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Qualification details

FNS40811 - Certificate IV in Finance and Mortgage Broking (Release 2)

Summary

Usage recommendation:
Superseded
Mapping:
MappingNotesDate
Supersedes and is equivalent to FNS40810 - Certificate IV in Finance and Mortgage BrokingUnit changes in the core technology unit BSBWOR204A to BSBITU306A; compliance unit BSBCOM501B to FNSFMK505A, to better reflect workplace requirements - OUTCOMES EQUIVALENT 15/Jan/2012
Is superseded by and equivalent to FNS40815 - Certificate IV in Finance and Mortgage BrokingUpdated to meet Standards for Training Packages. 24/Mar/2015

Release Status:
Current
Releases:
ReleaseRelease date
2 (this release) 18/Jul/2013
(View details for release 1) 16/Jan/2012

Units of competency

CodeSort Table listing Units of Competency by the Code columnTitleSort Table listing Units of Competency by the Title columnEssentialSort Table listing Units of Competency by the Essential column
BSBCUS301B - Deliver and monitor a service to customersDeliver and monitor a service to customersElective
FNSCRD301A - Process applications for creditProcess applications for creditN/A
FNSFMB403A - Present broking options to clientPresent broking options to clientN/A
BSBWOR501B - Manage personal work priorities and professional developmentManage personal work priorities and professional developmentElective
FNSFMB402A - Provide finance and mortgage broking servicesProvide finance and mortgage broking servicesN/A
FNSINC401A - Apply principles of professional practice to work in the financial services industryApply principles of professional practice to work in the financial services industryN/A
FNSINC402A - Develop and maintain in-depth knowledge of products and services used by an organisation or sectorDevelop and maintain in-depth knowledge of products and services used by an organisation or sectorN/A
FNSSAM403A - Prospect for new clientsProspect for new clientsN/A
BSBITU306A - Design and produce business documentsDesign and produce business documentsN/A
FNSFMB501A - Settle applications and loan arrangements in the finance and mortgage broking industrySettle applications and loan arrangements in the finance and mortgage broking industryN/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 511 Certificate IV 
Taxonomy - Industry Sector N/A Broking,Financial Services 
Taxonomy - Occupation N/A Mortgage Broker,Finance Broker 

Classification history

SchemeCodeClassification valueStart dateEnd date
ANZSCO Identifier 552211 Credit and Loans Officer (Aus) / Finance Clerk (NZ)  02/Oct/2012 
ASCO (occupation type) Identifier 5912-11 Credit And Loans Officer 02/Oct/2012 
ASCED Qualification/Course Field of Education Identifier 0811 Banking, Finance And Related Fields 02/Oct/2012 
Qualification/Course Level of Education Identifier 511 Certificate IV 16/Jan/2012 
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Modification History

Release 

Comments 

Release 2

This version first released with FNS10 Financial Services Training Package version 5.0.

FNSASIC301C and FNSASIC302C added to the elective bank

Update imported units:
BSBCUS301A to BSBCUS301B;
BSBWOR501A to BSBWOR501B.

Qualification outcomes remain unchanged.

Release 1

This Qualification first released with FNS10 Financial Services Training Package version 2.0.

Replaced BSBWOR204A Use business technology BSBITU306A Design and produce business documents. This is considered a more appropriate unit for this qualification.

Replaces BSBCOM501B Identify and interpret compliance requirements with FNSFMK505 Comply with financial services legislation and industry codes of practices – this is considered a more appropriate unit for this qualification.

Replaces FNS40810 Certificate IV in Finance and Mortgage Broking.

Description

This qualification reflects the job roles of individuals working in finance broking (including mortgage broking).

Pathways Information

Pathways from the qualification 

The primary pathway from this qualification is employment in the finance and mortgage broking sector.

A further learning pathway utilising qualifications such as Diploma of Finance and Mortgage Broking Management would support career progression.

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

Not applicable.

Employability Skills Summary

The following table contains a summary of the employability skills required by industry for this qualification. The employability skills facets described here are broad industry requirements that may vary depending on qualification packaging options.

Employability Skill 

Industry/enterprise requirements for this qualification include: 

Communication

  • accessing professional networks and conducting cold calls
  • developing and writing reports to specifications
  • preparing and presenting correspondence in appropriate electronic format
  • questioning, listening and clarifying clients’ requirements
  • using effective telephone techniques and having the ability to negotiate resolutions with clients and colleagues
  • using excellent customer service skills and maintain an ongoing relationship with clients

Teamwork

  • building rapport and trust with clients and liaising and cooperating with a wide range of persons
  • liaising with clients and a range of other people internal and external to the organisation
  • referring matters to nominated person as required

Problem solving

  • analysing and synthesising information and determining levels of credit risk
  • calculating interest/loan repayments
  • checking the accuracy of calculations
  • collecting, comparing and contrasting data in order to create reports
  • comparing products and services in order to offer clients different options
  • identifying and resolving areas of client resistance
  • using problem solving tools and techniques

Initiative and enterprise

  • adapting to the special needs of customers
  • continually reviewing and applying emerging trends to product and service knowledge
  • generating a range of options in response to a client’s brief
  • responding to changed and changing situations

Planning and organising

  • gathering industry information through research
  • implementing internal monitoring/audit program to ensure ongoing compliance
  • maintaining statutory records
  • preparing, processing and settling loan applications
  • processing credit applications
  • processing documents and maintaining files, managing information and scheduling and coordinating competing tasks

Self-management

  • acting as a role model for others
  • applying time management strategies to own work schedule
  • asking for and responding to feedback on performance
  • defining and understanding own work role
  • planning own work schedule and monitoring and evaluating own work performance
  • presenting a positive organisational image
  • working ethically and complying with all industry codes of practice and legislative requirements

Learning

  • developing and maintaining personal competency
  • identifying opportunities for professional development identified
  • keeping up-to-date with legislative and policy changes within the industry and applying these to work practices
  • knowing and following workplace safety procedures
  • using online help for self-learning purposes

Technology

  • conducting web searches and using corporate templates
  • operating computers
  • using business technology to access, organise and monitor information using research data devices, telecommunication devices and related equipment
  • using word processing, spreadsheet and database entry skills to produce workplace documentation

Packaging Rules

12 units  must be achieved:

8 core units 

plus 4 elective units 

1 elective unit  must be selected from the elective units listed below.

The remaining 3 elective units  may be selected from the elective units listed below, any endorsed Training Package or accredited course. Elective units may be selected from a Certificate III, Certificate IV or Diploma qualification.

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

Core units of competency: 

  • FNSCRD301A Process applications for credit
  • 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
  • FNSFMK505A Comply with financial services legislation and industry codes of practice
  • FNSINC401A Apply principles of professional practice to work in the financial services industry
  • FNSINC402A Develop and maintain in-depth knowledge of products and services used by an organisation or sector
  • BSBITU306A Design and produce business documents

Elective units of competency: 

  • FNSASIC301C Establish client relationship and analyse needs
  • FNSASIC302C Develop, present and negotiate client solutions
  • FNSFMB501A Settle applications and loan arrangements in the finance and mortgage broking industry
  • FNSSAM403A Prospect for new clients
  • FNSCUS501A Develop and nurture relationships with clients, other professionals and third party referrers
  • BSBCUS301A Deliver and monitor a service to customers
  • BSBWOR501B Manage personal work priorities and professional development