In a rapidly expanding financial sector, change is always around the corner. Being an organisation that can adapt and roll with the punches is crucial if you want to stay on top and reap the benefits of the latest developments in your industry. Ensuring that your employees are aware of new processes, technology and financial instruments are all a vital part of effective financial compliance training that equips them with necessary skills. Compliance training that works will enable your organisation to comply with regulatory and internal codes of conduct. So, how can your organisation know if financial compliance training is working? And how can elearning help you to assess your ROI?
A modern, flexible Learning Management System, enables you to assess how well your employees have understood your training. Your LMS allows you to collect and analyse data to understand how employees have understood specific elements of their training. You can make astute judgements about the data in front of you, after it’s been organised into a usable format. With an advanced reporting suite, you should be able to highlight specific areas of concern or comfort and make changes to your elearning programme accordingly. An LMS can allow you to focus on areas that are of essential importance and ensure that employees are grasping difficult concepts to secure your organisation’s long-term success. Face-to-face compliance training simply cannot provide this level of ongoing, accumulative reporting and tracking capability to help you analyse.
A tailored elearning programme that’s written specifically for your organisation improves your employees’ learning retention. Your financial compliance training becomes more relevant and instantly more engaging when scenarios and case studies reflect their working lives. As a result, your employees truly understand the subject matters at hand. With more general information – such as you’ll find in an off-the-shelf course – there’s less of an intense focus on specific compliance training aspects that your employees need to know. When you use a bespoke elearning course to deliver compliance training, every piece of information is relevant and essential, therefore knowledge retention is increased.
When elearning programmes deliver compliance training by using tailored scenarios that are relevant to your organisation, your employees will be able to see how new processes can fit into their working day. If people recognise a scenario and can see themselves in it then they’re more likely to remember information and apply it. Gamification can be used to personalise compliance training and create an engaging format for employees to work with. They can navigate a series of challenges and collect rewards to incentivise learning and create a fun assessment strategy to highlight the impact of learners’ choices.
Financial compliance training is crucial so that organisations comply with regulatory bodies and that your own employee’s comply with your code of conduct and processes. The areas that can be covered with bespoke elearning training are up to you and depend on your specific requirements; Anti-Bribery, Information Security, Conduct Risk, Anti-Money Laundering, Anti-Fraud, Code of Conduct and Ethics are all possible training elements. Elearning allows an array of relevant financial compliance training areas to be delivered in an engaging way and gives you the tools to analyse a programme’s success and whether your employees have retained knowledge.
Bespoke Financial Compliance Training
Here at GLAD, we’ve developed financial compliance training courses for many organisations. These companies now benefit from bespoke elearning courses written specifically for their staff. If you would like to use bespoke elearning to deliver financial compliance training in your organisation, send us an email to email@example.com. We can send you a free proposal detailing how our bespoke elearning services can improve financial compliance training in your organisation.