Modern Slavery

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Course Description

Modern slavery can affect any country; the United Nations estimates there are more than 40 million victims of modern slavery worldwide. Modern slavery can occur in any sector or industry, and at any point in a supply chain. High-risk industries include fashion, agriculture, hospitality, construction, electronics and extractives. The risk of modern slavery occurring in supply chains increases for organisations that have extensive, complex or global supply chains.

This three-module course covers what modern slavery is, its prevalence in supply chains, and how its use can most effectively be prevented by organisations. Both modules contain practical scenarios relating to issues affecting organisations with modern slavery in their supply chains. These scenarios equip staff to identify and take steps to prevent modern slavery from occurring in their supply chains.

Who is this training for?

This training is suitable for a wide variety of staff including those working in procurement, compliance or risk roles as well as those working in a front-line capacity.

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Course Outline

  • Module 1: Introduction to the prevention of modern slavery
  • Module 2: Preventing the use of modern slavery in supply chains
  • Module 3: Australia-wide modern slavery laws

National Consumer Credit Protection

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Course Description

In 2010, state and territory-based credit laws were moulded into a national approach known as the National Consumer Credit Code. With it, a large range of requirements and obligations were added, leaving many to wonder how their organisation would be affected.

This course explains in plain English what the main requirements are and how to comply with them.

Who is this training for?

The course is aimed at all organisations who engage in credit activities. It is specifically suitable for customer-facing staff as well as their managers who need to have a deeper understanding.

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Course Outline

  • Module 1: Introduction to the new credit regime
  • Module 2: Licensing
  • Module 3: Licensee obligations
  • Module 4: Responsible lending
  • Module 5: National Credit Code

FATCA – US Indicia Training Module

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Course Outline

  • What FATCA is
  • The indicators that show a US link on an account
  • The steps required when you identify indicators of a US link on an account

Retail Banking Compliance Suite – USA

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Course Description

This is a series of short courses to train banking staff on what they need to know to comply with some of the most important banking laws

Significant penalties apply if a financial services business fails to comply with these fundamental consumer protection laws. This series of courses have been written by our expert financial services staff to equip banking staff to comply.

These short, single-module courses provide an overview of the relevant laws, and introduce staff to the relevant legal requirements. They include illustrative scenarios and short summative quizzes to allow staff to demonstrate mastery of the subject material.

The courses available are

For more details, click on the course names above.

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For more details, click on the course names above.

Who is this training for?

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

Scenarios

The training is enlivened by the use of scenarios throughout, that relate the material back to real-world situations that learners may face. The scenarios are supported by formative questions that provide guidance and feedback to learners.

[…]banks can’t afford not to comply. Banks that aren’t on top of the changes being made to the rules and don’t swiftly make business adjustments to comply with those changes, subject themselves to fines, reputational damage and potentially expensive litigation.  There are numerous examples of banks making headlines for the past transgressions and paying the prices as a result.  In 2013 alone, the agency collected $49 billion in penalties.

Forbes The Four Things Every Bank Should Be Doing Now To Protect Consumers August 182014‍

Course Outline

  • Introduction to Fair Credit Reporting Act (FCRA)
  • Fair Lending
  • Introduction to the Office of Foreign Assets Control (OFAC)
  • Introduction to Regulation Z and the Truth in Lending Act (TILA)
  • Introduction to Regulation CC and the Expedited Funds Availability Act
  • Introduction to Regulation E and the Electronic Funds Transfer Act
  • Introduction to Regulation D: Reserve Requirements
  • Introduction to Regulation DD and the Truth in Savings Act

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Introduction to Regulation D: Reserve Requirements

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Course Description

This training is for banking staff on the limitations that apply to withdrawals from various types of account

Bank staff need to understand the way Regulation D limits the number of withdrawals that customers can make from particular types of accounts using “convenient” methods.

This short, one-module course introduces bank staff to the requirements of Regulation D that ensure banks, credit unions and other financial institutions have enough funds available to be able to meet customers’ requests to withdraw money from their accounts. It describes the limitations on withdrawals from certain types of accounts, depending on the withdrawal method, and provides information on the types of accounts that are not subject to these withdrawal limitations. It includes real-life case studies.

The course also briefly introduces the Federal Reserve’s regulation of the amount of cash reserves that financial institutions must hold.

Who is this training for?

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

Scenario

Jasmine likes to keep her money in a savings account where it earns interest. She works from home as a baby-sitter and has regular expenses for food, milk, diapers etc. She has these delivered to her home and likes to pay her suppliers on-line because it’s more convenient. She needs to make one or two payments each week.

Will there be a problem with the frequency of transactions?

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

  • Give an overview of the purpose and operation of Regulation D
  • Understand which transactions are limited under Regulation D
  • Describe the penalties and charges under Regulation D

Customer Owned Banking Code of Practice

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Course Description

This series of five computer-based training modules aims to help train frontline staff to recognise different customer types at the time they open an account. The package also includes the Ready Reckoner of Types of Entities.

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Course Outline

  • Module 1: Individual Accounts: covering individuals, joint accounts, sole traders, partnership, agents, deceased accounts, children’s accounts and business names
  • Module 2: Company Accounts: covering proprietary, public and foreign companies
  • Module 3: Co-operative and Association Accounts: covering registered co-operatives, incorporated associations and unincorporated associations
  • Module 4: Trust Accounts: covering informal trusts, formal trusts, statutory trusts, professional trusts and trust accounts linked to superannuation and managed investments
  • Module 5: Government Accounts + Final Quiz: covering Commonwealth, State and Territory governments, including their agencies and authorities, as well as foreign government bodies. At the end of this module there is a quiz that requires participants to draw on the knowledge from all five modules

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Fair Lending

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Course Description

This training covers what banking staff need to know about the laws and regulations prohibiting discrimination in the extension of credit to consumers

Discriminatory lending can lead to legal and reputational risks for a financial institution. This course will provide an overview of the five laws and regulations that cover discriminatory lending practices, and assist staff in complying with them.

Bank staff need understand that discrimination is not always obvious, and in fact illegal discrimination can take three different forms: Overt, Disparate treatment, and Disparate impact. This short, single-module course covers those forms of discrimination and gives examples.

The course also introduces learners to the five relevant laws and regulations and discusses their functions and the ways in which they work to protect Americans from wrongful discrimination in financial matters

Properly trained staff can help protect a bank from the risk of being prosecuted for discriminatory practices

Who is this training for?

The course is a suitable introduction for all banking staff, particularly those who deal with consumers applying for credit.

Scenario

Madison is applying for a loan with Smart Credit Bank for a new condo she wants to purchase. She has a stable job as a librarian at her local high school, though is also receiving Social Security Disability Insurance after being injured in a car accident last year. Despite proving that she has a steady stream of income and appears to meet Smart Credit Bank’s stated eligibility requirements, she receives an email a week later stating that her application has been rejected.

Has Madison been unlawfully discriminated against in this situation?

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

  • Become aware of the three types of illegal discrimination and how they differ
  • Identify the five laws and regulations that make up Fair Lending practices and prohibit discrimination for consumers
  • Understand the resulting actions of illegal discrimination
  • Learn ways to avoid discrimination throughout the credit process

ePayments Code

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Course Outline

  • Module 1: Introduction to ePayments
  • Module 2: Disputed ePayments
  • Module 3: Mistaken ePayments

Basics of Banking

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Course Description

This course consists of short modules, timed to take less than 15 minutes, each focused on an area of banking knowledge that staff need to be familiar with. There are six modules, which can be purchased separately: • Key Regulators • The Banking Business • Customer On-Boarding • Key Players in the Financial Services Sector • And two modules providing an introduction to customer management. More modules will be produced in response to  customer demand.

The modules have summative quizzes. Optionally, the quizzes can be presented at the beginning of each section, allowing learners to bypass areas where they can already demonstrate mastery, thus saving time and improving the learning experience. The modules include scenarios that provide a background to the material covered and its importance in day-to-day banking operations. Where relevant they also include Quick Facts Sheets that learners can download and keep as an aide memoire.

Who should do  this training? The course is suitable for staff undergoing induction and ab initio training in a bank, credit union, building society or similar institution.

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Course Outline

  • Module 1: Key Regulators
  • Module 2: The Banking Business
  • Module 3: Customer On-Boarding
  • Module 4: Key Players in the Financial Services Sector
  • Module 5: Dealing with Customers
  • Module 6: How to Support Challenging Customers

Anti-Money Laundering – USA

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Course Description

In an increasingly interconnected world economy, organizations of all sizes are becoming increasingly vulnerable to being used for money laundering and terrorist financing. Since financial institutions are particularly susceptible, they face wide-ranging reporting and monitoring requirements under federal law.

GRC Solutions’ Anti-Money Laundering course equips staff to respond to these challenges, by helping learners to identify common money laundering techniques, such as placement, layering, and integration, and to apply strategies for protecting your organization.

This course explores the risk that money launders pose, outlines the KYC and due diligence obligations of financial institutions, and explains requirements under terrorist financing law. We also give learners practical tips on how to assess customer risk and monitor suspicious activity.

This coursecovers topics from initial customer identification procedures to development and implementationof anti-money laundering programs.

There are plenty of examples, case studies, and scenarios. The design uses rich, interactive visuals that highlight the key concepts without overwhelming or distracting learners.

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Who is this training for?

This training is suitable for employees of financial institutions that offer: bank account-related services, loans or finance, currency exchange, investment banking, credit cards and money instruments, insurance, or securities, futures, or commodities trading.

Scenario

Robert Howard comes into ABC Bank and wants to deposit $25,000 into his account. He has been a customer of ABC Bank for 25 years and has always been classified as low-risk.

But recent transaction monitoring by ABC Bank has revealed large amounts of money being withdrawn out of his account. Some of the money has been transferred to low-interest accounts and then withdrawn to be used. These withdrawals are unusual for Robert’s account, which has had little activity for 25 years.

The only information ABC Bank possesses about Robert is that he owns two restaurants, a nightclub and a car wash.

What level of money laundering risk does Robert pose?

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Course Outline

  • Module 1: Introduction to money laundering
  • Module 2: The risk of money laundering
  • Module 3: KYC obligations
  • Module 4: Suspicious and threshold transactions
  • Module 5: Terrorist financing

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