Case Study

Fortune 500 Financial Institution Launches Compliance Training Workshop: Lifts Completion 24%

Innovation By The Numbers
40K
Trained 40,000 employees.
99%
99% learner satisfaction.
2hrs
Reduced seat time by almost 2 hrs.
24%
Completion lift increased by 24%.

Project Background

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.

ttcInnovations Sample Image - Customized training and development services, leadership training programs, human resources training, instructional design, and Innovators on Demand®
ttcInnovations Sample Image - Customized training and development services, leadership training programs, human resources training, instructional design, and Innovators on Demand®
ttcInnovations Sample Image - Customized training and development services, leadership training programs, human resources training, instructional design, and Innovators on Demand®

Project Goals:

  • Create task-based training to ensure all employees can apply laws or regulations directly to their role.
  • Include 24 regulatory topics for 2018.
  • Work with 71 compliance subject matter experts (SMEs) to validate the content and gather new and updated regulation information.
  • Work with 12 LOB executives to determine which employee tasks are impacted by any of the 24 regulatory topics.
  • Train 40,000 employees.
  • Create a single source file that branches out to appropriate pathing based on employees’ responsibilities.
  • Reduce the seat time to 1.5 hours, maximum.

Our Approach

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.

ttcInnovations Sample Image - Customized training and development services, leadership training programs, human resources training, instructional design, and Innovators on Demand®

The Solution

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.

ttcInnovations Sample Image - Customized training and development services, leadership training programs, human resources training, instructional design, and Innovators on Demand®
ttcInnovations Sample Image - Customized training and development services, leadership training programs, human resources training, instructional design, and Innovators on Demand®

Project Timeline: January 2017 – June 2018

  • Worked to update and revamp the critical compliance and regulation training to a task-based design to ensure employees could apply 24 specific laws and regulations to their day-to-day tasks and interactions.
  • Partnered with 71 compliance SMEs to identify necessary updates to each law or regulation topic.
  • Worked with LOB executives to determine the tasks and interactions that were impacted by each of the 24 compliance topics.
  • Identified 15 separate audience paths to ensure task-related applicability of topics.
  • Created a single source file format that encompassed all audience paths while sharing content across audiences with similar tasks.
  • Reduced the seat time for individual audiences from 2-3.75 hours to 1.5 hours.

Learner Results

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:

  • Worked to update and revamp the critical compliance and regulation training to a task-based design to ensure employees could apply 24 specific laws and regulations to their day-to-day tasks and interactions.
  • Partnered with 71 compliance SMEs to identify necessary updates for each law or regulation topic.
  • Worked with LOB executives to determine the tasks and interactions impacted by each of the 24 compliance topics.
  • Identified 15 separate audience paths to ensure task-related applicability of topics.
  • Created a single source file format that encompassed all audience paths while sharing content across audiences with similar tasks.
  • Reduced the seat time for individual audiences from 2-3.75 hours to 1.5 hours.

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