anticipated growth
Able to validate and endorse compliance of applicants with respect to requirements of licensing
Ability to critically evaluate of applications, business plans and other submissions documents with a view to obtaining comfort about integrity, accuracy, reliability and relevance of information presented in such documents
Knowledge of relevant laws and principles and standards of regulation and supervision
Knowledge of the overall structure of the banking and financial services industry
Ability to identify any gaps in risk assessments conducted through financial modelling, or incorrect risk-impact reviews
Capability to assess impact and risk of the proposed entity on the financial sector and wider economy
Understanding of complex ownership structures and key risks inherent in each structure
Capability to review complex financial projections

Qualification and/ or certification

QFSQF Level 4
Relevant experience

Types of Cookie	What do they do?	Do these cookies collect my personal data / identify me?
Necessary	These cookies are essential to make our website work correctly as they enable you to move around our website and use our features. Examples include remembering previous actions (e.g. entered text) when navigating back to a page in the same session.	These cookies do not identify you as an individual. If you do not accept these cookies, it may affect the performance of the website, or parts of it.
Performance	These cookies help us understand how visitors interact with our website by providing information about the areas visited, the time spent on the website, and any issues encountered, such as error messages. This helps us improve the performance of our website.	These cookies do not identify you as an individual. All data is collected and aggregated anonymously.
Functionality	These cookies allow our website to remember the choices you make (such as your user name, language or the region you are in) to provide a more personalized online experience.	The information these cookies collect may include personally identifiable information that you have disclosed, such as your username (without password) or profile picture. We will be transparent with you about what information we collect, what we do with it and with whom we share it. If you do not accept these cookies, it may affect the performance and functionality of the website and restrict access to content on the website.
Targeting/Advertising	These cookies are used to deliver content that is more relevant to you and your interests. They may be used to deliver targeted advertising or to limit the number of times you see an advertisement. They also help us measure the effectiveness of advertising campaigns on QFCA and non â€“QFCA websites. We may use these cookies to remember websites you have visited and we may share this information with other parties, including advertisers and our agencies.	Most types of these cookies track consumers via their IP address so may collect some personal identifiable information. For more information about these cookies, including the information they collect and how this is used, click here.