Induction Material for GB

Introduction to compliance

 Compliance is an ability that acts according to some particular rules; in case of business compliance, two levels are present that operates. In the first level, compliance that is associated with external rules is generally imposed on an organization. However, in the second level internal systems that is generally imposed for achieving compliance based on the externally imposed rules(Alqallaf, and Alareeni, 2018).The compliance, management and risk audit functions are independent of the business. In recent years there has been much emphasis on this independence and effective capacity for action, especially the compliance function, and its relationship with the banking sector. Policies and controls should be reviewed and improved, adapting them to the evolution of the regulations, the bank's strategy and the business environment.

Compliance regulator in Bahrain

            Bahrain’s central bank is the compliance regulator, andit is attributed to the board of directors with management of each bank. It fosters these banks to act with integrity, honesty and set an example to the rest of the organization(Méric, et al, 2010).It acts as the regulator for compliance risks that the banks in Bahrain may suffer as a result of breach of laws, regulations, rules, internal regulations and codes of conduct applicable to banking activities.

            The Central Bank of Bahrain has implemented the right ecosystem to support compliance. It has implemented different new regulations to support open banking, the regulation of cryptographic asset trade and the draft regulation on theft-advisory(Alqallaf, et al, 2018).They focus on the sanctioning aspect and the losses originated for the banks rather than on the promotion of a more ethereal, but effective in the long term, a culture of compliance for the benefit of shareholders' interest. or customers.

            Bahrain's national bank has just fixed administration rules for Islamic banks, expecting them to experience autonomous outside reviews, and presented a progressively stringent system for the sharia sheets that vet their exercises. The controller is presently creating usage rules for a portion of these compliance capacities.

Significance of compliance

            Compliance is an essential element that is part of the culture of each organization. It is the better way to encourage and expand this culture than with the existence of a specific compliance function in line with Central Bank of Bahrain as the regulator(Hawaldar, Rahiman, Rajesha, & KR, 2017). It is necessary to assume compliance responsibilities with a specific organizational structure and also ensure that the decision is applicable to all of the banks.

Benefits of compliance

            Compliance helps to focus on identifying the key issues. Bulky information should be avoided and presented in a concise manner and within the specific context of what is intended to be accomplished. The relevance and accuracy of the information presented to it, as well as the lack thereof, should be periodically established by the council(Alqallaf, et al, 2018). Proper compliance helps the organization to avert substantial risks and stay ahead in the industry. It will help them to fully comply in the stipulated period of time to meet the significant deficiencies. 

Impact of non-compliance

            Non-compliance causes regulatory andreputational risks arising from breach of legal provisions, norms, standards, and codes of conductadoptedby the banking industry associated with compliance issues.Legislation and the current worldwide trend in compliance, shows a way forward and leads to awareness that compliance with all internal and external regulations, but also provides greater security and transparency when doing business in the country(Aribi, &Arun, 2015).When there is no compliance and lack of principle, it causes substantive impact on application of the principle, breach of several essential criteria and, ineffective supervision.

Ultimate responsibility for compliance

            Bahrain has a zero-tolerance policy for money laundering, and it is its purpose thatcomply with the best international practices of intellectual property protection. The organizations in the country to follow international standards ofaccounting and are encouraged to pursue good corporate governance. Central Bank of Bahrain ensures that there are strict policies and compensation provided for ensuring compliance to overall economic and financial stabilityin the country through a monetary policy consistent with the objectivesof the Ministry of Finance(Hawaldar, et al, 2017). It is also the only regulator of compliance in the financial sector.

The GRC (Governance, Risk management & Compliance) structure explained

            GRS structure is constituted on the basis of the risk appetite i.e. the way in which its internal policies work and also the various external regulations.

àGovernance – The government emphasizes on the combination of several processes that are established and executed by senior management, directors or the board of directors of the organization. These processes are generally reflected in the structure of the organization, in the way of managing and in the path that is generally chosen to achieve the objectives.Companies operating in Bahrain are expected to follow international standards and are encouraged to pursue good governance(Hawaldar, et al, 2017).

àRisk management – Risk Management deals with prediction and risks that would otherwise act as obstacles in the GB's path to achieve its goals and objectives(Méric, et al, 2010). Regulatory compliance refers to the mandatory requirements and limits that the company must comply with, which are basically the policies that are already in force.

àCompliance – The compliance is an importantelement in design of the program and lies in clearly establishing the action policies necessary to comply with all internal and external standards. It also helps to detect the risks due to non-compliance and mitigation. Failure to comply with these could result in millions of losses in companies(Aribi, et al, 2015). It helps the banking industry to be up to date with legislative developments, their regulations and their application to be able to advise internally and externally based on them.

Responsibility for compliance

            There is responsibility for compliance to establish the general framework, from which the responsibility of these financial entities is distinguished. In this sense, it is necessaryto raise the particular characteristics and nature of the relationship between the entities and the financial consumers, since its scope shows a set of duties and obligations under their charge(Ewers, Dicce, Poon, Chow, &Gengler, 2018). There are charges imposed on breach for the damages caused. The special nature of the relationship imposes on the financial institutions the fulfillment of stricter standards of diligence in line with responsibility for compliance.

