Qualification details

Modification History

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.

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
• negotiating and establishing outsourced service providers
• working as a trustee of a superannuation fund.

Pathways Information

Pathways into the qualification 

Preferred pathways for candidates entering this qualification include:

• Diploma of Superannuation.

Pathways from the qualification 

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.

A further learning pathway could be study in relevant higher education programs.

Licensing/Regulatory Information

Work functions in the occupational areas where this qualification may be used are subject to regulatory requirements. You should refer to the IBSA website (www.ibsa.org.au) or the relevant regulator for specific guidance on requirements.

Entry Requirements

The entry requirement for this qualification is completion of 5 units of competency, comprising:

• the unit FNSINC402A Develop and maintain in-depth knowledge of products and services used by an organisation or sector from FNS50711 Diploma of Superannuation, or equivalent;
• 4 units from the group of Superannuation elective units from the Diploma of Superannuation in FNS50711 (SUP code), Diploma of Finance (Superannuation) FNS50904 (SUPR code), or equivalent.

Employability Skills Summary

Packaging Rules

Packaging Rules

12 units  must be achieved.

2 core units 

plus 10 elective units 

• 7 elective units  from Groups A, B, C or D
• a minimum of 2 elective units  must be selected from Group B
• the remaining 3 elective units  may be selected from the electives listed below
• 2 of the elective units  may be selected from any endorsed Training Package or accredited course. Both of these units may be from a Diploma qualification; one may be from an Advanced Diploma qualification.

Elective units must be relevant to the work outcome, local industry requirements and the qualification level.

Core units of competency: 

• 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
• FNSCUS505A Determine client requirements and expectations
• FNSCUS506A Record and implement client instructions
• FNSIAD501A Provide appropriate services, advice and products to clients
• 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 to 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
• BSBCOM603C Plan and establish compliance management systems
• BSBMGT605B Provide leadership across the organisation
• 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
• 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

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
• FNSCUS505A Determine client requirements and expectations
• FNSCUS506A Record and implement client instructions
• FNSIAD501A Provide appropriate services, advice and products to clients
• 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

Prerequisite Units