The threat from online insecurity is no laughing matter for organizations doing business in today’s market. Yahoo’s 2016 security breach, which comprised one billion user accounts and cost an estimated $4.8 billion for the company to deal with, is a well-known case. Yet there are many others that while not so large, cause untold damage to businesses both large and small. Considering these dangers, isn’t online security an area that your business needs to get absolutely right?

Thankfully, the Internet has many online courses for improving both personal and organizational online security. There are plenty of online security courses being offered, but we’re here to suggest five of the best. This brief list offers cutting-edge knowledge, expert opinion, and a varying level of detail. We’ve arranged our list from most basic to most advanced, to offer someone for all levels of expertise.

When these valuable resources could be the difference between business success and business insecurity, the only difficulty is deciding on which course to pick.

The Security Awareness Training course, available from online training provider Go1, is the ideal introduction to internet security for individuals who need to learn about the basics of keeping safe online.

This course is aimed at professionals with little prior knowledge of internet workings. It employs language that is easy to understand yet teaches vital lessons on security and privacy, including phishing attacks, the importance of passwords, and how to keep personal devices like mobile phones secure.

If you’re not familiar with online security or feel at risk using the internet for work-related tasks then this is the course for you. It will provide a solid foundation upon which to build your confidence online, keeping you safe from potential predators.

Security Awareness Training is extremely well priced and offers incredible value for money. Sign up!

As this course explains, online threats are all too frequent and the signs of threats too frequently ignored. That’s why Open Sesame wants to improve student’s understanding of cyber security and keep machines, and the valuable information they hold, safer than ever before.

This level of this course is ideal for anyone who knows their way around computers and the internet but lacks professional knowledge on how best to improve their online security. It’s great for brushing up on safety procedures for employees who work online a lot.

There are many aspects of online security covered in the course including the threat of phishing and social engineering, the signs to be aware of to spot a virus-infected machine, as well as safe password practice.

Understand Cyber Security is a quick but efficient way to make sure you’re safe while using the internet and it won’t break the bank.

ISACA – CyberSecurity Fundamentals Online Course

From the independent, non-profit ISACA organization (previously known as Information Systems Audit and Control Association), the CyberSecurity Fundamentals Online Course walks learners through all foundational cybersecurity principles that are the bedrock of safe online practice for business systems today.

This course stretches over a minimum of 8 hours and leaves the learner assured of their security management knowledge. Targeted at students or recent graduates who are interested in entering into the cybersecurity field, this is a course for which learners should have a good understanding of computer systems.

Some of the topics addressed are the architecture of system security, incident response, and a whole host of interesting topics around emerging online threats.

At a cost of $400 for those who aren’t ISACA members, this is a fair investment. Check out the course pack to investigate further.

Software Engineering Institute – Information Security for Technical Staff, eLearning

The Software Engineering Institute is part of Pittsburgh’s Carnegie Mellon University and offers practical techniques that security staff can use to bolster their online security credentials.

Across 13 modules the course will teach best policy for system configuration, cryptography, and incident response to name but a few topics covered.

It goes without saying that this course requires students to already hold a high-level of computer systems understanding. It is intended specifically for systems security staff and the SEI actually recommends students have a minimum of two year’s experience under their belts before thinking about enrolling.

The cost reflects the level of expertise on offer but to improve your knowledge of both systems and online security, and to add some serious weight to your CV, this is a fantastic option.

CPDforMe - 10 Week Security Audit and Training Course

At the most tech savvy end of the spectrum is the 10 Week Security and Audit Training Course from CPDforMe. Hosted by Craig Rispin, an expert in technology trends who counts IBM and Toyota among some of his clients, this is an intensive program that plunges the depths of the Critical Security Controls, as described by the world’s global standard in securing IT systems, the Center for Internet Security.

This is an information heavy course that demands its students already have a good understanding of IT systems and the internet. This isn’t for those who want to be safe sending an email. It’s strictly for IT professionals.

Teaching security controls that were first used by the US military, this is a course that can offer the information necessary to secure an entire system.

