FNS04 Financial Services Training Package · FNS04 Financial Services Training Package - ... Overview ... Skill sets for corporate superannuation fund trustee work

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

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FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007Imprint Page


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


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


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


http://www.ntis.gov.au

http://www.ibsa.org.au

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



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)



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)



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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)


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.



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)


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.



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)




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



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



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


FNSICGEN401B Participate in formalcommunication processes

FNSICGEN401A Participate in formalcommunication processes

Employability Skills(ES) mandatorystatement inserted; KeyCompetenciesinformation removed.Code changed to



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.



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


FNSICGEN502A Solve workplace problems FNSICGEN502B Solve workplace problems Employability Skills(ES) mandatorystatement inserted; KeyCompetenciesinformation removed.ES enhanced inElement 3.1; ES



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



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


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



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



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


FNSICORG506B Develop and monitorpolicy and procedures

FNSICORG506A Develop and monitor policyand procedures




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



information removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.

FNSICORG510B Manage own professionaldevelopment

FNSICORG510A Manage own professionaldevelopment


FNSICORG511B Manage the staff trainingfunction

FNSICORG511A Manage the staff trainingfunction


FNSICORG512B Act as formal complaintsofficer

FNSICORG512A Act as formal complaintsofficer

Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflect



mandatory ES changes.The unit outcomes havenot changed.

FNSICORG513B Implement qualitysystems within work area

FNSICORG513A Implement quality systemswithin work area


FNSICORG514B Supervise work within afinancial services context

FNSICORG514A Supervise work within afinancial services context


FNSICORG515B Provide mentoring andcoaching in theworkplace

FNSICORG515A Provide mentoring andcoaching in the workplace


FNSICORG516B Prepare financial reports FNSICORG516A Prepare financial reports to Employability Skills (ES)



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


FNSICORG518B Implement businesspractices

FNSICORG518A Implement businesspractices


FNSICORG519B Analyse and comment onmanagement reports

FNSICORG518A Analyse and comment onmanagement reports

Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed. ES



enhanced in RequiredKnowledge & Skills.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.

FNSICORG601B Prepare strategic plans FNSICORG601A Prepare practice strategicplans


FNSICORG602B Recruit, select and inductstaff

FNSICORG602A Recruit, select and inductstaff


FNSICORG603B Negotiate to achievegoals and managedisputes

FNSICORG603A Negotiate to achieve goalsand manage disputes

Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed. ES



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


FNSICORG605B Draw up and executiveemployment contracts.

FNSICORG605A Draw up and executiveemployment contracts.


FNSICORG606B Manage flow ofinformation

FNSICORG606A Manage flow of information Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.



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




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


FNSICORG612B Establish and prepareoperational guidelines in afinancial servicesorganisation

FNSICORG612A Establish and prepareoperational guidelines in afinancial servicesorganisation


FNSICORG613B Establish outsourcedservices and monitorperformance

FNSICORG613A Establish outsourcedservices and monitorperformance




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


FNSICCUS302B Process customercomplaints

FNSICCUS302A Process customercomplaints


FNSICCUS303B Provide inbound telephoneservice

FNSICCUS303A Provide inboundtelephone service




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


FNSICCUS401B Deliver a professionalservice to customers

FNSICCUS401A Deliver a professionalservice to customers

Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced inRequired Knowledge &



Skills. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.

FNSICCUS402B Maintain customerrelationships

FNSICCUS402A Maintain customerrelationships


FNSICCUS403B Coordinate, evaluate andimprove customer service

FNSICCUS403A Coordinate, evaluate andimprove customer service


FNSICCUS404B Implement a servicesupport system

FNSICCUS404A Implement a servicesupport system

Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ES



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


FNSICCUS502B Monitor client requirements FNSICCUS502A Monitor clientrequirements


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.



FNSICCUS504B Manage business customerrelationships

FNSICCUS504A Manage businesscustomer relationships


FNSICCUS505B Manage premium businesscustomer relationships

FNSICCUS505A Manage premiumbusiness customerrelationships


FNSICCUS506B Determine clientrequirements andexpectations

FNSICCUS506A Determine clientrequirements andexpectations


FNSICCUS507B Record and implementclient instructions

FNSICCUS507A Record and implementclient instructions





FNSICCUS601B Establish, manage andmonitor key relationships

FNSICCUS601A Establish, manage andmonitor key relationships


FNSICCUS602B Implement customerservice strategy

FNSICCUS602A Implement customerservice strategy


Industry Capability - Product Skills



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


FNSICPRO402B Match financial products tocustomer needs

FNSICPRO402A Match financial products tocustomer needs


FNSICPRO403B Tailor a product/service tomeet customer needs

FNSICPRO403A Tailor a product/service tomeet customer needs


FNSICPRO501B Allocate authorities andguidelines for distribution

FNSICPRO501A Allocate authorities andguidelines for distribution





FNSICPRO502B Conduct product research tosupport recommendations

FNSICPRO502A Conduct product researchto supportrecommendations


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



not changed.

