Qualification details

FNS50310 - Diploma of Finance and Mortgage Broking Management (Release 1)

Summary

Releases:
ReleaseStatusRelease date
1 1 (this release)Current 24/Nov/2010

Usage recommendation:
Superseded
Mapping:
MappingNotesDate
Is superseded by and equivalent to FNS50311 - Diploma of Finance and Mortgage Broking ManagementUnit changes in the compliance unit BSBCOM501B to FNSFMK505A to better reflect workplace requirements; FNSRSK501A and FNSRSK502A; TAEDEL402A replaced TAADEL402B in electives most recent version – OUTCOMES EQUIVALENT 16/Jan/2012
Supersedes and is equivalent to FNS50504 - Diploma of Financial Services (Finance/Mortgage Broking Management) 24/Nov/2010

Training packages that include this qualification

Units of competency

CodeSort Table listing Units of Competency by the 'Code' columnTitleSort Table listing Units of Competency by the 'Title' columnEssential
BSBCOM501B - Identify and interpret compliance requirementsIdentify and interpret compliance requirements N/A
BSBINM401A - IMPLEMENT WORKPLACE INFORMATION SYSTEMIMPLEMENT WORKPLACE INFORMATION SYSTEM N/A
BSBMGT502B - Manage people performanceManage people performance N/A
BSBMGT515A - Manage operational planManage operational plan N/A
BSBMGT605B - Provide leadership across the organisationProvide leadership across the organisation N/A
BSBOHS303B - Contribute to OHS hazard identification and risk assessmentContribute to OHS hazard identification and risk assessment N/A
BSBRSK401A - Identify risk and apply risk management processesIdentify risk and apply risk management processes N/A
BSBSMB405A - Monitor and manage small business operationsMonitor and manage small business operations N/A
BSBSUS501A - Develop workplace policy and procedures for sustainabilityDevelop workplace policy and procedures for sustainability N/A
FNSCUS501A - Develop and nurture relationships with clients, other professionals and third party referrersDevelop and nurture relationships with clients, other professionals and third party referrers N/A
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Classifications

SchemeCodeClassification value
ANZSCO Identifier 552211 Credit and Loans Officer (Aus) / Finance Clerk (NZ)  
ASCO (occupation type) Identifier 5912-11 Credit And Loans Officer 
ASCED Qualification/Course Field of Education Identifier 0811 Banking, Finance And Related Fields 
Qualification/Course Level of Education Identifier 421 Diploma 

Classification history

SchemeCodeClassification valueStart dateEnd date
ANZSCO Identifier 552211 Credit and Loans Officer (Aus) / Finance Clerk (NZ)  24/Nov/2010 
ASCO (occupation type) Identifier 5912-11 Credit And Loans Officer 24/Nov/2010 
ASCED Qualification/Course Field of Education Identifier 0811 Banking, Finance And Related Fields 24/Nov/2010 
Qualification/Course Level of Education Identifier 421 Diploma 24/Nov/2010 
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Modification History

Not applicable.

Description

This qualification reflects management job roles in finance and mortgage broking, including roles that are independent, undertaken through an aggregator, or involve managing a workplace team.

Pathways Information

Qualification Pathway 

Preferred pathways for candidates entering this qualification include:

  • FNS40810 Certificate IV in Finance and Mortgage Broking

The primary pathway from this qualification is employment in finance and mortgage broking with duties such as:

  • securing new clients and contacts interested in mortgage or finance broking services
  • presenting broking options and recommending loan combinations to clients based on identified needs
  • preparing and presenting loan applications to lenders and settling of a loan
  • managing legislative and code of practice obligations relevant to the mortgage and/or finance broking industry specifically
  • assessing prospective borrowers' eligibility to obtain finance and their capacity to service debt
  • operating and building an independent business
  • brokering complex and/commercial leases and equipment finance, commercial finance, project finance and finance for property developers
  • acting as licensees.

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.

Licensing/Regulatory Information

Not applicable.

