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  1. #1
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    Effective training a weak link in many compliance programs – survey

    NEW YORK, Aug. 13, 2014 (Thomson Reuters Accelus) – Firms, especially those in the financial services sector, have improved their compliance and ethics training programs but are still being challenged in measuring their programs’ effectiveness, two researchers told Thomson Reuters Compliance Complete on Wednesday.

  2. #2
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    Effective training a weak link in many compliance programs – survey

    And the people driving the programs, often in chief compliance officer or roles of similar function, are still being challenged by limited resources and difficulties in making a business case for the firm’s investment, said the researchers, Mary Bennett and Ingrid Freeden of Navex Global.

  3. #3
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    Effective training a weak link in many compliance programs – survey

    Prosecutors and regulators are helping to make the business case for effective training programs by tying bad compliance to aiding and abetting drug lords and terrorists, and by imposing stiff fines, but a recent survey shows that program leaders can differ in defining “effective,” Bennett and Freeden said.

  4. #4
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    Effective training a weak link in many compliance programs – survey

    Some of the survey responders consider a program effective if employees sit through several hours of webinars each year, but other responders use training modules that require interactive participation and test employees on how well they can put what they learned into practice in their specific position.

  5. #5

    Effective training a weak link in many compliance programs – survey

    Bennett said trading is a particularly high-risk area because “you are asking people to operate in a fast-paced environment, making a lot of decisions very fast [and] we know from research that ethical decisions take longer to make.”

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