FNSICPRO603B Develop a business plan fora financial product

FNSICPRO603A Develop a business plan fora financial product


FNSICPRO604B Coordinate implementationof product/fund supportsystems

FNSICPRO604A Coordinate implementationof Product/Fund SupportSystems


Industry Capability - Sales and Marketing

FNSICSAM301B Identify opportunities forcross selling products andservices

FNSICSAM301A Identify opportunities forcross selling products andservices


FNSICSAM401B Sell financial products and FNSICSAM401A Sell financial products Employability Skills (ES)



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


FNSICSAM501B Develop a sales plan FNSICSAM501A Develop a sales plan Employability Skills (ES)



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


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.



FNSICSAM504B Implement, monitor andevaluate marketing plans

FNSICSAM504A Implement, monitor andevaluate marketing plans


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




FNSICSAM601B Monitor performance insales of financial productsor services

FNSICSAM601A Monitor performance insales of financial productsor services


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.



The unit outcomes havenot changed.

FNSICACC302B Administer financialaccounts

FNSICACC302A Administer financialaccounts


FNSICACC303B Prepare, match andprocess receipts

FNSICACC303A Prepare, match andprocess receipts


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




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


FNSICACC401B Evaluate and authorisepayment requests

FNSICACC401A Evaluate and authorisepayment requests

Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.Code changed to reflect



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


FNSASIC301B Establish client relationshipand analyse needs

FNSASIC301A Establish clientrelationship and analyseneeds


FNSASIC302B Develop, present andnegotiate client solutions

FNSASIC302A Develop, present andnegotiate client solutions

Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed. ESenhanced in Required



Knowledge & Skills.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.

FNSASIC503SB Provide advice in ForeignExchange

FNSASIC503SA Provide advice in ForeignExchange


FNSASIC503TB Provide advice in ManagedInvestments

FNSASIC503TA Provide advice inManaged Investments


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



not changed.

FNSASIC503VB Provide advice inDerivatives

FNSASIC503VA Provide advice inDerivatives


FNSASIC503WB Provide advice in Securities FNSASIC503WA Provide advice inSecurities


FNSASIC503XB Provide advice in LifeInsurance

FNSASIC503XA Provide advice in LifeInsurance


FNSASIC503YB Provide advice in InsuranceBroking

FNSASIC503YA Provide advice inInsurance Broking

Employability Skills (ES)mandatory statementinserted; Key



Competenciesinformation removed.Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.

FNSASIC503ZB Provide advice in FinancialPlanning

FNSASIC503ZA Provide advice inFinancial Planning


FNSICADV501B Provide appropriateservices, advice andproducts to clients

FNSICADV501A Provide appropriateservices, advice andproducts to clients


FNSICADV502B Provide appropriate andtimely information andadvice to clients

FNSICADV502A Provide appropriate andtimely information andadvice to clients

Employability Skills (ES)mandatory statementinserted; KeyCompetenciesinformation removed.



Code changed to reflectmandatory ES changes.The unit outcomes havenot changed.

Accounting Competency Standards

FNSACCT401B Process business taxrequirements

FNSACCT401A Process business taxrequirements


FNSACCT402B Produce job costinginformation

FNSACCT402A Produce job costinginformation


FNSACCT403B Prepare operational budgets FNSACCT403A Prepare operationalbudgets

Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced in



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.




FNSACCT406B Maintain asset and inventoryrecords

FNSACCT406A Maintain asset andinventory records


New Performance Criteriaadded at 3.2. PerformanceCriteria 5.2 removed.


FNSACCT407B Set up and operate acomputerised accountingsystem

FNSACCT407A Set up and operate acomputerised accountingsystem



FNSACCT501B Provide financial andbusiness performanceinformation

FNSACCT501A Provide financial andbusiness performanceinformation





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


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




FNSACCT505B Establish and maintainaccounting informationsystems

FNSACCT505A Establish and maintainaccounting informationsystems


FNSACCT506B Implement and maintaininternal control procedures

FNSACCT506A Implement and maintaininternal control procedures


FNSACCT507B Provide managementaccounting information

FNSACCT507A Provide managementaccounting information





FNSACCT601B Prepare complex tax returnsand lodgements

FNSACCT601A Prepare complex taxreturns and lodgements


FNSACCT602B Audit and report on financialsystems and records

FNSACCT602A Audit and report onfinancial systems andrecords


FNSACCT603B Implement tax plans andevaluate tax compliance

FNSACCT603A Implement tax plans andevaluate tax compliance





FNSACCT604B Monitor corporategovernance activities

FNSACCT604A Monitor corporategovernance activities


FNSACCT605B Implement organisationalimprovement programs

FNSACCT605A Implement organisationalimprovement programs


FNSACCT606B Conduct internal audit FNSACCT606A Conduct internal audit Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have not



changed.

FNSACCT607B Evaluate businessperformance

FNSACCT607A Evaluate businessperformance


FNSACCT608B Evaluate organisation'sfinancial performance

FNSACCT608A Evaluate organisation'sfinancial performance


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)



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


FNSACCT612B Implement reconstructionplan

FNSACCT612A Implement reconstructionplan


FNSACCT613B Prepare and analysemanagement accountinginformation

FNSACCT613A Prepare and analysemanagement accountinginformation

Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. Code changed



to reflect mandatory ESchanges. The unitoutcomes have notchanged.

