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Qualification details

FNS50311 - Diploma of Finance and Mortgage Broking Management (Release 2)

Summary

Usage recommendation:
Superseded
Mapping:
MappingNotesDate
Supersedes and is equivalent to FNS50310 - Diploma of Finance and Mortgage Broking ManagementUnit changes in the compliance unit BSBCOM501B to FNSFMK505A to better reflect workplace requirements; FNSRSK501A and FNSRSK502A; TAEDEL402A replaced TAADEL402B in electives most recent version - OUTCOMES EQUIVALENT 15/Jan/2012
Is superseded by and equivalent to FNS50315 - Diploma of Finance and Mortgage Broking ManagementUpdated to meet Standards for Training Packages. 24/Mar/2015

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

Delivery:
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Training packages that include this qualification

Units of competency

CodeSort Table listing Units of Competency by the Code columnTitleSort Table listing Units of Competency by the Title columnUsage RecommendationSort Table listing Units of Competency by the Usage Recommendation columnEssentialSort Table listing Units of Competency by the Essential column
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FNSFMB403A - Present broking options to clientPresent broking options to clientSupersededN/A
FNSFMB402A - Provide finance and mortgage broking servicesProvide finance and mortgage broking servicesSupersededN/A
BSBOHS303B - Contribute to OHS hazard identification and risk assessmentContribute to OHS hazard identification and risk assessmentDeletedN/A
BSBMGT605B - Provide leadership across the organisationProvide leadership across the organisationSupersededN/A
FNSORG502A - Develop and monitor policy and proceduresDevelop and monitor policy and proceduresSupersededN/A
BSBMGT515A - Manage operational planManage operational planSupersededN/A
FNSINC401A - Apply principles of professional practice to work in the financial services industryApply principles of professional practice to work in the financial services industrySupersededN/A
FNSRSK501A - Undertake risk identificationUndertake risk identificationSupersededN/A
BSBMGT502B - Manage people performanceManage people performanceSupersededN/A
BSBINM401A - IMPLEMENT WORKPLACE INFORMATION SYSTEMIMPLEMENT WORKPLACE INFORMATION SYSTEMSupersededN/A
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Classifications

SchemeCodeClassification value
ANZSCO Identifier 222112 Finance Broker 
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 421 Diploma 
Taxonomy - Industry Sector N/A Broking 
Taxonomy - Occupation N/A Mortgage Broker,Mortgage Broking Manager,Finance Broker,Insurance Broking Manager,Insurance Broker 

Classification history

SchemeCodeClassification valueStart dateEnd date
ANZSCO Identifier 222112 Finance Broker 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 421 Diploma 16/Jan/2012 
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Modification History

Release 

Comments 

Release 2

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

Update imported units:

BSBSMB405A to BSBSMB405B.

Qualification outcomes remain unchanged.

Release 1

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

Replaced BSBCOM501B Identify and interpret compliance requirements with FNSFMK505A Comply with financial services legislation with industry codes of practice.

Replace TAADEL404B with updated unit TAEDEL402A Plan, Organise and facilitate learning in the workplace.

Additional electives have been added:

  • FNSRSK501A Undertake risk identification
  • FNSRSK502A Assess risks.

Replaces FNS50310 Diploma of Finance and Mortgage Broking Management.

Description

This qualification reflects management job roles in finance and mortgage broking, including roles that are independent, undertaken through an aggregator, or involve managing a workplace team.

Pathways Information

Pathways into this qualification 

Pathways for candidates entering this qualification include:

  • Certificate IV in Finance and Mortgage Broking

Pathways from this qualification 

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

Licensing/Regulatory Information

There is no direct link between this qualification and licensing, legislative and/or regulatory requirements. However, where required, a unit of competency will specify relevant licensing, legislative and/or regulatory requirements that impact on the unit.

