FCA and PRA licenses (authorisations) and ongoing compliance support, training, recruitment. Contact us 7 days a week, 8am-11pm. Free consultations. Phone / Whatsapp: +4478 3368 4449  Email: hirett.co.uk@gmail.com

← Return to the Table of Content for all MCOB pages

Employee Training and Assessment

15.1 Training

The company has in place comprehensive and industry specific training programs for new starters and existing staff which are delivered on a frequent, rolling basis in the below compliance areas: –

  • Treating Customers Fairly
  • Data Protection
  • Information Security
  • Anti-Money Laundering & Financial Corruption
  • Vulnerable Customers & Mental Health
  • The FCA Principles
  • The FCA Rules (as they apply to our firm)
  • Risk Management
  • Records Management
  • Complaint Handling
  • Internal Audits & Assessments
  • Appraisals
  • Leadership & Management
  • Coaching & Mentoring
  • [Add/Delete]

The company also carries out frequent training assessments on all employees to ascertain what operational, regulatory or job specific training is required.

Where training needs are identified, the Training Officer has an adequate resource system and funding to locate numerous training options and will aim to accommodate the personal requirements (not staying away overnight unless essential, external training provided locally, training provided within normal working hours etc.), of the staff in addition to the regulatory and business expectations.

Effective records are kept of all training assessments, training needs and requirements, training workshops in progress, dates of training, employee declaration and feedback and future training approval.

[Detail your training program here, including how you train, frequency, how you accommodate different leaning styles, which areas you train on, how you log and record any training]

15.2 Training & Development Policy & Procedure

1. Policy Statement

The company understands that the training and continuous professional development of its staff is crucial to the success of the business and to ensure regulatory, statutory and legal compliance with rules and laws.

We are committed to providing our employees with a comprehensive and relevant training program which aims to provide support, knowledge, guidance and understanding in the business objectives, individual job roles, business activities and functions and regulatory requirements.

Our training programs are delivered on a rolling, continual basis to ensure that information and regulations are at the forefront of our employee’s minds, to provide updates on any business or regulatory requirements and to offer all employee’s the opportunity to ask questions.

2. Purpose

This purpose of this policy and procedure document is to ensure that the company provides an adequate, relevant and supportive program of training and development for all employee’s and that any such training is readily available and fit for purpose.

To ensure that staff are aware of the regulatory requirements as they relate to the company, it is essential to provide ongoing training sessions via different mediums so that the complex regulatory requirements and information are understood and remembered.

The company has training procedures in place so that a fair and systematic approach is taken to providing training, which benefits all employee’s regardless of position or job role.

3. Scope

The policy relates to all staff (meaning permanent, fixed term, and temporary staff, any third-party representatives or sub-contractors, agency workers, volunteers, interns and agents engaged with the company in the UK or overseas) within the organisation and has been created to ensure that staff deal with the area that this policy relates to in accordance with legal, regulatory, contractual and business expectations and requirements.

4. Objectives

The company has defined clear objectives for training and development as below: –

  • To ensure that all staff are equipped with the skills, knowledge and competency to perform their job role and comply with regulatory and legal requirements
  • To support staff in their job role and to provide confidence in performing tasks
  • To comply with regulatory requirements under the FCA Handbook Training & Competency (TC) module
  • To instil confidence and provide a high level of service to our clients and customers
  • To benefit the company as a whole and create an effective and efficient working environment
  • To offer staff development opportunities and the ability to progress within the company
  • To undertake frequent employee and department analysis to identify training needs
  • To offer equal opportunities with the company

5. Induction Training

The company provide all new starters with a comprehensive training program which aims to provide support, skills and knowledge for performing their own individual job roles, for meeting business standards and objectives and for understand and complying with all regulatory, statutory and legal requirements.

All induction training sessions include employee assessments to ensure that staff are competent in the trained area and involve the use of feedback forms so that we can ensure the success and usefulness of the training being provided.

Induction training is provided in the first 4 weeks of an employee starting with the company and competency assessments are carried out prior to an employee starting their actual job role.

