Structure Changes of Corporate-Finance Departments
Question: How are the structures of corporate-finance departments changing given the economic crisis?
Answer:
According to a survey of 591 executives in February to March of 2009 by a major business journal, the structures are hardly changing at all. Many respondents stated that their company has not given CFOs any more formal responsibilities, nor has the amount or speed of centralization increased at all.
The reluctance or inability of these departments to change their structure suggests a need for better training. It is crucial for these institutions to make sure that the individuals they are retaining are the most qualified and the best way to ensure this is to make sure that employees in corporate finance and at the institution as a whole are properly trained.
Institutions can help themselves by doing the following:
Training new employees on policies and procedures and providing refresher training for all other staff members to ensure that each person understands the latest legislation and compliance issues.
Providing customers with assurance that the bank is in full compliance with the latest laws and regulations to protect their assets.
Ensuring that records of compliance are up-to-date and easily accessible to any regulatory agency that may request them.
Maintaining records of training completion for all staff members.
The Edcomm Group
The Edcomm Group Banker's Academy is a 22-year-old multimedia training company, recognized by USA TODAY as the training provider of choice for the banking industry. The Edcomm Group Banker's Academy offers programs such as Compliance, Teller, Bank Secrecy Act (BSA), Anti Money Laundering (AML), Basel II, EEO, Sexual Harassment, Elder Financial Abuse, Credit Risk Management, Fraud Prevention, Mortgage Fraud Prevention, Security, Ethics, Collections, Foreclosures, OSHA, Lending, Sales & Service, System Simulations, System Conversions, Leadership, Operations Management, and individual job training and career development through http://www.jobtraining.bankersacademy.com. To learn more, please contact Dr. Linda Eagle, President of The Edcomm Group Banker's Academy, at +1.212.631.9400 or linda.eagle@edcomm.com, and visit us on the web at http://www.bankersacademy.com.
BankersOnline is a free service made possible by the generous support of our advertisers and sponsors. Advertisers and sponsors are not responsible for site content. Please help us keep BankersOnline FREE to all banking professionals. Support our advertisers and sponsors by clicking through to learn more about their products and services.
Print Friendly!
Email This Article!
Discuss NOW!