Entry Requirements

Not applicable.

Employability Skills Summary

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
  • documenting clients' complex or special needs to protect interests of clients and broker
  • interpreting client requirements and tailoring products to meet their needs
  • preparing and presenting correspondence in appropriate electronic format
  • presenting complex information to the client
  • questioning, listening and clarifying clients' requirements
  • using effective telephone techniques and having the ability to negotiate solutions with clients and colleagues
  • using excellent customer service skills and maintaining an ongoing relationship with clients
  • using excellent interpersonal skills to meet a client's personal needs

Teamwork

  • conducting performance appraisals
  • consulting other financial services professionals as required
  • coordinating actions with other professionals
  • making constructive contributions to group decision making processes
  • managing the process of monitoring and reviewing team performance
  • providing feedback, support and encouragement to team members

Problem solving

  • checking the accuracy of calculations
  • conducting trend and risk analyses including product modelling
  • determining security protocols
  • identifying and resolving inconsistencies in information
  • identifying OHS hazards and risk control
  • planning for contingencies and using problem solving techniques to resolve workplace issues
  • testing strategic assumptions
  • undertaking risk identification, evaluating risk controls and conducting probability assessments

Initiative and enterprise

  • analysing, modelling, prioritising and measuring risk loan structures/options
  • aligning customer characteristics to 'best product'
  • continuously reviewing and applying emerging industry trends to product and service knowledge
  • generating a range of options for clients to consider

Planning and organising

  • coordinating people, resources and or equipment to achieve optimum results
  • creating action plans for complex loans to meet timelines and priorities
  • establishing and maintaining records
  • undertaking research and developing complex solutions

Self-management

  • acting as a role model for others
  • managing own time and priorities and dealing with contingencies
  • planning one's work schedule and monitoring and evaluating own work performance
  • understanding own work role and working within it
  • working ethically and complying with all industry codes of practice and legislative requirements

Learning

  • adapting to change in technology and/or work practices
  • developing and maintaining personal competency
  • following workplace safety procedures
  • identifying and encouraging opportunities for professional development
  • seeking assistance and expert advice on behalf of clients

Technology

  • applying technology through the utilisation and application of computers, organisational software, organisational templates and telecommunication devices
  • conducting web searches to research information
  • using business technology to access, organise and monitor information

Packaging Rules

Packaging Rules 

15 units  must be achieved:

10 core units 

plus 5 elective units .

  • the required elective units of competency can be selected from the elective bank below or 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 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 :

  • BSBCOM501B Identify and interpret compliance requirements
  • BSBRSK401A Identify risk and apply risk management processes
  • FNSFMB401A Prepare loan application on behalf of finance or mortgage broking clients
  • FNSFMB402A Provide finance and mortgage broking services
  • FNSFMB403A Present broking options to client
  • FNSFMB502A Identify and develop complex broking options for client
  • FNSFMB503A Present broking options to client with complex needs
  • FNSFMB504A Implement complex loan structures
  • FNSCUS501A Develop and nurture relationships with clients, other professionals and third party referrers
  • FNSINC401A Apply principles of professional practice to work in the financial services industry

Elective units of competency :

  • BSBINM401A Implement workplace information system
  • BSBMGT502B Manage people performance
  • BSBMGT515A Manage operational plan
  • BSBMGT605B Provide leadership across the organisation
  • BSBOHS303B Contribute to OHS hazard identification and risk assessment
  • BSBSMB405A Monitor and manage small business operations
  • BSBSUS501A Develop workplace policy and procedures for sustainability
  • FNSFMB501A Settle applications and loan arrangements in the finance and mortgage broking industry
  • FNSORG502A Develop and monitor policy and procedures
  • FNSPRM601A Establish, supervise and monitor practice systems to conform with legislation and regulations
  • FNSPRM602A Improve the practice
  • FNSPRM603A Grow the practice
  • FNSRSK602A Determine and manage risk exposure strategies
  • TAADEL404B Facilitate workplace learning

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.

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