TFS To Take Compliance Training Mobile

Toyota Financial Services is looking to add mobile capabilities to its compliance training courses to accommodate employees’ busy schedules, Linda Iannone, the captive’s chief compliance officer, said last week during a panel at the 2017 Auto Finance Risk & Compliance Summit.

“A lot of our executives and team members travel, and to make [training] enabled through a mobile device — whether that’s an iPhone or an iPad — I think, will improve the ability of our team members to take the training,” she said. The company is also “moving in a different direction” with its vendor training program, Iannone added.

Previously, all first-party vendors operating under the TFS name, and independent third-party vendors used to have to go through the same training. Now, third-party vendors will go through their own internal training, and TFS will review the results.

“We are giving them comments to ensure it covers the right content, and also relying on them for completion rates and to make sure that the right people have taken the course,” she said. “They submit that documentation to us, and we review it and retain it for our records.”

The change has already begun “to a small extent,” and is meant to reduce confusion for third-party vendors who may have several training courses for a variety of companies. “We absorb a little more of the work ourselves and use our intern al compliance business and resources to help review that,” she said. “I think that will be a better approach for us.”