Introduction to Regulation CC and the Expedited Funds Availability Act

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Course Description

This training is designed to help banking staff understand the time-frames for customers to be able to draw against funds they have deposited

The law requires banks, when customers deposit funds into their accounts, to tell them how long it will take before the funds are available to them. Staff need to understand these requirements.

This short, single-module course outlines the types of transactions where banks are required to make funds available to customers the next business day, and the exceptions to these requirements. It also covers those transactions that are excluded from the next business day rule. Staff who complete the training will be able to explain these rules to their customers.

The course also introduces staff to the Check Clearing for the 21st Century Act, so they can understand the technology that enables banks to safely comply with the next business day rule.

It gives an overview of the applicable penalties for non-compliance.

Who is this training for?

The course is a suitable introduction forall banking staff who deal with borrowers including credit card holders.

Scenario

Jasmine, who runs a small baby-sitting business from home, needs to make a $500 up-front payment to a new supplier in order to open an account to purchase baby food.

Jasmine has just received a $400 check from a client for the last two month’s baby-sitting and she wants to use the funds from that check to make the deposit payment to her new supplier.

How soon will Jasmine be able to make her payment to the new supplier?

Retail Banking Compliance Training

This course is part of the Retail Banking Compliance Suite

The courses available are

For more details, click on the course names above.

Course Outline

  • Explain the purpose and function of Regulation CC
  • Give a general explanation of the transactions that have short hold periods
  • Discuss transactions that may have longer hold periods and explain where you can get the details

Introduction to Regulation DD and the Truth in Savings Act (TISA)

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Course Description

This training is for banking staff on the information that must be supplied to customers when opening banking accounts

Regulation DD was designed to help consumers make more informed decisions about the accounts they open and so to foster healthier competition between financial institutions, in order to promote financial stability.

This short, one-module course introduces bank staff to the purposes of Regulations DD and TISA. It describes the types of accounts subject to the regulation, the type of information that must be supplied, and the times when it must be supplied. It includes real-lifecase studies.

It also introduces truth in advertising requirements that apply to the sale of savings products.

Who is this training for?

The course is a suitable introduction for all customer-facing banking staff.

Scenario

Jasmine, who runs a small baby-sitting business from home, was handling her finances using her savings account. Because things became more complex, Jasmine decided to open a different account that will allow her to pay her suppliers and invoice her customers more efficiently.

Jasmine is wondering what sort of new account she should open, and which bank she should open it with.

Retail Banking Compliance Training

This course is part of the Retail Banking Compliance Suite

The courses available are

For more details, click on the course names above.

Course Outline

  • Explain the purpose of Regulation DD and TISA
  • Describe the types of accounts covered
  • Describe the types of information required to be disclosed to consumers and when it must be disclosed

Introduction to Regulation E and the Electronic Funds Transfer Act

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Course Description

This training is for bank staff on rights, liabilities and responsibilities of businesses and their customers in electronic fund transfer systems

Much of Regulation E outlines the procedures consumers must follow in reporting errors with EFTs and the steps a bank must take to provide recourse.

Banks’ liabilities with respect to problematic e-payments are a daily cost of doing business. This cost can be minimized if bank staff are properly trained in the various requirements, timelines etc, and are able to advise their customers accordingly. Failure to comply, on the other hand, subjects a bank to significant penalties.

This short, one-module course sets out the rights and responsibilities of consumers and of banks when there is an EFT error. It includes a real-life case study.

Who is this training for?

The course is a suitable introduction for all customer-facing banking staff.

Scenario

Jasmine is checking her bank statement on-line. She notices an entry relating to a $600 purchase three days ago at a fruit and vegetable store in another city. Jasmine has never been to that store.

Jasmine checks further and discovers a few other, smaller purchases that she did not make.

She checks her pocketbook and discovers her debit card is missing. Jasmine realizes that she must have left it in a drug store when purchasing milk last week.

What should Jasmine do to try to get that money back?

Retail Banking Compliance Training

This course is part of the Retail Banking Compliance Suite

The courses available are

For more details, click on the course names above.

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Course Outline

  • Explain the purpose of Regulation E and the Electronic Funds Transfer Act
  • Describe the responsibilities and liabilities of consumers who discover that their debit card may have been lost or stolen
  • Describe the responsibilities of banks when an EFT error is reported to them

Introduction to Regulation Z and the Truth in Lending Act (TILA)

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Course Description

This training is for banking staff on their responsibilities and liabilities under the truth in lending law

There are severe penalties for lenders that do not comply with the truth in lending laws – staff training is a crucial part in ensuring that a lending business maintains compliance in this area.