FNSACCT614B Prepare complex corporatefinancial reports

FNSACCT614A Prepare complex corporatefinancial reports


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


FNSBKPG403A Establish and maintain anaccrual accounting system


FNSBKPG404A Carry out business activity andinstalment activity statementtasks


FNSBKPG405A E stablish and maintain apayroll system




Conveyancing Competency Standards

FNSCONV501B Take instructions in relationto a transaction

FNSCONV501A Take instructions inrelation to a transaction


FNSCONV502B Prepare and/or analyse andexecute documents

FNSCONV502A Prepare and/or analyseand execute documents


FNSCONV503B Establish, manage andadminister trust accounts

FNSCONV503A Establish, manage andadminister trust accounts




FNSCONV504B Finalise conveyancingtransactions

FNSCONV504A Finalise conveyancingtransactions


FNSCONV601B Obtain and analyse allinformation for thetransaction

FNSCONV601A Obtain and analyse allinformation for thetransaction


Credit/Lending Services Competency Standards

FNSCRDT301B Process applications forcredit

FNSCRDT301A Process applications forcredit


FNSCRDT302B Assess applications for debtfinance

FNSCRDT302A Assess applications fordebt finance





FNSCRDT303B Monitor and control accounts FNSCRDT303A Monitor and controlaccounts


FNSCRDT401B Evaluate credit applications FNSCRDT401A Evaluate creditapplications


FNSCRDT402B Settle application andarrangements for debtfinance

FNSCRDT402A Settle application andarrangements for debtfinance





FNSCRDT403B Determine and establishappropriate securities tominimise risk

FNSCRDT403A Determine and establishappropriate securities tominimise risk


FNSCRDT404B Manage and recover errantdebts

FNSCRDT404A Manage and recover errantdebts


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



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


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



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


FNSFBRK402B Provide finance and/ormortgage broking services

FNSFBRK402A Provide finance and/ormortgage broking services


FNSFBRK403B Present broking options toclient

FNSFBRK403A Present broking options toclient




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


FNSFBRK501B Settle application and loanarrangements in thefinance/mortgage brokingindustry

FNSFBRK501A Settle application and loanarrangements in thefinance/mortgage brokingindustry


FNSFBRK502B Identify and develop complexbroking options for client

FNSFBRK502A Identify and developcomplex broking options forclient




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


FNSFBRK504B Implement complex loanstructures

FNSFBRK504A Implement complex loanstructures


Financial Literacy Competency Standards

FNSFLIT201B Develop and use a personal FNSFLIT201A Develop and use a personal Employability Skills (ES)



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


FNSFLIT203B Develop understanding ofdebt and consumer credit

FNSFLIT203A Develop understanding ofdebt and consumer credit




changed.

FNSFLIT204B Develop understanding ofsuperannuation

FNSFLIT204A Develop understanding ofsuperannuation


FNSFLIT205B Develop understanding of theAustralian financial systemand markets

FNSFLIT205A Develop understanding ofthe Australian financialsystem and markets


FNSFLIT501B Assist customers to budgetand manage own finances

FNSFLIT501A Assist customers to budgetand manage own finances




changed.

FNSFLIT502B Facilitate customer awarenessof the Australian financialsystem and markets

FNSFLIT502A Facilitate customerawareness of the Australianfinancial system andmarkets


FNSFLIT503B Promote basic financialliteracy skills

FNSFLIT503A Promote basic financialliteracy skills


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




FNSFLIT505B Facilitate customer oremployee understanding ofsuperannuation as aninvestment tool

FNSFLIT505A Facilitate customer oremployee understanding ofsuperannuation as aninvestment tool


Financial Markets Competency Standards

FNSFMKT301B Complete transactionprocessing

FNSFMKT301A Complete transactionprocessing


FNSFMKT401B Reconcile financialtransaction

FNSFMKT401A Reconcile financialtransaction

Employability Skills (ES)mandatory statementinserted; KeyCompetencies information



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


FNSFMKT502B Analyse financial marketproducts for client

FNSFMKT502A Analyse financial marketproducts for client


FNSFMKT503B Advice clients on financialrisk

FNSFMKT503A Advice clients on financialrisk





FNSFMKT504B Complete settlement andconfirmation processes

FNSFMKT504A Complete settlement andconfirmation processes


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)



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


FNSFPLN402B Prepare financial plans to setstrategies and guidelines

FNSFPLN402A Prepare financial plans toset strategies andguidelines




FNSFPLN403B Implement financial plan topredetermined guidelines

FNSFPLN403A Implement financial plan topredetermined guidelines


FNSFPLN501B Comply with financialplanning practice ethical andoperational guidelines andregulations

FNSFPLN501A Comply with financialplanning practice ethicaland operational guidelinesand regulations


FNSFPLN502B Conduct financial planninganalysis and research

FNSFPLN502A Conduct financial planninganalysis and research


FNSFPLN503B Develop and preparefinancial plan

FNSFPLN503A Develop and preparefinancial plan




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


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



changed.

