COMPLIANCE OFFICER AND MLRO TRAINING
SITUATION

An experienced investments professional was applying to hold the Compliance Officer/ MLRO (Loney Laundering Responsibility Officer) position at a new firm seeking FCA authorisation. Given the lack of previous compliance experience, it would have been incredibly challenging to receive FCA approval for these functions. Failure to be approved for this role would have required the firm to engage a part or full-time resource.

ACTION

We designed a Skills Gap Analysis and Training Plan to ensure the candidate had the requisite knowledge; and was capable of demonstrating to the FCA that they could oversight the function effectively. The training plan included e-learning and classroom sessions that covered the key areas of focus for the regulator.

OUTCOME

The FCA reviewed the training plan and training material provided to the client, and were satisfied that the framework was in place to be able to hold the functions. Their application for the function was approved. 

DATA PROTECTION (GDPR) TRAINING
SITUATION

A medium sized UK firm with full time employees and engaged contractors was concerned that its data protection risk was high given the number of persons involved with personal data at various stages of its sales process. As part of reasonable steps, it needed to be able to demonstrate that all its workers were regularly briefed on GDPR requirements and could have their questions addressed. 

ACTION

We worked with the firm to design a cost-effective quarterly Data Protection session with all its employees. Using remote working solutions, this has allowed all employees and contractors to receive regular data protection briefings and raise any questions with an skilled consultant.

OUTCOME

The firm’s directors can evidence the arrangements for disseminating knowledge across the organisation and addressing any concerns with their staff and contractors in a timely manner.