Compliance training is vital to mitigating risk




To all professionals charged with managing compliance risk in their financial institutions: You have a critical, yet at times, seemingly thankless, responsibility.

During the past decade, you have experienced an onslaught of new compliance risks in an evolving regulatory and risk-management environment. Every time you turn around there is a new threat you must manage and effectively mitigate. Compliance professionals belong to a special breed of unsung heroes, and they always will have a role at their financial institutions.

Financial institution leadership often focuses on compliance departments as a growing cost of doing business, but what often gets overlooked is the extent to which compliance roles contribute to the bottom line. Consider the obvious avoidance of litigation and monetary penalties often associated with regulatory violations.

Compliance risk leaders can provide important information to the team, influencing the accuracy of day-to-day operations. They often achieve this goal through education and training, which is an investment in employees, the most valuable resource of any financial institution.

Education and training

The benefits of investing in the professional development and training of employees are well documented. Studies show such training engenders employees who are efficient, effective and have high morale, plus remain in their jobs longer and advance within the company. Well-trained employees also provide high-level service and add to the company’s sale success.

Education of staff and management comes in many forms within institutions. It often includes new hire orientation; reading through comprehensive policies and well-documented procedures; and educating staff on changing regulations. Learning should be an ongoing process in every successful financial institution.

It is critical to partner with an expert in delivering up-to-date educational content through proven e-learning formats, because even the most effective compliance professionals need help to efficiently manage the important responsibility they have at their institutions.

OnCourse Learning Financial Services specializes in educating and providing content to financial institution compliance professionals. Understanding your challenges and the associated opportunities enables us to provide our partners with relevant, accurate content presented in an engaging and meaningful format.


About the author

Jeff Kelly

Jeff Kelly is Vice President of Governance, Risk and Compliance for OnCourse Learning Financial Services. He previously worked in various other roles in the financial services industry, including as a compliance officer, senior regulatory examiner, and vice president of compliance and risk management. Kelly has an M.B.A. from the University of Wisconsin-Milwaukee.

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