ABSTRACT
This chapter highlights the importance of training for financial services staff; training methods and how to measure their effectiveness; the misuse of training and related issues; formal compliance qualifications; and, finally, United States (US) regulatory guidance on the subject. Moreover, training for the board and executive team aids good corporate governance. Although most organisations recognise the importance of training it is often delegated far down the business ranks and – shamefully – is often one of the first areas to be cut in the face of financial difficulties. The US Department of Justice has issued guidance on what it expects to see in staff training programmes in financial service firms. The effectiveness of training needs to be tested. This needs to include levels of recall days, weeks and months after the training is delivered, how it is assessed.
