DAC8 Staff Training: Building Internal Expertise

DAC8 compliance depends on people as much as systems. This article outlines a training program that builds the internal expertise needed for ongoing compliance.

Training Audiences

Different groups within the CASP need different levels of DAC8 training:

Executive leadership needs high-level awareness of DAC8's requirements, implications, and resource demands. Focus on regulatory risk, budget impact, and strategic positioning.

Compliance team needs deep technical knowledge of DAC8/CARF requirements, the XML schema, national transposition details, and due diligence procedures.

Technology team needs understanding of DAC8 data requirements, XML schema specifications, and integration requirements to build and maintain compliant systems.

Customer support team needs the ability to explain DAC8 requirements to users, handle questions about TIN collection and self-certification, and escalate complex issues to the compliance team.

Operations team needs understanding of DAC8 processes that affect daily operations, including onboarding changes, data quality monitoring, and reporting timelines.

Training Content

Core training modules should cover DAC8 fundamentals (scope, objectives, key requirements), due diligence procedures (TIN collection, self-certification, validation), transaction classification (the four categories, edge cases, practical examples), reporting mechanics (XML schema, aggregation, submission, corrections), GDPR considerations (legal basis, user rights, data security), and national transposition specifics (deadlines, penalties, competent authority procedures).

Ongoing Training

DAC8 training is not a one-time event. CASPs should schedule annual refresher training before each reporting cycle, update training materials when regulations change, incorporate lessons learned from previous reporting periods, and train new hires as part of their onboarding.

Conclusion

Well-trained staff are the foundation of DAC8 compliance. CASPs that invest in comprehensive, ongoing training programs will build more resilient compliance operations and reduce the risk of errors.