How Colombia’s Securities Market Self-Regulator Trains and Certifies Professionals Through Open LMS
The world’s ongoing digital transformation brings new challenges for companies that aim to differentiate themselves through innovative new products, services, or skills. In the case of Colombia’s securities and foreign exchange market, certification of candidates has similarly had to change in innovative ways.
Adriana Cárdenas, Certification Manager at the Securities Market Self-Regulator (Autorregulador del Mercado de Valores or AMV, in Spanish), shared her experience leading corporate training processes during Open LMS’ Innovation Summit 2021.
During the session, Cárdenas explained how important it is for financial entities to have the ability to build new online learning processes. She stressed that the AMV aims to be at the forefront of these processes by offering courses that allow financial agents to certify their ability to participate in the industry.
To that end, candidates interested in joining AMV-member companies must validate their ability to apply their knowledge and abilities in current technical, conceptual, ethical areas. Typical member companies includebanks, brokerage firms, trust companies, insurance companies, AFPs, financing companies, financial corporations, public entities, or investment fund managers.
In order to create a virtual campus suitable for training and evaluation processes, AMV acquired Open LMS’ learning management system. The objective was to create the ideal online learning environment to facilitate certifications.
Implementing a Continuous Online Education Model
By implementing Open LMS, a dynamic, easy-to-use, and intuitive platform, the AMV can evolve its ability to evaluate candidates based on scenarios they will face in a job setting. Through comprehensive and standardized certification processes at an international level, AMV can vet candidates against job roles. With eLearning, the AMV can also offer a continuing education model that reduces the time and cost traditionally spent on exams. "We are moving away from the exam model to a continuing education model, meaning that contents are no longer exams but courses" noted Cárdenas. This new way of operating has changed how processes are carried out, creating a much simpler and personalized experience where each learner can receive immediate feedback.
Professional Online Certification
Professionals wishing to register to the National Registry of Securities Market Professionals (RNPMV, in Spanish) must complete a mandatory stock market certification that lasts between three to four years. Doing so allows them to perform specific functions in an advisory capacity, via product management, or by leadership of certain areas within financial institutions. This allows professionals to stay at the forefront of international processes and standards which have begun to be implemented in the country.
Open LMS’ ongoing support guarantees adaptable, scalable, and technologically capable tools to support AMV’s evaluation system, courses, and previous certification. By partnering with Open LMS, the AMV has the capacity to offer financial education programs aimed at current and future investors through lectures, educational material, and academic visits.
The Advantages of Online Certifications for Financial Professionals:
1. Assessments: Quizzes within the eLearning allow learning creators to offer immediate feedback and recommendations as learners progress.
2. Continuous education: Knowledge reinforcement, complementary courses, greater capacity for practice, and an asynchronous methodology that allows students to progress at their own pace.
3. Use of information technology: reduced operational risk, enhanced reputation, standardization, reducing time and cost spent on education.