How to Provide Engaging Compliance Training for Financial Institutions

Why is it important for compliance training to be engaging?

Compliance training is intended to educate employees on laws and regulations that financial institutions are required to abide by. Above and beyond being required by law, this training serves a few purposes. First, it’s essential in ensuring that all employees are aware of how to properly perform their jobs. And second, compliance training is a bank’s defense to reduce risk.

How to Provide Engaging Compliance Training

Quality course content, written by leading industry experts, with hands-on experience gives employees the confidence that the training material can be trusted. Highly impactful eLearning is:

• Instructed by an expert team of instructional designers and course developers
• Has creative, interactive content
• Paves the way to having a truly engaging compliance training program

Real-life Scenarios

Engaging compliance training incorporates scenarios and exercises that are similar to what students are expected to know or perform, giving the course the semblance of reality. By using real-life scenarios within compliance training, it increases relevancy and therefore, also increases retention.

When the activities within a course are relevant and appealing, the course gains credibility. Using real-life scenarios also humanizes the content, helping to build a deeper connection with the student. Engaging employees with real-life scenarios in their training helps to change behavior. This takes the training beyond knowing the course objectives, to confidently applying them on the job.

Here’s an example of how compliance training can use real-life scenarios. View this course clip of “Office of Foreign Assets Control (OFAC)” for a glimpse at our new modernized transactional compliance courses.

Engaging Training is Interactive

If you got to choose between a lecture or a hands-on learning experience, which would you prefer? An interactive presentation of content is designed to drive positive engagement and an increase in retention. Getting employees involved in their learning, rather than sitting passively, can increase their interest and perception of their own learning.

OnCourse Learning’s Compliance Training E3 courses feature audio narration, animated scenarios, infographics, interactive exercises and knowledge checks. A variety of visual design elements are used to attract the student and keep them aesthetically engaged and support learning outcomes. Fun inter-activities are designed to propel the student to think, get interested in the content, and involve them in the learning process.

Relevant and Efficient

Adult learners engage with training when they see value in the training and how it fits within the big picture. Engaging compliance training is goal-oriented, applies to their current role and is done in a timely manner.

A 2019 LinkedIn survey revealed that Generation Z prefers an independent approach to learning. In fact, 43% of Gen Z respondents said they prefer a full self-directed and independent learning experience. eLearning is designed to provide just that.

Precise courseware design allows for efficient reinforcement and remediation. OnCourse Learning’s Compliance Training E3 courses include an assessment to gauge and report on the students’ knowledge. Pre-assessment options also allow students to test-out.

Compliance Training E3 courses are designed with Adult Learning Theory in mind. The modular design allows for prescriptive assignment adapted to the audiences’ roles and responsibilities. Courses pack in only the most relevant and practical information that fulfills the learning outcomes and directly relates to the learning objectives of the course.

Here’s a sample clip from the Identify Theft Prevention E3 course. This clip clearly outlines the course objectives, uses a variety of formats (text, video, animation) and uses real-life scenarios.

Find an Education Partner Who Can Help

Being a leader in the financial services sector means being on top of increasingly complex regulations and guidance. In order to attract and maintain top talent, you need an education provider who can provide your staff with the engaging compliance training experience they expect and deserve. The right eLearning provider will help you get (and stay) ahead.

OnCourse Learning provides engaging compliance training by incorporating the following key elements into their Compliance Training E3 courses.

E3 stands for effective, efficient and engaging:

• Effective: Increase relevancy, retention, and business impact
• Efficient: Educate your employees efficiently and back to serving your customers and generating revenue
• Engaging: Highly engaging courses that feature audio narration, animated scenarios, infographics, interactive exercises, and knowledge checks

Interested in learning more about OnCourse Learning’s Compliance Training E3 Courses?