Stage 3: Compliance Manager – Practice Management

Each element of the role of a Compliance Manager is set out with the competence framework. For Practice management, the elements identified cover the following:

  • Being part of a profession
  • CILEx regulations
  • Management of a legal entity
  • Business acumen

The competencies comprise knowledge, skills and experience elements, and each is made up of a set of Learning Outcomes.

Managers can meet most of the competencies by these three options:

  1. Completion of a course or courses
  2. Demonstrating their experience by collating evidence and outlining how it demonstrates competence in a log book
  3. Demonstrating evidence through supporting information as part of the entity application, such as policies, business plan, budgets, etc

Individuals will need to make declarations regarding any prior conduct matters. Do consider whether these will have an impact on this role.

The following links and guidance will help you with this stage:

How can I meet these competencies through the other documents I submit?

For many applicants, practice management can be demonstrated through the supporting documents they submit, namely, the Business Plan (including marketing), office manual, policies and procedures, and by applying theoretical knowledge gained practically to their new firm. It is important that all of these are drafted by the applicant to show their skills and knowledge as evidence.