Take a look to see what the fuss is about.

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Let’s not lie to ourselves – we often see problems we don’t want to deal with. Head down, keep walking. That’s the usual decision.

Unfortunately for us, that’s often not the best choice we can make. Sure, no one wants to deal with a hazard as they’re just leaving the office to head home or walking off the site for lunch. Someone else can do it!

Like we discussed earlier, no one really likes to increase their workload when they’re already busy or just about to leave work. The reason for this is usually because we think it’ll be a drawn-out process that will unravel to prove bigger than first expected. And before this course, that might have been true.

But the consequences of not reporting hazards – particularly in workplaces where dangers are already considerate, for example, laboratories or construction sites – can be severe.


Saying that knowledge can save lives might sound a tad dramatic, but in this case, it’s absolutely true.

Knowing how to administer CPR, or properly carry out the Heimlich maneuver can be the difference between life and death for someone, and the difference between you being able to make a meaningful difference or being powerless to help.

Online courses for emergency and disaster training in the workplace are ideal ways to learn vital skills so that you or a colleague knows how to act in case of an emergency. eLearning continues to be an effective tool for in work training, and its use for emergency response is no different.

In this article, we’ll discuss the benefits of being trained for emergencies so that you’re aware of the huge help that it can be.

The first and most obvious benefit of emergency and disaster training is that it will make your workplace so much safer. Even a relatively easy technique to train, like CPR, can make a huge difference to the safety of the place you work. With over 600,000 people suffering a cardiac arrest each year, the assumption that you’re unlikely to ever use your training isn’t exactly accurate.

In the case of cardiac arrest, every minute counts. As this study states, “Each minute without treatment decreases the likelihood of survival without disability. Without treatment within 10 minutes, the survival rate is almost zero.”

Considering that in a city like New York ambulance response time hovers around the nine minute 20 seconds mark, your training could quite literally decide who lives and who dies.

Response plans to fires, earthquakes and even terrorist attacks are needed to secure the safety of each person working.

Unfortunately, workplaces are often environments that are full of stress, which can potentially increase the chances of an emergency like a cardiac arrest occurring. Make your workplace safer by knowing what to do.

Although eLearning courses for emergency and disaster response will most likely to be given through your employer, the value knowledge that you gain does not stop at the place you work. The understanding of red flags for illnesses or knowing how to deal with a fire are lessons that can be taken anywhere in life.

This extends to your family and friends; all the people you love. Would you know how to treat burns or smoke inhalation if there was a fire at home? Would you know how to compress wounds if a family member injured themselves?

The knowledge you gain from your work life is transferable to your private life and with as serious a subject as the health of those you love at stake, this is a benefit worth its weight in gold.

Online courses in emergency and disaster response training don’t only offer the very direct benefits of knowing how to act in when facing a disaster. The skills that learners acquire along the way – communication, teamwork, and leadership – are all tools that are vital to a successful workplace. Individuals who can demonstrate these skills are always in demand.

In this sense, undertaking an online course in emergency and disaster response training is, as the old saying goes, like killing two birds with one stone. Not only are learners endowed with the know-how to tackle emergency situations head on, but they also dramatically improve the “soft skills” that employers are considering as more important than ever. Not a bad day’s work!

If safety in the workplace isn’t the number one concern of each and every employer then they have a problem. The company culture that doesn’t put the health and wellbeing of employees first and foremost is not one that is likely to succeed. Employees have a right to work in a safe place, and working with individuals who are trained in emergency and disaster response can offer that.

The safety of a workplace isn’t only a legal requirement, but it can also make a huge difference to company culture as a whole. Acknowledging the importance of every individual working at an organization promotes the company understanding of their workers, in turn allowing organizations to become more dynamic and better versed in creating a happy workforce. Happy employees work better and harder, and a happy company is more attractive to potential employees and clients.

Training a workforce in emergency and disaster response is a win-win for everybody.

It is the nature of online learning that makes it such a useful medium to teach emergency and disaster response through.

