Qualification details

Modification History

Qualification Description

This qualification is designed to flexibly reflect job roles with team and business result responsibilities in superannuation environments. At this level individuals are expected to apply specialist skills and knowledge in a range of situations to deal with complex situations and issues relating to business systems, compliance and working with trustees and/or outsourced service providers. They work across a broad range of technical or management functions with accountability for personal outputs and for team outcomes.

Licensing/Regulatory Information  

Work functions in the occupational areas where this qualification may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.

Entry Requirements

The entry requirement for this qualification is completion of 5 units of competency, comprising:

FNSINC402A Develop and maintain in-depth knowledge of products and services used by an organisation or sector (from FNS50715 or FNS50711 Diploma of Superannuation, or equivalent)

and 

4 superannuation elective units (SUP code) from:

• FNS50715 Diploma of Superannuation, or
• FNS50711 Diploma of Superannuation, or
• FNS50904 Diploma of Finance (Superannuation) (SUPR code), or equivalent.

Packaging Rules

Total number of units = 12 

2 core units  plus

10 elective  units

The elective units consist of:

• 2 from Group B
• 5 from Group A, Group B, Group C or Group D

Of the remaining 3 units:

• 3 may be from the electives below
• 2 may be from a Diploma in any endorsed training package or accredited course
• 1 may be from an Advanced Diploma in any endorsed training package or accredited course.

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

Units selected from other training packages or accredited courses must not duplicate units selected from or available within the Financial Services or Business Services Training Packages.

Core Units 

FNSCUS601 Establish, manage and monitor key relationships

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

Elective Units 

Group A 

Superannuation advice 

FNSASICU503* Provide advice in superannuation

FNSCUS505 Determine client requirements and expectations

FNSCUS506 Record and implement client instructions

FNSIAD501 Provide appropriate services, advice and products to clients

FNSINC501 Conduct product research to support recommendations

Group B 

Fund trustee 

FNSSUP601 Liaise with and support trustees

FNSSUP602 Manage official complaints procedures and proceedings

FNSSUP603 Integrate investment strategy with fund operations

Group C 

Self-managed superannuation funds 

FNSSMS601 Provide advice in self-managed superannuation funds

FNSSMS602 Apply taxation requirements to advising in self-managed superannuation funds

FNSSMS603 Apply legislative and operational requirements when advising in self-managed superannuation funds

Group D 

Organisational support 

BSBCOM602 Develop and create compliance requirements

BSBCOM603 Plan and establish compliance management systems

BSBMGT605 Provide leadership across the organisation

FNSORG602 Develop and manage financial systems

FNSORG603 Establish and prepare operational guidelines in a financial services organisation

FNSORG604 Establish outsourced services and monitor performance

FNSPRM605 Establish or review marketing, client services and supplier relationships

FNSPRM606 Establish or review human resources, administration and information support

FNSRSK601 Develop and implement risk mitigation plan

FNSSAM602 Identify and evaluate marketing opportunities in the financial services industry

FNSSAM603 Tailor financial products to meet customer needs

FNSSAM604 Establish agreements with intermediaries for product distribution

Group E 

General 

BSBINN501 Establish systems that support innovation

BSBITB501 Establish and maintain a workgroup computer network

BSBSUS501 Develop workplace policy and procedures for sustainability

FNSACC505 Establish and maintain accounting information systems

FNSCUS505 Determine client requirements and expectations

FNSCUS506 Record and implement client instructions

FNSIAD501 Provide appropriate services, advice and products to clients

FNSINC501 Conduct product research to support recommendations

FNSINC503 Identify situations requiring complex ethical decision making

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

FNSORG501 Develop and manage a budget

FNSORG504 Monitor and supervise work practices to meet financial services regulatory requirements

FNSSMS501 Invest self-managed superannuation funds assets

FNSSMS505 Support trustee in the selection and performance monitoring of outsourced services

FNSSUP501 Supervise complaints procedures

FNSSUP504 Provide advanced customer service to superannuation clients

*Note the following prerequisite unit requirements:

Qualification Mapping Information

Links

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