What Are the Benefits of In-Company Training for Financial Institutions?
In every industry, professional training fulfills a very valuable need to keep up-to-date with all developments in the sector and compete in the international marketplace. This is certainly true of financial institutions such as investment banks, asset and fund managers and as a result of this there are numerous training programs available for institutions like this today.
For businesses in the finance sector, there is the choice of attending many popular public courses that take place around the globe. These can include a variety of useful topics, such as risk management and operations, corporate governance training, corporate finance, wealth management, UCITS Funds, FATCA Compliance and many more.
On the other hand, there is an equally large number of in-company training courses, which can be specifically tailored for the institution in question. Courses that are constantly in demand worldwide include those on operational risk management, corporate finance, asset management, regulatory and compliance and much more.
Whether you and your institution are looking for corporate governance training or instruction in the area of regulatory compliance, there are many advantages to taking in-company training over registering for public courses; here are a few of the major reasons why.
The first of these is that it is essentially a more cost-effective option to receive any training in-house. Although there are many public training courses in key locations around the globe, to give two major examples - sending a large number of staff members to these locations can cost the institution unnecessary time and money.
This, however, may not be such of an issue for financial institutions that are situated in locations where many finance and management training courses are run. If this is the case, the costs associated with travel may be significantly reduced and therefore the option to attend a public training course becomes financially viable again.
This does, however, mean that the learners will have to travel to their public training course on the specified dates and at the specified times; in-house training, on the other hand, gives the institution the possibility to organize the training at their convenience.
With the variety of different specialists working for a financial institution, in-company training programs can allow the company to plan training to fit in with everyone's schedules. Logistical issues regarding travel are also eliminated, as participants are simply required to make their way to another part of the building not leaving their work places for too long.
Probably the biggest advantage of in-company training programs, however, is the fact that these can be customized very specifically to the institution or company organizing it. Case studies and examples are a fantastic way to bring some of the harder-to-grasp concepts to life, and these can come directly from the business itself.
The training provider will also be able to cover specific topics depending on the institution and the employees it is delivering training to. It will also be able to cater for different levels of learners, whether they are complete beginners or have a more advanced knowledge of the topics covered. This also avoids some of the generic themes of public training courses.
There are many advantages of opting for in-house training courses rather than requiring employees to participate in public ones. These include saving on time and logistical costs, benefiting from customized course content and drawing on real company examples, and having the training conveniently fit into company schedules.
Regardless of the whether you settle for a public training course or an in-house one, the most important factor in the success of the course is the quality of the program and instructor. The best programs are delivered by trainers who have been working within the sector so they understand very well the challenges of the business and can relate well to participants. Make sure that you seek out a training provider that can meet all of the needs and requirements of your company.
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