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Qualification details

FNS50315 - Diploma of Finance and Mortgage Broking Management (Release 5)

Summary

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes and is equivalent to FNS50311 - Diploma of Finance and Mortgage Broking ManagementUpdated to meet Standards for Training Packages. 24/Mar/2015

Release Status:
Current
Releases:
ReleaseRelease date
5 (this release) 13/Feb/2018
(View details for release 4) 12/Sep/2016
(View details for release 3) 14/Jan/2016
(View details for release 2) 22/Apr/2015
(View details for release 1) 25/Mar/2015


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
FNSFMB401 - Prepare loan application on behalf of finance or mortgage broking clientsPrepare loan application on behalf of finance or mortgage broking clientsCore
FNSPRM603 - Grow the practiceGrow the practiceElective
FNSFMB402 - Identify client needs for broking servicesIdentify client needs for broking servicesCore
FNSPRM601 - Establish, supervise and monitor practice systems to conform with legislation and regulationsEstablish, supervise and monitor practice systems to conform with legislation and regulationsElective
FNSFMK505 - Comply with financial services regulation and industry codes of practiceComply with financial services regulation and industry codes of practiceCore
BSBINM401 - Implement workplace information systemImplement workplace information systemElective
FNSRSK602 - Determine and manage risk exposure strategiesDetermine and manage risk exposure strategiesElective
FNSCUS501 - Develop and nurture relationships with clients, other professionals and third party referrersDevelop and nurture relationships with clients, other professionals and third party referrersCore
FNSINC503 - Identify situations requiring complex ethical decision makingIdentify situations requiring complex ethical decision makingElective
BSBMGT502 - Manage people performanceManage people performanceElective
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Classifications

SchemeCodeClassification value
ANZSCO Identifier 222112 Finance Broker 
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 Broking Manager,Insurance Broker,Mortgage Broker,Finance Broker,Insurance Broking Manager 

Classification history

SchemeCodeClassification valueStart dateEnd date
ANZSCO Identifier 222112 Finance Broker 30/Jul/2015 
ASCED Qualification/Course Field of Education Identifier 0811 Banking, Finance And Related Fields 30/Jul/2015 
Qualification/Course Level of Education Identifier 421 Diploma 25/Mar/2015 
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Modification History

Release 

Comments 

Release 5

This version released with FNS Financial Services Training Package version 3.0

Release 5 created to update elective unit list

Release 4

This version released with FNS Financial Services Training Package version 2.1

Release 4 created to update elective unit list

Release 3

This version released with FNS Financial services Training Package version 2.0

Release 3 created to correct typographical error

Release 2

This version released with FNS Financial Services Training Package version 1.1

Release 2 created to correct typographical error

Release 1

This Qualification first released with FNS Financial Services Training Package version 1.0

Qualification Description

This qualification reflects management roles in finance and mortgage broking where work is undertaken independently, through an aggregator, or involves managing a workplace team. At this level individuals are expected to apply theoretical knowledge and specialised skills in a range of situations and to display initiative and judgement in planning activities. They have autonomy in performing complex technical operations and may be responsible for the work of others within broad but generally well-defined parameters.

Licensing/Regulatory Information

No licensing or certification requirements apply to this qualification at the time of publication. However, some units will specify relevant licensing, legislative and/or regulatory requirements that impact on the unit. Refer to the FNS Implementation Guide Companion Volume for guidance on requirements.

Entry Requirements

Nil

Packaging Rules

Total number of units = 15 

10 core units  plus

5 elective  units

The elective units consist of:

  • 3 from the electives below.

Of the remaining 2 units:

  • up to 2 may be from the electives
  • up to 2 may be from Certificate IV, Diploma or Advanced Diploma in any currently endorsed training package or accredited course.

The elective units chosen must be relevant to the work outcome and meet local industry needs.

Core Units 

BSBRSK401 Identify risk and apply risk management processes

FNSCUS501 Develop and nurture relationships with clients, other professionals and third party referrers

FNSFMB401 Prepare loan application on behalf of finance or mortgage broking clients

FNSFMB402 Identify client needs for broking services

FNSFMB403 Present broking options to client

FNSFMB502 Identify and develop broking options for client s with complex needs

FNSFMB503 Present broking options to client with complex needs

FNSFMB504 Implement complex loan structures

FNSFMK505 Comply with financial services legislation and industry codes of practice

FNSINC401 Apply principles of professional practice to work in the financial services industry

Elective Units 

BSBINM401 Implement workplace information system

BSBMGT502 Manage people performance

BSBMGT517 Manage operational plan

BSBMGT605 Provide leadership across the organisation

BSBSMB405 Monitor and manage small business operations

BSBSUS501 Develop workplace policy and procedures for sustainability

BSBWHS303 Participate in WHS hazard identification, risk assessment and risk control

FNSFMB501 Settle applications and loan arrangements in the finance and mortgage broking industry

FNSINC503 Identify situations requiring complex ethical decision making

FNSINC504 Apply ethical frameworks and principles to make and act upon decisions

FNSORG502 Develop and monitor policy and procedures

FNSPRM601 Establish, supervise and monitor practice systems to conform with legislation and regulations

FNSPRM602 Improve the practice

FNSPRM603 Grow the practice

FNSRSK501 Undertake risk identification

FNSRSK502 Assess risks

FNSRSK602 Determine and manage risk exposure strategies

TAEDEL402 Plan, organise and facilitate learning in the workplace

Qualification Mapping Information

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNS50315 Diploma of Finance and Mortgage Broking Management (Release 5)

FNS50315 Diploma of Finance and Mortgage Broking Management (Release 4)

Elective unit list updated

Equivalent qualification

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe