What’s on your training agenda?
The days when refresher training involved sitting an unenthusiastic team member in front of e-learning for a few hours are fading. I’ve even seen some lenders mark firms down in their audits if the supplier trains in this way.
We’ve known for awhile that the e-learning experience tends not to actually refresh any knowledge but is used as a ‘tick box’ exercise so our team spend as little time as possible away from their jobs. The larger firms, however, recognise this is not the most efficient use of their resource. Instead, they realise that ensuring team members have the right skills always outweighs the cost of taking them away from their roles. However, we’re also not suggesting it's a good use of your resource to spend days in the classroom each year - read on to learn our solution…
With a significant change on the horizon, the Senior Managers and Certification Regime (SM&CR), not to mention the apprenticeship levy which is now in force, firms have started to look at how they train their teams.
To learn more about the SM&CR regime you can read our latest article here: Senior Managers and Certification Regime - What's Next?
Alternatively you can visit the FCA website: SMCR
Tailor your approach to each individual, using their quality scores to continually re-train. This way we forget the idea of “annual refresher training” but replace it with a system aimed at the needs of each individual based on their evidenced assessment – an assessment we complete anyway.
You will need to overlay this with a few additional “one-off” sessions to bring teams up to speed with upcoming or new compliance rules. Read our section below to see what should be on your agenda.
What should be included in training?
Over the next 12 months firms should focus on:
GDPR, specifically what the 8 rights are, when they apply and the processes you will need to create to comply
Consent under GDPR including when you can or cannot accept information from third parties (this is changing under GDPR)
New pre-action protocol, and
New CSA Code of Practice