This short, single-module course gives an overview of the many elements of TILA as they apply to both open-end (eg credit card) and closed-end (eg home lending) loans. TILA covers more than the requirement for lenders to provide clear and consistent loan information that allows consumers to make informed decisions about credit contracts. It also covers repayment procedures, right of rescission, limits on fees, dispute resolution, assessment of a borrower’s capacity to service a loan, record keeping, and more. Contact staff need to be aware of all these issues in order to avoid jeopardizing the business’ compliance with the law.

The training also outlines the penalties and other sanctions that apply in cases of non-compliance.

Who is this training for?

The course is a suitable introduction for all banking staff who deal with borrowers including credit card holders.

The Truth in Lending Act was passed in 1968 to help clear up confusion in the credit and lending markets that left most consumers dazed about exactly what they were signing up for.

Debt.org, America’s Debt Help Organization

Retail Banking Compliance Training

This course is part of the Retail Banking Compliance Suite

The courses available are

For more details, click on the course names above.

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Course Outline

  • Explain the purpose of Regulation Z and TILA
  • Identify the main components and what it covers
  • Recognize required disclosures and when they are used
  • Promote understanding of the penalties for violations of TILA

Introduction to Risk Management

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Course Description

“Everyone can benefit from Risk Management training.”
Alf Esteban, Protecht

We are pleased to offer Protecht’s popular Introduction to Risk Management course. This course introduces the concept and nature of risk as it relates to a range of organisations using a variety of concepts to aid topic understanding.
Chapter 1 identifies the nature and behaviour of risk and explores concepts such as Risk Awareness, Risk Acceptance and the risk lifecycle. It describes how different types of controls minimise risk, and considers the types of risks usually faced by financial institutions.
Chapter 2 considers the aims, objectives and key components of the Risk Management process within an organisation. It expands on the concept of the risk lifecycle, as illustrated by a Risk Funnel chart. It explains the 3 Lines of Defence Model and the various Risk Management Standards and methodologies used globally.
Chapter 3 explores the Risk Management process as defined by ISO 31000 and AU/NZS, and explains how Risk Management tools apply to business processes.

WHO IS THIS TRAINING FOR?

This training is suitable for those seeking an introduction to the field of risk management and those who need to have a broad understanding of risk management.

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Course Outline

Module 1 : The nature and types of risk

Module 2 : Risk Management, Frameworks and Standards

Module 3 : The Risk Management Process

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Introduction to the Office of Foreign Assets Control (OFAC)

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Course Description

This training is for banking staff on how to avoid dealing with sanctioned countries, businesses and persons

There are severe penalties for banks that commit OFAC violations. Staff need to understand how the OFAC works and how to avoid committing violations.

This short, single-module course gives an overview of OFAC, is functions and how it works. The training provides an overview of the Sanctions List and the sorts of individuals and entities that may be included in it.

Learners are introduced to the compliance obligations that OFAC imposes on banks and given information on how they, personally, should act to support the bank in meeting those obligations. The penalties for non-compliance are discussed.

Who is this training for?

The course is a suitable introduction for all banking staff who on-board customers or who handle customer transactions.

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Scenario

Jasmine is an executive officer at My Save Bank, which has its head office in Ohio. While undertaking an audit of pending transactions, she discovers a number of large sums of money being transferred to a foreign national in Yemen. Jasmine is concerned that the account name and details look suspicious and are not what My Save Bank would typically deal with.

What should Jasmine do next?

Retail Banking Compliance Training

This course is part of the Retail Banking Compliance Suite

The courses available are

For more details, click on the course names above.

Course Outline

  • Explain the background and purpose of OFAC
  • Describe who must comply with OFAC
  • Explain the purpose of the SDN list
  • Promote understanding of the penalties for violations, civil and criminal

Introduction to Trade Finance

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Course Description

Trade is not without risk for buyers and sellers, and international trade has certain features that enhance that risk.

In a globally interconnected world trade has become a part of our daily lives. This prominent feature of the global economy has developed and matured over hundreds of years and is a tribute to human ingenuity to cooperate for mutual benefit. However, trade is not without risk for buyers or sellers and international trade has certain features that enhance that risk. Banks have traditionally played a crucial role as facilitators to mitigate the risks inherent to international trade. This training will review features of international trade, focus on the financing of trade and in particular on the role that banks play.

