Three steps to compliance heaven

With continual regulatory change in the financial services sector, the role of the compliance professional is increasingly demanding. 

Here are three steps to help lighten the load.

Step 1 – Leading from the front

Fundamental to your role is understanding the licencing obligations of your organisation. You are the subject matter expert and main source of regulatory knowledge in your organisation; your company depends upon you to maintain its compliance. It is down to you to keep abreast of all regulatory changes and disseminate this information throughout your business. Your skills and drive ensure these changes are incorporated into your company’s policies and procedures, but you need access to the most up to date information and practical examples about how regulation will impact your business.

At Financial Education Professionals, our training modules frame compliance requirements in the context of the consumer. Our contextualised learning delivers strategies you can immediately implement in your organisation.

Plus, we provide compliance resources to help keep you abreast of key regulatory changes:

• Subscribe to our Regulatory updates and industry trends to keep your finger on the pulse of regulatory changes.

Step 2 – Embedding compliance in your culture

Compliant behaviour must be imbued throughout the entire organisation. Leadership positions and responsible managers are your allies in your compliance quest, so make sure they too have the requisite regulatory knowledge and skills to assist you. Standardised training not only brings you the confidence that they have the knowledge and skills to do their job to the best of their abilities, it also demonstrates to the whole organisation (and regulators) that compliance is a valuable and integral part of your operations.

With the right education partner, you can make regular training something your leaders aspire to.

Inspire critical thinking through:

• case studies
• ethical dilemmas and
• practical challenges.

Keep them up to date with our online AFSL Responsible Manager CPD. Our annual CPD update is carefully curated to deliver key regulatory changes that will impact financial services during the year. The program is also relevant to governance, risk and compliance professionals and references APRA’s fit and proper test and other prudential standards.

Furthermore, if you are not sure about capability levels in your organisation, then a capability review or training gap analysis will tell you who needs what. Financial Education Professionals offers training programs ranging from Tier 1 & Tier 2 RG146 compliance, industry induction & fundamentals training, continuing professional development and nationally recognised training qualifications.

Step 3 – Smart systems to support your vision

Licensees and their representatives have obligations under the Corporations Act and ASIC’s regulatory guides to undertake continuing professional development.

FEP can support your with:

• General Corporate Compliance Training: A simple enterprise-wide solution for a complex world of regulation.
• Financial Services CPD: Representative’s annual CPD to maintain RG 146 compliance
• Regulatory Short Courses: Short courses to fill any knowledge gaps

SSO is available for larger organisations.

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Experience training that is…

• Delivered collaboratively
• Fit for purpose
• Inspiring and valued
• Easily implemented and simple to use

Talk to us about your team training. In a world where the game is constantly changing, you need an education partner that does more than just explain the rules.