Rolling out risk management e-learning module for a leading NBFC

Aditya birla

Name of Client: One of India’s leading NBFC

Title of the Project: #DeRisk Program (consisting of 5 e-learning modules)

Year and duration of the project: 2019 and ongoing

Scope of the Project:

The organisation is the holding company for the financial services businesses of a construction group. It is among the top 5 private diversified NBFC in India. It has a strong presence across Protecting, Investing and Financing solutions and also is a universal financial solutions group catering to diverse needs of its customers across their life stages. Powered by more than 20,000 employees, the subsidiaries of the organisation has a nationwide reach with 850+ branches and more than 2,00,000 channel partners and numerous bank partners.

The organisation wanted Cognigix team to craft a customised and tailored risk management training program for their managers. In the project, Cognigix team worked with industry experts to develop and design a contemporary mix of learning content on risk management. The modular-program was rolled out on the organisation’s LMS.

Problem Statement:

  • As a part of compliance training, our client had to rollout a risk management training for their managers
  • A need for an e-learning module was identified
  • Develop a risk culture that promotes identification
  • Management of risks on a pro-active basis and in an integrated manner

Proposed Solution:

  • A modular e-learning program which incorporates contemporary learning methods to be rolled out on LMS  for managers organisation-wide
  • A digital program that contained five e-learning modules featuring interactive content, faculty videos, explainer videos, interactive games and assessments

Project Rollout:

The Cognigix team worked with subject matter experts (SME). The team digitised the content provided by the SME. The team conducted a closed group diagnostic study, first and foremost step in understanding the learning objectives and level of understanding of the learners participating in the learning program.

Further, we also scrutinised the existent programs on risk management. Accordingly, a solution map was prepared, keeping in mind the findings of diagnostics and content analysis. The solution map contained the structure of the Program with the very details of various learning channels such as:

1. Faculty Videos: Senior experts from the finance industry and the NBFC discussed the importance, concepts and framework of risk management.

2. Games and Exercises: Interactive games to help learners analyse various risks emerging in the industry, identify ways to avert the risks and minimise its impacts. These games also helped them examine the essential principles for managing risks. 

3. Quizlet: At the end of every module, a context-specific quiz to test the knowledge of the learner.

4. Animation Videos: Animated videos explaining crucial concepts and case narratives to help motivate learners and gain their attention.

5. Interactive User Interface: Including an interactive system allows the learner to take control of their learning journey. It also enables ease of learning and reduces distraction. 

6. Whiteboard Videos: Certain content using whiteboard videos to keep learners interested in understanding complex topics. 

Later the team developed content for the #DeRisk Program which was further bifurcated into five e-learning modules for the encouraging bite-sized learning method. For the Program, we recorded experts from the risk management domain and senior professionals from the NBFC. The videos were converted to expert videos. The topics and concepts of risk management were converted into explainer videos, interactive games, situation-based activities, audio lectures. Various assessments and quizzes were also incorporated in the e-learning to test the knowledge of the learners on the topic of risk management.

Five modules of #DeRisk Program was delivered and launched monthly for completion through the organisation’s LMS.