Case Study – Creating a Conduct Risk Culture

Elearning is the answer. In this case study, we look at how bespoke elearning transformed the conduct risk culture at a global financial firm.

Author: Tracey Adams


Instinet is one of the largest agency-only financial brokers, best known as one of the first off-exchange trading alternatives. Instinet operate within a challenging regulatory framework, underpinned in the UK by the Financial Conduct Authority (FCA).


Instinet were impressed with our track record of elearning delivery – particularly in compliance courses – and asked us to develop their Conduct Risk course. We reviewed their old elearning solution and agreed that they needed a bespoke course that was relevant to the nuances of their business.


Instinet were using off-the-shelf elearning to deliver compliance training to its staff. In general, the elearning was poorly received and Instinet found little return on investment of training spend. In light of FCA guidelines around companies creating a culture of awareness around financial conduct and conduct risk, Instinet wanted to ensure that their staff engaged with the training content more than they had before.

Training satisfaction surveys showed that staff did not enjoy the old elearning content. They felt that scenarios were irrelevant to their roles, and many of the case studies were out-of-date or added little.


The solution was a partially personalised elearning course. Learners would be led through the course by two ‘mentors’, which were fictional characters based on employees at Instinet. The characters would lead learners through the elearning journey, pointing out relevant case studies and guiding users through thought-provoking scenarios and nuanced assessment questions. We drafted a course outline for the client to approve. Once they were happy with this, we drafted a full and detailed storyboard.

We set about designing and building the course. Branding was key, because Instinet wanted to show employees that this course was delivered specifically for them. Working from Instinet’s branding guidelines, we designed a bespoke template which was used to rapidly develop elearning courses for them. The build itself was relatively quick and went through several iterations before the client signed it off. The course focused on conduct risk culture and how every employee had a part to play.


Instinet were delighted with the results. Just over 97% of staff completed the elearning course within four weeks of the course being launched – a record! As a result of the training, the client found that more risks were being logged on their risk register.
“It’s a great result and I’m over the moon with the training and the platform. Thank you and your team for all your help with this, it’s a great result.”

Head of Compliance, Instinet