London (UK), October 2017 - A programme from Financial Times | IE Business School Corporate Learning Alliance has been shortlisted for one of this year’s Learning Technologies Awards. It’s the first time that this corporate learning provider, formed almost three years ago, has entered these Awards.
Its programme has been mentioned for the Learning Technologies Awards in the "Best use of learning technologies to ensure compliance – international" category for its work for the Spanish arm of the international bank, Santander.
New Markets in Financial Instruments Directive (MiFID II) European regulations require all professionals who sell or advise on financial instruments to be certified by January 2018. In response, Santander commissioned FT| IE Corporate Learning Alliance to create a customised, certification based training programme for 12,000 staff and agents to ensure full MiFID II compliance.
The project, which produced an engaging on-demand, seven-module programme, involved participants in multiple locations and was delivered on time to meet the bank’s MiFID II training deadline. The goals were achieved by designing a programme in line with Santander’s own values that was “simple, personal and fair”.
FT | IE Corporate Learning Alliance created a new certification-based programme around the knowledge criteria and competencies required by the EU regulator that allowed mass training with the flexibility of "learning at your own pace" and support throughout the course.
To meet the roll-out demands of the large number of users, an online platform was created that could reach all 12,000 participants simultaneously. A system of smaller cohorts of 80 participants was also designed to allow the monitoring, tutoring, and management of participants’ progress during the first year of the programme.
The training will continue at Santander for three years to meet the needs of the bank’s new hires.
All sessions, training materials, presentations, videos, and exercise documents, provided in Spanish, were made available on the online platform at all times to allow participants to study at their own pace. Cohort members were encouraged to progress together, and support was given to any individuals who fell behind so that they could all take the final MiFID II exam at the same time.
The online platform allowed participants from across Spain to access the course content remotely. Because the regulator required the exam to be taken in person, FT | IE Corporate Learning Alliance worked with an exam logistics provider, Cegos, to organise different sessions in key strategic locations across the country.
The pass rate of the first cohort of the exams was 74%.
The Learning Technology Awards 2017 winners will be announced 29 November at a gala dinner in London.