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Creating an Effective Regulatory Compliance Training Program: Everything you Need to Know

If you’re looking to hire a trainer for regulatory compliance training, you’re in the right place. In this article, we will go over the basics of regulatory compliance training, the common deliverables, industries that require it, and how to properly build and deliver an effective training program.

What is Regulatory Compliance Training?

Regulatory compliance training is a type of training that ensures employees are aware of the laws, regulations, and company policies that govern their work. This training is essential to ensure that employees are following the correct procedures and are aware of the consequences of non-compliance. Regulatory compliance training is typically delivered in a classroom setting, but can also be done online or through other forms of digital learning.

Common Deliverables for Regulatory Compliance Training

The most common deliverable for regulatory compliance training is a compliance training program that includes a set of training materials, such as presentations, videos, and quizzes. These training materials are used to educate employees on the company's policies and procedures, as well as any relevant legal requirements. Some training programs may also include role-playing exercises, case studies, or simulations to help employees apply the information they have learned.

Industries That Require Regulatory Compliance Training

Regulatory compliance training is required in many industries, including healthcare, banking, finance, and manufacturing. Some of the specific regulations that require compliance training include HIPAA, Sarbanes-Oxley, and OSHA. Companies that do not comply with these regulations can face significant fines and legal consequences.

Training Roles Relevant to Regulatory Compliance Training

There are several roles that are relevant to regulatory compliance training, including:

• Compliance Officer: Responsible for overseeing the company's compliance with laws and regulations.
• Training Manager: Responsible for creating and delivering training programs.
• Subject Matter Expert (SME): Provides expertise on the regulations and policies that are relevant to the company.

How to Hire for Regulatory Compliance Training

When hiring for regulatory compliance training, it is important to look for a candidate with experience creating and delivering compliance training programs. Look for candidates with a background in instructional design, adult education, or a related field. Also, look for candidates with experience working in the specific industry that requires compliance training.

Building and Delivering Effective Regulatory Compliance Training

To build and deliver effective regulatory compliance training, it is important to:

• Identify the regulations and policies that are relevant to your company
• Create training materials that are tailored to your company's policies and procedures
• Provide hands-on training that allows employees to apply what they have learned
• Assess employee knowledge and provide feedback to ensure that the training is effective

Why Companies Must Do Regulatory Compliance Training Effectively

Companies must do regulatory compliance training effectively to avoid legal consequences, mitigate risks, and ensure that their employees are following the correct procedures. For example, in 2019, the Department of Justice announced that it had recovered more than $2.6 billion from false claims act cases, many of which involved allegations of non-compliance with healthcare regulations. Companies that do not comply with regulations can face significant fines and legal consequences, and can also damage their reputation.

What Happens When Regulatory Compliance Training is Not Done Effectively

When regulatory compliance training is not done effectively, employees may not be aware of the regulations and policies that govern their work, which can lead to non-compliance and legal consequences. For example, in 2017, Wells Fargo was fined $185 million for creating millions of unauthorized accounts because of its aggressive sales practices. The company's employees were not adequately trained on the company's policies and procedures, which contributed to the non-compliance.