Modification History
Not applicable.
Description
This qualification is designed to reflect job roles in the superannuation industry and involves providing leadership and guidance with responsibility for the superannuation work outcomes of others. Some functions may be subject to Australian Securities and Investments Commission (ASIC) regulation and licensing.
Possible work functions may include:
- developing and managing business systems for superannuation
- developing compliant policy and procedures
- liaising with and supporting trustees
- managing and supervising superannuation industry staff
- monitoring service provider performance
- negotiating and establishing outsourced service providers
- providing advice on superannuation services and products
- providing comprehensive services to superannuation employers and clients
- working as a trustee of a superannuation fund.
Pathways Information
Qualification Pathway
Entry requirements
The entry requirement for this qualification is completion of 7 units of competency, comprising:
- The core unit FNSINC402A Develop and maintain in -depth knowledge of products and services used by an organisation or sector from the FNS50710 Diploma of Superannuation;
- Plus 4 units from Elective Group B in FNS50710 Diploma of Superannuation.
Pathways
Preferred pathways for candidates entering this qualification include:
- FNS50710 Diploma of Superannuation
The primary pathway from this qualification is employment in superannuation job roles:
- within a superannuation fund or service provider to a superannuation fund
- working outside superannuation but providing advice on superannuation products.
This qualification may meet Australian Securities and Investments Commission (ASIC) requirements for Tier 1 compliance. Guidance should be sought from ASIC or an appropriate industry body on the selection of units required. Prerequisites units include:
- FNSINC501A Conduct product research to support recommendations
- FNSIAD501A Provide appropriate services, advice and products to clients
- FNSCUS505A Determine client requirements and expectations
- FNSCUS506A Record and implement client instructions
The Tier 1 required unit and pre-requisites are in elective Group A.
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
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EMPLOYABILITY SKILLS QUALIFICATION SUMMARY |
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Employability Skill |
Industry /enterprise requirements for this qualification include : |
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Communication |
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Teamwork |
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Problem solving |
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Initiative and enterprise |
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Planning and organising |
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Self-management |
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Learning |
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Technology |
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Packaging Rules
Packaging Rules
12 units must be achieved.
3 core units
plus 9 elective units
- if ASIC Tier 1 compliance in superannuation is required all Group A units must be completed
- at least 2 electives must be selected from Group B, and at least 3 other units from Groups B, C or D if Tier 1 compliance is not required
- A maximum of 2 electives may be selected from Group E
- A maximum of 2 electives may be selected from units aligned to Diploma qualifications in the FNS10 Financial Services or other endorsed Training Package or accredited course
- One (1) elective may be selected 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 :
- BSBOHS404B Contribute to the implementation of strategies to control OHS risk
- FNSCUS601A Establish, manage and monitor key relationships
- FNSINC401A Apply principles of professional practice to work in the financial services industry
Elective units of competency :
Group A (Superannuation advice )
- FNSASICU503A Provide advice in Superannuation
- 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
Group B (Fund trustee )
- FNSSUP601A Liaise with and support trustees
- FNSSUP602A Manage official complaints procedures and proceedings
- FNSSUP603A Integrate investment strategy with fund operations
Group C (Self -managed superannuation funds )
- FNSSMS601A Provide advice in self-managed superannuation funds
- FNSSMS602A Apply taxation requirements when advising in self-managed superannuation funds
- FNSSMS603A Apply legislative and operational requirements when advising in self-managed superannuation funds
Group D (Organisational support )
- BSBCOM602B Develop and create compliance requirements
- BSBCOM603B Plan and establish compliance management systems
- BSBMGT605B Provide leadership across the organisation
- FNSSAM602A Identify and evaluate marketing opportunities in the financial services industry
- FNSSAM603A Tailor financial products to meet customer needs
- FNSSAM604A Establish agreements with intermediaries for product distribution
- FNSORG602A Develop and manage financial systems
- FNSORG603A Establish and prepare operational guidelines in a financial services organisation
- FNSORG604A Establish outsourced services and monitor performance
- FNSPRM605A Establish or review marketing, client services and supplier relationships
- FNSPRM606A Establish or review human resources, administration and information support
- FNSRSK601A Develop and implement risk mitigation plan
Group E (General )
- BSBINN501A Establish systems that support innovation
- BSBITB501A Establish and maintain a workgroup computer network
- BSBSUS501A Develop workplace policy and procedures for sustainability
- FNSACC505A Establish and maintain accounting information systems
- 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
- FNSORG501A Develop and manage a budget
- FNSORG504A Monitor and supervise work practices to meet financial services regulatory requirements
- FNSSMS501A Invest self-managed superannuation funds assets
- FNSSMS505A Support trustee in the selection and performance monitoring of outsourced services
- FNSSUP501A Supervise complaints procedures
- FNSSUP504A Provide advanced customer service to superannuation clients
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.
