Client Success Story

Creating & Implementing a Single Training & Competence Framework

Background

Our client, a UK top four retail bank, had undertaken internal and external reviews of their Training and Competence (T&C) regime, both of which emphasised the need for them to implement an holistic approach to T&C across all of their delivery channels. Multiple delivery channels sold different products, in different ways to different clients and all had very different approaches to T&C. Huntswood was called in to develop, design and implement an holistic approach which would allow all channels to follow a unified approach but which still allowed for ‘channel uniqueness’. Over an intense three month period Huntswood worked together with our client to outline an approach and develop user-friendly T&C Policies and Guides.

The Challenge

Our client needed to act quickly because of logistical and budgetary constraints. The scope of the engagement was extensive as it covered various channels, products and clients. In addition, our client also sold advised and non-advised products. The existing schemes were seen as cumbersome by the Sales force but were liked by Compliance who saw them as ‘all-encompassing’; a Framework was required which would fit the requirements of Compliance but could be understood and implemented by the Sales force at the ‘grassroots’. It was essential that Huntswood was able to deploy consultants with experience of regulated sales, T&C and the retail banking sector in order that we had a rounded view of what was being delivered, and how it would be viewed by all stakeholders.

The Solution

Our approach to this conundrum was to work in partnership with our client to design a Framework which would meet the requirements of all key stakeholders.

It was apparent that much of the information currently cascaded to the Sales force was superfluous to their roles and it was agreed that a matrix approach which reflected the structure of the business would be the most appropriate way to proceed. The Framework was designed to consist of Core Policies and individual User Guides.

Core Policies lay out those policies which apply to all channels and sales staff at all times. These Core Policies are at the heart of the Framework and are laid out simply and concisely.

Various User Guides were also produced in order that each delivery channel had three User Guides which would apply to its Sellers / Advisers, Team Leaders and Managers. The User Guides were designed to be a one-stop-shop for Sellers, Team Leaders and Managers and were designed to be user-friendly whilst still containing all required information, on topics including Training Programmes, the sign-off process for competence, the need for ongoing professional development and the processes to be followed after prolonged periods of absence or where an individual is no longer considered to be ‘competent’.

The Result

Using a variety of interviews and desk-based reviews, Huntswood performed an analysis of the information and provided an understanding of what was core to all of the Sales force and what applied only to specific delivery channels or roles.

Using this information and the experience of our consultants, Huntswood was able to work with our client to develop a strategic T&C Framework and supporting documentation which is user-friendly and can be applied easily and efficiently across all areas of its retail banking business.

Huntswood’s View

Designing the Framework and supporting documentation is only the first stage in this process; real benefits will only ever be derived if the Framework is appropriately implemented, embedded and embraced by the business. Huntswood has been invited to support the client in this stage of the process, through change management, process improvement and training and change initiatives.

The competence of staff in UK financial services is seen by the Financial Services Authority (FSA) as vital in ensuring the protection of customers. The delivery and implementation of this Framework places our client in an ideal position to achieve this desired outcome, by reducing their risk of mis-selling and providing their staff with the best chance of attaining and maintaining competence and being successful.