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FNS04 Financial Services TrainingPackage
Volume 1 of 3
Version Number: 2Review Date: 31 October 2007
FNS04Financial Services Training Package
Volume 1 of 3Financial Services Training Package (Volume 1 - Introduction,
Qualifications Framework, Assessment Guidelines)
Volume 1 contains:
• Introduction• Qualifications Framework• Assessment Guidelines• Competency Standards - Industry Capability
Volume 2 contains Competency Standards for:
• Accounting• Bookkeeping• Conveyancing• Credit/Lending Services and Debt Management• Finance/Mortgage Broking• Financial Literacy• Financial Markets• Financial Planning• General Insurance• Insurance Sectors
Volume 3 contains Competency Standards for:
• Insurance Services• Mercantile Agents• Personal Trustee• Practice Management• Risk Management and Compliance• Retail Financial Services and Banking• Superannuation
This volume should not be used in isolation but in the context of the complete set for theFNS04 Financial Services Training Package.
The material contained within this volume is part of the endorsed component of the FNS04Financial Services Training Package endorsed by the National Training Quality Council(NTQC) on 7 October 2004 and agreed by the Ministers. This Training Package is to bereviewed by 31 October 2007.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007Title Page
Volume 1 of 3 Page 1 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
FNS04 - Financial Services Training Package
© Commonwealth of Australia 2007
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Use of this work for purposes other than those indicated above, requires the prior writtenpermission from the Commonwealth. Requests should be addressed to Training Copyright,Department of Education, Science and Training, GPO Box 9880 Canberra City, ACT, 2601or email [email protected].
This work is the result of wide consultations with Australian industry participants. It is acollaborative view and does not necessarily represent the view of DEST or any specific body.For the sake of brevity it may omit factors which could be pertinent in particular cases.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007Imprint Page
Volume 1 of 3 Page 2 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
While care has been taken in the preparation of this Training Package, DEST and theoriginal developer do not warrant that any licensing or registration requirements specifiedhere are either complete or up-to-date for your State or Territory. DEST and the originaldeveloper do not accept any liability for any damage or loss (including indirect andconsequential loss) incurred by any person as a result of relying on the information containedin this Training Package.
The Commonwealth, through the Department of Education, Science and Training, does notaccept any liability to any person for the information or advice (or the use of such informationor advice) which is provided in this material or incorporated into it by reference. Theinformation is provided on the basis that all persons accessing this material undertakeresponsibility for assessing the relevance and accuracy of its content. No liability is acceptedfor any information or services which may appear in any other format. No responsibility istaken for any information or services which may appear on any linked websites.
Published by:
First published: 30 June 2007
ISBN: 978-1-921108-73-0
Printed by:
AEShareNet Code: P
Print Version No: 2
Release Date: 21/09/2007
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007Imprint Page
Volume 1 of 3 Page 3 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
TABLE OF CONTENTS
Preliminary Information .......................................................................................................................................6
Important Note to Users...................................................................................................................................... 6Summary of AQF qualifications in this Training Package................................................................................... 8Units of competency in this Training Package and their prerequisites..............................................................10Imported units of competency in this Training Package....................................................................................25
Summary mapping of FNS04 Financial Services Training Package to previous Financial ServicesTraining Packages.............................................................................................................................................. 26
FNS04 Financial Services Training Package -..................................................................................................26Mapping of Qualifications.................................................................................................................................. 26FNS04 Financial Services Training Package -..................................................................................................30Mapping of Competency Standards.................................................................................................................. 30
Overview............................................................................................................................................................ 149
What is a Training Package? ......................................................................................................................... 149Training Package Endorsed Components ......................................................................................................150Training Package, Qualification and Unit of Competency Codes ...................................................................151Training Package, Qualification and Unit of Competency Titles .................................................................... 152
Introduction to the FNS04 Financial Services Training Package................................................................. 153
Overview......................................................................................................................................................... 153New Apprenticeship and Traineeship Pathways............................................................................................. 154Packaging of the competency standards within the Training Package to the Australian QualificationsFramework (AQF)............................................................................................................................................154ASIC Compliance............................................................................................................................................ 155
Qualifications Framework................................................................................................................................ 157
The Australian Qualifications Framework........................................................................................................157New Qualifications in the Australian Qualifications Framework...................................................................... 162Recommended FNS50904 Diploma of Financial Services (Superannuation) Pathway Options.................... 162Skill Sets..........................................................................................................................................................164Skill Sets..........................................................................................................................................................164Skill sets for corporate superannuation fund trustee work.............................................................................. 165Skill sets for self managed superannuation fund trustee work........................................................................ 165
Employability Skills.......................................................................................................................................... 167
Industry requirements for Employability Skills..............................................................................................170
Qualifications.................................................................................................................................................... 173
FNS10104 Certificate I in Financial Services.................................................................................................. 173FNS20104 Certificate II in Financial Services................................................................................................. 175FNS30107 Certificate III in Financial Services................................................................................................ 178FNS30304 Certificate III in Financial Services (Accounts Clerical).................................................................183FNS30404 Certificate III in Financial Services (Mercantile Agents)................................................................187FNS30507 Certificate III in Financial Services (Workers Compensation)....................................................... 191FNS40107 Certificate IV in Financial Services................................................................................................195FNS40204 Certificate IV in Financial Services (Personal Trust Administration)............................................. 202FNS40207 Certificate IV in Financial Services (Bookkeeping)....................................................................... 206FNS40304 Certificate IV in Financial Services (Credit Management).............................................................210FNS40604 Certificate IV in Financial Services (Accounting).......................................................................... 214FNS40704 Certificate IV in Financial Services (Financial Practice Support).................................................. 218FNS40804 Certificate IV in Financial Services (Finance/Mortgage Broking).................................................. 222FNS40904 Certificate IV in Financial Services (Superannuation)...................................................................226FNS41007 Certificate IV in Financial Services (Workers Compensation).......................................................230FNS50107 Diploma of Financial Services.......................................................................................................234FNS50204 Diploma of Accounting.................................................................................................................. 247FNS50504 Diploma of Financial Services (Finance/Mortgage Broking Management)................................... 251FNS50604 Diploma of Financial Services (Conveyancing).............................................................................256FNS50704 Diploma of Financial Services (Personal Trustees)...................................................................... 260FNS50804 Diploma of Financial Services (Financial Planning)...................................................................... 264FNS50904 Diploma of Financial Services (Superannuation).......................................................................... 268
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007Table of Contents
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FNS51004 Diploma of Financial Services (Financial Markets)....................................................................... 272FNS51104 Diploma of Financial Risk Management........................................................................................276FNS51204 Diploma of Financial Services (Banking)...................................................................................... 280FNS51304 Diploma of Financial Services (Consumer Education)..................................................................284FNS51407 Diploma of Personal Injury Management (Workers Compensation)............................................. 288FNS60104 Advanced Diploma of Financial Services......................................................................................292FNS60204 Advanced Diploma of Accounting................................................................................................. 295FNS60304 Advanced Diploma of Financial Services (Conveyancing)............................................................299FNS60404 Advanced Diploma of Financial Services (Financial Planning)..................................................... 304FNS60504 Advanced Diploma of Financial Services (Superannuation)......................................................... 308
Assessment Guidelines....................................................................................................................................313
Introduction......................................................................................................................................................313Assessment System Overview........................................................................................................................313Australian Quality Training Framework Assessment Requirements............................................................... 313Licensing/Registration Requirements..............................................................................................................314Requirements for Registered Training Organisations (RTOs)........................................................................ 314Requirements for Candidates..........................................................................................................................315Pathways.........................................................................................................................................................315
Designing Assessment Tools.......................................................................................................................... 318
Use of Assessment Tools................................................................................................................................318Using Prepared Assessment Tools................................................................................................................. 318Developing Assessment Tools........................................................................................................................ 318Conducting Assessment..................................................................................................................................319
Employability Skills in the Financial Services Training Package context...................................................320
Licensing/Registration Requirements..............................................................................................................320Requirements for Registered Training Organisations (RTOs)........................................................................ 320Requirements for Candidates..........................................................................................................................321Access and Equity...........................................................................................................................................322Futher Sources of Information.........................................................................................................................322General Resources......................................................................................................................................... 322Assessment Resources...................................................................................................................................323Assessment Tool Design and Conducting Assessment..................................................................................323Assessor Training............................................................................................................................................324Assessment System Design and Management...............................................................................................324
Competency Standards.................................................................................................................................... 325
What is competency? ..................................................................................................................................... 325Contextualisation of Units of Competency by RTOs ...................................................................................... 325Components of Units of Competency .............................................................................................................325
Competency Standards - Industry Contextualisation................................................................................... 329
Industry capability and sector units of competency.........................................................................................329
Appendices........................................................................................................................................................333
Appendices........................................................................................................................................................333
Glossary.......................................................................................................................................................... 333LEVELS CHART............................................................................................................................................. 333Mapping Chart - FNB99 Financial Services Training Package to Version 1 of FNS04 Financial ServicesTraining Package............................................................................................................................................ 358FNB99 to Version 1 of FNS04 Financial Services Training Package - Mapping of Competency Standards.. 365
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007Table of Contents
Volume 1 of 3 Page 5 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Preliminary Information
Important Note to Users
Training Packages are not static documents; they are amended periodically to reflect thelatest industry practices and are version controlled. It is essential that the latest version isalways used.
Check the version number before commencing training or assessment
This Training Package is Version 2 - check whether this is the latest version by going to theNational Training Information Service ( www.ntis.gov.au) and locating information about theTraining Package. Alternatively, contact Innovation and Business Industry Skills Council athttp://www.ibsa.org.au to confirm the latest version number.
Explanation of version number conventions
The primary release Training Package is Version 1. When changes are made to a TrainingPackage, sometimes the version number is changed and sometimes it is not, depending onthe extent of the change. When a Training Package is reviewed it is considered to be a newTraining Package for the purposes of version control, and is Version 1. Do not confuse theversion number with the Training Packages national code (which remains the same during itsperiod of endorsement).
Version modification history
The version details of this endorsed Training Package are in the table below. The latestinformation is at the top of the table.
Version Release Date Comments
2 21/09/2007 Employability Skills mandatory text included in the introduction,qualification guidelines and assessment guidelines.
Employability Skills explicitly expressed in 140 unitsnecessitating a change in the unit version identifier andqualification requirements. These changes have not altered theoutcomes of individual units of competency.
Changes to Insurance Services nomenclature.
Insurance Services specialisations identified in existingCertificate III in Financial Services:
• FNS30107 - Certificate III in Financial Services (InsuranceServices)
• Insurance Services specialisations identified in existingCertificate IV in Financial Services:
• FNS40107 - Certificate IV in Financial Services(Insurance Assessment Services)
• FNS40107 - Certificate IV in Financial Services(Insurance Services)
Insurance Services specialisations identified in existingDiploma of Financial Services:
• FNS50107 - Diploma of Financial Services (ASICAccreditation Financial Product Advice in Life Insurance)
• FNS50107 - Diploma of Financial Services (General
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007Preliminary Information
Volume 1 of 3 Page 6 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Version Release Date Comments
Distribution)• FNS50107 - Diploma of Financial Services (General
Insurance)• FNS50107 - Diploma of Financial Services (Insurance
Broking)• FNS50107 - Diploma of Financial Services (Insurance
Services)• FNS50107 - Diploma of Financial Services (Life
Distribution)• FNS50107 - Diploma of Financial Services (Loss
Adjusting)
New qualification in Bookkeeping
• FNS40207 - Certificate IV in Financial Services(Bookkeeping)
New qualifications in Workers Compensation:
• FNS30507 - Certificate III in Financial Services (WorkersCompensation)
• FNS41007 - Certificate IV in Financial Services (WorkersCompensation)
• FNS51407 - Diploma of Personal Injury Management(Workers Compensation)
Skill sets for Superannuation Trustees included to meet theneeds of people working within Corporate/large funds and SelfManaged Superannuation Fund trustees.
1 22/11/2004 Version 1 replaced the fully revised FNB99 Financial ServicesTraining Package
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007Preliminary Information
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Summary of AQF qualifications in this Training Package
Code Title
FNS10104 Certificate I in Financial Services
FNS20104 Certificate II in Financial Services
FNS30107 Certificate III in Financial Services
FNS30304 Certificate III in Financial Services (Accounts Clerical)
FNS30404 Certificate III in Financial Services (Mercantile Agents)
FNS30507 Certificate III in Financial Services (Workers Compensation)
FNS40107 Certificate IV in Financial Services
FNS40204 Certificate IV in Financial Services (Personal Trust Administration)
FNS40207 Certificate IV in Financial Services (Bookkeeping)
FNS40304 Certificate IV in Financial Services (Credit Management)
FNS40604 Certificate IV in Financial Services (Accounting)
FNS40704 Certificate IV in Financial Services (Financial Practice Support)
FNS40804 Certificate IV in Financial Services (Finance/Mortgage Broking)
FNS40904 Certificate IV in Financial Services (Superannuation)
FNS41007 Certificate IV in Financial Services (Workers Compensation)
FNS50107 Diploma of Financial Services
FNS50204 Diploma of Accounting
FNS50504 Diploma of Financial Services (Finance/Mortgage Broking Management)
FNS50604 Diploma of Financial Services (Conveyancing)
FNS50704 Diploma of Financial Services (Personal Trustees)
FNS50804 Diploma of Financial Services (Financial Planning)
FNS50904 Diploma of Financial Services (Superannuation)
FNS51004 Diploma of Financial Services (Financial Markets)
FNS51104 Diploma of Financial Risk Management
FNS51204 Diploma of Financial Services (Banking)
FNS51304 Diploma of Financial Services (Consumer Education)
FNS51407 Diploma of Personal Injury Management (Workers Compensation)
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007Preliminary Information
Volume 1 of 3 Page 8 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Code Title
FNS60104 Advanced Diploma of Financial Services
FNS60204 Advanced Diploma of Accounting
FNS60304 Advanced Diploma of Financial Services (Conveyancing)
FNS60404 Advanced Diploma of Financial Services (Financial Planning)
FNS60504 Advanced Diploma of Financial Services (Superannuation)
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007Preliminary Information
Volume 1 of 3 Page 9 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Units of competency in this Training Package and their prerequisites
Note – the prerequisite column is only displayed if prerequisites exist.
Code Title
FNSACCT401B Process business tax requirements
FNSACCT402B Produce job costing information
FNSACCT403B Prepare operational budgets
FNSACCT404B Make decisions in a legal context
FNSACCT405B Prepare financial statements
FNSACCT406B Maintain asset and inventory records
FNSACCT407B Set up and operate a computerised accounting system
FNSACCT501B Provide financial and business performance information
FNSACCT502B Prepare income tax returns
FNSACCT503B Manage budgets and forecasts
FNSACCT504B Prepare financial reports for a reporting entity
FNSACCT505B Establish and maintain accounting information systems
FNSACCT506B Implement and maintain internal control procedures
FNSACCT507B Provide management accounting information
FNSACCT601B Prepare complex tax returns and lodgements
FNSACCT602B Audit and report on financial systems and records
FNSACCT603B Implement tax plans and evaluate tax compliance
FNSACCT604B Monitor corporate governance activities
FNSACCT605B Implement organisational improvement programs
FNSACCT606B Conduct internal audit
FNSACCT607B Evaluate business performance
FNSACCT608B Evaluate organisation's financial performance
FNSACCT609B Evaluate financial risk
FNSACCT610B Develop and implement financial strategies
FNSACCT611B Implement an insolvency program
FNSACCT612B Implement reconstruction plan
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Code Title
FNSACCT613B Prepare and analyse management accounting information
FNSACCT614B Prepare complex corporate financial reports
FNSASIC301B Establish client relationship and analyse needs
FNSASIC302B Develop, present and negotiate client solutions
FNSASIC503SB Provide advice in Foreign Exchange
FNSASIC503TB Provide advice in Managed Investments
FNSASIC503UB Provide advice in Superannuation
FNSASIC503VB Provide advice in Derivatives
FNSASIC503WB Provide advice in Securities
FNSASIC503XB Provide advice in Life Insurance
FNSASIC503YB Provide advice in Insurance Broking
FNSASIC503ZB Provide advice in Financial Planning
FNSBANK401B Coordinate a small business customer portfolio
FNSBANK402B Align banking products with the needs of small businesscustomers
FNSBANK403B Provide services in a Rural Transaction Centre
FNSBANK501B Manage banking and service strategy for small businesscustomers
FNSBANK502B Manage services in a Rural Transaction Centre
FNSBANK503B Provide business advisory services within a financialservices context
FNSBKPG401A Develop and implement policies and practices relevant tobookkeeping activities
FNSBKPG402A Establish and maintain a cash accounting system
FNSBKPG403A Establish and maintain an accrual accounting system
FNSBKPG404A Carry out business activity and instalment activitystatement tasks
FNSBKPG405A Establish and maintain a payroll system
FNSCOMP401B Conduct individual work within a compliance framework
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Code Title
FNSCOMP402B Facilitate compliance with statutory, legislative andregulatory requirements via staff education
FNSCOMP501B Comply with financial services legislation, industry andprofessional codes of practice
FNSCOMP601B Interpret and manage statutory, legislative and regulatoryobligations for organisational compliance
FNSCOMP602B Develop and implement compliance systems
FNSCONV501B Take instructions in relation to a transaction
FNSCONV502B Prepare and/or analyse and execute documents
FNSCONV503B Establish, manage and administer trust accounts
FNSCONV504B Finalise conveyancing transactions
FNSCONV601B Obtain and analyse all information for the transaction
FNSCRDT301B Process applications for credit
FNSCRDT302B Assess applications for debt finance
FNSCRDT303B Monitor and control accounts
FNSCRDT401B Evaluate credit applications
FNSCRDT402B Settle application and arrangements for debt finance
FNSCRDT403B Determine and establish appropriate securities to minimiserisk
FNSCRDT404B Manage and recover errant debts
FNSCRDT501B Assess personal and corporate insolvency
FNSCRDT502B Sell debts
FNSDMGT501B Promote understanding of the role and effective use ofconsumer credit
FNSDMGT502B Assist clients to identify, address and monitor own financialsituation
FNSFBRK401B Prepare and present loan application to lender on behalf offinance or mortgage broking client
FNSFBRK402B Provide finance and/or mortgage broking services
FNSFBRK403B Present broking options to client
FNSFBRK404B Manage self in finance and/or mortgage broking industry
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Code Title
FNSFBRK501B Settle application and loan arrangements in thefinance/mortgage broking industry
FNSFBRK502B Identify and develop complex broking options for client
FNSFBRK503B Present broking options to client with complex needs
FNSFBRK504B Implement complex loan structures
FNSFLIT201B Develop and use a personal budget
FNSFLIT202B Develop and use a savings plan
FNSFLIT203B Develop understanding of debt and consumer credit
FNSFLIT204B Develop understanding of superannuation
FNSFLIT205B Develop understanding of the Australian financial systemand markets
FNSFLIT501B Assist customers to budget and manage own finances
FNSFLIT502B Facilitate customer awareness of the Australian financialsystem and markets
FNSFLIT503B Promote basic financial literacy skills
FNSFLIT504B Facilitate customer understanding of personal financialstatements
FNSFLIT505B Facilitate customer or employee understanding ofsuperannuation as an investment tool
FNSFMKT301B Complete transaction processing
FNSFMKT401B Reconcile financial transaction
FNSFMKT501B Analyse financial markets and information
FNSFMKT502B Analyse financial market products for client
FNSFMKT503B Advice clients on financial risk
FNSFMKT504B Complete settlement and confirmation processes
FNSFMKT601B Price financial transactions
FNSFMKT602B Trade financial products
FNSFMKT603B Implement and manage compliance with stockbrokingregulations and standards
FNSFPLN401B Extract and analyse information on specified financialstrategies and products to set guidelines
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Code Title
FNSFPLN402B Prepare financial plans to set strategies and guidelines
FNSFPLN403B Implement financial plan to predetermined guidelines
FNSFPLN501B Comply with financial planning practice ethical andoperational guidelines and regulations
FNSFPLN502B Conduct financial planning analysis and research
FNSFPLN503B Develop and prepare financial plan
FNSFPLN504B Implement financial plan
FNSFPLN505B Review financial plan and provide ongoing service
FNSFPLN506B Meet with client to determine client requirements andexpectations
FNSFPLN507B Provide financial planning advice
FNSFPLN508B Conduct complex financial planning research
FNSFPLN601B Provide technical and professional guidance
FNSFPLN602B Determine client requirements and expectations for clientswith complex needs
FNSFPLN603B Provide comprehensive monitoring and ongoing service
FNSFPLN604B Develop complex and/or innovative financial planningstrategies
FNSFPLN605B Present and negotiate complex and/or innovative financialplan to the client
FNSFPLN606B Implement complex and or innovative financial plan
FNSGINS401B Provide technical guidance
FNSGINS402B Inspect quality of work
FNSGINS403B Estimate jobs
FNSGINS404B Inspect damage and develop scope of work
FNSGINS405B Inspect vehicle systems/components and determinepreferred repair action
FNSGINS406B Inspect vehicle/property for saleable items and determinetheir value
FNSICACC301B Administer accounts payable
FNSICACC302B Administer financial accounts
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Code Title
FNSICACC303B Prepare, match and process receipts
FNSICACC304B Prepare and bank receipts
FNSICACC305B Process payment documentation
FNSICACC306B Process journal entries
FNSICACC307B Reconcile and monitor accounts receivable
FNSICACC401B Evaluate and authorise payment requests
FNSICADV301B Provide general advice on financial products and services
FNSICADV501B Provide appropriate services, advice and products toclients
FNSICADV502B Provide appropriate and timely information and advice toclients
FNSICCUS301B Respond to customer enquiries
FNSICCUS302B Process customer complaints
FNSICCUS303B Provide inbound telephone service
FNSICCUS304B Provide outbound telephone customer solutions
FNSICCUS305B Maintain customer database
FNSICCUS401B Deliver a professional service to customers
FNSICCUS402B Maintain customer relationship
FNSICCUS403B Coordinate, evaluate and improve customer service
FNSICCUS404B Implement a service support system
FNSICCUS501B Develop and nurture relationships with clients, otherprofessionals and third party referrers
FNSICCUS502B Monitor client requirements
FNSICCUS503B Review service performance
FNSICCUS504B Manage business customer relationships
FNSICCUS505B Manage premium customer relationships
FNSICCUS506B Determine client requirements and expectations
FNSICCUS507B Record and implement client instructions
FNSICCUS601B Establish, supervise and monitor key relationships
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Code Title
FNSICCUS602B Implement customer service strategy
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN303B Work with others
FNSICGEN304B Apply health and safety practices in the workplace
FNSICGEN305B Maintain daily financial/business records
FNSICGEN401B Participate in formal communication processes
FNSICGEN402B Participate in negotiations
FNSICGEN403B Collect, assess and use information
FNSICGEN404B Resolve disputes
FNSICGEN501B Produce research reports and make presentations
FNSICGEN502B Solve workplace problems
FNSICIND301B Work in the financial services industry
FNSICIND401B Apply principles of professional practice to work in thefinancial services industry
FNSICORG301B Administer fixed asset register
FNSICORG302B Prepare reports for management
FNSICORG401B Contribute to resource planning
FNSICORG402B Work with specialist and outsourced services
FNSICORG501B Develop a budget
FNSICORG502B Manage a budget
FNSICORG503B Develop an operational plan
FNSICORG504B Implement an operational plan
FNSICORG505B Manage staff performance to achieve strategic targets
FNSICORG506B Develop and monitor policy and procedures
FNSICORG507B Develop a resource plan
FNSICORG508B Manage a project
FNSICORG509B Maintain integrity of financial systems
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Code Title
FNSICORG510B Manage own professional development
FNSICORG511B Manage the staff training function
FNSICORG512B Act as a formal complaints officer
FNSICORG513B Implement quality systems within work area
FNSICORG514B Supervise work within a financial services context
FNSICORG515B Provide mentoring and coaching within the workplace
FNSICORG516B Prepare financial reports to meet statutory requirements
FNSICORG517B Prepare financial forecasts and projections
FNSICORG518B Implement business practices
FNSICORG519B Analyse and comment on management reports
FNSICORG601B Prepare strategic plans
FNSICORG602B Recruit, select and induct staff
FNSICORG603B Negotiate to achieve goals and manage disputes
FNSICORG604B Provide leadership and motivation in a workplace team
FNSICORG605B Draw up and execute employment contracts
FNSICORG606B Manage flow of information
FNSICORG607B Develop systems
FNSICORG608B Control a budget
FNSICORG609B Develop and manage financial systems
FNSICORG610B Manage infrastructure
FNSICORG611B Manage the selection and implementation of informationtechnology systems
FNSICORG612B Establish and prepare operational guidelines in a financialservices organisation
FNSICORG613B Establish outsourced services and monitor performance
FNSICPRO401B Develop and maintain in-depth knowledge of products andservices used by your organisation or sector
FNSICPRO402B Match financial products to customer needs
FNSICPRO403B Tailor a product/service to meet customer needs
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007Preliminary Information
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Code Title
FNSICPRO501B Allocate authorities and guidelines for distribution
FNSICPRO502B Conduct product research to support recommendations
FNSICPRO601B Develop a financial product
FNSICPRO602B Establish agreements with intermediaries for productdistribution
FNSICPRO603B Develop a business plan for a financial product
FNSICPRO604B Coordinate implementation of product/fund supportsystems
FNSICSAM301B Identify opportunities for cross selling products andservices
FNSICSAM401B Sell financial products and services
FNSICSAM402B Implement a sales plan
FNSICSAM403B Prospect for new clients
FNSICSAM501B Develop a sales plan
FNSICSAM502B Apply advanced selling techniques to selling of financialproducts and services
FNSICSAM503B Develop a marketing plan
FNSICSAM504B Implement, monitor and evaluate a marketing plan
FNSICSAM505B Assess market needs
FNSICSAM506B Monitor market opportunities
FNSICSAM601B Monitor performance in sales of financial products orservices
FNSICSAM602B Identify and evaluate marketing opportunities in thefinancial services industry
FNSINBK301B Implement insurance program for broking clients
FNSINBK302B Place broking client insurance with insurers
FNSINBK303B Confirm insurance cover with broking client
FNSINBK304B Provide a broking claims service to clients
FNSINBK501B Prepare a new business submission for a broking client
FNSINBK502B Monitor broking clients
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Code Title
FNSINBK503B Implement changes to broking client's insurance program
FNSINBK504B Identify and advise on significant risk changes to brokingclient insurances
FNSINBK505B Assess and negotiate complex risk portfolio for brokerclient at renewal
FNSINBK506B Review incidence of loss for broking clients
FNSINBK507B Meet compliance requirements relating to insurancebroking
FNSINBK508B Negotiate complex claims settlement for insurance brokingclient
FNSINBK601B Develop guidelines for broking services
FNSINBK602B Implement the broking service support system
FNSINBK603B Review insurance brokerage service performance
FNSINSV301B Evaluate risk for renewal business
FNSINSV302B Process alteration to insurance policy
FNSINSV303B Issue contract of insurance
FNSINSV304B Issue renewal advice
FNSINSV305B Issue cancellation advice
FNSINSV306B Receive and record/register a claim
FNSINSV307B Follow organisation procedures to process claim
FNSINSV308B Process facultative and treaty reinsurance claims
FNSINSV309B Settle claims
FNSINSV310B Process a claims payment
FNSINSV401B Evaluate risk for new business
FNSINSV402B Underwrite new business
FNSINSV403B Survey potential risk exposure
FNSINSV404B Underwrite renewal business
FNSINSV405B Analyse insurance claims
FNSINSV406B Use specialist terminology in insurance claims
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Code Title
FNSINSV501B Issue contracts of insurance covering non-routinesituations
FNSINSV502B Review operational performance of the portfolio
FNSINSV503B Undertake post loss risk management
FNSINSV504B Negotiate treaty reinsurance
FNSINSV505B Determine risk rating for investment and insuranceproducts
FNSINSV506B Investigate claims
FNSINSV507B Implement claim recovery procedures
FNSINSV508B Review claims settlement policies and procedures
FNSINSV509B Analyse financial, medical and psychological claimsassessments
FNSINSV510B Case manage claims rehabilitation
FNSINSV511B Manage non-routine, complex claims
FNSINSV512B Settle non-routine, complex claims
FNSINSV513B Work with legal teams to resolve complex claims
FNSINSV514B Provide decisions on legal liability and indemnity of a claim
FNSINSV515B Review and update claim reserves in portfolio
FNSINSV516B Evaluate and report on status of claims portfolio toidentified stakeholders
FNSLDIS501B Prepare a distribution plan
FNSLDIS502B Resource the distribution plan
FNSLDIS503B Establish services to provide advice
FNSLDIS504B Implement and manage the distribution plan
FNSLIFE301B Process and issue a life insurance policy
FNSLIFE302B Receive and process service requests
FNSLIFE303B Process policy payments and terminations
FNSLIFE401B Undertake life insurance risk assessment
FNSLIFE402B Settle policy payments and terminations
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Code Title
FNSLIFE501B Assess extraordinary risks
FNSLOSS501B Plan and implement loss investigation
FNSLOSS502B Evaluate collected information
FNSLOSS503B Report findings and provide guidance to involved parties
FNSLOSS504B Negotiate/effect settlement
FNSLOSS505B Provide ancillary services
FNSMERC301B Collect debts
FNSMERC302B Repossess property
FNSMERC303B Serve legal process
FNSMERC304B Locate subjects
FNSMERC401B Develop and document case recommendations
FNSMERC402B Initiate legal recovery of debts
FNSPERT301B Establish entitlements to an Intestate Estate
FNSPERT302B Administer a non-complex Estate
FNSPERT303B Administer a non-completed Trust
FNSPERT401B Apply principles of professional practice to work in thepersonal trustee industry
FNSPERT402B Administer an Intestate Estate
FNSPERT403B Prepare a Will
FNSPERT404B Administer a complex Estate
FNSPERT405B Administer a complex Trust
FNSPERT406B Establish Powers of Attorney or accept appointment underFinancial Administration Orders
FNSPERT407B Administer Powers of Attorney or Financial AdministrationOrders
FNSPERT501B Advise clients on Trust Structures
FNSPERT502B Advise clients in Estate Planning
FNSPERT503B Allocate, assess and supervise work within the personaltrustee sector
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Code Title
FNSPRAC501B Manage and maintain small/medium business operations
FNSPRAC601B Establish, supervise and monitor practice systems toconform with legislation and regulations
FNSPRAC602B Improve the practice
FNSPRAC603B Grow the practice
FNSPRAC701B Prepare, supervise and monitor application of practiceguidelines
FNSPRAC702B Establish or review marketing, client services and supplierrelationships
FNSPRAC703B Establish or review human resources, administration andinformation support
FNSRETA301B Provide customer service in a retail agency
FNSRETA302B Handle foreign currency transactions
FNSRETA303B Monitor and manage transactions
FNSRETA304B Administer debit card services
FNSRETA305B Process customer accounts
FNSRETA306B Process customer transactions
FNSRETA307B Maintain Automatic Teller Machine (ATM) services
FNSRETA308B Prepare statistical and ad hoc reports
FNSRETA309B Balance cash holdings
FNSRETA310B Maintain main bank account
FNSRETA401B Communicate new technologies to customers
FNSRETA402B Administer credit card services
FNSRETA403B Administer portfolios
FNSRETA404B Prepare government returns
FNSRETA501B Produce financial statements
FNSRISK501B Undertake risk identification
FNSRISK502B Assess risks
FNSRISK601B Develop and implement risk mitigation plan
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Code Title
FNSRISK602B Determine and manage risk exposure strategies
FNSSMSF401B Process Self Managed Superannuation contributions
FNSSMSF501B Invest Self Managed Superannuation Funds assets
FNSSMSF502B Manage changes to fund structure
FNSSMSF503B Manage administration activities of a superannuation fund
FNSSMSF504B Meet Self Managed Superannuation Funds compliancerequirements
FNSSMSF505B Support trustee in the selection and performancemonitoring of outsourced services
FNSSMSF601B Provide advice in Self Managed Superannuation Funds
FNSSMSF602B Apply taxation requirements when advising in SelfManaged Superannuation Funds
FNSSMSF603B Apply legislative and operational requirements to advisingin Self Managed Superannuation Funds
FNSSUPR301B Establish, maintain and process superannuation records
FNSSUPR302B Process superannuation contributions
FNSSUPR303B Process superannuation Eligible Termination Payment(ETP) benefits
FNSSUPR304B Implement trustee investment instructions
FNSSUPR305B Process superannuation fund payments
FNSSUPR306B Terminate superannuation plans
FNSSUPR401B Process complex superannuation benefit and/or insuranceclaim
FNSSUPR402B Assist in meeting superannuation compliance requirements
FNSSUPR403B Work within a defined benefit fund
FNSSUPR404B Administer retirement income streams
FNSSUPR405B Establish and customise complex employer accounts
FNSSUPR406B Implement fund review practices
FNSSUPR407B Establish and maintain fund or plan
FNSSUPR408B Assess complex superannuation benefit and/or insuranceclaims
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Code Title
FNSSUPR501B Supervise complaints procedures
FNSSUPR502B Supervise insurer liaison
FNSSUPR503B Develop client relationships with employers and establishsuperannuation systems
FNSSUPR504B Provide advanced customer service to superannuationclients
FNSSUPR505B Produce reports for superannuation
FNSSUPR506B Supervise and monitor operational guidelines in asuperannuation organisation
FNSSUPR507B Review compliance with regulatory and contractualrequirements
FNSSUPR508B Provide effective information to members
FNSSUPR601B Liaise with and support trustees
FNSSUPR602B Manage official complaints procedures and proceedings
FNSSUPR603B Integrate investment strategy with fund operations
FNSWCMP301A Process benefit payments
FNSWCMP302A Determine claim liability
FNSWCMP303A Work within the workers compensation industry sector
FNSWCMP304A Manage claims
FNSWCMP401B Plan and implement rehabilitation and return to workstrategies
FNSWCMP402B Represent workers compensation agent/insurer atconciliation and review hearings
FNSWCMP403B Educate clients on workers compensation issues
FNSWCMP404A Assist workers with job placement
FNSWCMP501A Manage workers compensation case loads
FNSWCMP502A Develop a return to work strategy
FNSWCMP503A Facilitate workplace assessment with stakeholders forworkers compensation cases
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Imported units of competency in this Training Package
Code Title Origin
BSALO501A Perform legal research and prepare reports to meetidentified needs
TBA
BSALPP502A Draft legally binding documents TBA
BSBADM308A Process payroll BSB01
BSBADM404A Develop and use complex spreadsheets BSB01
BSBADM408A Prepare financial reports BSB01
BSBCMN214A Create and use simple spreadsheets BSB01
BSBCMN308A Maintain financial records BSB01
BSBCMN406A Maintain business technology BSB01
BSBFLM409B Implement continuous improvement BSB01
BSBFLM510B Facilitate and capitalise on change and innovation BSB01
BSBSLS304A Secure prospect commitment BSB01
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007Preliminary Information
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Summary mapping of FNS04 Financial Services Training Package to previous Financial ServicesTraining Packages
Code Relates to Nature of Relationship
FNA98 FNB99 FNA98 superseded by FNB99
FNB99 FNS04 FNB99 superseded by FNS04
FNS04 Version 1 FNS04 Version 2 Employability Skills explicitly expressed in Version 2 - refer to mapping charts below
The chart on the following pages shows the correlation between qualifications and competency units previously contained in Version 1 ofFNS04 Financial Services Training Package and those contained in the current FNS04 Financial Services Training Package, Version 2,including previous unit codings and current unit codings.
Please note that the following pages provide a brief explanation of changes to units and should only be used as an indicative tool. It isimportant that organisations review existing material and resources to ensure that specific changes to units of competency have been notedand their delivery and assessment materials adapted where necessary.
FNS04 Financial Services Training Package -
Mapping of Qualifications
FNS04 Version 2Qualification Code
FNS04 Version 2Qualification Title
FNS04 Version 1Qualification Code
FNS04 Version 1Qualification Title
Comments in relation toprevious iteration of theTraining Package
FNS10104 Certificate I in FinancialServices
FNS10104 Certificate I in FinancialServices
No change.
FNS20104 Certificate II in FinancialServices
FNS20104 Certificate II in FinancialServices
No change.
FNS30107 Certificate III in FinancialServices
FNS30104 Certificate III in FinancialServices
This qualification now includesan option for learners toundertake a specialised
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outcome in InsuranceServices.
FNS30304 Certificate III in FinancialServices (Accounts Clerical)
FNS30304 Certificate III in FinancialServices (Accounts Clerical)
No change.
FNS30404 Certificate III in FinancialServices (Mercantile Agents)
FNS30404 Certificate III in FinancialServices (MercantileAgents)
No change.
FNS30507 Certificate III in FinancialServices (WorkersCompensation)
This is a new qualification.
FNS40107 Certificate IV in FinancialServices
FNS340104 Certificate IV in FinancialServices
This qualification now includesoptions for learners toundertake a specialisedoutcome in Insurance Servicesor Insurance AssessmentServices.
FNS40404 and FNS40504 arenow obsolete and have beenremoved.
FNS40207 Certificate IV in FinancialServices (Bookkeeping)
This is a new qualification.
FNS40204 Certificate IV in FinancialServices (Personal TrustAdministration)
FNS40204 Certificate IV in FinancialServices (Personal TrustAdministration)
No change.
FNS40304 Certificate IV in FinancialServices (CreditManagement)
FNS40304 Certificate IV in FinancialServices (CreditManagement)
No change.
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FNS40604 Certificate IV in FinancialServices (Accounting)
FNS40604 Certificate IV in FinancialServices (Accounting)
No change.
FNS40704 Certificate IV in FinancialServices (Financial PracticeSupport)
FNS40704 Certificate IV in FinancialServices (Financial PracticeSupport)
No change.
FNS40804 Certificate IV in FinancialServices (Finance/ MortgageBroking)
FNS40804 Certificate IV in FinancialServices (Finance/Mortgage Broking)
No change.
FNS40904 Certificate IV in FinancialServices (Superannuation)
FNS40904 Certificate IV in FinancialServices (Superannuation)
No change.
FNS41106 Certificate IV in FinancialServices (WorkersCompensation)
This is a new qualification.
FNS50107 Diploma of FinancialServices
FNS50104 Diploma of FinancialServices
This qualification now includesoptions for learners toundertake a specialisedoutcome in InsuranceServices, Loss Adjusting,Insurance Broking, LifeDistribution, GeneralDistribution, General Insuranceand ASIC AccreditationFinancial Product Advice inLife Insurance.
FNS50404 is now obsolete andwill be removed.
FNS50204 Diploma of Accounting FNS50204 Diploma of Accounting No change.
FNS50504 Diploma of Financial FNS50504 Diploma of Financial No change.
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Services (Finance/ MortgageBroking Management)
Services (Finance/Mortgage BrokingManagement)
FNS50604 Diploma of FinancialServices (Conveyancing)
FNS50604 Diploma of FinancialServices (Conveyancing)
No change.
FNS50704 Diploma of FinancialServices (Personal Trustees)
FNS50704 Diploma of FinancialServices (PersonalTrustees)
No change.
FNS50804 Diploma of FinancialServices (Financial Planning)
FNS50804 Diploma of FinancialServices (FinancialPlanning)
No change.
FNS50904 Diploma of FinancialServices (Superannuation)
FNS50904 Diploma of FinancialServices (Superannuation)
No change.
FNS51004 Diploma of FinancialServices (Financial Markets)
FNS51004 Diploma of FinancialServices (FinancialMarkets)
No change.
FNS51104 Diploma of Financial RiskManagement
FNS51104 Diploma of Financial RiskManagement
No change.
FNS51204 Diploma of FinancialServices (Banking)
FNS51204 Diploma of FinancialServices (Banking)
No change.
FNS51304 Diploma of FinancialServices (ConsumerEducation)
FNS51304 Diploma of FinancialServices (ConsumerEducation)
No change.
FNS51407 Diploma of Personal InjuryManagement (WorkersCompensation)
This is a new qualification.
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FNS60104 Advanced Diploma ofFinancial Services
FNS60104 Advanced Diploma ofFinancial Services
No change.
FNS60204 Advanced Diploma ofAccounting
FNS60204 Advanced Diploma ofAccounting
No change.
FNS60304 Advanced Diploma ofFinancial Services(Conveyancing)
FNS60304 Advanced Diploma ofFinancial Services(Conveyancing)
No change.
FNS60404 Advanced Diploma ofFinancial Services (FinancialPlanning)
FNS60404 Advanced Diploma ofFinancial Services(Financial Planning)
No change.
FNS60504 Advanced Diploma ofFinancial Services(Superannuation)
FNS60504 Advanced Diploma ofFinancial Services(Superannuation)
No change.
Skill Sets
Corporate Superannuation Fund Trustee Work New Skill Set
Self Managed Superannuation Fund Trustee Work New Skill Set
FNS04 Financial Services Training Package -
Mapping of Competency Standards
FNS04 Version 2 UnitCode
FNS04 Version 2 Unit Title FNS04 Version 1 UnitCode
FNS04 Version 1 Unit Title Comment in relation toprevious iteration of theTraining Package
Industry Capability - Generic
FNSICGEN301B Communicate in the FNSICGEN301A Communicate in the Employability Skills
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workplace workplace (ES) mandatorystatement inserted; KeyCompetenciesinformation removed.Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICGEN302B Use technology in theWorkplace
FNSICGEN302A Use technology in theworkplace
Employability Skills(ES) mandatorystatement inserted; KeyCompetenciesinformation removed.Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICGEN303B Work with others FNSICGEN303A Work with others Employability Skills(ES) mandatorystatement inserted; KeyCompetenciesinformation removed.Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICGEN304B Apply health and safetypractices in the workplace
FNSICGEN304A Apply health and safetypractices in the workplace
Employability Skills(ES) mandatory
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statement inserted; KeyCompetenciesinformation removed.ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges.
New Range Statementadded to include Codesof Practice. Unitreformatted into latesttemplate requirements.
The unit outcomeshave not changed.
FNSICGEN305B Maintain dailyfinancial/business records
FNSICGEN305A Maintain dailyfinancial/business records
Employability Skills(ES) mandatorystatement inserted; KeyCompetenciesinformation removed.Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICGEN401B Participate in formalcommunication processes
FNSICGEN401A Participate in formalcommunication processes
Employability Skills(ES) mandatorystatement inserted; KeyCompetenciesinformation removed.Code changed to
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reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICGEN402B Participate in negotiations FNSICGEN402A Participate in negotiations Employability Skills(ES) mandatorystatement inserted; KeyCompetenciesinformation removed.ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICGEN403B Collect, assess and useinformation
FNSICGEN403A Collect, assess and useinformation
Employability Skills(ES) mandatorystatement inserted; KeyCompetenciesinformation removed.Code changed toreflect mandatory ESchanges.
Required Skills andKnowledge enhanced;New Range Statementadded to includeLegislativeRequirements. Unitreformatted into latesttemplate requirements.
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The unit outcomeshave not changed.
FNSICGEN404B Resolve disputes FNSICGEN404A Resolve disputes Employability Skills(ES) mandatorystatement inserted; KeyCompetenciesinformation removed.ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICGEN501B Produce research reportsand make presentations
FNSICGEN501A Produce research reportsand make presentations
Employability Skills(ES) mandatorystatement inserted; KeyCompetenciesinformation removed.Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICGEN502A Solve workplace problems FNSICGEN502B Solve workplace problems Employability Skills(ES) mandatorystatement inserted; KeyCompetenciesinformation removed.ES enhanced inElement 3.1; ES
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enhanced in RequiredKnowledge & Skills.Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
Industry Capability - Industry Knowledge
FNSICIND301B Work in the financialservices industry
FNSICIND301A Work in the financialservices industry
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICIND401B Apply principles ofprofessional practice to workin the financial servicesindustry
FNSICIND401A Apply principles ofprofessional practice towork in the financialservices industry
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
Industry Capability - Organisational Skills
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FNSICORG301B Administer fixed assetregister
FNSICORG301A Administer fixed assetregister
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG302B Prepare reports formanagement
FNSICORG302A Prepare reports formanagement
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG401B FNSICORG401A FNSICORG401A Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed. ESenhanced in RequiredKnowledge & Skills.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG402B Work with specialist andoutsourced services
FNSICORG402A Work with specialist andoutsourced services
Employability Skills (ES)mandatory statement
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inserted; KeyCompetenciesinformation removed. ESenhanced in RequiredKnowledge & Skills.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG501B Develop a budget FNSICORG501A Develop a budget Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG502B Manage a budget FNSICORG502A Manage a budget Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG503B Develop an operationalplan
FNSICORG503A Develop an operational plan Employability Skills (ES)mandatory statementinserted; KeyCompetencies
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information removed. ESenhanced in RequiredKnowledge & Skills.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG504B Implement an operationalplan
FNSICORG504A Implement an operationalplan
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed. ESenhanced in RequiredKnowledge & Skills.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG505B Manage staffperformance to achievestrategic targets
FNSICORG505A Manage staff performance toachieve strategic targets
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed. ESenhanced in RequiredKnowledge & Skills.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG506B Develop and monitorpolicy and procedures
FNSICORG506A Develop and monitor policyand procedures
Employability Skills (ES)mandatory statement
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inserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG507B Develop a resource plan FNSICORG507A Develop a resource plan Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG508B Manage a project FNSICORG508A Manage a project Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed. ESenhanced in RequiredKnowledge & Skills.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG509B Maintain integrity offinancial systems
FNSICORG509A Maintain integrity of financialsystems
Employability Skills (ES)mandatory statementinserted; KeyCompetencies
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information removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG510B Manage own professionaldevelopment
FNSICORG510A Manage own professionaldevelopment
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG511B Manage the staff trainingfunction
FNSICORG511A Manage the staff trainingfunction
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed. ESenhanced in RequiredKnowledge & Skills.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG512B Act as formal complaintsofficer
FNSICORG512A Act as formal complaintsofficer
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflect
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mandatory ES changes.The unit outcomes havenot changed.
FNSICORG513B Implement qualitysystems within work area
FNSICORG513A Implement quality systemswithin work area
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG514B Supervise work within afinancial services context
FNSICORG514A Supervise work within afinancial services context
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG515B Provide mentoring andcoaching in theworkplace
FNSICORG515A Provide mentoring andcoaching in the workplace
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG516B Prepare financial reports FNSICORG516A Prepare financial reports to Employability Skills (ES)
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to meet statutoryrequirements
meet statutory requirements mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG517B Prepare financialforecasts and projections
FNSICORG517A Prepare financial forecastsand projections
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG518B Implement businesspractices
FNSICORG518A Implement businesspractices
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG519B Analyse and comment onmanagement reports
FNSICORG518A Analyse and comment onmanagement reports
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed. ES
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enhanced in RequiredKnowledge & Skills.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG601B Prepare strategic plans FNSICORG601A Prepare practice strategicplans
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG602B Recruit, select and inductstaff
FNSICORG602A Recruit, select and inductstaff
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed. ESenhanced in RequiredKnowledge & Skills.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG603B Negotiate to achievegoals and managedisputes
FNSICORG603A Negotiate to achieve goalsand manage disputes
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed. ES
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enhanced in RequiredKnowledge & Skills.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG604B Provide leadership andmotivation to in aworkplace team
FNSICORG604A Provide leadership andmotivation to in a workplaceteam
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG605B Draw up and executiveemployment contracts.
FNSICORG605A Draw up and executiveemployment contracts.
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed. ESenhanced in RequiredKnowledge & Skills.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG606B Manage flow ofinformation
FNSICORG606A Manage flow of information Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.
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Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG607B Develop systems FNSICORG607A Develop systems Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG608B Control a budget FNSICORG608A Control a budget Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG609B Develop and managefinancial systems
FNSICORG609A Develop and managefinancial systems
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
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FNSICORG610B Manage infrastructure FNSICORG610A Manage infrastructure Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG611B Manage the selection andimplementation ofinformation technologysystems
FNSICORG611A Manage the selection andimplementation ofinformation technologysystems
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG612B Establish and prepareoperational guidelines in afinancial servicesorganisation
FNSICORG612A Establish and prepareoperational guidelines in afinancial servicesorganisation
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICORG613B Establish outsourcedservices and monitorperformance
FNSICORG613A Establish outsourcedservices and monitorperformance
Employability Skills (ES)mandatory statementinserted; KeyCompetencies
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information removed. ESenhanced in RequiredKnowledge & Skills.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
Industry Capability - Customer Relationship
FNSICCUS301B Respond to customerenquiries
FNSICCUS301A Respond to customerenquiries
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICCUS302B Process customercomplaints
FNSICCUS302A Process customercomplaints
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICCUS303B Provide inbound telephoneservice
FNSICCUS303A Provide inboundtelephone service
Employability Skills (ES)mandatory statement
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inserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICCUS304B Provide outboundtelephone service
FNSICCUS304A Provide outboundtelephone service
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICCUS305B Maintain customerdatabase
FNSICCUS305A Maintain customerdatabase
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICCUS401B Deliver a professionalservice to customers
FNSICCUS401A Deliver a professionalservice to customers
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &
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Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICCUS402B Maintain customerrelationships
FNSICCUS402A Maintain customerrelationships
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICCUS403B Coordinate, evaluate andimprove customer service
FNSICCUS403A Coordinate, evaluate andimprove customer service
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICCUS404B Implement a servicesupport system
FNSICCUS404A Implement a servicesupport system
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ES
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changes. The unitoutcomes have notchanged.
FNSICCUS501B Develop and nurturerelationships with clients,other professionals andthird party referrers
FNSICCUS501A Develop and nurturerelationships with clients,other professionals andthird party referrers
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICCUS502B Monitor client requirements FNSICCUS502A Monitor clientrequirements
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICCUS503B Review serviceperformance
FNSICCUS503A Review serviceperformance
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inPerformance Criteria 1.1.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
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FNSICCUS504B Manage business customerrelationships
FNSICCUS504A Manage businesscustomer relationships
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICCUS505B Manage premium businesscustomer relationships
FNSICCUS505A Manage premiumbusiness customerrelationships
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICCUS506B Determine clientrequirements andexpectations
FNSICCUS506A Determine clientrequirements andexpectations
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICCUS507B Record and implementclient instructions
FNSICCUS507A Record and implementclient instructions
Employability Skills (ES)mandatory statement
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inserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICCUS601B Establish, manage andmonitor key relationships
FNSICCUS601A Establish, manage andmonitor key relationships
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICCUS602B Implement customerservice strategy
FNSICCUS602A Implement customerservice strategy
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
Industry Capability - Product Skills
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FNSICPRO401B Develop and maintainin-depth knowledge ofproducts and services usedby your organisation orsector
FNSICPRO401A Develop and maintainin-depth knowledge ofproducts and services usedby your organisation orsector
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICPRO402B Match financial products tocustomer needs
FNSICPRO402A Match financial products tocustomer needs
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICPRO403B Tailor a product/service tomeet customer needs
FNSICPRO403A Tailor a product/service tomeet customer needs
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICPRO501B Allocate authorities andguidelines for distribution
FNSICPRO501A Allocate authorities andguidelines for distribution
Employability Skills (ES)mandatory statementinserted; KeyCompetencies
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information removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICPRO502B Conduct product research tosupport recommendations
FNSICPRO502A Conduct product researchto supportrecommendations
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICPRO601B Develop a financial product FNSICPRO601A Develop a financial product Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICPRO602B Establish agreements withintermediaries for productdistribution
FNSICPRO602A Establish agreements withintermediaries for productdistribution
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes have
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not changed.
FNSICPRO603B Develop a business plan fora financial product
FNSICPRO603A Develop a business plan fora financial product
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICPRO604B Coordinate implementationof product/fund supportsystems
FNSICPRO604A Coordinate implementationof Product/Fund SupportSystems
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
Industry Capability - Sales and Marketing
FNSICSAM301B Identify opportunities forcross selling products andservices
FNSICSAM301A Identify opportunities forcross selling products andservices
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICSAM401B Sell financial products and FNSICSAM401A Sell financial products Employability Skills (ES)
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services and services mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICSAM402B Implement a sales plan FNSICSAM402A Implement a sales plan Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICSAM403B Prospecting for new clients FNSICSAM403A Prospecting for newclients
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICSAM501B Develop a sales plan FNSICSAM501A Develop a sales plan Employability Skills (ES)
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mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICSAM502B Apply advanced sellingtechniques to selling offinancial products andservices
FNSICSAM502A Apply advanced sellingtechniques to selling offinancial products andservices
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICSAM503B Develop a marketing plan FNSICSAM503A Develop a marketing plan Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
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FNSICSAM504B Implement, monitor andevaluate marketing plans
FNSICSAM504A Implement, monitor andevaluate marketing plans
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICSAM505B Assess market needs FNSICSAM505A Assess market needs Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICSAM506B Monitor marketopportunities
FNSICSAM506A Monitor marketopportunities
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
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FNSICSAM601B Monitor performance insales of financial productsor services
FNSICSAM601A Monitor performance insales of financial productsor services
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSICSAM602B Identify and evaluatemarketing opportunities inthe financial servicesindustry
FNSICSAM602A Identify and evaluatemarketing opportunities inthe financial servicesindustry
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inPerformance Criteria 1.1;ES enhanced in RequiredKnowledge & Skills. Codechanged to reflectmandatory ES changes.The unit outcomes havenot changed.
Industry Capability - Account Management
FNSICACC301B Administer accountspayable
FNSICACC301A Administer accountspayable
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.
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The unit outcomes havenot changed.
FNSICACC302B Administer financialaccounts
FNSICACC302A Administer financialaccounts
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICACC303B Prepare, match andprocess receipts
FNSICACC303A Prepare, match andprocess receipts
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICACC304B Prepare and bank receipts FNSICACC304A Prepare and bank receipts Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICACC305B Process paymentdocumentation
FNSICACC305A Process paymentdocumentation
Employability Skills (ES)mandatory statement
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inserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICACC306B Process journal entries FNSICACC306A Process journal entries Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICACC307B Reconcile and monitoraccounts receivable
FNSICACC307A Reconcile and monitoraccounts receivable
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICACC401B Evaluate and authorisepayment requests
FNSICACC401A Evaluate and authorisepayment requests
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflect
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mandatory ES changes.The unit outcomes havenot changed.
