1. Responding to the Threats: How training can help protect financial services businesses Martyn Oughton

2. Background  Training is nothing new for financial services businesses  A regulatory requirement in certain areas (e.g. Training and Competence, Anti-Money Laundering.)  Used to support career goals and personal development  Professional standards

3. The Problem – Regulatory Expectations  FCA stance is clear  Good practice examples given BUT  Inadequate training is a key factor in many enforcement cases  Focus not just on adequacy of training structures, but how applied in practice

4. Training – Examples Highlighted in Enforcement Actions (Source: FCA Final Notices against firms in 2014) Nature of Enforcement Action Training issues identified Issues which could have been prevented through training Failures in advice/sales/customer facing processes  Failure to act in a timely fashion to retrain advisers.  Training not provided in a timely fashion to new advisers.  Training processes deliberately drove inappropriate customer outcomes.  Training too basic.  Pass rates set too low for assessments.  Not enough time allowed for materials to be embedded into training processes.  Not enough focus on specific systems used by firms, during the training process, resulting in staff feeling ill- prepared to do their jobs.  Quality of call scripts and processes.  Adequacy of oversight of sales processes.  Understanding of what constitutes effective MI.  What constitutes an effective governance framework in terms of ensuring customers are treated fairly.

5. Reasons for Concern  Intensity of FCA approach  Increase in personal accountability  Forthcoming Senior Managers Regime – banks and insurers  Emphasis on governance structures including training – not just breaches.

6. Designing an Effective Training Programme - Examples Product and Service technical training RDR required examinations FCA suitability requirements Sales Procedures and Sales Quality Guidelines All Staff: Mandatory anti-money laundering training (e.g. Annually or Biannually). Board and Senior Managers Front Office Staff (i.e. Salesforce and Traders) Training on understanding of UK regulatory requirements Specific important technical requirements fundamental to a firm e.g. client assets rules How to establish a strong compliance culture Approved Persons’ training e.g. Statements of Principle and FCA/PRA Principles

7. Putting the Theory into Practice Two Key Challenges  How to access the right training resources; and  Devising training programmes within budget constraints A wide variety of different types of training now on offer – from conferences to webinars, forums, training days, seminars etc.

8. Finding the Solution – Industry Events Online  A better way to find opportunities  Comprehensive search facility  About 40 training providers using the service – and increasing  The ideal support platform for designing training programmes quickly and within budget

9. Next Steps  www.industryeventsonline.com  Try the search facility  Quality content, including blogs and newsletter  Download the White Paper – “Responding to the Threats”

10. Industry Events Online

11. Who are we?  A website launched earlier this year and already the place to go for all financial services events!  Focused on FS and closely related events only  Initial UK market focus, but rapidly expanding globally  275 events currently listed and growing rapidly  Seminars, conferences, workshops, webinars, in-house/Bespoke courses  Weekly blog post providing commentary on  the latest regulations and industry best practice  Weekly Newsletter and daily social media activity providing news on upcoming events and courses

12. 2 Target Audiences Delegates  FS & Finance Practitioners  Senior Managers within all regulated firms  Compliance & Financial Crime Officers  Data Protection Officers  Monitoring staff  Complaints Managers  HR & Training Managers  Audit Staff  Governance and Risk Managers  Law firms and representatives  Students/newcomers to FS  Other Line Managers Training Providers  Trade associations eg: CML, TISA, Financial Crime groups and forums etc.  Recognised Professional Institutions eg: CISI, IfA etc.  Commercial training firms eg: BG Consulting, Marketforce,  Media/Publishing houses  Regulators (in due course)

13. A selection of Training Providers on the site

14. How we can help you, the Delegate…  We provide Choice  Help you to find, compare, and indirectly book the right courses or events;  At the right time  In the right location,  With or without CPD points, and…  Within budget  Database with refined in-built search tool.  Different ways to search  Find events based on sector, theme, location and even CPD credits available  Results can be sorted in date order, price, CPD points  Find, compare and book exactly the event you’re looking for

15. Want to get in contact?  Find us on twitter @I_E_O  Sign up for our weekly newsletter to be the first to find out about all the latest events and special offers! http://www.industryeventsonline.com/newsletter.aspx