Qualification details

Modification History

Not applicable.

Description

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.

Pathways Information

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.

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	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

Packaging Rules

Packaging Rules 

10 units  must be achieved:

7 core units  (5 plus the 2 units in core Groups A , B or C )

plus 3 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.