The Compliance Training Program is an annual project that takes place to ensure that licensed employees are accurately assignment regulatory training and to receive one hundred percent completion rate and is effectively arranged in logical groups for ease of consistent application (Streun, 2006). The key stakeholders that make up this project include HR-Talent Management, Enterprise Compliance Training, and HRIS, Bank Compliance, and Brokerage Compliance departments. Each department supports, facilitate, or administer the tools, application of knowledge, or technique for this project requirements (PMBOK Guide, 2013, p. 5). As an organization heavily regulated by FINRA, OCC, FDIC, OTS, SEC, and NASDAQ there are preferred vendors that offer
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This process again is typically initiated at the start of the program and will suffice for the project duration. Once approved the HR-Talent Management team will use the communication template for each assignment each month. The target audience is identified each month by the Bank and Brokerage departments with the support and guidance of Enterprise Compliance Training, HR- Talent Management and often HRIS to advise if the information meets that criteria that feeds into the HRIS systems. This is one of the most critical steps in the process as it relates to initiating and planning through knowledge areas quality management, human resource management, and communication management. The pre and post assignment QA is conducted to validate the target audience for each assignment. This is the risk management and quality management of the processes and is the second most critical step and can trigger a domino effect if the correct people do not receive training. The next critical step is making the assignment in the LMS, if done incorrect can cause a domino effect that will result in new hires not receiving training in a timely manner. The last two steps of the process include creating reports and the …show more content…
During this time the risk should be reiterated. Failure to iterate the process each month not only jeopardize the project but it puts the organization at risk to being fined by the regulators, employees could lose their license for not maintaining continuing education credits, and it is against regulation for employees to speak with customers, place trades, or offer financial advice if their license is not up to date and sponsored by a Brokerage firm.By successfully performing iterative subtask of the project, again each process group is impacted as well as the knowledge areas impacted by failure with the addition of human resource management and procurement management. The benefit of performing successive iterate processes include a well-documented process that is thoroughly followed gains process efficiency, lowers the risk of being fined, and gives the organization a high score that qualifies the bank into an “elite tier”. As a result the shareholders and customers are more confident in the products, service, and knowledge of the employees. In return, the company is more reputable and stock prices often increase that allows the organization to offer annual
This process again is typically initiated at the start of the program and will suffice for the project duration. Once approved the HR-Talent Management team will use the communication template for each assignment each month. The target audience is identified each month by the Bank and Brokerage departments with the support and guidance of Enterprise Compliance Training, HR- Talent Management and often HRIS to advise if the information meets that criteria that feeds into the HRIS systems. This is one of the most critical steps in the process as it relates to initiating and planning through knowledge areas quality management, human resource management, and communication management. The pre and post assignment QA is conducted to validate the target audience for each assignment. This is the risk management and quality management of the processes and is the second most critical step and can trigger a domino effect if the correct people do not receive training. The next critical step is making the assignment in the LMS, if done incorrect can cause a domino effect that will result in new hires not receiving training in a timely manner. The last two steps of the process include creating reports and the …show more content…
During this time the risk should be reiterated. Failure to iterate the process each month not only jeopardize the project but it puts the organization at risk to being fined by the regulators, employees could lose their license for not maintaining continuing education credits, and it is against regulation for employees to speak with customers, place trades, or offer financial advice if their license is not up to date and sponsored by a Brokerage firm.By successfully performing iterative subtask of the project, again each process group is impacted as well as the knowledge areas impacted by failure with the addition of human resource management and procurement management. The benefit of performing successive iterate processes include a well-documented process that is thoroughly followed gains process efficiency, lowers the risk of being fined, and gives the organization a high score that qualifies the bank into an “elite tier”. As a result the shareholders and customers are more confident in the products, service, and knowledge of the employees. In return, the company is more reputable and stock prices often increase that allows the organization to offer annual