Armagh Credit Union
Training Policy
This policy was adopted by the Board of Directors of
Armagh Credit Union Limited.
Signed:
------Position ______
------Position ______
Date:
Contents:
1. Introduction
o Policy Statement
o The importance of Training
o Roles & Responsibilities
o Training Liaison Officer
2. Training Needs Analysis
o Identification of Training Needs
o Staff Appraisals
o Requests from Personnel for Training
o In-House Training
3. Induction Training
4. New Role or New Product Training
5. Performance Related Training
6. Mandatory Training
7. Personal Development
8.Minimum Training
o Core Training
o Non-Core Training
9. Finance
o Budget
o Payment of Expenses
o Incentive payments to staff
o Payment of Overtime to staff members
10. Other Issues
o Feedback
o Training Materials
o Annual Review
o Register of Training1. Introduction
Policy Statement
Armagh Credit Union recognises that its most important resource is its personnel, both paid and voluntary. It is committed to the training and development of these people so that they will gain the necessary skills and knowledge to reach their full potential. This will assist in enabling the credit union to achieve its aim of providing the best and most professional service to our members. This policy respects equal opportunities and applies to all personnel, both voluntary and professional.
The requirement for training will arise in the following specific circumstances:
è When a new Volunteer or Employee joins the credit union.
è When a person is taking up a new role or a new product or service is being introduced by the credit union. This is particularly true where the new role is in one of the key areas of financial risk for the credit union operation, i.e. treasurer, lending or investments.
è When a need for training is evident from a person’s performance.
è Where training is mandatory due to a legal or regulatory requirement.
è For the personal development of a volunteer or staff member (in the interests of both the person and the credit union).
This policy deals with training under each of these headings.
The importance of Training
Training is an essential feature of modern business and helps to ensure that the highest quality services are provided to members in an efficient and professional manner. The Board of Directors of Armagh Credit UYnion is responsible for ensuring the provision of appropriate training to ensure that the standards necessary to meet current governance and regulatory obligations are met. Directors and Supervisors receive training appropriate to their roles within six months of their appointment and additional training is provided where any changes are made to current standards or where training needs are identified in the Training Needs Analysis (see below).
Roles & Responsibilities
The Board of Directors ensures that all personnel (Directors, Committee Members, Supervisors, Staff, etc.) are competent in their roles and understand their obligations. This aspect of governance is vital in protecting the safety and soundness of the credit union. To achieve this objective, the Board appoints an individual (TLO) to plan and co-ordinate training in the credit union on an ongoing basis.
Training Liaison Officer (TLO)
Rule 125 of the registered rules of the credit union states that “the Board of Directors shall appoint a Training Liaison Officer, the duties of whom shall include the carrying out of, or cause to be carried out, a training needs analysis for credit union personnel to help co-ordinate training programmes”.
The TLO’s role is:
§ To carry out a Training Needs Analysis (TNA) at least once a year,
§ To provide to the Board of Directors in September each year a detailed training plan for the following year,
§ To report to the Board of Directors in September each year on training carried out in the year just completed,
§ To investigate suitable sources of training and ensure that personnel are informed of what is available. Basic details should be posted on the credit union’s internal Notice Board.
§ To maintain a relationship with suitable training and education providers,
§ To accept and evaluate requests for training from personnel during the year,
§ Where a need for training is identified and approved, the TLO will source a suitable training course that provides good quality training at a reasonable price.
2. Training Needs Analysis
Identification of Training Needs
The TLO is responsible for ensuring that a Training Needs Analysis (TNA) is carried out annually following the staff appraisal and discussion with the Staff Liaison Officer. The TNA is discussed at the September Board meeting each year.
Staff Appraisals
Training needs for staff may also be identified as part of the annual appraisal process. This may result from deficiencies in staff performance or from identified development opportunities.
Requests from Personnel for Training
Where personnel request training that is not part of the TNA, but which is directly related to their role in the credit union, each request is assessed on its merits. The following criteria will be evaluated:
§ Benefit or potential benefit to the credit union;
§ Relevance of the training to the individual’s current or planned role;
§ Benefit to the individual;
§ Time off required;
§ Cost.
In-House Training
Where training needs are identified that are relevant to personnel in general or to a significant percentage of personnel, the TLO arranges for training to be carried out in the credit union building or in a suitable local venue.
