This qualification is intended to provide a flexible general purpose pathway in the financial services industry. It is intended to meet the training needs of employees with roles that involve working across a range of duties in the financial services sector where a specialist qualification is not the most suitable qualification to meet their training needs.
For current advice on ASIC compliance under RG146 refer to the advice bulletin on the IBSA website or contact ASIC.
The job roles that this qualification is likely to address are:
Generalist financial services roles where a varied skill base is required
Retail financial services officer in a small branch or organisation where the role is varied
Retail or wholesale financial services administration staff (where a financial services qualification is better suited to address industry and compliance knowledge/skill training outcomes to support employee in the role).
Leading/supervising a team
Performing duties of a first line supervisor
13 units must be achieved:
1 core units
plus12 elective units.
8 elective units must be selected from the elective units listed below or from a Certificate IV qualification in this Training Package, a minimum of 6 of these units must be FNS coded units regardless of where they are chosen from.
The remaining 4 elective units may be selected from the electives units listed below, any endorsed Training Package or accredited course at Certificate IV or Diploma level. 2 of these elective units may be chosen at Certificate III level.
Where generic imported units are chosen, they must reflect the level of the qualification being taken and the occupational intent of the learner.
Note: Where the packaging of this qualification meets the rules of a specialist qualification at this level, then the specialist qualification and not the generic qualification must be awarded.
Elective units must be relevant to the work outcome, local industry requirements and the qualification level.
Core units of competency:
FNSINC401A Apply principles of professional practice to work in the financial services industry
This qualification would provide a pathway into any Diploma level qualification in the Financial Services training package, based upon the electives chosen.
The following table contains a summary of the employability skills required by industry for this qualification. The employability skills facets described here are broad industry requirements that may vary depending on qualification packaging options.
Industry/enterprise requirements for this qualification include:
accessing professional networks
developing and writing reports to specifications
preparing and presenting routine and complex correspondence in appropriate electronic formats
questioning, listening and clarifying client's requirements
using effective telephone techniques and having the ability to negotiate resolutions with clients and colleagues
coordinating professional development activities and seeking peer reviews
developing a rapport with clients when identifying their needs, objectives and financial situation
receiving feedback on performance
referring matters to a nominated person as required
seeking feedback on research findings
checking the accuracy of calculations
collecting, comparing and contrasting data in order to create reports
conducting trend and risk analyses including product modelling
identifying and resolving inconsistencies in data
Initiative and enterprise
applying referral skills
continually reviewing and applying emerging industry trends to product and service knowledge
developing administrative processes to implement financial plans
researching alternative options for clients' needs
Planning and organising
developing and maintaining systems, records and reporting procedures
processing workplace documentation and maintaining files; managing information; scheduling and coordinating competing tasks
undertaking research and developing solutions such as financial plans
acting as a role model for others
planning own work schedule and monitoring and evaluating own work performance
taking to management, concerns with own level of responsibility
understanding own work role and working within it
working ethically and complying with all industry codes of practice and legislative requirements
applying learning to develop improved practices
developing and maintaining professional competency
following workplace safety procedures
identifying opportunities for professional development
seeking expert advice as required 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