You’d think that the training itself would be the most important part of compliance training. In many ways it is. But it might surprise you to learn that often, for a bank compliance officer, detailed reporting of compliance training may be more important than the training itself.
A company that faces audits often needs to be prepared to offer detailed compliance reporting, in order to mitigate risk. If your chief compliance officer can’t provide clear data to auditors on your bank’s compliance work, then all your careful, effective training could be for nothing.
In a recent survey, less than 60% of respondents believed their company was either “highly” or “very highly” prepared for a compliance audit. That’s quite a large range of people who don’t have any faith that their company is properly prepared for an audit, and quite a lot of room for improvement. So how does a chief compliance officer avoid being unable to prove compliance?
You make sure you use a corporate training program that gives very detailed reporting. It’s the best way to mitigate risk from audits.
Adaptive Learning’s 3-Level Reporting System Is Perfect for Bank Compliance Officers
First of all, Adaptive Learning takes care of all its reporting data on its own, without needing to assign employee time to managing it. Furthermore, Adaptive Learning offers three levels of reporting data: Learner, Team, and Company.
- The Learner level of reporting allows employees to be more self-aware of their training performance.
- The Team level allows team managers to view their team’s performance as a whole, or as individual team members.
- The Company level delivers mass data used to execute large-scale strategy, and delivers data on overall company performance.
Using Adaptive Learning to train your employees on compliance will not only help them master the training in 50% less training time than other e-learning approaches, but its detailed reporting will make it less likely that mismanaged reporting causes problems for your company during an audit.
Want to know what else Adaptive Learning can do for a bank compliance officer? Or what Adaptive Learning can do for Compliance in general?