Swiss regtech company Indigita SA has launched a new e-Learning course on the topic of compliance in the credit business, aimed at professionals working for Swiss financial institutions. The training has been developed in collaboration with BRP Bizzozero & Partners SA and provides participants with the relevant knowledge to ensure compliance with current regulations, guidelines, directives, as well as cross-border rules.
The new course enables Swiss banks to train employees working in credit-related functions on the mitigation of administrative, legal and criminal risks associated with their role. By completing the training, participants will build up crucial knowledge of relevant external legal frameworks, internal regulations, governing bodies, formal requirements and requirements related to the actual substance (content-related), potential cross-border issues, and specific rules on consumer credits and mortgages.
The training enables participants to understand the purpose of a credit facility and recognise the origin of the pledged assets. The course further explains how to assess the financial capacity of the debtor, calculate the value of the pledge and consider any applicable sanctions regime.
The training is divided into six chapters and explains how credit activities are ruled by a set of different laws: Banking Act (BA), Embargo Act (EmbA), Code of Obligations (CO), Anti Money Laundering Act (AML), Consumer Credit Act (CCA) and Financial Services Act (FinSA). In addition, the training addresses the relevant sections of the Swiss Bankers Association (SBA) guidelines.
To ensure credit-related activities are performed in a compliant manner, internal guidelines are equally important, since FINMA may consider the violation of internal rules a breach of the Banking Act. To mitigate this risk, the training provides general recommendations regarding internal guidelines and explains which rules and processes must be considered.
The e-Learning course takes participants step-by-step through the different topics and combines theory with gamification elements to create an engaging learning experience. The training does not require any prior knowledge of the topic, takes approximately 45 minutes to complete and concludes with a final assessment to test participants’ learning progress.
The new course "Compliance in Credits" represents a further addition to Indigita’s extensive e-Learning solutions portfolio and is available in English as of now.
More information on Indigita’s e-Learning offering: https://www.indigita.ch/e-learning