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Customer Onboarding

DTCC Learning, particularly the Delivery Services group, is responsible for ensuring that all new accounts demonstrate the operational capabilities required to conduct business via DTCC without doing harm to themselves, DTCC, or the industry prior to activation. The term “new account” applies to either new DTCC participants or existing participants that activate a new product or service.

Our process consists of five major steps:

1. DTCCL initiates training when we are notified that a firm is activating a product or service. At that time, a comprehensive needs analysis is conducted through meetings with firm representatives. Senior training consultants determine product usage within the context of a firm’s individual business model.
2. Following analysis, DTCCL prescribes a blended learning curricula tailored to the needs of the individual organization. Training programs consist of standardized self-paced e-learning modules and simulations, which are supplemented by instructor-led Webinars as necessary based upon the experience level of firm associates and the complexity of the business model.
3. Next, DTCCL validates a firm’s activation preparedness. Through performance-based assessments, DTCCL objectively validates that a firm has demonstrated operational competency in the product or service that it is activating.
4. Following validation, DTCCL Senior Training Consultants provide each firm with live support and performance coaching on both the activation day and the first settlement day.
5. Lastly, training consultants monitor the firm’s account activity for a minimum of two weeks, during which they proactively contact the participant about any observed irregularities and provide additional coaching as necessary.

DTCCL's comprehensive performance-based skills assessments allow for the standardized, objective validation of a firm’s ability to perform the critical tasks associated with a particular product or service.  While each firm receives new account training tailored to its individual needs, all firms must demonstrate competency in a product or service via these assessments. Firms are validated when their employees score 75% or better on an assessment.

Validation helps DTCCL mitigate risk to the industry and provides transparency to the overall process, two qualities in which regulators such as the SEC have expressed particular interest.

Prior to activation, DTCCL prepares and distributes an Activation Preparedness Report for each firm. This report documents a firm’s assessment results and is distributed to all interested parties, including Relationship Management (RM), RM support, Membership, and of course, DTCC itself.

Currently, DTCCL's standard holds that at least one individual at a firm show mastery in the product that the firm is going to use. However, we strongly recommend  to each firm that every associate who will be interacting with DTCC’s systems passes the associated assessments. Assessment results are also used to identify additional training opportunities that DTCCL can address after the account has gone live.