To thrive in complex social systems, like the commodity and energy markets, one has to be able to identify and grasp opportunities while coping with uncertainty. Dealing with complexity requires an understanding of the multifaceted interactions and dynamics that influence these systems.
Complex social systems like the traded markets can only be understood by having a multi-dimensional approach. This means, besides many more relevant fields of expertise, employees need to have knowledge about engineering to master the supply chain and physical flows, and they are required to have knowledge of economics, to master pricing, finance, accounting and cashflow management, and they should have knowledge about legal aspects to master market regulations and trade compliance.
Altogether, organisations provide employees training for different purposes, namely, to fulfill functional desires, to meet operational necessities and to comply with regulatory requirements. Successful professionals require simultaneously an understanding of content and context, and awareness of conduct and culture.
A blended-learning approach is most effective, as it creates the steepest learning curves, while online platforms also allow for continuous professional development and optimisation of skills. Simultaneously, the platforms allow for time-efficient self-study.
For parties with a trading function it is key to have in place a well-thought framework covering learning journeys for employees in the Front, Middle & Back Office. Specific journeys should be built out for new Recruits, Juniors, Mediors & Seniors.
Education of staff may be based on a desire to improve their knowledge and skills, but it can also be part of the compliancy framework.Learning services should be recognised by a wide range of clients or other stakeholders, while being credited by proven ability. It is very important to have a workforce that is competent and confident, to maximise the company’s performance, to optimise the risk function, to avoid mistakes or mitigate the potential consequences, while minimising the risk of non-compliance and shielding your organisation against reputational harm.