3. Induction Training
All new personnel receive appropriate induction training when they start their role in the credit union. The training is carried out by an experienced member of staff, Board of Directors or Supervisory Committee as appropriate. It may also be carried out by an external body, such as the Irish League of Credit Unions. The extent of the training depends on the level of relevant experience of the inductee but in general covers the following:
§ The nature and ethos of credit unions;
§ The structure of the credit union;
§ The roles of the various parties in the credit union;
§ The credit union operation, e.g. how it operates on a day to day basis and use of the IT system.
§ The credit union’s policies covering areas relevant to the person.
§ Statutorily required training, including Anti Money Laundering, Health & Safety and manual handling training.
4. New Role or New Product Training
All personnel taking up a new post or role within the credit union receive adequate training to allow them to fulfil their obligations to an acceptable standard. This training is typically done “on the job”. When a new product or service is introduced by the credit union, all relevant personnel must receive adequate training to enable them to offer the product or service to members in a professional manner. The TLO ensures that quality training is sourced for this purpose.
5. Performance Related Training
Where a development need is evident in the performance of a volunteer or staff member of the credit union, he or she is required to undertake training to remedy the situation. Development needs may be identified in the following ways:
§ As part of the individual’s annual appraisal process,
§ As a result of an error made by an individual,
§ As a result of a member complaint,
§ From observation of performance by the credit union manager, SLO or other qualified person.
6. Mandatory Training
§ Mandatory Training – Where training is mandatory for a person’s role or part of that role (e.g. anti money laundering training), the credit union will pay the full cost of such training. Where there is more than one provider of the relevant training, the TLO is responsible for ensuring that the best quality and value is obtained.
7. Personal Development
Where a volunteer or staff member wishes to undertake training that is not directly related to the operations of the credit union, he or she must present a case to the TLO. The TLO will perform a preliminary assessment of the case and will then present it to the Board (or to a relevant committee) at its next meeting. The Board (or committee) will then decide on the following:
a) Whether or not it will provide some or all of the funding for the training, and
b) How much time off it will allow.
If the Board so approves, the credit union will allow up to a maximum of 3 day leave with full pay prior to examinations. A total annual budget set by the Board, currently £2000 is available for the personal development of volunteer and staff member. Where the credit union pays in excess of £500 in respect of fees for a course, the recipient must commit in writing to repay the fee if he or she leaves the credit union in that time, all fees must be refunded to the credit union.
8. Minimum Training
Core Training
For the purposes of this policy, core training is defined as training that is directly related to or specific to the credit union operation. It may relate to an individual’s current or future role in the credit union. Alternatively, it may be required to enhance an individual’s general knowledge or skills, for personal development or to enable a person to assist in decision making.
a) Directly related to current role – This credit union expects all personnel (volunteers and staff) to partake in training directly related to his or her role in each calendar year. The TLO ensures that personnel are individually informed about suitable training courses.
b) Not directly related to current role – Where people wish to receive training in an area that is not directly related to their current role, but which is related to the operation of the credit union, such requests must be made to the TLO and approved by the Board.
Non-Core Training
Non core training may be taken instead of core training if, in the opinion of the TLO, the subject of the training could enhance the person’s role in the operation of the credit union or is likely to be of benefit to the credit union in the future.
9. Finance
Budget
The credit union is committed to the training and development of its personnel and is prepared to pay for this training, subject to there being some benefit or potential benefit for the credit union. The training budget for the year will be set at the September Board meeting and will be based on the Training Needs Analysis prepared by the TLO. For the current year the total is £5000, £2000 for personal development and £3000 for mandatory training and continuous management development.
Payment of Expenses
The credit union reimburses personnel for expenses validly incurred in travelling to and from training courses. It also pays for meals where these are not included in the cost of the course.
Incentive payments to staff
The Board recommends incentive payments at the end of the year to staff based not only on their overall performance during the year but on what relevant training course they took during the year.
Payment of Overtime to staff members
Where possible, training courses should take place during normal working hours. Where this is not possible or where a staff member is required to travel to or from an approved training course outside of normal working hours, overtime may be paid. Alternatively, the staff member may opt to take time off in lieu, but the date and time that such leave must be agreed in advance with line management.
10. Other Issues
Feedback
All personnel who complete a training course are required to provide brief feedback on the course.
Training Materials
All training materials remain the property of the credit union unless otherwise agreed by the TLO.
Annual Review
At its September meeting each year, the TLO presents a review of the training provided to personnel during the year. This review incorporates the type of training provided and the feedback from personnel.
Register of Training
The TLO maintains a register of all relevant training courses undertaken by personnel. This includes the course title, venue, provider, cost, name of participants, and duration in hours.
Armagh Credit Union is authorized and regulated by the Financial Conduct Authority and Prudential Regulation Authority: Registration Number 573925: Version Dec2015