A problem that organizations often have with this type of training is that it can require entire teams to stop working for days to facilitate learning. Unless your organization has the resources to cope with an entire day’s inaction, you’re unlikely to offer this service. eLearning can step in here and fill that void.

Not only is eLearning extremely effective as a tool of education, it’s also completely mobile and far cheaper than inviting experts to the office. With usernames and passwords, each employee in a company can complete their training – from their home, at their desk, or even on the bus.

Because eLearning is done online it is vastly more affordable to medium and small size businesses that would otherwise be put off by the huge bills that often come with this type of training. eLearning makes this training – that will help to safeguard the health of an entire workforce – a viable option.

When a something as important as the health of employees, colleagues, and friends is on the line, online courses for emergency and disaster response simply make sense.

Online learning for emergency and disaster training

If you run a company or organization, you’re responsible for providing your employees with a safe workplace, free from any hazards and health risks. Employers must also be compliant with current safety laws and regulations, while providing appropriate safety training for all staff. One of the most important aspects of workplace safety is the use of personal protective equipment – or PPE.

PPE equipment is worn by workers in many industries, to protect them against health and safety risks. Whether it’s the hard hats worn by constructions workers, safety eye glasses used by welders, or protective coats for lab workers, PPE gear can be life-saving. 

How are you training your employees in workplace safety? And proactively improving their awareness of the importance of PPE? Today we’ll look at how you can use online courses to help promote a safer workplace and ensure the safety and wellbeing of your employees.

Using eLearning to increase PPE awareness

When companies deliver workplace safety training to staff, it’s often presented in one solid block of training, such as an all-day orientation session or two-hour workshop. You might want to consider using online courses instead, to deliver staff training. Online training courses are available for all areas of workplace safety and compliance, including PPE awareness.

eLearning courses provide everything you need to help you deliver effective staff safety training, while making training easier and more convenient for your staff. With online training, employees can log in and complete short modules at a time and place that’s convenient to them. There’s no need for your company to book out expensive conference rooms, or hire instructors and facilitators - with online learning, you can save your company money and cause less disruption to employee productivity.

Improve employee engagement with safety training

With online training, you’ll also be providing staff with a far more engaging user experience. It’s common knowledge that individuals retain more information when training materials are made more engaging.

These days, it’s no longer best practice to have employees sit through lengthy lectures, or wade through endless workbooks. With online courses, you can provide staff with access to targeted online training activities and modules based on their specific job description. This means the course content will be more relevant and interesting to them, and they’ll be more motivated to learn and actively participate in training on these subjects.

Delivering training in a way that ensures staff are properly engaged will greatly help reduce the risk of accidents, injuries and hazards for your organization.

PPE awareness – An online course for staff training

With courses like PPE Awareness, you can make staff aware of the importance of personal protective equipment and its role in workplace safety.

Personal Protective Equipment - PPE - Health and Safety

This engaging online course explains why not taking PPE seriously can have devastating impacts. Through the eLearning materials, employees will explore the consequences of not wearing PPE and look at some common PPE types and the hazards they protect people from. Staff will also learn how to look after their PPE, and report any issues with their gear, so it can continue to look after them.

So many workplace accidents, injuries and fatalities can be easily prevented with proper investment in workplace safety training. By making the safety of your workplace a top priority, you’ll also avoid serious repercussions for your business, including loss in productivity, legal expenses, fines and insurance arising from a workplace incident. There's no doubt about it, committing to the safety and wellbeing of your employees is well worth the investment.

Improve workplace safety and PPE awareness with online training

With so many courses on offer to meet compliance standards, it can be tough selecting which courses your team should be taking. Those days are gone with Go1 Awards.

Being locked in to a set group of courses that your employees need to complete is not for everyone. Every training provider has a unique way of presenting learning content, as well as testing for competency, all while the compliance requirements associated with the topic.

Just like in many other aspects of life, people learn in different ways, and while one training providers course may be engaging to one employee, another employee may prefer the learning style of a different provider.

So why can’t your employees choose which course they want to complete? Now they can!

