Advanced Diploma of Financial Licensing Management

This qualification is designed for individuals occupying the position of responsible manager in a financial services organisation. It provides individuals with the knowledge and skill compliance requirements for identification as responsible managers for organisational licensing under the Australian Securities and Investments Commission (ASIC) Regulatory Guide 105 (RG105): Licensing: Organisational Compliance.

An organisation's obligation to ensure their representatives are trained and competent to provide financial services is set out in Section E of Regulatory Guide 104 (RG 104) Licensing: Meeting the general obligations (RG 104). If representatives provide financial product advice to retail clients also Regulatory Guide 146 (RG 146) Licensing: Training of financial product advisers (RG 146). Details of these guides and contacts in ASIC are provided in the FNS10 Information Kit available on the IBSA website.


Packaging Rules

10 units must be achieved:

6 core units

plus4 elective units

the required elective units of competency may be selected from Groups A, B or C, from units aligned to Advanced Diploma qualifications in the FNS10 Financial Services or 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:

add topic BSBCOM603B Plan and establish compliance management systems

add topic BSBINM401A Implement workplace information system

add topic BSBMGT605B Provide leadership across the organisation

add topic FNSFMK505A Comply with financial services legislation and industry codes of practice

add topic FNSPRM601A Establish, supervise and monitor practice systems to conform with legislation and regulations

add topic FNSPRM606A Establish or review human resources, administration and information support

Elective units of competency:

Group A

add topic BSBOHS303B Contribute to OHS Hazard identification and risk assessment

add topic FNSRSK501A Undertake risk identification

add topic FNSRSK502A Assess risks

add topic FNSRSK601A Develop and implement risk mitigation plan

add topic FNSRSK602A Determine and manage risk exposure strategies

Group B

add topic FNSFMK510A Prepare trading strategies for clients

add topic FNSFMK601A Price financial transactions

add topic FNSFMK602A Hedge financial products

Group C (ASIC units that may be required for compliance with RG 146)

add topic FNSASICS503A Provide advice in Foreign Exchange

add topic FNSASICV503A Provide advice in Derivatives

add topic FNSASICW503A Provide advice in Securities

add topic FNSIAD501A Provide appropriate services, advice and products to clients

add topic FNSIAD502A Provide appropriate and timely information and advice to clients

add topic FNSCUS504A Manage premium customer relationships

add topic FNSCUS505A Determine client requirements and expectations

add topic FNSCUS506A Record and implement client instructions

add topic 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

    The primary pathway from this qualification is employment in a senior financial services industry management role.

    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


Employability Skill

Industry/enterprise requirements for this qualification include:


developing a rapport with team members and clients and communicating ideas and information cognisant of clients' social and cultural diversity and special needs

documenting clients' complex or special needs to protect interests of client and financial planner

negotiating to resolve financial planning issues

presenting complex information to clients and colleagues in plain language

questioning, clarifying and evaluating information

researching and consulting with a wide range of users internal and external to the organisation

using a range of techniques to elicit feedback from team members, clients and regulatory agencies


coaching and mentoring staff on new skills

coordinating financial planning activities with other professionals

delegating and briefing various personnel on their roles and responsibilities

demonstrating leadership in maintaining compliance with regulatory requirements and organisational policies and procedures

producing a positive and productive workplace that encourages maximum participation

Problem solving

applying estimating, forecasting and analysis skills

collecting and analysing data

comparing and contrasting data

testing and assessing the integrity of information

using analytical, evaluative and deductive reasoning skills

Initiative and enterprise

assessing an organisation's compliance status and outstanding issues

developing innovative strategies to ensure the organisation meets its legal and regulatory obligations

identifying new and emerging opportunities and developing strategies to capitalise on them

monitoring the external environment and identifying emerging practices and trends

Planning and organising

coordinating people, resources and/or equipment to achieve optimum results

developing action plans to meet licensing and compliance requirements, timelines and priorities

establishing and maintaining documentation and records

undertaking complex research and developing complex solutions


acting as a role model for others

managing own time and priorities and dealing with contingencies

taking responsibility as required by work role and ensuring all organisational policies and procedures are followed

working ethically and complying with all industry codes of practice and legislative requirements


adapting to change in technology and/or work practices

contributing to the learning of others by providing coaching, conducting team meetings and supplying information

developing and maintaining personal competence

identifying opportunities for professional development

maintaining currency of knowledge of compliance issues and financial products and services

using online help for self-learning purposes


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