FNSFPLN507B Provide financial planningadvice

FNSFPLN507A Provide financial planningadvice


FNSFPLN508B Conduct complex financialplanning research

FNSFPLN508A Conduct complex financialplanning research


FNSFPLN601B Provide technical andprofessional guidance

FNSFPLN601A Provide technical andprofessional guidance


FNSFPLN602B Determine clientrequirements andexpectations for clients with

FNSFPLN602A Determine clientrequirements andexpectations for clients with




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


FNSFPLN604B Develop complex and/orinnovative financial planningstrategies

FNSFPLN604A Develop complex and/orinnovative financial planningstrategies


FNSFPLN605B Present and negotiatecomplex and/or innovativefinancial plan to the client

FNSFPLN605A Present and negotiatecomplex and/or innovativefinancial plan to the client




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


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



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



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




FNSINBK302B Place broking clientinsurance with insurers

FNSINBK302A Place broking clientinsurance with insurers


FNSINBK303B Confirm insurance cover withbroking client

FNSINBK303A Confirm insurance coverwith broking client


FNSINBK304B Provide a broking claimsservice to clients

FNSINBK304A Provide a broking claimsservice to clients





FNSINBK501B Prepare a new businesssubmission for a brokingclient

FNSINBK501A Prepare a new businesssubmission for a brokingclient


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




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


FNSINBK505B Assess and negotiatecomplex risk portfolio forbroker client at renewal

FNSINBK505A Assess and negotiatecomplex risk portfolio forbroker client at renewal


FNSINBK506B Review incidence of loss forbroking clients

FNSINBK506A Review incidence of loss forbroking clients





FNSINBK507B Meet compliancerequirements relating toinsurance broking

FNSINBK507A Meet compliancerequirements relating toinsurance broking


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





FNSINBK602B Implement the brokingservice system

FNSINBK602A Implement the brokingservice system


FNSINBK603B Review insurance brokerageservice performance

FNSINBK603A Review insurancebrokerage serviceperformance


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




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


FNSLDIS504B Implement and manage thedistribution plan

FNSLDIS504A Implement and manage thedistribution plan





Life Insurance Competency Standards

FNSLIFE301B Process and issue a lifeinsurance policy

FNSLIFE301A Process and issue a lifeinsurance policy


FNSLIFE302B Receive and process servicerequests

FNSLIFE302A Receive and processservice requests


FNSLIFE303B Process policy payments andterminations

FNSLIFE303A Process policy paymentsand terminations





FNSLIFE401B Undertake life insurance riskassessment

FNSLIFE401A Undertake life insurancerisk assessment


FNSLIFE402B Settle policy payments andterminations

FNSLIFE402A Settle policy payments andterminations


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




Loss Adjusting Competency Standards

FNSLOSS501B Plan and implement lossinvestigation

FNSLOSS501A Plan and implement lossinvestigation


FNSLOSS502B Evaluate collected information FNSLOSS502A Evaluate collectedinformation


FNSLOSS503B Report findings and provideguidance to involved parties

FNSLOSS503A Report findings and provideguidance to involved parties




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



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


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


FNSWCMP402B Represent workerscompensationagent/insurer at conciliationand review hearings

FNSWCMP402A Represent workerscompensationagent/insurer atconciliation and reviewhearings


FNSWCMP403B Educate clients on workerscompensation issues

FNSWCMP403A Educate clients onworkers compensation




issues inserted; KeyCompetencies informationremoved. Code changedto reflect mandatory ESchanges. The unitoutcomes have notchanged.

FNSWCMP404A Assist injured workers withjob placement


FNSWCMP501A Manage workerscompensation case loads


FNSWCMP502A Develop a return to workstrategy


FNSWCMP503A Facilitate workplaceassessment withstakeholders for workerscompensation cases


Insurance Services Competency Standards

FNSINSV301B Evaluate risk for renewalbusiness

FNSINSV301A Evaluate risk for renewalbusiness




FNSINSV302B Process alteration toinsurance policy

FNSINSV302A Process alteration toinsurance policy


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



removed. Code changed toreflect mandatory ESchanges. The unitoutcomes have notchanged.

FNSINSV306B Receive and record/ registerclaim

FNSINSV306A Receive and record/ registerclaim


FNSINSV307B Follow company proceduresto process claim

FNSINSV307A Follow company proceduresto process claim


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



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


FNSINSV402B Underwrite new business FNSINSV402A Underwrite new business Employability Skills (ES)



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


FNSINSV404B Underwrite renewal business FNSINSV404A Underwrite renewalbusiness


FNSINSV405B Analyse insurance claims FNSINSV405A Analyse insurance claims Employability Skills (ES)



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


FNSINSV502B Review operationalperformance of the portfolio

FNSINSV502A Review operationalperformance of portfolio




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


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)



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


FNSINSV508B Review claims settlementpolicies and procedures

FNSINSV508A Review claims settlementpolicies and procedures





FNSINSV509B Analyse financial, medicaland psychological claimsassessments

FNSINSV509A Analyse financial, medicaland psychological claimsassessments


FNSINSV510B Case manage claimsrehabilitation

FNSINSV510A Case manage claimsrehabilitation


FNSINSV511B Manage non-routine, complex FNSINSV511A Manage non-routine, Employability Skills (ES)



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


FNSINSV513B Work with legal teams toresolve complex claims

FNSINSV513A Work with legal teams toresolve complex claims


FNSINSV514B Provide decisions on legalliability and indemnity of aclaim

FNSINSV514A Provide decisions on legalliability and indemnity of aclaim




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


FNSINSV516B Evaluate and report on statusof claims portfolio to identifiedstakeholders

FNSINSV516A Evaluate and report onstatus of claims portfolio toidentified stakeholders


Mercantile Agent Competency Standards

FNSMERC301B Collect debts FNSMERC301A Collect debts Employability Skills (ES)mandatory statementinserted; Key



