Compliance is more than a requirement — it’s a competitive edge. Regulations shift, financial crime evolves, and client expectations grow. Without knowing exactly where your team’s knowledge and skills falls short, you risk non-compliance, inefficiencies, and missed opportunities.
A Training Needs Analysis helps you identify these gaps and ensure your training is targeted, strategic, and effective. Whether you’re a boutique venture capital firm or a large investment management group, a proper training needs analysis is the key to unlocking a workforce that is both compliant and high-performing.
If you have already defined your firm’s training needs and require eLearning, Adempi’s eLearning platform offers financial services firms a robust solution to close skill gaps and boost compliance — and could be just what you need.
Book in a meeting to explore our eLearning offering for practical, impactful training that works, today.
A quick note about us: Awarded 'Best Training Provider' at the 2023 Compliance Register Awards, Adempi Associates delivers high-quality compliance eLearning, tailored to the unique needs of financial services firms. With over 40 courses available online, we provide training that ensures your team stays competent, confident, and compliant.
Why is a Training Needs Analysis essential?
The financial services landscape is constantly evolving — from regulatory changes like Consumer Duty to new risks in financial crime and cybersecurity. Without a clear understanding of what your team needs to know, training can become a scattergun approach, leading to wasted time, resources, and missed opportunities for growth.
A well-executed training needs analysis ensures:
1. Compliance Gaps are Proactively Identified: Stay ahead of the curve by pinpointing knowledge gaps before they become compliance risks.
2. Resources are Efficiently Allocated: Focus your training investments on areas that genuinely need improvement, avoiding generic solutions that miss the mark.
3. Training is Aligned with Business Goals: Ensure your team’s development supports wider business strategies, enhancing both compliance and commercial performance.
4. Employee Engagement is Boosted: Tailored training that addresses real needs leads to more engaged employees who see the relevance of their learning.
5. Your Workforce is Future-Proofed: With the rise of financial crime threats, cybersecurity risks, and market abuse concerns, a training needs analysis helps ensure your team is prepared for what lies ahead.
A Training Needs Analysis isn’t just about ticking boxes — it’s about future-proofing your firm. By understanding where skills gaps lie, you can ensure that your team remains compliant, capable, and competitive.
In a sector where mistakes are costly and reputations are hard-earned, a thorough training needs analysis helps you stay proactive, not reactive. The result? Training that’s strategic, effective, and aligned with your firm’s goals, keeping you one step ahead in an ever-changing financial landscape.
Steps to conduct a Training Needs Analysis
If you’re ready to elevate your team, start with a clear commitment to training and
development from the top.
When leadership prioritises and consistently reinforces the importance of growth across all levels, it sets the stage for success.
Here’s a step-by-step guide to conducting a training needs analysis:
1. Define Your Objectives
Start by identifying your firm’s strategic goals. Are you aiming to strengthen compliance with specific regulations, such as AML or Consumer Duty? Do you need to improve knowledge around financial promotions or market abuse? Understanding these goals will guide your training priorities and ensure they align with business outcomes.
2. Assess Current Competencies
Evaluate your employees’ current skills and knowledge through surveys, interviews, performance reviews, and AI-driven assessments. For those who are evaluating larger teams where time may be a constraint, even a simple snapshot of where your team stands can help identify key gaps and focus your training efforts efficiently.
3. Identify the Gaps
Compare your employees’ current competencies with the desired skill set. For example, do your teams fully understand their responsibilities under the SM&CR Conduct Rules? Is there sufficient knowledge of financial crime prevention, or are there potential vulnerabilities?
4. Prioritise Training Needs
Not all gaps are created equal. Prioritise them based on urgency, potential risk, impact on business performance, and their effect on profitability. Focus on the areas that are critical for compliance, operational resilience, and delivering the biggest return on investment.
5. Develop a Tailored Training Plan
Create a plan to address these gaps using a mix of solutions tailored to your team's needs. Beyond courses and workshops, consider leveraging in-house expertise through mentoring programmes, knowledge-sharing schemes, job shadowing, or secondments. Combining these approaches ensures training is relevant, engaging, and cost-effective, while efficiently plugging knowledge gaps.
6. Implement Training with Flexibility
Roll out the training in a way that works for your firm and the content that is being delivered — whether through on-demand eLearning or live workshops. Flexibility ensures employees can access training without disrupting their workday.
7. Evaluate and Adjust
Training isn’t a one-and-done exercise. Use continuous assessments to measure the effectiveness of the training and make adjustments as needed. This helps ensure ongoing compliance and competency.
How Adempi's eLearning Platform Supports Effective Training Needs
Once you’ve identified your training needs, you need effective solutions to address them. Adempi’s eLearning platform plays a crucial role in this process, offering financial services firms an efficient and engaging way to close skill gaps and boost compliance. As part of a broader training strategy, it helps ensure your team stays competent, confident, and compliant.
Here’s how:
Established, Client-Focused Platform with In-Depth Market Expertise
Adempi’s eLearning platform builds on a proven track record of delivering bespoke training, underpinned by extensive sector knowledge. This trusted approach ensures your team receives high-value, industry-specific content that addresses real-world compliance challenges.
Engaging, Tailored, and Pragmatic Content
The platform offers over 40 on-demand courses with engaging animations and immersive content tailored to your firm’s size and sector. Combined with Adempi’s pragmatic, commercially driven approach, the training resonates with employees and provides actionable insights they can use daily.
Responsive and Flexible Course Development
Adempi’s collaborative approach means they can quickly develop bespoke courses to meet your firm’s unique needs. This flexibility ensures your training stays aligned with evolving regulations and business priorities, fostering long-term client satisfaction.
Continuous Knowledge Assessment and Retention
The platform features AI-powered assessments to help measure and reinforce employee competence. This continuous evaluation ensures knowledge is retained and compliance standards are consistently met across your organisation.
Ready to close your training gaps?
A thorough Training Needs Analysis sets the foundation for a compliant, confident, and capable workforce. Adempi’s eLearning platform is the perfect partner to help you address those needs with tailored, engaging, and effective training solutions.
Book a demo today to discover how Adempi can help your firm stay compliant and thrive in an ever-evolving regulatory landscape.
Contact us or book a demo today to make compliance training engaging, practical, and impactful.
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