Go1 Portal Administrators can now create an Award, within which they can specify which courses, or sets of course can be completed to obtain certification in a particular area.

As an example, your organisation may have a requirement that all team members to complete 3 courses in leadership every year. The administrator can create an award called ‘Leadership Training’ and nominate any courses that they would like to include from your course library. The employees will then be able to chose the 3 courses that they would like to do from the list, and then be accredited with the award.

Administrators can navigate to the Awards tab in the Administrator menu. Here you can create a new award by defining the conditions and selecting the course that can be taken to meet the requirements of the training.

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Another great feature associated with the above scenario is the ability to set a reset time for each employee, so that after one year their training resets and the are required to complete another 3 courses.

This can be used across all aspects of your business to keep up with compliance in workplace health and safety, professional development elements, product training, and for tracking CPD requirements.


Awards GIF - Find & Share on GIPHY

As a user, you can find “Awards” located under the “Explore” tab. Here the user can see all of their current awards, along with their status. By clicking on a award, you can read more information.

In the past, keeping up with internal compliance has required multiple applications, and manual input. Awards simplifies the way in which you can keep track of your team, and allows you to quickly and easily access reports to prove compliance whenever you need them.

Get started with Awards today and simplify the way that you handle internal compliance.

Track your internal compliance with Go1 awards

There are many types of criminals around the world, and unfortunately, most of them rely on the good and honest nature of others to make their living. One of the simplest ways for these criminals to acquire their money and remove any trace of illegal activity from it is to “launder” it.

Money laundering usually works in three stages, and it’s the responsibility of all businesses to be able to spot the signs of this occurring and report it to the authorities when it does. Failure to do so could see you end up with a $45 million fine like Australian gaming operator Tabcorp did when they failed to notify the authorities about the suspicious behaviour of some of their customers.

An astonishing 5% of the world’s GDP is laundered each year, which equates to around $1.5 trillion. Although you might think that money laundering is only left to seedy businesses and willing participants, these people are often performing their shady deeds right under the nose of good and honest organizations - much to the detriment of the business.

Placement – this is the riskiest stage and involves placing the ill-gotten money into a legitimate business without being noticed.

Layering – this sophisticated process sees the criminal try to hide their illegal activity in a complicated layer of other transactions.

Integration – the money is returned to the criminal from legitimate sources.

What Anti-Money Laundering Training Covers

The scope of the money laundering problem we are facing in the business world today…

Why money laundering is illegal and what the penalties are for the criminals and anyone involved in the process…

Why anti-money laundering policies are so important…

The signs of the three main stages of money laundering so you’re able to put a stop to it…

Which Types of Businesses Should Be Aware of Money Laundering?

All employees have their own responsibilities when it comes to money laundering laws and penalties. When you and your colleagues don’t fully understand your obligations, you too can be held responsible for future wrongdoings!

As mentioned earlier, the Tabcorp case of money laundering was one of the largest recorded in Australia’s history. The federal court found that Tabcorp was responsible for breaching the important Anti-Money Laundering and Counter-Terrorism Financing Act (AML/CTF) on 108 separate occasions spanning over five years.

The court found that Tabcorp didn't have a robust AML/CTF program in place within the organization, and as a result, these funds were able to pass through unnoticed. Principals in this company were found guilty of assisting with this criminal activity due to their negligence, and as a result, they were fined an impressive $45 million for doing so.

When you consider the enormity of this fine and the legal ramifications, can your business really afford to lose this much money for a simple lack of knowledge? With one simple course, you can ensure you, your employees, and your business as a whole is protected from the very real threat of money laundering.

What Can You Benefit from this Anti-Money Laundering Training

If you’re still sitting on the fence about the Anti-Money Laundering training and wondering if it’s really such a big deal for you to learn, consider the fines alone that come from being involved in this illegal activity. The current maximum penalty for assisting in this crime is 14 years, and as indicated by the Tabcorp case, you can be ordered to pay into the millions.