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




FNSMERC401B Develop and document caserecommendations

FNSMERC401A Develop and document caserecommendations


FNSMERC402B Initiate legal recovery ofdebts

FNSMERC402A Initiate legal recovery ofdebts


Personal Trustees Competency Standards

FNSPERT301B Establish entitlements to anintestate estate

FNSPERT301A Establish entitlements to anintestate estate





FNSPERT302B Administer a non-complexEstate

FNSPERT302A Administer a non-complexEstate


FNSPERT303B Administer a non-complexTrust

FNSPERT303A Administer a non-complexTrust


FNSPERT401B Apply principles ofprofessional practice to workin the personal trusteeindustry

FNSPERT401A Apply principles ofprofessional practice towork in the personal trusteeindustry


FNSPERT402B Administer an intestate estate FNSPERT402A Administer an intestate Employability Skills (ES)



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


FNSPERT405B Administer a complex Trust FNSPERT405A Administer a complex Trust Employability Skills (ES)mandatory statementinserted; KeyCompetencies informationremoved. ES enhanced in



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


FNSPERT407B Administer Powers ofAttorney or FinancialAdministration Orders

FNSPERT407A Administer Powers ofAttorney or FinancialAdministration Orders


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



reflect mandatory ESchanges. The unitoutcomes have notchanged.

FNSPERT502B Advise clients in estateplanning

FNSPERT502A Advise clients in estateplanning


FNSPERT503B Allocate, assess andsupervise work within thepersonal trustee sector

FNSPERT503A Allocate, assess andsupervise work within thepersonal trustee sector


Practice Management Competency Standards

FNSPRAC501B Manage and maintainsmall/medium businessoperations

FNSPRAC501A Manage and maintainsmall/medium businessoperations





FNSPRAC601B Establish, supervise andmonitor practice systems toconform with legislation andregulations

FNSPRAC601A Establish, supervise andmonitor practice systems toconform with legislation andregulations


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




FNSPRAC701B Prepare, supervise andmonitor application ofpractice guidelines

FNSPRAC701A Prepare, supervise andmonitor application ofpractice guidelines


FNSPRAC702B Establish or reviewmarketing, client servicesand supplier relationships

FNSPRAC702A Establish or reviewmarketing, client servicesand supplier relationships


FNSPRAC703B Establish or review humanresources, administrationand information support

FNSPRAC703A Establish or review humanresources, administrationand information support





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



outcomes have notchanged.

FNSRISK602B Determine and manage riskexposure strategies

FNSRISK602A Determine and manage riskexposure strategies


Compliance Competency Standards

FNSCOMP401B Conduct individual workwithin a complianceframework

FNSCOMP401A Conduct individual workwithin a complianceframework


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




FNSCOMP501B Comply with financialservices legislation, industryand professional codes ofpractice

FNSCOMP501A Comply with financialservices legislation,industry and professionalcodes of practice


FNSCOMP601B Interpret and managestatutory, legislative andregulatory obligations fororganisational compliance

FNSCOMP601A Interpret and managestatutory, legislative andregulatory obligations fororganisational compliance


FNSCOMP602B Develop and implementcompliance systems

FNSCOMP602A Develop and implementcompliance systems




Retail Financial Services Competency Standards

FNSRETA301B Provide customer service ina retail agency

FNSRETA301A Provide customer service ina retail agency


FNSRETA302B Handle foreign currencytransactions

FNSRETA302A Handle foreign currencytransactions


FNSRETA303B Monitor and managetransactions

FNSRETA303A Monitor and managetransactions




changed.

FNSRETA304B Administer debit cardservices

FNSRETA304A Administer debit cardservices


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


FNSRETA307B Maintain ATM services FNSRETA307A Maintain ATM services Employability Skills (ES)mandatory statementinserted; Key




FNSRETA308B Prepare statistical and adhoc reports

FNSRETA308A Prepare statistical and adhoc reports


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





FNSRETA401B Communicate newtechnologies to customers

FNSRETA401A Communicate newtechnologies to customers


FNSRETA402B Administer credit cardservices

FNSRETA402A Administer credit cardservices


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




FNSRETA404B Prepare government returns FNSRETA404A Prepare governmentreturns


FNSRETA501B Produce financial statements FNSRETA501A Produce financialstatements


Banking Competency Standards

FNSBANK401B Coordinate a small businesscustomer portfolio

FNSBANK401A Coordinate a smallbusiness customerportfolio




FNSBANK402B Align banking products withthe needs of small businesscustomers

FNSBANK402A Align banking productswith the needs of smallbusiness customers


FNSBANK403B Provide services in a RuralTransaction Centre

FNSBANK403A Provide services in aRural Transaction Centre


FNSBANK501B Manage banking andservice strategy for smallbusiness customers

FNSBANK501A Manage banking andservice strategy for smallbusiness customers




FNSBANK502B Manage services in a RuralTransaction Centre

FNSBANK502A Manage services in aRural Transaction Centre


FNSBANK503B Provide business advisoryservices within a financialservices context

FNSBANK503A Provide business advisoryservices within a financialservices context


Self Managed Superannuation Funds Competency Standards

FNSSMSF401B Process Self ManagedSuperannuation contributions

FNSSMSF401A Process Self ManagedSuperannuationcontributions




changed.