The company induction training program consists of: –

  • Data Protection & Principles
  • Information & Physical Security (inc. Confidentiality)
  • Treating Customers Fairly
  • Vulnerable Customers & The Mental Health Act
  • PCI Compliance
  • The FCA Principles and Handbook Overview
  • Compliance Manual Overview & Training
  • Job Role Procedures & Expectations
  • Health & Safety & Fire Protocols
  • Anti-Money Laundering, Anti-Bribery, Corruption & Fraud
  • Generic Training Session (inc. appraisal, performance reviews, reporting lines, organisation chart & structure, lunch/break times etc)
  • [Add/Delete]

6. Training & Development

The company offer a comprehensive training and development program in addition to the standard induction training (which is re-covered on a rolling basis). We provide rolling training sessions to all existing staff on: –

  • The FCA Rules (as they apply to our firm)
  • Risk Management
  • Records Management
  • Complaint Handling
  • Internal Audits & Assessments

We also provide Management & Leadership training and Coaching & Mentoring to our managers and supervisors.

Training is provided both in-house and externally and to ensure all learning styles are considered, we provide a variety of training methods, including the below: –

  • Training Workshops & Sessions
  • Courses & Qualifications (NVQ’s, Diplomas etc)
  • One-2-One Coaching
  • PowerPoint Presentations
  • Quizzes & Assessments
  • Office Prompts (PC Screensavers, Wall Posters, Scripts)
  • Team & Manager Meetings
  • Appraisals and Performance Reviews
  • Videos
  • Discussion Forums
  • Seminars
  • Web Based Learning
  • Intranet
  • [Add/Delete]

7. Procedures

[If you already have existing arrears procedures insert them here, otherwise you can adopt the below procedures using the forms included in this pack.]

7.1 Training Needs Assessment

The company frequently assess the competence of its staff and provide additional training and support where needed. The procedures used for assessing the training needs of our staff are: –

  • On a quarterly basis, the Training Officer sends out a Training Needs Assessment Form to all staff members with a completion deadline provided
  • Staff are allocated sufficient work time away from the usual business activities to complete the form with their perceived training needs and requirements
  • The completed form is returned to the Line Manager who assesses the requirements and adds accompany notes – ensuring that the form is returned to the Training Officer by the deadline
  • The Training Officer compiles the training needs data and adds any approved training to the Training Development Log which records the training needs of the whole company
  • Training is sourced, and dates allocated on the Training Development Log and staff are notified of upcoming training dates and venues
  • Any training identified by not approved is discussed with the employee and reasons for declining the training are given
  • The Training Officer provides copies of the Training Development Log to the Senior Management and the Directors every [1/2/4 weeks]

7.2 Training Records

Every employee has an individual training record which details all the internal and external training received in relation to their job role and the regulatory requirements expected of the company. Keeping training records is an important part of our training program as it ensures an audit log and enables the Training Officer to easily identity any gaps in training.

  • Each employee is provided with a training file during their induction period
  • The training folder is maintained by the employee; however, it is also assessed by the Line Manager and Training Officer to ensure procedures are being followed and the file is complete
  • An Employee Training Record sheet is kept at the front of the Training File to record all training received
  • Within 2 days of any training being completed, the employee must record the training on their Employee Training Record and have it authorised by the Line Manager
  • Within 2 days of receiving any training, a Training Evaluation Form must be completed – the original is to be returned to the Training Officer and a copy to be filed in the Training File

7.3 Training Evaluation

The company ensures that all training provided to staff, whether in-house or external is evaluated post-delivery to ensure that it has met the training needs and objectives and that the trainee feels that they have obtained the necessary information, skills and knowledge from the training.

It also enables the Senior Management and Training Officer to assess the delivery method, skills, competency and ability of the trainer, both in-house and external, aiding in decision making for future training delivery. The Training Evaluation Form is to be completed by ALL trainees after EVERY training session, regardless of topic or length and can either be signed or completed anonymously.

  • After all training, a Training Assessment Form is to be obtained from the Training Officer
  • Within 2 days of receiving any training, a Training Evaluation Form must be completed
  • The original Training Evaluation Form is to be returned to the Training Officer
  • A copy of the Training Evaluation Form to be filed in the Training File

8. Training Program

[Please provide details and the procedures for your employee training program, including how often training is provided, the format, how it is scheduled, who is responsible for it and how it is disseminated.]

9. Responsibilities

The company will ensure that all staff are provided with the time, equipment and support to learn, understand and implement any training and skills. Assessments will be carried out by the Training Officer and Line Mangers to ensure all staff have the training that they need, and training evaluations will take place frequently to assess the method, usefulness, relevance and acceptability of the training being provided to ensure that it is fit for purpose.

The Training Officer is responsible for the overall Training Program and supporting procedures and controls, however it is also up to all Managers and staff to ensure that their training needs are assessed, recorded and met.