Increasing regulatory training requirements in the banking and financial industry
A burden or an opportunity?
The long-term influence of regulations naturally leads to more onerous training obligations and higher expectations in terms of staff knowledge and competencies.
Financial industry players are increasingly subject to regulations. Employees of banks, investment funds or other financial institutions are required to go through extensive training to understand, apply, and ultimately comply with the regulatory requirements. This regulatory inflation has not only multiplied the complexity and cost of compliance but has also made compliance training a vital topic for banks. This situation might sound challenging, but compliance training can in fact be much more than a financial burden. It should instead be seen as an opportunity to refresh the financial institution’s overall corporate training approach, reduce costs, and help financial institutions to enhance their services as part of a customer-oriented strategy.
Inside magazine issue 18, June 2018
Inside is Deloitte’s quarterly magazine offering an exclusive insight into best practices, trends and opportunities faced by our clients across all industries.
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