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College putting competence system online

The Financial Services Training College is setting up a new online training and assessment system.

Ensure has been developed over two and a half years at a cost of £3m. The system aims to pick up and address development needs while keeping managers informed about the progress of staff members.

It is tailored to suit individual companies and based on periodic assessments that highlight areas of competence that an individual will need to work upon to ensure they attain the necessary standards required by their firms. Ensure then produces an action plan which refers the user to specific parts of manuals and arranges another assessment at a later date.

The system, which is available by subscription, features-learning options and additional modules to cater for regulatory updates and specific products,as well as email alerts for staff and managers and logs to track the progress of individuals over time.

FSTC executive director Paul Trew says: “It is ongoing competence, not compliance that we are interested in. Annual testing is just an event. This is much more. Ensure makes sure you are core-competent and remain competent, which adds risk reduction to the business and is good for the consumer.”

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