07.07.2020

Q2 Blog

Q2

          It’s been another busy quarter, which will see further useful changes and updates to our Governance Risk and Compliance library of courses.

          STANDARD QUARTERLY UPDATES

          Governance, Risk and Compliance

          UNI_064: MLRO: The Role of the Money Laundering Reporting Officer

          Significant enhancement to content in order to improve the flow of the content for improved learner experience and readability.
          Removal of content deemed to be irrelevant for this level of learner (such as the definition of money laundering).
          Updated legislative and regulatory references including 5MLD and MLR 2019

          UNI_028: Customer due diligence

          There’s no technical change to the content here. However, to help the learning experience, we’ve re-ordered a lot of the content and also broken down the longest activity into two shorter, more manageable activities. While doing this, we’ve also taken the opportunity to streamline some of the wording (although what it says remains the same).

          UNI_029: Complying with sanctions

          For this course we have created a new introduction to the purpose of sanctions and how /why they can be imposed. We have also enhanced the content with more up to date examples of sanctions that have been imposed, how they can be more complex for sanctions screening processes due to diverse exceptions; and their impact on the considerations for financial services. We have improved the content for Financial Sanctions by clarifying the points at which sanctions checks would be carried out by a firm and solutions that assist firms in receiving real-time sanction updates via e-alerts from OFSI.

          UNI_074: Transaction reporting

          There’s no technical change to the content here. However, to help the learning experience, we’ve changed the order of the screens into what we think is now a more logical flow, bearing in mind what the user needs to know about this subject. While doing this, we’ve also taken the opportunity to streamline some of the wording (although what it says remains the same). This means that instead of several smaller activities, we now have one 12 screen activity to cover everything.

          UNI_079: Financial Promotions

          For this course we have streamlined content by reducing the volume of content while retaining all the key points. We have also introduced new content on the challenge and requirements regarding the sufficient coverage of risk warnings for promotions published on social media; and we have made minor updates to our content on COBS and MCOBS rules.

          We have replaced some of older case study / examples with newer instances of where misleading financial promotions have resulted in fines from the regulator.

          UNI_002: Combating Market Abuse

          There’s no technical change to the content here. However, to help the learning experience, we’ve made some enhancements for you.

          Firstly, we’ve changed the order of the activities into what we think is now a more logical flow, bearing in mind what’s now involved with this subject.

          Then, secondly, we’ve added two interactive videos for you, to highlight the various types of market abuse. In due course, these can also be used as valuable standalone refreshers.

          Finally, while doing all this, we’ve also taken the opportunity to streamline some of the wording (although what it says remains the same).

          UNI_087: An Introduction to the Regulatory Regime for Claims Management Companies)
          UNI_031: Consumer credit regulations (personal loans and credit cards)

          This course has undergone a number of changes as follows:

          Addition of content in relation to ‘responsible lending’ obligations for firms
          Enhancement of existing content regarding distance sales both online and on the phone
          Some restructuring of content to improve flow and enhance readability

          UNI_007: Consumer credit regulations (motor finance)

          This course has undergone a number of changes as follows:

          Addition of content in relation to ‘responsible lending’ obligations for firms
          Enhancement of existing content regarding distance sales both online and on the phone
          Some restructuring of content to improve flow and enhance readability

          UNI_008: Fighting fraud

          There’s a few changes here. Firstly, we’ve enhanced the material on external fraud, adding some tell-tale signs of this and some specific ways the user can help in the fight against it. To help the learning experience further, we’ve then added this information in the form of an interactive video to illustrate these points. Then, as well as an interactive video on external fraud, we’ve also added one on the equally important topic of internal fraud.

          Converted to eCreator 2.0

          UNI_068: Senior managers regime

          This course has undergone significant updates to the context to bring the course into the present day. We have enhanced the graphics through a conversion of the course into our authoring tool, eCreator 2.0.

          UNI_094: The Conduct Rules

          To help the learning experience, we’ve made some enhancements for you here.

          Firstly, we’ve revisited our list of case studies that support this pathway and added a few more. That means there are now over 50 case studies to choose from! That’s an individual case study for nearly every job role in financial services, with learning about the Conduct Rules tailored to the role.

