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Qualification details

FNS60720 - Advanced Diploma of Financial Licensing Management (Release 2)

Summary

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes FNS60715 - Advanced Diploma of Financial Licensing Management 30/Jun/2020

Release Status:
Current
Releases:
ReleaseRelease date
2 (this release) 12/Feb/2021
(View details for release 1) 01/Jul/2020


Units of competency

CodeSort Table listing Units of Competency by the Code columnTitleSort Table listing Units of Competency by the Title columnUsage RecommendationSort Table listing Units of Competency by the Usage Recommendation columnEssentialSort Table listing Units of Competency by the Essential column
FNSFMK516 - Review and confirm human resources and IT systems satisfy requirements of licenceReview and confirm human resources and IT systems satisfy requirements of licenceCurrentCore
FNSRSK612 - Determine and manage risk exposure strategiesDetermine and manage risk exposure strategiesCurrentElective
FNSFMK521 - Analyse financial markets and informationAnalyse financial markets and informationCurrentElective
FNSCUS506 - Record and implement client instructionsRecord and implement client instructionsSupersededElective
FNSASICT503 - Provide advice in managed investmentsProvide advice in managed investmentsCurrentElective
FNSINC501 - Conduct product research to support recommendationsConduct product research to support recommendationsSupersededElective
FNSRSK611 - Develop and implement risk mitigation planDevelop and implement risk mitigation planCurrentElective
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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 13/Aug/2020 
ASCED Qualification/Course Field of Education Identifier 0811 Banking, Finance And Related Fields 13/Aug/2020 
Qualification/Course Level of Education Identifier 411 Advanced Diploma 01/Jul/2020 
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Modification History

Release 

Comments 

Release 2

This version first released with FNS Financial Services Training Package Version 6.1.

The following elective units of competency have been deleted as directed by the AISC:

  • FNSASICL503 Provide advice in the regulated emissions market.

The above training products were identified as having zero enrolments over a three year period.

Release 1

This version first released with FNS Financial Services Training Package Version 4.0.

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 is used may be subject to regulatory requirements. Refer to 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  of which:

  • 3 units must be selected from the electives listed below,
  • up to 2 units may be selected from the electives listed below, or from a Diploma or Advanced Diploma in any currently endorsed training package or accredited course.

Elective units must be relevant to the work environment and the qualification, maintain the overall integrity of the AQF alignment and contribute to a valid vocational outcome.

Core Units 

FNSINC503 Identify situations requiring complex ethical decision making

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

FNSFMK516 Review and confirm human resources and IT systems satisfy requirements of licence

FNSFMK523 Comply with requirements of licence and regulatory framework

FNSFMK619 Develop and implement policies and procedures to support organisational values and culture

Elective Units 

Group A

Financial risk management

FNSRSK511 Undertake risk identification

FNSRSK512 Assess risks

FNSRSK611 Develop and implement risk mitigation plan

FNSRSK612 Determine and manage risk exposure strategies

Group B

Financial markets

FNSFMK520 Develop and monitor risk management strategies for clients

FNSFMK521 Analyse financial markets and information

FNSFMK611 Price financial transactions

FNSFMK612 Manage trading exposures

FNSFMK513 Undertake assessment of product and advice suitability for non-retail clients

Group C

Client advisory roles

FNSASICS503* Provide advice in foreign exchange

FNSASICV503* Provide advice in derivatives

FNSASICW503* Provide advice in securities

FNSASICT503* Provide advice in managed investments

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

FNSFMK515 Comply with financial services legislation and industry codes of practice

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

*Note the following prerequisite unit requirements:

Unit in this qualification 

Prerequisite unit 

FNSASICS503 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

FNSASICT503 Provide advice in managed investments

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

**FNSFMK521 Analyse financial markets and information is the updated and equivalent version of FNSFMK501 Analyse financial markets information.

Qualification Mapping Information

No equivalent qualification. Supersedes and is not equivalent to FNS60715 Advanced Diploma of Financial Licensing Management.

Links

Companion Volume Implementation Guide is found on VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe