Banking and Financial Services Training, Compliance Best Practices and Standards

Banking and Financial Regulatory Compliance Training

This sector, where risk management and compliance are a prerequisite for a financial institution’s legal and ethical perspective, needs its players to stay on top of the game. The USA Patriot Act, the BSA Act and the Dodd Frank Wall Street Reform have been written, amended, revised and updated. The result – a chain of regulations that stay blurred without the right medium to keep you abreast amid your role in the banking and financial circuit.

The Banking Regulators’ Role

With increasingly complex and interconnected business transactions comes the threat of manipulating funds and illegal gains. Banking compliance training or banking and financial regulatory training focuses on guidance in these grey areas, thereby broadening the scope of these training programs for those outside the financial arena as well.

The Bank Secrecy Act mandates that financial institutions must develop, manage, and maintain a compliance program in keeping with the Act’s reporting and recordkeeping requirements. This compliance program must be tailored to a financial institution’s business operations and risks. The program must comprise of these key components: internal controls for BSA compliance; independent testing of the DFI’s compliance; designation of individuals responsible for synchronizing and monitoring day-to-day compliance; and training for appropriate personnel.

FINRA reviews an organization’s compliance with AML or anti-money laundering regulations and sets minimum standards for organizational compliance programs. Similarly, the SEC and OFAC too help streamline the AML regulations to combat new threats and future risks. The updates from these regulators are constant, making AML compliance training an integral part of all organizational training.

Banking Compliance Training

Amid all the reforms and renovations in the financial system lies the task of creating a technologically sound and advanced system to aid in revenue growth, operational efficiency and risk management. Banks and financial institutions have come to rely on technology to take them to the forefront in connecting them with customers, while on the other hand, staying connected with the norms set for them too.

From frontline staff who handle customers to compliance officers and risk managers, financial institutions are constantly looking to keep employees in the loop with bank compliance trainings. These trainings are designed to keep employees updated with the trends and best practices in the industry, while presenting the opportunity to meet your peers in the industry as well.

ComplianceOnline Banking Training Courses - Why Do You Need Them?

ComplainceOnline focuses on these areas of training needs and offers extensive banking training solutions. Our most effective methods of delivering global training include webinars, seminars, corporate training, CDs and recordings, and more.

You can browse through our current modules right here and talk to us to discuss any specific training requirements.