          Secondly, while doing this, we’ve taken the opportunity to streamline some of the wording (although what it says remains the same).

          Then thirdly, we’re moving all these case studies, in addition to the other content, to our eCreator 2 template. This gives it a great, fresh new look and feel. This of course also includes the functionality for administrators to print the course to a PDF.


          Mortgage and Home Finance

          OTS_MHF_01: Buying, selling and financing property: the parties and methods involved.

          Minor text amends to improve word count and flow. No regulatory amends.

          OTS_MHF_02: Mortgage and home finance regulation and the various types of mortgages.

          We’ve reworked the content here to encapsulate the situation following the FCA’s recent Mortgage Market Survey (MMS).

          Firstly, we’ve re-worded the activities to reflect the current position, particularly with regard to advised sales and execution-only sales.

          Secondly, with the changes on the market following the MMS being quite impactful, in turn, we made quite extensive changes to the structure of the Pathway. Instead of one larger activity called ‘Advising on regulated mortgage contracts’ looking at everything involved in advised and execution-only sales, we’ve broken this down into three much smaller activities.

          The first smaller activity, ‘What are regulated mortgage contracts?’, does 'exactly what it says on the tin’. It defines what a regulated mortgage contract is. The second smaller activity, ‘Advised sales’, looks at what’s now involved with such sales. Then, the third smaller activity, ‘Execution-only sales’, looks at what’s involved there.

          The above of course means you also now get a great, new, standalone summary video for each of the three new activity.

          With the inclusion of the new activities, Administrators will need to publish changes on users who are already registered to the pathway by following the guide on how to Publish Changes.

          You may also want to then add the new activities to existing pathways. Find out how to add content to pathways here

          OTS_MHF_03: Mortgage advice and the criteria to fulfil

          Minor text amends to improve word count and flow. No regulatory amends.

          OTS_MHF_04: Insurance to consider alongside mortgages.

          Minor text amends to improve word count and flow. No regulatory amends.

          OTS_MHF_05: Equity release, home purchase plans, sale and rent back and commercial mortgages

          Minor text amends to improve word count and flow. No regulatory amends.

          OTS_MHF_06: Arrears and possessions

          Minor text amends to improve word count and flow. No regulatory amends.

          OTS_MHF_07: Customer interactions

          Minor text amends to improve word count and flow. No regulatory amends.

            What's Coming Up

            In Q3 2020

          Culture and Ethics
          Anti-money laundering and countering terrorist financing
          Mortgage and home finance regulation and the various types of mortgages
          Green Finance
          Whistleblowing with confidence
          Introduction to the Prudential Regulation Authority (PRA)
          The Basics of CASS
          The Regulatory Framework
          Senior Managers regime
          Certification Regime
          General Data Protection
          Introduction to the Financial Conduct Authority (FCA)
          Senior Management Arrangements systems & Controls

            During Q2 MicroLearn has created six brand new courses. A large number of titles have also been updated across the following four suites:

            • Customer Service
            • Teamwork
            • Management & Leadership
            • Social and Corporate Responsibility

            Due to be release by the end of Q2.

          Social & Corporate Responsibility

          • Absence Management
          • Fair Treatment of Customers
          • Fraud Awareness
          • Workplace Security

          Customer Service

          • A Positive Perspective
          • Communicating with Respect

          Teamwork

          • Updated 5 Titles

          Management & Leadership

          Updated 11 Titles

            During Q2, Safety Media has created several refresher courses in their catalogue and these will be made available in the future:

          • Fire Safety Refresher
          • Manual Handling Refresher
          • DSE Refresher
          • COSHH Refresher
          • Environmental Awareness Refresher
          • Slips, Trips and Falls Refresher
          • Risk Assessment Refresher
          • PPE Refresher
          • Office Safety Refresher
          • Driving Refresher
          • General Data Protection Regulations (GDPR) Refresher
          • Equality and Diversity Refresher
          • Computer Security Refresher
          • Bribery Refresher
          • Whistleblowing Refresher

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