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Qualification details

FNS60715 - Advanced Diploma of Financial Licensing Management (Release 4)

Summary

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes and is equivalent to FNS60711 - Advanced Diploma of Financial Licensing ManagementUpdated to meet Standards for Training Packages. Packaging rules updated. 24/Mar/2015

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


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 columnEssentialSort Table listing Units of Competency by the Essential column
BSBCOM603 - Plan and establish compliance management systemsPlan and establish compliance management systems Core
BSBMGT605 - Provide leadership across the organisationProvide leadership across the organisation Core
FNSASICS503 - Provide advice in foreign exchangeProvide advice in foreign exchange Elective
FNSASICV503 - Provide advice in derivativesProvide advice in derivatives Elective
FNSASICW503 - Provide advice in securitiesProvide advice in securities Elective
FNSCUS504 - Manage premium customer relationshipsManage premium customer relationships Elective
FNSCUS505 - Determine client requirements and expectationsDetermine client requirements and expectations Elective
FNSCUS506 - Record and implement client instructionsRecord and implement client instructions Elective
FNSFMK502 - Analyse financial market products for clientAnalyse financial market products for client Elective
FNSFMK503 - Advise clients on financial riskAdvise clients on financial risk Elective
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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 411 Advanced Diploma 
Taxonomy - Industry Sector N/A Financial Services 
Taxonomy - Occupation N/A Responsible Manager (Financial Markets Organisation) 

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 411 Advanced Diploma 25/Mar/2015 
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Modification History

Release 

Comments 

Release 4

This version released with FNS Financial Services Training Package version 3.0

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 update packaging rules

Release 2

This Qualification first released with FNS Financial Services Training Package version 1.1.

Release 2 created to correct typographical errors.

Release 1

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

Qualification Description

This qualification is designed for individuals occupying the position of responsible manager in a financial services organisation. At this level individuals are expected to apply specialist skills and knowledge in a range of situations to deal with complex situations and issues. 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

Nil.

Packaging Rules

Total number of units = 10 

5 core units  plus

5 elective  units

The elective units consist of:

  • up to 5 from the electives below
  • up to 3 may be from a 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 

BSBCOM603 Plan and establish compliance management systems

BSBMGT605 Provide leadership across the organisation

FNSFMK505 Comply with financial services legislation and industry codes of practice

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

FNSPRM606 Establish or review human resources, administration and information support

Elective Units 

Group A 

Financial risk management 

FNSRSK501 Undertake risk identification

FNSRSK502 Assess risks

FNSRSK601 Develop and implement risk mitigation plan

FNSRSK602 Determine and manage risk exposure strategies

Group B 

Financial markets 

FNSFMK510 Prepare trading strategies for clients

FNSFMK601 Price financial transactions

FNSFMK602 Hedge financial products

Group C 

ASIC units 

FNSASICS503* Provide advice in foreign exchange

FNSASICV503* Provide advice in derivatives

FNSASICW503* Provide advice in securities

Group D 

General financial services units 

FNSCUS504 Manage premium customer relationships

FNSCUS505 Determine client requirements and expectations

FNSCUS506 Record and implement client instructions

FNSFMK502 Analyse financial market products for client

FNSFMK503 Advise clients on financial risk

FNSIAD501 Provide appropriate services, advice and products to clients

FNSIAD502 Provide appropriate and timely information and advice 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

*Note the following prerequisite unit requirements:

Unit in this qualification

Prerequisite unit

FNSAISCS503 Provide advice in foreign exchange

FNSINC501 Conduct product research to support recommendations

FNSIAD501 Provide appropriate services, advice and products to clients

FNSCUS505 Determine client requirements and expectations

FNSCUS506 Record and implement client instructions

FNSASICV503 Provide advice in derivatives

FNSFMK502 Analyse financial market products for client

FNSFMK503 Advise clients on financial risk

FNSCUS505 Determine client requirements and expectations

FNSCUS506 Record and implement client instructions

FNSASICW503 Provide advice in securities

FNSFMK502 Analyse financial market products for client

FNSFMK503 Advise clients on financial risk

FNSCUS505 Determine client requirements and expectations

FNSCUS506 Record and implement client instructions

Qualification Mapping Information

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNS60715 Advanced Diploma of Financial Licensing Management (Release 4)

FNS60715 Advanced Diploma of Financial Licensing Management (Release 3)

Updates to unit elective list

Equivalent qualification

Links

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