Industry Capability - Advice
FNSICADV301B Provide general advice onfinancial products andservices
FNSICADV301A Provide general advice onfinancial products andservices
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSASIC301B Establish client relationshipand analyse needs
FNSASIC301A Establish clientrelationship and analyseneeds
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed. ESenhanced in RequiredKnowledge & Skills.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSASIC302B Develop, present andnegotiate client solutions
FNSASIC302A Develop, present andnegotiate client solutions
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed. ESenhanced in Required
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Knowledge & Skills.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSASIC503SB Provide advice in ForeignExchange
FNSASIC503SA Provide advice in ForeignExchange
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSASIC503TB Provide advice in ManagedInvestments
FNSASIC503TA Provide advice inManaged Investments
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSASIC503UB Provide advice inSuperannuation
FNSASIC503UA Provide advice inSuperannuation
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes have
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not changed.
FNSASIC503VB Provide advice inDerivatives
FNSASIC503VA Provide advice inDerivatives
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSASIC503WB Provide advice in Securities FNSASIC503WA Provide advice inSecurities
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSASIC503XB Provide advice in LifeInsurance
FNSASIC503XA Provide advice in LifeInsurance
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSASIC503YB Provide advice in InsuranceBroking
FNSASIC503YA Provide advice inInsurance Broking
Employability Skills (ES)mandatory statementinserted; Key
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Competenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSASIC503ZB Provide advice in FinancialPlanning
FNSASIC503ZA Provide advice inFinancial Planning
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed. ESenhanced in RequiredKnowledge & Skills.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICADV501B Provide appropriateservices, advice andproducts to clients
FNSICADV501A Provide appropriateservices, advice andproducts to clients
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSICADV502B Provide appropriate andtimely information andadvice to clients
FNSICADV502A Provide appropriate andtimely information andadvice to clients
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.
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Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
Accounting Competency Standards
FNSACCT401B Process business taxrequirements
FNSACCT401A Process business taxrequirements
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSACCT402B Produce job costinginformation
FNSACCT402A Produce job costinginformation
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSACCT403B Prepare operational budgets FNSACCT403A Prepare operationalbudgets
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced in
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Required Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSACCT404B Make decisions in a legalcontext
FNSACCT404A Make decisions in a legalcontext
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inPerformance Criteria 3.1.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSACCT405B Prepare financial statements FNSACCT405A Prepare financialstatements
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges.
New Performance Criteriaadded at 2.4 to 2.6. NewRange Statement addedat end of section.
The unit outcomes havenot changed.
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FNSACCT406B Maintain asset and inventoryrecords
FNSACCT406A Maintain asset andinventory records
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges.
New Performance Criteriaadded at 3.2. PerformanceCriteria 5.2 removed.
The unit outcomes havenot changed.
FNSACCT407B Set up and operate acomputerised accountingsystem
FNSACCT407A Set up and operate acomputerised accountingsystem
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges.
The unit outcomes havenot changed.
FNSACCT501B Provide financial andbusiness performanceinformation
FNSACCT501A Provide financial andbusiness performanceinformation
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ES
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changes. The unitoutcomes have notchanged.
FNSACCT502B Prepare income tax returns FNSACCT502A Prepare income tax returns Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSACCT503B Manage budgets andforecasts
FNSACCT503A Manage budgets andforecasts
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSACCT504B Prepare financial reports fora reporting entity
FNSACCT504A Prepare financial reportsfor a reporting entity
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ES
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changes. The unitoutcomes have notchanged.
FNSACCT505B Establish and maintainaccounting informationsystems
FNSACCT505A Establish and maintainaccounting informationsystems
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSACCT506B Implement and maintaininternal control procedures
FNSACCT506A Implement and maintaininternal control procedures
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSACCT507B Provide managementaccounting information
FNSACCT507A Provide managementaccounting information
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ES
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changes. The unitoutcomes have notchanged.
FNSACCT601B Prepare complex tax returnsand lodgements
FNSACCT601A Prepare complex taxreturns and lodgements
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSACCT602B Audit and report on financialsystems and records
FNSACCT602A Audit and report onfinancial systems andrecords
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSACCT603B Implement tax plans andevaluate tax compliance
FNSACCT603A Implement tax plans andevaluate tax compliance
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &
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Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSACCT604B Monitor corporategovernance activities
FNSACCT604A Monitor corporategovernance activities
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSACCT605B Implement organisationalimprovement programs
FNSACCT605A Implement organisationalimprovement programs
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSACCT606B Conduct internal audit FNSACCT606A Conduct internal audit Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have not
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changed.
FNSACCT607B Evaluate businessperformance
FNSACCT607A Evaluate businessperformance
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSACCT608B Evaluate organisation'sfinancial performance
FNSACCT608A Evaluate organisation'sfinancial performance
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSACCT609B Evaluate financial risk FNSACCT609A Evaluate financial risk Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSACCT610B Develop and implement FNSACCT610A Develop and implement Employability Skills (ES)
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financial strategies financial strategies mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSACCT611B Implement an insolvencyprogram
FNSACCT611A Implement an solvencyprogram
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSACCT612B Implement reconstructionplan
FNSACCT612A Implement reconstructionplan
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSACCT613B Prepare and analysemanagement accountinginformation
FNSACCT613A Prepare and analysemanagement accountinginformation
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed
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to reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSACCT614B Prepare complex corporatefinancial reports
FNSACCT614A Prepare complex corporatefinancial reports
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
Bookkeeping Competency Standards
FNSBKPG401A Develop and implementpolicies and practices relevantto bookkeeping activities
Not Applicable Not Applicable This is a new unit ofcompetency.
FNSBKPG402A Establish and maintain a cashaccounting system
Not Applicable Not Applicable This is a new unit ofcompetency.
FNSBKPG403A Establish and maintain anaccrual accounting system
Not Applicable Not Applicable This is a new unit ofcompetency.
FNSBKPG404A Carry out business activity andinstalment activity statementtasks
Not Applicable Not Applicable This is a new unit ofcompetency.
FNSBKPG405A E stablish and maintain apayroll system
Not Applicable Not Applicable This is a new unit ofcompetency.
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Conveyancing Competency Standards
FNSCONV501B Take instructions in relationto a transaction
FNSCONV501A Take instructions inrelation to a transaction
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSCONV502B Prepare and/or analyse andexecute documents
FNSCONV502A Prepare and/or analyseand execute documents
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSCONV503B Establish, manage andadminister trust accounts
FNSCONV503A Establish, manage andadminister trust accounts
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
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FNSCONV504B Finalise conveyancingtransactions
FNSCONV504A Finalise conveyancingtransactions
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSCONV601B Obtain and analyse allinformation for thetransaction
FNSCONV601A Obtain and analyse allinformation for thetransaction
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
Credit/Lending Services Competency Standards
FNSCRDT301B Process applications forcredit
FNSCRDT301A Process applications forcredit
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSCRDT302B Assess applications for debtfinance
FNSCRDT302A Assess applications fordebt finance
Employability Skills (ES)mandatory statement
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inserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSCRDT303B Monitor and control accounts FNSCRDT303A Monitor and controlaccounts
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSCRDT401B Evaluate credit applications FNSCRDT401A Evaluate creditapplications
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSCRDT402B Settle application andarrangements for debtfinance
FNSCRDT402A Settle application andarrangements for debtfinance
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ES
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changes. The unitoutcomes have notchanged.
FNSCRDT403B Determine and establishappropriate securities tominimise risk
FNSCRDT403A Determine and establishappropriate securities tominimise risk
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSCRDT404B Manage and recover errantdebts
FNSCRDT404A Manage and recover errantdebts
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSCRDT501B Assess personal andcorporate insolvency
FNSCRDT501A Assess personal andcorporate insolvency
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have not
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changed.
FNSCRDT502B Sell debts FNSCRDT502A Sell debts Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills; ES enhanced inEvidence Guide. Codechanged to reflectmandatory ES changes.The unit outcomes have notchanged.
Debt Management Competency Standards
FNSDMGT501B Promote understanding ofthe role and effective use ofconsumer credit
FNSDMGT501A Promote understanding ofthe role and effective useof consumer credit
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSDMGT502B Assist clients to identify,address and monitor ownfinancial situation
FNSDMGT502A Assist clients to identify,address and monitor ownfinancial situation
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced in
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Required Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
Finance/Mortgage Broking Competency Standards
FNSFBRK401B Prepare and present loanapplication to lender onbehalf of finance or mortgagebroking client
FNSFBRK401A Prepare and present loanapplication to lender onbehalf of finance ormortgage broking client
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed. ESenhanced in RequiredKnowledge & Skills.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSFBRK402B Provide finance and/ormortgage broking services
FNSFBRK402A Provide finance and/ormortgage broking services
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSFBRK403B Present broking options toclient
FNSFBRK403A Present broking options toclient
Employability Skills (ES)mandatory statementinserted; Key
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Competenciesinformation removed. ESenhanced in RequiredKnowledge & Skills.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSFBRK404B Manage self in finance and/ormortgage broking industry
FNSFBRK404A Manage self in financeand/or mortgage brokingindustry
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSFBRK501B Settle application and loanarrangements in thefinance/mortgage brokingindustry
FNSFBRK501A Settle application and loanarrangements in thefinance/mortgage brokingindustry
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed. ESenhanced in RequiredKnowledge & Skills.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSFBRK502B Identify and develop complexbroking options for client
FNSFBRK502A Identify and developcomplex broking options forclient
Employability Skills (ES)mandatory statementinserted; Key
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Competenciesinformation removed. ESenhanced in RequiredKnowledge & Skills.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSFBRK503B Present broking options toclient with complex needs
FNSFBRK503A Present broking options toclient with complex needs
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed. ESenhanced in RequiredKnowledge & Skills.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSFBRK504B Implement complex loanstructures
FNSFBRK504A Implement complex loanstructures
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
Financial Literacy Competency Standards
FNSFLIT201B Develop and use a personal FNSFLIT201A Develop and use a personal Employability Skills (ES)
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budget budget mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inPerformance Criteria 1.3;ES enhanced in RequiredKnowledge & Skills. Codechanged to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSFLIT202B Develop and use a savingsplan
FNSFLIT202A Develop and use a savingsplan
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSFLIT203B Develop understanding ofdebt and consumer credit
FNSFLIT203A Develop understanding ofdebt and consumer credit
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have not
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changed.
FNSFLIT204B Develop understanding ofsuperannuation
FNSFLIT204A Develop understanding ofsuperannuation
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSFLIT205B Develop understanding of theAustralian financial systemand markets
FNSFLIT205A Develop understanding ofthe Australian financialsystem and markets
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSFLIT501B Assist customers to budgetand manage own finances
FNSFLIT501A Assist customers to budgetand manage own finances
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have not
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changed.
FNSFLIT502B Facilitate customer awarenessof the Australian financialsystem and markets
FNSFLIT502A Facilitate customerawareness of the Australianfinancial system andmarkets
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSFLIT503B Promote basic financialliteracy skills
FNSFLIT503A Promote basic financialliteracy skills
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSFLIT504B Facilitate customerunderstanding of personalfinancial statements
FNSFLIT504A Facilitate customerunderstanding of personalfinancial statements
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ES
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changes. The unitoutcomes have notchanged.
FNSFLIT505B Facilitate customer oremployee understanding ofsuperannuation as aninvestment tool
FNSFLIT505A Facilitate customer oremployee understanding ofsuperannuation as aninvestment tool
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
Financial Markets Competency Standards
FNSFMKT301B Complete transactionprocessing
FNSFMKT301A Complete transactionprocessing
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSFMKT401B Reconcile financialtransaction
FNSFMKT401A Reconcile financialtransaction
Employability Skills (ES)mandatory statementinserted; KeyCompetencies information
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removed. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSFMKT501B Analyse financial marketsand information
FNSFMKT501A Analyse financial marketsand information
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSFMKT502B Analyse financial marketproducts for client
FNSFMKT502A Analyse financial marketproducts for client
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSFMKT503B Advice clients on financialrisk
FNSFMKT503A Advice clients on financialrisk
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ES
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changes. The unitoutcomes have notchanged.
FNSFMKT504B Complete settlement andconfirmation processes
FNSFMKT504A Complete settlement andconfirmation processes
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSFMKT601B Price financial transactions FNSFMKT601A Price financial transactions Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSFMKT602B Trade financial products FNSFMKT602A Trade financial products Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSFMKT603B Implement and manage FNSFMKT603A Implement and manage Employability Skills (ES)
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compliance withstockbroking regulationsand standards
compliance withstockbroking regulationsand standards
mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
Financial Planning Competency Standards
FNSFPLN401B Extract and analyseinformation on specifiedfinancial strategies andproducts to set guidelines
FNSFPLN401A Extract and analyseinformation on specifiedfinancial strategies andproducts to set guidelines
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSFPLN402B Prepare financial plans to setstrategies and guidelines
FNSFPLN402A Prepare financial plans toset strategies andguidelines
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
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FNSFPLN403B Implement financial plan topredetermined guidelines
FNSFPLN403A Implement financial plan topredetermined guidelines
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSFPLN501B Comply with financialplanning practice ethical andoperational guidelines andregulations
FNSFPLN501A Comply with financialplanning practice ethicaland operational guidelinesand regulations
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSFPLN502B Conduct financial planninganalysis and research
FNSFPLN502A Conduct financial planninganalysis and research
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSFPLN503B Develop and preparefinancial plan
FNSFPLN503A Develop and preparefinancial plan
Employability Skills (ES)mandatory statementinserted; KeyCompetencies information
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removed. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSFPLN504B Implement financial plan FNSFPLN504A Implement financial plan Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSFPLN505B Review financial plan andprovide ongoing service
FNSFPLN505A Review financial plan andprovide ongoing service
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSFPLN506B Meet with client to determineclient requirements andexpectations
FNSFPLN506A Meet with client todetermine clientrequirements andexpectations
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have not
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changed.
FNSFPLN507B Provide financial planningadvice
FNSFPLN507A Provide financial planningadvice
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSFPLN508B Conduct complex financialplanning research
FNSFPLN508A Conduct complex financialplanning research
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSFPLN601B Provide technical andprofessional guidance
FNSFPLN601A Provide technical andprofessional guidance
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSFPLN602B Determine clientrequirements andexpectations for clients with
FNSFPLN602A Determine clientrequirements andexpectations for clients with
Employability Skills (ES)mandatory statementinserted; Key
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complex needs complex needs Competencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSFPLN603B Provide comprehensivemonitoring and ongoingservice
FNSFPLN603A Provide comprehensivemonitoring and ongoingservice
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSFPLN604B Develop complex and/orinnovative financial planningstrategies
FNSFPLN604A Develop complex and/orinnovative financial planningstrategies
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSFPLN605B Present and negotiatecomplex and/or innovativefinancial plan to the client
FNSFPLN605A Present and negotiatecomplex and/or innovativefinancial plan to the client
Employability Skills (ES)mandatory statementinserted; Key
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Competencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSFPLN606B Implement complex and orinnovative financial plan
FNSFPLN606A Implement complex and orinnovative financial plan
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
General Insurance Competency Standards
FNSGINS401B Provide technical guidance FNSGINS401A Provide technical guidance Employability Skills(ES) mandatorystatement inserted;Key Competenciesinformation removed.Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSGINS402B Inspect quality of work FNSGINS402A Inspect quality of work Employability Skills(ES) mandatorystatement inserted;Key Competencies
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information removed.Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSGINS403B Estimate jobs FNSGINS403A Estimate jobs Employability Skills(ES) mandatorystatement inserted;Key Competenciesinformation removed.Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSGINS404B Inspect damage and developscope of work
FNSGINS404A Inspect damage and developscope of work
Employability Skills(ES) mandatorystatement inserted;Key Competenciesinformation removed.ES enhanced inRequired Knowledge& Skills. Codechanged to reflectmandatory ESchanges. The unitoutcomes have notchanged.
FNSGINS405B Inspect vehiclesystems/components and
FNSGINS405A Inspect vehiclesystems/components and
Employability Skills(ES) mandatory
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determine preferred repairaction
determine preferred repairaction
statement inserted;Key Competenciesinformation removed.ES enhanced inRequired Knowledge& Skills. Codechanged to reflectmandatory ESchanges. The unitoutcomes have notchanged.
FNSGINS406B Inspect vehicle/property forsaleable items and determinetheir value
FNSGINS406A Inspect vehicle/property forsaleable items and determinetheir value
Employability Skills(ES) mandatorystatement inserted;Key Competenciesinformation removed.ES enhanced inRequired Knowledge& Skills. Codechanged to reflectmandatory ESchanges. The unitoutcomes have notchanged.
Insurance Broking Competency Standards
FNSINBK301B Implement insuranceprogram for broking clients
FNSINBK301A Implement insuranceprogram for broking clients
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ES
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changes. The unitoutcomes have notchanged.
FNSINBK302B Place broking clientinsurance with insurers
FNSINBK302A Place broking clientinsurance with insurers
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINBK303B Confirm insurance cover withbroking client
FNSINBK303A Confirm insurance coverwith broking client
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINBK304B Provide a broking claimsservice to clients
FNSINBK304A Provide a broking claimsservice to clients
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &
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Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINBK501B Prepare a new businesssubmission for a brokingclient
FNSINBK501A Prepare a new businesssubmission for a brokingclient
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINBK502B Monitor client requirements FNSINBK502A Monitor client requirements Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINBK503B Implement changes tobroking client's insuranceprogram
FNSINBK503A Implement changes tobroking client's insuranceprogram
Employability Skills (ES)mandatory statementinserted; KeyCompetencies information
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removed. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINBK504B Identify and advise onsignificant risk changes tobroking client insurances
FNSINBK504A Identify and advise onsignificant risk changes tobroking client insurances
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINBK505B Assess and negotiatecomplex risk portfolio forbroker client at renewal
FNSINBK505A Assess and negotiatecomplex risk portfolio forbroker client at renewal
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINBK506B Review incidence of loss forbroking clients
FNSINBK506A Review incidence of loss forbroking clients
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ES
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changes. The unitoutcomes have notchanged.
FNSINBK507B Meet compliancerequirements relating toinsurance broking
FNSINBK507A Meet compliancerequirements relating toinsurance broking
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINBK508B Negotiate complex claimssettlement for insurancebroking client
FNSINBK508A Negotiate complex claimssettlement for insurancebroking client
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhnanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINBK601B Develop guidelines forbroking services
FNSINBK601A Develop guidelines forbroking services
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ES
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changes. The unitoutcomes have notchanged.
FNSINBK602B Implement the brokingservice system
FNSINBK602A Implement the brokingservice system
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINBK603B Review insurance brokerageservice performance
FNSINBK603A Review insurancebrokerage serviceperformance
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
Life Distribution Competency Standards
FNSLDIS501B Prepare a distribution plan FNSLDIS501A Prepare a distribution plan Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ES
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changes. The unitoutcomes have notchanged.
FNSLDIS502B Resource the distribution plan FNSLDIS502A Resource distribution plan Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSLDIS503B Establish services to provideadvice
FNSLDIS503A Establish services toprovide advice
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSLDIS504B Implement and manage thedistribution plan
FNSLDIS504A Implement and manage thedistribution plan
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ES
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changes. The unitoutcomes have notchanged.
Life Insurance Competency Standards
FNSLIFE301B Process and issue a lifeinsurance policy
FNSLIFE301A Process and issue a lifeinsurance policy
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSLIFE302B Receive and process servicerequests
FNSLIFE302A Receive and processservice requests
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSLIFE303B Process policy payments andterminations
FNSLIFE303A Process policy paymentsand terminations
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ES
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changes. The unitoutcomes have notchanged.
FNSLIFE401B Undertake life insurance riskassessment
FNSLIFE401A Undertake life insurancerisk assessment
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSLIFE402B Settle policy payments andterminations
FNSLIFE402A Settle policy payments andterminations
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSLIFE501B Assess extraordinary risks FNSLIFE501A Assess extraordinary risks Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ES
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changes. The unitoutcomes have notchanged.
Loss Adjusting Competency Standards
FNSLOSS501B Plan and implement lossinvestigation
FNSLOSS501A Plan and implement lossinvestigation
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSLOSS502B Evaluate collected information FNSLOSS502A Evaluate collectedinformation
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSLOSS503B Report findings and provideguidance to involved parties
FNSLOSS503A Report findings and provideguidance to involved parties
Employability Skills (ES)mandatory statementinserted; KeyCompetencies information
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removed. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSLOSS504B Negotiate/effect settlement FNSLOSS504A Negotiate/effect settlement Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSLOSS505B Provide ancillary services FNSLOSS505A Provide ancillary services Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
Workers Compensation Competency Standards
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FNSWCMP301A Process benefit payments Not Applicable Not Applicable This is a new unit ofcompetency.
FNSWCMP302A Determine claim liability Not Applicable Not Applicable This is a new unit ofcompetency.
FNSWCMP303A Work within the workerscompensation industrysector
Not Applicable Not Applicable This is a new unit ofcompetency.
FNSWCMP304A Manage claims Not Applicable Not Applicable This is a new unit ofcompetency.
FNSWCMP401B Plan and implementrehabilitation and return towork strategies
FNSWCMP401A Plan and implementrehabilitation and return towork strategies
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSWCMP402B Represent workerscompensationagent/insurer at conciliationand review hearings
FNSWCMP402A Represent workerscompensationagent/insurer atconciliation and reviewhearings
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSWCMP403B Educate clients on workerscompensation issues
FNSWCMP403A Educate clients onworkers compensation
Employability Skills (ES)mandatory statement
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issues inserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSWCMP404A Assist injured workers withjob placement
Not Applicable Not Applicable This is a new unit ofcompetency.
FNSWCMP501A Manage workerscompensation case loads
Not Applicable Not Applicable This is a new unit ofcompetency.
FNSWCMP502A Develop a return to workstrategy
Not Applicable Not Applicable This is a new unit ofcompetency.
FNSWCMP503A Facilitate workplaceassessment withstakeholders for workerscompensation cases
Not Applicable Not Applicable This is a new unit ofcompetency.
Insurance Services Competency Standards
FNSINSV301B Evaluate risk for renewalbusiness
FNSINSV301A Evaluate risk for renewalbusiness
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
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FNSINSV302B Process alteration toinsurance policy
FNSINSV302A Process alteration toinsurance policy
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINSV303B Issue contract of insurance FNSINSV303A Issue contract of insurance Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINSV304B Issue renewal business FNSINSV304A Issue renewal business Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINSV305B Issue cancellation advice FNSINSV305A Issue cancellation advice Employability Skills (ES)mandatory statementinserted; KeyCompetencies information
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removed. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINSV306B Receive and record/ registerclaim
FNSINSV306A Receive and record/ registerclaim
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINSV307B Follow company proceduresto process claim
FNSINSV307A Follow company proceduresto process claim
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINSV308B Process facultative and treatyreinsurance claims
FNSINSV308A Process facultative andtreaty reinsurance claims
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ESchanges. The unitoutcomes have not
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changed.
FNSINSV309B Settle claims FNSINSV309A Settle claims Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINSV310B Process a claims payments FNSINSV310A Process a claims payments Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINSV401B Evaluate risk for newbusiness
FNSINSV401A Evaluate risk for newbusiness
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINSV402B Underwrite new business FNSINSV402A Underwrite new business Employability Skills (ES)
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mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINSV403B Survey potential riskexposure
FNSINSV403A Survey potential riskexposure
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINSV404B Underwrite renewal business FNSINSV404A Underwrite renewalbusiness
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINSV405B Analyse insurance claims FNSINSV405A Analyse insurance claims Employability Skills (ES)
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mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINSV406B Use specialist terminology ininsurance claims
FNSINSV406A Not Applicable Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINSV501B Issue contract of insurancecovering non-routinesituations
FNSINSV501A Issue contract of insurancein non-routine situations
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINSV502B Review operationalperformance of the portfolio
FNSINSV502A Review operationalperformance of portfolio
Employability Skills (ES)mandatory statementinserted; Key
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Competencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINSV503B Undertake post loss riskmanagement
FNSINSV503A Undertake post loss riskmanagement
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINSV504B Negotiate treaty reinsurance FNSINSV504A Negotiate treaty reinsurance Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINSV505B Determine risk rating for FNSINSV505A Determine risk rating for Employability Skills (ES)
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investment and insuranceproducts
investment and insuranceproducts
mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINSV506B Investigate claims FNSINSV506A Investigate claims Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINSV507B Implement claim recoveryprocedures
FNSINSV507A Implement claim recoveryprocedures
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINSV508B Review claims settlementpolicies and procedures
FNSINSV508A Review claims settlementpolicies and procedures
Employability Skills (ES)mandatory statementinserted; Key
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007Preliminary Information
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Competencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINSV509B Analyse financial, medicaland psychological claimsassessments
FNSINSV509A Analyse financial, medicaland psychological claimsassessments
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINSV510B Case manage claimsrehabilitation
FNSINSV510A Case manage claimsrehabilitation
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINSV511B Manage non-routine, complex FNSINSV511A Manage non-routine, Employability Skills (ES)
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claims complex claims mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINSV512B Settle non-routine, complexclaims
FNSINSV512A Settle non-routine, complexclaims
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINSV513B Work with legal teams toresolve complex claims
FNSINSV513A Work with legal teams toresolve complex claims
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINSV514B Provide decisions on legalliability and indemnity of aclaim
FNSINSV514A Provide decisions on legalliability and indemnity of aclaim
Employability Skills (ES)mandatory statementinserted; Key
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Competencies informationremoved. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINSV515B Review and update claimreserves in portfolio
FNSINSV515A Review and update claimreserves in portfolio
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSINSV516B Evaluate and report on statusof claims portfolio to identifiedstakeholders
FNSINSV516A Evaluate and report onstatus of claims portfolio toidentified stakeholders
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
Mercantile Agent Competency Standards
FNSMERC301B Collect debts FNSMERC301A Collect debts Employability Skills (ES)mandatory statementinserted; Key
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Competenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSMERC302B Repossess property FNSMERC302A Repossess property Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSMERC303B Serve legal process FNSMERC303A Serve legal process Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSMERC304B Locate subjects FNSMERC304A Locate subjects Employability Skills (ES)mandatory statementinserted; KeyCompetencies
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information removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSMERC401B Develop and document caserecommendations
FNSMERC401A Develop and document caserecommendations
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
FNSMERC402B Initiate legal recovery ofdebts
FNSMERC402A Initiate legal recovery ofdebts
Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.
Personal Trustees Competency Standards
FNSPERT301B Establish entitlements to anintestate estate
FNSPERT301A Establish entitlements to anintestate estate
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ES
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changes. The unitoutcomes have notchanged.
FNSPERT302B Administer a non-complexEstate
FNSPERT302A Administer a non-complexEstate
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSPERT303B Administer a non-complexTrust
FNSPERT303A Administer a non-complexTrust
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSPERT401B Apply principles ofprofessional practice to workin the personal trusteeindustry
FNSPERT401A Apply principles ofprofessional practice towork in the personal trusteeindustry
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSPERT402B Administer an intestate estate FNSPERT402A Administer an intestate Employability Skills (ES)
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estate mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSPERT403B Prepare a Will FNSPERT403A Prepare a Will Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSPERT404B Administer a complex Estate FNSPERT404A Administer a complexEstate
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSPERT405B Administer a complex Trust FNSPERT405A Administer a complex Trust Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced in
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Performance Criteria 2.7and 2.8. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSPERT406B Establish Powers of Attorneyor accept appointment underFinancial AdministrationOrders
FNSPERT406A Establish Powers ofAttorney or acceptappointment under FinancialAdministration Orders
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSPERT407B Administer Powers ofAttorney or FinancialAdministration Orders
FNSPERT407A Administer Powers ofAttorney or FinancialAdministration Orders
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSPERT501B Advise clients on truststructures
FNSPERT501A Advise clients on truststructures
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed to
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reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSPERT502B Advise clients in estateplanning
FNSPERT502A Advise clients in estateplanning
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSPERT503B Allocate, assess andsupervise work within thepersonal trustee sector
FNSPERT503A Allocate, assess andsupervise work within thepersonal trustee sector
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
Practice Management Competency Standards
FNSPRAC501B Manage and maintainsmall/medium businessoperations
FNSPRAC501A Manage and maintainsmall/medium businessoperations
Employability Skills (ES)mandatory statementinserted; Key
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Competencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSPRAC601B Establish, supervise andmonitor practice systems toconform with legislation andregulations
FNSPRAC601A Establish, supervise andmonitor practice systems toconform with legislation andregulations
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSPRAC602B Improve the practice FNSPRAC602A Improve the practice Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSPRAC603B Grow the practice FNSPRAC603A Grow the practice Employability Skills (ES)mandatory statementinserted; Key
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Competencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSPRAC701B Prepare, supervise andmonitor application ofpractice guidelines
FNSPRAC701A Prepare, supervise andmonitor application ofpractice guidelines
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSPRAC702B Establish or reviewmarketing, client servicesand supplier relationships
FNSPRAC702A Establish or reviewmarketing, client servicesand supplier relationships
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSPRAC703B Establish or review humanresources, administrationand information support
FNSPRAC703A Establish or review humanresources, administrationand information support
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed
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to reflect mandatory ESchanges. The unitoutcomes have notchanged.
Risk Management Competency Standards
FNSRISK501B Undertake risk identification FNSRISK501A Undertake risk identification Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSRISK502B Assess risks FNSRISK502A Assess risks Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSRISK601B Develop and implement riskmitigation plan
FNSRISK601A Develop and implement riskmitigation plan
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ESchanges. The unit
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outcomes have notchanged.
FNSRISK602B Determine and manage riskexposure strategies
FNSRISK602A Determine and manage riskexposure strategies
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
Compliance Competency Standards
FNSCOMP401B Conduct individual workwithin a complianceframework
FNSCOMP401A Conduct individual workwithin a complianceframework
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSCOMP402B Facilitate compliance withstatutory, legislative andregulatory requirements viastaff education
FNSCOMP402A Facilitate compliance withstatutory, legislative andregulatory requirementsvia staff education
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unit
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outcomes have notchanged.
FNSCOMP501B Comply with financialservices legislation, industryand professional codes ofpractice
FNSCOMP501A Comply with financialservices legislation,industry and professionalcodes of practice
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSCOMP601B Interpret and managestatutory, legislative andregulatory obligations fororganisational compliance
FNSCOMP601A Interpret and managestatutory, legislative andregulatory obligations fororganisational compliance
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSCOMP602B Develop and implementcompliance systems
FNSCOMP602A Develop and implementcompliance systems
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
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Retail Financial Services Competency Standards
FNSRETA301B Provide customer service ina retail agency
FNSRETA301A Provide customer service ina retail agency
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSRETA302B Handle foreign currencytransactions
FNSRETA302A Handle foreign currencytransactions
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSRETA303B Monitor and managetransactions
FNSRETA303A Monitor and managetransactions
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have not
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changed.
FNSRETA304B Administer debit cardservices
FNSRETA304A Administer debit cardservices
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSRETA305B Process customer accounts FNSRETA305A Process customer accounts Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSRETA306B Process customertransactions
FNSRETA306A Process customertransactions
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSRETA307B Maintain ATM services FNSRETA307A Maintain ATM services Employability Skills (ES)mandatory statementinserted; Key
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Competencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSRETA308B Prepare statistical and adhoc reports
FNSRETA308A Prepare statistical and adhoc reports
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSRETA309B Balance cash holdings FNSRETA309A Balance cash holdings Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSRETA310B Maintain main bank account FNSRETA310A Maintain main bankaccount
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed
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to reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSRETA401B Communicate newtechnologies to customers
FNSRETA401A Communicate newtechnologies to customers
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSRETA402B Administer credit cardservices
FNSRETA402A Administer credit cardservices
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSRETA403B Administer portfolios FNSRETA403A Administer portfolios Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unit
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outcomes have notchanged.
FNSRETA404B Prepare government returns FNSRETA404A Prepare governmentreturns
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSRETA501B Produce financial statements FNSRETA501A Produce financialstatements
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
Banking Competency Standards
FNSBANK401B Coordinate a small businesscustomer portfolio
FNSBANK401A Coordinate a smallbusiness customerportfolio
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
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FNSBANK402B Align banking products withthe needs of small businesscustomers
FNSBANK402A Align banking productswith the needs of smallbusiness customers
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSBANK403B Provide services in a RuralTransaction Centre
FNSBANK403A Provide services in aRural Transaction Centre
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSBANK501B Manage banking andservice strategy for smallbusiness customers
FNSBANK501A Manage banking andservice strategy for smallbusiness customers
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
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FNSBANK502B Manage services in a RuralTransaction Centre
FNSBANK502A Manage services in aRural Transaction Centre
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSBANK503B Provide business advisoryservices within a financialservices context
FNSBANK503A Provide business advisoryservices within a financialservices context
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
Self Managed Superannuation Funds Competency Standards
FNSSMSF401B Process Self ManagedSuperannuation contributions
FNSSMSF401A Process Self ManagedSuperannuationcontributions
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have not
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changed.
FNSSMSF501B Invest Self ManagedSuperannuation Fundsassets
FNSSMSF501A Invest Self ManagedSuperannuation Fundsassets
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSSMSF502B Manage changes to fundstructure
FNSSMSF502A Manage changes to fundstructure
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSSMSF503B Manage administrationactivities of a superannuationfund
FNSSMSF503A Manage administrationactivities of asuperannuation fund
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSSMSF504B Meet Self ManagedSuperannuation Fundscompliance requirements
FNSSMSF504A Meet Self ManagedSuperannuation Fundscompliance requirements
Employability Skills (ES)mandatory statementinserted; Key
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Competencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSSMSF505B Support trustee in theselection and performancemonitoring of outsourcedservices
FNSSMSF505A Support trustee in theselection and performancemonitoring of outsourcedservices
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSSMSF601B Provide advice in SelfManaged SuperannuationFunds
FNSSMSF601A Provide advice in SelfManaged SuperannuationFunds
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSSMSF602B Apply taxation requirementswhen advising in SelfManaged SuperannuationFunds
FNSSMSF602A Apply taxation requirementswhen advising in SelfManaged SuperannuationFunds
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unit
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outcomes have notchanged.
FNSSMSF603B Apply legislative andoperational requirements toadvising in Self ManagedSuperannuation Funds
FNSSMSF603A Apply legislative andoperational requirements toadvising in Self ManagedSuperannuation Funds
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
Superannuation Competency Standards
FNSSUPR301B Establish, maintain andprocess superannuationrecords
FNSSUPR301A Establish, maintain andprocess superannuationrecords
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSSUPR302B Process superannuationcontributions
FNSSUPR302A Process superannuationcontributions
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
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FNSSUPR303B Process superannuation ETPbenefits
FNSSUPR303A Process superannuationETP benefits
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSSUPR304B Implement trustee investmentinstructions
FNSSUPR304A Implement trusteeinvestment instructions
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSSUPR305B Process superannuation fundpayments
FNSSUPR305A Process superannuationfund payments
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSSUPR306B Terminate superannuationplans
FNSSUPR306A Terminate superannuationplans
Employability Skills (ES)mandatory statement
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inserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSSUPR401B Process complexsuperannuation benefitand/or insurance claim
FNSSUPR401A Process complexsuperannuation benefitand/or insurance claim
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSSUPR402B Assist in meetingsuperannuation compliancerequirements
FNSSUPR402A Assist in meetingsuperannuation compliancerequirements
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSSUPR403B Work within a defined benefitfund
FNSSUPR403A Work within a definedbenefit fund
Employability Skills (ES)mandatory statementinserted; KeyCompetencies information
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removed. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSSUPR404B Administer retirement incomestreams
FNSSUPR404A Administer retirementincome streams
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSSUPR405B Establish and customisecomplex employer accounts
FNSSUPR405A Establish and customisecomplex employer accounts
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSSUPR406B Implement fund reviewpractices
FNSSUPR406A Implement fund reviewpractices
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &
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Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSSUPR407B Establish and maintain fundor plan
FNSSUPR407A Establish and maintain fundor plan
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSSUPR408B Assess complexsuperannuation benefitand/or insurance claims
FNSSUPR408A Assess complexsuperannuation benefitand/or insurance claims
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSSUPR501B Supervise complaintsprocedures
FNSSUPR501A Supervise complaintsprocedures
Employability Skills (ES)mandatory statementinserted; KeyCompetencies information
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removed. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSSUPR502B Supervise insurer liaison FNSSUPR502A Supervise insurer liaison Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSSUPR503B Develop client relationshipswith employers and establishsuperannuation systems
FNSSUPR503A Develop client relationshipswith employers andestablish superannuationsystems
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSSUPR504B Provide advanced customerservice to superannuationclients
FNSSUPR504A Provide advanced customerservice for superannuationclients
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have not
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changed.
FNSSUPR505B Produce reports forsuperannuation
FNSSUPR505A Produce reports forsuperannuation
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSSUPR506B Supervise and monitoroperational guidelines in asuperannuation organisation
FNSSUPR506A Supervise and monitoroperational guidelines in asuperannuationorganization
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSSUPR507B Review compliance withregulatory and contractualrequirements
FNSSUPR507A Review compliance withregulatory and contractualrequirements
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSSUPR508B Provide effective information FNSSUPR508A Provide effective Employability Skills (ES)
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to members information to members mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSSUPR601B Liaise with and supporttrustees
FNSSUPR601A Liaise with and supporttrustees
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
FNSSUPR602B Manage official complaintsprocedures and proceedings
FNSSUPR602A Manage official complaintsprocedures andproceedings
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
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FNSSUPR603B Integrate investment strategywith fund operations
FNSSUPR603A Integrate investmentstrategy with fundoperations
Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.
Explanation of the review date
The review date (shown on the title page and in the header of each page) indicates when the Training Package is expected to be reviewed in the light ofchanges such as changing technologies and circumstances. The review date is not an expiry date. Endorsed Training Packages and their componentsremain current until they are reviewed or replaced.
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Overview
What is a Training Package?
A Training Package is an integrated set of nationally endorsed competency standards,assessment guidelines and Australian Qualifications Framework (AQF) qualifications for aspecific industry, industry sector or enterprise.
Each Training Package:
• provides a consistent and reliable set of components for training, recognising andassessing peoples skills, and may also have optional support materials
• enables nationally recognised qualifications to be awarded through direct assessment ofworkplace competencies
• encourages the development and delivery of flexible training which suits individual andindustry requirements
• encourages learning and assessment in a work-related environment which leads toverifiable workplace outcomes.
How do Training Packages fit within the National Training Framework?
The National Training Framework is made up of the nationally agreed quality arrangementsfor the vocational education and training sector, the Australian Quality Training Framework(AQTF), and Training Packages endorsed by the National Quality Council (NQC).
How are Training Packages developed?
Training Packages are developed by Industry Skills Councils or enterprises to meet theidentified training needs of specific industries or industry sectors. To gain nationalendorsement of Training Packages, developers must provide evidence of extensive research,consultation and support within the industry area or enterprise.
How do Training Packages encourage flexibility?
Training Packages describe the skills and knowledge needed to perform effectively in theworkplace without prescribing how people should be trained.
Training Packages acknowledge that people can achieve vocational competency in manyways by emphasising what the learner can do, not how or where they learned to do it. Forexample, some experienced workers might be able to demonstrate competency against theunits of competency, and even gain a qualification, without completing a formal trainingprogram.
With Training Packages, assessment and training may be conducted at the workplace,off-the-job, at a training organisation, during regular work, or through work experience, workplacement, work simulation or any combination of these.
Who can deliver and assess using Training Packages?
Training and assessment using Training Packages must be conducted by a RegisteredTraining Organisation (RTO) that has the qualifications or specific units of competency on itsscope of registration, or that works in partnership with another RTO as specified in the AQTFStandards for Registered Training Organisations.
Training Package Components
Training Packages are made up of mandatory components endorsed by the NQC, andoptional support materials.
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Training Package Endorsed Components
The nationally endorsed components include the Competency Standards, AssessmentGuidelines and Qualifications Framework. These form the basis of training and assessment inthe Training Package and, as such, they must be used.
Competency Standards
Each unit of competency identifies a discrete workplace requirement and includes theknowledge and skills that underpin competency as well as language, literacy and numeracy;and occupational health and safety requirements. The units of competency must be adheredto in training and assessment to ensure consistency of outcomes.
Assessment Guidelines
The Assessment Guidelines provide an industry framework to ensure all assessments meetindustry needs and nationally agreed standards as expressed in the Training Package andthe Standards for Registered Training Organisations. The Assessment Guidelines must befollowed to ensure the integrity of assessment leading to nationally recognised qualifications.
Qualifications Framework
Each Training Package provides details of those units of competency that must be achievedto award AQF qualifications. The rules around which units of competency can be combined tomake up a valid AQF qualification in the Training Package are referred to as the "packagingrules". The packaging rules must be followed to ensure the integrity of nationally recognisedqualifications issued.
Training Package Support Materials
The endorsed components of Training Packages are complemented and supported byoptional support materials that provide for choice in the design of training and assessment tomeet the needs of industry and learners.
Training Package support materials can relate to single or multiple units of competency, anindustry sector, a qualification or the whole Training Package. They tend to fall into one ormore of the categories illustrated below.
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Training Package support materials are produced by a range of stakeholders such as RTOs,individual trainers and assessors, private and commercial developers and Governmentagencies.
Where such materials have been quality assured through a process of 'noting' by the NQC,they display the following official logo. Noted support materials are listed on the NationalTraining Information Service (NTIS), together with a detailed description and information onthe type of product and its availability ( www.ntis.gov.au).
It is not compulsory to submit support materials for noting; any resources that meet therequirements of the Training Package can be used.
Training Package, Qualification and Unit of Competency Codes
There are agreed conventions for the national codes used for Training Packages and theircomponents. Always use the correct codes, exactly as they appear in the Training Package,and with the title always following the code.
Training Package Codes
Each Training Package has a unique five-character national code assigned when the TrainingPackage is endorsed, for example FNS04. The first three characters are letters identifying theTraining Package industry coverage and the last two characters are numbers identifying theyear of endorsement.
Qualification Codes
Within each Training Package, each qualification has a unique eight-character code, forexample FNS10104. The first three letters identify the Training Package; the first numberidentifies the qualification level (noting that arabic numbers are not used in qualification titlesthemselves); the next two numbers identify the position in the sequence of the qualification atthat level; and the last two numbers identify the year in which the qualification was endorsed.(Where qualifications are added after the initial Training Package endorsement, the last twonumbers may differ from other Training Package qualifications as they identify the year inwhich those particular qualifications were endorsed).
Unit of Competency Codes
Within each Training Package, each unit of competency has a unique code. The unit of
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competency codes are assigned when the Training Package is endorsed, or when new unitsof competency are added to an existing endorsed Training Package.
A typical code is made up of 12 characters, normally a mixture of uppercase letters andnumbers, as in FNSBKPG401A. The first three characters signify the Training Package (FNS04Financial Services Training Package in the above example) and up to eight characters,relating to an industry sector, function or skill area, follow. The last character is always a letterand identifies the unit of competency version. The A in the example above indicates that thisis the original unit of competency. An incremented version identifier usually means that minorchanges have been made. Typically this would mean that wording has changed in the rangestatement or evidence guide, providing clearer intent. Where changes are made that alter theoutcome, a new code is assigned and the title is changed.
Training Package, Qualification and Unit of Competency Titles
There are agreed conventions for titling Training Packages and their components. Always usethe correct titles, exactly as they appear in the Training Package, and with the code alwaysplaced before the title.
Training Package Titles
The title of each endorsed Training Package is unique and relates the Training Packagesbroad industry coverage.
Qualification Titles
The title of each endorsed Training Package qualification is unique. Qualification titles use thefollowing sequence:
• firstly, the qualification is identified as either Certificate I, Certificate II, Certificate III,Certificate IV, Diploma or Advanced Diploma
• this is followed by the words "in" for Certificates I to IV and "of" for Diploma andAdvanced Diploma
• then the industry descriptor follows, for example Telecommunications, and• if applicable, the occupational or functional stream follows in brackets, for example
(Computer Systems).
For example:
• FNS10104 Certificate I in Financial Services• FNS20104 Certificate II in Financial Services
Unit of Competency Titles
Each unit of competency title is unique. Unit of competency titles describe the competencyoutcome concisely, and are written in sentence case.
For example:
• FNSACCT401B Process business tax requirements• FNSACCT402B Produce job costing information
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Introduction to the FNS04 Financial Services Training Package
Overview
This Training Package is now the responsibility of Innovation and Business Skills Australia(IBSA). IBSA is the Industry Skills Council for the vocational and technical education,authorised and funded by the Australian Government to identify and help shape the skillsneeded by the workforce in the financial services industry. IBSA is responsible forcontinuously improving this financial services training product and the development of newareas according to new and emerging skills needs.
Innovation and Business Skills Australia can be contacted on (03) 9815 7000.
The FNS04 Financial Services Training Package Version 1 was developed by the NationalFinance Industry Training Advisory Body Limited. It built upon and superseded the previouslyendorsed FNB99 Financial Services Training Package which covered the sectors of RetailFinancial Services, Credit Management, Mercantile Agents, Personal Trustees, Accounting,Insurance (Life, Corporate Superannuation, Broking, Financial Services, Distribution, WorkersCompensation, Loss Adjusting, General Insurance), Conveyancing, Stock Broking, FinancialPlanning and ASIC Advice components.
The FNS04 Financial Services Training Package Version 2 includes the following continuousimprovement changes to units and qualifications, and new developments:
• new qualification in Bookkeeping• new qualifications in Workers Compensation• changes to the nomenclature of Insurance Services qualifications, which are now
included as industry specialisations in a root qualification• skill sets for corporate superannuation fund trustee work and self managed
superannuation fund trustee work• explicit expression of Employability Skills.
The financial services industry has traditionally been identified along clear sectoral lines, withbroad and non-descriptive industry classifications from a statistical sense, and unique productstreams from a consumer and industry ownership sense.
With increasing convergence and cross-selling of products across different industry classes,these sectoral lines have become quite blurred. Add to this a shift from traditional labourintensive sectorally specific processing functions to technology streamlined processes thatare now becoming more industry wide and sales oriented, with a shift to specialisationsacross functional lines and increasing professionalisation at higher levels.
In line with requests from industry and feedback received during extensive nationalconsultations, the Financial Services Training Package FNS04 reflects industry's need fortraining to be flexible and linked to functions within the financial services sector - this is also inline with regulatory imperatives that require a change from a sectoral and product centredfocus to a functional approach. The consultations undertaken identified common skills andknowledge across all sectors and competency standards have been developed accordingly.These common skill and knowledge competency standards are grouped together withinFNS04 under the heading "Industry Capabilities" and cover areas such as product skills, salesand marketing and customer relationship. A number of these "Industry Capability" units makeup the 'core' units required for the attainment of qualifications. Additionally, new sectors havebeen developed, gaps within existing sectors identified and filled and all units of competencyreviewed.
Specialisation of knowledge and skills are still a feature of the industry at more senior levels
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and this is reflected in a number of specialist qualifications that have been developed atCertificate IV, Diploma and Advanced Diploma levels of the Australian QualificationsFramework (AQF). The Financial Services Training Package continues to provide flexibility atAQF levels 4 to 6 by offering generic financial services qualifications. These genericqualifications should meet the needs of a large part of the workforce who are not specialistsand who need access to a broad range of skills and knowledge to cope with the rapidchanges and blurring of sectoral boundaries across the industry.
The FNS04 Financial Services Training Package identified thirty-three qualifications, anincrease of 7 qualifications from the superseded FNB99 Financial Services Training Package2 .
Version 2 of the FNS04 Financial Services Training Package signals a national move to focuson streamlining content; creating greater flexibility in qualification design and titling; reducingduplication and making Training Packages more accessible and user friendly. Much of thenew developments in 2006 and 2007 have been undertaken in this context. These include:
• specialisation developments in insurance services to address the need for recognition ofspecific skills for the different industry sectors
• identifying these new specialisations in qualifications by using the concept of a singleroot qualification followed by the specialised outcome in brackets
• using three current qualifications as root qualifications: FNS30107, FNS40107,FNS50107.
The development of root qualifications with specialisations, groups qualifications with similarstructures at the same level, while recognising specialised outcomes defined by the differentindustry sectors.
The packaging rules contained within the Qualifications Framework are simple and flexibleenough to allow freedom of choice but at the same time retain the integrity of thequalifications identified within the Training Package.
The entry-level credential at Certificate I, Certificate II and Certificate III would be suitablepathways for new Traineeships for the financial services industry. Certificate IV has also beenidentified as a good pathway for Traineeships, especially for graduate trainees.
The FNS04 Financial Services Training Package framework is a dynamic structure and hasbeen designed to accommodate future developments within the financial services sector andother related industries. As standards and qualification pathways for other sectors areidentified and developed, they can be integrated within this Training Package. Additionally,units of competency have been developed to allow for contextualisation to take account ofrelevant applications, such as e-business, where appropriate.
New Apprenticeship and Traineeship Pathways
The Certificate II, Certificate III and Certificate IV qualifications identified within the FinancialServices Training Package are specifically suited to New Apprenticeship and Traineeshippathways.
The Certificate I and Certificate II qualifications may be possible school-based programs.
Packaging of the competency standards within the Training Package tothe Australian Qualifications Framework (AQF)
The Qualifications Framework explains the rules for accessing qualifications in the FinancialServices Training Package. There are two types of qualifications described in this section:
• Generic qualifications
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• Specialist qualifications
Generic qualifications
The generic qualifications (qualifications in financial services) have the ability to include thewide range of competencies needed across the sectors covered by the Financial ServicesTraining Package. These qualifications are very flexible and can be structured to provide theoutcomes needed for a particular job or needed by a specific entity, anywhere in the industry.
Specialist qualifications
The specialist qualifications (qualifications in financial services [Specialist Area]) have beenagreed by specific industry sectors as the best combination of skills for that sector. They mayincorporate some choice of units or they may describe a predetermined pathway. If anindividual or organisation wishes to achieve a specialist qualification then the specifiedpathway must be followed.
In the future, where specialist qualifications have similar structures there will be theopportunity to create a single root qualification with one code and title, with flexibility in thepackaging that clearly identifies the industry specialisation.
ASIC Compliance
Organisations wishing to use the FNS04 Financial Services Training Package for ASICcompliance should ensure that the units chosen cover the knowledge and skills requirementsdescribed by ASIC for the appropriate educational level (Tier 1 or Tier 2). Two units havebeen developed specifically to satisfy the requirements for Tier 2 and these are availablewithin the Training Package at both Certificate III and Certificate IV level:
FNSASIC301B Establish client relationship and analyse needs
FNSASIC302B Develop, present and negotiate client solutions
Eight units have been developed specifically to satisfy the requirements for Tier 1, one unit foreach ASIC identified specialist knowledge area:
FNSASIC503ZB Provide advice in Financial Planning
FNSASIC503YB Provide advice in Insurance Broking
FNSASIC503XB Provide advice in Life Insurance
FNSASIC503WB Provide advice in Securities
FNSASIC503VB Provide advice in Derivatives
FNSASIC503UB Provide advice in Superannuation
FNSASIC503TB Provide advice in Managed Investments
FNSASIC503SB Provide advice in Foreign Exchange
All of these units have been written at Diploma level and represent the ASIC identified genericand specialist knowledge areas that are required to satisfy licensing obligations.
In packaging these units for qualifications it is important to note that any of theseFNSASIC503** units can only be counted once towards the issuance of a Diplomaqualification, although they may be assessed and issued as Statements of Attainments asoften as is required for industry compliance and participants' need.
In practice this means that should a participant achieve accreditation for say, FNSASIC503XBProvide advice in Life Insurance, any future accreditation (and Statements of Attainment) they
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receive for any other units in this FNSASIC503** stream cannot be counted towards aDiploma qualification.
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Qualifications Framework
The Australian Qualifications Framework
What is the Australian Qualifications Framework?
A brief overview of the Australian Qualifications Framework (AQF) follows. For a fullexplanation of the AQF see the AQF Implementation Handbook, 3rd Edition 2002. You candownload it from the Australian Qualifications Advisory Board (AQFAB) website (www.aqf.edu.au) or obtain a hard copy by contacting AQFAB on phone 03 9639 1606 or byemailing AQFAB on [email protected]
The AQF provides a comprehensive, nationally consistent framework for all qualifications inpost-compulsory education and training in Australia. In the vocational education and training(VET) sector it assists national consistency for all trainees, learners, employers and providersby enabling national recognition of qualifications and Statements of Attainment.
Training Package qualifications in the VET sector must comply with the titles and guidelines ofthe AQF. Endorsed Training Packages provide a unique title for each AQF qualification whichmust always be reproduced accurately.
Qualifications
Training Packages can incorporate the following eight AQF qualifications.
• Certificate I in ...• Certificate II in ...• Certificate III in ...• Certificate IV in ...• Diploma of ...• Advanced Diploma of ...• Vocational Graduate Certificate of ...• Vocational Graduate Diploma of ...
On completion of the requirements defined in the Training Package, a Registered TrainingOrganisation (RTO) may issue a nationally recognised AQF qualification. Issuance of AQFqualifications must comply with the advice provided in the AQF Implementation Handbookand the Australian Quality Training Framework Standards for Registered TrainingOrganisations, particularly Standard 10.
Statement of Attainment
Where an AQF qualification is partially achieved through the achievement of one or moreendorsed units of competency, an RTO may issue a Statement of Attainment. Issuance ofStatements of Attainment must comply with the advice provided in the AQF ImplementationHandbook and the Australian Quality Training Framework Standards for Registered TrainingOrganisations, particularly Standard 10.
Under the Standards for Registered Training Organisations, RTOs must recognise theachievement of competencies as recorded on a qualification or Statement of Attainmentissued by other RTOs. Given this, recognised competencies can progressively build towardsa full AQF qualification.
AQF Guidelines and Learning Outcomes
The AQF Implementation Handbook provides a comprehensive guideline for each AQFqualification. A summary of the learning outcome characteristics and their distinguishingfeatures for each VET related AQF qualification is provided below.
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Certificate I
Characteristics of Learning Outcomes
Breadth, depth and complexity of knowledge and skills would prepare a person to perform adefined range of activities most of which may be routine and predictable.
Applications may include a variety of employment related skills including preparatory accessand participation skills, broad-based induction skills and/or specific workplace skills. Theymay also include participation in a team or work group.
Distinguishing Features of Learning Outcomes
Do the competencies enable an individual with this qualification to:
• demonstrate knowledge by recall in a narrow range of areas;• demonstrate basic practical skills, such as the use of relevant tools;• perform a sequence of routine tasks given clear direction• receive and pass on messages/information.
Certificate II
Characteristics of Learning Outcomes
Breadth, depth and complexity of knowledge and skills would prepare a person to perform ina range of varied activities or knowledge application where there is a clearly defined range ofcontexts in which the choice of actions required is usually clear and there is limitedcomplexity in the range of operations to be applied.
Performance of a prescribed range of functions involving known routines and proceduresand some accountability for the quality of outcomes.
Applications may include some complex or non-routine activities involving individualresponsibility or autonomy and/or collaboration with others as part of a group or team.
Distinguishing Features of Learning Outcomes
Do the competencies enable an individual with this qualification to:
• demonstrate basic operational knowledge in a moderate range of areas;• apply a defined range of skills;• apply known solutions to a limited range of predictable problems;• perform a range of tasks where choice between a limited range of options is required;• assess and record information from varied sources;• take limited responsibility for own outputs in work and learning.
Certificate III
Characteristics of Learning Outcomes
Breadth, depth and complexity of knowledge and competencies would cover selecting,adapting and transferring skills and knowledge to new environments and providing technicaladvice and some leadership in resolution of specified problems. This would be appliedacross a range of roles in a variety of contexts with some complexity in the extent and choiceof options available.
Performance of a defined range of skilled operations, usually within a range of broaderrelated activities involving known routines, methods and procedures, where some discretionand judgement is required in the section of equipment, services or contingency measures
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and within known time constraints.
Applications may involve some responsibility for others. Participation in teams includinggroup or team co-ordination may be involved.
Distinguishing Features of Learning Outcomes
Do the competencies enable an individual with this qualification to:
• demonstrate some relevant theoretical knowledge• apply a range of well-developed skills• apply known solutions to a variety of predictable problems• perform processes that require a range of well-developed skills where some discretion
and judgement is required• interpret available information, using discretion and judgement• take responsibility for own outputs in work and learning• take limited responsibility for the output of others.
Certificate IV
Characteristics of Learning Outcomes
Breadth, depth and complexity of knowledge and competencies would cover a broad rangeof varied activities or application in a wider variety of contexts most of which are complex andnon-routine. Leadership and guidance are involved when organising activities of self andothers as well as contributing to technical solutions of a non-routine or contingency nature.
Performance of a broad range of skilled applications including the requirement to evaluateand analyse current practices, develop new criteria and procedures for performing currentpractices and provision of some leadership and guidance to others in the application andplanning of the skills. Applications involve responsibility for, and limited organisation of,others.
Distinguishing Features of Learning Outcomes
Do the competencies enable an individual with this qualification to:
• demonstrate understanding of a broad knowledge base incorporating some theoreticalconcepts
• apply solutions to a defined range of unpredictable problems• identify and apply skill and knowledge areas to a wide variety of contexts, with depth in
some areas• identify, analyse and evaluate information from a variety of sources• take responsibility for own outputs in relation to specified quality standards• take limited responsibility for the quantity and quality of the output of others.
Diploma
Characteristics of Learning Outcomes
Breadth, depth and complexity covering planning and initiation of alternative approaches toskills or knowledge applications across a broad range of technical and/or managementrequirements, evaluation and co-ordination.
The self directed application of knowledge and skills, with substantial depth in some areaswhere judgement is required in planning and selecting appropriate equipment, services andtechniques for self and others.
Applications involve participation in development of strategic initiatives as well as personal
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responsibility and autonomy in performing complex technical operations or organising others.It may include participation in teams including teams concerned with planning and evaluationfunctions. Group or team co-ordination may be involved.
The degree of emphasis on breadth as against depth of knowledge and skills may varybetween qualifications granted at this level.
Distinguishing Features of Learning Outcomes
Do the competencies or learning outcomes enable an individual with this qualification to:
• demonstrate understanding of a broad knowledge base incorporating theoreticalconcepts, with substantial depth in some areas
• analyse and plan approaches to technical problems or management requirements• transfer and apply theoretical concepts and/or technical or creative skills to a range of
situations• evaluate information, using it to forecast for planning or research purposes• take responsibility for own outputs in relation to broad quantity and quality parameters• take some responsibility for the achievement of group outcomes.
Advanced Diploma
Characteristics of Learning Outcomes
Breadth, depth and complexity involving analysis, design, planning, execution and evaluationacross a range of technical and/or management functions including development of newcriteria or applications or knowledge or procedures.
The application of a significant range of fundamental principles and complex techniquesacross a wide and often unpredictable variety of contexts in relation to either varied or highlyspecific functions. Contribution to the development of a broad plan, budget or strategy isinvolved and accountability and responsibility for self and others in achieving the outcomes isinvolved.
Applications involve significant judgement in planning, design, technical orleadership/guidance functions related to products, services, operations or procedures.
The degree of emphasis on breadth as against depth of knowledge and skills may varybetween qualifications granted at this level.
Distinguishing Features of Learning Outcomes
Do the competencies or learning outcomes enable an individual with this qualification to:
• demonstrate understanding of specialised knowledge with depth in some areas• analyse, diagnose, design and execute judgements across a broad range of technical
or management functions• generate ideas through the analysis of information and concepts at an abstract level• demonstrate a command of wide-ranging, highly specialised technical, creative or
conceptual skills• demonstrate accountability for personal outputs within broad parameters• demonstrate accountability for personal and group outcomes within broad parameters.
Vocational Graduate Certificate
Characteristics of competencies or learning outcomes
• The self-directed development and achievement of broad and specialised areas ofknowledge and skills, building on prior knowledge and skills.
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• Substantial breadth and complexity involving the initiation, analysis, design, planning,execution and evaluation of technical and management functions in highly varied andhighly specialised contexts.
• Applications involve making significant, high-level, independent judgements in majorbroad or planning, design, operational, technical and management functions in highlyvaried and specialised contexts. They may include responsibility and broad rangingaccountability for the structure, management and output of the work or functions ofothers.
• The degree of emphasis on breadth, as opposed to depth, of knowledge and skills mayvary between qualifications granted at this level.
Distinguishing features of learning outcomes
• Demonstrate the self-directed development and achievement of broad and specialisedareas of knowledge and skills, building on prior knowledge and skills.
• Initiate, analyse, design, plan, execute and evaluate major broad or technical andmanagement functions in highly varied and highly specialised contexts.
• Generate and evaluate ideas through the analysis of information and concepts at anabstract level.
• Demonstrate a command of wide-ranging, highly specialised technical, creative orconceptual skills in complex contexts.
• Demonstrate responsibility and broad-ranging accountability for the structure,management and output of the work or functions of others.
Vocational Graduate Diploma
Characteristics of competencies or learning outcomes
• The self-directed development and achievement of broad and specialised areas ofknowledge and skills, building on prior knowledge and skills.
• Substantial breadth, depth and complexity involving the initiation, analysis, design,planning, execution and evaluation of major functions, both broad and highlyspecialised, in highly varied and highly specialised contexts.
• Further specialisation within a systematic and coherent body of knowledge.• Applications involve making high-level, fully independent, complex judgements in broad
planning, design, operational, technical and management functions in highly varied andhighly specialised contexts. They may include full responsibility and accountability forall aspects of work and functions of others, including planning, budgeting and strategydevelopment.
• The degree of emphasis on breadth, as opposed to depth, of knowledge and skills mayvary between qualifications granted at this level.
Distinguishing features of learning outcomes
• Demonstrate the self-directed development and achievement of broad and highlyspecialised areas of knowledge and skills, building on prior knowledge and skills.
• Initiate, analyse, design, plan, execute and evaluate major functions, both broad andwithin highly varied and highly specialised contexts.
• Generate and evaluate complex ideas through the analysis of information and conceptsat an abstract level.
• Demonstrate an expert command of wide-ranging, highly specialised, technical,creative or conceptual skills in complex and highly specialised or varied contexts.
• Demonstrate full responsibility and accountability for personal outputs.• Demonstrate full responsibility and accountability for all aspects of the work or functions
of others, including planning, budgeting and strategy.
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New Qualifications in the Australian Qualifications Framework
Two new vocational education and training qualifications are now available: the VocationalGraduate Certificate and the Vocational Graduate Diploma.
The following information about these two qualifications has been sourced from the AustralianQualifications Framework publication: New Qualifications - Vocational Graduate Certificateand Vocational Graduate Diploma.
Contact the Australian Qualifications Framework website for further details (http://www.aqf.edu ).
Recommended FNS50904 Diploma of Financial Services (Superannuation)Pathway Options
All Diploma qualifications must comprise all core units. Elective pathways may be tailoredaccording to the needs of the individual or organisation. The pathway options recommendedbelow target the main industry areas of focus at this level and are intended as arecommendation only. Remaining elective units must be different from those alreadyrecommended.
SECTORAL CORE UNITS (4):
FNSCOMP602B Develop and implement compliance systems
FNSICORG513B Implement quality systems within work area
FNSICORG514B Supervise work within a financial services context
FNSSUPR501B Supervise complaints procedures
ELECTIVE UNITS (4 TO BE SELECTED):
Pathway option1:
Team leading
Pathway option2:
Fieldrepresentation
Pathway option3:
Businessdevelopment
Pathway option4:
Customer service
(ASIC compliantfor individualsworking within thesuperannuationindustry)
Pathway option5:
Specialisedservices
FNSICCUS501BDevelop andnurturerelationships withclients, otherprofessionals andthird partyreferrers
FNSICORG511BManage the stafftraining function
FNSICORG604B
FNSICSAM402BImplement asales plan
FNSICSAM504BImplement,monitor andevaluate amarketing plan
FNSSUPR504BProvideadvancedcustomer service
FNSICORG508BManage a project
FNSSUPR506BSupervise andmonitoroperationalguidelines in asuperannuationorganisation
BSBFLM409BImplementContinuous
FNSASIC503UB*Provide advice inSuperannuation
*Note this unit haspre-requisite unitsof competency.Refer to Summaryof Units ofCompetency andtheir Pre-requisiteRequirements
FNSSUPR504B
FNSICORG613BEstablishoutsourcedservices andmonitorperformance
FNSSUPR505BProduce reportsforsuperannuation
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Provideleadership andmotivation in aworkplace team
tosuperannuationclients
BSBSLS304ASecure prospectcommitment
Improvement Provide advancedcustomer serviceto superannuationclients
• remaining units to be selected from suggested elective units listed below or from otherareas of relevance in Financial Services
• see Levels Chart for full list of units available in the FNS04 Financial Services TrainingPackage.
SUGGESTED ELECTIVE UNITS
FNSASIC503UB Provide advice in Superannuation
FNSICCUS501B Develop and nurture relationships with clients, other professionals and thirdparty referrers
FNSICGEN501B Produce research reports and make presentations
FNSICORG507B Develop a resource plan
FNSICORG508B Manage a project
FNSICORG511B Manage the staff training function
FNSICORG512B Act as formal complaints officer
FNSICORG604B Provide leadership and motivation in a workplace team
FNSICORG613B Establish outsourced services and monitor performance
FNSICSAM402B Implement a sales plan
FNSICSAM504B Implement, monitor and evaluate a marketing plan
FNSSUPR403B Work within a defined benefit fund
FNSSUPR502B Supervise insurer liaison
FNSSUPR503B Develop client relationships with employers and establish superannuationsystems
FNSSUPR504B Provide advanced customer service to superannuation clients
FNSSUPR505B Produce reports for superannuation
FNSSUPR506B Supervise and monitor operational guidelines in a superannuationorganisation
BSBFLM409B Implement continuous improvement
BSBSLS304A Secure prospect commitment
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Skill Sets
Definition
Skill sets are defined as single units of competency, or combinations of units of competencyfrom an endorsed Training Package, which link to a licence or regulatory requirement, ordefined industry need.
Wording on Statements of Attainment
Skill sets are a way of publicly identifying logical groupings of units of competency which meetan identified need or industry outcome. Skill sets are not qualifications.
Where skill sets are identified in a Training Package, the Statement of Attainment can set outthe competencies a person has achieved in a way that is consistent and clear for employersand others. This is done by including the wording 'these competencies meet [the relevant skillset title or industry need is included]' on the Statement of Attainment. This wording appliesonly to skill sets that are formally identified as such in the endorsed Training Package.
All Statements of Attainment must include the wording 'A Statement of Attainment is issuedby a Registered Training Organisation when an individual has completed one or more units ofcompetency from a nationally recognised qualification'. The following may also be used 'thesecompetencies form part of the [the relevant qualification(s) code and title are inserted]'.
This section below provides information on skill sets within this Training Package, with thefollowing important disclaimer: Readers should ensure that they have also read the part ofthe Training Package that outlines licensing and regulatory requirements.
Skill Sets in this Training Package
Skill Sets
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This section provides information on skill sets within this Training Package, with the followingimportant disclaimer: readers should ensure that they have also read the section in theTraining Package that outlines licensing and regulatory requirements.
Two discreet clusters of competency standards have been identified as potential skill sets forthis industry sector:
• corporate superannuation fund trustee• self managed superannuation fund trustee.
Skill sets for corporate superannuation fund trustee work
The following units of competency have been identified as being relevant to superannuationtrustees working within corporate superannuation funds.
Target Group This skill set is for superannuation trustees working with corporatesuperannuation funds.
Units Administrative Units
FNSICORG613B Establish outsourced services and monitorperformance
FNSSUPR407B Establish and maintain fund or plan*
*The following 4 pre-requisite units of competency must also beachieved for this unit:
FNSICCUS302B Process customer complaints
FNSICGEN403B Collect, assess and use information
FNSICGEN501A Produce research reports and makepresentations
FNSSUPR301A Establish, maintain and process superannuationrecords
Compliance Unit
FNSSUPR507B Review compliance with regulatory andcontractual requirements
The pre-requisite unit of competency FNSSUPR407B Establishand maintain fund or plan must also be achieved for this unit.
Product Unit
FNSFMKT501B Analyse financial markets and information
Pathway These units of competency provide credit towards qualificationsthat allow for selection of these units, including a range of FinancialServices and Business Services qualifications.
Suggested wording forStatement ofAttainment
These units of competency from the FNS04 Financial ServicesTraining Package meet the superannuation industry requirementsfor trustees working with corporate superannuation funds.
Skill sets for self managed superannuation fund trustee work
The following units of competency have been identified as being relevant to self managedsuperannuation fund trustees.
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Target Group This skill set is relevant to trustees working with self managedsuperannuation funds.
Units Introductory Unit
FNSFLIT204B Develop understanding of superannuation
Compliance Unit
FNSSMSF504B Meet SMSF compliance requirements
Administrative Unit
FNSSUPR407B Establish and maintain fund or plan*
*The following 4 pre-requisite units of competency must also beachieved for this unit:
FNSICGEN403B Collect, assess and use information
FNSICGEN501A Produce research reports and make presentations
FNSICCUS302B Process customer complaints
FNSSUPR301A Establish, maintain and process superannuationrecords
Investment Related Unit
FNSICPRO502B Conduct product research to supportrecommendations
Risk Analysis Unit
BSBCMN416A Identify risk and apply risk management processes
Pathway These units of competency, except for FNSFLIT204B Developunderstanding of superannuation, provide credit towardsqualifications that allow for selection of these units, including arange of Financial Services and Business Services qualifications .
Suggested wordingfor Statement ofAttainment
These units of competency from the FNS04 Financial ServicesTraining Package meet the superannuation industry requirementsfor trustees working with self managed superannuation funds.
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Employability Skills
Employability Skills replacing Key Competency information from 2006
In May 2005, the approach to incorporate Employability Skills within Training Packagequalifications and units of competency was endorsed. As a result, from 2006 EmployabilitySkills will progressively replace Key Competency information in Training Packages.
Background to Employability Skills
Employability Skills are also sometimes referred to as generic skills, capabilities or KeyCompetencies. The Employability Skills discussed here build on the Mayer Committee's KeyCompetencies, which were developed in 1992 and attempted to describe genericcompetencies for effective participation in work.
The Business Council of Australia (BCA) and the Australian Chamber of Commerce andIndustry (ACCI), produced the Employability Skills for the Future report in 2002 in consultationwith other peak employer bodies and with funding provided by the Department of Education,Science and Training (DEST) and the Australian National Training Authority (ANTA). Officiallyreleased by Dr Nelson (Minister for Education, Science and Training) on 23 May 2002, copiesof the report are available from the DEST website at:http://www.dest.gov.au/archive/ty/publications/employability_skills/index.htm.
The report indicated that business and industry now require a broader range of skills than theMayer Key Competencies Framework and featured an Employability Skills Frameworkidentifying eight Employability Skills*:
• communication• teamwork• problem solving• initiative and enterprise• planning and organising• self-management• learning• technology.
The report demonstrated how Employability Skills can be further described for particularoccupational and industry contexts by sets of facets. The facets listed in the report are theaspects of the Employability Skills that the sample of employers surveyed identified as beingimportant work skills. These facets were seen by employers as being dependent both in theirnature and priority on an enterprise's business activity.
*Personal attributes that contribute to employability were also identified in the report but arenot part of the Employability Skills Framework.
Employability Skills Framework
The following table contains the Employability Skills facets identified in the reportEmployability Skills for the Future.
Skill Facets
Aspects of the skill that employers identify as important. Thenature and application of these facets will vary depending onindustry and job type.
Communication thatcontributes to productive
• listening and understanding• speaking clearly and directly
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and harmonious relationsacross employees andcustomers
• writing to the needs of the audience• negotiating responsively• reading independently• empathising• using numeracy effectively• understanding the needs of internal and external customers• persuading effectively• establishing and using networks• being assertive• sharing information• speaking and writing in languages other than English
Teamwork that contributesto productive workingrelationships andoutcomes
• working across different ages irrespective of gender, race,religion or political persuasion
• working as an individual and as a member of a team• knowing how to define a role as part of the team• applying teamwork to a range of situations e.g. futures
planning and crisis problem solving• identifying the strengths of team members• coaching and mentoring skills, including giving feedback
Problem solving thatcontributes to productiveoutcomes
• developing creative, innovative and practical solutions• showing independence and initiative in identifying and
solving problems• solving problems in teams• applying a range of strategies to problem solving• using mathematics, including budgeting and financial
management to solve problems• applying problem-solving strategies across a range of
areas• testing assumptions, taking into account the context of data
and circumstances• resolving customer concerns in relation to complex project
issues
Initiative and enterprisethat contribute toinnovative outcomes
• adapting to new situations• developing a strategic, creative and long-term vision• being creative• identifying opportunities not obvious to others• translating ideas into action• generating a range of options• initiating innovative solutions
Planning and organisingthat contribute to long andshort-term strategicplanning
• managing time and priorities - setting time lines,coordinating tasks for self and with others
• being resourceful• taking initiative and making decisions• adapting resource allocations to cope with contingencies• establishing clear project goals and deliverables• allocating people and other resources to tasks• planning the use of resources, including time management• participating in continuous improvement and planning
processes• developing a vision and a proactive plan to accompany it
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• predicting - weighing up risk, evaluating alternatives andapplying evaluation criteria
• collecting, analysing and organising information• understanding basic business systems and their
relationships
Self-management thatcontributes to employeesatisfaction and growth
• having a personal vision and goals• evaluating and monitoring own performance• having knowledge and confidence in own ideas and visions• articulating own ideas and visions• taking responsibility
Learning that contributesto ongoing improvementand expansion inemployee and companyoperations and outcomes
• managing own learning• contributing to the learning community at the workplace• using a range of mediums to learn - mentoring, peer
support and networking, IT and courses• applying learning to technical issues (e.g. learning about
products) and people issues (e.g. interpersonal and culturalaspects of work)
• having enthusiasm for ongoing learning• being willing to learn in any setting - on and off the job• being open to new ideas and techniques• being prepared to invest time and effort in learning new
skills• acknowledging the need to learn in order to accommodate
change
Technology thatcontributes to the effectivecarrying out of tasks
• having a range of basic IT skills• applying IT as a management tool• using IT to organise data• being willing to learn new IT skills• having the OHS knowledge to apply technology• having the appropriate physical capacity
Employability Skills Summary
An Employability Skills Summary exists for each qualification. Summaries provide a lensthrough which to view Employability Skills at the qualification level and capture the keyaspects or facets of the Employability Skills that are important to the job roles covered by thequalification. Summaries are designed to assist trainers and assessors to identify and includeimportant industry application of Employability Skills in learning and assessment strategies.
The following is important information for trainers and assessors about Employability SkillsSummaries.
• Employability Skills Summaries provide examples of how each skill is applicable to thejob roles covered by the qualification.
• Employability Skills Summaries contain general information about industry context whichis further explained as measurable outcomes of performance in the units of competencyin each qualification.
• The detail in each Employability Skills Summary will vary depending on the range of jobroles covered by the qualification in question.
• Employability Skills Summaries are not exhaustive lists of qualification requirements orchecklists of performance (which are separate assessment tools that should be
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designed by trainers and assessors after analysis at the unit level).• Employability Skills Summaries contain information that may also assist in building
learners' understanding of industry and workplace expectations.
Industry requirements for Employability Skills
In a comprehensive process from late 2005, IBSA mapped every unit of competency in theTraining Packages under IBSA coverage for Employability Skills. In this process, valuableinformation was gathered about how Employability Skills are applied across all IBSA TrainingPackages.
IBSA then identified Employability Skills facets that describe industry occupations covered byIBSA Training Packages, based on this mapping and the Employability Skills Frameworkdetailed in the report Employability Skills for the Future.
The resulting Generic Employability Skills Framework for IBSA Training Packages wasagreed by the Board as being appropriate for the diversity of industries under IBSA coverage.
The following table contains the Generic Employability Skills Framework for IBSA TrainingPackages.
Employability Skill Facets of the Employability Skill
Aspects of the skill that apply to IBSA Training Packages.
Communication • being appropriately assertive• clearly communicating workplace information to others (verbal
and non-verbal)• establishing and using appropriate networks (informal or formal)• interpreting needs of customers (internal or external)• listening to and understanding workplace information• negotiating effectively• reading and interpreting workplace related documentation• writing to audience needs
Teamwork • applying knowledge of own role as part of a team• applying teamwork skills to a range of workplace situations• identifying and utilising the strengths of other team members• receiving and giving feedback and, where in job role, providing
coaching and mentoring• working as an individual and a member of a team• working with diverse individuals and groups
Problem solving • applying a range of strategies in workplace problem solving• developing practical responses to workplace related functions• solving workplace issues and problems individually or in teams• taking action to resolve concerns• taking the workplace context into account in problem solving• using numeracy skills (e.g. working within budgets; developing
and managing budgets; taking measurements)
Initiative andenterprise
• adapting to new and emerging situations• being creative or proactive in response to workplace problems,
changes and challenges• developing a strategic, creative, long-term vision• developing innovative solutions to workplace challenges
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• generating a range of options in response to workplace matters• identifying workplace related opportunities• translating ideas into appropriate action
Planning andorganising
• allocating resources to workplace tasks and requirements• collecting, analysing and organising workplace data• identifying risk factors and taking action to minimise risk• participating in, or establishing improvement and planning
processes• planning for contingencies• using business systems for planning and organising• using or determining required resources• working within, or establishing, clear project goals and
outcomes
Self-management • applying the formal workplace vision and mission• being a role model and leader• being clear on own role in relation to workplace vision and
mission• following workplace documentation such as codes of practice or
operating procedures• having personal goals and vision• managing own time and priorities• maintaining personal hygiene (ohs)• monitoring and evaluating own performance• projecting a professional image when representing the
organisation• taking personal responsibility at the appropriate level
Learning • contributing to or developing learning plans (for self or others)• contributing to the learning of others• improving performance, product or skills through
experimentation, and practice or rehearsal• maintaining knowledge of products and services• participating in ongoing learning (formal or informal)• reflecting on own learning• seeking assistance and expert advice• seeking out and learning new ideas, skills and techniques
Technology • applying business related technology skills in organising andusing workplace information
• choosing, using and maintaining machinery and equipment• comparing and recommending or purchasing new business
technology• monitoring technological developments and responding
accordingly• using business related technology and equipment• using business related technology safely
IBSA has used the Generic Employability Skills Framework for IBSA Training Packages tofurther identify facets of Employability Skills that describe industry occupations for each IBSATraining Package qualification.
These facets were used to create an Employability Skills Summary for each qualification as
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an example of how facets would apply to one specific job role covered by the qualification.The text making up the Employability Skills Summary for each qualification was developeddirectly from the units of competency to ensure that the language and essence of the job rolewere appropriately reflected.
From the Employability Skills Summary, trainers and assessors can then work out how facetsof Employability Skills would apply to other job roles relevant to the particular qualificationthey are using. In this Training Package the Employability Skills Summary can be found at theend of each qualification.
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Qualifications
FNS10104 Certificate I in Financial ServicesThe Certificate I is a stand alone qualification and is designed to facilitate an understanding ofthe Australian financial services marketplace and personal financial situations. The purpose ofthis qualification is to meet the needs of identified gaps in nationwide financial literacy.Employment outcomes are limited and individuals are strongly advised that in order to meetthe entry-level requirements of this industry, the Certificate III in Financial Services should beundertaken.
To attain a Certificate I in Financial Services 5 units must be achieved:
• 5 industry core units.
INDUSTRY CORE UNITS
Achieve the following 5 core units:
FNSFLIT201B Develop and use a personal budget
FNSFLIT202B Develop and use a savings plan
FNSFLIT203B Develop understanding of debt and consumer credit
FNSFLIT204B Develop understanding of superannuation
FNSFLIT205B Develop understanding of the Australian financial system and markets
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Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Certificate I in Financial Services:
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • asking questions in order to understand financial concepts
• creating documents for personal budgets and savings plans• using active listening skills• using basic verbal and written skills
Teamwork • consulting others when developing personal financial plans• working with others to develop one's knowledge and
expertise in credit management and superannuation
Problem solving • analysing and comparing information from different sources• checking financial statements for accuracy• comparing and contrasting the performance of different
plans, funds and credit facilities• matching one's own needs with products on offer• tracking lost superannuation payments
Initiative and enterprise • creating a long term vision for one's financial future througha superannuation plan
• modifying personal budget and savings plan to changingcircumstances
Planning and organising • preparing a simple personal budget and savings plan• researching, collecting and analysing information from a
range of sources
Self management • demonstrating the skill to manage personal finances,personal credit rating, history and superannuation choice
Learning • learning new ideas, skills and techniques by developing abudget and a personal savings plan
• maintaining personal knowledge of financial products andservices
Technology • using calculators and computer software to prepare abudget and a savings plan
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS10104 Certificate I in Financial Services
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FNS20104 Certificate II in Financial ServicesThe Certificate II is a stand alone credential designed to facilitate entry to the industry anddevelop basic work skills. The purpose of this qualification is to meet the needs of remote andindigenous communities and new entrants wishing to build potential pathways into theFinancial Services industry. Employment outcomes are limited and individuals are stronglyadvised that in order to meet the entry-level requirements of this industry, the Certificate III inFinancial Services should be undertaken.
To attain a Certificate II in Financial Services 8 units must be achieved:
• 4 industry core units, plus• 4 elective units.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICIND301B Work in the financial services industry
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
ELECTIVE UNITS
Achieve 4 elective units. The 4 elective units may be selected as follows:
• all 4 elective units may be selected from the list below• all 4 elective units must be selected from the FNS04 Financial Services Training
Package units• of the 4 elective units, all 4 units may be selected from the list of units suitable at
Certificate II level or Certificate III level• the choice of electives should be appropriate to the level and integrity of the
qualification and to the workplace outcomes it is designed to meet• see Levels Chart for full list of units available in the FNS04 Financial Services Training
Package.
Financial Literacy Elective Units
FNSFLIT201B Develop and use a personal budget
FNSFLIT202B Develop and use a savings plan
FNSFLIT203B Develop understanding of debt and consumer credit
FNSFLIT204B Develop understanding of superannuation
FNSFLIT205B Develop understanding of the Australian financial system and markets
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS20104 Certificate II in Financial Services
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Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Certificate II in Financial Services:
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • having the ability to ask questions in order to prepare a
verbal or written response to customer enquiries• using active listening skills• using verbal and written skills to communicate effectively
with customers
Teamwork • consulting others when developing personal financial plans• working with diverse persons and groups• working with others to develop one's knowledge and
expertise in credit management
Problem solving • analysing and comparing information from different sources• comparing and contrasting the performance of different
plans, funds and credit facilities• researching information relevant to a customer enquiry
Initiative and enterprise • developing flexible approaches to personal skilldevelopment and goal setting
• identifying hazards in the workplace• participating in identifying improvements to workplace
processes
Planning and organising • following defined workplace processes and ensuring alldocumentation meets organisational policies andprocedures
• performing basic administration and organisational skills• recognising hazards in the workplace and applying risk
control measures
Self management • demonstrating the skill to operate within scope of authority,meet time lines and comply with Codes of Practice andother organisational requirements
Learning • applying knowledge of the industry to workplace activities• asking questions to clarify instructions• learning new ideas, skills and techniques by developing a
budget and a personal savings plan• using online help to resolve technical issues
Technology • using calculators and computer software programs to
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prepare workplace documentation• using the telephone and computer technology to
communicate effectively with customers• working safely with technology
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS20104 Certificate II in Financial Services
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FNS30107 Certificate III in Financial ServicesTo provide maximum flexibility for packaging qualifications and employability outcomes, theFNS30107 Certificate III in Financial Services has been identified as a root qualification thatincludes the existing general qualification and the existing specialised insurance servicesqualification.
The changes to the general qualification include a qualification code change and newversions of the industry core units to include Employability Skills. There will also be newversions of elective units as a result of the inclusion of Employability Skills.
FNS30107 Certificate III in Financial Services
To attain a FNS30107 Certificate III in Financial Services 13 units must be achieved:
• 4 industry core units, plus• 9 elective units.
Where the industry core units have been demonstrated as a requirement of FNS20104Certificate II in Financial Services exemption is provided.
This qualification is designed to reflect the role of entry level employees working across theentire financial services spectrum who perform duties such as:
• responding to customer enquiries• sales and service• maintaining financial records• performing clerical duties• applying fundamental skills in broking, distribution, banking, credit management and
retail financial services.
Prerequisite Requirements
Where industry core units have been demonstrated as a requirement of Certificate II inFinancial Services exemption is provided.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICIND301B Work in the financial services industry
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
ELECTIVE UNITS
Achieve 9 elective units. The 9 elective units may be selected as follows:
• all 9 elective units may be selected from the list of units in the Levels Chart for FNS04Certificate III qualifications
• of the 9 elective units, 3 units may be selected from the list of units shown in the Levelschart for FNS04 Certificate IV qualifications
• of the 9 elective units, up to 3 units may be selected from other currently endorsedTraining Packages in accordance with other packaging guidelines for this qualification
• if Tier 2 ASIC compliance is sought, the ASIC aligned units FNSASIC301B and
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FNSASIC302B must be selected• see Levels Chart for full list of units available in the FNS04 Financial Services Training
Package.
FNS30107 - Certificate III in Financial Services (INSURANCE SERVICES)
To attain a Certificate III in Insurance Services 13 units must be achieved:
• 4 industry core units, plus• 4 sectoral core units, plus• 5 elective units.
Where the industry core units have been demonstrated as a requirement of the FNS20104Certificate II in Financial Services exemption is provided.
This qualification is designed to reflect the role of entry-level employees working in theinsurance industry in service and support roles, including such duties as:
• determining coverage in accordance with insurance policy wording (if a claim)• obtaining relevant facts from a client regarding an insurance claim• registering insurance claim details in relevant databases and paying claims• providing underwriting information and answering inquiries from clients and from
insurance agents, consultants and other company personnel• reviewing individual and group applications for automobile, fire, health, liability, life,
property, marine, aircraft and other insurance• supporting underwriting processes to make acceptance of new and renewal
applications possible.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICIND301B Work in the financial services industry
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
SECTORAL CORE UNITS
Achieve a minimum of 4 of the following sectoral core units:
FNSINSV301B Evaluate risk for renewal business
FNSINSV302B Process alteration to insurance policy
FNSINSV303B Issue contract of insurance
FNSINSV304B Issue renewal advice
FNSINSV305B Issue cancellation advice
FNSINSV306B Receive and record/register a claim
FNSINSV307B Follow organisation procedures to process claim
FNSINSV308B Process facultative and treaty reinsurance claims
FNSINSV309B Settle claims
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FNSINSV310B Process a claims payment
FNSICGEN402B Participate in negotiations
ELECTIVE UNITS
Achieve at least 5 elective units. The elective units may be selected as follows:
• all 5 elective units may be selected from the list of units in the Levels Chart for FNS04Certificate III qualifications including the remaining sectoral core units listed above
• of the 5 elective units, up to 2 units may be selected from the list of units in the LevelsChart for FNS04 Certificate IV qualifications
• the remaining sectoral core units may be selected as elective units• of the 5 elective units, up to 2 units may be selected from other currently endorsed
Training Packages in accordance with other packaging guidelines for this qualification• the choice of electives should be appropriate to the level and integrity of the
qualification and to the workplace outcomes it is designed to meet• other insurance related qualifications within the FNS04 Financial Services Training
Package carry prerequisite requirements on a number of the sector core and electiveunits. It is recommended that these qualifications are investigated prior to selectingelectives to allow for future planning
• see Levels Chart for full list of units available in the FNS04 Financial Services TrainingPackage.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
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Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Certificate III in Financial Services:
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • conducting research to collect and analyse information and
present it in report form• having the ability to question, clarify and evaluate
information• investigating and negotiating to resolve disputes• liaising with internal and external personnel with an ability to
'read' verbal and non-verbal body language• using a range of techniques and sales skills to elicit
feedback from customers• using specialist language in written and oral communication• writing in a range of styles to suit different audiences
Teamwork • receiving feedback on performance• referring matters to nominated person as required• working as a member of a team and applying knowledge of
one's own role to achieve team goals
Problem solving • collecting, comparing and contrasting data in order to createreports
• investigating skills to provide information to assist with thedetermination of entitlements for persons where estates areto be finalised
• using problem solving tools and techniques to balance andreconcile amounts
Initiative and enterprise • contributing to solutions to workplace challenges• contributing to the design and preparation of reports to
effectively present workplace information• identifying cross selling opportunities
Planning and organising • contributing to the planning process by researching andvalidating information relating to estates
• planning work considering resources, time and otherconstraints
• processing routine documents and maintaining files,managing information, and scheduling and coordinatingcompeting tasks
• undertaking contingency planning and risk management tomeet client needs within area of responsibility
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Self management • managing own time and priorities and dealing withcontingencies
• operating within Codes of Ethics, Codes of ProfessionalConduct, legislation and regulations
• taking responsibility as required by work role and ensuringall organisational polices and procedures are followed
Learning • acquiring and applying knowledge of services andorganisational policies and procedures
• asking questions to clarify instructions• seeking advice on technical issues• using online help and manuals to solve basic technology
problems
Technology • using electronic communication devices and processessuch as internet, intranet, software packages and email, toproduce written correspondence and reports
• using technology to assist the management of informationand to assist the planning process
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
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FNS30304 Certificate III in Financial Services (Accounts Clerical)To attain a Certificate III in Financial Services (Accounts Clerical) 13 units must beachieved:
• 4 industry core units, plus• 5 sectoral core units, plus• 4 elective units.
Where the industry core units have been demonstrated as a requirement of the Certificate IIin Financial Services exemption is provided.
This qualification is designed to reflect the role of entry-level employees who perform routineduties such as:
• accounts payable/accounts receivable• payroll• cashier• preparation of trial balance• bookkeeping• EFT/e-business• purchases and sales• manual and computerised systems• preparation of financial reports.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICIND301B Work in the financial services industry
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
SECTORAL CORE UNITS
Achieve the following 5 sectoral core units:
FNSICACC304B Prepare and bank receipts
FNSICACC306B Process journal entries
FNSICGEN305B Maintain daily financial/business records
BSBCMN308A Maintain financial records
BSBADM408A Prepare financial reports
NOTE: The following units are prerequisites to the Diploma of Accounting:
FNSICACC304B, FNSICACC306B, FNSACCT407B, BSBCMN308B, BSBADM408B
ELECTIVE UNITS
Achieve at least 4 elective units. The 4 elective units may be selected as follows:
• all 4 elective units may be selected from the list of units suitable at Certificate III level• of the 4 elective units, 2 units may be selected from the list of units suitable at
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Certificate IV level• of the 4 elective units, 2 units may be selected from other endorsed Training Packages
units in accordance with other packaging guidelines for this qualification• the choice of electives should be appropriate to the level and integrity of the
qualification and to the workplace outcomes it is designed to meet• the units listed below are suggested as suitable electives• see Levels Chart for full list of units available in the FNS04 Financial Services Training
Package.
SUGGESTED ELECTIVE UNITS
FNSICACC302B Administer financial accounts
FNSICACC301B Administer accounts payable
FNSICACC303B Prepare, match and process receipts
FNSICACC305B Process payment documentation
FNSICACC307B Reconcile and monitor accounts receivable
FNSACCT407B Set up and operate a computerised accounting system
BSBADM308A Process payroll
BSBCMN214A Create and use simple spreadsheets
When selecting units from above please note that:
• BSBCMN308A is a prerequisite unit to FNSACCT407B• BSBCMN214A is the only Certificate II unit available for inclusion in this qualification.
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Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Certificate III in Financial Services (Accounts Clerical):
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • questioning, clarifying and evaluating information
• reading, interpreting and reviewing a range of financialreports
• using specialist language in written and oral communication• writing in a range of styles to suit different audiences
Teamwork • referring matters to nominated person as required• working as a member of a team and applying knowledge of
one's own role to achieve team goals• working with diverse persons and groups
Problem solving • checking reports for accuracy and correcting errors asrequired
• collecting, comparing and contrasting data in order to createreports
• using problem solving tools and techniques to solvereconciling problems
Initiative and enterprise • contributing to solutions to workplace challenges• designing reports to effectively present workplace
information
Planning and organising • establishing and operating a computerised financial system• maintaining accounts records for compliance purposes• preparing, processing and maintaining financial records
including payroll• recording, gathering and classifying information
Self management • managing own time and priorities and dealing withcontingencies
• operating within Codes of Ethics, Codes of ProfessionalConduct, legislation and regulations
• taking responsibility as required by work role and ensuringall organisational policies and procedures are followed
Learning • acquiring and applying knowledge of products, services andorganisational policies and procedures
• applying knowledge of the industry to workplace activities• learning new ideas, skills and techniques• seeking appropriate technical help with new computerised
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systems
Technology • using electronic communication devices and processes i.e.internet, intranet, organisational deposit facilities, softwarepackages and email to produce written correspondence andreports
• using technology to assist the management of informationand meet compliance requirements
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
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FNS30404 Certificate III in Financial Services (Mercantile Agents)To attain a Certificate III in Financial Services (Mercantile Agents) 13 units must beachieved:
• 4 industry core units, plus• 4 sectoral core units, plus• 5 elective units.
Where the industry core units have been demonstrated as a requirement of the Certificate IIin Financial Services exemption is provided.
There are three typical operational environments for mercantile agents. Each of these has aspecified pathway option for the Certificate III in Financial Services (Mercantile Agents).These options are outlined below and cover:
• collections• process serving• repossessions.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICIND301B Work in the financial services industry
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
SECTORAL CORE UNITS
Achieve the following 4 sectoral core units:
FNSMERC304B Locate subjects
FNSICORG302B Prepare reports for management
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
FNSICGEN404B Resolve disputes
Elective units
Achieve at least 5 elective units. The 5 elective units may be selected as follows:
• all 5 elective units may be selected from the list of units suitable at Certificate III level• of the 5 elective units, 2 units may be selected from the list of units suitable at
Certificate IV level• of the 5 elective units, up to 2 units may be selected from other endorsed Training
Packages in accordance with other packaging guidelines for this qualification• see Levels Chart for full list of units available in the FNS04 Financial Services Training
Package• individuals seeking a Commercial Agent Licence must undertake the relevant
compulsory units listed below, with other highly recommended elective units also being
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detailed below.
Collections - Compulsory
FNSMERC301B Collect debts
Collections - Highly recommended
FNSMERC303B Serve legal process
FNSMERC401B Develop and document case recommendations
FNSMERC402B Initiate legal recovery of debts
Process Serving - Compulsory
FNSMERC303B Serve legal process
Process Serving - Highly recommended
FNSMERC301B Collect debts
FNSMERC302B Repossess property
Repossessions - Compulsory
FNSMERC302B Repossess property
Repossessions - Highly recommended
FNSMERC301B Collect debts
FNSMERC303B Serve legal process
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Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Certificate III in Financial Services (Mercantile Agents):
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • developing and writing reports to specifications
• using effective high level written and oral skills to negotiateresolutions
• using persuasive techniques and sound telephonetechniques to achieve a satisfactory outcome for clients
Teamwork • building rapport and trust with clients and liaising andco-operating with a wide range of persons
• clarifying with others tasks to be completed• working with third party personnel to recover debts
Problem solving • applying investigative skills to collect information, conductsearches and locate defaulters
• determining appropriate cost effective recovery strategies• using modeling tools to test assumptions against a variety of
scenarios
Initiative and enterprise • designing appropriate format for reports• generating a range of options in response to a client's brief
and implementing agreed debt collection processes• initiating legal processes in line with client need and legal
requirements
Planning and organising • contributing to the planning process by researching,analysing and validating information relating to debts
• developing and maintaining systems, records and reportingprocedures
• maintaining files, managing information, and scheduling andcoordinating competing tasks
Self management • managing own time and priorities and dealing withcontingencies
• taking responsibility as required by work role and ensuringall organisational polices and procedures are followed
• taking personal responsibility for complying with legalobligations
• working within the legal, ethical and security considerationsof the job role
Learning • acquiring and applying knowledge of legislation and legal
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procedures• applying learning to develop improved practices• asking questions to clarify instructions• developing and maintaining professional competence• maintaining detailed field notes to reflect on approaches
taken in resolving disputes• using online help and manuals to solve basic technology
problems
Technology • using computer systems for research, store information andto generate reports
• using electronic communication devices and processes i.e.internet, intranet, email to produce written correspondenceand reports
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
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FNS30507 Certificate III in Financial Services (WorkersCompensation)To attain a Certificate III in Financial Services (Workers Compensation) 13 units mustbe achieved:
• 4 core units, plus• 3 sectoral core units (chosen from either claims or underwriting units), plus• 6 elective units.
This qualification is designed to reflect the role of entry level employees who apply a broadrange of competencies in a varied work context, using limited discretion and judgment, andrelevant theoretical knowledge and organisational guidelines. They may also:
• assist employers make workplaces safe and promote the health, safety and welfare ofworkers
• ensure workers receive prompt, proactive and effective treatment and management oftheir injuries
• improve Return to Work (RTW) outcomes.
Possible job titles relevant to this qualification include:
• workers compensation case claims clerk• workers compensation agent.
These people may perform duties such as:
• processing low risk claims• processing claims with a low life span• processing claims that have limited medical requirements• processing claims that may require periods off from work• processing claims that require monitoring and reviewing• delivering a service in accordance with industry best practice• collecting appropriate employer information for underwriting of policies• processing claims and policy data in accordance with relevant guidelines• processing claims and policy data using organisational and policy guidelines for risk• prioritising own work• working cooperatively with other team members• keeping accurate data records
Prerequisite Requirements
There are no prerequisite requirements for this qualification.
CORE UNITS
Achieve the following 4 core units:
BSBCMN310A Deliver and monitor a service to customers
BSBCMN402A Develop work priorities
FNSICGEN403B Collect, assess and use information
FNSWCMP303A Work within the workers compensation industry sector
SECTORAL CORE UNITS
Achieve 3 of the following sectoral core units (units may be selected from either one
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or both sectors as listed):
Claims units
FNSWCMP301A Process benefit payments
FNSWCMP302A Determine claim liability
FNSWCMP304A Manage claims
Underwriting units
FNSINSV301B Evaluate risk for renewal of business
FNSINSV302B Process alteration to insurance policy
FNSINSV303B Issue contract of insurance
FNSINSV304B Issues renewal business
FNSLIFE303B Process policy payments and terminations
ELECTIVE UNITS
Achieve 6 elective units. The 6 elective units may be selected as follows:
• all 6 elective units may be selected from the list of suitable units in the Levels Chart forFNS04 Certificate III qualifications and include the remaining sectoral core units shownabove
• of the 6 elective units, up to 3 units may be selected from the list of units in the Levelschart for FNS04 Certificate IV qualifications
• of the 6 elective units, up to 3 units may be selected from any other currently endorsedTraining Packages; a maximum of 1 unit at Certificate II and 2 units from Certificate IVcan be selected. Elective units should be based upon documented industry orenterprise needs
• see Levels Chart for full list of units available in the FNS04 Financial Services TrainingPackage.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
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Volume 1 of 3, Qualification 6 of 32 Page 192 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Certificate III in Financial Services (Workers Compensation):
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • conducting research to collect and analyse information and
presenting it in report form• having the ability to question, clarify and evaluate
information• possessing well developed presentation skills with an ability
to 'read' verbal and non verbal body language• preparing and presenting correspondence in appropriate
electronic format• using effective telephone techniques and having the ability
to negotiate solutions with clients and colleagues within areaof responsibility
• writing in a range of styles to suit different audiences
Teamwork • referring matters to nominated person as required• working as a member of a team and applying knowledge of
one's own role to achieve team goals• working with specialists for advice and on a referral basis
Problem solving • applying estimating skills in calculating liability and refunds• resolving customer complaints within area of responsibility• reading and understanding policy documents
Initiative and enterprise • contributing creative ideas to resolve workplace issues• referring non routine problems to a nominated person• responding to changing situations in the workplace
Planning and organising • contributing to the planning process by researching andvalidating information relating to claims
• processing routine documents and maintaining files,managing information and scheduling and coordinatingcompeting tasks
Self management • managing own time and priorities and dealing withcontingencies
• operating within Codes of Ethics, Codes of ProfessionalConduct, legislation and regulations
• taking responsibility as required by work role and ensuringall organisational polices and procedures are followed
Learning • acquiring and applying knowledge of products, services and
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organisational policies and procedures• asking questions to clarify instructions• seeking advice on technical issues• using online help and manuals to solve basic technology
problems
Technology • operating organisational business or records system• using business technology such as computers, and word
processing and document management software• using databases, record system and workflow packages
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
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FNS40107 Certificate IV in Financial ServicesTo provide maximum flexibility for packaging qualifications and employability outcomes, theFNS40107 Certificate IV in Financial Services has been identified as a root qualification thatincludes the existing general qualification, one new specialist qualification and two existingspecialist qualifications.
The specialist qualifications are in the following areas:
• bookkeeping• insurance assessment services• insurance services.
FNS40107 Certificate IV in Financial Services
To attain a FNS40107 Certificate IV in Financial Services 13 units must be achieved:
• 4 industry core units, plus• 9 elective units.
Where the industry core units have been demonstrated as a requirement of Certificate III inFinancial Services exemption is provided.
This qualification is designed to reflect the role of employees working in financial serviceswho perform duties such as:
• promoting customer/client service• administering financial operations and monitoring compliance• leading a team• performing duties of a first line supervisor• performing duties of a senior or technical officer
INDUSTRY CORE UNITS
The following units are also required for this qualification and are often assessed throughrecognition of competence or may have been achieved through the awarding of a lower levelqualification:
Achieve the following 4 industry core units:
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
ELECTIVE UNITS
Achieve at least 9 elective units. The elective units may be selected as follows:
• all 9 elective units may be selected from the list of suitable units at Certificate IV level• of the 9 elective units, 1 unit may be selected from the list of units suitable at Certificate
III level and up to 2 units may be selected from the list of units suitable at Diploma level• of the 9 elective units, up to 3 units may be selected from other endorsed Training
Packages in accordance with other packaging guidelines for this qualification• the choice of electives should be appropriate to the level and integrity of the
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qualification and to the workplace outcomes it is designed to meet• if Tier 2 ASIC compliance is sought, the ASIC aligned units FNSASIC301B and
FNSASIC302B must be selected. These two units are aligned to AQF levels III and IV• see Levels Chart for full list of units available in the FNS04 Financial Services Training
Package.
FNS40107 Certificate IV in Financial Services (Insurance Assessment Services)
To attain a FNS40107 Certificate IV in Financial Services (Insurance Assessment Services)13 units must be achieved:
• 4 industry core units, plus• 6 sectoral core units, plus• 3 elective units.
This qualification is designed to reflect the role of employees working across all parts of theinsurance industry who perform such duties as:
• inspecting and assessing losses and establishing quantum• reporting findings and making cost effective settlements• liaising with interested parties• assessing and negotiating complex losses and making recommendations to interested
parties• applying risk management guidelines
Prerequisite Requirements
Where the industry core units have been demonstrated as a requirement of Certificate III inFinancial Services exemption is provided
INDUSTRY CORE UNITS
The following units are also required for this qualification, but are often assessed throughrecognition of competence or may have been achieved through the awarding of a lower levelqualification:
Achieve the following 4 industry core units:
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
SECTORAL CORE UNITS
Achieve 6 sectoral core units made up as follows:
Achieve 2 of the following sectoral core units:
FNSINSV309B Settle claims
FNSICGEN402B Participate in negotiations
FNSICGEN404B Resolve disputes
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Achieve 4 of the following sectoral core units:
FNSLOSS501B Plan and implement loss investigation
FNSLOSS502B Evaluate collected information
FNSLOSS503B Report findings and provide guidance to involved parties
FNSGINS401B Provide technical guidance
FNSGINS402B Inspect quality of work
FNSGINS403B Estimate jobs
FNSGINS404B Inspect damage and develop scope of work
FNSGINS405B Inspect vehicle systems/components and determine preferred repair action
FNSGINS406B Inspect vehicle/property for saleable items and determine their value
FNSICPRO401B Develop and maintain in-depth knowledge of products and services usedby your organisation or sector
NOTE: When selecting units from above please note that:
FNSLOSS501B is a prerequisite unit to FNSLOSS502B
FNSLOSS502B is a prerequisite unit to FNSLOSS503B
ELECTIVE UNITS
Achieve at least 3 elective units. The 3 elective units may be selected as follows:
• all 3 elective units may be selected from the list of units suitable at Certificate IV level• of the 3 elective units, up to 2 units may be selected from the list of units suitable at
Diploma level• of the 3 elective units, up to 2 units may be selected from other endorsed Training
Packages in accordance with other packaging guidelines for this qualification• the choice of electives should be appropriate to the level and integrity of the
qualification and to the workplace outcomes it is designed to meet• other insurance related qualifications within the FNS04 Financial Services Training
Package carry prerequisite requirements on a number of the sector core and electiveunits. It is recommended that these qualifications are investigated prior to selectingelectives to allow for future planning
• the remaining sectoral core units may be selected as electives• the unit listed below is suggested as an elective• see Levels Chart for full list of units available in the FNS04 Financial Services Training
Package.
SUGGESTED ELECTIVE UNIT
FNSICPRO401B Develop and maintain in-depth knowledge of products and services usedby your organisation or sector
FNS40107 Certificate IV in Financial Services (Insurance Services)
To attain a FNS40107 Certificate IV in Financial Services (Insurance Services) 13 units mustbe achieved:
• 4 industry core units, plus
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• 4 sectoral core units, plus• 5 elective units.
This qualifications is designed to reflect the role of employees working in insurance services,in service and support roles who perform duties such as:
• managing, validating and settling claims within delegated authorities• issuing contracts of insurance for domestic lines• dealing with customer enquiries (within authority levels)• appointing intermediaries to investigate standard claims• initiating claims recovery• reviewing individual and group applications for automobile, fire, health, liability, life,
property, marine, aircraft and other insurance within delegated authorities• evaluating new and renewal applications to determine insurance risks, insurance
premiums, extent of insurance coverage and other conditions of the insurance contractwithin delegated authorities
• answering insurance inquiries from clients and from insurance agents, consultants andother company personnel
• preparing reports for insurance purposes.
Prerequisite Requirements
Where the industry core units have been demonstrated as a requirement of Certificate III inFinancial Services exemption is provided.
INDUSTRY CORE UNITS
The following units are also required for this qualification, but are often assessed throughrecognition of competence or may have been achieved through the awarding of a lower levelqualification:
Achieve the following 4 industry core units:
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
SECTORAL CORE UNITS
Achieve 4 of the following sectoral core units:
FNSINSV403B Survey potential risk exposure
FNSINSV404B Underwrite renewal business
FNSINSV401B Evaluate risk for new business
FNSINSV402B Underwrite new business
FNSINSV405B Analyse insurance claims
FNSINSV506B Investigate claims
FNSINSV406B Use specialist terminology in insurance claims
FNSICGEN402B Participate in negotiations
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FNSICGEN403B Collect, assess and use information
FNSICGEN404B Resolve disputes
ELECTIVE UNITS
Achieve at least 5 elective units. The 5 elective units may be selected as follows:
• all 5 elective units may be selected from the list of units suitable at Certificate IV level• of the 5 elective units, up to 2 units may be selected from other endorsed Training
Packages in accordance with other packaging guidelines for this qualification• of the 5 elective units, up to 1 unit may be selected from the list of units suitable at
Certificate III level and up to 1 unit may be selected from the list of units suitable atDiploma level
• the remaining sectoral core units may be selected as elective units• the choice of electives should be appropriate to the level and integrity of the
qualification and to the workplace outcomes it is designed to meet• other insurance related qualifications within the FNS04 Financial Services Training
Package carry prerequisite requirements on a number of the sector core and electiveunits. It is recommended that these qualifications are investigated prior to selectingelectives to allow for future planning
• see Levels Chart for full list of units available in the FNS04 Financial Services TrainingPackage.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS40107 Certificate IV in Financial Services
Volume 1 of 3, Qualification 7 of 32 Page 199 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Certificate IV in Financial Services:
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • communicating ideas and information cognisant of clients'
social and cultural diversity and special needs• consulting, questioning, clarifying and evaluating information• consulting and negotiating with internal and external
stakeholders• demonstrating selling skills including matching needs with
products/services• interpreting customer needs• investigating and negotiating to resolve disputes within area
of responsibility• possessing sound presentation skills with an ability to 'read'
verbal and non-verbal body language• using a range of techniques to elicit feedback from
customers• using specialist language in written and oral communication• using well developed interpersonal skills and have the ability
produce a wide range of reports and make presentations asrequired
• writing in a range of styles to suit different audiences
Teamwork • coaching and mentoring staff to reach minimum customerservice standards
• developing a rapport with clients when identifying theirneeds, objectives and financial situation
• developing team plans and contributing to team cohesion• making constructive contributions to group decision making
processes• providing feedback to team members
Problem solving • conducting needs analyses• estimating, forecasting and conducting competitive
comparisons• resolving poor performance issues within scope of
responsibility• performing calculations and developing a risk investment
profile for individual clients• working proactively with management to resolve workplace
issues
Initiative and enterprise • being creative and providing innovative solutions to complex
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issues• responding to new and changing circumstances to ensure
accurate and timely advice
Planning and organising • evaluating and authorising payment requests• maintaining accounts records for compliance purposes• preparing financial reports• recording, gathering and classifying information
Self management • acting as a role model for others• taking to management concerns with own level of
responsibility• working ethically and complying with all industry Codes of
Practice and legislative requirements
Learning • applying learning to develop improved practices• coaching and mentoring others to acquire new knowledge
and skills• contributing to the learning of others through implementing
team building exercises• developing and maintaining professional competence
Technology • selecting and using technology and software packages torecord, track and retrieve information
• using electronic communication devices and processes i.e.internet, intranet, fact finder, email to produce writtencorrespondence, charts, diagrams, schedules and reports.
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
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Volume 1 of 3, Qualification 7 of 32 Page 201 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
FNS40204 Certificate IV in Financial Services (Personal TrustAdministration)To attain a FNS40204 Certificate IV in Financial Services (Personal TrustAdministration) 13 units must be achieved:
• 4 industry core units, plus• 5 sectoral core units, plus• 4 elective units.
This qualification is designed to reflect the role of employees working in personal trustadministration who perform such duties as:
• administering estates• administering trusts• preparing wills for clients• establishing and administering powers of attorney.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
SECTORAL CORE UNITS
Achieve the following 5 sectoral core units:
FNSPERT402B Administer an Intestate Estate
FNSPERT403B Prepare a Will
FNSPERT404B Administer a complex Estate
FNSPERT405B Administer a complex Trust
FNSPERT406B Establish Powers of Attorney or accept appointment under FinancialAdministration Orders
ELECTIVE UNITS
Achieve at least 4 elective units. The elective units may be selected as follows:
• all 4 elective units may be selected from the list of units suitable at Certificate IV level• of the 4 elective units, up to 1 unit may be selected from the list of units suitable at
Certificate III level and up to 2 units may be selected from the list of units suitable atDiploma level
• of the 4 elective units, up to 2 elective units may be selected from other endorsedTraining Packages in accordance with other packaging guidelines for this qualification
• the choice of electives should be appropriate to the level and integrity of thequalification and to the workplace outcomes it is designed to meet
• the units listed below are suggested as suitable electives
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS40204 Certificate IV in Financial Services (Personal Trust Administration)
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• see Levels Chart for full list of units available in the FNS04 Financial Services TrainingPackage.
SUGGESTED ELECTIVE UNITS
FNSPERT407B Administer Powers of Attorney or Financial Administration Orders
FNSICSAM301B Identify opportunities for cross selling products and services
FNSICCUS401B Deliver a professional service to customers
FNSICCUS506B Determine client requirements and expectations
FNSICPRO401B Develop and maintain in-depth knowledge of products and services usedby your organisation or sector
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
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Volume 1 of 3, Qualification 8 of 32 Page 203 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Certificate IV in Financial Services (Personal TrustAdministration):
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • conducting research to collect and analyse information and
present it in report form• dealing empathetically with clients who may be experiencing
stress• liaising with internal and external personnel with an ability to
'read' verbal and non-verbal body language• questioning, clarifying and evaluating information• using a range of techniques and sales skills to select
appropriate product for the customer• using conflict resolution and negotiation skills as required• using specialist language in written and oral communication• writing in a range of styles to suit different audiences
Teamwork • using relationship building skills when seeking personalinformation from clients
• working with clients from a range of cultural and socialbackgrounds
• working with specialists to achieve the best outcome for theclient
Problem solving • applying investigative skills to collect information, locateassets and determine liabilities
• comparing products and services in order to offer clientsdifferent options
• determining asset allocation strategies in accordance withclient needs and legislative requirements
• identifying risk and fraud indicators• preparing and interpreting complex financial statements and
performing complex financial calculations
Initiative and enterprise • aligning customer characteristics to ' best product'• identifying cross selling opportunities• reviewing emerging industry trends continually and applying
to product and service knowledge
Planning and organising • managing information and scheduling and coordinatingcompeting tasks
• meeting statutory requirements when administering estatesand trusts
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• processing routine documents and maintaining files• preparing, executing, reviewing and storing legal
documentation and other client information
Self management • defining and understanding own work role• managing own time and priorities and dealing with
contingencies• understanding and acting upon compliance matters• working ethically and complying with industry Professional
Code of Practice and legislative requirements
Learning • applying self learning by accessing manuals, online helpand others in the workplace to solve technology problems
• undertaking induction and other training to maintain productknowledge
Technology • operating the organisation's business or recordsmanagement system
• using business technology such as computers and applyingword processing, spreadsheet and database skills toproduce workplace documents
• using technology to assist the management of informationand to assist the planning process
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
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FNS40207 Certificate IV in Financial Services (Bookkeeping)To attain a FNS40207 Certificate IV in Financial Services (Bookkeeping) 13 units must beachieved:
• 4 industry core units, plus• 7 sectoral core units ,plus• 2 elective units.
This qualification reflects the role of individuals who use well-developed skills and a broadknowledge base in a wide variety of contexts and environments. They apply solutions to adefined range of problems, and analyse and evaluate information from a variety of sources inrelation to a variety of tasks. They may provide guidance to others with some limitedresponsibility for the output of others.
This qualification is designed to reflect the role of contract bookkeepers and employeesperforming in the role of bookkeeper for organisations and who perform duties such as:
• establishing and maintaining accounting systems• assisting with Business Activity Statements and other office taxes• payroll• developing management systems for organisations.
Prerequisite Requirements
Where the industry core units have been demonstrated as a requirement of Certificate III inFinancial Services exemption is provided
Industry Core Units
The following units are also required for this qualification, but are often assessed throughrecognition of competence or may have been achieved through the awarding of a lower levelqualification:
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
Sectoral Core Units
Achieve the following 7 sectoral core units:
FNSBKPG401A Develop and implement policies and practices relevant to bookkeepingactivities
FNSBKPG402A Establish and maintain a Cash Accounting System
FNSBKPG403A Establish and maintain an Accrual Accounting System
FNSBKPG404A Carry out Business Activity and Instalment Activity Statement tasks
FNSACCT406B Maintain asset and inventory records
FNSACCT405B Prepare financial statements
FNSBKPG405A Establish and maintain a payroll system
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
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Elective Units
Achieve 2 elective units selected from the list below or any other endorsed TrainingPackage:
• both elective units selected may be from the list of units suitable at Certificate IV orDiploma level
• electives must be relevant to work outcome, local industry requirements and thequalification level
• see Levels Chart for full list of units available in the FNS04 Financial Services TrainingPackage.
Selecting electives for different work outcomes
The workplace context for this qualification varies, and this context must guide the selectionof elective units. Examples of appropriate units for particular work outcomes at this levelinclude:
Contract Bookkeeper
Industry Core Units plus, Sectoral Core Units plus
FNSICCUS401B Deliver a professional service to customers
FNSICCUS402B Maintain customer relationship
Small Business Owner
Industry Core Units plus, Sectoral Core Units plus
FNSICORG501B Manage own professional development
FNSPRAC501B Manage and maintain small/medium business operations
Permanent Paid Bookkeeper (working for enterprise)
Industry Core Units plus, Sectoral Core Units plus
FNSICORG501B Manage own professional development
FNSICCUS402B Maintain customer relationship
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS40207 Certificate IV in Financial Services (Bookkeeping)
Volume 1 of 3, Qualification 9 of 32 Page 207 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Certificate IV in Financial Services (Bookkeeping):
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • creating manuals and flowcharts
• developing and writing reports to specifications• establishing and maintaining networks• preparing and presenting information in appropriate
electronic format• questioning, listening and clarifying client's requirements• reading and interpreting workplace information• using interpersonal skills i.e. liaising, listening and
consulting• using effective telephone techniques and having the ability
to negotiate solutions with clients and colleagues
Teamwork • applying knowledge of own role as a team member to meetworkplace outcomes
• working with management to determine organisationalreporting requirements
• working with others such as clients and external experts
Problem solving • applying estimating, forecasting and analysis skills• analysing and verifying source documents• checking and coding data, reconciling accounts, verifying
and correcting discrepancies• determining security protocols• identifying OHS hazards and applying risk control• performing calculations
Initiative and enterprise • analysing organisation's business opportunities to determinecash or accrual accounting system and payment options inconsultation with management
• investigating accounting discrepancies• referring non routine problems to a nominated person
Planning and organising • ensuring the integrity of systems, records and reportingprocedures are maintained
• maintaining accounting records for compliance purposes• preparing, processing and maintaining financial records
including payroll• processing routine documents and maintaining files,
managing information and scheduling and coordinatingcompeting tasks
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• recording, gathering and classifying information• setting up, maintaining and reviewing systems
Self management • applying time management strategies to own work schedule• 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 industry Professional
Code of Practice and legislative requirements
Learning • adapting to change in technology and/or work practices• following workplace safety procedures• identifying opportunities for own professional development• maintaining currency of knowledge of legislation and
industry requirements• seeking information, advice or services that fall outside
scope of operation• using online help for self learning purposes
Technology • applying data entry and keyboard skills• operating computers, using word processing, spreadsheet
and database skills to produce workplace documentation• using accounting specific software packages• using business technology to access, enter and monitor
information
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS40207 Certificate IV in Financial Services (Bookkeeping)
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FNS40304 Certificate IV in Financial Services (CreditManagement)To attain a Certificate IV in Financial Services (Credit Management) 13 units must beachieved:
• 4 industry core units, plus• 4 sectoral core units, plus• 5 elective units.
This is the industry recommended pathway for persons typically employed as credit officers,collection officers, team leaders and supervisors providing an intermediate understanding ofthe credit management functions.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
SECTORAL CORE UNITS
Achieve 4 of the following sectoral core units:
FNSCRDT401B Evaluate credit applications
FNSCRDT403B Determine and establish appropriate securities to minimise risk
FNSCRDT404B Manage and recover errant debts
FNSCOMP402B Facilitate compliance with statutory, legislative and regulatory requirementsvia staff education
FNSMERC402B Initiate legal recovery of debts
FNSICGEN404B Resolve disputes
ELECTIVE UNITS
Achieve at least 5 elective units. The elective units may be selected as follows:
• all 5 elective units may be selected from the list of units suitable at Certificate IV level• of the 5 elective units, up to 1 unit may be selected from the list of units suitable at
Certificate III level and up to 2 units may be selected from the list of units suitable atDiploma level
• of the 5 elective units, up to 3 units may be selected from other endorsed TrainingPackages in accordance with other packaging guidelines for this qualification
• the remaining sectoral core units may be selected as elective units• the choice of electives from other packages or at lower or higher levels should be
appropriate to the level and integrity of the qualification and to the workplace outcomesit is designed to meet
• the units listed below are suggested as suitable electives•
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS40304 Certificate IV in Financial Services (Credit Management)
Volume 1 of 3, Qualification 10 of 32 Page 210 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
see Levels Chart for full list of units available in the FNS04 Financial Services TrainingPackage.
SUGGESTED ELECTIVE UNITS
FNSMERC301B Collect debts
FNSDMGT501B Promote understanding of the role and effective use of consumer credit
FNSDMGT502B Assist clients to identify, address and monitor own financial situation
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS40304 Certificate IV in Financial Services (Credit Management)
Volume 1 of 3, Qualification 10 of 32 Page 211 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Certificate IV in Financial Services (Credit Management):
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the 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• liaising with debtors and using negotiation strategies to
resolve disputes, queries and problems• providing financial counseling and communicating in plain
language• using excellent interpersonal, telephone and written skills
Teamwork • developing a rapport with clients when identifying theirneeds, objectives and financial situation
• liaising with clients, debtors and a range of other peopleinternal and external to the organisation
Problem solving • analysing and synthesising information and determininglevels of credit risk
• applying risk management criteria in assessing creditapplications and security requirements
• calculating interest/loan repayments• collecting, comparing and contrasting data• comparing products and services in order to offer clients
different options• using problem solving tools and techniques
Initiative and enterprise • generating a range of options for clients to consider• initiating legal processes in line with client need and legal
requirements• referring non routine problems to a nominated person• translating ideas into action
Planning and organising • contributing to the planning process by researching,analysing and validating information relating to debts
• processing routine documents and maintaining files,managing information and scheduling and coordinatingcompeting 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 compliance
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS40304 Certificate IV in Financial Services (Credit Management)
Volume 1 of 3, Qualification 10 of 32 Page 212 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
requirements are met• working ethically and complying with organisational,
Professional Code of Practice and legislative requirements
Learning • acquiring and applying knowledge of credit legislation,products and services
• applying learning to develop improved practices• coaching and mentoring others to acquire new knowledge
and skills• contributing to the learning of others through implementing
team building exercises• developing and maintaining professional competence
Technology • operating the organisation's business or recordsmanagement system
• using business technology such as computers and applyingword processing, spreadsheet and database skills toproduce workplace documents
• using technology to assist the management of informationand to assist the planning process
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS40304 Certificate IV in Financial Services (Credit Management)
Volume 1 of 3, Qualification 10 of 32 Page 213 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
FNS40604 Certificate IV in Financial Services (Accounting)This qualification is designed to reflect the role of employees who perform duties such as:
• completing Business Activity Statements (BAS) and other office taxes• operational reporting• producing of basic management reports• producing basic job costing reports• preparing budgets• supervising the operation of computer based systems• classifying, recording and reporting of accounting information• maintaining inventory records• managing a small office• making decisions in a legal context.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
SECTORAL CORE UNITS
Achieve the following 6 sectoral core units:
FNSACCT401B Process business tax requirements
FNSACCT402B Produce job costing information
FNSACCT403B Prepare operational budgets
FNSACCT404B Make decisions within a legal context
FNSACCT405B Prepare financial statements
FNSACCT406B Maintain asset and inventory records
ELECTIVE UNITS
Achieve at least 3 elective units. The 3 elective units may be selected as follows:
• all 3 elective units may be selected from the list of units suitable at Certificate IV level• of the 3 elective units, up to 2 units may be selected from the list of units suitable at
Certificate III level and up to 2 units may be selected from the list of units suitable atDiploma level
• of the 3 elective units, up to 2 units may be selected from other endorsed packages inaccordance with other packaging guidelines for this qualification
• the choice of electives should be appropriate to the level and integrity of thequalification and to the workplace outcomes it is designed to meet
• the units listed below are suggested as suitable electives• see Levels Chart for full list of units available in the FNS04 Financial Services Training
Package.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS40604 Certificate IV in Financial Services (Accounting)
Volume 1 of 3, Qualification 11 of 32 Page 214 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
SUGGESTED ELECTIVE UNITS
FNSICACC301B Administer accounts payable
FNSICACC307B Reconcile and monitor accounts receivable
FNSICACC401B Evaluate and authorise payment requests
FNSICORG516B Prepare financial reports to meet statutory requirements
FNSICORG517B Prepare financial forecasts and projections
FNSACCT407B Set up and operate a computerised accounting system
BSBADM408A Prepare financial reports
BSBCMN406A Maintain business technology
NOTE: When selecting units from above please note that:
• BSBCMN308A is a prerequisite unit to FNSACCT407B.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS40604 Certificate IV in Financial Services (Accounting)
Volume 1 of 3, Qualification 11 of 32 Page 215 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Certificate IV in Financial Services (Accounting):
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • compiling data and preparing financial statements and ad
hoc reports• developing and writing reports to specifications• discussing and negotiating with stakeholders when
preparing budgets• liaising, listening and consulting• preparing and presenting routine correspondence in
appropriate electronic format• using effective telephone techniques and having the ability
to negotiate resolutions with clients and colleagues
Teamwork • contributing with others to implement policies andprocedures
• referring matters to nominated person as required• working with others to gather information and to develop
budgets
Problem solving • applying estimating, forecasting and analysis skills• checking the accuracy of calculations• determining security protocols• identifying OHS hazards and risk control• solving discrepancies
Initiative and enterprise • applying learning about ergonomic activities to developimproved processes
• applying referral skills• designing reports to effectively present workplace
information• referring non-routine problems to a nominated person
Planning and organising • establishing and maintaining an accounting system• maintaining accounting records for compliance purposes• maintaining systems, records and reporting procedures• processing accounting data and preparing reports• researching and managing data collection and testing
Self management • adapting to change in technology and work practices• identifying and acting upon professional development
opportunities• understanding and acting upon compliance matters
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS40604 Certificate IV in Financial Services (Accounting)
Volume 1 of 3, Qualification 11 of 32 Page 216 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
• working ethically and complying with industry ProfessionalCode of Practice and legislative requirements
• working within own defined work role
Learning • developing and maintaining personal competence• maintaining knowledge of relevant legislation and industry
Codes of Practice• using online help for self learning purposes
Technology • adapting to change in technology and working withinergonomic guidelines
• using technology to assist the management of informationand to establish and operate systems
• using word processing, spreadsheet and database skills toproduce workplace documents and reports
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS40604 Certificate IV in Financial Services (Accounting)
Volume 1 of 3, Qualification 11 of 32 Page 217 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
FNS40704 Certificate IV in Financial Services (Financial PracticeSupport)To attain a Certificate IV in Financial Services (Financial Practice Support) 13 unitsmust be achieved:
• 4 industry core units, plus• 4 sectoral core units, plus• 5 elective units.
This is the industry recommended pathway for persons typically performing a support role toqualified financial planners and para-planners. Work conducted is determined by establishedorganisational procedures and is limited to a preset range of products and services. Thisperson is generally not required to be an authorised representative and may or may not bepursuing higher qualifications in financial planning.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
SECTORAL CORE UNITS
Achieve the following 4 sectoral core units:
FNSFPLN401B Extract and analyse information on specified financial strategies andproducts to set guidelines
FNSFPLN402B Prepare financial plans to set strategies and guidelines
FNSFPLN403B Implement financial plan to predetermined guidelines
FNSFPLN501B Comply with financial planning practice ethical and operational guidelinesand regulations
ELECTIVE UNITS
Select at least 5 elective units. The 5 elective units may be selected as follows:
• all 5 elective units may be selected from the list of units suitable at Certificate IV level• of the 5 elective units, up to 1 unit may be selected from the list of units suitable at
Diploma level and up to 1 unit may be selected from the list of units suitable atCertificate III level
• of the 5 elective units, up to 3 units may be selected from other endorsed TrainingPackages in accordance with other packaging guidelines for this qualification
• the choice of electives should be appropriate to the level and integrity of thequalification and to the workplace outcomes it is designed to meet
• if ASIC Tier 2 compliance is sought, the two ASIC aligned units FNSASIC301BEstablish client relationship and analyse needs, and FNSASIC302B Develop, presentand negotiate client solutions, must be selected
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS40704 Certificate IV in Financial Services (Financial Practice Support)
Volume 1 of 3, Qualification 12 of 32 Page 218 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
• if Authorised Representative status is required at Tier 1, the ASIC aligned unitFNSASIC503ZB Provide advice in Financial Planning, must be demonstrated. Pleasenote that FNSASIC503ZB is a Diploma level unit which has 5 Diploma level prerequisiteunits. Only one of these 6 Diploma level units will count towards the awarding of aCertificate IV.
• the unit listed below is suggested as a suitable elective• see Levels Chart for full list of units available in the FNS04 Financial Services Training
Package.
SUGGESTED ELECTIVE UNIT
FNSICPRO502B Conduct product research to support recommendations
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS40704 Certificate IV in Financial Services (Financial Practice Support)
Volume 1 of 3, Qualification 12 of 32 Page 219 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Certificate IV in Financial Services (Financial PracticeSupport):
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • accessing professional networks
• developing and writing reports to specifications• negotiating solutions with clients• preparing and presenting routine and complex
correspondence in appropriate electronic formats• questioning, listening and clarifying client's requirements• using effective telephone techniques and having the ability
to negotiate resolutions with clients and colleagues
Teamwork • coordinating professional development activities andseeking peer reviews
• developing a rapport with clients when identifying theirneeds, objectives and financial situation
• receiving feedback on performance• referring matters to a nominated person as required• seeking feedback on research findings
Problem solving • applying estimating, forecasting and analysis skills• checking the accuracy of calculations• collecting, comparing and contrasting data in order to create
reports• conducting trend and risk analyses including product
modeling• determining security protocols• identifying and resolving inconsistencies in data• identifying OHS hazards and risk control• testing strategic assumptions
Initiative and enterprise • applying referral skills• applying the learning of ergonomics to develop improved
processes• continually reviewing and applying emerging industry trends
to product and service knowledge• developing administrative processes to implement financial
plans• researching alternative options for clients' needs
Planning and organising • developing and maintaining systems, records and reportingprocedures
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS40704 Certificate IV in Financial Services (Financial Practice Support)
Volume 1 of 3, Qualification 12 of 32 Page 220 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
• implementing financial plans according to a time scheduleand agreed priorities
• processing workplace documentation and maintaining files;managing information; scheduling and coordinatingcompeting tasks
• undertaking research and developing solutions such asfinancial plans
Self management • acting as a role model for others• planning own work schedule and monitoring and evaluating
own work performance• taking to management, concerns with own level of
responsibility• understanding own work role and working within it• working ethically and complying with all industry Codes of
Practice and legislative requirements
Learning • applying learning to develop improved practices• developing and maintaining professional competence• following workplace safety procedures• identifying opportunities for professional development• seeking expert advice as required 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 workplacedocumentation
• using business technology to access, organise and monitorinformation
• using research data devices and telecommunication devicesand equipment
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS40704 Certificate IV in Financial Services (Financial Practice Support)
Volume 1 of 3, Qualification 12 of 32 Page 221 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
FNS40804 Certificate IV in Financial Services (Finance/MortgageBroking)To attain a Certificate IV in Financial Services (Finance/Mortgage Broking) 13 unitsmust be achieved:
• 4 industry core units, plus• 5 sectoral core units, plus• 4 elective units.
This qualification is designed to reflect the role of employees working in finance/mortgagebroking who perform duties such as:
• securing new clients and contacts interested in mortgage or finance broking services• presenting broking options to clients based on identified needs• preparing and presenting loan applications to lenders• assisting in the settling of a loan• managing legislative and code of practice obligations relevant to the mortgage and/or
finance broking industry specifically.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
SECTORAL CORE UNITS
Achieve the following 5 sectoral core units:
FNSFBRK401B Prepare and present loan application on behalf of finance or mortgagebroking client
FNSFBRK402B Provide finance and/or mortgage broking services
FNSFBRK403B Present broking options to client
FNSCOMP501B Comply with financial services, legislation, industry and professional codesof practice
FNSCRDT301B Process applications for credit
ELECTIVE UNITS
Achieve at least 4 elective units. The 4 elective units may be selected as follows:
• all 4 elective units may be selected from the list of units suitable at Certificate IV level• of the 4 elective units, up to 1 unit may be selected from the list of units suitable at
Diploma level• of the 4 elective units, up to 3 units may be selected from other endorsed Training
Packages in accordance with other packaging guidelines for this qualification• the units listed below are suggested as suitable electives
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS40804 Certificate IV in Financial Services (Finance/Mortgage Broking)
Volume 1 of 3, Qualification 13 of 32 Page 222 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
• see Levels Chart for full list of units available in the FNS04 Financial Services TrainingPackage
SUGGESTED ELECTIVE UNITS
FNSFBRK404B Manage self in finance and/or mortgage broking industry
FNSFBRK501B Settle application and loan arrangements in the finance/mortgage brokingindustry
FNSICPRO401B Develop and maintain in-depth knowledge of products and services usedby your organisation or sector
FNSICCUS401B Deliver a professional service to customers
FNSICCUS501B Develop and nurture relationships with clients, other professionals and thirdparty referrers
FNSICORG510B Manage own professional development
FNSICSAM403B Prospect for new clients
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS40804 Certificate IV in Financial Services (Finance/Mortgage Broking)
Volume 1 of 3, Qualification 13 of 32 Page 223 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Certificate IV in Financial Services (Finance/MortgageBroking):
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • accessing professional networks and conducting cold calls
• developing and writing reports to specifications• preparing and presenting correspondence in appropriate
electronic format• questioning, listening and clarifying clients' requirements• using effective telephone techniques and having the ability
to negotiate resolutions with clients and colleagues• using excellent customer service skills and maintain an
on-going relationship with clients
Teamwork • building rapport and trust with clients and liaising andco-operating with a wide range of persons
• liaising with clients and a range of other people internal andexternal to the organisation
• referring matters to nominated person as required
Problem solving • analysing and synthesising information and determininglevels of credit risk
• calculating interest/loan repayments• checking the accuracy of calculations• collecting, comparing and contrasting data in order to create
reports• comparing products and services in order to offer clients
different options• identifying and resolving areas of client resistance• using problem solving tools and techniques
Initiative and enterprise • adapting to the special needs of customers• continually reviewing and applying emerging trends to
product and service knowledge• generating a range of options in response to a client's brief• responding to changed and changing situations
Planning and organising • gathering industry information through research• implementing internal monitoring/audit program to ensure
ongoing compliance• maintaining statutory records• preparing, processing and settling loan applications• processing credit applications
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS40804 Certificate IV in Financial Services (Finance/Mortgage Broking)
Volume 1 of 3, Qualification 13 of 32 Page 224 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
• processing documents and maintaining files, managinginformation and scheduling and coordinating competingtasks
Self management • acting as a role model for others• applying time management strategies to own work schedule• asking for and responding to feedback on performance• defining and understanding own work role• planning own work schedule and monitoring and evaluating
own work performance• presenting a positive organisational image• working ethically and complying with all industry Codes of
Practice and legislative requirements
Learning • developing and maintaining personal competence• identifying opportunities for professional development
identified• keeping up-to-date with legislative and policy changes within
the industry and applying these to work practices• knowing and following workplace safety procedures• using online help for self learning purposes
Technology • conducting web searches and using corporate templates• operating computers• using business technology to access, organise and monitor
information using research data devices, telecommunicationdevices and related equipment
• using word processing, spreadsheet and database entryskills to produce workplace documentation
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS40804 Certificate IV in Financial Services (Finance/Mortgage Broking)
Volume 1 of 3, Qualification 13 of 32 Page 225 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
FNS40904 Certificate IV in Financial Services (Superannuation)To attain a Certificate IV in Financial Services (Superannuation) 13 units must beachieved:
• 4 industry core units, plus• 4 sectoral core units, plus• 5 elective units.
This is the industry recommended competency pathway for persons typically performing arange of routine and non-routine duties within superannuation that primarily involve specificfund administration functions. This person may work within a superannuation fund or in anoutsourced service provider. They would be considered to be competent in handling a widevariety of complex situations within fund administration.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
SECTORAL CORE UNITS
Achieve the following 4 sectoral core units:
FNSSUPR401B Process complex benefits and/or insurance claims
FNSSUPR402B Assist in meeting superannuation compliance requirements
FNSICORG402B Work with specialist and outsourced services
FNSICGEN404B Resolve disputes
ELECTIVE UNITS
Achieve at least 5 elective units. The 5 elective units may be selected as follows:
• all 5 elective units may be selected from the list of units suitable at the Certificate IVlevel
• at least 3 of the 5 elective units must be selected from the Superannuation stream (i.e.coded FNSSUPR)
• of the 5 elective units, up to 2 units may be selected from the list of units suitable atDiploma level and up to 1 unit may be selected from the list of units suitable at theCertificate III level
• of the 5 elective units, up to 2 units may be selected from other endorsed TrainingPackages in accordance with other packaging guidelines for this qualification
• the units listed below are suggested as suitable electives• see Levels Chart for full list of units available in the FNS04 Financial Services Training
Package
SUGGESTED ELECTIVE UNITS
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS40904 Certificate IV in Financial Services (Superannuation)
Volume 1 of 3, Qualification 14 of 32 Page 226 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
FNSSUPR403B Work within a defined benefit fund
FNSSUPR404B Administer retirement income streams
FNSSUPR405B Establish and customise complex employer accounts
FNSSUPR406B Implement fund review practices
FNSSUPR407B Establish and maintain fund or plan
FNSSUPR408B Assess complex superannuation benefit and/or insurance claims
FNSICGEN403B Collect, assess and use information
FNSICCUS401B Deliver a professional service to customers
FNSICCUS402B Maintain customer relationship
FNSICPRO401B Develop and maintain in-depth knowledge of products and services usedby your organisation or sector
FNSICACC303B Prepare, match and process receipts
FNSICACC305B Process payment documentation
NOTE: When selecting units from the above list please note that:
• FNSSUPR407B must be assessed in conjunction with, or following FNSICCUS302B,FNSICGEN403B, FNSICGEN501B and FNSSUPR301B
• FNSSUPR408B must be assessed in conjunction with, or following FNSSUPR305B
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS40904 Certificate IV in Financial Services (Superannuation)
Volume 1 of 3, Qualification 14 of 32 Page 227 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Certificate IV in Financial Services (Superannuation):
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • developing and writing reports to specifications
• negotiating solutions with clients• preparing and presenting correspondence in appropriate
electronic formats• questioning, listening and clarifying clients' requirements• using effective telephone techniques and having the ability
to negotiate solutions with clients and colleagues
Teamwork • coaching and mentoring staff on new skills• contributing to team cohesion• making constructive contributions to group decision making
processes• participating in the process of monitoring and reviewing
team performance• providing feedback, support and encouragement to team
members• referring matters to a higher authority as required and
outsourcing tasks to internal and external specialists
Problem solving • applying analytical skills, data interpretation skills andconducting comparative analyses
• checking claim applications for errors and inconsistencies• checking the accuracy of calculations• conducting data integrity checks• identifying OHS hazards and risk control
Initiative and enterprise • identifying opportunities for further improvement andeffectively managing change by integrating new informationinto work practices
• implementing continuous improvement practices• seeking specialist advice as required
Planning and organising • contributing to the planning process by researching andvalidating information relating to claims
• ensuring the integrity of systems, records and reportingprocedures are maintained
• implementing internal monitoring/audit program to ensureongoing compliance
• planning work considering resources, time and otherconstraints
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS40904 Certificate IV in Financial Services (Superannuation)
Volume 1 of 3, Qualification 14 of 32 Page 228 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Self management • defining and understanding own work role• 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• understanding and acting upon compliance implications• working ethically and complying with industry Professional
Code of Practice and legislative requirements
Learning • acquiring and applying knowledge of legislation, products,services and organisational policies and procedures
• coaching and mentoring others to acquire new knowledgeand skills
• developing and maintaining personal competence• identifying opportunities for professional development• understanding and following workplace safety procedures• 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 workplacedocumentation
• using business technology to access, organise and monitorinformation
• using research data devices and telecommunication devicesand equipment
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS40904 Certificate IV in Financial Services (Superannuation)
Volume 1 of 3, Qualification 14 of 32 Page 229 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
FNS41007 Certificate IV in Financial Services (WorkersCompensation)To attain a FNS41007 Certificate IV in Financial Services (Workers Compensation) 13units must be achieved:
• 4 core units, plus• 5 sectoral core units (chosen from either claims or underwriting units), plus• 4 electives units.
This qualification reflects the role of individuals who use well-developed skills and a broadknowledge base in a wide variety of contexts. They apply solutions to a defined range ofunpredictable problems, and analyse and evaluate information from a variety of sources.They may provide supervision or leadership and guidance to others with some limitedresponsibility for the claims processing of others.
Individuals with this qualification may work in a large organisation specialising in workerscompensation insurance or for a small business agent. They may perform duties relating tocoordinating workers compensation case claims; leading a small team; analysing claims;resolving workers compensation claims disputes that may have a medium or high riskdetermination; monitoring a team's performance; and reviewing, monitoring and processingclaims in accordance with organisational underwriting requirements.
Job roles and titles vary across different industry sectors. Possible job titles relevant to thisqualification include:
• workers compensation case coordinator• workers compensation agent• workers compensation manager.
Typical duties may include:
• coordinating claims that have a specified financial cost/risk• coordinating claims where time off work is required/medium to high risk claims• coordinating claims that require ongoing monitoring• coordinating claims that require rehabilitation services• coordinating claims that require ongoing medical treatment• coordinating claims that may require re-skilling and development of return to work
strategies• promoting injury and disease prevention in the workplace• improving service delivery for injured workers and employers• collating and analysing appropriate employer information for underwriting policies• calculating data collected in accordance with relevant legislation• renewing risk identification of industry groups• providing leadership and supervision to team members• supervising and reviewing the work output of others.
Prerequisite Requirements
There are no prerequisite requirements for this qualification.
Core Units
Achieve the following 4 core units:
FNSWCMP303B Work within the workers compensation industry sector
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS41007 Certificate IV in Financial Services (Workers Compensation)
Volume 1 of 3, Qualification 15 of 32 Page 230 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
FNSICCUS402B Maintain customer relationships
FNSICGEN404B Resolve disputes
FNSINSV405B Analyse insurance claims
Sectoral Core Units
Achieve 5 of the following sectoral core units (units may be selected from either oneor both sectors as listed):
Claims units
FNSWCMP401B Plan and implement rehabilitation and return to work strategies
FNSWCMP402B Represent workers compensation agent/insurer at conciliation and reviewhearings
FNSWCMP403B Educate clients on workers compensation issues
FNSWCMP304A Manage claims
FNSWCMP404A Assist injured workers with job placement
FNSWCMP501A Manage workers compensation case loads
FNSWCMP502A Develop a return to work strategy
Underwriting units
FNSINSV401B Evaluate risk for new business
FNSINSV402B Underwrite new business
FNSINSV404B Underwrite renewal business
FNSLIFE402B Settle policy payments and terminations
Elective Units
Achieve at least 4 elective units. The 4 elective units may be selected as follows:
• all 4 electives may be selected from the list of units suitable at Certificate IV level• of the 4 elective units, up to 2 units may be selected from the list of units suitable at
Diploma level• of the 4 electives units, up to 2 units may be selected from other endorsed Training
Packages in accordance with other packaging guidelines for this qualification• see Levels Chart for full list of units available in the FNS04 Financial Services Training
Package.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS41007 Certificate IV in Financial Services (Workers Compensation)
Volume 1 of 3, Qualification 15 of 32 Page 231 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Certificate IV in Financial Services (Workers Compensation):
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • actively consulting stakeholders and seeking client feedback
• developing and writing reports to specifications• fostering client relationships and providing a high level of
customer service and relationship management• presenting cases at conciliation conferences/courts/tribunals
and reviewing hearings• using effective high level written and oral skills to mediate,
negotiate and facilitate resolutions• using external networks and providing advice on
rehabilitation services
Teamwork • working effectively within a multi-disciplinary team• working with a wide range of experts inside and outside the
organisation, such as medical and rehabilitation advisorsand job search case managers for job placement
Problem solving • analysing and assessing a client's capability to return towork
• collecting, comparing and contrasting data• costing rehabilitation services and return to work plans• developing and implementing payment schedules• using dispute resolution techniques• using judgement and decision making skills
Initiative and enterprise • developing and using techniques to assist the long termmanagement of clients' injuries
• developing innovative approaches to return to workstrategies
• matching employer's requirements and worker's capabilities
Planning and organising • conducting initial assessments, and developing andmonitoring return to work plans and rehabilitation plans
• coordinating and securing resources to assist injuredworkers
• developing and implementing contingency managementstrategies to keep clients informed on the progress of theircase
• monitoring, reviewing and closing cases• preparing for hearings• researching clients' educational needs and documenting
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS41007 Certificate IV in Financial Services (Workers Compensation)
Volume 1 of 3, Qualification 15 of 32 Page 232 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
information• using and maintaining systems, records and reporting
procedures
Self management • applying case load management skills• managing own time and priorities and dealing with
contingencies• representing organisation in a professional manner at
hearings and court cases• working ethically and complying with all industry Codes of
Practice and legislative requirements
Learning • arranging induction and training for injured workers at placeof employment
• educating injured workers on job search techniques• maintaining currency of knowledge of legislation, injury
management models and related services• referring claimants to external rehabilitation services
Technology • conducting web searches and using corporate templates• using business technology such as computers, and word
processing and document management software• using presentation equipment and materials• using research data devices and telecommunication devices
and equipment
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS41007 Certificate IV in Financial Services (Workers Compensation)
Volume 1 of 3, Qualification 15 of 32 Page 233 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
FNS50107 Diploma of Financial ServicesTo provide maximum flexibility for packaging qualifications and employability, the FNS50107Diploma of Financial Services has been identified as a root qualification that includes theexisting general qualification and seven new specialist qualifications.
The specialist qualifications are in the following areas:
• loss adjusting• life distribution• general distribution• general insurance• insurance broking• ASIC accreditation Financial Product Adviser in Life Insurance
FNS50107 DIPLOMA OF FINANCIAL SERVICES
To attain a Diploma of Financial Services 12 units must be achieved:
• 4 industry core units, plus• 8 elective units.
Where the industry core units have been demonstrated as a requirement of Certificate IV inFinancial Services, exemption is provided.
This qualification is designed to reflect the role of employees working in financial serviceswho perform duties such as:
• managing customer/client service• managing financial and business process• managing a branch/section• managing advisory/distribution services
Note: Several of the core units are common to Certificate III and Certificate IV qualificationsfrom the FNS04 Financial Services Training Package. Those who have previously gained aCertificate III or Certificate IV will have had all or some of these units assessed. If these coreunits have not been previously assessed they will need to be demonstrated prior to theawarding of a Diploma qualification.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
These core units are often assessed through recognition of competence or may have beenachieved through awarding of a lower level qualification.
ELECTIVE UNITS
Achieve at least 8 elective units. The 8 elective units may be selected as follows:
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
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Volume 1 of 3, Qualification 16 of 32 Page 234 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
• all 8 elective units may be selected from the list of units suitable at Diploma level• of the 8 elective units, up to 2 units may be selected from the list of units suitable at
Certificate IV level and up to 2 units may be selected from the list of units suitable atAdvanced Diploma level
• of the 8 elective units, up to 2 units may be selected from other endorsed TrainingPackages in accordance with other packaging guidelines for this qualification
• the choice of electives should be appropriate to the level and integrity of thequalification and to the workplace outcomes it is designed to meet
• see Levels Chart for full list of units available in the FNS04 Financial Services TrainingPackage.
FNS50107 Diploma of Financial Services (LOSS ADJUSTING)
To attain a Diploma of Financial Services (Loss Adjusting) 12 units must be achieved:
• 4 industry core units, plus• 5 sectoral core units, plus• 3 elective units (recommended electives have been selected by industry).
Note: Several of the core units are common to Certificate III and Certificate IV qualificationsfrom the FNS04 Financial Services Training Package. Those who have previously gained aCertificate III or Certificate IV will have had all or some of these units assessed. If these coreunits have not been previously assessed they will need to be demonstrated prior to theawarding of a Diploma qualification.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
These core units are often assessed through recognition of competence or may have beenachieved through the awarding of a lower level qualification.
SECTORAL CORE UNITS
Achieve the following 5 sectoral core units:
FNSICORG503B Develop an operational plan
FNSCOMP601B Interpret and manage statutory, legislative and regulatory obligations fororganisational compliance
FNSICORG504B Implement an operational plan
FNSLOSS501B Plan and implement loss investigation
FNSLOSS502B Evaluate collected information
ELECTIVE UNITS
Achieve at least 3 elective units. The 3 elective units may be selected as follows:
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS50107 Diploma of Financial Services
Volume 1 of 3, Qualification 16 of 32 Page 235 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
• all 3 elective units may be selected from the list of units suitable at the Diploma level• of the 3 elective units, up to 1 elective unit may be selected from the list of units suitable
at the Certificate IV level and up to 2 units may be selected from the list of units suitableat the Advanced Diploma level
• of the 3 elective units, 1 unit may be selected from other endorsed Training Packagesin accordance with other packaging guidelines for this qualification
• the choice of electives should be appropriate to the level and integrity of thequalification and to the workplace outcomes it is designed to meet
• see Levels Chart for full list of units available in the FNS04 Financial Services TrainingPackage.
INDUSTRY RECOMMENDEDELECTIVEUNITS
Industry recommends choosing the following elective units:
FNSLOSS503B Report findings and provide guidance to involved parties
FNSLOSS504B Negotiate/effect settlement
FNSLOSS505B Provide ancillary services
FNS50107 Diploma of Financial Services (LIFE DISTRIBUTION)
To attain a Diploma of Financial Services (Life Distribution) 12 units must be achieved:
• 4 industry core units, plus• 5 sectoral core units, plus• 3 elective units (recommended electives have been selected by industry).
Where the industry core units have been demonstrated as a requirement of Certificate IV inFinancial Services exemption is provided.
Note: Several of the core units are common to Certificate III and Certificate IV qualificationsfrom the FNS04 Financial Services Training Package. Those who have previously gained aCertificate III or Certificate IV will have had all or some of these units assessed. If these coreunits have not been previously assessed they will need to be demonstrated prior to theawarding of a Diploma qualification.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
These core units are often assessed through recognition of competence or may have beenachieved through the awarding of a lower level qualification.
SECTORALCORE UNITS
Achieve the following 5 sectoral core units:
FNSICADV501B Provide appropriate services, advice and products to clients
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS50107 Diploma of Financial Services
Volume 1 of 3, Qualification 16 of 32 Page 236 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
FNSCOMP501B Comply with financial services legislation, industry and professional codesof practice
FNSICORG518B Implement business practices
FNSICSAM503B Develop a marketing plan
FNSLDIS501B Prepare a distribution plan
ELECTIVEUNITS
Achieve at least 3 elective units. The 3 elective units may be selected as follows:
• all 3 elective units may be selected from the list of units suitable at the Diploma level• of the 3 elective units, up to 1 elective unit may be selected from the list of units suitable
at Certificate IV level and up to 2 units may be selected from the list of units suitable atAdvanced Diploma level
• of the 3 elective units, 1 unit may be selected from other endorsed Training Packagesin accordance with other packaging guidelines for this qualification
• the choice of electives should be appropriate to the level and integrity of thequalification and to the workplace outcomes it is designed to meet
• see Levels Chart for full list of units available in the FNS04 Financial Services TrainingPackage.
INDUSTRY RECOMMENDEDELECTIVE UNITS
Industry recommends choosing the following elective units:
FNSLDIS502B Resource the distribution plan
FNSLDIS503B Establish services to provide advice
FNSLDIS504B Implement and manage the distribution plan
FNS50107 Diploma of Financial Services (GENERALDISTRIBUTION)
To attain a Diploma of Financial Services (General Distribution) 12 units must beachieved:
• 4 industry core units, plus• 5 sectoral core units, plus• 3 elective units (recommended electives have been selected by industry).
Where the industry core units have been demonstrated as a requirement of Certificate IV inFinancial Services exemption is provided.
Note: Several of the core units are common to Certificate III and Certificate IV qualificationsfrom the FNS04 Financial Services Training Package. Those who have previously gained aCertificate III or Certificate IV will have had all or some of these units assessed. If these coreunits have not been previously assessed they will need to be demonstrated prior to awardingof a Diploma qualification.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS50107 Diploma of Financial Services
Volume 1 of 3, Qualification 16 of 32 Page 237 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
These core units are often assessed through recognition of competence or may have beenachieved through the awarding of a lower level qualification.
SECTORALCORE UNITS
Achieve the following 5 sectoral core units:
FNSICADV501B Provide appropriate services, advice and products to clients
FNSCOMP501B Comply with financial services legislation, industry and professional codesof practice
FNSICORG518B Implement business practices
FNSICSAM503B Develop a marketing plan
FNSICPRO501B Allocate authorities and guidelines for distribution
ELECTIVE UNITS
Achieve at least 3 elective units. The 3elective units may be selected as follows:
• all 3 elective units may be selected from the list of units suitable at Diploma level• of the 3 elective units, up to 1 elective unit may be selected from the list of units suitable
at Certificate IV level and up to 2 units may be selected from the list of units suitable atAdvanced Diploma level
• of the 3 elective units, 1 unit may be selected from other endorsed Training Packagesin accordance with other packaging guidelines for this qualification
• the choice of electives should be appropriate to the level and integrity of thequalification and to the workplace outcomes it is designed to meet
• see Levels Chart for full list of units available in the FNS04 Financial Services TrainingPackage.
INDUSTRYRECOMMENDED ELECTIVE UNITS
Industry recommends choosing the following electives:
FNSICGEN403B Collect, assess and use information
FNSICPRO602B Establish agreements with intermediaries for product distribution
FNSICORG501B Develop a budget
FNS50107 Diploma of Financial Services (GENERALINSURANCE)
To attain a Diploma of Financial Services (General Insurance) 12 units must beachieved:
• 4 industry core units, plus• 5 sectoral core units, plus• 3 elective units (recommended electives have been selected by industry).
Where the industry core units have been demonstrated as a requirement of Certificate IV inFinancial Services exemption is provided.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS50107 Diploma of Financial Services
Volume 1 of 3, Qualification 16 of 32 Page 238 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Note: Several of the core units are common to Certificate III and Certificate IV qualificationsfrom the FNS04 Financial Services Training Package. Those who have previously gained aCertificate III or Certificate IV will have had all or some of these units assessed. If these coreunits have not been previously assessed they will need to be demonstrated prior to awardingof a Diploma qualification.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
These core units are often assessed through recognition of competence or may have beenachieved through the awarding of a lower level qualification.
SECTORAL CORE UNITS
Achieve the following 5 sectoral core units:
FNSINSV501B Issue contracts of insurance covering non-routine situations
FNSINSV502B Review operational performance of the portfolio
FNSINSV503B Undertake post loss risk management
FNSINSV507B Implement claim recovery procedures
FNSINSV508B Review claims settlement policies and procedures
ELECTIVE UNITS
Achieve at least 3 elective units. The 3elective units may be selected as follows:
• all 3 elective units may be selected from the list of units suitable at Diploma level• of the 3 elective units, up to 1 elective unit may be selected from the list of units suitable
at Certificate IV level and up to 2 units may be selected from the list of units suitable atAdvanced Diploma level
• of the 3 elective units, 1 unit may be selected from other endorsed Training Packagesin accordance with other packaging guidelines for this qualification
• the choice of electives should be appropriate to the level and integrity of thequalification and to the workplace outcomes it is designed to meet
• see Levels Chart for full list of units available in the FNS04 Financial Services TrainingPackage.
INDUSTRY RECOMMENDED ELECTIVE UNITS
Industry recommends choosing the following electives:
FNSICORG604B Provide leadership and motivation in a workplace team
FNSICGEN404B Resolve disputes
FNSINSV512B Settle non-routine, complex claims
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
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Volume 1 of 3, Qualification 16 of 32 Page 239 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
FNSINSV504B Negotiate treaty reinsurance
FNS50107 Diploma of Financial Services (INSURANCE SERVICES)
To attain a Diploma of Financial Services (Insurance Services) 12 units must beachieved:
• 4 industry core units, plus• 5 sectoral core units, plus• 3 elective units.
In addition to the generic qualification below, there are five recommended pathway optionsfor people working across the insurance industry in specialist service and support roles at theDiploma level. These options are outlined in the following table 'Recommended DiplomaPathway Options' and cover:
• underwriting and claims management and/or specialist roles within general insurance(e.g. lead a claims team, lead an underwriting team, handle complex claims, underwritecomplex risk, surveying risk exposure, claims recovery, portfolio performance etc)
• loss adjusting• life distribution• general distribution• ASIC accreditation - financial product adviser in life insurance.
CORE UNITS
Achieve the following 4 industry core units:
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
Note: Several of the core units listed above are common to Certificate III and Certificate IVqualifications from the FNS04 Financial Services Training Package. Those who havepreviously gained a Certificate III or Certificate IV will have had all or some of these unitsassessed. If these core units have not been previously assessed they will need to bedemonstrated prior to awarding of a Diploma qualification.
SECTORAL CORE UNITS
For a generic Diploma of Insurance Services achieve 5 of the following sectoral coreunits:
FNSINSV501B Issue contracts of insurance covering non-routine situations
FNSINSV502B Review operational performance of the portfolio
FNSINSV503B Undertake post loss risk management
FNSINSV504B Negotiate treaty reinsurance
FNSINSV505B Determine risk rating for investment and insurance products
FNSINSV506B Investigate claims
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
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Volume 1 of 3, Qualification 16 of 32 Page 240 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
FNSINSV507B Implement claim recovery procedures
FNSINSV508B Review claims settlement policies and procedures
FNSINSV509B Analyse financial, medical and psychological claims assessments
FNSINSV510B Case manage claims rehabilitation
FNSINSV511B Manage non-routine, complex claims
For a specialist Diploma of Insurance Services see the Recommended DiplomaPathway Options table listed on page 111.
ELECTIVE UNITS
Achieve at least 3 elective units. The 3 elective units may be selected as follows:
• all 3 elective units may be selected from the list of units suitable at the Diploma level• of the 3 elective units, up to 1 elective unit may be selected from the list of units suitable
at Certificate IV level and up to 2 units may be selected from the list of units suitable atAdvanced Diploma level
• of the 3 elective units, 1 unit may be selected from other endorsed Training Packagesin accordance with other packaging guidelines for this qualification
• the remaining sectoral core units may be included as elective units• the choice of electives should be appropriate to the level and integrity of the
qualification and to the workplace outcomes it is designed to meet• the units listed below are suggested as suitable electives• see Levels Chart for full list of units available in the FNS04 Financial Services Training
Package.
SUGGESTED ELECTIVE UNITS
FNSINSV512B Settle non-routine, complex claims
FNSINSV513B Work with legal teams to resolve complex claims
FNSINSV514B Provide decisions on legal liability and indemnity of a claim
FNSINSV515B Review and update claims reserves in portfolio
FNSLIFE501B Assess extraordinary risks
FNSRISK602B Determine and manage risk exposure strategies
NOTE: When selecting units from above please note that:
• FNSICCUS301B is a prerequisite unit to FNSINSV511B
FNS50107 Diploma of Financial Services (ASIC ACCREDITATION FINANCIALPRODUCT ADVISER IN LIFE INSURANCE)
To attain a Diploma of Financial Services (ASIC Accreditation Financial ProductAdviser in Life Insurance) 12 units must be achieved:
• 4 industry core units, plus• 5 sectoral core units, plus• 3 elective units (recommended electives have been selected by industry).
Where the industry core units have been demonstrated as a requirement of Certificate IV inFinancial Services exemption is provided.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS50107 Diploma of Financial Services
Volume 1 of 3, Qualification 16 of 32 Page 241 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Note: Several of the core units are common to Certificate III and Certificate IV qualificationsfrom the FNS04 Financial Services Training Package. Those who have previously gained aCertificate III or Certificate IV will have had all or some of these units assessed. If these coreunits have not been previously assessed they will need to be demonstrated prior to theawarding of a Diploma qualification.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
These core units are often assessed through recognition of competence or may have beenachieved through the awarding of a lower level qualification.
SECTORAL CORE UNITS
Achieve the following 5 sectoral core units:
FNSASIC503XB Provide advice in Life Insurance
FNSICADV501B Provide appropriate services, advice and products to clients
FNSCOMP501B Comply with financial services legislation, industry and professional codesof practice
FNSICPRO502B Conduct product research to support recommendations
FNSICCUS507B Record and implement client instructions
ELECTIVE UNITS
Achieve at least 3 elective units. The 3 elective units may be selected as follows:
• all 3 elective units may be selected from the list of units suitable at the Diploma level• of the 3 elective units, up to 1 elective unit may be selected from the list of units suitable
at the Certificate IV level and up to 2 units may be selected from the list of units suitableat Advanced Diploma level
• of the 3 elective units, 1 unit may be selected from other endorsed Training Packagesin accordance with other packaging guidelines for this qualification
• the choice of electives should be appropriate to the level and integrity of thequalification and to the workplace outcomes it is designed to meet
• see Levels Chart for full list of units available in the FNS04 Financial Services TrainingPackage.
FNS50107 Diploma of Financial Services (INSURANCE BROKING)
To attain a Diploma of Financial Services (Insurance Broking) 12 units must beachieved:
• 4 industry core units (see note below), plus• 6 sectoral core units, plus
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
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Volume 1 of 3, Qualification 16 of 32 Page 242 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
• 2 elective units.
This is the industry qualification pathway for persons typically employed as accountexecutives or broking managers.
If ASIC accreditation as a financial product adviser in insurance broking is sought, the ASICcompetency unit FNSASIC503YB Provide advice in Insurance Broking will be required.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
Note: Several of the core units listed above are common to Certificate III and Certificate IVqualifications from the FNS04 Financial Services Training Package. Those who havepreviously gained a Certificate III or Certificate IV will have had all or some of these unitsassessed. If these core units have not been previously assessed they will need to bedemonstrated prior to the awarding of a Diploma qualification.
SECTORAL CORE UNITS
Achieve 6 of the following sectoral core units:
FNSINBK501B Prepare a new business submission for a broking client
FNSINBK502B Monitor broking clients
FNSINBK503B Implement changes to broking client's insurance program
FNSINBK504B Identify and advise on significant risk changes to broking client insurances
FNSINBK505B Assess and negotiate complex risk portfolio for broker client at renewal
FNSINBK506B Review incidence of loss for broking clients
FNSINBK507B Meet compliance requirements relating to insurance broking
FNSINBK508B Negotiate complex claims settlement for insurance broking client
NOTE: When selecting units from above please note that:
• FNSICGEN501B and FNSICGEN403B must be assessed in conjunction with, or priorto, FNSINBK501B
• FNSICCUS301B and FNSICGEN403B are prerequisite units to FNSINBK502B• FNSICCUS301B is a prerequisite unit to FNSINBK503B• FNSINBK503B and FNSICCUS301B are prerequisite units to FNSINBK504B• FNSINBK301B is a prerequisite unit to FNSINBK505B• FNSGEN404B is a prerequisite unit to FNSINBK506B• FNSGEN404B is a possible core sector unit from the Certificate IV in Insurance
Services.
ELECTIVE UNITS
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Volume 1 of 3, Qualification 16 of 32 Page 243 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Achieve at least 2 elective units. The 2 elective units may be selected as follows:
• both elective units may be selected from the list of units suitable at Diploma level• both elective units may be selected from the list of units suitable at Advanced Diploma
level• of the 2 elective units, 1 unit may be selected from other endorsed Training Packages
in accordance with other packaging guidelines for this qualification• the choice of electives should be appropriate to the level and integrity of the
qualification and to the workplace outcomes it is designed to meet• the remaining sectoral core units may be included as elective units• industry recommends choosing the elective listed below• see Levels Chart for full list of units available in the FNS04 Financial Services Training
Package.
