This qualification is designed to reflect job roles requiring specialist understanding of financial products and services working in banking, customer contact centre or retail financial services environments.
For current advice on ASIC compliance under RG146 refer to the advice bulletin on the IBSA website or contact ASIC.
Subjects
12 units must be achieved:
5 core units
plus7 elective units
3 elective units must be selected from Group A.
A further 1 elective unit must be selected from Group A or B.
The remaining 3 elective units may be selected from the elective units listed below, any endorsed Training Package or accredited course. Elective units may be selected from a Certificate IV or Diploma qualification; 1 elective unit may be selected from a Certificate III qualification.
Elective units must be relevant to the work outcome, local industry requirements and the qualification level.
Core units of competency:
FNSINC401A Apply principles of professional practice to work in the financial services industry
FNSINC402A Develop and maintain in-depth knowledge of products and services used by an organisation or sector
BSBWOR501A Manage personal work priorities and professional development
Requirements for ASIC RG146 compliance are:
In order to achieve tier 2 competence in Basic Deposit Products, participants must provide evidence for assessment of these units of competence with specific reference to the Specialist Knowledge for these areas in the Evidence Guide.
FNSASIC301C Establish client relationship and analyse needs
FNSASIC302C Develop, present and negotiate client solutions
In order to achieve tier 2 competence in Non Cash payment facilities, participants must provide evidence for assessment of these units of competence with specific reference to the Specialist Knowledge for these areas in the Evidence Guide.
FNSASIC301C Establish client relationship and analyse needs
FNSASIC302C Develop, present and negotiate client solutions
Pathways...
The primary pathway from this qualification is employment in the financial services sectors noted above with typical job roles such as:
senior sales consultant
lending consultant
lending officer
team leader or supervisor
customer contact centre service consultant
A further learning pathway utilising qualifications such as Diploma of Banking Services Management would support career progression.
Entry Requirements
Not applicable.
Licensing Information
Not applicable.
Employability Skills
The following table contains a summary of the employability skills required by industry for this qualification. The employability skills facets described here are broad industry requirements that may vary depending on qualification packaging options.
Employability Skill
Industry/enterprise requirements for this qualification include:
Communication
assisting clients to identify financial goals and to prioritise and assess their current financial situation
using sales techniques to inform clients of suitable products and services
using excellent interpersonal, telephone and written skills
Teamwork
developing a rapport with clients when identifying their needs, objectives and financial situation
working with others in a sales team to identify new client bases
liaising with clients and a range of other people internal and external to the organisation
Problem solving
applying risk management criteria in assessing client needs
collecting, comparing and contrasting data
comparing products and services in order to offer clients different options
determining interest/loan repayments
matching products to customer needs
Initiative and enterprise
generating a range of options for clients to consider
referring non-routine problems to a nominated person
proactively securing leads or referrals
translating ideas into action
Planning and organising
contributing to the planning process by researching, analysing and validating information relating to financial products
processing routine documents and maintaining files, managing information and scheduling and coordinating competing tasks
Self-management
acting as a role model for others
defining and understanding own work role
taking to management, concerns with own level of responsibility
understanding and acting to ensure client requirements are met
working ethically and complying with organisational, professional code of practice and legislative requirements, including FSR compliance
Learning
acquiring and applying knowledge of financial products and services
applying learning to develop improved practices
contributing to the learning of others through implementing team building exercises
developing and maintaining professional competency
Technology
operating the organisation’s business or records management system
using business technology such as computers and applying word processing, spreadsheet and database skills to produce workplace documents
using CMS or related applications to record and tack customer profiles and contact details
using technology to assist the management of information and to assist the planning process