Modification History
Not applicable.
Description
This qualification is designed for individuals occupying the position of responsible manager in a financial services organisation. It provides individuals with the knowledge and skill compliance requirements for identification as responsible managers for organisational licensing under the Australian Securities and Investments Commission (ASIC) Regulatory Guide 105 (RG105): Licensing: Organisational Compliance.
An organisation's obligation to ensure their representatives are trained and competent to provide financial services is set out in Section E of Regulatory Guide 104 (RG 104) Licensing: Meeting the general obligations (RG 104). If representatives provide financial product advice to retail clients also Regulatory Guide 146 (RG 146) Licensing: Training of financial product advisers (RG 146). Details of these guides and contacts in ASIC are provided in the FNS10 Information Kit available on the IBSA website.
Pathways Information
Qualification Pathway
The primary pathway from this qualification is employment in a senior financial services industry management role.
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 |
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Employability Skill |
Industry /enterprise requirements for this qualification include : |
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
10 units must be achieved:
6 core units
plus 4 elective units
- the required elective units of competency may be selected from Groups A, B or C, 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 :
- BSBCOM603B Plan and establish compliance management systems
- BSBINM401A Implement workplace information system
- BSBMGT605B Provide leadership across the organisation
- FNSFMK505A Comply with financial services legislation and industry codes of practice
- FNSPRM601A Establish, supervise and monitor practice systems to conform with legislation and regulations
- FNSPRM606A Establish or review human resources, administration and information support
Elective units of competency :
Group A
- BSBOHS303B Contribute to OHS Hazard identification and risk assessment
- FNSRSK501A Undertake risk identification
- FNSRSK502A Assess risks
- FNSRSK601A Develop and implement risk mitigation plan
- FNSRSK602A Determine and manage risk exposure strategies
Group B
- FNSFMK510A Prepare trading strategies for clients
- FNSFMK601A Price financial transactions
- FNSFMK602A Hedge financial products
Group C (ASIC units that may be required for compliance with RG 146 )
- FNSASICS503A Provide advice in Foreign Exchange
- FNSASICV503A Provide advice in Derivatives
- FNSASICW503A Provide advice in Securities
- 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 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.