The financial services industry is facing very specific L&D challenges. Compliance officers and HR professionals alike are struggling to keep staff up to date with the ever changing regulations, imposed in force after the global financial crisis, and most companies have found they need to update their learning management software and training content in response to tighter compliance regulation.
Creating a company culture of compliance is no longer a tick box exercise. A wide range of employees, from IT staff to sales representatives and line managers, must be aware not only of their individual responsibilities, but also of the legal and regulatory obligations of their organisation. Compliance officers also need to be able to demonstrate that staff are working in a way that is compliant with regulations and that they are adequately supported to do this.
Our market-ready compliance content includes financial services e-learning modules which have been carefully designed to cover key compliance topics relevant to financial services organisations – we offer both generic courses and modules specific to the UK. The interactive content, using scenarios and quiz formats, is suitable for all staff working in financial institutions and requires no prior regulatory knowledge or experience. The content is customisable and can be delivered on IMC's Learning Management System, any SCORM compliant LMS, or can be hosted and managed as an IMC cloud service.
For example, a British bank with affiliates in the Middle East were looking for relevant compliance content to efficiently bring their staff and associates up to the required UK compliance level. This was a time critical project so they needed off-the-shelf courses, covering core financial services compliance topics, which could be quickly customised and then distributed to staff. The bank decided on the UK Compliance Essentials range of courses hosted on IMC’s cloud services. Each staff member was issued a login and password so that they could start progressing through the interactive courses immediately. Reports are run by the course administrators whenever required.
It is important to us that we offer customisable solutions and content relevant to the specifics of our customer projects.
For example Bankhaus August Lenz, a well-regarded European bank, wanted to create a self-sufficient financial services e-learning program for training their staff on compliance, from writing storyboards to creating and publishing the courses in-house. IMC first organised a workshop to teach key employees how to develop storyboards that were tailored to the bank's needs and philosophy.
The bank then used IMC Content Studio to create the courses as they needed a tool which was compatible with smartphones and tablets. It also allowed their non-technical staff to easily and quickly create training, without any special skills, and then publish their content at a click of a button.
The content was hosted on IMC's Learning Management System, IMC Learning Suite, which allowed them to keep track of each employee's learning progress and course status. The user-friendly interface for staff and admins, as well as the flexible course reminder emails made it a breeze to manage staff, content and compliance. Most importantly, the clear graphical reports made the company's compliance status instantly auditable to the board and the regulators.
Find out more about the project here.
More benefits for financial services:
Avoiding compliance failures could literally save your organisation millions. Do your staff need help with rarely performed or complicated compliance processes? Our electronic performance support system, IMC Process Guide, offers a lifeline when it comes to financial services compliance. It works as an employee's personal assistant, leading them through software or processes step-by-step and alerting them to compliance requirements where necessary.
We are more than happy to advise you on your optimal solution. Talk to us today!