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AML Awareness Training: Is it suitable for microlearning? The pros and cons

December 9, 2020

Here at SILO Compliance we have introduced several microlearning modules to keep our own staff training fully relevant and up to date. They generally take about five minutes to complete and we find they’re an efficient way to keep our team informed, particularly nowadays when, like you, we are working remotely, struggling with home and work responsibilities and juggling flexible work schedules and workloads.

So now, whenever we need to adjust policies or procedures, we simply create a new training or informational video at little or even no additional cost and upload it into our library of videos for staff members to watch at their convenience. And because Anti-Money Laundering (AML) awareness refresher training is a regulatory obligation, we produced a series of five short videos, each of 5-10 minutes duration, allowing our customers to roll out their annual AML Awareness training to their staff using the SILO system.

But is microlearning an ideal method for AML Awareness training?

For the compliance and regulated industries, we believe that the overall answer is yes. Gone are the days of dragging employees into a boardroom or auditorium for a half day of training at the expense of revenue-generating activities. Many businesses simply cannot afford to maintain that model of staff training; and many staff members, now often working in isolation or remotely, can no longer physically attend those long, in-person training sessions.

And yet … we acknowledge that the one disadvantage of microlearning is that it may occasionally fall short of providing staff members with a holistic view of the material being presented.

When your team needs to be able to connect the dots and understand the deeper undercurrents and interactions of the material, short bursts of information may not be ideal to reflect your organisation’s compliance culture and meaning of your AML Awareness training. In fact, the microlearning modules may send the wrong message about how importantly your company takes AML compliance.

In some circumstances it might be better to combine old and new training techniques by presenting the microlearning modules alongside Q&A sessions (remotely if necessary) to encourage deeper discussions. The more traditional, in-depth, formally-presented training sessions are necessary when rolling out a new system or some big changes to AML policies and procedures or when introducing a new compliance manager.

Everybody familiar with AML Compliance knows that it’s never a one-size-fits-all, box-ticking exercise. Our constant mantra here at SILO is that what works for a larger organisation may not work for small and mid-sized businesses, despite the fact that they are required to comply with the same AML compliance obligations.

While some businesses may decide that microlearning modules for AML Awareness training are their only practical option nowadays because of staff workload, whereabouts and schedules, others may still prefer the traditional route.

That said, if you can satisfy yourself that microlearning modules meet your immediate AML Awareness training objectives, a microlearning module can be a comprehensive, quick and economical solution.

But we ask you to bear in mind that this past year has brought a lot of changes to everyone, so your AML Awareness training courses for 2021 are going to need to be planned very carefully to ensure you are bringing sufficient awareness to your staff.

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