If you’re interested in protecting your business, educating your staff, or just staying aware of the warning signs and suspicious activity, you shouldn’t overlook Anti-Money Laundering training for your team.

For more insights, be sure to subscribe to the Go1 newsletter to stay on top of all the latest L&D trends. Or, you can book a demo today to find out how Go1 can help with your team’s learning needs.

We've put together a comprehensive guide to anti-money laundering training, including definitions, benefits, and an example of what not to do from TabCorp.

Anti-money laundering training: what you need to know

As an employer, it’s your responsibility to keep your staff safe and protected in the workplace, including staying up to date with recent rulings and decisions made by the Occupational Safety and Health Administration (OSHA). This organization is committed to providing a safe workplace for all Americans, and they constantly look for ways to modernize and improve laws surrounding our work environments.

The US Department of Labor hands down final rulings on new workplace regulations to OSHA, so it’s up to the employer to stay educated on any changes. Although 2017 has only just begun, there are quite a few new rulings in place which came in over the last 12 months that could affect your workplace this year. Here we take a look at them and what kind of implications they could have for your employees.

After it was found that exposure to beryllium can cause dangerous lung diseases and possibly fatalities, it was imperative to put new measures in place regarding safe exposure in the workplace. Because many workplaces use this material, in particular shipyards, construction, and general industry environments, the rules have recently changed.

In January this year, OSHA ruled that the exposure time now allowed with beryllium will remain as eight hours, but that now there was only to be 0.2 micrograms of beryllium per cubic meter be allowed. When compared to the previous 2.0 micrograms limit, these changes aim to save the lives of over 94 workers per year. As beryllium is still an extremely useful resource in many industries, this drastic measure was crucial.

Traditionally, workplaces had to provide one set standard for fall systems in place. As studies have found that far too many injuries and fatalities were caused in this area, OSHA has now ruled that each worker can be responsible for selecting their own personal fall protection system. Other changes include prohibiting body belts as a personal fall arrest system and mandatory training on personal fall protection systems now be in place.

With the change set to affect 112 million workers at sites across the country, it’s one of the largest amendments to OSHA regulations in recent times. The prediction from this change is that 29 lives will be saved each year, and over 5,842 injuries prevented just by these small measures.

Protective equipment is a mandatory requirement for almost all workplaces, even those in the blue collar sector. However, workers in shipyards, long shoring, construction, general industry, and marine terminals now have new regulations in place about their Personal Protective Equipment (PPE).

The final ruling included a number of changes to the previous legislation, including now allowing employees to choose their own protective equipment provided it complied with the industry standard. All other changes related to face and eye protection specifically, as an area which receives a large percentage of injuries each year in the workplace.

The Importance of Educating Your Employees

Mail out – a simple email directed to all staff members whenever a change might occur in your industry is a quick and easy way to keep everyone informed.

Newsletter – have a dedicated OSHA section on your company newsletter so that people can keep up to date with any changes that might affect their job.

Bulletin board – a basic notice in the office boardroom or kitchen so that people can be reminded of OSHA updates during their lunch break.

Orientation and training – any important occupational health and safety information should be covered off in orientation and training, so ensure this is updated with the latest developments too.

SMS updates – sending a simple text message through your company software is a modern and succinct way to communicate important changes to staff.

Intranet – posting regular updates to the company’s main hub on the intranet means staff can stay informed as changes happen, as well as always have a dedicated place to visit should they want to touch up on their OSHA knowledge.

The best place to keep up to date with changes to occupational health and safety laws is directly through the OSHA website. They regularly update the website with media releases regarding rulings and new regulations in place, and it’s an essential resource for both employers and employees.

If you’re not able to keep a regular eye on their website, you can set up alerts to notify you whenever a press release is published. This way, you know every small change and ruling directly as it happens so that you can pass this information onto your employees.

2017 should be the year that you make occupational health and safety an important area of your workplace. Find new ways to involve staff in learning, have a detailed and up to date training system in place for new employees and ask for feedback from your colleagues on how you can better improve the health and safety conditions of the workplace. With a little bit of proactivity, you can avoid future disasters altogether.

