Meet your training obligations and protect your firm’s reputation with our Foundations in Insolvency Compliance online courses. Tailored specifically for insolvency teams, these courses will assist insolvency practices manage compliance risks cost-effectively by enabling team members to:
Working within the insolvency profession requires practitioners and their teams to have a sound knowledge of practice areas beyond the scope of technical insolvency training.
There have been significant legislative changes in the areas of anti-money laundering and data protection, vulnerability awareness is high on the political agenda, and ethics and professional standards issues continue to dominate the complaints mailboxes of the Regulators.
Required awareness levels of these key issues will vary within a practice, depending upon the nature of team members’ roles and their relative responsibilities. However, it is important that all team members have a good grasp of the basics and can flag issues with their managers as they arise. Failing to identify an issue in a timely manner presents a risk to the practice that can result in reputational damage to the practice and regulatory sanction for its insolvency practitioners.
Our Foundations in Insolvency Compliance online courses are delivered in four modules, which you can mix and match to cater for your practice’s needs:
They can be purchased as single modules or as a package per staff member. Each module provides 1.5 hours CPD/E.
| Per module | All Four Modules | |
|---|---|---|
| 1-Person package | £75 | £250 |
| 5-Person package | £220 | £1,000 |
| 20-person package | £750 | £3,500 |
| 50-Person package | £1,650 | £7,500 |
| 50+ price on application |
“I thought it was a good delivery style and helpful.”
“All at our office gave it a thumbs up.’”
“Using ISS Training’s Foundations in Insolvency Compliance course has meant that we have been able to meet necessary staff training demands with an approach that has allowed our staff to gain the essential knowledge at their own pace working around the ongoing demands of their ‘day job’. The internal feedback I have received has all been very positive, complimenting in particular the clarity of presentation and ease of assessment.”
“We appreciated the helpful and friendly approach routinely experienced in liaising with the staff at ISS Training in the administration and deployment of the course programmes.”
“All in all, a very positive experience for our firm.”
Much of the training that is currently available on topics such as anti-money laundering and data privacy is very generic. It can be difficult for team members to see the relevance of it to their day-to-day insolvency work and as a consequence, knowledge is less likely to be retained.
Our Foundations in Insolvency Compliance courses are specifically designed for people working in the insolvency profession and provides not just a grounding in the legal and regulatory provisions, but also practical tips on its application to insolvency work.
Understanding how an area impacts on day-to-day roles is the key to managing the risks presented to the practice, and it is far more interesting for participants when what they are learning is directly relevant to them.
It can be impractical for a business to get a whole team together at one time, especially when it operates across several sites. Maintaining operations, staff absence and turnover, and flexible working patterns mean that it can be difficult to ensure everyone gets the training they need.
Our Foundations in Insolvency Compliance course modules can be completed by team members at a time that fits with their working patterns and the broader business needs of the practice.
To reinforce the value of the learning, each module concludes with a multiple-choice knowledge check. This enables team members to be sure that they have retained the key information and can demonstrate this to their employers. Practices can demonstrate to their Regulators that they have taken meaningful steps to meet their legal obligations to ensure their staff possess the required level of knowledge and awareness.
AML training is now a statutory requirement, and your Recognised Professional Body (RPB) or Regulator will likely be your Supervisory Authority under the AML Regs 2017. Indicators used to assess your AML risk will include a number of factors, including training provided to staff. In future, as part of your inspection visits, your monitor will require sight of your risk assessment and training records.
The Financial Conduct Authority (FCA) draft Guidance for firms on the fair treatment of vulnerable customers states that firms should make sure that all staff, in particular those who operate at the frontline, have the appropriate skills and capability to treat vulnerable customers fairly.
Figure 5: Firms should ensure that staff have the appropriate skills and capability
Understanding the needs of individual vulnerable customers
