Therefore it is vital that there is a robust, but practical, training and competence framework in place to underpin the key activities undertaken within the firm. This should equip individuals with the requisite knowledge and skills and provide assurance that they are able to meet the competence standards required.
Our practical guide provides key success criteria relating to the core components, as illustrated below, of an effective Training & Competence framework. This enables firms to benchmark their T&C provisions against these key criteria to provide confidence in the effectiveness of its arrangements and highlight any areas that may require strengthening.
It also provides an overview of the key aspects of the ongoing management of T&C, to ensure the scheme is being applied consistently and to the required standard, and how learning solutions can be developed to meet the T&C requirements.