What you need to know about OSHA compliance

In January 2015, Californian lawmakers introduced a change to their current legislation regarding workplace harassment. The AB2053 amendment means it is now mandatory for companies with over 50 employees to provide training, not just for sexual harassment in the workplace, but also anti-bullying in relation to this type of misconduct.

This training is specifically intended for supervisors and managers so that it now includes anti-bullying when discussing potential forms of sexual harassment. The amendment also states that bullying isn’t constituted by a single offense, unless extreme in nature, but rather by a series of events that occur.

Although California already had laws relating to mandatory sexual harassment training in place, there was nothing stipulated about bullying. Those who supported the law stated that sexual harassment in the workplace was a growing epidemic in America which needed to be addressed before it got out of hand.

The main purpose of the amendment was to ensure that harassment was stopped before it begins, which is where the focus on anti-bullying measures comes in. Proponents of this law found that abusive work environments led to a range of issues in the workplace such as low morale, absenteeism, and high turnover of staff, among other issues.

By targeting the problem before it turns into abusive conduct, which is often the case, the AB2053 amendment will hopefully lead to a reduced rate of workplace sexual harassment. Although it took many years to have this bill introduced, the steady rates of sexual harassment in the workplace had been signaling a need for change for a long time coming.

What constitutes sexual harassment in the workplace?

Not only is it important for workplace managers and supervisors to be aware of the signs of sexual harassment, so too should all employees. In some cases, the perpetrator may not even be aware that they have made someone uncomfortable so it’s important to understand exactly what constitutes sexual harassment.

Workplace sexual harassment doesn’t even need to occur in the workplace necessarily; it can be outside of work and between colleagues or at a work related function.

This harassment can come in the form of verbal, physical, or written abuse or misconduct, and includes incidents such as:

Inappropriate physical contact such as hugging, grabbing, or touching in a way that makes someone uncomfortable;

Asking intrusive questions about someone’s appearance, sexuality, or personal life;

Staring or leering at someone to a point that makes them uncomfortable.

Although it might seem unlikely to witness any of these events taking place in the workplace, the number or incidents of sexual harassment are still quite astonishing, thus making it even more important than ever to increase training and prevention.

The importance of sexual harassment training in the workplace

So, what did the state of sexual harassment incidences in the workplace look like up until now? An article published by contemporary women’s magazine Cosmopolitan highlighted that a staggering one in three women has reportedly been victims of workplace sexual harassment.

Interestingly enough, just a third of those women claim to have reported it to their superiors, meaning many of these cases aren’t even highlighted. These also don’t include the male victims, which although are even less reported than the women, are still extremely prevalent in the workplace.

As workplaces evolve and shift towards a more digital landscape, the ways in which harassment is experienced is also changing. Emails with inappropriate jokes, a link in the group chat to something explicit, or an instant message that makes the receiver feel uncomfortable are all the new and scary ways that sexual harassment can be felt in the workplace.

How these changes could help your workplace

Ensures employees are aware of expectations – when laws are reexamined in this way it gives everyone in the workplace, not just supervisors, a chance to brush up on what is expected of their conduct.

Keeps you protected if things were to go wrong – without educating your managers and supervisors on amendments such as these, you have no legal leg to stand on in a court of law as it can be argued that the education of sexual harassment was your responsibility.

Workplace bullying and harassment lead to reduced productivity – studies have found that victims of workplace bullying have decreased productivity and experience feelings of stress and anxiety on a daily basis.

What this law means for future workplaces

When implemented with a standard training and orientation package for all new employees, training on harassment and workplace conduct is the easiest way to ensure everyone is educated on the subject. Even if your workplace doesn’t meet the set requirements by law for mandatory training, there are far too many benefits not to make it a condition in your workplace.

With a huge focus on bullying and its prevention, not just in the workplace but also in schools and other environments, small amendments such as AB2053 will hopefully lead the way to a reduced rate of these incidents in all areas of society.

