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.