INDUSTRY RECOMMENDED ELECTIVE UNIT
FNSASIC503YB Provide advice in Insurance Broking
NOTE: When selecting the above unit please note that the following prerequisite units apply:
• FBSINBK501B, FNSINBK502B, FNSINBK503B, and FNSINBK603B
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
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Volume 1 of 3, Qualification 16 of 32 Page 244 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Diploma of Financial Services:
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • building trust and a rapport with clients
• developing and writing reports to specifications• interpreting client requirements and tailoring products to
meet their needs• preparing and presenting correspondence in appropriate
electronic format• using effective telephone techniques and having the ability
to negotiate solutions with clients and colleagues• using excellent customer service skills and maintaining an
on-going relationship with clients
Teamwork • coaching and mentoring staff to reach minimum customerservice standards
• contributing to team cohesion and developing team plans• managing workplace relationships including counseling staff
as required• monitoring performance and conducting performance
appraisals• negotiating and agreeing with staff on performance
standards• providing feedback, support and encouragement to team
members
Problem solving • checking the accuracy of calculations• collecting, comparing and contrasting data• comparing products and services in order to offer clients
different options• determining the viability of new opportunities• resolving poor performance issues within scope of
responsibility• identifying OHS hazards and risk control• using problem solving tools and techniques• working proactively with management to resolve workplace
issues
Initiative and enterprise • applying referral skills• applying the learning of ergonomics to develop improved
processes• building and implementing reward and recognition strategies
for customer loyalty
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
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• continually reviewing and applying emerging industry trendsto product and services knowledge
• exploiting business opportunities• identifying and investigating risk as it relates to new
business
Planning and organising • contributing to the planning process by researching andvalidating information
• maintaining systems, records and reporting procedures• planning for the business including establishing KPIs and
monitoring staff performance• planning work considering resources, time and other
constraints• using organisational skills to locate information on statutory
and legislative requirements
Self management • acting as a role model for others• taking to management, concerns with own level of
responsibility• understanding and acting upon compliance matters• working ethically and complying with all industry Codes of
Practice and legislative requirements
Learning • developing and monitoring an organisational training planand individual training plans
• encouraging continuous education and professionaldevelopment
• facilitating internal and external training• identifying and documenting training needs for ongoing
compliance• seeking specialist financial advice on behalf of clients as
required
Technology • conducting web searches and using corporate templates• operating computers and using word processing,
spreadsheet and database skills to produce workplacedocumentation
• using business technology to access, organise and monitorinformation
• using research data devices and telecommunication devicesand equipment
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
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FNS50204 Diploma of AccountingTo attain a Diploma of Accounting 17 units must be achieved:
• 4 industry core units (see note below), plus• 5 prerequisite units common to Certificate III in Financial Services (Accounts Clerical),
plus• 5 sectoral core units, plus• 3 elective units.
This qualification is designed to reflect the role of employees working in accounting whoperform duties such as:
• introducing and maintaining accounting systems• maintaining internal control systems• preparing financial statements for a reporting entity• preparing tax returns• reporting on business performance• managing small teams• developing business plans• preparing management accounting reports.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
Note: Several of the core units are common to Certificate III and Certificate IV qualificationsfrom the FNS04 Financial Services Training Package. Those who have previously gained aCertificate III or Certificate IV will have had all or some of these units assessed. If these coreunits have not been previously assessed they will need to be demonstrated prior to theawarding of a Diploma qualification.
PREREQUISITE UNITS
Achieve the following 5 prerequisite units:
Competency in the following units, available as sectoral core and elective units from theCertificate III in Financial Services (Accounts Clerical) must be demonstrated prior toawarding of this qualification:
FNSICACC304B Prepare and bank receipts
FNSICACC306B Process journal entries
FNSACCT407B Set up and operate a computerised accounting system
BSBADM408A Prepare financial reports
BSBCMN308A Maintain financial records
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS50204 Diploma of Accounting
Volume 1 of 3, Qualification 17 of 32 Page 247 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
SECTORAL CORE UNITS
Achieve the following 5 sectoral core units:
FNSACCT502B Prepare income tax returns
FNSACCT503B Manage budgets and forecasts
FNSACCT504B Prepare financial reports for a reporting entity
FNSACCT506B Implement and maintain internal control procedures
FNSACCT507B Provide management accounting information
ELECTIVE UNITS
Achieve at least 3 elective units. The 3 elective units may be selected as follows:
• all 3 units may be selected from the list of units suitable at the Diploma level• of the 3 elective units, 1 unit from the list below must be included• of the 3 elective units, up to 2 units may be selected from the list of units suitable at the
Certificate IV level and up to 2 units may be selected from the list of units suitable atAdvanced Diploma level
• of the 3 elective units, 2 units may be selected from other endorsed Training Packagesin accordance with other packaging guidelines for this qualification
• the choice of electives should be appropriate to the level and integrity of thequalification and to the workplace outcomes it is designed to meet
• the units listed below are suggested as suitable electives• see Levels Chart for full list of units available in the FNS04 Financial Services Training
Package
SUGGESTED ELECTIVE UNITS
FNSACCT501B Provide financial and business performance information
FNSACCT505B Establish and maintain accounting information systems
FNSACCT607B Evaluate business performance
FNSICACC401B Evaluate and authorise payment requests
FNSICORG509B Maintain integrity of financial systems
FNSICORG510B Manage own professional development
FNSICORG516B Prepare financial reports to meet statutory requirements
FNSICORG517B Prepare financial forecasts and projections
FNSICORG608B Control a budget
FNSICORG609B Development and manage financial systems
NOTE: When selecting units from above please note that:
• FNSACCT503B is a prerequisite unit to FNSACCT607B• FNSRETA309B, FNSRETA310B, FNSICORG301B and FNSICACC301B are
prerequisite units to FNSICORG509B.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS50204 Diploma of Accounting
Volume 1 of 3, Qualification 17 of 32 Page 248 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Diploma of Accounting:
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • compiling data and preparing financial statements and ad
hoc reports• developing and writing reports to specifications• discussing and negotiating with stakeholders on matters
relating to financial management• liaising, listening and consulting• using effective telephone techniques and have the ability to
negotiate resolutions with clients and colleagues• preparing and presenting correspondence in appropriate
electronic format
Teamwork • contributing and working with others to implement policiesand procedures
• referring matters to nominated person as required
Problem solving • applying estimating, forecasting and analysis skills• conducting variance and cost benefit analyses• determining security protocols• developing financial performance indicators and security
arrangements to ensure the integrity of the system• establishing and reviewing assumptions/parameters• identifying financial risks• identifying OHS hazards and exercising risk control• solving discrepancies
Initiative and enterprise • applying learning about ergonomic activities to developimproved processes
• applying referral skills• designing reports to effectively present workplace
information• identifying trends in the industry• referring non-routine problems to a nominated person• researching the feasibility of workplace opportunities
Planning and organising • establishing and maintaining an accounting system• establishing, monitoring and reviewing reporting systems• maintaining accounting records for compliance purposes• maintaining systems, records and reporting procedures• preparing, documenting and managing budgets and
forecasts
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS50204 Diploma of Accounting
Volume 1 of 3, Qualification 17 of 32 Page 249 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
• preparing taxation returns• researching and managing data collection and testing• setting milestones and performance indicators• timetabling, scheduling reports and lodgements
Self management • adapting to change in technology and work practices• defining own work role and understanding limits of
responsibility• developing internal control procedures for corporate
governance• identifying and acting upon professional development
opportunities• understanding and acting upon compliance requirements• working ethically and complying with industry Professional
Code of Practice and legislative requirements
Learning • developing and maintaining personal competence• following workplace safety procedures• maintaining currency of knowledge of relevant legislation
and Codes of Practice• using online help for self learning purposes
Technology • adapting to change in technology and working withinergonomic guidelines
• using technology to assist the management of informationand to establish and operate systems
• using word processing, spreadsheet and database skills toproduce workplace documents and reports
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS50204 Diploma of Accounting
Volume 1 of 3, Qualification 17 of 32 Page 250 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
FNS50504 Diploma of Financial Services (Finance/MortgageBroking Management)To attain a Diploma of Financial Services (Finance/Mortgage Broking Management) 16units must be achieved
• 4 industry core units, plus• 4 prerequisite units common to Certificate IV in Financial Services (Finance/Mortgage
Broking), plus• 5 sectoral core units, plus• 3 elective units.
This qualification is designed to reflect the role of employees working in finance andmortgage broking, including those who are independent and work through an aggregator, orwho need to manage a workplace team. In addition to undertaking duties as described in theFNS40804 Certificate IV in Financial Services (Finance/Mortgage Broking), they may alsoperform duties such as:
• recommend loan combinations which meet clients' needs• assess prospective borrowers' eligibility to obtain finance and their capacity to service
debt• operate and build their own independent business• broker complex and/commercial leases and equipment finance, commercial finance,
project finance and finance for property developers• act as licensees.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
Note: Several of the core units listed above are common to Certificate III and Certificate IVqualifications from the FNS04 Financial Services Training Package. Those who havepreviously gained a Certificate III or Certificate IV will have had all or some of these unitsassessed. If these core units have not been previously assessed they will need to bedemonstrated prior to awarding of a Diploma qualification.
PREREQUISITE UNITS
Achieve the following 4 prerequisite units:
Competency in the following core sectoral units from the Certificate IV in Financial Services(Finance/Mortgage Broking) must be demonstrated prior to awarding of this qualification:
FNSCOMP501B Comply with financial services legislation, industry and professional codesof practice
FNSFBRK401B Prepare/present loan application on behalf of finance or mortgage brokingclient
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
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Volume 1 of 3, Qualification 18 of 32 Page 251 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
FNSFBRK402B Provide finance/mortgage broking services
FNSFBRK403B Present broking options to client
SECTORAL CORE UNITS
Achieve the following 5 sectoral core units:
FNSFBRK502B Identify and develop complex broking options for client
FNSFBRK503B Present broking options to client with complex needs
FNSFBRK504B Implement complex loan structures
FNSRISK501B Undertake risk identification
FNSRISK502B Assess risks
ELECTIVE UNITS
Achieve at least 3 elective units. The 3 elective units may be selected as follows:
• all 3 elective units may be selected from the list of units suitable at Diploma level• of the 3 elective units, up to 2 elective units may be selected from the list of units
suitable at Certificate IV level and up to 2 electives may be selected from the list ofunits suitable at Advanced Diploma level
• of the 3 elective units, 2 units may be selected from other endorsed Training Packagesin accordance with other packaging guidelines for this qualification
• the units listed below are suggested as suitable electives• see Levels Chart for full list of units available in the FNS04 Financial Services Training
Package.
SUGGESTED ELECTIVE UNITS
FNSFBRK404B Manage self in finance and/or mortgage broking industry
FNSFBRK501B Settle application and loan arrangements in the finance/mortgage brokingindustry
FNSRISK602B Determine and manage risk exposure strategies
FNSICORG503B Develop an operational plan
FNSICORG504B Implement an operational plan
FNSICORG505B Manage staff performance to achieve strategic targets
FNSICORG506B Develop and monitor policy and procedures
FNSICORG515B Provide mentoring and coaching within the workplace
FNSICORG604B Provide leadership and motivation in a workplace team
FNSPRAC501B Manage and maintain small/medium business operations
FNSPRAC601B Establish, supervise and monitor practice systems to conform withlegislation and regulations
FNSPRAC602B Improve the practice
FNSPRAC603B Grow the practice
FNSICCUS501B Develop and nurture relationships with clients, other professionals and third
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS50504 Diploma of Financial Services (Finance/Mortgage Broking Management)
Volume 1 of 3, Qualification 18 of 32 Page 252 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
party referrers
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS50504 Diploma of Financial Services (Finance/Mortgage Broking Management)
Volume 1 of 3, Qualification 18 of 32 Page 253 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Diploma of Financial Services (Finance/Mortgage BrokingManagement):
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • building trust and a rapport with clients
• developing and writing reports to specifications• documenting clients' complex or special needs to protect
interests of clients and broker• interpreting client requirements and tailoring products to
meet their needs• preparing and presenting correspondence in appropriate
electronic format• presenting complex information to the client• questioning, listening and clarifying clients' requirements• using effective telephone techniques and having the ability
to negotiate solutions with clients and colleagues• using excellent customer service skills and maintaining an
on-going relationship with clients• using excellent interpersonal skills to meet a client's
personal needs
Teamwork • conducting performance appraisals• consulting other financial services professionals as required• coordinating actions with other professionals• making constructive contributions to group decision making
processes• managing the process of monitoring and reviewing team
performance• providing feedback, support and encouragement to team
members
Problem solving • checking the accuracy of calculations• conducting trend and risk analyses including product
modelling• determining security protocols• identifying and resolving inconsistencies in information• identifying OHS hazards and risk control• planning for contingencies and using problem solving
techniques to resolve workplace issues• testing strategic assumptions• undertaking risk identification, evaluating risk controls and
conducting probability assessments
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS50504 Diploma of Financial Services (Finance/Mortgage Broking Management)
Volume 1 of 3, Qualification 18 of 32 Page 254 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Initiative and enterprise • analysing, modeling, prioritising and measuring risk loanstructures/options
• aligning customer characteristics to ' best product'• continuously reviewing and applying emerging industry
trends to product and service knowledge• generating a range of options for clients to consider
Planning and organising • coordinating people, resources and or equipment to achieveoptimum results
• creating action plans for complex loans to meet timelinesand priorities
• establishing and maintaining records• undertaking research and developing complex solutions
Self management • acting as a role model for others• managing own time and priorities and dealing with
contingencies• planning one's work schedule and monitoring and
evaluating own work performance• understanding own work role and working within it• working ethically and complying with all industry Codes of
Practice and legislative requirements
Learning • adapting to change in technology and/or work practices• developing and maintaining personal competence• following workplace safety procedures• identifying and encouraging opportunities for professional
development• seeking assistance and expert advice on behalf of clients
Technology • applying technology through the utilisation and application ofcomputers, organisational software, organisationaltemplates and telecommunication devices
• conducting web searches to research information• using business technology to access, organise and monitor
information
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS50504 Diploma of Financial Services (Finance/Mortgage Broking Management)
Volume 1 of 3, Qualification 18 of 32 Page 255 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
FNS50604 Diploma of Financial Services (Conveyancing)To attain a Diploma of Financial Services (Conveyancing) 12 units must be achieved:
• 4 industry core units, plus• 6 sectoral core units, plus• 2 elective units.
INDUSTRY CORE UNITS
Achieve the 4 industry core units listed below:
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
Note: Several of the core units listed above are common to Certificate III and Certificate IVqualifications from the FNS04 Financial Services Training Package. Those who havepreviously gained a Certificate III or Certificate IV will have had all or some of these unitsassessed. If these core units have not been previously assessed they will need to bedemonstrated prior to awarding of a Diploma qualification.
This is the industry pathway for persons typically engaged in providing conveyancingfunctions.
SECTORAL CORE UNITS
Achieve the 6 sectoral core units listed below:
FNSCONV501B Take instructions in relation to a transaction
FNSCONV502B Prepare and/or analyse and execute documents
FNSCONV503B Establish, manage and administer trust accounts
FNSCONV504B Finalise conveyancing transactions
FNSICORG510B Manage own professional development
FNSICCUS501B Develop and nurture relationships with clients, other professionals and thirdparty referrers
NOTE: When selecting units from above please note that:
• FNSCONV502B is a prerequisite unit to FNSCONV504B.
ELECTIVE UNITS
S elect at least 2 elective units. The 2 elective units may be selected as follows:
• all 2 elective units may be selected from the list of units suitable at Diploma level• all 2 elective units may be selected from the list of units suitable at Certificate IV level or
Advanced Diploma level• a maximum of 1 elective unit may be selected from other endorsed Training Packages
in accordance with other packaging guidelines for this qualification• the choice of electives should be appropriate to the level and integrity of the
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS50604 Diploma of Financial Services (Conveyancing)
Volume 1 of 3, Qualification 19 of 32 Page 256 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
qualification and to the workplace outcomes it is designed to meet• the units listed below are suggested as suitable electives• see Levels Chart for full list of units available in the FNS04 Financial Services Training
Package
suggested ELECTIVE UNITS
FNSICORG505B Manage staff performance to achieve strategic targets
FNSICORG511B Manage the staff training function
FNSICORG602B Recruit, select and induct staff
FNSICORG604B Provide leadership and motivation in a workplace team
FNSICORG606B Manage flow of information
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS50604 Diploma of Financial Services (Conveyancing)
Volume 1 of 3, Qualification 19 of 32 Page 257 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Diploma of Financial Services (Conveyancing):
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • accessing professional networks
• developing a rapport with clients• developing and writing reports to specifications• liaising, consulting and negotiating solutions with a range of
people• preparing, analysing and executing documents• questioning, listening and clarifying clients' requirements• using effective telephone techniques and having the ability
to negotiate solutions with clients and colleagues
Teamwork • contributing to team cohesion• developing and maintaining professional networks• making constructive contributions to group decision making
processes• providing feedback, support and encouragement to team
members• receiving feedback on own performance• referring to other professionals as required
Problem solving • collecting, comparing and contrasting data• determining contingency strategies and options• ensuring audit and security arrangements are in place to
protect client's interests• using analytical, evaluative and deductive reasoning• using problem solving tools and techniques
Initiative and enterprise • creatively presenting information and advice to clients• finding and securing new business relationships• identifying new and emerging opportunities for the business
and developing strategies to capitalise on them• implementing continuous improvement practices• setting goals in respect to client follow ups
Planning and organising • developing and implementing policies and procedures inrespect to trust accounts
• developing and maintaining systems, records and reportingprocedures
• processing documents, maintaining files, managinginformation and scheduling and coordinating competingtasks
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
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• using organisational skills to locate information on statutoryand legislative requirements
Self management • acting as a role model for others• asking for and responding to feedback on performance• 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• planning own work schedule and monitoring and evaluating
own work performance• presenting a positive organisational image• understanding and acting upon compliance requirements• working ethically and complying with all industry Codes of
Practice and legislative requirements
Learning • contributing to the learning of others through implementingteam building exercises
• developing and maintaining personal competence• developing and monitoring individual training plans• encouraging continuous education and professional
development• following workplace safety procedures• identifying and documenting training needs• identifying opportunities for professional development• improving professional practice of oneself and others• maintaining currency of knowledge of legislation and
industry Codes of Practice• setting career goals
Technology • operating computers and using word processing,spreadsheet and database skills to produce workplacedocumentation
• reviewing and evaluating financial and IT systems forcompliance with trust account requirements
• using business technology to access, organise and monitorinformation
• using custom made software to track clients and otherpersons
• using research data devices and telecommunication devicesand equipment
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS50604 Diploma of Financial Services (Conveyancing)
Volume 1 of 3, Qualification 19 of 32 Page 259 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
FNS50704 Diploma of Financial Services (Personal Trustees)To attain a Diploma of Financial Services (Personal Trustees) 12 units must beachieved:
• 4 industry core units, plus• 4 sectoral core units, plus• 4 elective units.
This qualification is designed to reflect the role of employees working in personal trusteeorganisations who perform duties such as:
• advising clients on estates and trust structures• acting as a financial administrator under a Guardianship Order• supervising and managing teams or staff• delegating work and responsibilities as needed• working on more complex types of financial pans as related to the personal trustees
sector.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
Note: Several of the core units listed above are common to Certificate III and Certificate IVqualifications from the FNS04 Financial Services Training Package. Those who havepreviously gained a Certificate III or Certificate IV will have had all or some of these unitsassessed. If these core units have not been previously assessed they will need to bedemonstrated prior to awarding of a Diploma qualification.
SECTORAL CORE UNITS
Achieve the following 4 sectoral core units:
FNSPERT501B Advise clients on trust structures
FNSPERT502B Advise clients in estate planning
FNSPERT503B Allocate, assess and supervise work within the personal trustee sector
FNSICCUS502B Monitor client requirements
ELECTIVE UNITS
Select at least 4 elective units. The 4 elective units may be selected as follows:
• all 4 elective units may be selected from the list of units suitable at the Diploma level• a maximum of 2 elective units may be selected from the list of units suitable at
Certificate IV level and a maximum of 1 elective unit may be selected from the list ofunits suitable at Advanced Diploma level
• a maximum of 2 elective units may be selected from other endorsed Training Packages
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS50704 Diploma of Financial Services (Personal Trustees)
Volume 1 of 3, Qualification 20 of 32 Page 260 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
in accordance with other packaging guidelines for this qualification• the choice of electives should be appropriate to the level and integrity of the
qualification and to the workplace outcomes it is designed to meet• the units listed below are suggested as suitable electives• see Levels Chart for full list of units available in the FNS04 Financial Services Training
Package
SUGGESTED ELECTIVE UNITS
FNSICORG505B Manage staff performance to achieve strategic targets
FNSICORG515B Provide mentoring and coaching in the workplace
FNSICORG604B Provide leadership and motivation in a workplace team
FNSICSAM503B Develop a marketing plan
FNSFPLN506B Meet with client to determine client requirements and expectations
BSALO501A Perform legal research and prepare reports to meet identified needs
BSALPP502A Draft legally binding documents
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS50704 Diploma of Financial Services (Personal Trustees)
Volume 1 of 3, Qualification 20 of 32 Page 261 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Diploma of Financial Services (Personal Trustees):
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • determining, monitoring and reviewing clients' requirements
• developing a rapport with clients• presenting complex information to the client• providing on-going service and management of client's
requirements• questioning, clarifying and evaluating information• using excellent interpersonal, telephone and written skills• using interpersonal skills to meet a client's personal needs
Teamwork • coaching and mentoring staff to reach minimumorganisational standards
• contributing to team cohesion and developing team plans• managing workplace relationships including counseling staff
as required• providing feedback, support and encouragement to team
members• working with diverse groups and individuals
Problem solving • analysing and synthesising information and determininglevels of insurance and risk
• applying analytical skills to interpret complex financialstatements and to calculate fees and charges
• collecting, comparing and contrasting data• determining appropriate strategies for implementing clients'
instructions• exploring risk issues and tolerance levels with clients• identifying clients with special needs• identifying risk and fraud indicators• interpreting company policy• matching appropriate products to clients' needs• monitoring the business environment to ensure clients'
needs are still being met• surveying potential risk exposure• using problem solving tools and techniques
Initiative and enterprise • determining appropriate strategies for implementing clients'instructions
• identifying clients with special needs• matching appropriate products to clients' needs• monitoring the business environment to ensure clients'
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needs are still being met
Planning and organising • conducting high level research/investigation• contributing to the planning process by researching and
validating information• preparing and documenting trust deed and estate plans• processing documents and maintaining files; managing
information and scheduling and coordinating competingtasks
Self management • managing own time, priorities and dealing withcontingencies
• operating within Codes of Ethics, Codes of ProfessionalConduct, legislation and regulations
• taking responsibility as required by work role and ensuringall organisational polices and procedures are followed
Learning • applying learning to develop improved practices• coaching and mentoring others to acquire new knowledge
and skills• developing and monitoring individual training plans• identifying and documenting staff training needs• maintaining currency of knowledge of legislation and
company's products and services• referring clients to internal and external professionals
Technology • conducting web searches and using corporate templates• operating computers and using word processing,
spreadsheet and database skills to produce workplacedocumentation
• using business technology to access, organise and monitorinformation
• using research data devices and telecommunication devicesand equipment
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS50704 Diploma of Financial Services (Personal Trustees)
Volume 1 of 3, Qualification 20 of 32 Page 263 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
FNS50804 Diploma of Financial Services (Financial Planning)To attain a Diploma of Financial Services (Financial Planning) 12 units must beachieved:
• 4 industry core units, plus• 4 sectoral core units, plus• 4 elective units.
This is the industry recommended competency pathway for financial planners who provide arange of standard financial planning services and for individuals providing specialistpara-planning services. The qualification pathway is determined by elective choices.Depending on choice of electives, the qualification meets ASIC requirements for AuthorisedRepresentatives. Details on ASIC requirements are provided under elective units below.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
Note: Several of the core units listed above are common to Certificate III and Certificate IVqualifications from the FNS04 Financial Services Training Package. Those who havepreviously gained a Certificate III or Certificate IV will have had all or some of these unitsassessed. If these core units have not been previously assessed they will need to bedemonstrated prior to the awarding of a Diploma qualification.
SECTORAL CORE UNITS
Achieve the following 4 sectoral core units:
FNSFPLN501B Comply with financial planning practice ethical and operational guidelinesand regulations
FNSFPLN502B Conduct financial planning analysis and research
FNSFPLN503B Develop and prepare financial plan
FNSFPLN504B Implement financial plan
FNSFPLN505B Review financial plan and provide ongoing service
ELECTIVE UNITS
Achieve at least 4 elective units.
Electives must be selected as follows:
Financial planners must select elective units:
FNSFPLN506B Meet with client to determine client requirements and expectations
FNSFPLN507B Provide financial planning advice
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS50804 Diploma of Financial Services (Financial Planning)
Volume 1 of 3, Qualification 21 of 32 Page 264 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Para-planners must select elective unit:
FNSFPLN508B Conduct complex financial planning research
• a maximum of 2 elective units may be selected from the list of units suitable atCertificate IV level or Advanced Diploma level
• a maximum of 1 elective unit may be selected from other endorsed Training Packagesin accordance with other packaging guidelines for this qualification
• the choice of electives should be appropriate to the level and integrity of thequalification and to the workplace outcomes it is designed to meet
• the remaining sectoral core unit may be included as an elective unit• if ASIC compliance is sought for Authorised Representatives, the ASIC aligned unit
FNSASIC503ZB Provide advice in Financial Planning, must be selected• the units listed below are suggested as electives• see Levels Chart for full list of units available in the FNS04 Financial Services Training
Package.
SUGGESTED ELECTIVE UNITS
FNSFPLN506B Meet with client to determine client requirements and expectations
FNSFPLN507B Provide financial planning advice
FNSFPLN508B Conduct complex financial planning research
FNSASIC503BZB Provide advice in Financial Planning
FNSPRAC501B Manage and maintain small/medium business operations
FNSPRAC601B Establish, supervise and monitor practice systems to conform withlegislation and regulations
FNSPRAC602B Improve the practice
FNSPRAC603B Grow the practice
FNSICCUS501B Develop and nurture relationships with clients, other professionals and thirdparty referrers
FNSICCUS502B Monitor client requirements
FNSICCUS503B Review service performance
FNSICCUS504B Manage business customer relationships
FNSICCUS505B Manage premium customer relationships
NOTE: When selecting units from above please note that:
• FNSFPL501B, FNSFPLN502B, FNSFPLN503B, FNSFPLN504B and FNSFPLN505Bare prerequisite units to FNSASIC503ZB.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS50804 Diploma of Financial Services (Financial Planning)
Volume 1 of 3, Qualification 21 of 32 Page 265 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Diploma of Financial Services (Financial Planning):
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • assisting clients to identify financial goals and priorities and
assessing their current financial situation• developing and writing reports to specifications• interpreting clients' requirements and tailoring financial plan
to meet their needs• negotiating solutions with clients• questioning, listening and clarifying client's requirements• using excellent customer service skills and maintaining an
on-going relationship with clients
Teamwork • allocating personnel for on-going service tasks• delegating roles and responsibilities to team members• outsourcing tasks to internal and external specialists as
required
Problem solving • checking the accuracy of calculations for fees and charges• conducting trend and risk analysis including product
modelling• estimating, forecasting and conducting competitive
comparisons• identifying and resolving inconsistencies in information• identifying OHS hazards and maintaining risk control• performing calculations and developing a risk profile for
individual clients• testing strategic assumptions• using modeling tools to test assumptions against a variety of
scenarios
Initiative and enterprise • developing administrative processes to implement financialplans
• identifying ongoing service options for clients and confirmingthese with clients
• identifying risk and managing it• proactively anticipating customer requirements and
recommending products• researching alternative options for clients' needs
Planning and organising • ensuring the integrity of systems, records and reportingprocedures are maintained
• implementing financial plans according to agreed actions,
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time schedule and agreed priorities• undertaking research and developing solutions such as
financial plans
Self management • planning own work schedule and monitoring and evaluatingown work performance
• taking responsibility as required by work role and ensuringall organisational policies and procedures are followed
• understanding and acting upon compliance implications• working ethically and complying with industry Professional
Code of Practice and legislative requirements
Learning • adapting to change in technology and/or work practices• defining own work role and working within defined
responsibilities• developing and maintaining personal competence• following workplace safety procedures• identifying opportunities for professional development• maintaining currency of knowledge of financial products and
services• seeking expert advice as required
Technology • conducting web searches, using corporate templates andfinancial planning software
• operating computers and using word processing,spreadsheet and database skills to produce workplacedocumentation
• using business technology to access, organise and monitorinformation
• using research data devices and telecommunication devicesand equipment
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS50804 Diploma of Financial Services (Financial Planning)
Volume 1 of 3, Qualification 21 of 32 Page 267 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
FNS50904 Diploma of Financial Services (Superannuation)To attain a Diploma of Financial Services (Superannuation) 12 units must be achieved:
• 4 industry core units, plus• 4 sectoral core units, plus• 4 elective units.
There are five recommended pathway options for people working across the superannuationindustry at the Diploma level, including working within superannuation or funds managementcompanies or as superannuation specialists in the customer marketplace. These options areoutlined in the following ' Recommended Diploma of Financial Services (Superannuation)Pathway Options' table. Individuals would likely have supervisory or technical responsibilityfor their work area, department or specialisation.
If ASIC Tier 1 compliance is required, suggested pathway option 4 must be selected.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
Note: Several of the core units listed above are common to Certificate III and Certificate IVqualifications from the FNS04 Financial Services Training Package. Those who havepreviously gained a Certificate III or Certificate IV will have had all or some of these unitsassessed. If these core units have not been previously assessed they will need to bedemonstrated prior to awarding of a Diploma qualification.
SECTORAL CORE UNITS
Achieve the following 4 sectoral core units:
FNSSUPR501B Supervise complaints procedures
FNSICORG513B Implement quality systems within work area
FNSICORG514B Supervise work within a Financial Services context
FNSCOMP602B Develop and implement compliance systems.
ELECTIVE UNITS
Achieve at least 4 elective units.
Electives must be selected as follows:
• recommended pathway options are outlined below.• all 4 elective units may be selected from the list of units suitable at Diploma level• at least 3 of the 4 elective units must be selected from the Superannuation stream (i.e.
coded FNSSUPR)• a maximum of 1 elective unit may be selected from the list of units suitable at Certificate
IV level
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
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• a maximum of 1 elective unit may be selected from other Training Packages at theDiploma level
• the units listed below are suggested as electives• see Levels Chart for full list of units available in the FNS04 Financial Services Training
Package.
SUGGESTED ELECTIVE UNITS
FNSSUPR403B Work within a defined benefit fund
FNSSUPR502B Supervise insurer liaison
FNSSUPR503B Develop client relationship with employers and establish superannuationsystems
FNSSUPR504B Provide advanced customer service to superannuation clients
FNSSUPR505B Produce reports for superannuation
FNSSUPR506B Supervise and monitor operational guidelines in a superannuationorganisation
FNSASIC503UB Provide advice in Superannuation *
FNSICSAM504B Implement, monitor and evaluate a marketing plan
FNSICSAM402B Implement a sales plan
FNSICORG507B Develop a resource plan
FNSICORG508B Manage a project
FNSICORG511B Manage the staff training function
FNSICORG512B Act as formal complaints officer
FNSICORG604B Provide leadership and motivation in a workplace team
FNSICORG613B Establish outsourced services and monitor performance
FNSICCUS501B Develop and nurture relationships with clients, other professionals and thirdparty referrers
FNSICGEN501B Produce research reports and make presentations
BSBFLM409B Implement continuous improvement
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS50904 Diploma of Financial Services (Superannuation)
Volume 1 of 3, Qualification 22 of 32 Page 269 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Diploma of Financial Services (Superannuation):
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • building trust and a rapport with clients
• conducting research to collect and analyse information andpresenting it in report form
• developing communication systems for ensuring compliancewith organisation's policies and procedures
• interpreting client requirements and tailoring products tomeet their needs
• managing unresolved disputes, consulting staff andestablishing relationships with government informationsources
• questioning, clarifying and evaluating information• using excellent customer service skills and maintaining an
on-going relationship with clients
Teamwork • monitoring and supporting internal complaints procedures• seeking feedback from clients on service levels and making
referrals to specialists as required• supervising work practices and distributing research findings
to relevant parties for feedback• supporting staff to implement systems
Problem solving • analysing and synthesising information and determininglevels of risk
• collecting, comparing and contrasting data• interpreting company policy• resolving customer complaints• surveying potential risk exposure• using dispute resolution techniques• using online help to solve problems with systems• using problem solving tools and techniques
Initiative and enterprise • aligning customer characteristics to the 'best product'• continually reviewing and applying emerging industry trends
to product and service knowledge• determining appropriate strategies for implementing clients'
instructions• generating a range of options for clients to consider• identifying clients with special needs• implementing continuous improvement practices• seeking specialist advice as required
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS50904 Diploma of Financial Services (Superannuation)
Volume 1 of 3, Qualification 22 of 32 Page 270 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Planning and organising • developing and maintaining systems, records and reportingprocedures
• ensuring the integrity of systems, records and reportingprocedures are maintained
• implementing internal monitoring/audit program to ensureongoing compliance
• undertaking research and developing complex solutions toaddress clients' needs
Self management • complying with legislation and all statutory requirements• managing own time and priorities and dealing with
contingencies• planning own work, predicting consequences and identifying
improvements• self directing application of knowledge• taking responsibility as required by work role and ensuring
all organisational polices and procedures are followed
Learning • adapting to change in technology and/or work practices• defining and understanding own work role's level of
responsibility• developing and maintaining personal competence• encouraging continuous education and professional
development• facilitating internal training to ensure staff have the
knowledge and skills to implement quality and compliancesystems
• identifying opportunities for professional development• knowing and following workplace safety procedures• maintaining knowledge of legislation, products and services
Technology • conducting web searches and using corporate templates• operating computers, 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
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS50904 Diploma of Financial Services (Superannuation)
Volume 1 of 3, Qualification 22 of 32 Page 271 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
FNS51004 Diploma of Financial Services (Financial Markets)To attain a Diploma of Financial Services (Financial Markets) 12 units must beachieved:
• 4 industry core units, plus• 5 sectoral core units, plus• 3 elective units.
This qualification is designed to reflect the role of employees working in financial marketswho perform duties in the areas of client advice and dealing room operations.
Individual pathways are offered to cater for each of these specific roles.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
Note: Several of the core units listed above are common to Certificate III and Certificate IVqualifications from the FNS04 Financial Services Training Package. Those who havepreviously gained a Certificate III or Certificate IV will have had all or some of these unitsassessed. If these core units have not been previously assessed they will need to bedemonstrated prior to awarding of a Diploma qualification.
SECTORAL CORE UNITS
Pathway 1 - Client Advisory Roles
Achieve the following 5 sectoral core units:
FNSFMKT501B Analyse financial markets and information
FNSFMKT502B Analyse financial market products for client
FNSFMKT503B Advise clients on financial risk
FNSICCUS506B Determine client requirements and expectations
FNSCOMP501B Comply with financial services legislation, industry and professional codesof practice
Pathway 2 - Dealing Room/Operational Roles
Achieve the following 5 sectoral core units:
FNSFMKT501B Analyse financial markets and information
FNSFMKT502B Analyse financial market products for client
FNSFMKT602B Trade financial products
FNSRISK602B Determine and manage risk exposure strategies
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
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FNSCOMP501B Comply with financial services legislation, industry and professional codesof practice
ELECTIVE UNITS
Achieve at least 3 elective units. The 3 elective units may be selected as follows:
• all 3 elective units may be selected from the list of units suitable at Diploma level• a maximum of 2 elective units may be selected from the list of units suitable at
Certificate IV level and/or Advanced Diploma level for Pathway 1• a maximum of 2 elective units may be selected from the list of units suitable at
Certificate IV level for Pathway 2• a maximum of 2 elective units may be selected from other endorsed Training Packages
in accordance with other packaging guidelines for this qualification• the choice of electives should be appropriate to the level and integrity of the
qualification and to the workplace outcomes it is designed to meet• industry recommends choosing the electives from the units listed below as indicated for
each Pathway• see Levels Chart for full list of units available in the FNS04 Financial Services Training
Package.
INDUSTRY RECOMMENDED ELECTIVE UNITS
FNSFMKT601B Price financial transactions
FNSFMKT602B Trade financial products
FNSASIC503VB Provide advice in Derivatives
FNSASIC503WB Provide advice in Securities
FNSRISK502B Assess risks
FNSICCUS504B Manage business customer relationships
NOTE: When selecting units from above please note that:
• FNSICCUS506B, FNSFMKT502B, FNSFMKT503B, and FNSICCUS507B areprerequisite units to both FNSASIC503VB and FNSASIC503WB.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS51004 Diploma of Financial Services (Financial Markets)
Volume 1 of 3, Qualification 23 of 32 Page 273 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Diploma of Financial Services (Financial Markets):
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • determining risk profile and negotiating with client on
policy/financial plan or transaction• establishing a positive working relationship with clients• identifying client's objectives, needs and financial situation• providing on-going service to clients• writing reports and using excellent interpersonal skills
Teamwork • seeking feedback from clients on service levels• supervising work practices and distributing research findings
to relevant parties for feedback• supporting staff to implement systems
Problem solving • analysing trends and risk including product modeling• applying estimating, forecasting and analysis skills• checking the accuracy of calculations• comparing products and services in order to offer clients
different options• preparing and interpreting complex financial statements and
performing complex financial calculations• researching using methods of analysis, testing, assessing
and evaluating data and information• surveying potential risk exposure
Initiative and enterprise • applying analytical skills to interpret complex financialstatements
• applying referral skills• exploring risk issues and tolerance levels with clients• identifying risk changes• monitoring context of product market developments and
industry trends• monitoring the business environment to ensure clients'
needs are still being met• proactively anticipating customer requirements and
recommending products
Planning and organising • contributing to the planning process by researching andvalidating information
• developing and maintaining systems, records and reportingprocedures
• ensuring the integrity of systems, records and reporting
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procedures are maintained• implementing internal monitoring/audit program to ensure
ongoing compliance
Self management • acting as a role model for others• defining and understanding own work role• managing own time and priorities and dealing with
contingencies• working ethically and complying with all industry Codes of
Practice and legislative requirements
Learning • adapting to change in technology and/or work practices• applying learning to develop improved practices• coaching and mentoring others to acquire new knowledge
and skills• contributing to the learning of others through implementing
team building exercises• defining own work role and working within level of
responsibility• developing and maintaining personal competence• developing and maintaining professional competence• identifying opportunities for professional development• making referrals to specialists as required
Technology • conducting web searches and using corporate templates• operating computers and using word processing,
spreadsheet and database skills to produce workplacedocumentation
• using business technology to access, organise and monitorinformation
• using research data devices and telecommunication devicesand equipment
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS51004 Diploma of Financial Services (Financial Markets)
Volume 1 of 3, Qualification 23 of 32 Page 275 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
FNS51104 Diploma of Financial Risk ManagementTo attain a Diploma of Financial Risk Management 12 units must be achieved:
• 4 industry core units, plus• 4 sectoral core units, plus• 4 elective units.
The Diploma of Financial Risk Management provides a cross-industry qualification. Specialistrisk management activities associated with particular markets in financial services (e.g.insurance broking, insurance services, financial markets, risk consulting) could beincorporated into this qualification.
Sectoral customisation can be achieved through identification and inclusion of sectoral riskunits as electives and contextualisation of the sectoral core units.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
Note: Several of the core units listed above are common to Certificate III and Certificate IVqualifications from the FNS04 Financial Services Training Package. Those who havepreviously gained a Certificate III or Certificate IV will have had all or some of these unitsassessed. If these core units have not been previously assessed they will need to bedemonstrated prior to awarding of a Diploma qualification.
SECTORAL CORE UNITS
Achieve the following 4 sectoral core units:
FNSRISK501B Undertake risk identification
FNSRISK502B Assess risks
FNSRISK601B Develop and implement risk mitigation plan
FNSRISK602B Determine and manage risk exposure strategies
ELECTIVE UNITS
Select at least 4 elective units. The 4 elective units may be selected as follows:
• all 4 elective units may be selected from the list of units suitable at Diploma level• a maximum of 2 elective units may be selected from the list of units suitable at
Certificate IV level• a maximum of 2 elective units may be selected from other endorsed Training Packages
in accordance with other packaging guidelines for this qualification• the choice of electives should be appropriate to the level and integrity of the
qualification and to the workplace outcomes it is designed to meet• the units listed below are suggested as suitable electives• see Levels Chart for full list of units available in the FNS04 Financial Services Training
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
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Volume 1 of 3, Qualification 24 of 32 Page 276 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Package.
SUGGESTED ELECTIVE UNITS
FNSACCT506B Implement and maintain internal control procedures
FNSICGEN502B Solve workplace problems
FNSICORG506B Develop and monitor policy and procedures
FNSICORG508B Manage a project
FNSICORG513B Implement quality systems within work area
FNSICCOMP501B Comply with financial services, legislation, industry and professionalcodes of practice
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
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Volume 1 of 3, Qualification 24 of 32 Page 277 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Diploma of Financial Risk Management:
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • conducting research to collect and analyse information and
presenting it in report form• consulting with stakeholders on risk management policies
and procedures• developing and writing reports to specifications• preparing and presenting correspondence in appropriate
electronic format• questioning, clarifying and evaluating information• using effective telephone techniques and having the ability
to negotiate solutions with clients and colleagues
Teamwork • monitoring and working with staff to implement policies andprocedures
• supervising work practices and adapting to change intechnical and work practices
• supporting staff to implement systems and making referralsto external specialists as required
Problem solving • aligning requirements of the system with the needs of users• analysing and synthesising information and determining
levels of risk• collecting, analysing, comparing and contrasting data• comparing risk exposure levels with industry and statutory
obligations• identifying and resolving inconsistencies• performing cost benefit analyses, budgeting, assessing and
managing risk• providing strategies on how to address non compliances• solving problems in respect to risk and knowledge
management systems• testing strategic assumptions and applying different risk
treatment strategies
Initiative and enterprise • applying referral skills and implementing continuousimprovement practices
• identifying and investigating risk as it relates to newbusiness
• identifying improvements to work design and organisation• reviewing processes to inform future activity
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
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Volume 1 of 3, Qualification 24 of 32 Page 278 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Planning and organising • contributing to the planning process by researching andvalidating information
• monitoring policy against KPIs• researching, developing, trialing, implementing, monitoring
and reviewing policies and procedures and risk strategies
Self management • acting as a role model for others• applying time management strategies to own work schedule• planning own work schedule and monitoring and evaluating
own work performance• presenting a positive organisational image• taking responsibility as required by work role and ensuring
all organisational policies and procedures are followed• understanding and acting upon compliance requirements• working ethically and complying with all industry Codes of
Practice and legislative requirements
Learning • ensuring evidence of training undertaken to meetcompliance requirements is maintained
• evaluating and reviewing risk assessment strategies• facilitating internal training to ensure staff have the
knowledge and skills to implement quality and compliancesystems
• maintaining personal competence and identifyingprofessional development opportunities
Technology • conducting web searches and using corporate templates• operating computers and using word processing,
spreadsheet and database skills to produce workplacedocumentation
• using business technology to access, organise and monitorinformation
• using research data devices and telecommunication devicesand equipment
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS51104 Diploma of Financial Risk Management
Volume 1 of 3, Qualification 24 of 32 Page 279 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
FNS51204 Diploma of Financial Services (Banking)To attain a Diploma of Financial Services (Banking) 12 units must be achieved:
• 4 industry core units, plus• 3 sectoral core units, plus• 5 elective units.
This qualification is designed to reflect the role of employees working in banking or retailfinancial services environments with team and business result responsibilities including:
• branch environments• small business banking• commercial and retail lending.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
Note: Several of the core units listed above are common to Certificate III and Certificate IVqualifications from the FNS04 Financial Services Training Package. Those who havepreviously gained a Certificate III or Certificate IV will have had all or some of these unitsassessed. If these core units have not been previously assessed they will need to bedemonstrated prior to awarding of a Diploma qualification.
SECTORAL CORE UNITS
Achieve the following 3 sectoral core units:
FNSICORG604B Provide leadership and motivation in a workplace team
FNSICORG505B Manage staff performance to achieve strategic targets
FNSPRAC501B Manage and maintain small/medium business operations
ELECTIVE UNITS
Achieve at least 5 elective units. The 5 elective units may be selected as follows:
• a minimum of 3 electives units must be selected from the units listed below• the other 2 elective units may be selected from the list of units suitable at Diploma level• a maximum of 2 elective units may be selected from the list of units suitable at
Certificate IV level and 1 unit may be selected from the list of units suitable at AdvancedDiploma level
• a minimum of 2 elective units must be selected from the Banking and/or Credit/Lendingstream
• a maximum of 2 elective units may be selected from other endorsed Training Packagesin accordance with other packaging guidelines for this qualification.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS51204 Diploma of Financial Services (Banking)
Volume 1 of 3, Qualification 25 of 32 Page 280 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
SUGGESTED ELECTIVE UNITS
Select at least 3 of the following elective units:
FNSBANK402B Align banking products with the needs of small business customers
FNSBANK403B Provide services in a Rural Transaction Centre
FNSBANK501B Manage banking and service strategy for small business customers
FNSBANK502B Manage services in a Rural Transaction Centre
FNSBANK503B Provide business advisory services within a financial services context
FNSCRDT401B Evaluate credit applications
FNSCRDT402B Settle application and arrangements for debt finance
FNSCRDT403B Determine and establish appropriate securities to minimise risk
Select additional elective units as needed in line with the packaging guidelines above:
• industry recommends choosing from the units listed below• see Levels Chart for full list of units available in the FNS04 Financial Services Training
Package
INDUSTRY RECOMMENDED ELECTIVE UNITS
FNSICSAM502B Apply advanced selling techniques to selling of financial products andservices
FNSICCUS505B Manage premium customer relationships
FNSICORG507B Develop a resource plan
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS51204 Diploma of Financial Services (Banking)
Volume 1 of 3, Qualification 25 of 32 Page 281 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Diploma of Financial Services (Banking):
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • applying strong interpersonal and verbal skills i.e.
interviewing, counseling, negotiating and acting as anadvocate for the organisation
• developing a rapport with clients• documenting clients' complex or special needs to protect
interests of clients• fostering business relationships and providing a high level of
customer service and relationship management presentingcomplex information to the client in a simple manner
• questioning, clarifying and evaluating information
Teamwork • coaching and mentoring staff on reaching minimumcustomer service standards
• contributing to team cohesion• making constructive contributions to group decision making
processes• participating in the process of monitoring and reviewing
team performance• providing feedback, support and encouragement to team
members• monitoring performance and conducting performance
appraisals• negotiating and agreeing with staff on performance
standards
Problem solving • analysing business proposals and opportunities• analysing product applications and usage; conducting
segmentation analysis of small business market• using modeling tools to test assumptions against a variety of
scenarios
Initiative and enterprise • aligning customer characteristics to ' best product'• continually reviewing and applying emerging industry trends
to product and service knowledge• designing new products tailored to small business• developing, implementing and monitoring strategies for the
continuous improvement of small businessproducts/services
• developing innovative approaches to selling financialproducts and services
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
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• generating a range of options for clients to consider
Planning and organising • developing and maintaining systems, records and reportingprocedures
• ensuring the integrity of systems, records and reportingprocedures meet statutory requirements
• managing and maintaining small business operations• planning and implementing communication campaigns for
small business clients
Self management • managing own time and priorities and dealing withcontingencies
• taking responsibility as required by work role and ensuringall organisational polices and procedures are followed
• working ethically and complying with all industry Codes ofPractice and legislative requirements
Learning • adapting to change in technology and/or work practices• developing and maintaining personal competence• defining own work role and understanding level of
responsibility• identifying opportunities for professional development
Technology • operating computers and using word processing,spreadsheet and database skills to produce workplacedocumentation
• using business technology to access, organise and monitorinformation
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS51204 Diploma of Financial Services (Banking)
Volume 1 of 3, Qualification 25 of 32 Page 283 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
FNS51304 Diploma of Financial Services (Consumer Education)To attain a Diploma of Financial Services (Consumer Education) 12 units must beachieved:
• 4 industry core units, plus• 5 sectoral core units, plus• 3 elective units.
This qualification is designed to reflect the role of individuals providing education, clientinformation/ awareness in the area of financial literacy, financial counselling and creditsupport agencies.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
Note: Several of the core units listed above are common to Certificate III and Certificate IVqualifications from the FNS04 Financial Services Training Package. Those who havepreviously gained a Certificate III or Certificate IV will have had all or some of these unitsassessed. If these core units have not been previously assessed they will need to bedemonstrated prior to awarding of a Diploma qualification.
SECTORAL CORE UNITS
Achieve the following 5 sectoral core units:
FNSFLIT501B Assist customers to budget and manage own finances
FNSFLIT502B Facilitate customer awareness of the Australian financial system and markets
FNSFLIT503B Promote basic financial literacy skills
FNSFLIT504B Facilitate customer understanding of personal financial statements
FNSFLIT505B Facilitate customer or employee understanding of superannuation as aninvestment tool
ELECTIVE UNITS
Achieve at least 3 elective units. The 3 elective units may be selected as follows:
• all 3 elective units may be selected from the list of units suitable at Diploma level• a maximum of 2 elective units may be selected from the list of units suitable at
Certificate IV level and 2 units the list of units suitable at Advanced Diploma level• a maximum of 2 elective units may be selected from other endorsed Training Packages
in accordance with other packaging guidelines for this qualification• the choice of electives should be appropriate to the level and integrity of the
qualification and to the workplace outcomes it is designed to meet• the units listed below are suggested as suitable electives• see Levels Chart for full list of units available in the FNS04 Financial Services Training
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS51304 Diploma of Financial Services (Consumer Education)
Volume 1 of 3, Qualification 26 of 32 Page 284 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Package.
SUGGESTED ELECTIVE UNITS
FNSDMGT502B Assist clients to identify, address and monitor own financial situation
FNSICGEN404B Resolve disputes
FNSCRDT501B Assess personal and corporate insolvency
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS51304 Diploma of Financial Services (Consumer Education)
Volume 1 of 3, Qualification 26 of 32 Page 285 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Diploma of Financial Services (Consumer Education):
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • developing a rapport with clients
• developing and writing reports to specifications• possessing excellent presentation skills with an ability to
'read' verbal and non-verbal body language• preparing and presenting correspondence in appropriate
electronic format• using effective telephone techniques and having the ability
to negotiate solutions with clients and colleagues• using a range of techniques to elicit feedback from
customers• using interpersonal skills to meet a client's personal needs
Teamwork • seeking feedback from clients on service levels and makingreferrals to specialists as required
• supporting staff to implement systems• working and relating to diverse individuals and groups• working as a member of a team and applying knowledge of
one's own role to achieve team goals
Problem solving • analysing investment objectives and using techniques toanalyse funds' performances
• checking the accuracy of calculations• collecting, comparing and contrasting data• using analytical, evaluative and deductive reasoning• using problem solving tools and techniques
Initiative and enterprise • determining appropriate strategies to assist clients to bettermanage and improve their financial situation
• identifying clients with special needs
Planning and organising • ensuring the integrity of systems, records and reportingprocedures are maintained
• planning work considering resources, time and otherconstraints
• processing routine documents and maintaining files,managing information and scheduling and coordinatingcompeting tasks
Self management • ensuring all organisational policies and procedures arefollowed
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS51304 Diploma of Financial Services (Consumer Education)
Volume 1 of 3, Qualification 26 of 32 Page 286 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
• understanding own work role• working ethically and complying with industry Codes of
Practice and legislative requirements
Learning • adapting to change in technology and/or work practices• contributing to the learning of others• developing and maintaining personal competence• identifying opportunities for professional development
Technology • operating computers, using word processing, spreadsheetand database skills to produce workplace documentation
• using business technology to access, organise and monitorinformation
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS51304 Diploma of Financial Services (Consumer Education)
Volume 1 of 3, Qualification 26 of 32 Page 287 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
FNS51407 Diploma of Personal Injury Management (WorkersCompensation)To attain a FNS51407 Diploma of Personal Injury Management (WorkersCompensation) 12 units must be achieved:
• 4 core units, plus• 4 sectoral core units (chosen from either claims or underwriting units), plus• 4 elective units.
This qualification reflects the role of individuals who possess a sound theoretical knowledgebase and use a range of specialised, technical or managerial competencies to plan, carry outand evaluate the work of self and/or team.
This qualification is designed to reflect the role of employees working within the workerscompensation industry sector who perform duties as a specialist workers compensation casemanager, manage a team or deal with workers compensation claims with a high riskdetermination.
Job roles and titles vary across different industry sectors. Possible job titles relevant to thisqualification include:
• workers compensation case manager• workers compensation specialist.
Typical duties may include:
• managing complex claims that have a specified financial cost/risk• managing complex claims where time off work is required/high risk claims• managing claims that require ongoing monitoring• managing claims that require rehabilitation services• managing claims that require ongoing medical treatment• managing claims that may require re-skilling and developing return to work strategies• managing a team• calculating and analysing claims data in accordance with legislative requirements• managing the efficient operation of policies within several client portfolios• issuing contracts of insurance with third parties• conducting risk analysis in accordance with organisational guidelines• managing the renewal and risk identification of industry groups as required by
state/territory legislative requirements• providing management and leadership to team members• managing the work output of others.
Prerequisite Requirements
There are no prerequisite requirements for this qualification.
CORE UNITS
Achieve the following 4 core units:
FNSINSV509B Analyse financial, medical and psychological claim assessments
FNSRISK501B Undertake risk identification
FNSICORG514B Supervise work within a financial services industry
FNSICCUS503B Review service performance
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS51407 Diploma of Personal Injury Management (Workers Compensation)
Volume 1 of 3, Qualification 27 of 32 Page 288 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
SECTORAL CORE UNITS
Achieve 4 of the following industry sectoral core units (units may be selected fromeither one or both sectors as listed):
Claims units
FNSINSV506B Investigate claims
FNSWCMP501A Manage workers compensation caseloads
FNSWCMP502A Develop a return to work strategy
FNSWCMP503A Facilitate workplace assessment with stakeholders for workerscompensation cases
Underwriting units
FNSLOSS502B Evaluate collected information
FNSLOSS503B Report findings and provide guidance to involved parties
FNSINSV501B Issue contracts of insurance covering non-routine situations
FNSRISK501B Undertake risk identification
ELECTIVE UNITS
Achieve at least 4 elective units. The 4 elective units may be selected as follows:
• all 4 electives may be selected from the list of units suitable at Diploma level• of the 4 elective units, up to 2 units may be selected from the list of units suitable at
Certificate IV or Advanced Diploma level• of the 4 electives units, up to 2 units may be selected from other endorsed Training
Packages in accordance with other packaging guidelines for this qualification• a list of suitable units at Diploma level that can used as electives for this qualification
has been provided at the end of this document for reference purposes.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS51407 Diploma of Personal Injury Management (Workers Compensation)
Volume 1 of 3, Qualification 27 of 32 Page 289 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Diploma of Personal Injury Management (WorkersCompensation):
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • developing and writing reports to specifications
• preparing and presenting correspondence in appropriateelectronic format
• questioning, clarifying and evaluating information• reading and interpreting policy documents, legislation,
reports, charts, graphs and statistics• recommending workplace modifications and job redesign
with relevant stakeholders• using effective telephone techniques and having the ability
to negotiate solutions for clients• using interviewing and referral skills
Teamwork • agreeing on goals in consultation with injured worker andrelevant stakeholders
• counseling, mentoring and coaching staff to improve theirperformance
• managing the work of others• referring matters to a higher authority as required, including
internal and external specialists• working as a member of a team and applying knowledge of
one's own role to achieve team goals• using the services of a multidisciplinary team
Problem solving • analysing and synthesising information, and determininglevels of insurance risk
• analysing performance data, identifying problems and takingremedial action
• applying analytical skills, data interpretation skills andconducting comparative analyses
• checking the accuracy of calculations• clarifying the brief, conducting the investigation and
reporting on the legitimacy of a claim• collecting, comparing and contrasting data• designing and implementing data gathering techniques• interpreting company policy• surveying potential risk exposure• using problem solving tools and techniques
Initiative and enterprise • dealing with unexpected situations and the changing needs
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS51407 Diploma of Personal Injury Management (Workers Compensation)
Volume 1 of 3, Qualification 27 of 32 Page 290 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
of clients• identifying trends in claims and developing strategies to
minimise future risk• implementing continuous improvement practices
Planning and organising • conducting an operational review of a portfolio• conducting research to collect and analyse information and
presenting it in report form• contributing to the planning process by researching and
validating information• planning work, considering resources, time and other
constraints• preparing a tender and selecting a successful tenderer• reviewing and updating policies and procedures• setting up a system to investigate, collect, organise, analyse
and review service data
Self management • defining and understanding own work role• 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• understanding and acting upon compliance requirements• working ethically and complying with industry Professional
Code of Practice and legislative requirements
Learning • adapting to change in technology and/or work practices• developing and maintaining personal competence• ensuring induction and training for injured worker are
conducted and monitored• following workplace safety procedures• identifying opportunities for professional development• seeking specialist advice as required• using online help for self learning purposes
Technology • operating computers• using business technology to access, organise and monitor
information• using research data devices, and telecommunication
devices and equipment• using word processing, spreadsheet and database skills to
produce workplace documentation
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS51407 Diploma of Personal Injury Management (Workers Compensation)
Volume 1 of 3, Qualification 27 of 32 Page 291 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
FNS60104 Advanced Diploma of Financial ServicesTo attain an Advanced Diploma of Financial Services 12 units must be achieved:
• 4 industry core units (see note below), plus• 8 elective units.
