Compliance on Your Screen

By Rapino, James | Independent Banker, April 2011 | Go to article overview

Compliance on Your Screen


Rapino, James, Independent Banker


Why and how to do skills training online

Decreasing fee revenues and a competitive banking environment mean that community banks must create, support and sustain a training culture to survive. Skills training is a critical component of building a new learning culture. When combined with specific training customized to meet a bank's goals, it is the most successful strategy.

E-learning is the most costeffective and consistent way to deliver compliance and regulatory training to employees. It also suits many other areas of skills training. Offering skills training online makes it easy, effective and convenient for employees and gives banks cost-efficiency, consistency and great reporting features.

E-learning content is created by experts in a subject and delivered as each learner is ready for it. This self-pacing factor increases retention; studies show that e-learning results in up to 40 percent higher retention than other forms of training. The interactivity and convenience primes the employee for maximum learning. Furthermore, banks can eliminate travel cost for trainers and employees for inperson training, and e-learning can keep pace with the fast-changing world of finance.

In many banks, most jobs can be largely learned through courses that teach the skills required for that position. Such specific skills training allows employees to research skills they need and then select the courses online to learn those skills. This helps target training dollars. If there are competency gaps in certain areas or if individuals request to learn certain skills, those courses can be made available online very quickly.

Desktop learning, ethics training, product/process training and career training are great e-learning options. More and more banks are also finding it convenient to put new-hire orientation online consistently. This emphasizes the importance of a learning culture from the start. Showing new employees the skills and coordinating courses they need to excel at their positions builds a strong workforce.

A specific skills training course could show how the bank manages financial risks in its activities, such as credit risk procedures. …

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