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Managing Compliance in a Finance Field

Managing Compliance in a Finance Field

So you work in a finance related field. Your business is solid and you have a great employee base. What could possibly go wrong? Well where do we start? With any industry comes a raft of compliance measures to ensure your business is operating legally, but also reducing risk for liability. In finance, these requirements are considerable.

Online Learning Management Systems (LMS) are here to help. A good LMS will be able to deliver course content for you, as well as maintain records so that you can ensure your staff are up to date with their requirements.  

Some examples of these requirements can be found in the following;

Registered tax agent in Australia

To be a registered tax agent in Australia, you must complete continuing professional education (CPE) that meets the tax practitioners’ board’s requirements.  

Regulatory Guide 146

Anyone wishing to provide financial product advice to retail clients in Australia must maintain an RG146. Advisers need to maintain a minimum 20 continuing professional development (CPD) hours per year to stay compliant.  

So how can you easily ensure your staff are meeting requirements while giving them a tool that helps them manage their own professional development?

Automated Learning Management Systems give you the ability to easily set up CPD plans, assign learning and give access to online learning for your staff to navigate their way through.  It is easy for your staff from here to keep track of the points they have accrued throughout the year and identify quickly where there are gaps in their training.  

Furthermore, you have the ability to run reports from these systems to ensure your staff are up to date, rather than risking a nasty surprise at the end of the year.