Helping financial services firms meet regulatory requirements and maximize efficiency
Financial services firms need to constantly adapt to meet the challenges of an ever-changing business environment. But 55% of them say they lack the modern skills to innovate. Only 28% of employers believe their people are ready for the new challenges ahead.1
Assessments pinpoint strengths and weaknesses across the workforce. They enable employers to focus training where it’s really needed, to ensure their teams have the agility to adapt.
Banks worldwide paid over $14bn in penalties during 2020.2 As the industry embraces new working arrangements, it’s more important than ever that employers are confident their staff understand the rules of the game.
Assessing employees regularly can help embed a culture of compliance across the business.
Learn about transforming decision making in financial services in our white paper.
Learn about establishing key skills and building a successful sales force in our white paper.
Satisfy regulators and meet compliance requirements
With staff certification and compliance programs.
Create a culture of compliance
Assessments can help embed a culture of compliance with employees.
Identify areas of risk
Tests can help to identify areas of weakness or risk among teams and business functions. Appropriate action can be taken.
Identify high potential
Tests can identify high-potential and predict who is likely to rise within the business. Questionmark Thinking Skills by Cambridge Assessment tests problem-solving and critical thinking.
Test skills pre-hire
Ensure that recruits have the skills to hit the ground running. CVs often fail to reveal a candidate’s true ability.
Recruit remotely
As face-to-face job interviews and test centers become harder to arrange, employers can get vital information while eliminating travel and observing social distancing measures.
Create onboarding plans
A clear read of a new hire’s current experiences and skills makes it easier to anticipate what training and induction will be needed.
Predict future training needs
Through understanding someone’s current abilities, employers can identify which skills will need to be developed.
Ensure integrity of professional qualifications
A range of proctoring and security features for high-stakes assessments such as professional qualifications.
Core features
Unlimited number of test-takers
The platform can assess an unlimited number of test-takers from anywhere in the world.
Range of assessment formats
Make use of a range of assessment formats including ‘multiple choice’, ‘drag and drop’ and many more.
Instant access to results
Tests are automatically marked and results are instantly compiled. Trends and patterns are easy and quick to spot.
Item analysis
Drill-down into item statistics to help understand how effective the questions being asked are. Available statistics include item difficulty p-value, high-low discrimination, item-total correlation discrimination, item-rest correlation discrimination and item reliability.
Create bespoke content
Create world-class assessment content to meet several different needs.
Secure testing
For high-stakes assessments that may need to be delivered remotely.
1 https://www.pwc.com/gx/en/ceo-survey/2019/Theme-assets/reports/financial-services-talent-ceo-survey-trends-report-2019.pdf
2 https://finbold.com/bank-fines-2020/