This qualification is designed to reflect the role of employees working across the entirefinancial services spectrum, with substantial business unit responsibility or professionalexpertise.
It can be tailored to reflect:
• insurance broking• holding an insurance broking licence• managing financial businesses• retail financial services.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
Note: Several of the core units listed above are common to Certificate III, Certificate IV andDiploma qualifications from the FNS04 Financial Services Training Package. Those whohave previously gained a Certificate III, Certificate IV or Diploma will have had all or some ofthese units assessed. If these core units have not been previously assessed they will need tobe demonstrated prior to the awarding of an Advanced Diploma qualification.
ELECTIVE UNITS
Achieve at least 8 elective units. The 8 elective units may be selected as follows:
• all 8 elective units may be selected from the list of units suitable at Advanced Diplomalevel
• of the 8 elective units, 6 must be selected from the list of units suitable at AdvancedDiploma level
• of the 8 elective units, up to 2 units may be selected from the list of units suitable atDiploma level if they are needed to achieve the desired workplace outcomes
• of the 8 elective units, up to 2 units may be selected from other endorsed TrainingPackages in accordance with other packaging guidelines for this qualification
• the choice of electives should be appropriate to the level and integrity of thequalification and to the workplace outcomes it is designed to meet
• see Levels Chart for full list of units available in the FNS04 Financial Services TrainingPackage.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS60104 Advanced Diploma of Financial Services
Volume 1 of 3, Qualification 28 of 32 Page 292 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Advanced Diploma of Financial Services:
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • applying effective sales and marketing skills
• developing a rapport with clients• documenting clients' complex or special needs to protect
interests of clients and broker• fostering business relationships and providing a high level of
customer service and relationship management• presenting complex information to the client• using interpersonal skills to meet a client's personal needs• using negotiation techniques and interpersonal skills to meet
a client's personal needs
Teamwork • applying knowledge of one's own role to achieve team goals• building reporting/feedback mechanisms into systems• referring matters to a higher authority as required and
outsourcing tasks to internal and external specialists• supervising staff and working as a member of a team
Problem solving • analysing and synthesising information and determininglevels of risk
• calculating profit margins, budgets, return on investmentand preparing financial forecasts
• collecting, comparing and contrasting data• developing and managing risk including contingency
planning• using problem solving tools and techniques
Initiative and enterprise • aligning customer characteristics to ' best product'• continually reviewing and applying emerging industry trends
to product and service knowledge• developing innovative approaches to designing and selling
financial products and services
Planning and organising • allocating resources and maintaining accurate records• establishing and monitoring performance targets• managing the implementation of compliance systems,
policies and procedures and risk strategies• producing a business plan for a financial product
Self management • managing own time and performance• operating within Codes of Ethics, Codes of Professional
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS60104 Advanced Diploma of Financial Services
Volume 1 of 3, Qualification 28 of 32 Page 293 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Conduct, legislation and regulations• taking responsibility as required by work role and ensuring
all organisational polices and procedures are followed
Learning • contributing to the learning of others• facilitating internal training to ensure staff have the
knowledge and skills to implement quality and compliancesystems
• identifying and documenting training needs to meet ongoingcompliance requirements
• reviewing and evaluating training programs
Technology • conducting web searches and using corporate templates• operating computers and using word processing,
spreadsheet and database skills to produce workplacedocumentation
• using business technology to access, organise and monitorinformation
• using research data devices and telecommunication devicesand equipment
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS60104 Advanced Diploma of Financial Services
Volume 1 of 3, Qualification 28 of 32 Page 294 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
FNS60204 Advanced Diploma of AccountingTo attain a Advanced Diploma of Accounting 17 units must be achieved:
• 4 industry core units, plus• 5 prerequisite units common to the Diploma of Accounting, plus• 1 sectoral core unit, plus• 7 elective units.
This qualification is designed to reflect the role of employees working in accounting andseeking professional identification.
Participants seeking professional identification and registration will need to ensure the choiceof competencies cover current taxation registration requirements.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
Note: Several of the core units listed above are common to Certificate III, Certificate IV andDiploma qualifications from the FNS04 Financial Services Training Package. Those whohave previously gained a Certificate III, Certificate IV or Diploma will have had all or some ofthese units assessed. If these core units have not been previously assessed they will need tobe demonstrated prior to the awarding of an Advanced Diploma qualification.
PREREQUISITE UNITS
Achieve the following 5 prerequisite units:
Competency in the following core sectoral units from the Diploma of Accounting must bedemonstrated prior to awarding of this qualification:
FNSACCT502B Prepare income tax returns
FNSACCT503B Manage budgets and forecasts
FNSACCT504B Prepare financial reports for a reporting entity
FNSACCT506B Implement and maintain internal control procedures
FNSACCT507B Provide management accounting information
SECTORAL CORE UNITS
Achieve the following sectoral core unit:
FNSACCT604B Monitor corporate governance activities
Elective units
Achieve at least 7 elective units. The 7elective units may be selected as follows:
•
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
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Volume 1 of 3, Qualification 29 of 32 Page 295 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
all 7 elective units may be selected from the list of units suitable at Advanced Diplomalevel
• of the 7 elective units, at least 4 units must be chosen from the units listed below• of the 7 elective units, up to 3 units may be selected from the list of units suitable at
Diploma level or above from this Training Package or other endorsed TrainingPackages
• the choice of electives should be appropriate to the level and integrity of thequalification and to the workplace outcomes it is designed to meet
• the units listed below are suggested as suitable electives• see Levels Chart for full list of units available in the FNS04 Financial Services Training
Package.
SUGGESTED ELECTIVE UNITS
FNSACCT601B Prepare complex tax returns and lodgements
FNSACCT602B Audit and report on financial systems and records
FNSACCT603B Implement tax plans and evaluate tax compliance
FNSACCT605B Implement organisational improvement programs
FNSACCT606B Conduct internal audit
FNSACCT607B Evaluate business performance
FNSACCT608B Evaluate organisation's financial performance
FNSACCT609B Evaluate financial risk
FNSACCT610B Develop and implement financial strategies
FNSACCT611B Implement an insolvency program
FNSACCT612B Implement reconstruction plan
FNSACCT613B Prepare and analyse management accounting information
FNSACCT614B Prepare complex corporate financial reports
FNSICORG609B Develop and manage financial systems
FNSRISK602B Determine and manage risk exposure strategies
NOTE: The following unit may be included in this qualification:
• BSBADM404A Develop and use complex spreadsheets
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS60204 Advanced Diploma of Accounting
Volume 1 of 3, Qualification 29 of 32 Page 296 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Advanced Diploma of Accounting:
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • developing and writing reports to specifications
• negotiating solutions with clients• preparing and presenting correspondence in appropriate
electronic formats• questioning, listening and clarifying client's requirements• using a range of presentation skills and presenting financial
reports using graphs, diagrams and tables
Teamwork • liaising with government collection agencies and workingwith internal staff to achieve team goals
• negotiating and agreeing with staff on performancestandards
Problem solving • aligning requirements of the system with the needs of users• analysing and synthesising information and determining
levels of risk• applying estimating, forecasting and analysis skills• conducting variance and cost benefit analyses• developing financial performance indicators and security
arrangements to ensure the integrity of the system• establishing and reviewing assumptions/parameters• identifying financial risks• preparing complex taxation returns• testing procedures and analysing internal control
procedures• using problem solving tools and techniques• using sampling and selection techniques
Initiative and enterprise • applying referral skills• contributing to solutions for workplace challenges• demonstrating flexibility to meet changing environments• designing appropriate formats for reports• investigating corporate governance trends
Planning and organising • allocating and reviewing resource allocation and maintainingaccurate records
• developing and monitoring implementation plans• ensuring the integrity of systems, records and reporting
procedures are maintained• establishing and monitoring performance targets
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS60204 Advanced Diploma of Accounting
Volume 1 of 3, Qualification 29 of 32 Page 297 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
• implementing internal financial audit to ensure ongoingcompliance
Self management • defining and working within own work role• 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• understanding and acting upon compliance requirements• working ethically and complying with industry Professional
Code of Practice and legislative requirements
Learning • adapting to change in technical and work procedures• developing and maintaining personal competence• identifying opportunities for professional development• maintaining currency of knowledge of legislation and
industry Codes of Practice• using online help for self learning purposes
Technology • conducting web searches and using corporate templates• evaluating information technology systems and having the
capacity to troubleshoot problems• using business technology such as computers and applying
word processing, spreadsheet and database skills toproduce workplace documents
• using research data devices and telecommunication devicesand equipment
• using technology to manage financial information and toassist in the planning process
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS60204 Advanced Diploma of Accounting
Volume 1 of 3, Qualification 29 of 32 Page 298 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
FNS60304 Advanced Diploma of Financial Services(Conveyancing)To attain an Advanced Diploma in Financial Services (Conveyancing) 18 units must beachieved:
• 4 industry core units, plus• 10 sectoral core units (6 units common to the Diploma of Financial Services
[Conveyancing]), plus• 4 elective units.
This is the recommended industry pathway for persons practicing as conveyancers.
Note: Licensing regimes for conveyancers differ from state to state in Australia. To determinethe most appropriate pathway to satisfy licensing requirements within a particular state it willbe necessary to contact the relevant Licensing Body for advice.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
Note: Several of the core units listed above are common to Certificate III, Certificate IV andDiploma qualifications from the FNS04 Financial Services Training Package. Those whohave previously gained a Certificate III, Certificate IV or Diploma will have had all or some ofthese units assessed. If these core units have not been previously assessed they will need tobe demonstrated prior to the awarding of an Advanced Diploma qualification.
SECTOR CORE UNITS
Achieve the following 10 sector core units:
(6 of these units are common to the Diploma of Financial Services [Conveyancing])
FNSCONV501B Take instructions in relation to a transaction
FNSCONV502B Prepare and/or analyse and execute documents
FNSCONV503B Establish, manage and administer trust accounts
FNSCONV504B Finalise conveyancing transactions
FNSICORG510B Manage own professional development
FNSICCUS501B Develop and nurture relationships with clients, other professionals and thirdparty referrers
FNSCONV601B Obtain and analyse all information for the transaction
FNSICORG603B Negotiate to achieve goals and manage disputes
FNSICORG610B Manage infrastructure
FNSICORG609B Develop and manage financial systems
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS60304 Advanced Diploma of Financial Services (Conveyancing)
Volume 1 of 3, Qualification 30 of 32 Page 299 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
ELECTIVE UNITS
Achieve at least 4 elective units. The 4 elective units may be selected as follows:
• all 4 elective units may be selected from the list of units suitable at Advanced Diplomalevel
• of the 4 elective units, up to 1 unit appropriate for Advanced Diploma level may beselected from other endorsed Training Packages
• of the 4 elective units, up to 2 units may be selected from the list of units suitable atDiploma level
• the choice of electives should be appropriate to the level and integrity of thequalification and to the workplace outcomes it is designed to meet
• industry recommends choosing electives from the units listed below• see Levels Chart for full list of units available in the FNS04 Financial Services Training
Package.
INDUSTRY RECOMMENDED ELECTIVE UNITS
FNSICORG608B Control a budget
FNSICCUS602B Implement customer service strategy
FNSPRAC601B Establish, supervise and monitor practice systems to conform withlegislation and regulations
FNSPRAC602B Improve the practice
FNSPRAC603B Grow the practice
FNSCOMP602B Develop and implement compliance systems
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS60304 Advanced Diploma of Financial Services (Conveyancing)
Volume 1 of 3, Qualification 30 of 32 Page 300 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Advanced Diploma of Financial Services (Conveyancing):
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • adjusting interpersonal styles and methods as required
• communicating ideas and information cognisant of socialand cultural diversity and special needs
• consulting, questioning, clarifying and evaluating information• developing and writing reports to specifications• fostering business relationships and providing a high level of
customer service and relationship management• preparing and presenting correspondence in appropriate
electronic format• using effective telephone techniques and having the ability
to negotiate solutions with clients and colleagues
Teamwork • contributing to team cohesion• developing and maintaining professional networks• making constructive contributions to group decision making
processes• providing feedback, support and encouragement to team
members• referring to other professionals as required
Problem solving • analysing performance data, identifying problems and takingremedial action
• applying analytical and diagnostic skills, data interpretationskills and conducting comparative analyses
• checking the accuracy of calculations• collecting, comparing and contrasting data• developing, monitoring and controlling a budget• using evaluative and deductive reasoning skills• using problem solving tools and techniques
Initiative and enterprise • benchmarking the business• designing a work environment that facilitates effective and
productive workflow and communication• developing strategies to develop and maintain customer
loyalty• finding and securing new business relationships• identifying new and emerging opportunities and developing
strategies to capitalise on them• monitoring the external environment and identifying
emerging practices and trends
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
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• setting goals in respect to client follow ups
Planning and organising • developing and implementing policies and procedures inrespect to trust accounts and other organisationalrequirements
• ensuring the integrity of systems, records and reportingprocedures are maintained
• locating information on statutory and legislativerequirements
• planning work considering resources, time and otherconstraints
• processing documents and maintaining files, managinginformation and scheduling and coordinating competingtasks
Self management • acting as a role model for others• asking for and responding to feedback on performance• managing own time and priorities and dealing with
contingencies• planning own work schedule and monitoring and evaluating
own work performance• presenting a positive organisational image• taking responsibility as required by work role and ensuring
all organisational policies and procedures are followed• understanding and acting upon compliance implications• working ethically and complying with all industry Codes of
Practice and legislative requirements
Learning • contributing to the learning of others through implementingteam building exercises
• developing and maintaining personal competence• developing and monitoring individual training plans• encouraging continuous education and professional
development• identifying and documenting training needs to meet ongoing
compliance• maintaining currency of knowledge of legislation and
industry Codes of Practice• using online help for self learning purposes
Technology • conducting web searches and using corporate templates• operating computers, using word processing, spreadsheet
and database skills to produce workplace documentation• operating the organisation's business or records system• reviewing and evaluating financial and IT systems for
compliance with trust account requirements• using business technology to access, organise and monitor
information• using customised software to track clients• using research data devices and telecommunication devices
and equipment
This table is a summary of employability skills that are typical of this qualification and should
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
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Volume 1 of 3, Qualification 30 of 32 Page 302 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
not be interpreted as definitive.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
FNS60304 Advanced Diploma of Financial Services (Conveyancing)
Volume 1 of 3, Qualification 30 of 32 Page 303 of 408© Commonwealth of Australia, 2007 To be reviewed by: 31 October 2007
FNS60404 Advanced Diploma of Financial Services (FinancialPlanning)To attain a Advanced Diploma of Financial Services (Financial Planning) 12 units mustbe achieved:
• 4 industry core units, plus• 7 sectoral core unit, plus• 1 elective unit.
This is the industry recommended competency pathway for financial planners able to providea comprehensive range of services, across a variety of product environments, includingthose involving complex issues and/or innovative strategies. This person would generallyhold a senior and/or supervisory role.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
Note: Several of the core units listed above are common to Certificate III, Certificate IV andDiploma qualifications from the FNS04 Financial Services Training Package. Those whohave previously gained a Certificate III, Certificate IV or Diploma will have had all or some ofthese units assessed. If these core units have not been previously assessed they will need tobe demonstrated prior to the awarding of an Advanced Diploma qualification.
SECTOR CORE UNITS
Achieve the following 7 sectoral core units:
FNSFPLN508B Conduct complex financial planning research
FNSFPLN601B Provide technical and professional guidance
FNSFPLN602B Determine client requirements and expectations for clients with complexneeds
FNSFPLN603B Provide comprehensive monitoring and ongoing service
FNSFPLN604B Develop complex and/or innovative financial planning strategies
FNSFPLN605B Present and negotiate complex and/or innovative financial plan to the client
FNSFPLN606B Implement complex and/or innovative financial plan
ELECTIVE UNITS
Achieve at least 1 elective unit:
• the elective unit may be selected from the list of units suitable at Advanced Diplomalevel or from another endorsed Training Package at Advanced Diploma level
• if ASIC accreditation as a financial product adviser in financial planning is sought, theASIC unit FNSASIC503ZB Provide advice in Financial Planning will be required.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
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• Please note that FNSASIC503ZB has five Diploma level prerequisite units(FNSFPLN501B, FNSFPLN502B, FNSFPLN503B, FNSFPLN504B, FNSFPLN505B)
• see Levels Chart for full list of units available in the FNS04 Financial Services TrainingPackage.
FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007
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Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Advanced Diploma of Financial Services (Financial Planning):
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • developing a rapport with clients and communicating ideas
and information cognisant of clients' social and culturaldiversity and special needs
• documenting clients' complex or special needs to protectinterests of client and financial planner
• fostering business relationships and providing a high level ofcustomer service and relationship management
• negotiating to resolve financial planning issues• possessing excellent presentation skills with an ability to
'read' verbal and non-verbal body language• presenting complex information to the client 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
customers
Teamwork • coaching and mentoring staff on new skills• coordinating the implementation of financial plans with other
professionals• delegating and briefing various personnel on their roles and
responsibilities regarding the implementation of clients'financial plans
• demonstrating leadership in evaluating policies andprocedures
• producing a positive and productive workplace thatencourages maximum participation
Problem solving • applying estimating, forecasting and analysis skills• calculating fees and charges• collecting and analysing data• comparing and contrasting data• solving discrepancies• testing and assessing the integrity of information• using analytical, evaluative and deductive reasoning skills
Initiative and enterprise • assessing the impact of trends on product performance• developing an innovative financial strategy aligned to a
client's needs and risk tolerance
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• identifying new and emerging opportunities and developingstrategies to capitalise on them
• monitoring the external environment and identifyingemerging practices and trends
Planning and organising • coordinating people, resources and/or equipment to achieveoptimum results
• developing action plans against financial plans to meettimelines 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 polices 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 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 workplacedocumentation
• using business technology to access, organise and monitorinformation
• using research data devices and telecommunication devicesand equipment
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
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FNS60504 Advanced Diploma of Financial Services(Superannuation)To attain a Advanced Diploma of Financial Services (Superannuation) 12 units mustbe achieved:
• 4 industry core units, plus• 5 sectoral core unit, plus• 3 elective units.
This is the industry recommended competency pathway for a person who would perform arange of senior management duties within superannuation and be involved in supervisingoperational and management systems for the fund at an organisational level.
INDUSTRY CORE UNITS
Achieve the following 4 industry core units:
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry
Note: Several of the core units listed above are common to Certificate III, Certificate IV andDiploma qualifications from the FNS04 Financial Services Training Package. Those whohave previously gained a Certificate III, Certificate IV or Diploma will have had all or some ofthese units assessed. If these core units have not been previously assessed they will need tobe demonstrated prior to the awarding of an Advanced Diploma qualification.
SECTORAL CORE UNITS
Achieve the following 5 sectoral core units:
FNSSUPR601B Liaise with and support trustees
FNSICORG514B Supervise work within a financial services context
FNSICORG613B Establish outsourced services and monitor performance
FNSICCUS601B Establish, manage and monitor key relationship
FNSICORG612B Establish and prepare operational guidelines in a financial servicesorganisation
NOTE: The industry has identified that there are different underpinning advice skills for staffwithin superannuation organisations as to those in the external advice marketplace.
* Prerequisite units for this ASIC unit (FNSASIC503UB) for individuals within superannuationorganisations are:
FNSICORG514B Supervise work within a financial services context
FNSSUPR501B Supervise complaints procedures
FNSSUPR504B Provide advanced customer services to superannuation clients
* Prerequisite units for this ASIC unit for individuals working outside superannuation
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organisations but who provide advice in the product of superannuation (e.g. financialplanners, accountants) are:
FNSICCUS506B Determine client requirements and expectations
FNSICADV502B Provide appropriate and timely information and advice to clients
FNSICPRO502B Conduct product research to support recommendations
FNSICCUS507B Record and implement client instructions
ELECTIVE UNITS
Achieve at least 3 elective units. The 3 elective units maybe selected as follows:
• at least 2 of the 3 elective units must be selected from the Superannuation stream (i.e.coded FNSSUPR)
• of the 3 elective units, at least 1 unit must be selected from the list of units suitable atAdvanced Diploma level
• the units listed below are suggested as suitable electives• see Levels Chart for full list of units available in the FNS04 Financial Services Training
Package.
SUGGESTED ELECTIVE UNITS
FNSSUPR501B Supervise complaints procedures
FNSSUPR504B Provide advanced customer service to superannuation clients
FNSSUPR601B Liaise with and support trustees
FNSSUPR602B Manage official complaints procedures and proceedings
FNSSUPR603B Integrate investment strategy with fund operations
FNSICSAM602B Identify and evaluate marketing opportunities in the financial servicesindustry
FNSASIC503UB Provide advice in Superannuation*
FNSICORG501B Develop a budget
FNSICORG502B Manage a budget
FNSICORG604B Provide leadership and motivation within a workplace team
FNSICORG609B Development and manage financial systems
FNSICORG611B Manage the selection and implementation of information technologysystems
FNSICPRO601B Develop a financial product
FNSICPRO602B Establish agreements with intermediaries for product distribution
FNSACCT505B Establish and maintain accounting information systems
FNSRISK601B Develop and implement risk mitigation plan
FNSCOMP601B Interpret and manage statutory, legislative and regulatory obligations fororganisational compliance
FNSCOMP602B Develop and implement compliance systems
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FNSPRAC702B Establish or review marketing, client services and supplier relationships
FNSPRAC703B Establish or review human resources, administration and informationsupport
BSBFLM510B Facilitate and capitalise on change and innovation
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Qualification RequirementsNote - The following qualification details may be a duplicate of the information above due to thecurrent method of coding packaging rules for the latest release of NTIS (National Training InformationService).
To achieve a Advanced Diploma of Financial Services (Superannuation):
The following table contains a summary of the employability skills for this qualification. Thistable should be interpreted in conjunction with the detailed requirements of each unit ofcompetency packaged in this qualification. The outcomes described here are broad industryrequirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include:Communication • conciliating and resolving complaints
• consulting and negotiating contracts with outsourcedsuppliers
• developing and writing reports to specifications• establishing and maintaining key client relationships• fostering business relationships and providing a high level of
customer service and relationship management• liaising with trustees and representing trustees at formal
external proceedings• using effective telephone techniques and having the ability
to negotiate solutions with clients and colleagues
Teamwork • allocating team members to key clients• coaching and mentoring staff to reach minimum customer
service standards• providing feedback, support and encouragement to team
members• providing opportunities for staff to provide feedback on
policies and procedures
Problem solving • collecting, analysing, comparing and contrasting data• identifying and resolving inconsistencies• providing strategies on how to address non compliances• testing and assessing the integrity of information
Initiative and enterprise • developing innovative customer service strategies tomaintain loyalty
• effectively managing change and integrating newinformation and procedures into existing work practices
• exploring strategic options for investment• outsourcing activities to specialists
Planning and organising • allocating resources and maintaining accurate records• establishing and monitoring performance targets• managing the implementation of compliance systems,
policies and procedures and risk strategies• monitoring policy against KPIs• researching, developing, trialling, implementing, monitoring
and reviewing policies and procedures and risk strategies
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Self management • applying the organisation's workplace vision and mission• managing own time and priorities and dealing with
contingencies• operating within Codes of Ethics, Codes of Professional
Conduct, legislation and regulations• representing the organisation in a professional manner and
ensuring all statutory requirements are met when workingwith trustees
• taking responsibility as required by work role and ensuringall organisational polices and procedures are followed
• using discretion and judgement within complexenvironments
Learning • adapting to change in technology and/or work practices• contributing to the learning of others• defining own work role and understanding level of
responsibility• developing and maintaining personal competence• identifying opportunities for professional development• making induction training available to new staff• offering specific training on developing key client
relationships and handling complaints• seeking advice from specialists• 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 workplacedocumentation
• using business technology to access, organise and monitorinformation
• using research data devices and telecommunication devicesand equipment
This table is a summary of employability skills that are typical of this qualification and shouldnot be interpreted as definitive.
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Assessment Guidelines
Introduction
These Assessment Guidelines provide the endorsed framework for assessment of units ofcompetency in this Training Package. They are designed to ensure that assessment isconsistent with the Australian Quality Training Framework (AQTF) Standards for RegisteredTraining Organisations. Assessments against the units of competency in this TrainingPackage must be carried out in accordance with these Assessment Guidelines.
Assessment System Overview
This section provides an overview of the requirements for assessment when using thisTraining Package, including a summary of the AQTF requirements; licensing/registrationrequirements; and assessment pathways.
Benchmarks for Assessment
Assessment within the National Training Framework is the process of collecting evidence andmaking judgements about whether competency has been achieved to confirm whether anindividual can perform to the standards expected in the workplace, as expressed in therelevant endorsed unit of competency.
In the areas of work covered by this Training Package, the endorsed units of competency arethe benchmarks for assessment. As such, they provide the basis for nationally recognisedAustralian Qualifications Framework (AQF) qualifications and Statements of Attainmentissued by Registered Training Organisations (RTOs).
Australian Quality Training Framework Assessment Requirements
Assessment leading to nationally recognised AQF qualifications and Statements ofAttainment in the vocational education and training sector must meet the requirements of theAQTF as expressed in the Standards for Registered Training Organisations.
The Standards for Registered Training Organisations can be downloaded from the DESTwebsite at www.dest.gov.au or can be obtained in hard copy from DEST. The following pointssummarise the assessment requirements under the AQTF.
Registration of Training Organisations
Assessment must be conducted by, or on behalf of, an RTO formally registered by a State orTerritory Registering/Course Accrediting Body in accordance with the Standards forRegistered Training Organisations. The RTO must have the specific units of competencyand/or AQF qualifications on its scope of registration. See Section 1 of the Standards forRegistered Training Organisations.
Quality Training and Assessment
Each RTO must have systems in place to plan for and provide quality training andassessment across all its operations. See Standard 1 of the Standards for RegisteredTraining Organisations.
Assessor Competency Requirements
Each person involved in training, assessment or client service must be competent for thefunctions they perform. See Standard 7 of the Standards for Registered TrainingOrganisations for assessor competency requirements. Standard 7 also specifies thecompetencies that must be held by trainers.
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Assessment Requirements
The RTOs assessments must meet the requirements of the endorsed components of TrainingPackages within its scope of registration. See Standard 8 of the Standards for RegisteredTraining Organisations.
Assessment Strategies
Each RTO must identify, negotiate, plan and implement appropriate learning and assessmentstrategies to meet the needs of each of its clients. See Standard 9 of the Standards forRegistered Training Organisations.
Mutual Recognition
Each RTO must recognise the AQF qualifications and Statements of Attainment issued byany other RTO. See Standard 5 of the Standards for Registered Training Organisations.
Access and Equity and Client Services
Each RTO must apply access and equity principles, provide timely and appropriateinformation, advice and support services that assist clients to identify and achieve desiredoutcomes. This may include reasonable adjustment in assessment. See Standard 6 of theStandards for Registered Training Organisations.
Partnership Arrangements
RTOs must have, and comply with, written agreements with each organisation providingtraining and/or assessment on its behalf. See Standard 1.6 of Standards for RegisteredTraining Organisations.
Recording Assessment Outcomes
Each RTO must have effective administration and records management procedures in place,and must record AQF qualifications and Statements of Attainment issued. See Standards 4and 10.2 of the Standards for Registered Training.
Issuing AQF Qualifications and Statement of Attainment
Each RTO must issue AQF qualifications and Statements of Attainment that meet therequirements of the AQF Implementation Handbook and the endorsed Training Packageswithin the scope of its registration. An AQF qualification is issued once the full requirementsfor a qualification, as specified in the nationally endorsed Training Package are met. AStatement of Attainment is issued where the individual is assessed as competent againstfewer units of competency than required for an AQF qualification. See Standard 10 andSection 2 of the Standards for Registered Training Organisations.
Licensing/Registration Requirements
This section provides information on licensing/registration requirements for this TrainingPackage. For further information on this topic contact Innovation & Business Skills Australia(www.ibsa.org.au).
Requirements for Registered Training Organisations (RTOs)
The ASIC Advisory units of competency in this Training Package provide the basis forstatutory licensing and industry registration arrangements. To provide delivery andassessment solutions that satisfy these licensing and registration arrangements, RTOs mustmeet the additional requirements detailed in the following chart.
LICENCE/REGISTRATION
JURISDICTION REQUIREMENTS
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Australian FinancialServices Licence (AFSL)
Australian SecuritiesAnd InvestmentCommission (ASIC)
For RTO courses to be recognised forthe purposes of meeting minimumtraining standards, which are conditionalto gaining a AFSL, the RTOs coursesmust include the required ASIC advisoryunits and be listed on ASIC's TrainingRegister. This is in addition to thequalifications being on scope of theRTOs registration.
RTOs must make a separate applicationto ASIC for their courses to be includedon the Register. For information go towww.asic.gov.au .
Requirements for Candidates
Individuals being assessed under statutory licensing and industry registration systems mustcomply with training and experience requirements additional to the minimum requirementsidentified in this Training Package. These additional requirements apply to any person whoprovides financial product advice to retail clients and are a pre-condition of an organisationgaining a AFSL. The minimum training requirements are specified in ASIC's Policy Statement146 (PS146) (a copy can be downloaded at www.asic.com.au ) and have been reflected in anumber of specific ASIC advisory units of competency within the Training Package.
PS146 identifies eleven key sectors within the financial services industry: financial planning,insurance broking, securities, derivatives, life insurance, foreign exchange, managedinvestments and superannuation (designated as Tier 1 sectors), basic deposit products andnon-cash payment facilities and general insurance (designated as Tier 2 sectors (except forpersonal injury and accident insurance)).
Depending on type/class of product a financial adviser wishes to provide advice in, theadviser must be competent against specific ASIC advisory units within the Training Package.For Tier 1 compliance, one or more of the following units must be completed within a diplomalevel qualification:
FNSASIC503ZB Provide advice in Financial Planning
FNSASIC503YB Provide advice in Insurance Broking
FNSASIC503XB Provide advice in Life Insurance
FNSASIC503WB Provide advice in Securities
FNSASIC503VB Provide advice in Derivatives
FBSASIC503UB Provide advice in Superannuation
FNSASIC503TB Provide advice in Managed Investments
FNSASIC503SB Provide advice in Foreign Exchange
For Tier 2 compliance the following two ASIC advisory units must be undertaken within aCertificate III or Certificate IV qualification:
FNSASIC301B Establish client relationship and analyse needs
FNSASIC302B Develop, present and negotiate client solutions
Pathways
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The competencies in this Training Package may be attained in a number of ways includingthrough:
• formal or informal education and training• experiences in the workplace• general life experience, and/or• any combination of the above.
Assessment under this Training Package leading to an AQF qualification or Statement ofAttainment may follow a learning and assessment pathway, an assessment-only orrecognition pathway, or a combination of the two as illustrated in the following diagram.
Each of these assessment pathways leads to full recognition of competencies held - thecritical issue is that the candidate is competent, not how the competency was acquired.
Assessment, by any pathway, must comply with the assessment requirements set out in theStandards for Registered Training Organisations.
Learning and Assessment Pathways
Usually, learning and assessment are integrated, with assessment evidence being collectedand feedback provided to the candidate at anytime throughout the learning and assessmentprocess.
Learning and assessment pathways may include structured programs in a variety of contextsusing a range of strategies to meet different learner needs. Structured learning andassessment programs could be: group-based, work-based, project-based, self-paced, actionlearning-based; conducted by distance or e-learning; and/or involve practice and experiencein the workplace.
Learning and assessment pathways to suit New Apprenticeships have a mix of formalstructured training and structured workplace experience with formative assessment activitiesthrough which candidates can acquire and demonstrate skills and knowledge from therelevant units of competency.
Assessment-Only or Recognition of Prior Learning Pathway
Competencies already held by individuals can be formally assessed against the units ofcompetency in this Training Package, and should be recognised regardless of how, when orwhere they were achieved.
In an assessment-only or Recognition of Prior Learning (RPL) pathway, the candidateprovides current, quality evidence of their competency against the relevant unit ofcompetency. This process may be directed by the candidate and verified by the assessor,such as in the compilation of portfolios; or directed by the assessor, such as through
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observation of workplace performance and skills application, and oral and/or writtenassessment. Where the outcomes of this process indicate that the candidate is competent,structured training is not required. The RPL requirements of Standard 8.2 of the Standards forRegistered Training Organisations must be met.
As with all assessment, the assessor must be confident that the evidence indicates that thecandidate is currently competent against the endorsed unit of competency. This evidencemay take a variety of forms and might include certification, references from past employers,testimonials from clients, and work samples. The onus is on candidates to provide sufficientevidence to satisfy assessors that they currently hold the relevant competencies. In judgingevidence, the assessor must ensure that the evidence of prior learning is:
• authentic (the candidate's own work)• valid (directly related to the current version of the relevant endorsed unit of competency)• reliable (shows that the candidate consistently meets the endorsed unit of competency)• current (reflects the candidate's current capacity to perform the aspect of the work
covered by the endorsed unit of competency), and• sufficient (covers the full range of elements in the relevant unit of competency and
addresses the four dimensions of competency, namely task skills, task managementskills, contingency management skills, and job/role environment skills).
The assessment only or recognition of prior learning pathway is likely to be most appropriatein the following scenarios:
• candidates enrolling in qualifications who want recognition for prior learning or currentcompetencies
• existing workers• individuals with overseas qualifications• recent migrants with established work histories• people returning to the workplace, and• people with disabilities or injuries requiring a change in career.
Combination of Pathways
Where candidates for assessment have gained competencies through work and lifeexperience and gaps in their competence are identified, or where they require training in newareas, a combination of pathways may be appropriate.
In such situations, the candidate may undertake an initial assessment to determine theircurrent competency. Once current competency is identified, a structured learning andassessment program ensures that the candidate acquires the required additionalcompetencies identified as gaps.
Assessor Requirements
This section identifies the mandatory competencies for assessors, and clarifies how othersmay contribute to the assessment process where one person alone does not hold all therequired competencies.
Assessor Competencies
The Standards for Registered Training Organisations specify mandatory competencyrequirements for assessors. For information, Standard 7.3 from the Standards for RegisteredTraining Organisations follows:
7.3 a The RTO must ensure that assessments are conducted by a person who has:
• the following competencies* from the Training Package for Assessment andWorkplace Training, or demonstrated equivalent competencies:
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• TAAASS401A Plan and organise assessment;• TAAASS402A Assess competence;• TAAASS404A Participate in assessment validation;
• relevant vocational competencies, at least to the level being assessed.
b However, if a person does not have all of the competencies in Standards 7.3 a (i)and the vocational competencies as defined in 7.3 a(ii), one person with thecompetencies listed in Standard 7.3 a(i), and one or more persons who have thecompetencies listed in Standard 7.3 a (ii) may work together to conductassessments.
* A person who holds the competencies BSZ401A Plan assessment, BSZ402AConduct assessment, and BSZ403A Review assessment from the TrainingPackage for Assessment and Workplace Training will be accepted for the purposesof this standard. A person who has demonstrated equivalent competencies toBSZ401A and BSZ402A and BSZ403A in the period up to 12 months followingpublication of the Training and Assessment Training Package will also be acceptedfor the purposes of this standard.
Designing Assessment Tools
This section provides an overview on the use and development of assessment tools.
Use of Assessment Tools
Assessment tools provide a means of collecting the evidence that assessors use in makingjudgements about whether candidates have achieved competency.
There is no set format or process for the design, production or development of assessmenttools. Assessors may use prepared assessment tools, such as those specifically developed tosupport this Training Package, or they may develop their own.
Using Prepared Assessment Tools
If using prepared assessment tools, assessors should ensure these are benchmarked, ormapped, against the current version of the relevant unit of competency. This can be done bychecking that the materials are listed on the National Training Information Service(http://www.ntis.gov.au). Materials on the list have been noted by the National Quality Councilas meeting their quality criteria for Training Package support materials.
Developing Assessment Tools
When developing assessment tools, assessors must ensure that they:
• are benchmarked against the relevant unit or units of competency• are reviewed as part of the validation of assessment strategies as required under 9.2 (i)
of the Standards for Registered Training Organisations• meet the assessment requirements expressed in the Standards for Registered Training
Organisations, particularly Standards 8 and 9.
A key reference for assessors developing assessment tools is TAA04 Training andAssessment Training Package and the unit of competency TAAASS403A Developassessment tools. There is no set format or process for the design, production ordevelopment of assessment materials.
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Conducting Assessment
This section details the mandatory assessment requirements and provides information onequity in assessment including reasonable adjustment.
Mandatory Assessment Requirements
Assessments must meet the criteria set out in Standard 8 from the Standards for RegisteredTraining Organisations. For information, Standard 8 from the Standards for RegisteredTraining Organisations is reproduced below.
8 RTO Assessments
The RTOs assessments meet the requirements of the endorsed components ofTraining Packages and the outcomes specified in accredited courses within thescope of its registration.
8.1 The RTO must ensure that assessments (including RPL):
i. comply with the assessment guidelines included in the applicable nationallyendorsed Training Packages or the assessment requirements specified inaccredited courses;
ii. lead to the issuing of a statement of attainment or qualification under the AQF whena person is assessed as competent against nationally endorsed unit(s) ofcompetency in the applicable Training Package or modules specified in theapplicable accredited course;
iii. are valid, reliable, fair and flexible;
iv. provide for applicants to be informed of the context and purpose of the assessmentand the assessment process;
v. where relevant, focus on the application of knowledge and skill to standard ofperformance required in the workplace and cover all aspects workplaceperformance, including task skills, task management skills, contingencymanagement skills and job role environment skills;
vi. involve the evaluation of sufficient evidence to enable judgements to be madeabout whether competency has been attained;
vii. provide for feedback to the applicant about the outcomes of the assessmentprocess and guidance on future options in relation to those outcomes;
viii. are equitable for all persons, taking account of individual needs relevant to theassessment; and
ix. provide for reassessment on appeal.
8.2 a The RTO must ensure that RPL is offered to all applicants on enrolment
b The RTO must have an RPL process that:
i. is structured to minimise the time and cost to applicants; and
ii. provides adequate information, support and opportunities for participants toengage in the RPL process.
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Delivery and assessment of Employability Skills
Employability Skills are integral to workplace competency and, as such, must be consideredin the design, customisation, delivery and assessment of vocational education and trainingprograms in an integrated and holistic way, as represented diagrammatically below.
Training providers must analyse the Employability Skills information contained in units ofcompetency in order to design valid and reliable learning and assessment strategies. Thisanalysis includes:
• reviewing unit(s) of competency to determine how each relevant Employability Skill isfound and applied within the unit
• analysing the Employability Skills Summary for the qualification in which the unit(s)is/are packaged to help clarify relevant industry/workplace contexts with regard to theapplication of Employability Skills at that qualification level
• designing learning and assessment activities that address the Employability Skillsrequirements.
Employability Skills in the Financial Services Training Packagecontext
Licensing/Registration Requirements
This section provides information on licensing/registration requirements for this TrainingPackage. For further information on this topic contact Innovation & Business Skills Australia(www.ibsa.org.au).
Requirements for Registered Training Organisations (RTOs)
The ASIC Advisory units of competency in this Training Package provide the basis for
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statutory licensing and industry registration arrangements. To provide delivery andassessment solutions that satisfy these licensing and registration arrangements, RTOs mustmeet the additional requirements detailed in the following chart.
LICENCE/REGISTRATION
JURISDICTION REQUIREMENTS
Australian FinancialServices Licence (AFSL)
Australian SecuritiesAnd InvestmentCommission (ASIC)
For RTO courses to be recognised forthe purposes of meeting minimumtraining standards, which are conditionalto gaining a AFSL, the RTOs coursesmust include the required ASIC advisoryunits and be listed on ASIC's TrainingRegister. This is in addition to thequalifications being on scope of theRTOs registration.
RTOs must make a separate applicationto ASIC for their courses to be includedon the Register. For information go towww.asic.gov.au .
Requirements for Candidates
Individuals being assessed under statutory licensing and industry registration systems mustcomply with training and experience requirements additional to the minimum requirementsidentified in this Training Package. These additional requirements apply to any person whoprovides financial product advice to retail clients and are a pre-condition of an organisationgaining a AFSL. The minimum training requirements are specified in ASIC's Policy Statement146 (PS146) (a copy can be downloaded at www.asic.com.au ) and have been reflected in anumber of specific ASIC advisory units of competency within the Training Package.
PS146 identifies eleven key sectors within the financial services industry: financial planning,insurance broking, securities, derivatives, life insurance, foreign exchange, managedinvestments and superannuation (designated as Tier 1 sectors), basic deposit products andnon-cash payment facilities and general insurance (designated as Tier 2 sectors (except forpersonal injury and accident insurance)).
Depending on type/class of product a financial adviser wishes to provide advice in, theadviser must be competent against specific ASIC advisory units within the Training Package.For Tier 1 compliance, one or more of the following units must be completed within a diplomalevel qualification:
FNSASIC503ZB Provide advice in Financial Planning
FNSASIC503YB Provide advice in Insurance Broking
FNSASIC503XB Provide advice in Life Insurance
FNSASIC503WB Provide advice in Securities
FNSASIC503VB Provide advice in Derivatives
FBSASIC503UB Provide advice in Superannuation
FNSASIC503TB Provide advice in Managed Investments
FNSASIC503SB Provide advice in Foreign Exchange
For Tier 2 compliance the following two ASIC advisory units must be undertaken within a
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Certificate III or Certificate IV qualification:
FNSASIC301B Establish client relationship and analyse needs
FNSASIC302B Develop, present and negotiate client solutions
For more information on Employability Skills in Innovation and Business Industry SkillsCouncil Training Packages go to the Innovation and Business Industry Skills Council websiteat http://www.ibsa.org.au.
Access and Equity
An individuals access to the assessment process should not be adversely affected byrestrictions placed on the location or context of assessment beyond the requirementsspecified in this Training Package.
Reasonable adjustments can be made to ensure equity in assessment for people withdisabilities. Adjustments include any changes to the assessment process or context that meetthe individual needs of the person with a disability, but do not change competency outcomes.Such adjustments are considered reasonable if they do not impose an unjustifiable hardshipon a training provider or employer. When assessing people with disabilities, assessors areencouraged to apply good practice assessment methods with sensitivity and flexibility.
Further Sources of Information
The section provides a listing of useful contacts and resources to assist assessors inplanning, designing, conducting and reviewing of assessments against this Training Package.
Contacts
TVET Australia Ltd
Level 21, 390 St Kilda Road
MELBOURNE VIC 3004
PO Box 12211
A'Beckett Street Post Office
MELBOURNE VIC 8006
Telephone: (03) 9832 8100
Fax: (03) 9832 8199
Web: www.atpl.net.au
Email: [email protected]
Innovation and Business Industry Skills Council
Building B, Level 2
192 Burwood Road
HAWTHORN VIC 3122
Telephone: (03) 9815 7000
Fax: (03) 9815 7001
Email: [email protected]
General Resources
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Refer to http://antapubs.dest.gov.au/publications/search.asp to locate the following ANTApublications.
AQF Implementation Handbook, third Edition. Australian Qualifications Framework AdvisoryBoard, 2002, aqf.edu.au
Australian Quality Training Framework (AQTF) - for general information go to:www.dest.gov.au/sectors
Australian Quality Training Framework (AQTF) - for resources and information go to:www.dest.gov.au
Australian Quality Training Framework Standards for Registered Training Organisations,Australian National Training Authority, Melbourne, 2005. Available in hard copy from Stateand Territory Training Authorities or can be downloaded from www.dest.gov.au
TAA04 Training and Assessment Training Package. This is available from the Innovation andBusiness Skills Australia (IBSA) Industry Skills Council and can be viewed, and componentsdownloaded, from the National Training Information Service (NTIS). National TrainingInformation Service, an electronic database providing comprehensive information aboutRTOs, Training Packages and accredited courses - www.ntis.gov.auStyle Guide for TrainingPackage Support Materials, Australian National Training Authority, Melbourne, 2003. Can bedownloaded from the ANTA page at www.dest.gov.au
Assessment Resources
Training Package Assessment Guides - a range of resources to assist RTOs in developingTraining Package assessment materials developed by DEST with funding from theDepartment of Education, Training and Youth Affairs. It is made up of 10 separate titles, asdescribed at the ANTA publications page of www.dest.gov.au. Go towww.resourcegenerator.gov.au/loadpage.asp?TPAG.htm
Printed and/or CD ROM versions of the Guides can be purchased from Australian TrainingProducts (ATP). The resource includes the following guides:
1 Training Package Assessment Materials Kit2 Assessing Competencies in Higher Qualifications3 Recognition Resource4 Kit to Support Assessor Training5 Candidates Kit: Guide to Assessment in New Apprenticeships6 Assessment Approaches for Small Workplaces7 Assessment Using Partnership Arrangements8 Strategies for ensuring Consistency in Assessment9 Networking for Assessors10 Quality Assurance Guide for Assessment
An additional guide "Delivery and Assessment Strategies" has been developed tocomplement these resources.
Assessment Tool Design and Conducting Assessment
VETASSESS & Western Australian Department of Training and Employment 2000, DesigningTests - Guidelines for designing knowledge based tests for Training Packages. VocationalEducation and Assessment Centre 1997, Designing Workplace Assessment Tools, Aself-directed learning program, NSW TAFE.
Manufacturing Learning Australia 2000, Assessment Solutions, Australian Training Products,Melbourne.
Rumsey, David 1994, Assessment practical guide, Australian Government Publishing Service,
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Canberra.
Assessor Training
Australian Committee on Training Curriculum (ACTRAC) 1994, Assessor training program -learning materials, Australian Training Products, Melbourne.
Australian National Training Authority, A Guide for Professional Development, ANTA,Brisbane.
Australian Training Products Ltd Assessment and Workplace Training, Training Package -Toolbox, ATPL Melbourne.
Green, M, et al. 1997, Key competencies professional development Package, Department forEducation and Children's Services, South Australia.
Victorian TAFE Association 2000, The professional development CD: A learning tool, VTA,Melbourne.
Assessment System Design and Management
Office of Training and Further Education 1998, Demonstrating best practice in VET project -assessment systems and processes, OTFE Victoria.
Toop, L., Gibb, J. & Worsnop, P. Assessment system designs, Australian GovernmentPublishing Service, Canberra.
Western Australia Department of Training and VETASSESS 1998, Kit for Skills RecognitionOrganisations, WADOT, Perth.
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Competency Standards
What is competency?
The broad concept of industry competency concerns the ability to perform particular tasks andduties to the standard of performance expected in the workplace. Competency requires theapplication of specified skills, knowledge and attitudes relevant to effective participation in anindustry, industry sector or enterprise.
Competency covers all aspects of workplace performance and involves performing individualtasks; managing a range of different tasks; responding to contingencies or breakdowns; and,dealing with the responsibilities of the workplace, including working with others. Workplacecompetency requires the ability to apply relevant skills, knowledge and attitudes consistentlyover time and in the required workplace situations and environments. In line with this conceptof competency Training Packages focus on what is expected of a competent individual in theworkplace as an outcome of learning, rather than focussing on the learning process itself.
Competency standards in Training Packages are determined by industry to meet identifiedindustry skill needs. Competency standards are made up of a number of units of competencyeach of which describes a key function or role in a particular job function or occupation. Eachunit of competency within a Training Package is linked to one or more AQF qualifications.
Contextualisation of Units of Competency by RTOs
Registered Training Organisation (RTOs) may contextualise units of competency to reflectlocal outcomes required. Contextualisation could involve additions or amendments to the unitof competency to suit particular delivery methods, learner profiles, specific enterpriseequipment requirements, or to otherwise meet local needs. However, the integrity of theoverall intended outcome of the unit of competency must be maintained.
Any contextualisation of units of competency in this endorsed Training Package must bewithin the bounds of the following advice. In contextualising units of competency, RTOs:
• must not remove or add to the number and content of elements and performance criteria• may add specific industry terminology to performance criteria where this does not distort
or narrow the competency outcomes• may make amendments and additions to the range statement as long as such changes
do not diminish the breadth of application of the competency and reduce its portability,and/or
• may add detail to the evidence guide in areas such as the critical aspects of evidence orresources and infrastructure required where these expand the breadth of thecompetency but do not limit its use.
Components of Units of Competency
The components of units of competency are summarised below, in the order in which theyappear in each unit of competency.
Unit Title
The unit title is a succinct statement of the outcome of the unit of competency. Each unit ofcompetency title is unique, both within and across Training Packages.
Unit Descriptor
The unit descriptor broadly communicates the content of the unit of competency and the skillarea it addresses. Where units of competency have been contextualised from units of
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competency from other endorsed Training Packages, summary information is provided. Theremay also be a brief second paragraph that describes its relationship with other units ofcompetency, and any licensing requirements.
Employability Skills statement
A standard Employability Skills statement appears in each unit of competency. This statementdirects trainers and assessors to consider the information contained in the Employability SkillsSummary in which the unit of competency is packaged.
Prerequisite Units (optional)
If there are any units of competency that must be completed before the unit, these will belisted.
Application of the Unit
This sub-section fleshes out the unit of competency's scope, purpose and operation indifferent contexts, for example, by showing how it applies in the workplace.
Competency Field (Optional)
The competency field either reflects the way the units of competency are categorised in theTraining Package or denotes the industry sector, specialisation or function. It is an optionalcomponent of the unit of competency.
Sector (optional)
The industry sector is a further categorisation of the competency field and identifies the nextclassification, for example an elective or supervision field.
Elements of Competency
The elements of competency are the basic building blocks of the unit of competency. Theydescribe in terms of outcomes the significant functions and tasks that make up thecompetency.
Performance Criteria
The performance criteria specify the required performance in relevant tasks, roles, skills andin the applied knowledge that enables competent performance. They are usually written inpassive voice. Critical terms or phrases may be written in bold italics and then defined inrange statement, in the order of their appearance in the performance criteria.
Required Skills and Knowledge
The essential skills and knowledge are either identified separately or combined. Knowledgeidentifies what a person needs to know to perform the work in an informed and effectivemanner. Skills describe the application of knowledge to situations where understanding isconverted into a workplace outcome.
Range Statement
The range statement provides a context for the unit of competency, describing essentialoperating conditions that may be present with training and assessment, depending on thework situation, needs of the candidate, accessibility of the item, and local industry andregional contexts. As applicable, the meanings of key terms used in the performance criteriawill also be explained in the range statement.
Evidence Guide
The evidence guide is critical in assessment as it provides information to the RegisteredTraining Organisation (RTO) and assessor about how the described competency may bedemonstrated. The evidence guide does this by providing a range of evidence for the
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assessor to make determinations, and by providing the assessment context. The evidenceguide describes:
• conditions under which competency must be assessed including variables such as theassessment environment or necessary equipment
• relationships with the assessment of any other units of competency• suitable methodologies for conducting assessment including the potential for workplace
simulation• resource implications, for example access to particular equipment, infrastructure or
situations• how consistency in performance can be assessed over time, various contexts and with a
range of evidence, and expectations at the AQF qualification level involved
Employability Skills in units of competency
The detail and application of Employability Skills facets will vary according to the job-rolerequirements of each industry. In developing Training Packages, industry stakeholders areconsulted to identify appropriate facets of Employability Skills which are incorporated into therelevant units of competency and qualifications.
Employability Skills are not a discrete requirement contained in units of competency (as wasthe case with Key Competencies). Employability Skills are specifically expressed in thecontext of the work outcomes described in units of competency and will appear in elements,performance criteria, range statements and evidence guides. As a result, users of TrainingPackages are required to review the entire unit of competency in order to accuratelydetermine Employability Skills requirements.
How Employability Skills relate to the Key Competencies
The eight nationally agreed Employability Skills now replace the seven Key Competencies inTraining Packages. Trainers and assessors who have used Training Packages prior to theintroduction of Employability Skills may find the following comparison useful.
Employability Skills Mayer Key Competencies
Communication Communicating ideas and information
Teamwork Working with others and in teams
Problem solving Solving problemsUsing mathematical ideas and techniques
Initiative and enterprise
Planning and organising Collecting, analysing and organisinginformationPlanning and organising activities
Self-management
Learning
Technology Using technology
When analysing the above table it is important to consider the relationship and natural overlapof Employability Skills. For example, using technology may involve communication skills andcombine the understanding of mathematical concepts.
Explicitly embedding Employability Skills in units of competency
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This Training Package seeks to ensure that industry-endorsed Employability Skills areexplicitly embedded in units of competency. The application of each skill and the level ofdetail included in each part of the unit will vary according to industry requirements and thenature of the unit of competency.
Employability Skills must be both explicit and embedded within units of competency. Thismeans that Employability Skills will be:
• embedded in units of competency as part of the other performance requirements thatmake up the competency as a whole
• explicitly described within units of competency to enable Training Packages users toidentify accurately the performance requirements of each unit with regards toEmployability Skills.
