As regulations get more and more complex, be it Regulation Best Interest, Data Privacy, Anti-money laundering , New regulatory expectations for client disclosures or Conflict of interest, it becomes imperative for organizations to not only set the policies and procedures in place but also to train the staff about the latest procedures to be followed. It is important to give them a good and deep understanding of the expectations from compliance and what constitutes violation.
Online training can be a big help in creating a resource pool for consistent information delivery based on functional responsibilities to allow them to understand nuances of regulations in the roles they play and stay in compliance.
The Challenges in establishing Training
Online training can help organizations deliver customized training that is tailored with internal compliance requirements and make it available at the desktop.
By doing this pertinent training can be delivered effectively and on time.
Availability of training material for future reference can be added advantage for all new hires that may be joining the organization and have to be trained on the organization’s process
Given the current COVID market situation, Online training may be the best option for staff to be trained Vs class room training
GRACE for Online Training
GRACE for online training helps you establish the training process calendar, enroll the relevant staff, set up alerts for them to know about the courses they need to attend. It allows customized course content to be created and set up within the training calendar
My Portal on GRACE will allow end users to login to the system and invoke their training course. The training course will include content to be viewed, and quizzes to be answered that can also rate the understanding of the material provided.The course completion status will be available to the organization. The Training Dashboard provides analytics on courses, status of progress across locations, departments and user groups to help plan and manage
GRACE Online Training
Organized, Efficient Training across the organization can lead to less compliance violations
Set up and Manage Training
GRACE helps manage the Training calendar by setting up the dates on which training would be conducted, along with information on the Training organization and documents that can be shared with the staff
GRACE can help add and manage staff that need to be included into the training. User Groups can be created and can be assigned training courses
GRACE will send out e-mail alerts to users on the dates of training and send them reminders based on their training status
Training Content Creation
La Meer can help build your business specific content though our content creation service on a consulting basis. This can help you meet multi-departmental, multi-locational and multi-lingual needs . We can help you set up training for subjects like Reg BI, California Consumer Privacy Act (CCPA), GDPR, Data Privacy, Anti-Money Laundering, Mifid II, SMCR and others
Training Dashboard and Analytics
The Training dashboard provides graphical view of all training sessions across departments, locations, groups, status of progress.
For each training it shows how many people have finished the training along with drill down to information about their scores and status of completion
It provides analytics on the course scores and which units were found useful and other feedback from users
Additional reports can be generated by end user and used for internal reviews.
My Portal for all Staff
Each User who undergoes training will get an E-mail alert and can login to the system to undertake the training assigned to them
The User can click on the training and go thru the course contents. When they finish the Course ware, the system will record analytic information including user feedback.
Integrated to GRACE
By integrating training with other modules from GRACE system, organizations can prove their compliance to regulations comprehensively.
The Great Value You Get from Using GRACE Training
Organized, Efficient Training across the organization at Low Cost
Manage Training Comprehensively and Effectively
Helps you build your training with customized content for your business and allow all your staff be trained to address the latest rules and regulations that pertain to their roles and responsibilities.
Management reports on-line
Web based access, anytime anywhere, means no need for reports to be generated in various departments for presentation to senior management. Effort, costs, and time can be saved.
Early awareness reduces non-compliance
By ensuring that all groups are trained well ahead of issues, the organization can avoid compliance violations and the costs associated with their mitigation
Regulatory examinations can be handled with confidence
GRACE becomes live proof of good risk management and compliance training practice in the organization and saves an enormous amount of money in data gathering and report creation process for regulatory audits and examinations.
Standardization in the Training Process
Standardization of course ware and individualization of the course material can be done easily to ensure that training is delivered at all levels that meets their individual group requirements
Organization Ownership of Data
Organizations suffer when key risk and compliance staff leaves. The information is scattered if maintained solely by individuals and are lying on disks in various forms. GRACE becomes the single central repository of documents, data and processes enabling continuity even when key people leave the organization
Customized Training for your particular business needs can be quickly deployed
Customization of your training to meet the business requirements can be done quickly to enable you to adapt to new regulations or business changes and deliver it to your team on a regular basis
Visibility and Transparency through Powerful Dashboard
Training status at a glance and monitoring to ensure all staff are trained from a single source of truth
Culture of Compliance gets institutionalized
With a business as usual process through the enterprise, a culture of managing education for the staff becomes institutionalized across the organization.
By making training a transparent process, accountability to ensure compliance can be established
Enormous Cost Savings
Enormous costs savings from not paying for outside training can be avoided and at the same time the effective, periodic training can be offered at low costs.
Avoid Excel Based Monitoring
Manage and keep track of people and their training processes in Excel sheets can be avoided
Complete Source of information : https://www.klgates.com/SEC-Proposes-Cybersecurity-Risk-Management-Rules-for-Investment-Advisers-and-Funds-3-9-2022. All Language quoted and attributed to the article On 9 February 2022, the U.S....
All information Quoted from the article https://us.eversheds-sutherland.com/NewsCommentary/Press-Releases/249220/Annual-Eversheds-Sutherland-Analysis-of-FINRA-Disciplinary-Actions-Shows-Huge-Surge-in-Financial-Sanctions?utm_source=vuture&utm_medium=email&utm_campaign=vuture-emails March 8, 2022 Eversheds Sutherland has completed its annual study of the disciplinary actions reported...
https://www.occ.gov/publications-and-resources/publications/semiannual-risk-perspective/files/pub-semiannual-risk-perspective-fall-2021.pdf All information here is quoted from the article. Please refer to it from the complete article The OCC is...
Key Highlights from the OCC’s Risk Alert on Dec 12th 2021 https://www.occ.gov/publications-and-resources/publications/semiannual-risk-perspective/files/pub-semiannual-risk-perspective-fall-2021.pdf All information quoted here is from the OCC...
https://www.sec.gov/files/exams-registered-investment-company-risk-alert.pdf SEC Risk Alert of October 26, 2021 Observations from Examinations in the Registered Investment Company Initiatives* All notes below...
https://www.linkedin.com/posts/la-meer-associates_empower-your-organization-to-comply-activity-6727625980141281280-9sl4 Please join us for a webinar on “Empower Your Organization to Comply” on Nov 12th 2020 at 11 am...