FNSSMSF501B Invest Self ManagedSuperannuation Fundsassets

FNSSMSF501A Invest Self ManagedSuperannuation Fundsassets


FNSSMSF502B Manage changes to fundstructure

FNSSMSF502A Manage changes to fundstructure


FNSSMSF503B Manage administrationactivities of a superannuationfund

FNSSMSF503A Manage administrationactivities of asuperannuation fund


FNSSMSF504B Meet Self ManagedSuperannuation Fundscompliance requirements

FNSSMSF504A Meet Self ManagedSuperannuation Fundscompliance requirements





FNSSMSF505B Support trustee in theselection and performancemonitoring of outsourcedservices

FNSSMSF505A Support trustee in theselection and performancemonitoring of outsourcedservices


FNSSMSF601B Provide advice in SelfManaged SuperannuationFunds

FNSSMSF601A Provide advice in SelfManaged SuperannuationFunds


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




FNSSMSF603B Apply legislative andoperational requirements toadvising in Self ManagedSuperannuation Funds

FNSSMSF603A Apply legislative andoperational requirements toadvising in Self ManagedSuperannuation Funds


Superannuation Competency Standards

FNSSUPR301B Establish, maintain andprocess superannuationrecords

FNSSUPR301A Establish, maintain andprocess superannuationrecords


FNSSUPR302B Process superannuationcontributions

FNSSUPR302A Process superannuationcontributions




FNSSUPR303B Process superannuation ETPbenefits

FNSSUPR303A Process superannuationETP benefits


FNSSUPR304B Implement trustee investmentinstructions

FNSSUPR304A Implement trusteeinvestment instructions


FNSSUPR305B Process superannuation fundpayments

FNSSUPR305A Process superannuationfund payments


FNSSUPR306B Terminate superannuationplans

FNSSUPR306A Terminate superannuationplans





FNSSUPR401B Process complexsuperannuation benefitand/or insurance claim

FNSSUPR401A Process complexsuperannuation benefitand/or insurance claim


FNSSUPR402B Assist in meetingsuperannuation compliancerequirements

FNSSUPR402A Assist in meetingsuperannuation compliancerequirements


FNSSUPR403B Work within a defined benefitfund

FNSSUPR403A Work within a definedbenefit fund





FNSSUPR404B Administer retirement incomestreams

FNSSUPR404A Administer retirementincome streams


FNSSUPR405B Establish and customisecomplex employer accounts

FNSSUPR405A Establish and customisecomplex employer accounts


FNSSUPR406B Implement fund reviewpractices

FNSSUPR406A Implement fund reviewpractices





FNSSUPR407B Establish and maintain fundor plan

FNSSUPR407A Establish and maintain fundor plan


FNSSUPR408B Assess complexsuperannuation benefitand/or insurance claims

FNSSUPR408A Assess complexsuperannuation benefitand/or insurance claims


FNSSUPR501B Supervise complaintsprocedures

FNSSUPR501A Supervise complaintsprocedures





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


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



changed.

FNSSUPR505B Produce reports forsuperannuation

FNSSUPR505A Produce reports forsuperannuation


FNSSUPR506B Supervise and monitoroperational guidelines in asuperannuation organisation

FNSSUPR506A Supervise and monitoroperational guidelines in asuperannuationorganization


FNSSUPR507B Review compliance withregulatory and contractualrequirements

FNSSUPR507A Review compliance withregulatory and contractualrequirements


FNSSUPR508B Provide effective information FNSSUPR508A Provide effective Employability Skills (ES)



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


FNSSUPR602B Manage official complaintsprocedures and proceedings

FNSSUPR602A Manage official complaintsprocedures andproceedings




FNSSUPR603B Integrate investment strategywith fund operations

FNSSUPR603A Integrate investmentstrategy with fundoperations


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.



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.

FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007Overview


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.



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



http://www.ntis.gov.au

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



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

FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007Introduction


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



• 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:



Eight units have been developed specifically to satisfy the requirements for Tier 1, one unit foreach ASIC identified specialist knowledge area:









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



receive for any other units in this FNSASIC503** stream cannot be counted towards aDiploma qualification.



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.

FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007Qualifications Framework


http://www.aqf.edu.au

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


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.



• 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


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



and within known time constraints.

Applications may involve some responsibility for others. Participation in teams includinggroup or team co-ordination may be involved.



• 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


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.



• 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


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



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.


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


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.


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.



• 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.



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):





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



http://www.aqf.edu

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


FNSICCUS501B Develop and nurture relationships with clients, other professionals and thirdparty referrers





FNSICORG512B Act as formal complaints officer







FNSSUPR503B Develop client relationships with employers and establish superannuationsystems

FNSSUPR504B Provide advanced customer service to superannuation clients


FNSSUPR506B Supervise and monitor operational guidelines in a superannuationorganisation

BSBFLM409B Implement continuous improvement

BSBSLS304A Secure prospect commitment



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



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:



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


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.



Target Group This skill set is relevant to trustees working with self managedsuperannuation funds.

Units Introductory Unit


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:


FNSICGEN501A Produce research reports and make presentations


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.



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

FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007Employability Skills


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



• 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



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



• 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



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.



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:





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


Volume 1 of 3, Qualification 1 of 32 Page 173 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 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.




