5 reasons to sponsor an employee’s ICA qualification

Written by Dave Robson on Wednesday June 16, 2021

Many employers all over the world now recognise the value of ICA qualifications in increasing the confidence and ability of their staff, and indeed ICA Diplomas are often listed as pre-requisites for new compliance and anti money laundering (AML) roles. The learning provided improves staff knowledge, employee engagement and can give your business a tactical edge against risk.

Here are five reasons that funding a course for your employee can be a wise investment.

1. Reduced risk

ICA qualifications are essentially centred around risk mitigation: legal, criminal, reputational – all of which have huge impacts if your business fails to avoid the danger. If your organisation doesn’t have a proper grasp of these risks, it can’t respond appropriately. Ignorance of risk is not a defence: any risk you are unaware of, you have tacitly accepted, especially in the eyes of regulators or the public if you are caught out.

2. Return on investment

What your employee learns now could save your organisation thousands later, both in real costs and resources. Prevention is invariably better than detection. Be proactive by ensuring that your people are armed with the best skills and up-to-date knowledge, rather than reactive once you’ve already run into trouble.

3. Competitive advantage

If your employees understand the risks, they can work with you to make an informed choice about how your organisation should respond, and use that to then beat the crowd. Your organisation’s reputation will be enhanced and doors will open, increasing the potential for new clients.

4. Improved quality output

ICA qualifications don’t just train learners in academic concepts and international frameworks. They empower them to perform better by taking a practical approach to real-life issues that they encounter in their day-to-day role. They will learn best practice and gain knowledge from other like-minded professionals on their course.

5. Commitment to professionalism

By investing in your employee, it shows your commitment to the ongoing development and professionalisation of your staff – helping to make your business an employer of choice. A motivated and empowered workforce also aids staff retention as it shows how much you value them. Furthermore, a development programme that incorporates external, professional qualifications should also impress your business’ audit teams and regulators.