4. Training, coaching and mentoring
The agency executive officer and the broker acting on his own account must provide the necessary training, coaching and mentoring to the licensees representing the agency, employees and persons authorized to act within the establishment to promote good knowledge of the regulations. They should regularly assess their understanding of the current regulations and provide feedback.
Training, coaching and mentoring must also be geared towards meeting the specific needs of each broker and employee, as well as ensuring that brokers are operating within the limits of their knowledge, skills and licence, and that employees are not performing acts reserved for licensees.
A welcome program should be implemented for new brokers and a "starter kit" made available to them.
Ongoing monitoring must be carried out, for example, when a licensee does not have much experience in the field in which he works. Special measures should be put in place for all inexperienced brokers and those who have joined the agency for less than a year to ensure that they receive increased monitoring.
Moreover, the agency's internal training program must notably provide for a mechanism for continuous information, explanations and clarifications, including regulatory changes, OACIQ notices and relevant disciplinary notices. For this purpose, the agency executive officer must provide regular and frequent time slots to meet with brokers individually and hold group meetings.
Training recommended or offered by the agency or broker acting on his own account can also be used to educate brokers and employees on specific topics, such as:
- Conflicts of interest
- Fraud and money laundering
- Cybersecurity
- Specific problems or regional issues
- Etc.
Note that some training courses offered by the OACIQ are also available for administrative staff to which the agency executive officer can refer them.
Staff members and those authorized to act within the establishment must be well trained to recognize the appropriate and expected conduct, especially when the tasks performed meet regulatory requirements. Their understanding of the regulations must be assessed regularly.
The format of the training and coaching should be tailored to the size of the establishment, the experience of brokers and the risks they face.
Good to know
To ensure the success of brokers, and to efficiently advise them in their brokerage activities, the agency executive officer must, among other things, oversee the conduct of licensees and ensure that they comply with the Act.
Where necessary, talking to brokers and following up on things are also important aspects of the agency executive officer’s work. For all these professional requirements, the Mandatory Continuing Education Program (MCEP) is a key ally. It provides agency executive officers with tools to assist brokers in selecting their training activities, based on their career path and professional needs. By supervising their training progress, agency executive officers will contribute to their success and play their full role.
Training courses designed in agencies can be accredited by the OACIQ if they meet the eligibility criteria. Learn more here.
In addition, the OACIQ can offer training sessions in agencies. Contact the OACIQ Training Department for more details.
Public protection certainly involves having competent and knowledgeable agency executive officers. A well-advised and supervised broker is less likely to commit errors during his career path.
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