Training has undergone some of the most fundamental change in our industry. What in the past was primarily an operational only function, has become elemental to the success of a Compliance Management System. We must let our employees make mistakes and learn in the consequence free environment of the training session. Training, whether given to a new hire or to a seasoned veteran as part of ongoing development, is how we safeguard our business from the financial and reputational consequences of employees not following our policies and/or the laws that govern the ARM industry.
This guide, written and edited with help from the Compliance Professionals Forum's, is a terrific tool for anyone tasked with a compliance role -- especially in explaining how compliance itself needs to be woven throughout all the training your organization develops and conducts.
The CFPB expects ‘an effective compliance management system.’ Among other items the CFPB lists poor training and inconsistency as the creating the need for this directive. Training & Development is a critical part of a successful compliance management system (CMS).
Published: 2015