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 SKILLS QUALIFICATION SUMMARY

Employability Skill

Industry/enterprise requirements for this qualification include:

Communication
  • building trust and a rapport with clients
  • developing and writing reports to specifications
  • documenting clients’ complex or special needs to protect interests of clients and broker
  • interpreting client requirements and tailoring products to meet their needs
  • preparing and presenting correspondence in appropriate electronic format
  • presenting complex information to the client
  • questioning, listening and clarifying clients’ requirements
  • using effective telephone techniques and having the ability to negotiate solutions with clients and colleagues
  • using excellent customer service skills and maintaining an ongoing relationship with clients
  • using excellent interpersonal skills to meet a client’s personal needs

Teamwork
  • conducting performance appraisals
  • consulting other financial services professionals as required
  • coordinating actions with other professionals
  • making constructive contributions to group decision making processes
  • managing the process of monitoring and reviewing team performance
  • providing feedback, support and encouragement to team members

Problem solving
  • checking the accuracy of calculations
  • conducting trend and risk analyses including product modelling
  • determining security protocols
  • identifying and resolving inconsistencies in information
  • identifying OHS hazards and risk control
  • planning for contingencies and using problem solving techniques to resolve workplace issues
  • testing strategic assumptions
  • undertaking risk identification, evaluating risk controls and conducting probability assessments

Initiative and enterprise
  • analysing, modelling, prioritising and measuring risk loan structures/options
  • aligning customer characteristics to ‘best product’
  • continuously reviewing and applying emerging industry trends to product and service knowledge
  • generating a range of options for clients to consider

Planning and organising
  • coordinating people, resources and or equipment to achieve optimum results
  • creating action plans for complex loans to meet timelines and priorities
  • establishing and maintaining records
  • undertaking research and developing complex solutions

Self-management
  • acting as a role model for others
  • managing own time and priorities and dealing with contingencies
  • planning one’s work schedule and monitoring and evaluating own work performance
  • understanding own work role and working within it
  • working ethically and complying with all industry codes of practice and legislative requirements

Learning
  • adapting to change in technology and/or work practices
  • developing and maintaining personal competency
  • following workplace safety procedures
  • identifying and encouraging opportunities for professional development
  • seeking assistance and expert advice on behalf of clients

Technology
  • applying technology through the utilisation and application of computers, organisational software, organisational templates and telecommunication devices
  • conducting web searches to research information
  • using business technology to access, organise and monitor information

Packaging Rules

15 units  must be achieved:

10 core units 

plus 5 elective units. 

3 elective units  must be selected from the elective units listed below.

The remaining 2 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 IV, Diploma or Advanced Diploma qualification.

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

Core units of competency: 

  • FNSCUS501A Develop and nurture relationships with clients, other professionals and third party referrers
  • 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
  • FNSFMB502A Identify and develop complex broking options for client
  • FNSFMB503A Present broking options to client with complex needs
  • FNSFMB504A Implement complex loan structures
  • FNSFMK505A Comply with financial services legislation and industry codes of practice 
  • FNSINC401A Apply principles of professional practice to work in the financial services industry
  • BSBRSK401A Identify risk and apply risk management processes

Elective units of competency: 

  • FNSFMB501A Settle applications and loan arrangements in the finance and mortgage broking industry
  • FNSORG502A Develop and monitor policy and procedures
  • FNSPRM601A Establish, supervise and monitor practice systems to conform with legislation and regulations
  • FNSPRM602A Improve the practice
  • FNSPRM603A Grow the practice
  • FNSRSK501A Undertake risk identification
  • FNSRSK502A Assess risks
  • FNSRSK602A Determine and manage risk exposure strategies
  • BSBINM401A Implement workplace information system
  • BSBMGT502B Manage people performance
  • BSBMGT515A Manage operational plan
  • BSBMGT605B Provide leadership across the organisation
  • BSBOHS303B Contribute to OHS hazard identification and risk assessment
  • BSBSMB405B Monitor and manage small business operations
  • BSBSUS501A Develop workplace policy and procedures for sustainability
  • TAEDEL402A Plan, organise and facilitate learning in the workplace
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