What Californian businesses need to know about AB2053

When you think of a compliance officer in any industry, it’s easy to imagine someone ticking off boxes on a checklist as they make their way around the organization.

While this stereotype may still be the norm for many industries, the insurance compliance officer and those in other neighboring financial industries have recently seen a few changes to their role which makes them more accountable and involved than ever before.

Although relatively young when compared to other industries, the compliance officer in an insurance company still holds a vast amount of responsibility for the company. Changes in technology, in particular, have signaled a huge shift in how this role is to now be carried out.

Gone are the days when the compliance office would offer a simple tick on a piece of paper before moving onto the next point, as the changing needs in documentation, regulations, external influences, and other arising issues make this job more complicated than ever. However, with all of this responsibility, the insurance compliance officer role is also receiving more respect at the management table than ever before.

Where once an insurance compliance officer might have access to a range of resources to complete their job, most of these are shifting towards technology based systems. The Accenture 2016 Compliance Risk Study interviewed more than 150 compliance professionals and found that 84% of their employers now relied on digital resources for their compliance.

This shift towards technology could also indicate a decrease in the physical role of the insurance compliance officer, where machines and computers may now be able to provide these checks directly with staff and cut out the middleman, effectively. Many companies which now use elearning can generally keep track of their staff’s completion of training and education which keeps their competencies up to date, further eliminating the need for a compliance officer to perform checks for themselves. 

With this movement towards technology comes a stronger need to document everything that an insurance company does. As the insurance industry is heavily regulated both internally and externally, it’s never been more important to have a clear and accurate record of a company’s activities.

By further using these digital systems, most insurance companies can keep track of every single process and procedure carried out within the organization so that senior management know exactly where possible risks may lie.

The National Association of Insurance Companies can at any time request data from a business, so the insurance compliance officer must know exactly where and how to gather this. The NAIC has even stated that any insurance company with more than $500million in direct premium must submit an Own Risk and Solvency Assessment each year to ensure everything is running above board. These new needs to report to external bodies has given the insurance compliance officer, even more, to be responsible for than before.

Along with the new reporting responsibilities, there are other issues that the insurance compliance officer must be aware of. Depending on who the compliance officer has to report to, they may find that communication needs to be more effective than ever to ensure that their findings and recommendations don’t become lost through the ranks.

According to a study, less than half of insurance companies have a dedicated compliance officer within the organization, however, this number seems to be increasing.

As the role is still being developed as such, an insurance compliance officer must be flexible and adaptable to grow with their position. This includes embracing any digital and technological processes that might become part of the role, as discussed earlier. Along with the processes and procedures that come with the role, the ever-changing regulations that govern the insurance industry also make this job particularly tricky.

One thing that hasn’t changed within a compliance officer’s role is that the rules and regulations which govern the insurance industry continually transform. What has changed, though, is the amount of new regulations to be adhered to. Where traditionally most auditing and reporting was sent directly to management, there are now many external bodies that require this information too.

The compliance officer must stay on top of any advancements in the industry to ensure that their company is protected legally and financially, and this is where a digital training plan might come in handy. By implementing eLearning and other digital systems, insurance compliance officers can be guaranteed they are receiving the most up to date information relevant to their industry so that they can stay on top of the changing regulations.

What the Future Holds For the Insurance Compliance Officer

Although the role may be expanding and the scope of responsibility becoming even greater, the shift in this position isn’t without its reward. A study conducted by Accenture in their 2016 Compliance Risk Study has shown that the changing roles of compliance officers in insurance and other related industries mean that these positions are now able to influence higher levels of management than before.

Trends are indicating that insurance compliance officers in the future will come from backgrounds in other financial sectors so that they can have a greater understanding of every aspect of the role. This deeper knowledge will give them an even further respected position within the company.

As valued members of the management team, insurance compliance officers are able to give direct and fair input on where the company should be heading as determined by these many changing regulations and issues. This role can be particularly crucial in growing a business and keeping it competitive in such a volatile market as we will likely see in the future.

For more insights, subscribe to the Go1 newsletter to stay on top of all the latest L&D trends. Or, you can book a demo today to find out how Go1 can help with your team’s learning needs.