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:





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





FNSFLIT205B Develop understanding of the Australian financial system and markets





To achieve a Certificate II in Financial Services:


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




prepare workplace documentation• using the telephone and computer technology to

communicate effectively with customers• working safely with technology





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.


To attain a FNS30107 Certificate III in Financial Services 13 units must be achieved:


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






ELECTIVE UNITS


• 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




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






SECTORAL CORE UNITS

Achieve a minimum of 4 of the following sectoral core units:

FNSINSV301B Evaluate risk for renewal business



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





FNSINSV310B Process a claims payment


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






To achieve a Certificate III in Financial Services:


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




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





FNS30304 Certificate III in Financial Services (Accounts Clerical)To attain a Certificate III in Financial Services (Accounts Clerical) 13 units must beachieved:


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






SECTORAL CORE UNITS

Achieve the following 5 sectoral core units:



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




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.


FNSICACC302B Administer financial accounts






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.





To achieve a Certificate III in Financial Services (Accounts Clerical):


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



• 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




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





FNS30404 Certificate III in Financial Services (Mercantile Agents)To attain a Certificate III in Financial Services (Mercantile Agents) 13 units must beachieved:


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






SECTORAL CORE UNITS


FNSMERC304B Locate subjects

FNSICORG302B Prepare reports for management

FNSICIND401B Apply principles of professional practice to work in the financial servicesindustry


Elective units


• 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




detailed below.

Collections - Compulsory


Collections - Highly recommended


FNSMERC401B Develop and document case recommendations


Process Serving - Compulsory


Process Serving - Highly recommended



Repossessions - Compulsory


Repossessions - Highly recommended







To achieve a Certificate III in Financial Services (Mercantile Agents):


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



• 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




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





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


There are no prerequisite requirements for this qualification.

CORE UNITS


BSBCMN310A Deliver and monitor a service to customers

BSBCMN402A Develop work priorities


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




or both sectors as listed):

Claims units

FNSWCMP301A Process benefit payments

FNSWCMP302A Determine claim liability


Underwriting units

FNSINSV301B Evaluate risk for renewal of business



FNSINSV304B Issues renewal business

FNSLIFE303B Process policy payments and terminations

ELECTIVE UNITS


• 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






To achieve a Certificate III in Financial Services (Workers Compensation):



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




Learning • acquiring and applying knowledge of products, services and




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





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.


To attain a FNS40107 Certificate IV in Financial Services 13 units must be achieved:


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:






ELECTIVE UNITS


• 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




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:


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


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:






SECTORAL CORE UNITS

Achieve 6 sectoral core units made up as follows:

Achieve 2 of the following sectoral core units:











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


• 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



• 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


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




• 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.


Where the industry core units have been demonstrated as a requirement of Certificate III inFinancial Services exemption is provided.

INDUSTRY CORE UNITS







SECTORAL CORE UNITS


FNSINSV403B Survey potential risk exposure






FNSINSV406B Use specialist terminology in insurance claims







ELECTIVE UNITS


• 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








To achieve a Certificate IV in Financial Services:


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




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.





FNS40204 Certificate IV in Financial Services (Personal TrustAdministration)To attain a FNS40204 Certificate IV in Financial Services (Personal TrustAdministration) 13 units must be achieved:


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






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


• 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






FNSPERT407B Administer Powers of Attorney or Financial Administration Orders

FNSICSAM301B Identify opportunities for cross selling products and services








To achieve a Certificate IV in Financial Services (Personal TrustAdministration):



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




• 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






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.


Where the industry core units have been demonstrated as a requirement of Certificate III inFinancial Services exemption is provided

Industry Core Units






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



FNSBKPG405A Establish and maintain a payroll system




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


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



Small Business Owner




Permanent Paid Bookkeeper (working for enterprise)








To achieve a Certificate IV in Financial Services (Bookkeeping):


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




• 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


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





FNS40304 Certificate IV in Financial Services (CreditManagement)To attain a Certificate IV in Financial Services (Credit Management) 13 units must beachieved:


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






SECTORAL CORE UNITS



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



ELECTIVE UNITS




• 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•




see Levels Chart for full list of units available in the FNS04 Financial Services TrainingPackage.



FNSDMGT501B Promote understanding of the role and effective use of consumer credit

FNSDMGT502B Assist clients to identify, address and monitor own financial situation





To achieve a Certificate IV in Financial Services (Credit Management):


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


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




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


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






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






SECTORAL CORE UNITS


FNSACCT401B Process business tax requirements

FNSACCT402B Produce job costing information

FNSACCT403B Prepare operational budgets

FNSACCT404B Make decisions within a legal context



ELECTIVE UNITS


• 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


• 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 units listed below are suggested as suitable electives• see Levels Chart for full list of units available in the FNS04 Financial Services Training

Package.












BSBCMN406A Maintain business technology


• BSBCMN308A is a prerequisite unit to FNSACCT407B.