Compliance team and reporting structure

            The compliance team should follow proper reporting structure of a compliance report to use in the orders that are made with the only objective of corroborating the compliance(Delbaere, & Ferreira, 2007). It should be implemented by an entity of the requirements formulated by regulators, control bodies or other entities with powers of supervision.


Importance of training

            Training is significant as it stands important in context of GB for new staff training. It comprises of all those activities that must be carried out, in order to guide and integrate the new worker with his work environment and his coworkers. Induction manual is prepared for training new employees in the organization in which they will adapt as soon as possible to their new work environment, to their new colleagues, to their new obligations and rights, to company policies within organziation context of Global Business (GB)(Aribi, et al, 2015). It also serves to mitigate the feelings and sensations that new members have when they are incorporated into the organization.

Who  should train?

            The training is offered to the new staff hired in the organization. It is provided by the existing staffs who are assigned with the role of the organization. They will be responsible for training the new staff in all of its areas, as well as supervising the development of the activities.Consecutively, every worker has the right to have the coach employer provide them with training that allows them to raise his standard of living and productivity. It is also provided in accordance with the induction material prepared, plans and programs formulated for training the organization(Méric, et al, 2010).

Training groups – department centric or hierarchy oriented?

            The training groups are fostered as department-centric provided by coaches in different departments. The head of each department appoint a coach for each department to train new staffs in the respective areas(Iqbal, &Molyneux, 2016). Induction programs is usually the responsibility of the Human Resources department, however, being an indissoluble part of the internal communication process, the entity's Communication area must play a key role in its preparation, implementation, evaluation and improvement.

Frequency of training

            Training is offered during a time frequency of the one month during the probation period. It will familiarize the new employees

Mode of training

  • A conference or course in which the general characteristics of the company are explained to the new employee.
  • The projection of an institutional video, a movie or a slide show on the same topics.
  • A tour of the facilities of the company or organization, where you will be shown the key areas: the clock, security areas, bathrooms, etc.
  • Presentation of the partners other departments with which they will interact, in addition to the heads.
  • Receive the new element with a personalized workspace with an induction kit, which includes Point of Purchase material, the documents needed and a badge with the staff name so that the rest of the team locates it as new and knows their name.
  • Welcome manual with the key information required by the worker in his first days in the company.
  • The new procedures manual is given to the new collaborator for the position he will perform, as well as his professional profile with the responsibilities he must assume in his job(Molyneux, et al, 2016).
  • Schedule a rotating plan in which the person exercises key operational positions of different departments for a while so that he can get to know the business more thoroughly.
  • Follow-up to the new collaborator through a training plan and assign a coach that is usually a partner of the same department and of the same departmental level that acts as a reference in front of doubts, inconveniences or ignorance of how to perform a certain task(Delbaere, et al, 2007).

Guidance on compliance

Compliance matrix

    It is associated with the Entity's ability to comply with legal, contractual, public and general ethics requirements with its commitment to the community.The compliance matrix consists of the identification and analysis of the factors that can affect the achievement of the objectives set, so it is necessary to determine how to minimize them, taking into account the economic, regulatory and operational conditions.

Online learning portrayal

            Online learning portrayal of the general information of company is considered relevant for the knowledge and development of the position must be provided remotely. It is depending on specific aspects considering the organization as a system(Molyneux, et al, 2016). However, it is important to consider that all the personnel of a company are sellers or promoters of the same, which makes an orientation of all towards the same fundamental corporate image.

End of module assessment?

            There will be an end of module assessment for the induction and training program to be effective. It is to allow the potential of the new person to be prosecuted in the same direction as the company's objectives, therefore, it is considered that every induction process must basically contain three stages that go into concordance with the adequate promulgation and knowledge of these;

àGeneral induction: general information, production process and the general policies of the organization,

àSpecific induction: orientation to the worker on specific and relevant aspects of the trade to be performed, &;

àEvaluation: evaluation of the induction process and taking corresponding actions.



Time frame

            The time frame of the online learning portrayal is during the probationary period of the employee who is submitted to theinduction process(Delbaere, et al, 2007). The fundamental purpose of an induction program during the time frame is to ensure that the new employee identifies the organization as a dynamic system of internal and external interactions in permanent evolution, in which a good performance on his part, will directly affect the achievement of corporate objectives.

Online learning assessment

            Online learning assessment are important as the results generated from these assessments, serve tocomplement the information that allows the immediate GB to carry out theevaluation of the new staffs. It helps to ensure that the mechanism and process for the provision of work is necessary that the management staff explained through the online learning assessment with the induction material.

Mandatory requirements

            Basic elements such as the general presentation of the organization and its policies, safety aspects, situations related to the employment contract, training and development programs specific to its occupation, and risk factors among others, can be presented as great obstacles to achieve good coupling and facilitate the rapid development of the activities for which a person was hired(Ewers, et al, 2018).Even when it is at the moment, at the beginning of any work, that support, security and acceptance are most needed to achieve the adaptation and integration of personnel, in order to favor the beginning and development of the sense of belonging by the company.



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