Modification History
Not applicable.
Description
This qualification reflects job roles such as credit manager in a range of financial services and other industry enterprises.
The qualification includes the Units of Competency which could meet the educational requirements for the obtaining of an Australian Credit Licence (ACL). Conditions relating to ASIC accreditation should be obtained from ASIC.
The Commonwealth Government will assume responsibility for the Uniform Consumer Credit Code (UCCC) by enacting it as Commonwealth law. Consumer Credit Protection legislation was enhanced on 17 September 2009 and the Consumer Credit Reforms commenced on 1 July 2010. The Australian Securities and Investments Commission (ASIC) will administer credit provider regulation.
Anyone who engages in certain credit activities requires an ACL. They will need to:
- have registered with ASIC between 1 April and 30 June 2010 (inclusive) and apply for an Australian credit licence (ACL) between 1 July 2010 and 31 December 2010 (applicable only to currently registered credit participants)
- apply for an ACL from 1 July 2010 (applicable to new entrants to the credit market).
Pathways Information
Qualification Pathway
Preferred pathways for candidates entering this qualification include:
- FNS40110 Certificate IV in Credit Management
The primary pathway from this qualification is employment in a supervisory or managerial credit related role.
An Australian Apprenticeship pathway may be possible for this qualification depending on the State or Territory training authority declaration policy.
A further learning pathway utilising qualifications such as FNS60810 Advanced Diploma of Financial Risk Management or similar specialisations would support career progression.
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
12 units must be achieved:
7 core units
plus 5 elective units .
- the required elective units of competency can be selected from the elective bank below or from units aligned to other Diploma qualifications in the FNS10 Financial Services Training Package
- A maximum of 2 electives may be selected from units aligned to Certificate IV or Advanced Diploma qualifications in the FNS10 Financial Services Training Package
- A maximum of 3 electives may be selected from units aligned to Diploma or Advanced Diploma qualifications from 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 :
- BSBCOM405A Promote compliance with legislation
- BSBRSK501A Manage risk
- FNSCRD501A Respond to personal insolvency situations
- FNSCRD504A Manage the credit relationship
- FNSCRD505A Respond to corporate insolvency situations
- FNSINC401A Apply principles of professional practice to work in the financial services industry
- FNSORG502A Develop and monitor policy and procedures
Elective units of competency :
- BSBCOM402B Implement processes for the management of a breach in compliance
- BSBCUS501B Manage a quality customer service
- BSBINN601A Manage organisational change
- BSBMGT502B Manage people performance
- BSBMGT605B Provide leadership across the organisation
- BSBMGT617A Develop and implement a business plan
- BSBSMB407A Manage a small team
- BSBSUS501A Develop workplace policy and procedures for sustainability
- BSBWOR501A Manage personal work priorities and professional development
- FNSCNV506A Establish and manage a trust account
- FNSCRD404A Utilise the legal process to recover outstanding debt
- FNSCRD405A Manage overdue customer accounts
- FNSCRD502A Manage factoring and invoice discounting arrangements
- FNSCRD503A Promote understanding of the role and effective use of consumer credit
- FNSCUS504A Manage premium customer relationships
- FNSCUS505A Determine client requirements and expectations
- FNSORG507A Manage client service and business information
- FNSORG604A Establish outsourced services and monitor performance
- FNSRSK601A Develop and implement risk mitigation plan
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.