This qualification reflects job roles in financial markets involving duties in the areas of client advice, operational and dealing room roles. Units in this qualification can be selected to meet Australian Securities and Investments Commission (ASIC) Tier 1 status. Specific product units and pre-requisites for licensing are included in the electives.
Packaging Rules
10 units must be achieved:
7 core units (5 plus the 2 units in core Groups A, B or C)
plus3 elective units.
the required elective units of competency can be selected from core groups A, B or C not already chosen to complete a client advisory, operational or dealing room role; the elective Groups D, E or F; or from units aligned to other Diploma qualifications in the FNS10 Financial Services Training Package
A maximum of 2 electives may be selected from units aligned to Certificate IV or Advanced Diploma qualifications in the FNS10 Financial Services Training Package
A maximum of 2 electives may be selected from units aligned to Certificate IV, Diploma or Advanced Diploma qualifications in another endorsed Training Package or accredited course.
Elective units must be relevant to the work outcome, local industry requirements and the qualification level.
Units selected from other Training Packages or accredited courses must not duplicate units selected from or available within the FNS10 Financial Services or BSB07 Business Services Training Packages.
Core units of competency:
BSBINM401A Implement workplace information system
FNSFMK501A Analyse financial markets and information
FNSFMK505A Comply with financial services legislation and industry codes of practice
FNSINC401A Apply principles of professional practice to work in the financial services industry
FNSRSK502A Assess risks
Plus
Group A (Client advisory roles)
FNSFMK502A Analyse financial market products for client
FNSFMK503A Advise clients on financial risk
Or
Group B (Operational roles)
FNSFMK401A Reconcile financial transaction
FNSFMK504A Complete settlement and confirmation processes
Or
Group C (Dealing room roles)
FNSFMK601A Price financial transactions
FNSFMK602A Hedge financial products
Elective units of competency:
Group D (Operational roles)
FNSFMK506A Detect errors and fraud when processing financial transactions
FNSFMK507A Analyse risk mitigation in the operation process
FNSFMK508A Monitor and process collateral
Group E (Dealing room roles)
FNSFMK509A Apply knowledge of transaction documentation and processing
FNSFMK510A Prepare trading strategies for clients
FNSFMK511A Apply limits when trading
Group F (General)
BSBOHS303B Contribute to OHS hazard identification and risk assessment
BSBSUS501A Develop workplace policy and procedures for sustainability
FNSASICS503A Provide advice in Foreign Exchange**
FNSASICT503A Provide advice in Managed Investments**
FNSASICV503A Provide advice in Derivatives*
FNSASICW503A Provide advice in Securities*
FNSFMK502A Analyse financial market products for client
FNSFMK503A Advise clients on financial risk
FNSIAD501A Provide appropriate services, advice and products to clients
FNSIAD502A Provide appropriate and timely information and advice to clients
FNSCUS504A Manage premium customer relationships
FNSCUS505A Determine client requirements and expectations
FNSCUS506A Record and implement client instructions
FNSINC501A Conduct product research to support recommendations
Note: Units marked '*' have the following 4 co-requisite unit requirements for ASIC Tier 1 accreditation:
FNSFMK502A Analyse financial market products for client
FNSFMK503A Advise clients on financial risk
FNSCUS505A Determine client requirements and expectations
FNSCUS506A Record and implement client instructions
Units marked '**' have the following four co-requisite unit requirements for ASIC Tier 1 accreditation:
FNSIAD501A Provide appropriate services, advice and products to clients
FNSCUS505A Determine client requirements and expectations
FNSCUS506A Record and implement client instructions
FNSINC501A Conduct product research to support recommendations
NOTE Certain elective units may be required to progress to membership of relevant professional organisations. Learners should establish such requirements where they apply in order to make appropriate choices.
Qualification Pathway
Preferred pathways for candidates entering this qualification include:
FNS41110 Certificate IV in Financial Markets Operations
The primary pathway from this qualification is employment in financial markets specific roles in:
client advisory services
operations
dealing rooms.
An Australian Apprenticeship pathway may be possible for this qualification depending on the State or Territory training authority declaration policy
A further learning pathway utilising qualifications such as:
FNS60710 Advanced Diploma of Financial Licensing Management
FNS60810 Advanced Diploma of Financial Risk Management
would support career progression. A further learning pathway could be study in relevant higher education programs. Learners should establish relevant qualifications and any credit arrangements that may apply in order to make appropriate elective choices in this qualification.
Not applicable.
Not applicable.
QUALIFICATION SUMMARY | |
Employability Skill | Industry/enterprise requirements for this qualification include: |
Communication | determining risk profile and negotiating with client on policy/financial plan or transaction establishing a positive working relationship with clients identifying client's objectives, needs and financial situation providing ongoing service to clients writing reports and using excellent interpersonal skills |
Teamwork | seeking feedback from clients on service levels supervising work practices and distributing research findings to relevant parties for feedback supporting staff to implement systems |
Problem solving | analysing trends and risk including product modelling applying estimating, forecasting and analysis skills checking the accuracy of calculations comparing products and services in order to offer clients different options preparing and interpreting complex financial statements and performing complex financial calculations researching using methods of analysis, testing, assessing and evaluating data and information surveying potential risk exposure |
Initiative and enterprise | applying analytical skills to interpret complex financial statements applying referral skills exploring risk issues and tolerance levels with clients identifying risk changes monitoring context of product market developments and industry trends monitoring the business environment to ensure clients' needs are still being met proactively anticipating customer requirements and recommending products |
Planning and organising | contributing to the planning process by researching and validating information developing and maintaining systems, records and reporting procedures ensuring the integrity of systems, records and reporting procedures are maintained implementing internal monitoring/audit program to ensure ongoing compliance |
Self-management | acting as a role model for others defining and understanding own work role managing own time and priorities and dealing with contingencies working ethically and complying with all industry codes of practice and legislative requirements |
Learning | adapting to change in technology and/or work practices applying learning to develop improved practices coaching and mentoring others to acquire new knowledge and skills contributing to the learning of others through implementing team building exercises defining own work role and working within level of responsibility developing and maintaining personal competence developing and maintaining professional competence identifying opportunities for professional development making referrals to specialists as required |
Technology | conducting web searches and using corporate templates operating computers and using word processing, spreadsheet and database skills to produce workplace documentation using business technology to access, organise and monitor information using research data devices and telecommunication devices and equipment |