The Introduction to Trade Finance e-learning course has especially been designed by subject matter experts to provide banking professionals with an overview of Trade Finance and the role of Financial Institutions.

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Link with Trade Based Money Laundering

On completion of the course you will have developed a good foundational understanding of global trade and how companies settle their international commerce. Therefore this course, in combination with i-KYC’s TBML course, will also be valuable for learners who are still developing their technical Trade Finance knowledge.

Who should do this training?

This course is suitable for:

  • Client-facing Commercial Bankers
  • Trade & Commodity Finance specialists
  • Customer support staff
  • Risk Management analysts
  • AML Compliance officers.

Download the course outline here

Specialized Financial Economic Crime Training

GRC Solutions is thrilled to collaborate with leading financial crime advisory firm, i-KYC, pairing their premium content library with our award-winning Salt Learning technologies to improve your approach to addressing Financial Economic Crime (FEC).

Download our brochure here

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Course Outline

Module 1: Introduction

  • Fundamentals of International Trade
  • International Trade Governance & Risks
  • Introduction to Trade Finance

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Module 2: Trade Settlement Methods

  • Clean Payments
  • Documentary Collections
  • Letter of Credits
  • Guarantees

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Module 3: Risks & Roles of Banks

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Module 4: Knowledge Check

Introduction to Fair Credit Reporting Act (FCRA)

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Course Description

This training covers what banking staff need to know about consumer credit information regulation

Often called Regulation V, the FCRA defines the way consumer credit history can be collected and stored; the purposes it may be used for; and the rights of consumers to access it, monitor its use and seek to correct errors.

Bank staff need to be familiar with the FCRA in order to

  • Understand how the bank may collect and use consumer credit information
  • Know how to assist bank customers in accessing their rights under the legislation

 

This short, single-module course provides an introduction to the way the FCRA works, discusses the various rights that consumers have under the FCRA, and outlines a number of special rights relating to identity fraud.

Who is this training for?

The course is a suitable introduction for all banking staff, particularly those who are customer-facing.

Scenario

Gabriel is considering taking out a loan for $20,000 with Highest Power Finance to cover the purchase of a new car. Before taking out the loan, he wants to check his credit score with Equifax. He receives the report a week later and applies for the loan, but his application is rejected.

What action can Gabriel take under the FCRA in response to his rejected loan application?

Retail Banking Compliance Training

This course is part of the Retail Banking Compliance Suite

The courses available are

For more details, click on the course names above.

Course Outline

  • Identify the purpose of the FCRA
  • Understand the key components of the Act
  • Recognize the rights of the consumer
  • Explain penalties for non-compliance under FCRA

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Insider Trading

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Course Description

Many organisations have a large number of employees who could come into contact with confidential information that could affect the share price of a listed company.

Are all of your employees familiar with insider trading laws? A person does not need to be an employee of a stockbroker or merchant bank to be caught by these laws.

Many listed companies have a large number of employee shareholders. Those employees should know when they can trade in the company’s shares.

Who is this training for

This training is suitable for anyone who comes in contact with confidential information regarding the share price of a listed company, such as:

  • personal assistants
  • senior managers
  • staff in mail rooms
  • IT departments

Custom courses

We have two versions of this course available:

  • Generic course
  • Insider Trading for Financial Services Organisations

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Course Outline

  • Module 1: Introduction to insider trading
  • Module 2: Who is an insider?
  • Module 3:What is trading?
  • Module 4: Trading in Your Companys Securities?

 

Financial Services Regime

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Course Description

The financial services industry has undergone major reform over the past decade. From the introduction of the Corporations Act 2001 to the establishment of the Financial Services Regime (FS) and the launch of the Future of Financial Advice (FOFA), financial services providers face a complex set of compliance requirements. This course explains those requirements in plain, engaging English.

Financial services cover a wide range of activities, including banking, superannuation, insurance, managed investments, options, derivatives, securities, broking, futures and other financial investments.The Salt Compliance Financial Services course will help you understand the underlying laws that relate to financial services compliance across all industries.

Additional modules can be developed for specific financial services products, such as managed investments, derivatives, banking and insurance. However, this foundational course applies to all financial services businesses.

Who is this training for?

This training is designed for staff at any level within a financial services organisation that could be exposed to a risk of breaching the current laws.

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Course Outline

  • Module 1: Introducing Financial Services Regulation
  • Module 2: Australian Financial Services Licences
  • Module 3: Disclosure Obligations
  • Module 4: Reporting Obligations
  • Module 5: Market Misconduct