INDI 5.2.1 Appropriate programme to be delivered
(1) An authorised firm must design, deliver and maintain an appropriate ongoing training and competency programme for individuals who perform a controlled function or the customer-facing function.
(2) The programme:
(a) must be relevant, timely and appropriately structured;
(b) must ensure that individuals who perform a controlled function or the customer-facing function are aware, and have an appropriate understanding, of:
(i) their roles, responsibilities and obligations;
(ii) the firm's processes in so far as they apply to each individual's role;
(iii) any reports that they are required to make; and
(iv) the sources of information for making the reports; and
(c) must include policies, procedures, systems and controls on how the firm is to decide whether individuals are competent to perform a controlled function or the customer-facing function.
(3) In designing its training and competency programme, the firm must consider the following:
(a) the individuals' differing needs, experience, skills and abilities;
(b) their differing roles and levels in the firm;
(c) the degree of supervision over, or independence exercised by, them;
(d) the availability of information needed for them to perform their roles;
(e) the nature, scale and complexity of the firm's business, including:
(i) the products and services it offers or provides, and proposes to offer or provide; and
(ii) changes to those products and services and to the market;
(f) the firm's customers;
(g) the outcome of reviews of the individuals' training and competency;
(h) any analysis showing areas where training needs to be enhanced;
(i) the regulatory system, including any recent, or reasonably expected, changes to it.
(4) In designing the programme, the firm may also consider any other relevant matter.
|Amended by QFCRA RM/2019-4 (as from 1st January 2020).|