This Training Package also seeks to ensure that Employability Skills are well-defined andwritten into units of competency so that they are apparent, clear and can be delivered andassessed as an essential component of unit work outcomes.
The following table contains examples of embedded Employability Skills for each componentof a unit of competency. Please note that in the examples below the bracketed skills areprovided only for clarification and will not be present in units of competency within thisTraining Package.
Example Employability Skills unit
Unit component Example of embedded Employability Skill
Unit Title Give formal presentations and take part inmeetings (communication)
Unit Descriptor This unit covers the skills and knowledgerequired to promote the use andimplementation of innovative work practicesto effect change. (initiative and enterprise)
Element Proactively resolve issues. (problem solving)
Performance Criteria Information is organised in a format suitablefor analysis and dissemination in accordancewith organisational requirements. (planningand organising)
Range Statement Information is organised in a format suitablefor analysis and dissemination in accordancewith organisational requirements. (planningand organising)
Required Skills and Knowledge Modify activities depending on differingworkplace contexts, risk situations andenvironments. (learning)
Work collaboratively with others during a fireemergency. (teamwork)
Instructions, procedures and other informationrelevant the maintenance of vessel and portsecurity. (communication)
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Evidence Guide Modify activities depending on differingworkplace contexts, risk situations andenvironments. (learning)
Work collaboratively with others during a fireemergency. (teamwork)
Instructions, procedures and other informationrelevant the maintenance of vessel and portsecurity. (communication)
Competency Standards - Industry Contextualisation
Industry capability and sector units of competency
The review of the FNS04 Financial Services Training Package, conducted during 2003/2004,identified a need for a base of non-exclusive units easily identifiable and accessible by allsectors of our industry. The development of "Industry Capability" units of competencyprovides an innovative and critical component of the FNS04 Financial Services TrainingPackage.
"Industry Capability" units of competency provide a source of universal standards, applicableto the entire financial services industry, which have been developed with the aim of allowingfor contextualisation by specific sectors. The applicability and value of these universalstandards can be observed through their widespread use as both sectoral core units andelective units within all qualifications and their application when contextualising qualificationsis highly recommended.
In addition to providing this source of universal standards, the FNS04 Financial ServicesTraining Package identifies 24 distinct sectors, or areas, within the industry and units ofcompetency specific to these sectors are available in specific sections of the three volumeTraining Package.
In 2007, a twenty-fifth sector was added: bookkeeping.
The Industry Capability units of competency and the sector specific units of competency havebeen coded to ensure easy identification as follows:
INDUSTRY CAPABILITY AREA UNIT CODING
Account Management FNSICACC...
Advice
(Except ASIC Units)
FNSICADV...
FNSASIC...
Customer Relationship FNSICCUS...
Generic FNSICGEN...
Industry Knowledge FNSICIND...
Organisational Skills FNSICORG...
Product Skills FNSICPRO...
Sales and Marketing FNSICSAM...
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SECTORAL AREA UNIT CODING
Accounting FNSACCT...
Banking FNSBANK...
Bookkeeping FNSBKPG...
Compliance FNSCOMP...
Conveyancing FNSCONV...
Credit/Lending Services FNSCRDT...
Debt Management FNSDMGT...
Finance/Mortgage Broking FNSFBRK...
Financial Literacy FNSFLIT...
Financial Markets FNSFMKT...
Financial Planning FNSFPLN...
General Insurance FNSGINS...
Insurance Broking FNSINBK...
Insurance Services FNSINSV...
Life Distribution FNSLDIS...
Life Insurance FNSLIFE...
Loss Adjusting FNSLOSS...
Mercantile Agents FNSMERC...
Personal Trustees FNSPERT...
Practice Management FNSPRAC...
Retail FNSRETA...
Risk Management FNSRISK...
Self Managed Superannuation FNSSMSF...
Superannuation FNSSUPR...
Workers Compensation FNSWCMP...
The various Industry Capability and Sectoral units listed above are divided into 20 sectionswithin the three volumes of the FNS04 Financial Services Training Package as follows:
Volume I
Introduction, Qualifications Framework and Assessment Guidelines
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Section 1 Industry Capability Competency Standards:
• Account Management• Generic• Industry Knowledge
Section 2 Industry Capability Competency Standards:
• Organisational Skills
Section 3 Industry Capability Competency Standards:
• Customer Relationship• Product Skills• Sales and Marketing
Section 4 Industry Capability Competency Standards:
• Advice (including ASIC Advice Competency Standards)
Volume II
Section 5 Accounting Competency Standards
Section 6 Bookkeeping Competency Standards
Section 7 Conveyancing Competency Standards
Section 8 Credit/Lending Services and Debt Management Competency Standards
Section 9 Finance/Mortgage Broking Competency Standards
Section 10 Financial Literacy Competency Standards
Section 11 Financial Markets Competency Standards
Section 12 Financial Planning Competency Standards
Section 13 General Insurance Competency Standards
Section 14 Insurance Sectors Competency Standards:
• General Insurance• Insurance Broking• Life Distribution• Life Insurance• Loss Adjusting• Workers Compensation
Volume III
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Section 15 Insurance Services Competency Standards
Section 16 Mercantile Agents Competency Standards
Section 17 Personal Trustees Competency Standards
Section 18 Practice Management, Risk Management and Compliance CompetencyStandards
Section 19 Retail Financial Services and Banking Competency Standards
Section 20 Superannuation Competency Standards:
• Self Managed Superannuation• Superannuation
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Appendices
Appendices
Glossary
The following words are used with the meaning given in this document:
Industry Core: The Industry Core Units include four (4) fundamental units requiredas a core in Certificate II and Certificate III. Achievement of three (3)of the Certificate II and Certificate III Industry Core Units must bedemonstrated at Certificate IV level and an additional one (I)Certificate IV level Industry Core Unit undertaken. The four (4)Industry Core Units relevant to Certificate IV must be demonstratedat Diploma and Advanced Diploma level. Details on the five (5)Industry Core Units are listed in each qualification contained withinthis Training Package.
The Industry Core Units applicable at Certificate II and III are:
FNSICIND301B Work in the financial services industry
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
The Industry Core Units applicable at, or required to be demonstratedat, Certificate IV, Diploma and Advanced Diploma are:
FNSICIND401B Apply principles of professional practice to work inthe financial services industry
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
Note: The newly developed Workers Compensation qualifications atCertificate III, IV and Diploma have sets of core units that aredifferent to the above model.
Sector Core: Units that have to be included in a particular specialist qualification.
Elective: Units which may be selected for inclusion in a particular qualificationstream. In certain cases, primarily specialist qualifications, a selectionof elective units may be mandatory or suggested pertaining to thecontent area, such as Insurance Broking, General Insurance,Accounting. Alternatively elective units may be selected as per theguidelines detailed for the qualification in question.
Prerequisite Units: Where prerequisite units exist they are listed in the Summary of Unitsof Competency section of this document.
LEVELS CHART
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The chart on the following pages shows the qualification at which the units are considered tobe most appropriate. Units may be packaged in other qualifications in accordance with thepackaging rules specified for each qualification in the preceding sections.
The Levels Chart also provides information on the section of the FNS04 Financial ServicesTraining Package in which any given competency standard can be located.
Unit Title FNS04Sect
C II CIII
CIV
Dip AdvDip
A/DipUnaligned
Industry Capability- AccountManagement
FNSICACC301B Administer accountspayable
Sect. 1 X
FNSICACC302B Administer financialaccounts
Sect. 1 X
FNSICACC303B Prepare, match andprocess receipts
Sect. 1 X
FNSICACC304B Prepare and bankreceipts
Sect. 1 X
FNSICACC305B Process paymentdocumentation
Sect. 1 X
FNSICACC306B Process journal entries Sect. 1 X
FNSICACC307B Reconcile and monitoraccounts receivable
Sect. 1 X
FNSICACC401B Evaluate and authorisepayment requests
Sect. 1 X
Industry Capability- Generic
FNSICGEN301B Communicate in theworkplace
Sect. 1 X
FNSICGEN302B Use technology in theworkplace
Sect. 1 X
FNSICGEN303B Work with others Sect. 1 X
FNSICGEN304B Apply health and safetypractices in theworkplace
Sect. 1 X
FNSICGEN305B Maintain dailyfinancial/businessrecords
Sect. 1 X
FNSICGEN401B Participate in formal Sect. 1 X
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communicationprocesses
FNSICGEN402B Participate innegotiations
Sect. 1 X
FNSICGEN403B Collect, assess and useinformation
Sect. 1 X
FNSICGEN404B Resolve disputes Sect. 1 X
FNSICGEN501B Produce researchreports and makepresentations
Sect. 1 X
FNSICGEN502B Solve workplaceproblems
Sect. 1 X
Industry Capability- IndustryKnowledge
FNSICIND301B Work in the FinancialServices industry
Sect. 1 X
FNSICIND401B Apply principles ofprofessional practice towork in the financialservices industry
Sect. 1 X
Industry Capability- OrganisationalSkills
FNSICORG301B Administer fixed assetregister
Sect. 2 X
FNSICORG302B Prepare reports formanagement
Sect. 2 X
FNSICORG401B Contribute to resourceplanning
Sect. 2 X
FNSICORG402B Work with specialistand outsourcedservices
Sect. 2 X
FNSICORG501B Develop a budget Sect. 2 X
FNSICORG502B Manage a budget Sect. 2 X
FNSICORG503B Develop an operationalplan
Sect. 2 X
FNSICORG504B Implement anoperational plan
Sect. 2 X
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FNSICORG505B Manage staffperformance to achievestrategic targets
Sect. 2 X
FNSICORG506B Develop and monitorpolicy and procedures
Sect. 2 X
FNSICORG507B Develop a resourceplan
Sect. 2 X
FNSICORG508B Manage a project Sect. 2 X
FNSICORG509B Maintain integrity offinancial systems
Sect. 2 X
FNSICORG510B Manage ownprofessionaldevelopment
Sect. 2 X
FNSICORG511B Manage the stafftraining function
Sect. 2 X
FNSICORG512B Act as a formalcomplaints officer
Sect. 2 X
FNSICORG513B Implement qualitysystems within workarea
Sect. 2 X
FNSICORG514B Supervise work within afinancial servicescontext
Sect. 2 X
FNSICORG515B Provide mentoring andcoaching within theworkplace
Sect. 2 X
FNSICORG516B Prepare financialreports to meetstatutory requirements
Sect. 2 X
FNSICORG517B Prepare financialforecasts andprojections
Sect. 2 X
FNSICORG518B Implement businesspractices
Sect. 2 X
FNSICORG519B Analyse and commenton managementreports
Sect. 2 X
FNSICORG601B Prepare strategic plans Sect. 2 X
FNSICORG602B Recruit, select andinduct staff
Sect. 2 X
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FNSICORG603B Negotiate to achievegoals and managedisputes
Sect. 2 X
FNSICORG604B Provide leadership andmotivation in aworkplace team
Sect. 2 X
FNSICORG605B Draw up and executeemployment contracts
Sect. 2 X
FNSICORG606B Manage flow ofinformation
Sect. 2 X
FNSICORG607B Develop systems Sect. 2 X
FNSICORG608B Control a budget Sect. 2 X
FNSICORG609B Develop and managefinancial systems
Sect. 2 X
FNSICORG610B Manage infrastructure Sect. 2 X
FNSICORG611B Manage the selectionand implementation ofinformation technologysystems
Sect. 2 X
FNSICORG612B Establish and prepareoperational guidelinesin a financial servicesorganisation
Sect. 2 X
FNSICORG613B Establish outsourcedservices and monitorperformance
Sect. 2 X
Industry Capability- CustomerRelationship
FNSICCUS301B Respond to customerenquiries
Sect. 3 X
FNSICCUS302B Process customercomplaints
Sect. 3 X
FNSICCUS303B Provide inboundtelephone service
Sect. 3 X
FNSICCUS304B Provide outboundtelephone customersolutions
Sect. 3 X
FNSICCUS305B Maintain customerdatabase
Sect. 3 X
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FNSICCUS401B Deliver a professionalservice to customers
Sect. 3 X
FNSICCUS402B Maintain customerrelationship
Sect. 3 X
FNSICCUS403B Coordinate, evaluateand improve customerservice
Sect. 3 X
FNSICCUS404B Implement a servicesupport system
Sect. 3 X
FNSICCUS501B Develop and nurturerelationships withclients, otherprofessionals and thirdparty referrers
Sect. 3 X
FNSICCUS502B Monitor clientrequirements
Sect. 3 X
FNSICCUS503B Review serviceperformance
Sect. 3 X
FNSICCUS504B Manage businesscustomer relationships
Sect. 3 X
FNSICCUS505B Manage premiumcustomer relationships
Sect. 3 X
FNSICCUS506B Determine clientrequirements andexpectations
Sect. 3 X
FNSICCUS507B Record and implementclient instructions
Sect. 3 X
FNSICCUS601B Establish, supervise andmonitor keyrelationships
Sect. 3 X
FNSICCUS602B Implement customerservice strategy
Sect. 3 X
Industry Capability- Product Skills
FNSICPRO401B Develop and maintainin-depth knowledge ofproducts and servicesused by yourorganisation or sector
Sect. 3 X
FNSICPRO402B Match financial productsto customer needs
Sect. 3 X
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FNSICPRO403B Tailor a product/serviceto meet customer needs
Sect. 3 X
FNSICPRO501B Allocate authorities andguidelines fordistribution
Sect. 3 X
FNSICPRO502B Conduct productresearch to supportrecommendations
Sect. 3 X
FNSICPRO601B Develop a financialproduct
Sect. 3 X
FNSICPRO602B Establish agreementswith intermediaries forproduct distribution
Sect. 3 X
FNSICPRO603B Develop a business planfor a financial product
Sect. 3 X
FNSICPRO604B Coordinateimplementation ofproduct/fund supportsystems
Sect. 3 X
Industry Capability- Sales andMarketing
FNSICSAM301B Identify opportunities forcross selling productsand services
Sect. 3 X
FNSICSAM401B Sell financial productsand services
Sect. 3 X
FNSICSAM402B Implement a sales plan Sect. 3 X
FNSICSAM403B Prospecting for newclients
Sect. 3 X
FNSICSAM501B Develop a sales plan Sect. 3 X
FNSICSAM502B Apply advanced sellingtechniques to selling offinancial products andservices
Sect. 3 X
FNSICSAM503B Develop a marketingplan
Sect. 3 X
FNSICSAM504B Implement, monitor andevaluate a marketingplan
Sect. 3 X
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FNSICSAM505B Assess market needs Sect. 3 X
FNSICSAM506B Monitor marketopportunities
Sect. 3 X
FNSICSAM601B Monitor performance insales of financialproducts or services
Sect. 3 X
FNSICSAM602B Identify and evaluatemarketing opportunitiesin the financial servicesindustry
Sect. 3 X
Industry Capability- Advice
FNSICADV301B Provide general adviceon financial productsand services
Sect. 4 X
FNSASIC301B Establish clientrelationship andanalyse needs
Sect. 4 X X
FNSASIC302B Develop, present andnegotiate clientsolutions
Sect. 4 X X
FNSASIC503SB Provide advice inForeign Exchange
Sect. 4 X
FNSASIC503TB Provide advice inManaged Investments
Sect. 4 X
FNSASIC503UB Provide advice inSuperannuation
Sect. 4 X
FNSASIC503VB Provide advice inDerivatives
Sect. 4 X
FNSASIC503WB Provide advice inSecurities
Sect. 4 X
FNSASIC503XB Provide advice in LifeInsurance
Sect. 4 X
FNSASIC503YB Provide advice inInsurance Broking
Sect. 4 X
FNSASIC503ZB Provide advice inFinancial Planning
Sect. 4 X
FNSICADV501B Provide appropriateservices, advice andproducts to clients
Sect. 4 X
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FNSICADV502B Provide appropriate andtimely information andadvice to clients
Sect. 4 X
Accounting
FNSACCT401B Process business taxrequirements
Sect. 5 X
FNSACCT402B Produce job costinginformation
Sect. 5 X
FNSACCT403B Prepare operationalbudgets
Sect. 5 X
FNSACCT404B Make decisions in alegal context
Sect. 5 X
FNSACCT405B Prepare financialstatements
Sect. 5 X
FNSACCT406B Maintain asset andinventory records
Sect. 5 X
FNSACCT407B Set up and operate acomputerisedaccounting system
Sect. 5 X
FNSACCT501B Provide financial andbusiness performanceinformation
Sect. 5 X
FNSACCT502B Prepare income taxreturns
Sect. 5 X
FNSACCT503B Manage budgets andforecasts
Sect. 5 X
FNSACCT504B Prepare financialreports for a reportingentity
Sect. 5 X
FNSACCT505B Establish and maintainaccounting informationsystems
Sect. 5 X
FNSACCT506B Implement and maintaininternal controlprocedures
Sect. 5 X
FNSACCT507B Provide managementaccounting information
Sect. 5 X
FNSACCT601B Prepare complex taxreturns and lodgements
Sect. 5 X
FNSACCT602B Audit and report on Sect. 5 X
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financial systems andrecords
FNSACCT603B Implement tax plansand evaluate taxcompliance
Sect. 5 X
FNSACCT604B Monitor corporategovernance activities
Sect. 5 X
FNSACCT605B Implementorganisationalimprovement programs
Sect. 5 X
FNSACCT606B Conduct internal audit Sect. 5 X
FNSACCT607B Evaluate businessperformance
Sect. 5 X
FNSACCT608B Evaluate organisationsfinancial performance
Sect. 5 X
FNSACCT609B Evaluate financial risk Sect. 5 X
FNSACCT610B Develop and implementfinancial strategies
Sect. 5 X
FNSACCT611B Implement aninsolvency program
Sect. 5 X
FNSACCT612B Implementreconstruction plan
Sect. 5 X
FNSACCT613B Prepare and analysemanagementaccounting information
Sect. 5 X
FNSACCT614B Prepare complexcorporate financialreports
Sect. 5 X
Bookkeeping
FNSBKPG401A Develop and implementpolicies and practicesrelevant to bookkeepingactivities
Sect. 6 X
FNSBKPG402A Establish and maintaina cash accountingsystem
Sect. 6 X
FNSBKPG403A Establish and maintainan accrual accountingsystem
Sect. 6 X
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FNSBKPG404A Carry out businessactivity and instalmentactivity statement tasks
Sect. 6 X
FNSBKPG405A Establish and maintaina payroll system
Sect. 6 X
Conveyancing
FNSCONV501B Take instructions inrelation to a transaction
Sect. 7 X
FNSCONV502B Prepare and/or analyseand execute documents
Sect. 7 X
FNSCONV503B Establish, manage andadminister trustaccounts
Sect. 7 X
FNSCONV504B Finalise conveyancingtransactions
Sect. 7 X
FNSCONV601B Obtain and analyse allinformation for thetransaction
Sect. 7 X
Credit/LendingServices
FNSCRDT301B Process applications forcredit
Sect.8 X
FNSCRDT302B Assess applications fordebt finance
Sect. 8 X
FNSCRDT303B Monitor and controlaccounts
Sect. 8 X
FNSCRDT401B Evaluate creditapplications
Sect. 8 X
FNSCRDT402B Settle application andarrangements for debtfinance
Sect. 8 X
FNSCRDT403B Determine and establishappropriate securities tominimise risk
Sect. 8 X
FNSCRDT404B Manage and recovererrant debts
Sect. 8 X
FNSCRDT501B Assess personal andcorporate insolvency
Sect. 8 X
FNSCRDT502B Sell debts Sect. 8 X
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Debt Management
FNSDMGT501B Promote understandingof the role and effectiveuse of consumer credit
Sect. 8 X
FNSDMGT502B Assist clients to identify,address and monitorown financial situation
Sect. 8 X
Finance/MortgageBroking
FNSFBRK401B Prepare and presentloan application tolender on behalf offinance or mortgagebroking client
Sect. 9 X
FNSFBRK402B Provide finance and/ormortgage brokingservices
Sect. 9 X
FNSFBRK403B Present broking optionsto client
Sect. 9 X
FNSFBRK404B Manage self in financeand/or mortgagebroking industry
Sect. 9 X
FNSFBRK501B Settle application andloan arrangements inthe finance/mortgagebroking industry
Sect. 9 X
FNSFBRK502B Identify and developcomplex broking optionsfor client
Sect. 9 X
FNSFBRK503B Present broking optionsto client with complexneeds
Sect. 9 X
FNSFBRK504B Implement complex loanstructures
Sect. 9 X
Financial Literacy
FNSFLIT201B Develop and use apersonal budget
Sect. 10 X
FNSFLIT202B Develop and use asavings plan
Sect. 10 X
FNSFLIT203B Develop understandingof debt and consumer
Sect. 10 X
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credit
FNSFLIT204B Develop understandingof superannuation
Sect. 10 X
FNSFLIT205B Develop understandingof the Australianfinancial system andmarkets
Sect. 10 X
FNSFLIT501B Assist customers tobudget and manageown finances
Sect. 10 X
FNSFLIT502B Facilitate customerawareness of theAustralian financialsystem and markets
Sect. 10 X
FNSFLIT503B Promote basic financialliteracy skills
Sect. 10 X
FNSFLIT504B Facilitate customerunderstanding ofpersonal financialstatements
Sect. 10 X
FNSFLIT505B Facilitate customer oremployeeunderstanding ofsuperannuation as aninvestment tool
Sect. 10 X
Financial Markets
FNSFMKT301B Complete transactionprocessing
Sect. 11 X
FNSFMKT401B Reconcile financialtransaction
Sect. 11 X
FNSFMKT501B Analyse financialmarkets andinformation
Sect. 11 X
FNSFMKT502B Analyse financialmarket products forclient
Sect. 11 X
FNSFMKT503B Advise clients onfinancial risk
Sect. 11 X
FNSFMKT504B Complete settlementand confirmationprocesses
Sect. 11 X
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FNSFMKT601B Price financialtransactions
Sect. 11 X
FNSFMKT602B Trade financial products Sect. 11 X
FNSFMKT603B Implement and managecompliance withstockbrokingregulations andstandards
Sect. 11 X
Financial Planning
FNSFPLN401B Extract and analyseinformation on specifiedfinancial strategies andproducts to setguidelines
Sect. 12 X
FNSFPLN402B Prepare financial plansto set strategies andguidelines
Sect. 12 X
FNSFPLN403B Implement financialplan to predeterminedguidelines
Sect. 12 X
FNSFPLN501B Comply with financialplanning practiceethical and operationalguidelines andregulations
Sect. 12 X
FNSFPLN502B Conduct financialplanning analysis andresearch
Sect. 12 X
FNSFPLN503B Develop and preparefinancial plan
Sect. 12 X
FNSFPLN504B Implement financialplan
Sect. 12 X
FNSFPLN505B Review financial planand provide ongoingservice
Sect. 12 X
FNSFPLN506B Meet with client todetermine clientrequirements andexpectations
Sect. 12 X
FNSFPLN507B Provide financialplanning advice
Sect. 12 X
FNSFPLN508B Conduct complex Sect. 12 X
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financial planningresearch
FNSFPLN601B Provide technical andprofessional guidance
Sect. 12 X
FNSFPLN602B Determine clientrequirements andexpectations for clientswith complex needs
Sect. 12 X
FNSFPLN603B Provide comprehensivemonitoring and ongoingservice
Sect. 12 X
FNSFPLN604B Develop complexand/or innovativefinancial planningstrategies
Sect. 12 X
FNSFPLN605B Present and negotiatecomplex and/orinnovative financial planto the client
Sect. 12 X
FNSFPLN606B Implement complex andor innovative financialplan
Sect. 12 X
General Insurance
FNSGINS401B Provide technicalguidance
Sect. 13 X
FNSGINS402B Inspect quality of work Sect. 13 X
FNSGINS403B Estimate jobs Sect. 13 X
FNSGINS404B Inspect damage anddevelop scope of work
Sect. 13 X
FNSGINS405B Inspect vehicle systems/components anddetermine preferredrepair action
Sect. 13 X
FNSGINS406B Inspect vehicle/propertyfor saleable items anddetermine their value
Sect. 13 X
Insurance BrokingStandards
FNSINBK301B Implement insuranceprogram for brokingclients
Sect. 14 X
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FNSINBK302B Place broking clientinsurance with insurers
Sect. 14 X
FNSINBK303B Confirm insurance coverwith broking client
Sect. 14 X
FNSINBK304B Provide a brokingclaims service to clients
Sect. 14 X
FNSINBK501B Prepare a new businesssubmission for a brokingclient
Sect. 14 X
FNSINBK502B Monitor broking clients Sect. 14 X
FNSINBK503B Implement changes tobroking client'sinsurance program
Sect. 14 X
FNSINBK504B Identify and advise onsignificant risk changesto broking clientinsurances
Sect. 14 X
FNSINBK505B Assess and negotiatecomplex risk portfolio forbroker client at renewal
Sect. 14 X
FNSINBK506B Review incidence ofloss for broking clients
Sect. 14 X
FNSINBK507B Meet compliancerequirements relating toinsurance broking
Sect. 14 X
FNSINBK508B Negotiate complexclaims settlement forinsurance broking client
Sect. 14 X
FNSINBK601B Develop guidelines forbroking services
Sect. 14 X
FNSINBK602B Implement the brokingservice support system
Sect. 14 X
FNSINBK603B Review insurancebrokerage serviceperformance
Sect. 14 X
Life Distribution
FNSLDIS501B Prepare a distributionplan
Sect. 14 X
FNSLDIS502B Resource thedistribution plan
Sect. 14 X
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FNSLDIS503B Establish services toprovide advice
Sect. 14 X
FNSLDIS504B Implement and managethe distribution plan
Sect. 14 X
Life Insurance
FNSLIFE301B Process and issue a lifeinsurance policy
Sect. 14 X
FNSLIFE302B Receive and processservice requests
Sect. 14 X
FNSLIFE303B Process policypayments andterminations
Sect. 14 X
FNSLIFE401B Undertake LifeInsurance riskassessment
Sect. 14 X
FNSLIFE402B Settle policy paymentsand terminations
Sect. 14 X
FNSLIFE501B Assess extraordinaryrisks
Sect. 14 X
Loss Adjusting
FNSLOSS501B Plan and implementloss investigation
Sect. 14 X
FNSLOSS502B Evaluate collectedinformation
Sect. 14 X
FNSLOSS503B Report findings andprovide guidance toinvolved parties
Sect. 14 X
FNSLOSS504B Negotiate/effectsettlement
Sect. 14 X
FNSLOSS505B Provide ancillaryservices
Sect. 14 X
WorkersCompensation
FNSWCMP301A Process benefitpayments
Sect 14 X
FNSWCMP302A Determine claim liability Sect 14 X
FNSWCMP303A Work within the workerscompensation industrysector
Sect 14 X
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FNSWCMP304A Manage claims Sect 14 X
FNSWCMP401B Plan and implementrehabilitation and returnto work strategies
Sect. 14 X
FNSWCMP402B Represent workerscompensationagent/insurer atconciliation and reviewhearings
Sect. 14 X
FNSWCMP403B Educate clients onworkers compensationissues
Sect. 14 X
FNSWCMP404A Assist workers with jobplacement
Sect. 14 X
FNSWCMP501A Manage workerscompensation caseloads
Sect. 14 X
FNSWCMP502A Develop a return towork strategy
Sect. 14 X
FNSWCMP503A Facilitate workplaceassessment withstakeholders forworkers compensationcases
Sect. 14 X
Insurance Services
FNSINSV301B Evaluate risk forrenewal business
Sect. 15 X
FNSINSV302B Process alteration toinsurance policy
Sect. 15 X
FNSINSV303B Issue contract ofinsurance
Sect. 15 X
FNSINSV304B Issue renewal advice Sect. 15 X
FNSINSV305B Issue cancellationadvice
Sect. 15 X
FNSINSV306B Receive andrecord/register a claim
Sect. 15 X
FNSINSV307B Follow organisationprocedures to processclaim
Sect. 15 X
FNSINSV308B Process facultative and Sect. 15 X
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treaty reinsuranceclaims
FNSINSV309B Settle claims Sect. 15 X
FNSINSV310B Process a claimspayment
Sect. 15 X
FNSINSV401B Evaluate risk for newbusiness
Sect. 15 X
FNSINSV402B Underwrite newbusiness
Sect. 15 X
FNSINSV403B Survey potential riskexposure
Sect. 15 X
FNSINSV404A Underwrite renewalbusiness
Sect. 15 X
FNSINSV405B Analyse insuranceclaims
Sect. 15 X
FNSINSV406B Use specialistterminology in insuranceclaims
Sect. 15 X
FNSINSV501B Issue contracts ofinsurance coveringnon-routine situations
Sect. 15 X
FNSINSV502B Review operationalperformance of theportfolio
Sect. 15 X
FNSINSV503B Undertake post loss riskmanagement
Sect. 15 X
FNSINSV504B Negotiate treatyreinsurance
Sect. 15 X
FNSINSV505B Determine risk rating forinvestment andinsurance products
Sect. 15 X
FNSINSV506B Investigate claims Sect. 15 X
FNSINSV507B Implement claimrecovery procedures
Sect. 15 X
FNSINSV508B Review claimssettlement policies andprocedures
Sect. 15 X
FNSINSV509B Analyse financial,medical andpsychological claims
Sect. 15 X
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assessments
FNSINSV510B Case manage claimsrehabilitation
Sect. 15 X
FNSINSV511B Manage non-routine,complex claims
Sect. 15 X
FNSINSV512B Settle non-routine,complex claims
Sect. 15 X
FNSINSV513B Work with legal teamsto resolve complexclaims
Sect. 15 X
FNSINSV514B Provide decisions onlegal liability andindemnity of a claim
Sect. 15 X
FNSINSV515B Review and updateclaim reserves inportfolio
Sect. 15 X
FNSINSV516B Evaluate and report onstatus of claims portfolioto identifiedstakeholders
Sect. 15 X
Mercantile Agent
FNSMERC301B Collect debts Sect. 16 X
FNSMERC302B Repossess property Sect. 16 X
FNSMERC303B Serve legal process Sect. 16 X
FNSMERC304B Locate subjects Sect. 16 X
FNSMERC401B Develop and documentcase recommendations
Sect. 16 X
FNSMERC402B Initiate legal recovery ofdebts
Sect. 16 X
Personal Trustees
FNSPERT301B Establish entitlements toan Intestate Estate
Sect. 17 X
FNSPERT302B Administer anon-complex Estate
Sect. 17 X
FNSPERT303B Administer anon-complex Trust
Sect. 17 X
FNSPERT401B Apply principles ofprofessional practice to
Sect. 17 X
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work in the personaltrustee industry
FNSPERT402B Administer an IntestateEstate
Sect. 17 X
FNSPERT403B Prepare a Will Sect. 17 X
FNSPERT404B Administer a complexEstate
Sect. 17 X
FNSPERT405B Administer a complexTrust
Sect. 17 X
FNSPERT406B Establish Powers ofAttorney or acceptappointment underFinancial AdministrationOrders
Sect. 17 X
FNSPERT407B Administer Powers ofAttorney or FinancialAdministration Orders
Sect. 17 X
FNSPERT501B Advise clients on truststructures
Sect. 17 X
FNSPERT502B Advise clients in estateplanning
Sect. 17 X
FNSPERT503B Allocate, assess andsupervise work withinthe personal trusteesector
Sect. 17 X
PracticeManagement
FNSPRAC501B Manage and maintainsmall/ medium businessoperations
Sect. 18 X
FNSPRAC601B Establish, supervise andmonitor practicesystems to conform withlegislation andregulations
Sect. 18 X
FNSPRAC602B Improve the practice Sect. 18 X
FNSPRAC603B Grow the practice Sect. 18 X
FNSPRAC701B Prepare, supervise andmonitor application ofpractice guidelines
Sect. 18 X
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FNSPRAC702B Establish or reviewmarketing, clientservices and supplierrelationships
Sect. 18 X
FNSPRAC703B Establish or reviewhuman resources,administration andinformation support
Sect. 18 X
Risk Management
FNSRISK501B Undertake riskidentification
Sect. 18 X
FNSRISK502B Assess risks Sect. 18 X
FNSRISK601B Develop and implementrisk mitigation plan
Sect. 18 X
FNSRISK602B Determine and managerisk exposure strategies
Sect. 18 X
Compliance
FNSCOMP401B Conduct individual workwithin a complianceframework
Sect. 18 X
FNSCOMP402B Facilitate compliancewith statutory,legislative andregulatory requirementsvia staff education
Sect. 18 X
FNSCOMP501B Comply with financialservices legislation,industry andprofessional codes ofpractice
Sect. 18 X
FNSCOMP601B Interpret and managestatutory, legislative andregulatory obligationsfor organisationalcompliance
Sect. 18 X
FNSCOMP602B Develop and implementcompliance systems
Sect. 18 X
Retail FinancialServices
FNSRETA301B Provide customerservice in a retailagency
Sect. 19 X
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FNSRETA302B Handle foreign currencytransactions
Sect. 19 X
FNSRETA303B Monitor and managetransactions
Sect. 19 X
FNSRETA304B Administer debit cardservices
Sect. 19 X
FNSRETA305B Process customeraccounts
Sect. 19 X
FNSRETA306B Process customertransactions
Sect. 19 X
FNSRETA307B Maintain ATM services Sect. 19 X
FNSRETA308B Prepare statistical andad hoc reports
Sect. 19 X
FNSRETA309B Balance cash holdings Sect. 19 X
FNSRETA310B Maintain main bankaccount
Sect. 19 X
FNSRETA401B Communicate newtechnologies tocustomers
Sect. 19 X
FNSRETA402B Administer credit cardservices
Sect. 19 X
FNSRETA403B Administer portfolios Sect. 19 X
FNSRETA404B Prepare governmentreturns
Sect. 19 X
RNSERTA501B Produce financialstatements
Sect. 19 X
Banking
FNSBANK401B Coordinate a smallbusiness customerportfolio
Sect. 19 X
FNSBANK402B Align banking productswith the needs of smallbusiness customers
Sect. 19 X
FNSBANK403B Provide services in aRural TransactionCentre
Sect. 19 X
FNSBANK501B Manage banking andservice strategy forsmall business
Sect. 19 X
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customers
FNSBANK502B Manage services in aRural TransactionCentre
Sect. 19 X
FNSBANK503B Provide businessadvisory services withina financial servicescontext
Sect. 19 X
Self ManagedSuperannuationStandards
FNSSMSF401B Process Self ManagedSuperannuationcontributions
Sect. 20 X
FNSSMSF501B Invest Self ManagedSuperannuation FundsAssets
Sect. 20 X
FNSSMSF502B Manage changes tofund structure
Sect. 20 X
FNSSMSF503B Manage administrationactivities of asuperannuation fund
Sect. 20 X
FNSSMSF504B Meet Self ManagedSuperannuation Fundscompliancerequirements
Sect. 20 X
FNSSMSF505B Support trustee in theselection andperformance monitoringof outsourced services
Sect. 20 X
FNSSMSF601B Provide advice in SelfManagedSuperannuation Funds
Sect. 20 X
FNSSMSF602B Apply taxationrequirements whenadvising in SelfManagedSuperannuation Funds
Sect. 20 X
FNSSMSF603B Apply legislative andoperationalrequirements toadvising in SelfManaged
Sect. 20 X
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Superannuation Funds
SuperannuationStandards
FNSSUPR301B Establish, maintain andprocess superannuationrecords
Sect. 20 X
FNSSUPR302B Processsuperannuationcontributions
Sect. 20 X
FNSSUPR303B Processsuperannuation EligibleTermination Payment(ETP) benefits
Sect. 20 X
FNSSUPR304B Implement trusteeinvestment instructions
Sect. 20 X
FNSSUPR305B Processsuperannuation fundpayments
Sect. 20 X
FNSSUPR306B Terminatesuperannuation plans
Sect. 20 X
FNSSUPR401B Process complexsuperannuation benefitand/or insurance claim
Sect. 20 X
FNSSUPR402B Assist in meetingsuperannuationcompliancerequirements
Sect. 20 X
FNSSUPR403B Work within a definedbenefit fund
Sect. 20 X
FNSSUPR404B Administer retirementincome streams
Sect. 20 X
FNSSUPR405B Establish andcustomise complexemployer accounts
Sect. 20 X
FNSSUPR406B Implement fund reviewpractices
Sect. 20 X
FNSSUPR407B Establish and maintainfund or plan
Sect. 20 X
FNSSUPR408B Assess complexsuperannuation benefitand/or insurance claims
Sect. 20 X
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FNSSUPR501B Supervise complaintsprocedures
Sect. 20 X
FNSSUPR502B Supervise insurerliaison
Sect. 20 X
FNSSUPR503B Develop clientrelationships withemployers andestablishsuperannuationsystems
Sect. 20 X
FNSSUPR504B Provide advancedcustomer service tosuperannuation clients
Sect. 20 X
FNSSUPR505B Produce reports forsuperannuation
Sect. 20 X
FNSSUPR506B Supervise and monitoroperational guidelinesin a superannuationorganisation
Sect. 20 X
FNSSUPR507B Review compliance withregulatory andcontractualrequirements
Sect. 20 X
FNSSUPR508B Provide effectiveinformation to members
Sect. 20 X
FNSSUPR601B Liaise with and supporttrustees
Sect. 20 X
FNSSUPR602B Manage officialcomplaints proceduresand proceedings
Sect. 20 X
FNSSUPR603B Integrate investmentstrategy with fundoperations
Sect. 20 X
Mapping Chart - FNB99 Financial Services Training Package to Version 1of FNS04 Financial Services Training Package
The chart on the following pages shows the correlation between qualifications andcompetency units previously contained in FNB99 and those contained in Version 1 of theFNS04 Financial Services Training Package, including previous unit codings and current unitcodings. For the most recent changes to qualifications and units contained in Version 2 ofFNS04 Financial Services Training Package, refer to pages vii and x respectively of thePreliminary Information section.
FNB99 to Version 1 of FNS04 Financial Services Training Package - Mapping of
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Qualifications
FNS04QualificationCode
FNS04QualificationTitle
FNB99QualificationCode
FNB99 QualificationTitle
RolloverOf FNB99Qualification
Comment InRelation ToPreviousIteration Of TheTrainingPackage AndRolloverRequirements
FNS10104 Certificate I inFinancialServices
Nil Nil Notapplicable
New qualification
FNS20104 Certificate II inFinancialServices
FNB20199 Certificate II inFinancial Services
No Certificate IIwithin FNS04 isa stand-alonequalification,whereas it was anestedqualificationwithin FNB99.Change in unitcontent andpackagingrequirements.
FNS30104 Certificate III inFinancialServices
FNB30199 Certificate III inFinancial Services
Yes Reduction inindustry coreunits. No changeto electiverequirements.
FNS30204 Certificate III inInsuranceServices
FNB30201 Certificate III inFinancial Services(General Insurance)
Yes Reduction inindustry coreunits. Increase insector core listedoptions withrollover of allprevious options,lessFNBGEN03A.
FNS30304 Certificate III inFinancialServices(AccountsClerical)
FNB30302 Certificate III inFinancial Services(Accounts Clerical)
Yes Reduction inindustry coreunits. Reductionof sector coreand inclusion ofFNSICGEN305Ain sector core.Increase inelective unit
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requirements.
FNS30404 Certificate III inFinancialServices(MercantileAgents)
Nil Nil Notapplicable
New qualification
FNS40104 Certificate IV inFinancialServices
FNB40199 Certificate IV inFinancial Services
Yes Reduction inprerequisiteindustry coreunits. Inclusionof new industrycore unit.Reduction ofelectives from 10to 9.
FNS40204 Certificate IV inFinancialServices(Personal TrustAdministration)
FNB40299 Certificate IV inFinancial Services(Personal TrustAdministration)
Yes Reduction inprerequisiteindustry coreunits. Inclusionof new industrycore unit.Reduction ofsector core unitsfrom 9 to 5.Inclusion of newsector core -FNSPERT402A.
FNS40304 Certificate IV inFinancialServices (CreditManagement)
FNB40399 Certificate IV inFinancial Services(CreditManagement/MercantileAgents)
Yes Reduction inprerequisiteindustry coreunits. Inclusionof new industrycore unit. Nochange to sectorcorerequirements.
FNS40404 Certificate IV inInsuranceServices
FNB40401 Certificate IV inFinancial Services(General Insurance)
Yes Reduction inprerequisiteindustry coreunits. Inclusionof new industrycore unit.Reduction of onein sector corerequired fromselection of 6transferred fromFNB50701sector
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core and fournew sector coreoptions.
FNS40504 Certificate IV inFinancialServices(InsuranceAssessmentServices)
FNB40501 Certificate IV inFinancial Services(InsuranceAssessment Services)
Yes Reduction inprerequisiteindustry coreunits. Inclusionof new industrycore unit. Nochange to sectorcorerequirements.
FNS40604 Certificate IV inFinancialServices(Accounting)
FNB40602 Certificate IV inFinancial Services(Accounting)
Yes Reduction inprerequisiteindustry coreunits. Inclusionof new industrycore unit. Nochange to sectorcorerequirements.
FNS40704 Certificate IV inFinancialServices(FinancialPracticeSupport)
FNB40702 Certificate IV inFinancial Services(Financial PlanningSupport)
Yes Reduction inprerequisiteindustry coreunits. Inclusionof new industrycore unit. Nochange to sectorcorerequirements.
FNS40804 Certificate IV inFinancialServices(Finance/MortgageBroking)
Nil Nil Notapplicable
New qualification
FNS40904 Certificate IV inFinancialServices(Superannuation)
FNB40803 Certificate IV inFinancial Services(Superannuation)
Yes Reduction inprerequisiteindustry coreunits. Inclusionof new industrycore unit whichreplacesprevious sectorcore unitFNBSUP01A.Reduction ofsector core from
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5 to 4 andreplacement ofFNBSUP07AwithFNSICGEN404A.
FNS50104 Diploma ofFinancialServices
FNB50199 Diploma of FinancialServices
Yes Reduction inprerequisiteindustry coreunits. No changeto electiverequirements.
FNS50204 Diploma ofAccounting
FNB50202 Diploma of Accounting Yes Reduction inprerequisite andprerequisiteindustry coreunits. No changeto sector corerequirements.
FNS50304 Diploma ofFinancialServices(InsuranceBroking)
FNB50399 Diploma of FinancialServices (InsuranceBroking)
Yes Reduction inprerequisiteindustry coreunits. Sectorcore reducedfrom 8 to 6 froma selectionbased onFNB50399sector core.Removal ofFNBBRK53Afrom possiblesector core andaddition ofFNSINBK507A.
FNS50404 Diploma ofInsuranceServices
FNB50499 Diploma of FinancialServices (Distribution)
Yes -PathwayOptions 2& 3
Reduction inprerequisiteindustry coreunits. Sectorcore increasedfrom 4 to 5.Sector corebased onFNB50499sector core.
FNS50404 Diploma ofInsuranceServices
FNB50599 Diploma of FinancialServices (LossAdjusting)
Yes -PathwayOption 1
Reduction inprerequisiteindustry coreunits. Sector
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core reducedfrom 8 to 5 froma selectionbased onFNB50499sector core.
FNS50404 Diploma ofInsuranceServices
FNB50701 Diploma of FinancialServices (GeneralInsurance)
Yes Reduction inprerequisiteindustry coreunits. Increase insector corerequired by onefrom selection of7 transferredfromFNB50701sectorcore and fournew sector coreoptions.
FNS50504 Diploma ofFinancialServices(Finance/MortgageBrokingManagement)
Nil Nil Notapplicable
New qualification
FNS50604 Diploma ofFinancialServices(Conveyancing)
FNB50601 Diploma of FinancialServices(Conveyancing)
Yes Reduction inprerequisiteindustry coreunits. PreviousBSB sector coreunit replacedwithFNSICORG510A.No change tosector corerequirements.
FNS50704 Diploma ofFinancialServices(PersonalTrustees)
Nil Nil Notapplicable
New qualification
FNS50804 Diploma ofFinancialServices(FinancialPlanning)
FNB50802 Diploma of FinancialServices (FinancialPlanning)
Yes Reduction inprerequisiteindustry coreunits. No changeto sector corerequirements.
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FNS50904 Diploma ofFinancialServices(Superannuation)
FNB50903 Diploma of FinancialServices(Superannuation)
Yes Reduction inprerequisiteindustry coreunits. No changeto sector corerequirements.
FNS51004 Diploma ofFinancialServices(FinancialMarkets)
Nil Nil Notapplicable
New qualification
FNS51104 Diploma ofFinancial RiskManagement
Nil Nil Notapplicable
New qualification
FNS51204 Diploma ofFinancialServices(Banking)
Nil Nil Notapplicable
New qualification
FNS51304 Diploma ofFinancialServices(ConsumerEducation)
Nil Nil Notapplicable
New qualification
FNS60104 AdvancedDiploma ofFinancialServices
FNB60199 Advanced Diploma ofFinancial Services
Yes Reduction inprerequisiteindustry coreunits. No changeto electiverequirements.
FNS60204 AdvancedDiploma ofAccounting
FNB60202 Advanced Diploma ofAccounting
Yes Reduction inprerequisiteindustry coreunits. No changeto sector corerequirements.
FNS60304 AdvancedDiploma ofFinancialServices(Conveyancing)
FNB60301 Advanced Diploma ofFinancial Services(Conveyancing)
Yes Reduction inprerequisiteindustry coreunits. No changeto sector corerequirements.
FNS60404 AdvancedDiploma ofFinancialServices(Financial
FNB60402 Advanced Diploma ofFinancial Services(Financial Planning)
Yes Reduction inprerequisiteindustry coreunits. No changeto sector core
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Planning) requirements.
FNS60504 AdvancedDiploma ofFinancialServices(Superannuation)
FNB60503 Advanced Diploma ofFinancial Services(Superannuation)
Yes Reduction inprerequisiteindustry coreunits. PreviousBSB sector coreunit replacedwithFNSSUPR601A.No change toother sector corerequirements.
FNB99 to Version 1 of FNS04 Financial Services Training Package -Mapping of Competency Standards
FNS04 Unit Code FNS04 Unit Title FNB99 UnitCode
FNB99 Unit Title Comment inrelation topreviousiteration of theTrainingPackage
IndustryCapability -Generic
FNSICGEN301A Communicate inthe workplace
FNARFS02A
FNBFS02A
Communicate inthe workplace
Communicate inthe workplace
Change inElements andPCs.
Change inElements andPCs.
FNSICGEN302A Use technology inthe Workplace
FNBFS04B
FNARFS04A
Use technology inthe workplace
Use technology inthe workplace
Change inElements andPCs.
Change inElements andPCs.
FNSICGEN303A Work with others FNBFS03B
FNARFS03A
Work as part of ateam
Work as part of ateam
Outcomesdeemed asequivalent.
Outcomesdeemed asequivalent.
FNSICGEN304A Apply health andsafety practices in
FNBFS05A
FNARFS05A
Apply health andsafety practices in
Change inElements and
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the workplace the workplace
Apply OH&Spractices in theworkplace
PCs. Outcomesdeemed asequivalent.
Change inElements andPCs. Outcomesdeemed asequivalent.
FNSICGEN305A Maintain dailyfinancial/businessrecords
FNAPTA07A Maintain dailyfinancial records
Change inElements andPCs.
FNSICGEN401A Participate informalcommunicationprocesses
Not Applicable Not Applicable This is a newunit ofcompetency.
FNSICGEN402A Participate innegotiations
FNBGEN01A Participate innegotiations
Outcomesdeemed asequivalent.
FNSICGEN403A Collect, assessand useinformation
FNBCOM08A
FNBGDS73A
Collect, assessand useinformation
Utilise informationto enableinformed decisionmaking
Unit merged withFNBGDS73A.Change inElements andPCs.
Unit merged withFNBCOM08A.Change inElements andPCs.
FNSICGEN404A Resolve disputes FNBGEN21A
FNBCOM11A
FNBSUP07A
Resolve insurancedisputes
Resolve disputes
Undertakeeffectivecommunicationswith members andhandle complaints
Unit merged withFNBCOM11AandFNBSUP07A.Change inElements andPCs.
Unit merged withFNBGEN21AandFNBSUP07A.Change inElements andPCs.
Unit merged withFNBGEN21AandFNBCOM11A.Change in
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Elements andPCs.
FNSICGEN501A Produce researchreports and makepresentations
FNBCOM09A
FNBFIN67A
Collateinformation andprepare reports
Producemanagementreports to enableeffective decisionmaking
Unit merged withFNBFIN67A.Change inElements andPCs.
Unit merged withFNBCOM09A.Change inElements andPCs.
FNSICGEN502A Solve workplaceproblems.
Not Applicable Not Applicable This is a newunit ofcompetency.
IndustryCapability -IndustryKnowledge
FNSICIND301A Work in thefinancialservices industry
FNBFS01B
FNARFS01A
FNBSUP01A
Work within aFinancial Servicescontext
Work within a retailfinancial servicesindustry context
Work within thesuperannuationindustry
Unit merged withFNARFS01A andFNBSUP01A.Change inElements andPCs.
Unit merged withFNBFS01B andFNBSUP01A.Change inElements andPCs.
Unit merged withFNBFS01B andFARFS01Change inElements andPCs.
FNSICIND401A Apply principlesof professionalpractice to workin the financialservices industry
Not Applicable Not Applicable This is a new unitof competency.
IndustryCapability -OrganisationalSkills
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FNSICORG301A Administer fixedasset register
FNARFS25A Administer fixedasset register
Outcomesdeemed asequivalent.
FNSICORG302A Prepare reportsfor management
FNBFIN68A Prepare reports formanagement
Outcomesdeemed asequivalent.
FNSICORG401A Contribute toresourceplanning
Not Applicable Not Applicable This is a new unitof competency.
FNSICORG402A Work withspecialist andoutsourcedservices
FNBSUP05A Work withspecialist andoutsourcedservices
Change inElements andPCs.
FNSICORG501A Develop abudget
FNBGDS76A Prepare, monitorand analysebudgets
Change inElements andPCs.
FNSICORG502A Manage abudget
Not Applicable Not Applicable This is a new unitof competency.
FNSICORG503A Develop anoperational plan
FNBCOM03A Develop anOperationalBusiness Plan
Change inElements andPCs.
FNSICORG504A Implement anoperational plan
FNBCNV16A Implementoperational plansto achievestrategic targets
Change inElements andPCs.
FNSICORG505A Manage staffperformance toachieve strategictargets
FNAPTA16A
FNAPTA20A
FNBCNV13A
Manage a teamwithin the PersonalTrust function ofthe Corporation
Manage thePersonal Trustfunction of the Unit
Manage staffperformance toachieve strategictargets
Unit merged withFNAPTA20A andFNBCNV13A.Change inElements andPCs.
Unit merged withFNAPTA16A andFNBCNV13A.Change inElements andPCs.
Unit merged withFNAPTA16A andFNAPTA20A.Change inElements andPCs.
FNSICORG506A Develop andmonitor policy
FNBFIN58A Develop andmonitor financial
Unit merged withFNACRM10B.
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and procedures FNACRM10B policy statementsand operatingprocedures
Develop andmaintain creditpolicy andprocedures
Change inElements andPCs.
Unit merged withFNBFIN58A.Change inElements andPCs.
FNSICORG507A Develop aresource plan
Not Applicable Not Applicable This is a new unitof competency.
FNSICORG508A Manage aproject
Not Applicable Not Applicable This is a new unitof competency.
FNSICORG509A Maintain integrityof financialsystems
FNBFIN64A
FNARFS27A
Maintain integrityof financialsystems
Maintain integrityof financialsystems
Unit equivalent toFNARFS27A.Change inElements andPCs. Outcomesdeemed asequivalent.
Unit equivalent toFNBFIN64A.Change inElement andPCS. Outcomesdeemed asequivalent.
FNSICORG510A Manage ownprofessionaldevelopment
Not Applicable Not Applicable This is a new unitof competency.
FNSICORG511A Manage the stafftraining function
FNBCNV14A Manage stafftraining
Change inElements andPCs.
FNSICORG512A Act as formalcomplaintsofficer
FNBSUP21A Act as formalcomplaints officer
Change inElements andPCs. Outcomesdeemed asequivalent.
FNSICORG513A Implementquality systemswithin work area
FNBSUP14A Implement qualitysystems withinwork area
Outcomesdeemed asequivalent.
FNSICORG514A Supervise workwithin a financialservices context
FNBSUP13A Supervise workwithin thesuperannuationindustry
Change inElements andPCs.
FNSICORG515A Provide Not Applicable Not Applicable This is a new unit
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mentoring andcoaching in theworkplace
of competency.
FNSICORG516A Prepare financialreports to meetstatutoryrequirements
FNBFIN71A Prepare financialreports to meetstatutoryrequirements
Minor change toPCs. Outcomesdeemed asequivalent.
FNSICORG517A Prepare financialforecasts andprojections
FNBFIN70A Prepare financialforecasts andprojections
Outcomesdeemed asequivalent.
FNSICORG518A Implementbusinesspractices
FNBLDS91A Implementbusiness practices
Minor change inElements andPCs. Outcomesdeemed asequivalent.
FNSICORG519A Analyse andcomment onmanagementreports
FNBFIN69A Analyse andcomment onmanagementreports
Outcomesdeemed asequivalent.
FNSICORG601A Preparestrategic plans
FNBCNV15A Prepare practicestrategic plans
Change inElements andPCs.
FNSICORG602A Recruit, selectand induct staff
FNBCNV10A Manage therecruitment,selection andinduction of staff
Outcomesdeemed asequivalent.
FNSICORG603A Negotiate toachieve goalsand managedisputes
FNBCNV04A Negotiate toachieve goals andmanage disputes
Outcomesdeemed asequivalent.
FNSICORG604A Provideleadership andmotivation to in aworkplace team
FNBCNV12A Provide leadershipand motivation toall staff
Outcomesdeemed asequivalent.
FNSICORG605A Draw up andexecutiveemploymentcontracts.
FNBCNV11A Manage staffemployment
Outcomesdeemed asequivalent.
FNSICORG606A Manage flow ofinformation
FNBCNV17A
FNBFPS22A
Manage the flow ofinformation in thepractice
Manage the flow ofinformation in afinancial planning
Unit merged withFNBFPS22A.Change inElements andPCs.
Unit merged with
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practice FNBCNV17A.Change inElements andPCs.
FNSICORG607A Developsystems
FNBFIN57A Develop financialsystems
Outcomesdeemed asequivalent.
FNSICORG608A Control a budget FNBCNV09A Control practicebudget
Outcomesdeemed asequivalent.
FNSICORG609A Develop andmanage financialsystems
FNBCNV19A Manage efficientfinancial systems
Outcomes deemedas equivalent.
FNSICORG610A Manageinfrastructure
FNBCNV08A Manage practiceactivities
Outcomes deemedas equivalent.
