Supporting Risk Management and Learning Development Initiatives Through AML eLearning for Class A Banks
The Client: Our clients include leading Nepalese Class A Banks and Insurance companies. Typical learners for the Anti-Money Laundering (AML) eLearning course are branch managers and senior branch employees, with a participant count ranging from 900 to 1500 employees per bank.
Background: Anti-Money Laundering training is a mandatory requirement set by Nepal Rastra Bank (NRB). Traditionally, banks conducted these trainings through resource persons at various branch locations. However, the conventional approach faced several challenges:
- Excessive resource utilization: Resource persons were overburdened with repetitive AML introductory sessions.
- Scheduling limitations: Not all employees could attend sessions simultaneously, causing delays in compliance.
- Lack of transparency: Limited visibility into course coverage and employee understanding.
- Alternative limitations: International eLearning alternatives lacked customization aligned with NRB directives.
Solution: To address these challenges, Gumboot Learning offered an off-the-shelf AML eLearning course tailored to meet NRB’s latest directives. Additionally, 10% customization was incorporated to reflect each bank’s unique processes, including KYC, risk governance, and operational workflows. Key features of the solution included:
- Comprehensive Content:
- 21 interactive lessons covering KYC, risk assessment, AML governance, trade-based money laundering, and digital transactions.
- Case studies and simulations relevant to the Nepalese banking sector.
- Adaptive Learning Design:
- Toll-gated assessments after every 7-10 lessons to reinforce learning outcomes.
- Customization of bank-specific sections such as unique KYC practices and governance processes.
- Real-Time Certification:
- Online certifications generated upon course completion and assessment success.
- Pan-Nepal Coverage:
- Over 300 branches participated, ensuring a wide geographical reach.
- Ongoing Support:
- Bimonthly performance and course completion reports for transparency.
- Regular updates to the content to incorporate new NRB guidelines and insights.
Impact: The year-long engagement not only ensured compliance with NRB regulations but also significantly optimized resource allocation and employee training efficiency. By transitioning to eLearning, banks achieved:
- A streamlined AML training process.
- Greater employee accessibility and convenience.
- Enhanced transparency in lesson completion and assessment tracking.
Gumboot Learning remains committed to supporting the financial sector with customized eLearning solutions that align with regulatory requirements and organizational goals.
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