With all regulations, controls, inspections and
audits, it is no longer enough to provide training; it is also required to demonstrate that all (relevant) staff
have done all required training modules.
If you sit with all of 20 staff in one building,
your compliance officer can provide the training and have every participant sign an attendance log. But more often
than not, considerably more employees in more than one office location need to
be trained.
An LMS combined with relevant e-learning modules can
then cater for the training needs and demonstrate who has done which training,
on which date and with what result. An ideal tool for many FIs (and other
organizations) to provide information to their regulators and increasingly to
business partners like correspondent banks, customers and suppliers.
A LM System
is just the platform to host e-learning modules and have staff do the training
modules required.
It becomes a Learning Management Solution if there’s proper content
provided and if there are processes and procedures around the system to ensure
all training requirements are met.
The administration of the whole learning cycle can
be done in-house or can be provided as a service so it becomes a Learning
Management Service.
The thing is: you need to take training seriously.
An LMS can help you do that good, cheap and fast. We have helped many customers
to get their learning under control and as a result supported them to
demonstrate to regulators, business partnersn and correspondent banks their
control over the knowledge and awareness in AML/CFT.
But aside from this pressing
regulatory need, an LMS will allow you to manage your entire professional
learning and development program for your staff, making it an important
component of your overall strategic HR programme.
If you want to know how or need help, don’t hesitate
to contact us.
