1. Compliance Manual Update Periodic Education Requirements Review
Risk Management – Periodic Education Requirements Review
Form ADV
Update
Compliance Manual Update
Periodic Education Requirements Review
Description: This workflow describes all the steps required to monitor and manage the staff's license, designation, and education requirements on an ongoing basis to ensure the firm is compliant and employees are receiving the appropriate training. Though requirements are generally managed by each individual employee, best practice is for the Advisor monitor this activity from a management standpoint to ensure nothing gets missed or overlooked. Best practice is to initiate this process on a quarterly basis to ensure the firm remains compliant.
Process Checklist
PREPARE
ROLE
TASK
DETAILS/TIPS
Advisor
Review Firm & Identify Educational Requirements
Ensure all records of employee licenses and designations are up-to-date
Determine if any recent firm or employee changes have created new compliance requirements for the employees
Maintain a comprehensive list of all employee requirements
Ensure that list contains the due dates for each specific requirement and what type of work or training is required to get that completed
Prioritize the list of requirements based on time sensitivity
Take into consideration not only the due dates but also the amount of work and time that each requirement will take to be completed
Process Checklist
CONDUCT
ROLE
TASK
DETAILS/TIPS
Advisor
Obtain Employee Updates to Track Requirements
Review all the outstanding compliance requirements with each employee
Obtain an update on the employee’s status of completing those requirements
Update the list with status updates, such as completed, in progress, or incomplete
Maintain record of each employee’s plans and timing for completing any outstanding requirements
Be as specific as possible about projected completion dates:
To ensure there’s no room for confusion or miscommunication
To help the employee remain accountable to completing the requirements in a timely manner
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© 2015 SEI. This information is proprietary.  No further distribution is intended.

2. Compliance Manual Update Periodic Education Requirements Review
Risk Management – Periodic Education Requirements Review
Form ADV
Update
Compliance Manual Update
Periodic Education Requirements Review
Process Checklist
FOLLOW-UP
ROLE
TASK
DETAILS/TIPS
Advisor
Oversee Tasks to Monitor Requirements
Identify a comprehensive list of outstanding requirements and dates to be completed
Set reminders to follow-up with employees on the agreed-upon due dates
Follow-up with employees regarding any concerns as necessary
Especially if an employee appears to have a lot of outstanding requirements or tends to leave these types of things until the last minute
Use this as an opportunity to offer any support to help ensure the employee meets those requirements
Launch the "Staff Requirements Check" workflow again
Typically this is launched on a quarterly basis to continue to track the requirements of the firm to ensure it remains compliant
sei.com/advisors
© 2015 SEI. This information is proprietary.  No further distribution is intended.