Best practices in compliance training
Lori Weston, Jennifer Hoopes · Journal of financial compliance. · 2021
Compliance impacts almost every facet of an organisation. In order for an organisation’s compliance programme to be effective, however, it is imperative that the firm have a well-planned, comprehensive compliance-training regimen. Even the most comprehensive compliance programme is ineffective if staff have not been trained on the programme, do not understand the firm’s policies and procedures, and have not been educated on their own responsibilities in carrying out the programme. This paper discusses the importance of placing structure around a firm’s compliance training and explore themes that should be considered in evaluating such a training programme. Themes discussed include compliance-training programme content, audience, format, timing, implementation, documentation and programme effectiveness.