FNSICORG611A Manage theselection andimplementationof informationtechnologysystems
FNBSUP30A Manage theselection andimplementation ofinformationtechnologysystems
Outcomes deemedas equivalent.
FNSICORG612A Establish andprepareoperationalguidelines in afinancial servicesorganisation
FNBSUP26A Prepare,supervise andmonitoroperationalguidelines in asuperannuationorganisation
Outcomes deemedas equivalent.
FNSICORG613A Establishoutsourcedservices andmonitorperformance
FNBSUP22A Select andmonitorperformance ofoutsourcedservices
Minor change inPCs. Outcomesdeemed asequivalent.
IndustryCapability -CustomerRelationship
FNSICCUS301A Respond tocustomerenquiries
FNBCOM07A Respond tocustomerenquiries
Change inElements and PCs.
FNSICCUS302A Processcustomercomplaints
FNBFS06B
FNARFS15A
Resolvecustomercomplaints
Unit merged withFNARFS15A.Change inElements and PCs.
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Resolvecustomercomplaints
Unit merged withFNBFS06B.Change inElements and PCs.
FNSICCUS303A Provide inboundtelephoneservice
Not Applicable Not Applicable This is a new unitof competency.
FNSICCUS304A Provideoutboundtelephoneservice
Not Applicable Not Applicable This is a new unitof competency.
FNSICCUS305A Maintaincustomerdatabase
Not Applicable Not Applicable This is a new unitof competency.
FNSICCUS401A Deliver aprofessionalservice tocustomers
FNARFS14A Deliver a serviceto customers
Change inElements and PCs.
FNSICCUS402A Maintaincustomerrelationships
FNBGDS82A Provide on-goingsales service
Change inElements and PCs.
FNSICCUS403A Coordinate,evaluate andimprovecustomer service
FNARFS17A Coordinatesales/serviceperformance
Unit split andreplaced with 2new units. AlsoseeFNSICSAM601A.Change inElements and PCs.
FNSICCUS404A Implement aservice supportsystem
FNBGDS78A Provide andimplement salessupportmechanisms
Change inElements and PCs.
FNSICCUS501A Develop andnurturerelationships withclients, otherprofessionalsand third partyreferrers
FNBCNV03A Liaise withclients, otherprofessionals andthird parties
Change inElements and PCs.
FNSICCUS502A Monitor clientrequirements
Not Applicable Not Applicable This is a new unitof competency.
FNSICCUS503A Review serviceperformance
Not Applicable Not Applicable This is a new unitof competency.
FNSICCUS504A Manage Not Applicable Not Applicable This is a new unit
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businesscustomerrelationships
of competency.
FNSICCUS505A Managepremiumbusinesscustomerrelationships
Not Applicable Not Applicable This is a new unitof competency.
FNSICCUS506A Determine clientrequirementsand expectations
FNBASX01A Determine clientrequirements andexpectations
Change inElements and PCs.Outcomes deemedas equivalent.
FNSICCUS507A Record andimplement clientinstructions
FNBASX04A Record andimplement clientinstructions
Minor change inElements and PCs.Outcomes deemedas equivalent.
FNSICCUS601A Establish,manage andmonitor keyrelationships
FNBSUP24A
FNBFPS19A
Establish,manage andmonitor keyrelationships
Establish,supervise andmonitor keyrelationships
Unit merged withFNBFPS19A.Change inElements and PCs.
Unit merged withFNBSUP24A.Change inElements and PCs.Outcomes deemedas equivalent.
FNSICCUS602A Implementcustomer servicestrategy
FNBCNV18A Implement clientservice strategy
Outcomes deemedas equivalent.
IndustryCapability -Product Skills
FNSICPRO401A Develop andmaintain in-depthknowledge ofproducts andservices used byyour organisationor sector
Not Applicable Not Applicable This is a new unit ofcompetency.
FNSICPRO402A Match financialproducts tocustomer needs
Not Applicable Not Applicable This is a new unit ofcompetency.
FNSICPRO403A Tailor aproduct/service to
FNBGDS81A Tailor aninsurance
Change inElements and PCs.
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meet customerneeds
package to meetcustomer needs
FNSICPRO501A Allocateauthorities andguidelines fordistribution
FNBGDS74A Allocateauthorities andguidelines fordistribution
Minor change toPCs. Outcomesdeemed asequivalent.
FNSICPRO502A Conduct productresearch tosupportrecommendations
FNBASX03A Conduct researchto supportrecommendations
Minor change inElements and PCs.
FNSICPRO601A Develop afinancial product
FNBCOM04A
FNARFS22A
Managedevelopment ofInsuranceProduct
Develop financialmodel/product
Unit merged withFNARFS22A.Change inElements and PCs.
Unit merged withFNBCOM04A.Change inElements and PCs.
FNSICPRO602A Establishagreements withintermediaries forproductdistribution
FNBGDS75A Establishagreements withintermediaries forproductdistribution
Outcomes deemedas equivalent.
FNSICPRO603A Develop abusiness plan fora financialproduct
FNBCOM02A Develop aProduct BusinessPlan
Change inElements and PCs.
FNSICPRO604A Coordinateimplementation ofproduct/fundsupport systems
FNBCOM06A Coordinateimplementation ofProduct/FundSupport Systems
Outcomes deemedas equivalent.
IndustryCapability -Sales andMarketing
FNSICSAM301A Identifyopportunities forcross sellingproducts andservices
FNARFS16A
FNAPTA06A
FNAPTA15A
Sell/cross sellproducts andservices
Promote andcross sell theservices of theTrust Corporationto existing clients
Promote and
Unit merged withFNAPTA06A andFNAPTA15A.Change inElements and PCs.
Unit merged withFNARFS16A andFNAPTA15A.Change inElements and PCs.
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cross sell theservices of theTrust Corporationto existing andpotential clients
Unit merged withFNARFS16A andFNAPTA06A.Change inElements and PCs.
FNSICSAM401A Sell financialproducts andservices
FNBGDS80A Convert a singleline productenquiry tomaximise sales
Change inElements and PCs.
FNSICSAM402A Implement asales plan
FNBBRK44A
FNARFS18A
Implement theService SalesPlan
Implement salesand marketingplans
Unit merged withFNARFS18A.Change inElements and PCs.
Unit merged withFNBBRK44A. Unitalso replaced withFNSICSAM504A.Change inElements and PCs.
FNSICSAM403A Prospecting fornew clients
Not Applicable Not Applicable This is a new unit ofcompetency.
FNSICSAM501A Develop a salesplan
Not Applicable Not Applicable This is a new unit ofcompetency.
FNSICSAM502A Apply advancedselling techniquesto selling offinancial productsand services
Not Applicable Not Applicable This is a new unit ofcompetency.
FNSICSAM503A Develop amarketing plan
FNBLDS93A
FNAPTA19A
Promote services
Generate furtherbusiness for theTrust Corporationfrom potentialclients
Unit merged withFNAPTA19A. Unitalso split into 2 newunits (also seeFNSICSAM505A).Change inElements and PCs.
Unit merged withFNBLDS93A.Change inElements and PCs.
FNSICSAM504A Implement,monitor andevaluatemarketing plans
FNBCOM05A
FNARFS18A
FNBLDS93A
Implement aProductMarketing Plan
Implement salesand marketingplans
Unit merged withFNARFS18A andFNBLDS93A.Change inElements and PCs.
Unit merged withFNBCOM05A and
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Promote services FNARFS18A. Unitalso replaced withFNSICSAM402A.Change inElements and PCs.
Unit merged withFNBCOM05A andFNARFS18A. Unitalso split into 2 newunits (also seeFNSICSAM503A).Change inElements and PCs.
FNSICSAM505A Assess marketneeds
FNBCOM01A Assess marketneeds
Change inElements and PCs.
FNSICSAM506A Monitor marketopportunities
FNBGDS79A Monitor marketopportunities
Outcomes deemedas equivalent.
FNSICSAM601A Monitorperformance insales of financialproducts orservices
FNARFS17A Co-ordinatesales/serviceperformance
Unit split andreplaced with 2 newunits. Also seeFNSICCUS403A.Change inElements and PCs.
FNSICSAM602A Identify andevaluatemarketingopportunities inthe financialservices industry
FNBSUP31A Identify andevaluatemarketingopportunities inthesuperannuationindustry
Outcomes deemedas equivalent.
IndustryCapability -AccountManagement
FNSICACC301A Administeraccounts payable
FNARFS26A Administeraccounts payable
Minor changein Elementsand PCs.Outcomesdeemed asequivalent.
FNSICACC302A Administerfinancial accounts
FNACRM02B Administeraccounts
Outcomesdeemed asequivalent.
FNSICACC303A Prepare, matchand process
FNBFIN60A Prepare, matchand process
Minor changeto PCs.
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receipts receipts Outcomesdeemed asequivalent.
FNSICACC304A Prepare and bankreceipts
FNBFIN61A Prepare and bankreceipts
Minor changeto PCs.Outcomesdeemed asequivalent.
FNSICACC305A Process paymentdocumentation
FNBFIN63A Process paymentdocumentation
Minor changeto PCs.Outcomesdeemed asequivalent.
FNSICACC306A Process journalentries
FNBFIN65A Process journalentries
Outcomesdeemed asequivalent.
FNSICACC307A Reconcile andmonitor accountsreceivable
FNBFIN66A Reconcile andmonitor accountsreceivable
Outcomesdeemed asequivalent.
FNSICACC401A Evaluate andauthorisepayment requests
FNBFIN62A Evaluate andauthorise paymentrequests
Outcomesdeemed asequivalent.
IndustryCapability -Advice
FNSICADV301A Provide generaladvice onfinancial productsand services
Not Applicable Not Applicable This is a newunit ofcompetency.
FNSASIC301A Establish clientrelationship andanalyse needs
FNBASC01A Establish clientrelationship andanalyse needs
Outcomesdeemed asequivalent.
FNSASIC302A Develop, presentand negotiateclient solutions
FNBASC02A Develop, presentand negotiateclient solutions
Outcomesdeemed asequivalent.
FNSASIC503SA Provide advice inForeignExchange
Not Applicable Not Applicable This is a newunit ofcompetency.
FNSASIC503TA Provide advice inManagedInvestments
FNBASC03TA Provide advice inManagedInvestments
Outcomesdeemed asequivalent.
FNSASIC503UA Provide advice inSuperannuation
FNBASC03UA Provide advice inSuperannuation
Outcomesdeemed as
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equivalent.
FNSASIC503VA Provide advice inDerivatives
FNBASC03VA Provide advice inDerivatives
Outcomesdeemed asequivalent.
FNSASIC503WA Provide advice inSecurities
FNBASC03WA Provide advice inSecurities
Outcomesdeemed asequivalent.
FNSASIC503XA Provide advice inLife Insurance
FNBASC03XA Provide advice inLife Insurance
Outcomesdeemed asequivalent.
FNSASIC503YA Provide advice inInsurance Broking
FNBASC03YA Provide advice inInsurance Broking
Outcomesdeemed asequivalent.
FNSASIC503ZA Provide advice inFinancialPlanning
FNBASC03ZA Provide advice inFinancial Planning
Outcomesdeemed asequivalent.
FNSICADV501A Provideappropriateservices, adviceand products toclients
FNBLDS89A Provideappropriateservices, adviceand products toclients
Minor changein PCs.Outcomesdeemed asequivalent.
FNSICADV502A Provideappropriate andtimely informationand advice toclients
FNBASX02A Provideappropriate andtimely informationand advice toclients
Minor changein Elementsand PCs.Outcomesdeemed asequivalent.
AccountingCompetencyStandards
FNSACCT401A Process businesstax requirements
FNBACC22A Process businesstax requirements
Outcomesdeemed asequivalent.
FNSACCT402A Produce jobcostinginformation
FNBACC23A Produce jobcosting information
Outcomesdeemed asequivalent.
FNSACCT403A Prepareoperationalbudgets
FNBACC24A Prepareoperationalbudgets
Outcomesdeemed asequivalent.
FNSACCT404A Make decisions ina legal context
FNBACC29A Make decisions ina legal context
Outcomesdeemed asequivalent.
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FNSACCT405A Prepare financialstatements
FNBACC31A Prepare financialstatements
Outcomesdeemed asequivalent.
FNSACCT406A Maintain assetand inventoryrecords
FNBACC32A Maintain asset andinventory records
Outcomesdeemed asequivalent.
FNSACCT407A Set up andoperate acomputerisedaccountingsystem
FNBACC21A Set up and operatea computerisedaccounting system
Outcomesdeemed asequivalent.
FNSACCT501A Provide financialand businessperformanceinformation
FNBACC01B Provide financialand businessperformanceinformation
Outcomesdeemed asequivalent.
FNSACCT502A Prepare incometax returns
FNBACC02B Prepare incometax returns
Outcomesdeemed asequivalent.
FNSACCT503A Manage budgetsand forecasts
FNBACC03B Manage budgetsand forecasts
Outcomesdeemed asequivalent.
FNSACCT504A Prepare financialreports for areporting entity
FNBACC04B Prepare financialreports for areporting entity
Outcomesdeemed asequivalent.
FNSACCT505A Establish andmaintainaccountinginformationsystems
FNBACC05B Establish andmaintainaccountinginformationsystems
Outcomesdeemed asequivalent.
FNSACCT506A Implement andmaintain internalcontrolprocedures
FNBACC06B Implement andmaintain internalcontrol procedures
Outcomesdeemed asequivalent.
FNSACCT507A Providemanagementaccountinginformation
FNBACC30A Providemanagementaccountinginformation
Outcomesdeemed asequivalent.
FNSACCT601A Prepare complextax returns andlodgements
FNBACC07B Prepare complextax returns andlodgements
Outcomesdeemed asequivalent.
FNSACCT602A Audit and reporton financialsystems andrecords
FNBACC09B Audit and report onfinancial systemsand records
Outcomesdeemed asequivalent.
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FNSACCT603A Implement taxplans andevaluate taxcompliance
FNBACC10B Implement taxplans and evaluatetax compliance
Outcomesdeemed asequivalent.
FNSACCT604A Monitor corporategovernanceactivities
FNBACC11B Monitor corporatecomplianceactivities
Outcomesdeemed asequivalent.
FNSACCT605A Implementorganisationalimprovementprograms
FNBACC12B Implementorganisationalimprovementprograms
Outcomesdeemed asequivalent.
FNSACCT606A Conduct internalaudit
FNBACC13B Conduct internalaudit
Outcomesdeemed asequivalent.
FNSACCT607A Evaluate businessperformance
FNBACC14B Evaluate businessperformance
Outcomesdeemed asequivalent.
FNSACCT608A Evaluateorganisation'sfinancialperformance
FNBACC15B Evaluateorganisation'sfinancialperformance
Outcomesdeemed asequivalent.
FNSACCT609A Evaluate financialrisk
FNBACC16B Evaluate financialrisk
Outcomesdeemed asequivalent.
FNSACCT610A Develop andimplementfinancialstrategies
FNBACC17B Develop andimplement financialstrategies
Outcomesdeemed asequivalent.
FNSACCT611A Implement aninsolvencyprogram
FNBACC18A Implementsolvency program
Outcomesdeemed asequivalent.
FNSACCT612A Implementreconstructionplan
FNBACC19A Implementreconstruction plan
Outcomesdeemed asequivalent.
FNSACCT613A Prepare andanalysemanagementaccountinginformation
FNBACC27A Prepare andanalysemanagementaccountinginformation
Outcomesdeemed asequivalent.
FNSACCT614A Prepare complexcorporate financialreports
FNBACC28A Prepare complexcorporate financialreports
Outcomesdeemed asequivalent.
Conveyancing
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CompetencyStandards
FNSCONV501A Take instructionsin relation to atransaction
FNBCNV01A Take instructionsin relation to atransaction
Outcomesdeemed asequivalent.
FNSCONV502A Prepare and/oranalyse andexecutedocuments
FNBCNV05A Prepare and/oranalyse andexecutedocuments
Outcomesdeemed asequivalent.
FNSCONV503A Establish,manage andadminister trustaccounts
FNBCNV06A Establish, manageand administertrust accounts
Outcomesdeemed asequivalent.
FNSCONV504A Finaliseconveyancingtransactions
FNBCNV07A Finaliseconveyancingtransactions
Outcomesdeemed asequivalent.
FNSCONV601A Obtain andanalyse allinformation forthe transaction
FNBCNV02A Obtain andanalyse allinformation for thetransaction
Outcomesdeemed asequivalent.
Credit/LendingServicesCompetencyStandards
FNSCRDT301A Processapplications forcredit
FNACRM01B
FNARFS06A
Process creditapplications
Process loanapplications
Unit merged withFNARFS06A.Change inElements andPCs.
Unit merged withFNACRM01B.Change inElements andPCs.
FNSCRDT302A Assessapplications fordebt finance
Not Applicable Not Applicable This is a new unitof competency.
FNSCRDT303A Monitor andcontrol accounts
FNACRM04B Monitor andcontrol accounts
Change inElements andPCs. Outcomesdeemed asequivalent.
FNSCRDT401A Evaluate credit FNACRM03B Evaluate credit Outcomes
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applications applications deemed asequivalent.
FNSCRDT402A Settle applicationandarrangements fordebt finance
FNARFS07A Settle loans Change inElements andPCs.
FNSCRDT403A Determine andestablishappropriatesecurities tominimise risk
FNACRM07B Establishsecurities tominimise risk
Change inElements andPCs.
FNSCRDT404A Manage andrecover errantdebts
FNARFS08A
FNACRM05B
FNACRM08A
Administerconsumer loans
Managebad/doubtful debts
Manage accounts
Unit merged withFNACRM05BandFNACRM08A.Change inElements andPCs.
Unit merged withFNARFS08A andFNACRM08A.Change inElements andPCs.
Unit merged withFNARFS08A andFNACRM05B.Change inElements andPCs.
FNSCRDT501A Assess personaland corporateinsolvency
FNBCRM11A
FNBCRM12A
Introduction topersonal andcorporateinsolvency
Assess recoveryoutcomes fromformal andinformal personalinsolvencyadministrations
Unit merged withFNBCRM12A.Change inElements andPCs.
Unit merged withFNBCRM11A.
Change inElements andPCs.
FNSCRDT502A Sell debts Not Applicable Not Applicable This is a newunit ofcompetency.
DebtManagementCompetency
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Standards
FNSDMGT501A Promoteunderstanding ofthe role andeffective use ofconsumer credit
Not Applicable Not Applicable This is a newunit ofcompetency.
FNSDMGT502A Assist clients toidentify, addressand monitor ownfinancial situation
Not Applicable Not Applicable This is a newunit ofcompetency.
Finance/MortgageBrokingCompetencyStandards
FNSFMRK401A Prepare andpresent loanapplication tolender on behalf offinance ormortgage brokingclient
Not Applicable Not Applicable This is a newunit ofcompetency
FNSFMRK402A Provide financeand/or mortgagebroking services
Not Applicable Not Applicable This is a newunit ofcompetency
FNSFMRK403A Present brokingoptions to client
Not Applicable Not Applicable This is a newunit ofcompetency
FNSFMRK404A Manage self infinance and/ormortgage brokingindustry
Not Applicable Not Applicable This is a newunit ofcompetency
FNSFMRK501A Settle applicationand loanarrangements inthefinance/mortgagebroking industry
Not Applicable Not Applicable This is a newunit ofcompetency
FNSFMRK502A Identify anddevelop complexbroking options forclient
Not Applicable Not Applicable This is a newunit ofcompetency
FNSFMRK503A Present brokingoptions to client
Not Applicable Not Applicable This is a newunit of
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with complex needs competency
FNSFMRK504A Implement complexloan structures
Not Applicable Not Applicable This is a newunit ofcompetency
FinancialLiteracyCompetencyStandards
FNSFLIT201A Develop and use apersonal budget
Not Applicable Not Applicable This is a newunit ofcompetency
FNSFLIT202A Develop and use asavings plan
Not Applicable Not Applicable This is a newunit ofcompetency
FNSFLIT203A Developunderstanding ofdebt and consumercredit
Not Applicable Not Applicable This is a newunit ofcompetency
FNSFLIT204A Developunderstanding ofsuperannuation
Not Applicable Not Applicable This is a newunit ofcompetency
FNSFLIT205A Developunderstanding ofthe Australianfinancial systemand markets
Not Applicable Not Applicable This is a newunit ofcompetency
FNSFLIT501A Assist customers tobudget andmanage ownfinances
Not Applicable Not Applicable This is a newunit ofcompetency
FNSFLIT502A Facilitate customerawareness of theAustralian financialsystem andmarkets
Not Applicable Not Applicable This is a newunit ofcompetency
FNSFLIT503A Promote basicfinancial literacyskills
Not Applicable Not Applicable This is a newunit ofcompetency
FNSFLIT504A Facilitate customerunderstanding ofpersonal financialstatements
Not Applicable Not Applicable This is a newunit ofcompetency
FNSFLIT505A Facilitate customer Not Applicable Not Applicable This is a new
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or employeeunderstanding ofsuperannuation asan investment tool
unit ofcompetency
FinancialMarketsCompetencyStandards
FNSFMKT301A Completetransactionprocessing
FNBASX05A Completetransactionprocessing
Outcomesdeemed asequivalent.
FNSFMKT401A Reconcilefinancialtransaction
Not Applicable Not Applicable This is a newunit ofcompetency
FNSFMKT501A Analyse financialmarkets andinformation
Not Applicable Not Applicable This is a newunit ofcompetency
FNSFMKT502A Analyse financialmarket productsfor client
Not Applicable Not Applicable This is a newunit ofcompetency
FNSFMKT503A Advice clients onfinancial risk
Not Applicable Not Applicable This is a newunit ofcompetency
FNSFMKT504A Completesettlement andconfirmationprocesses
Not Applicable Not Applicable This is a newunit ofcompetency
FNSFMKT601A Price financialtransactions
Not Applicable Not Applicable This is a newunit ofcompetency
FNSFMKT602A Trade financialproducts
Not Applicable Not Applicable This is a newunit ofcompetency
FNSFMKT603A Implement andmanagecompliance withstockbrokingregulations andstandards
FNBASX06A Implement andmanagecompliance withStockbrokingregulations andstandards
Outcomesdeemed asequivalent.
FinancialPlanningCompetencyStandards
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FNSFPLN401A Extract andanalyseinformation onspecified financialstrategies andproducts to setguidelines
FNBFPS01A Extract andanalyseinformation onspecified financialstrategies andproducts to setguidelines
Outcomesdeemed asequivalent.
FNSFPLN402A Prepare financialplans to setstrategies andguidelines
FNBFPS02A Prepare financialplans to setstrategies andguidelines
Outcomesdeemed asequivalent.
FNSFPLN403A Implementfinancial plan topredeterminedguidelines
FNBFPS03A Implementfinancial plan topredeterminedguidelines
Outcomesdeemed asequivalent.
FNSFPLN501A Comply withfinancial planningpractice ethicaland operationalguidelines andregulations
FNBFPS04A Comply withfinancial planningpractice ethicaland operationalguidelines andregulatoryrequirements
Outcomesdeemed asequivalent.
FNSFPLN502A Conduct financialplanning analysisand research
FNBFPS05A Conduct financialplanning analysisand research
Outcomesdeemed asequivalent.
FNSFPLN503A Develop andprepare financialplan
FNBFPS06A Develop andprepare financialplan
Outcomesdeemed asequivalent.
FNSFPLN504A Implementfinancial plan
FNBFPS07A Implementfinancial plan
Outcomesdeemed asequivalent.
FNSFPLN505A Review financialplan and provideongoing service
FNBFPS08A Review financialplan and provideongoing service
Outcomesdeemed asequivalent.
FNSFPLN506A Meet with client todetermine clientrequirements andexpectations
FNBFPS09A
FNBFPS12A
Meet with client todiscuss needs andpreferences
Determine clientrequirements andexpectations
Unit merged withFNBFPS12A.Outcomesdeemed asequivalent.
Unit merged withFNBFP09A.Change inElements andPCs.
FNSFPLN507A Provide financial FNBFPS10A Provide financial Outcomes
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planning advice planning advice deemed asequivalent.
FNSFPLN508A Conduct complexfinancial planningresearch
FNBFPS11A Conduct complexfinancial planningresearch
Outcomesdeemed asequivalent.
FNSFPLN601A Provide technicaland professionalguidance
FNBFPS13A Provide technicaland professionalguidance
Outcomesdeemed asequivalent.
FNSFPLN602A Determine clientrequirements andexpectations forclients withcomplex needs
FNBFPS14A Determine clientrequirements andexpectations forclients withcomplex needs
Outcomesdeemed asequivalent.
FNSFPLN603A Providecomprehensivemonitoring andongoing service
FNBFPS15A Providecomprehensivemonitoring andongoing service
Outcomesdeemed asequivalent.
FNSFPLN604A Develop complexand/or innovativefinancial planningstrategies
FNBFPS16A Develop complexand/or innovativefinancial planningstrategies
Minor change inElements andPCs. Outcomesdeemed asequivalent.
FNSFPLN605A Present andnegotiatecomplex and/orinnovativefinancial plan tothe client
FNBFPS17A Present andnegotiate complexand/or innovativefinancial plan tothe client
Outcomesdeemed asequivalent.
FNSFPLN606A Implementcomplex and orinnovativefinancial plan
FNBFPS18A Implementcomplex and orinnovative financialplan
Outcomesdeemed asequivalent.
GeneralInsuranceCompetencyStandards
FNSGINS401A Provide technicalguidance
FNBGEN30A Provide technicalguidance
Outcomesdeemed asequivalent.
FNSGINS402A Inspect quality ofwork
FNBGEN31A Inspect quality ofwork
Outcomesdeemed asequivalent.
FNSGINS403A Estimate jobs FNBGEN32A Estimate jobs Outcomes
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deemed asequivalent.
FNSGINS404A Inspect damage anddevelop scope ofwork
FNBGEN33A Inspect damage anddevelop scope ofwork
Outcomesdeemed asequivalent.
FNSGINS405A Inspect vehiclesystems/componentsand determinepreferred repairaction
FNBGEN34A Inspect vehiclesystems/componentsand determinepreferred repairaction
Outcomesdeemed asequivalent.
FNSGINS406A Inspectvehicle/property forsaleable items anddetermine theirvalue
FNBGEN35A Inspectvehicle/property forsaleable items anddetermine theirvalue
Outcomesdeemed asequivalent.
InsuranceBrokingCompetencyStandards
FNSINBK301A Implementinsurance programfor broking clients
FNBBRK50A Implement new orrenewed InsuranceProgram
Minor change inElements andPCs. Outcomesdeemed asequivalent.
FNSINBK302A Place broking clientinsurance withinsurers
FNBBRK54A Place clientinsurances withinsurers and confirminsurance cover withclient
Unit split (alsoseeFNSINBK303A).Change inElements andPCs.
FNSINBK303A Confirm insurancecover with brokingclient
FNBBRK54A Place clientinsurances withinsurers and confirminsurance cover withclient
Unit split (alsoseeFNSINBK302A).Change inElements andPCs.
FNSINBK304A Provide a brokingclaims service toclients
FNBBRK55A Provide client claimsservice
Outcomesdeemed asequivalent.
FNSINBK501A Prepare a newbusinesssubmission for abroking client
FNBBRK46A Preparesubmissions for newbusiness
Minor change inElements andPCs. Outcomesdeemed asequivalent.
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FNSINBK502A Monitor clientrequirements
FNBBRK47A Monitor clientrequirements
Change inElements andPCs.
FNSINBK503A Implement changesto broking client'sinsurance program
FNBBRK48A ImplementInsurance Programchanges
Minor change inElements andPCs. Outcomesdeemed asequivalent.
FNSINBK504A Identify and adviseon significant riskchanges to brokingclient insurances
FNBBRK49A Identify and adviseon significantchanges to clientrisk exposure
Change inElements andPCs.
FNSINBK505A Assess andnegotiate complexrisk portfolio forbroker client atrenewal
FNBBRK51A Assess and renewcomplex riskportfolio
Change inElements andPCs.
FNSINBK506A Review incidence ofloss for brokingclients
FNBBRK52A Monitor and reviewincidence of loss
Change inElements andPCs.
FNSINBK507A Meet compliancerequirementsrelating to insurancebroking
NotApplicable
Not Applicable This is a new unitof competency
FNSINBK508A Negotiate complexclaims settlementfor insurancebroking client
FNBBRK56A Negotiate complexclaims settlement
Change inElements andPCs.
FNSINBK601A Develop guidelinesfor broking services
FNBBRK43A Develop guidelinesfor Broking services
Minor change inElements andPCs. Outcomesdeemed asequivalent.
FNSINBK602A Implement thebroking servicesystem
FNBBRK45A Implement theService SupportSystem
Minor change inElements andPCs. Outcomesdeemed asequivalent.
FNSINBK603A Review insurancebrokerage serviceperformance
FNBBRK53A Review serviceperformance
Change inElements andPCs. Outcomesdeemed asequivalent.
Life DistributionCompetency
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Standards
FNSLDIS501A Prepare adistribution plan
FNBLDS83A Prepare adistribution plan
Outcomesdeemed asequivalent.
FNSLDIS502A Resource thedistribution plan
FNBLDS84A Resourcedistribution plan
Outcomesdeemed asequivalent.
FNSLDIS503A Establish servicesto provide advice
FNBLDS85A Establish servicesto provide advice
Outcomesdeemed asequivalent.
FNSLDIS504A Implement andmanage thedistribution plan
FNBLDS86A Implement andmanage thedistribution plan
Outcomesdeemed asequivalent.
Life InsuranceCompetencyStandards
FNSLIFE301A Process and issuea life insurancepolicy
FNBLIF28A Process and issuenew businessproposal
Minor changein PCs.Outcomesdeemed asequivalent.
FNSLIFE302A Receive andprocess servicerequests
FNBLIF31A Receive andprocess servicerequests
Outcomesdeemed asequivalent.
FNSLIFE303A Process policypayments andterminations
FNBLIF32A Process policypayments andterminations
Outcomesdeemed asequivalent.
FNSLIFE401A Undertake lifeinsurance riskassessment
FNBLIF29A Undertake riskassessment
Outcomesdeemed asequivalent.
FNSLIFE402A Settle policypayments andterminations
FNBLIF33A Settle policypayments andterminations
Outcomesdeemed asequivalent.
FNSLIFE501A Assessextraordinary risks
FNBLIF30A Assessextraordinary risks
Outcomesdeemed asequivalent.
Loss AdjustingCompetencyStandards
FNSLOSS501A Plan and FNBLOS94A Plan and Outcomes
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implement lossinvestigation
implement lossinvestigation
deemed asequivalent.
FNSLOSS502A Evaluate collectedinformation
FNBLOS95A Evaluate collectedinformation
Outcomesdeemed asequivalent.
FNSLOSS503A Report findingsand provideguidance toinvolved parties
FNBLOS96A Report findings andprovide guidance toinvolved parties
Outcomesdeemed asequivalent.
FNSLOSS504A Negotiate/effectsettlement
FNBLOS97A Negotiate/effectsettlement
Outcomesdeemed asequivalent.
FNSLOSS505A Provide ancillaryservices
FNBLOS98A Provide ancillaryservices
Outcomesdeemed asequivalent.
WorkersCompensationCompetencyStandards
FNSWCMP401A Plan andimplementrehabilitationand return towork strategies
FNBWKC25A Plan and implementrehabilitation andreturn to workstrategies
Outcomesdeemed asequivalent.
FNSWCMP402A Representworkerscompensationagent/insurerat conciliationand reviewhearings
FNBWKC26A Represent workerscompensationagent/insurer atconciliation andreview hearings
Outcomesdeemed asequivalent.
FNSWCMP403A Educate clientson workerscompensationissues
FNBWKC27A Educate clients onworkerscompensation issues
Outcomesdeemed asequivalent.
InsuranceServicesCompetencyStandards
FNSINSV301A Evaluate riskfor renewalbusiness
FNBGEN02A Evaluate risk forrenewal business
Outcomesdeemed asequivalent.
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FNSINSV302A Processalteration toinsurancepolicy
FNBGEN09A Process alteration toinsurance policy
Outcomesdeemed asequivalent.
FNSINSV303A Issue contractof insurance
FNBGEN08A Issue contract ofinsurance
Outcomesdeemed asequivalent.
FNSINSV304A Issue renewalbusiness
FNBGEN07A Issuerenewal/cancellationadvice
Unit split into 2new units (alsoseeFNSINSV305A).Change inElements andPCs.
FNSINSV305A Issuecancellationadvice
FNBGEN07A Issuerenewal/cancellationadvice
Unit split into 2new units (alsoseeFNSINSV304A).Change inElements andPCs.
FNSINSV306A Receive andrecord/ registerclaim
FNBGEN11A Receive and record/register claim
Minor change toPCs. Outcomesdeemed asequivalent.
FNSINSV307A Followcompanyprocedures toprocess claim
FNBGEN10A
FNBGEN13A
Follow companyprocedures toprocess claim
Accept or reject aclaim
Unit merged withFNBGEN13A.Change inElements andPCs.
Unit merged withFNBGEN10A.Change inElements andPCs.
FNSINSV308A Processfacultative andtreatyreinsuranceclaims
FNBGEN24A Process facultativeand treatyreinsurance claims
Outcomesdeemed asequivalent. AlsoseeFNSINSV504Awhich is derivedfromFNBGEN24A.
FNSINSV309A Settle claims FNBGEN14A Settle claims Outcomesdeemed asequivalent.
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FNSINSV310A Process aclaimspayments
FNBGEN16A Process a claimspayments
Change inElements andPCs.
FNSINSV401A Evaluate riskfor newbusiness
FNBGEN04A Evaluate risk for newbusiness
Minor change toPCs. Outcomesdeemed asequivalent.
FNSINSV402A Underwritenew business
FNBGEN05A Underwrite newbusiness
Outcomesdeemed asequivalent.
FNSINSV403A Surveypotential riskexposure
FNBGEN06A Survey potential riskexposure
Outcomesdeemed asequivalent.
FNSINSV404A Underwriterenewalbusiness
FNBGEN03A Underwrite renewalbusiness
Outcomesdeemed asequivalent.
FNSINSV405A Analyseinsuranceclaims
FNBGEN12A Analyse insuranceclaims
Minor change toPCs. Outcomesdeemed asequivalent.
FNSINSV406A Use specialistterminology ininsuranceclaims
Not Applicable Not Applicable This is a new unitof competency
FNSINSV501A Issue contractof insurancecoveringnon-routinesituations
FNBGEN22A Issue contract ofinsurance innon-routinesituations
Outcomesdeemed asequivalent.
FNSINSV502A Reviewoperationalperformance ofthe portfolio
FNBGEN20A Review operationalperformance ofportfolio
Outcomesdeemed asequivalent.
FNSINSV503A Undertake postloss riskmanagement
FNBGEN18A Undertake post lossrisk management
Minor change inPCs. Outcomesdeemed asequivalent.
FNSINSV504A Negotiatetreatyreinsurance
FNBGEN24A Process facultativeand treatyreinsurance claims
FNSINSV504A isa new unitderived fromFNBGEN24A.
FNSINSV505A Determine riskrating forinvestment and
Not Applicable Not Applicable This is a new unitof competency
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insuranceproducts
FNSINSV506A Investigateclaims
FNBGEN15A Investigate claims Outcomesdeemed asequivalent.
FNSINSV507A Implementclaim recoveryprocedures
FNBGEN17A Implement claimrecovery procedures
Change inElements andPCs.
FNSINSV508A Review claimssettlementpolicies andprocedures
FNBGEN19A Review claimssettlement policiesand procedures
Outcomesdeemed asequivalent.
FNSINSV509A Analysefinancial,medical andpsychologicalclaimsassessments
Not Applicable Not Applicable This is a new unitof competency
FNSINSV510A Case manageclaimsrehabilitation
Not Applicable Not Applicable This is a new unitof competency
FNSINSV511A Managenon-routine,complex claims
FNBLIF34A Resolve significantclaims
Unit split into 2new units (alsoseeFNSINSV512A).Change inElements andPCs.
FNSINSV512A Settlenon-routine,complex claims
FNBLIF34A
FNBGEN23A
Resolve significantclaims
Settle non-routine claims
Unit split into 2new units andmerged withFNBGEN23A(also seeFNSINSV511A).Change inElements andPCs.
Unit mergedwithFNBLIF34A.Change inElements andPCs.
FNSINSV513A Work with legalteams toresolve complex
Not Applicable Not Applicable This is a newunit ofcompetency
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claims
FNSINSV514A Providedecisions onlegal liabilityand indemnityof a claim
Not Applicable Not Applicable This is a newunit ofcompetency
FNSINSV515A Review andupdate claimreserves inportfolio
Not Applicable Not Applicable This is a newunit ofcompetency
FNSINSV516A Evaluate andreport on statusof claimsportfolio toidentifiedstakeholders
Not Applicable Not Applicable This is a newunit ofcompetency
MercantileAgentCompetencyStandards
FNSMERC301A Collect debts FNAMERC01B Collect debts Change inElements andPCs.
FNSMERC302A Repossessproperty
FNAMERC02B Repossess property Change inElements andPCs.
FNSMERC303A Serve legalprocess
FNAMERC03B Serve legal process Change inElements andPCs.
FNSMERC304A Locate subjects FNAMERC04B Locate subjects Change inElements andPCs.
FNSMERC401A Develop anddocument caserecommendations
FNAMERC05B Develop and documentcase recommendations
Outcomesdeemed asequivalent.
FNSMERC402A Initiate legalrecovery ofdebts
FNBMERC06A Initiate debt recovery Change inElements andPCs. Outcomesdeemed asequivalent.
PersonalTrusteesCompetency
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Standards
FNSPERT301A Establishentitlements toan intestateestate
Not Applicable Not Applicable This is a newunit ofcompetency
FNSPERT302A Administer anon-complexEstate
FNAPTA02A
FNAPTA03A
Identify assets andliabilities and prove thewill of non-complexestates
Administer non-complexdistributable Estates andTrusts
Unit mergedwithFNAPTA03A.Change inElements andPCs.
Unit mergedwithFNAPTA02A.Unit also splitand replacedwithFNSPERT303A.Change inElements andPCs.
FNSPERT303A Administer anon-complexTrust
FNAPTA03A Administer non-complexdistributable Estates andTrusts
Unit split andreplaced with 2new units (alsoseeFNSPERT302A).Change inElements andPCs.
FNSPERT401A Apply principlesof professionalpractice to workin the personaltrustee industry
Not Applicable Not Applicable This is a newunit ofcompetency
FNSPERT402A Administer anintestate estate
Not Applicable Not Applicable This is a newunit ofcompetency
FNSPERT403A Prepare a Will FNAPTA01A
FNAPTA08A
Prepare Wills forPersonal Clients
Assist clients in Estateplanning and preparecomplex wills
Unit mergedwithFNAPTA08A.Minor change inElements andPCs.
Unit mergedwithFNAPTA01A.
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Unit alsoreplaced withFNSPERT502A.Change inElements andPCs.
FNSPERT404A Administer acomplex Estate
FNAPTA09A
FNAPTA10A
Identify assets andliabilities and prove theWill of complex Estates
Administer complexEstates and Trusts
Unit mergedwithFNAPTA10A.Change inElements andPCs.
Unit mergedwithFNAPTA09AandFNAPTA17Aand split into 2new units (alsoseeFNSPERT405A).
Change inElements andPCs.
FNSPERT405A Administer acomplex Trust
FNAPTA10A
FNAPTA17A
Administer complexEstates and Trusts
Administer the mostcomplex and specialEstates and Trusts
Unit mergedwithFNAPTA09AandFNAPTA17Aand split into 2new units (alsoseeFNSPERT404A).Change inElements andPCs.
Unit mergedwithFNAPTA10A.Unit also splitand replacedwithFNSPERT407A.Change inElements andPCs.
FNSPERT406A EstablishPowers ofAttorney or
FNAPTA04A
FNAPTA12A
Establish terms ofAttorneyship/Guardianship in
Unit mergedwithFNAPTA12A.
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acceptappointmentunder FinancialAdministrationOrders
non-complex situations
Establish terms ofAttorneyship/Guardianshipin complex situations
Minor change inElements andPCs. Outcomesdeemed asequivalent.
Unit mergedwithFNAPTA04A.Minor change inElements andPCs. Outcomesdeemed asequivalent.
FNSPERT407A AdministerPowers ofAttorney orFinancialAdministrationOrders
FNAPTA05A
FNAPTA13A
FNAPTA17A
Carry out Terms ofAttorneyship/Guardianship innon-complex situations
Carry out terms ofAttorneyship/Guardianshipin complex situations
Administer the mostcomplex and specialEstates and Trusts
Unit mergedwithFNAPTA13AandFNAPTA17A.Minor change inElements andPCs. Outcomesdeemed asequivalent.
Unit mergedwithFNAPTA05AandFNAPTA17A.Minor change inElements andPCs. Outcomesdeemed asequivalent.
Unit mergedwithFNAPTA05AandFNAPTA13A.Unit also splitand replacedwithFNSPERT405A.Change inElements andPCs.
FNSPERT501A Advise clientson truststructures
Not Applicable Not Applicable This is a newunit ofcompetency
FNSPERT502A Advise clients in FNAPTA08A Assist clients in Estate Unit split and
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estate planning planning and preparecomplex wills
replaced with 2new units (alsoseeFNSPERT403A).Change inElements andPCs.
FNSPERT503A Allocate, assessand supervisework within thepersonal trusteesector
FNAPTA11A
FNAPTA14A
FNAPTA18A
Supervise preparation ofWills and administrationof non complex Estates
Supervise theestablishment andadministration ofAttorneyship/Guardianshipin non complex situations
Assess and allocateEstates, supervise thepreparation of Wills andadministration ofcomplex special Estatesand Trusts
Unit mergedwithFNAPTA14AandFNAPTA18A.Change inElements andPCs.
Unit mergedwithFNAPTA11AandFNAPTA18A.
Change inElements andPCs.
Unit mergedwithFNAPTA11AandFNAPTA14A.Minor change inElements andPCs. Outcomesdeemed asequivalent.
PracticeManagementCompetencyStandards
FNSPRAC501A Manage andmaintainsmall/mediumbusinessoperations
Not Applicable Not Applicable This is a new unitof competency
FNSPRAC601A Establish,supervise andmonitor practicesystems toconform with
FNBFPS23A Establish,supervise andmonitor financialplanning practicesystems to ensure
Change inElements andPCs.
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legislation andregulations
conformity withlegislative andregulatoryrequirements
FNSPRAC602A Improve thepractice
Not Applicable Not Applicable This is a new unitof competency
FNSPRAC603A Grow thepractice
Not Applicable Not Applicable This is a new unitof competency
FNSPRAC701A Prepare,supervise andmonitorapplication ofpracticeguidelines
FNBFPS20A Prepare,supervise andmonitorapplication offinancial planningpractice guidelines
Change inElements andPCs. Outcomesdeemed asequivalent.
FNSPRAC702A Establish orreviewmarketing, clientservices andsupplierrelationships
FNBSUP25A
FNBFPS21A
Establish,supervise andmonitorsuperannuationsystems toconform withlegislative andregulatoryrequirements
Establish servicesto providefinancial planningadvice
Unit merged withFNBFPS21A andsplit into 2 newunits (also seeFNSPRAC703A).Change inElements andPCs.
Unit merged withFNBSUP25A andsplit into 2 newunits (also seeFNSPRAC703A).
Change inElements andPCs.
FNSPRAC703A Establish orreview humanresources,administrationand informationsupport
FNBSUP25A
FNBFPS21A
Establish,supervise andmonitorsuperannuationsystems toconform withlegislative andregulatoryrequirements
Establish servicesto providefinancial planningadvice
Unit merged withFNBFPS21A andsplit into 2 newunits (also seeFNSPRAC702A).Change inElements andPCs.
Unit merged withFNBSUP25A andsplit into 2 newunits (also seeFNSPRAC702A).
Change inElements andPCs.
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RiskManagementCompetencyStandards
FNSRISK501A Undertake riskidentification
Not Applicable Not Applicable This is a new unitof competency
FNSRISK502A Assess risks Not Applicable Not Applicable This is a new unitof competency
FNSRISK601A Develop andimplement riskmitigation plan
Not Applicable Not Applicable This is a new unitof competency
FNSRISK602A Determine andmanage riskexposurestrategies
Not Applicable Not Applicable This is a new unitof competency
ComplianceCompetencyStandards
FNSCOMP401A Conductindividual workwithin acomplianceframework
Not Applicable Not Applicable This is a new unitof competency
FNSCOMP402A Facilitatecompliance withstatutory,legislative andregulatoryrequirements viastaff education
FNACRM06B
FNACRM09B
Facilitatecompliance withStatutory,Legislative andLegalrequirements
Managecompliance withstatutory,legislative andlegalrequirements
Unit merged withFNACRM09B.Change inElements andPCs.
Unit merged withFNACRM06B.Change inElements andPCs.
FNSCOMP501A Comply withfinancial serviceslegislation,industry andprofessionalcodes of practice
FNBLDS90A Comply withregulations
Change inElements andPCs.
FNSCOMP601A Interpret andmanage
FNBFIN59A
FNBCOM10A
Interpret statutoryand regulatory
Change inElements and
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statutory,legislative andregulatoryobligations fororganisationalcompliance
requirements andensurecompliance
Managecontractual,legislative andCode of Practiceobligations andrequirements
PCs.
Change inElements andPCs.
FNSCOMP602A Develop andimplementcompliancesystems
FNBSUP15A Implementcompliancesystems withinwork area
Change inElements andPCs.
Retail FinancialServicesCompetencyStandards
FNSRETA301A Providecustomer servicein a retail agency
Not Applicable Not Applicable This is a new unitof competency
FNSRETA302A Handle foreigncurrencytransactions
Not Applicable Not Applicable This is a new unitof competency
FNSRETA303A Monitor andmanagetransactions
Not Applicable Not Applicable This is a new unitof competency
FNSRETA304A Administer debitcard services
FNARFS11A Administer cardservices
Unit split into 2new units (alsoseeFNSRETA402A).Change inElements andPCs.
FNSRETA305A Processcustomeraccounts
FNARFS09A
FNARFS12A
Processcustomeraccounts
Processspecialistservices
Unit merged withFNARFS12A andsplit into 2 newunit (also seeFNSRETA306A).Change inElements andPCs.
Unit merged withFNARFS09A andsplit into 2 newunit (also see
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FNSRETA305A).Change inElements andPCs.
FNSRETA306A Processcustomertransactions
FNARFS09A
FNARFS12A
Processcustomeraccounts
Processspecialistservices
Unit merged withFNARFS12A andsplit into 2 newunit (also seeFNSRETA305A).Change inElements andPCs.
Unit merged withFNARFS09A andsplit into 2 newunit (also seeFNSRETA305A).Change inElements andPCs.
FNSRETA307A Maintain ATMservices
FNARFS10A Maintain ATMservices
Outcomesdeemed asequivalent.
FNSRETA308A Preparestatistical and adhoc reports
FNARFS19A Preparestatistical and adhoc reports
Outcomesdeemed asequivalent.
FNSRETA309A Balance cashholdings
FNARFS23A Balance cashholdings
Minor change inPCs. Outcomesdeemed asequivalent.
FNSRETA310A Maintain mainbank account
FNARFS24A Maintain mainbank account
Minor change inPCs. Outcomesdeemed asequivalent.
FNSRETA401A Communicatenew technologiesto customers
Not Applicable Not Applicable This is a new unitof competency
FNSRETA402A Administer creditcard services
FNARFS11A Administer cardservices
Unit split into 2new units (alsoseeFNSRETA304A).Change inElements andPCs.
FNSRETA403A Administerportfolios
FNARFS13A Administerportfolios
Outcomesdeemed as
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equivalent.
FNSRETA404A Preparegovernmentreturns
FNARFS20A Preparegovernmentreturns
Outcomesdeemed asequivalent.
FNSRETA501A Produce financialstatements
FNARFS21A Produce financialstatements
Outcomesdeemed asequivalent.
BankingCompetencyStandards
FNSBANK401A Coordinate a smallbusiness customerportfolio
Not Applicable Not Applicable This is a newunit ofcompetency
FNSBANK402A Align bankingproducts with theneeds of smallbusinesscustomers
Not Applicable Not Applicable This is a newunit ofcompetency
FNSBANK403A Provide services ina RuralTransaction Centre
Not Applicable Not Applicable This is a newunit ofcompetency
FNSBANK501A Manage bankingand servicestrategy for smallbusinesscustomers
Not Applicable Not Applicable This is a newunit ofcompetency
FNSBANK502A Manage servicesin a RuralTransaction Centre
Not Applicable Not Applicable This is a newunit ofcompetency
FNSBANK503A Provide businessadvisory serviceswithin a financialservices context
Not Applicable Not Applicable This is a newunit ofcompetency
Self ManagedSuperannuationFundsCompetencyStandards
FNSSMSF401A Process SelfManagedSuperannuationcontributions
Not Applicable Not Applicable This is a newunit ofcompetency
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FNSSMSF501A Invest SelfManagedSuperannuationFunds assets
Not Applicable Not Applicable This is a newunit ofcompetency
FNSSMSF502A Manage changesto fund structure
Not Applicable Not Applicable This is a newunit ofcompetency
FNSSMSF503A Manageadministrationactivities of asuperannuationfund
Not Applicable Not Applicable This is a newunit ofcompetency
FNSSMSF504A Meet SelfManagedSuperannuationFunds compliancerequirements
Not Applicable Not Applicable This is a newunit ofcompetency
FNSSMSF505A Support trustee inthe selection andperformancemonitoring ofoutsourcedservices
Not Applicable Not Applicable This is a newunit ofcompetency
FNSSMSF601A Provide advice inSelf ManagedSuperannuationFunds
Not Applicable Not Applicable This is a newunit ofcompetency
FNSSMSF602A Apply taxationrequirements whenadvising in SelfManagedSuperannuationFunds
Not Applicable Not Applicable This is a newunit ofcompetency
FNSSMSF603A Apply legislativeand operationalrequirements toadvising in SelfManagedSuperannuationFunds
Not Applicable Not Applicable This is a newunit ofcompetency
SuperannuationCompetencyStandards
FNSSUPR301A Establish,maintain and
FNBSUP02A Establish, processand maintain
Change inElements and
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processsuperannuationrecords
FNBSUP37A records
Maintain employerand memberrecords
PCs.
Change inElements andPCs.
FNSSUPR302A Processsuperannuationcontributions
FNBSUP03A Processsuperannuationcontributions
Outcomesdeemed asequivalent.
FNSSUPR303A ProcesssuperannuationETP benefits
FNBSUP04A ProcesssuperannuationETP benefits
Outcomesdeemed asequivalent.
FNSSUPR304A Implement trusteeinvestmentinstructions
FNBSUP39A Implement trusteeinvestmentinstructions
Outcomesdeemed asequivalent.
FNSSUPR305A Processsuperannuationfund payments
FNBSUP40A Processsuperannuationfund payments
Outcomesdeemed asequivalent.
FNSSUPR306A Terminatesuperannuationplans
FNBSUP42A Terminatesuperannuationplans
Change inElements andPCs.
FNSSUPR401A Process complexsuperannuationbenefit and/orinsurance claim
FNBSUP06A Process complexbenefits andinsurance claims
Change inElements andPCs. Outcomesdeemed asequivalent.
FNSSUPR402A Assist in meetingsuperannuationcompliancerequirements
FNBSUP08A Meetsuperannuationcompliancerequirements
Minor changeto PCs.Outcomesdeemed asequivalent.
FNSSUPR403A Work within adefined benefitfund
FNBSUP09A Work within adefined benefit fund
Change inElements andPCs.
FNSSUPR404A Administerretirement incomestreams
FNBSUP10A Administerretirement incomestreams
Outcomesdeemed asequivalent.
FNSSUPR405A Establish andcustomisecomplex employeraccounts
FNBSUP11A Establish andcustomise complexemployer accounts
Outcomesdeemed asequivalent.
FNSSUPR406A Implement fundreview practices
FNBSUP12A Participate in theimplementation ofquality assuranceand fund reviewpractices
Change inElements andPCs. Outcomesdeemed asequivalent.
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FNSSUPR407A Establish andmaintain fund orplan
FNBSUP35A Establish andmaintain fund orplan
Change inElements andPCs. Outcomesdeemed asequivalent.
FNSSUPR408A Assess complexsuperannuationbenefit and/orinsurance claims
FNBSUP41A Assess significantfund payments
Minor changein Elementsand PCs.Outcomesdeemed asequivalent.
FNSSUPR501A Supervisecomplaintsprocedures
FNBSUP16A Supervisecomplaintsprocedures
Change inElements andPCs.
FNSSUPR502A Supervise insurerliaison
FNBSUP17A Supervise insurerliaison
Change in PCs.Outcomesdeemed asequivalent.
FNSSUPR503A Develop clientrelationships withemployers andestablishsuperannuationsystems
FNBSUP18A Develop clientrelationships withemployers andestablishsuperannuationsystems
Outcomesdeemed asequivalent.
FNSSUPR504A Provide advancedcustomer serviceto superannuationclients
FNBSUP19A Provide advancedcustomer servicefor superannuationclients
Minor changein PCs.Outcomesdeemed asequivalent.
FNSSUPR505A Produce reportsforsuperannuation
FNBSUP20A Produce reports forsuperannuationservices
Outcomesdeemed asequivalent.
FNSSUPR506A Supervise andmonitoroperationalguidelines in asuperannuationorganisation
FNBSUP23A Supervise andmonitor operationalguidelines in asuperannuationorganisation
Outcomesdeemed asequivalent.
FNSSUPR507A Reviewcompliance withregulatory andcontractualrequirements
FNBSUP36A Review compliancewith regulatory andcontractualrequirements
Change inElements andPCs. Outcomesdeemed asequivalent.
FNSSUPR508A Provide effectiveinformation to
FNBSUP38A Provide effectiveinformation to
Outcomesdeemed as
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members members equivalent.
FNSSUPR601A Liaise with andsupport trustees
FNBSUP27A Liaise with andsupport trustees
Change inElements andPCs. Outcomesdeemed asequivalent.
FNSSUPR602A Manage officialcomplaintsprocedures andproceedings
FNBSUP28A Manage officialcomplaintsprocedures andproceedings
Minor changein PCs.Outcomesdeemed asequivalent.
FNSSUPR603A Integrateinvestmentstrategy with fundoperations
FNBSUP29A Integrateinvestment strategywith fundoperations
Outcomesdeemed asequivalent.
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FNS04 Financial Services Training PackageFinancial Services Training Package (Volume 1 -
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FNS04 Financial Services Training PackageFinancial Services Training Package (Volume 1 - Introduction, Qualifications Framework, Assessment
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