This qualification is designed to reflect team leadership or supervisory roles in life insurance in a range of organisations and may meet Australian Securities and Investments Commission (ASIC) requirements for Tier 1 personal advice.
Subjects
Packaging Rules
12 units must be achieved.
3 core units
plus9 elective units
selecting the identified elective unit/s * could meet ASIC accreditation requirements for providing financial product advice - conditions relating to ASIC accreditation should be obtained from ASIC
elective units may be selected from Group A, B or C
A maximum of 2 elective units may be selected from units aligned to Diploma qualifications in any endorsed Training Package or from relevant units in similarly aligned accredited courses
One (1) elective unit may be selected from units aligned to Certificate IV qualifications in any endorsed Training Package or from relevant units in similarly aligned accredited courses.
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:
BSBOHS404B Contribute to the implementation of strategies to control OHS risk
FNSINC401A Apply principles of professional practice to work in the financial services industry
FNSINC402A Develop and maintain in-depth knowledge of products and services used by an organisation or sector
Elective units of competency:
Group A (ASIC Tier 1)
FNSCUS506A Record and implement client instructions*
FNSINC501A Conduct product research to support recommendations*
FNSASICM503A Provide Tier 1 personal advice in life insurance*
FNSASICP503A Provide Tier 1 general advice in life insurance*
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.
Pathways...
Qualification Pathway
Preferred pathways for candidates entering this qualification include:
FNS41510 Certificate IV in Life Insurance
The primary pathway from this qualification is employment in life insurance in areas such as:
managing distribution
managing underwriting
providing advice.
Possible work functions may include:
assessing risk
determining and managing resources for distribution plan
developing plans to take products and services to the market
providing advice in accordance with ASIC regulations.
An Australian Apprenticeship pathway may be possible for this qualification depending on the State or Territory training authority declaration policy.
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.
Entry Requirements
Not applicable.
Licensing Information
Not applicable.
Employability Skills
QUALIFICATION SUMMARY
Employability Skill
Industry/enterprise requirements for this qualification include:
Communication
building trust and a rapport with clients
developing and writing reports to specifications
interpreting client requirements and tailoring products or services to meet their needs
preparing and presenting correspondence in appropriate electronic format
the ability to negotiate solutions with clients and colleagues
using effective telephone techniques
using excellent customer service skills and maintaining an ongoing relationship with clients
Teamwork
coaching and mentoring staff to reach minimum customer service standards
contributing to team cohesion and developing team plans
managing workplace relationships including counselling staff as required
monitoring performance and conducting performance appraisals
negotiating and agreeing with staff on performance standards
providing feedback, support and encouragement to team members
Problem solving
checking the accuracy of calculations
collecting, comparing and contrasting data
comparing products and services in order to offer clients different options
determining the viability of new opportunities
identifying OHS hazards and risk control
resolving poor performance issues within scope of responsibility
using problem solving tools and techniques
working proactively with management to resolve workplace issues
Initiative and enterprise
applying referral skills
applying the learning of ergonomics to develop improved processes
building and implementing reward and recognition strategies for customer loyalty
continually reviewing and applying emerging industry trends to product and services knowledge
exploiting business opportunities
identifying and investigating risk as it relates to new business
Planning and organising
contributing to the planning process by researching and validating information
maintaining systems, records and reporting procedures
planning for the business including establishing KPIs and monitoring staff performance
planning work considering resources, time and other constraints
using organisational skills to locate information on statutory and legislative requirements
Self-management
acting as a role model for others
taking to management about concerns with own level of responsibility
understanding and acting upon compliance matters
working ethically and complying with all industry codes of practice and legislative requirements
Learning
developing and monitoring an organisational training plan and individual training plans
encouraging continuous education and professional development
facilitating internal and external training
identifying and documenting training needs for ongoing compliance
seeking specialist financial advice on behalf of clients as required
Technology
conducting effective web searches
operating computers and using word processing, spreadsheet and database skills to produce workplace documentation
using business technology to access, organise and monitor information
using corporate software templates
using research data devices and telecommunication devices and equipment