Qualification details

Release 

Comments 

Release 2

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

Update imported units BSBCOM603B to BSBCOM603C

Identified prerequisite units in the packaging rules.

Advice relating to ASIC requirements removed from the qualification.

Qualification outcomes remain unchanged.

Release 1

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

Remove units as not suited to this qualification:

• BSBINM401A Implement workplace information system
• BSBOHS303B Contribute to OHS hazard identification and risk assessment,

Packaging rules for this qualification have been changed to 5 core units and 4 electives.
Replaces FNS60710 Advanced Diploma of Financial Licensing Management.

Employability Skill 

Industry/enterprise requirements for this qualification include: 

Communication

• developing a rapport with team members and clients and communicating ideas and information cognisant of clients’ social and cultural diversity and special needs
• documenting clients’ complex or special needs to protect interests of client and financial planner
• negotiating to resolve financial planning issues
• presenting complex information to clients and colleagues in plain language
• questioning, clarifying and evaluating information
• researching and consulting with a wide range of users internal and external to the organisation
• using a range of techniques to elicit feedback from team members, clients and regulatory agencies

Teamwork

• coaching and mentoring staff on new skills
• coordinating financial planning activities with other professionals
• delegating and briefing various personnel on their roles and responsibilities
• demonstrating leadership in maintaining compliance with regulatory requirements and organisational policies and procedures
• producing a positive and productive workplace that encourages maximum participation

Problem solving

• applying estimating, forecasting and analysis skills
• collecting and analysing data
• comparing and contrasting data
• testing and assessing the integrity of information
• using analytical, evaluative and deductive reasoning skills

Initiative and enterprise

• assessing an organisation's compliance status and outstanding issues
• developing innovative strategies to ensure the organisation meets its legal and regulatory obligations
• identifying new and emerging opportunities and developing strategies to capitalise on them
• monitoring the external environment and identifying emerging practices and trends

Planning and organising

• coordinating people, resources and/or equipment to achieve optimum results
• developing action plans to meet licensing and compliance requirements, timelines and priorities
• establishing and maintaining documentation and records
• undertaking complex research and developing complex solutions

Self-management

• acting as a role model for others
• managing own time and priorities and dealing with contingencies
• taking responsibility as required by work role and ensuring all organisational policies and procedures are followed
• working ethically and complying with all industry codes of practice and legislative requirements

Learning

• adapting to change in technology and/or work practices
• contributing to the learning of others by providing coaching, conducting team meetings and supplying information
• developing and maintaining personal competence
• identifying opportunities for professional development
• maintaining currency of knowledge of compliance issues and financial products and services
• using online help for self-learning purposes

Technology

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

Code and title 

Pre-requisite units required 

FNSAISCS503A Provide advice in Foreign Exchange

FNSINC501A Conduct product research to support recommendations

FNSIAD501A Provide appropriate services, advice and products to clients

FNSCUS505A Determine client requirements and expectations

FNSCUS506A Record and implement client instructions

FNSASICV503A Provide advice in Derivatives

FNSFMK502A Analyse financial market products for client

FNSFMK503A Advise clients on financial risk

FNSCUS505A Determine client requirements and expectations

FNSCUS506A Record and implement client instructions

FNSASICW503A Provide advice in Securities

FNSFMK502A Analyse financial market products for client

FNSFMK503A Advise clients on financial risk

FNSCUS505A Determine client requirements and expectations

FNSCUS506A Record and implement client instructions