Each year, this top 10 investment firm requires their advisors, staff, and operations team to complete mandatory compliance training on a variety of topics. This is very common for any financial institution, but this client decided a few years ago to combine all the topics into one course, allowing their employees to complete all regulatory topics at once. This also made delivering the course and having all audiences on the same training schedule a bit simpler.
Up until 2018, this course had been developed and maintained by the internal organization, and depending on the employee’s role, could take 2 to 3.75 hours to complete. Of course, each year brings more regulatory topics, new line of business (LOB) capacity requirements, and a shorter learning development runway — presenting quite the time-consuming challenge for the bank. 2018 was the year to experiment with using a training vendor to design and develop the course, thus freeing up the client’s internal learning resources to work on other projects.
With coffee in hand, we worked with the compliance SMEs and business executives to determine what laws and regulations needed to be included. We then reviewed any new or changing requirements and matched each requirement to specific on the job tasks completed by employees. Not an easy task in any universe!
The compliance partners wanted a comprehensive approach to each regulatory topic, but because the partners were grouped by topic, each one thought their topic was the most important and required a large amount of content.
Our business executives were much more concerned about how much time employees would spend completing the course and wanted NO tricky test-out options. Finally, the regulators wanted a closer tie of the laws and regulations to the employees’ job tasks and responsibilities.
The final Course included 24 modules,each branching out into 15 audience paths. Branching was done at the task-level to support task-level application for each law or regulation. Lectora was used as the authoring tool, and Cornerstone was used to handle branching to different audiences through course codes.
Our partners launched the workshop in three cities resulting in the following average learner success rates. Additionally, we received the following feedback from the business:
Since 2003, ttcInnovations, a preferred training vendor, has provided professional custom learning support to this leading Fortune 500 global banking and financial institution.
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