Find out how technology has shifted the insurance compliance officer role and why they are more accountable and involved than ever before

The growing role of the insurance compliance officer

Once you have incorporated or formed an LLC, compliance should be one of your primary concerns because if you don’t adhere to state and federally mandated compliance regulations, you could face serious penalties.

We have seen a number of compliance issues making their way into the business press lately, and that’s why we felt it was a good time to review the nature of business compliance requirements for our readers.

These requirements can be broken down into two primary groups: internal requirements and external requirements.

Internal compliance refers to everything that goes on inside your company in terms of compliance.

An few examples of internal compliance: both C corporations and S corporations are required to hold annual meetings for shareholders and directors and update their bylaws as necessary. All issuance or transfer of stock must be documented as well.

Limited Liability Companies are not bound to the same regulations as C or S corps, however, it’s still a good idea to document your operating agreements and official policies so you can refer to them over time. One of the easiest ways to organize your compliance materials is to put everything together into a compliance kit. This kit should include all of your stock or membership information, bylaws, your operating agreement, your corporate seal, and anything else regarding compliance that you feel you might need to refer to in the future.

External compliance requirements are mandated by the state that you have incorporated in, as well as any state that you are registered to transact business within. In most states, for example, you are required to file an annual report so the state can monitor the activity of your company.

Another external compliance requirement is the franchise tax, which is a state tax you pay for the right to operate your business in that particular state. The amount of this tax varies from state to state, although it is usually based on revenue or corporate share value.

It’s absolutely critical to stay on top of the state laws regarding compliance—especially when it comes to due dates for fees. Different states have different rules regarding when you should submit your fees, and you may miss your payments if you don’t keep on top of the proper dates for your state!

Have you ever heard the term “piercing the corporate veil?” This is when you lose your limited liability protection due to non-compliance, and yes, it’s definitely as bad as it sounds. Once the veil has been pierced, the owner’s assets are now susceptible to legal judgements.

You always want to be in “good standing” status with the state. This simply means that you are sticking to the state’s annual or ongoing compliance regulations and making your payments on time. If you do not pay your fees on time, then the state can hit you with late fees and/or interest payments. In the worst case scenario, if you are out of good standing status too long, you may lose the benefits you receive for being a corporation.

Different industries have different federal and state-level regulations when it comes to compliance, and that’s why it’s important to have some sort of compliance training program in place for your employees. Compliance is not just a matter of administrative paperwork and fees, either.  It’s also about adhering to Federal mandates like the Americans With Disabilities Act and the Affordable Healthcare Act.

One of the most common compliance issues that companies face is harassment in the workplace. Sexual harassment, in particular, is a growing concern—and this one can sneak up on you. In fact, sometimes employees can be unaware that their actions or statements may be a problem, and that’s another reason why it’s so important to provide formal compliance training for your people.

You may choose to develop an in-house compliance program or you may refer to a third party provider for a pre-built solution. At Go1, we have thousands of free and paid resources to help you train up your employees, including detailed online learning programs for:

Preventing a Hostile or Discriminating Work Environment 

Remember: compliance is not a “set it and forget it” aspect of doing business. Instead, it’s an ongoing process where you need to keep your finger on the pulse of what is happening and what is changing with laws—on both the state and the Federal level.

A perfect example would be the Affordable Healthcare Act. Many companies did not stay abreast of the compliance requirements for implementing the Act until it was too late, and by that time they were facing costly penalty fees.

The best companies take the time to create a formal compliance strategy that can be referred to when it’s time to train new employees. This can save you a tremendous amount of time and headaches in the future…and it can also save you the expensive legal fees and penalties you face when you fall out of compliance.

Don’t wait for something to go wrong. If you haven’t integrated a sexual harassment compliance training program, for example, there are several free training resources available that you can use for on-boarding your staff. All it takes is a little bit of research and you can put a plan into place that will become a truly valuable asset to your corporation or LLC down the road.

Compliance requirements your business needs to know

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