To achieve a Certificate IV in Financial Services (Accounting):


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




• 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





FNS40704 Certificate IV in Financial Services (Financial PracticeSupport)To attain a Certificate IV in Financial Services (Financial Practice Support) 13 unitsmust be achieved:


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






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:


Diploma level and up to 1 unit may be selected from the list of units suitable atCertificate III level



• 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




• 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






To achieve a Certificate IV in Financial Services (Financial PracticeSupport):


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




• 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


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





FNS40804 Certificate IV in Financial Services (Finance/MortgageBroking)To attain a Certificate IV in Financial Services (Finance/Mortgage Broking) 13 unitsmust be achieved:


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






SECTORAL CORE UNITS


FNSFBRK401B Prepare and present loan application on behalf of finance or mortgagebroking client

FNSFBRK402B Provide finance and/or mortgage broking services


FNSCOMP501B Comply with financial services, legislation, industry and professional codesof practice

FNSCRDT301B Process applications for credit

ELECTIVE UNITS



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




• see Levels Chart for full list of units available in the FNS04 Financial Services TrainingPackage



FNSFBRK501B Settle application and loan arrangements in the finance/mortgage brokingindustry





FNSICSAM403B Prospect for new clients





To achieve a Certificate IV in Financial Services (Finance/MortgageBroking):


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




• 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


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





FNS40904 Certificate IV in Financial Services (Superannuation)To attain a Certificate IV in Financial Services (Superannuation) 13 units must beachieved:


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






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


ELECTIVE UNITS


• 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



Package






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







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





To achieve a Certificate IV in Financial Services (Superannuation):



• 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


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







all organisational policies and procedures are followed• understanding and acting upon compliance implications• working ethically and complying with industry Professional


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









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.



Core Units


FNSWCMP303B Work within the workers compensation industry sector




FNSICCUS402B Maintain customer relationships



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


FNSWCMP404A Assist injured workers with job placement

FNSWCMP501A Manage workers compensation case loads


Underwriting units




FNSLIFE402B Settle policy payments and terminations

Elective Units


• 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.





To achieve a Certificate IV in Financial Services (Workers Compensation):


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




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


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





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:


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






These core units are often assessed through recognition of competence or may have beenachieved through awarding of a lower level qualification.

ELECTIVE UNITS





• 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




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).


INDUSTRY CORE UNITS






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



FNSCOMP601B Interpret and manage statutory, legislative and regulatory obligations fororganisational compliance




ELECTIVE UNITS





• 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



INDUSTRY RECOMMENDEDELECTIVEUNITS

Industry recommends choosing the following elective units:


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:


Where the industry core units have been demonstrated as a requirement of Certificate IV inFinancial Services exemption is provided.


INDUSTRY CORE UNITS







SECTORALCORE UNITS


FNSICADV501B Provide appropriate services, advice and products to clients




FNSCOMP501B Comply with financial services legislation, industry and professional codesof practice



FNSLDIS501B Prepare a distribution plan

ELECTIVEUNITS



at Certificate IV level and up to 2 units may be selected from the list of units suitable atAdvanced Diploma level




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:



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










SECTORALCORE UNITS






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





INDUSTRYRECOMMENDED ELECTIVE UNITS

Industry recommends choosing the following electives:


FNSICPRO602B Establish agreements with intermediaries for product distribution


FNS50107 Diploma of Financial Services (GENERALINSURANCE)

To attain a Diploma of Financial Services (General Insurance) 12 units must beachieved:






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







SECTORAL CORE UNITS


FNSINSV501B Issue contracts of insurance covering non-routine situations





ELECTIVE UNITS


• 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





INDUSTRY RECOMMENDED ELECTIVE UNITS

Industry recommends choosing the following electives:








FNS50107 Diploma of Financial Services (INSURANCE SERVICES)

To attain a Diploma of Financial Services (Insurance Services) 12 units must beachieved:


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






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:





FNSINSV505B Determine risk rating for investment and insurance products







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





• 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


Package.



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



• 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:







INDUSTRY CORE UNITS







SECTORAL CORE UNITS







ELECTIVE UNITS



at the Certificate IV level and up to 2 units may be selected from the list of units suitableat Advanced Diploma level




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




• 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






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


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


• 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





• 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


NOTE: When selecting the above unit please note that the following prerequisite units apply:

• FBSINBK501B, FNSINBK502B, FNSINBK503B, and FNSINBK603B





To achieve a Diploma of Financial Services:


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


to negotiate solutions with clients and colleagues• using excellent customer service skills and maintaining an


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




• 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


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









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







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:





BSBCMN308A Maintain financial records




SECTORAL CORE UNITS







ELECTIVE UNITS


• 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



Package


FNSACCT501B Provide financial and business performance information




FNSICORG509B Maintain integrity of financial systems





FNSICORG609B Development and manage financial systems


• FNSACCT503B is a prerequisite unit to FNSACCT607B• FNSRETA309B, FNSRETA310B, FNSICORG301B and FNSICACC301B are

prerequisite units to FNSICORG509B.





To achieve a Diploma of Accounting:


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




• 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


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





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







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:


FNSFBRK401B Prepare/present loan application on behalf of finance or mortgage brokingclient




FNSFBRK402B Provide finance/mortgage broking services


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



ELECTIVE UNITS


• 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


Package.



FNSFBRK501B Settle application and loan arrangements in the finance/mortgage brokingindustry






FNSICORG515B Provide mentoring and coaching within the workplace



FNSPRAC601B Establish, supervise and monitor practice systems to conform withlegislation and regulations



FNSICCUS501B Develop and nurture relationships with clients, other professionals and third




party referrers





To achieve a Diploma of Financial Services (Finance/Mortgage BrokingManagement):



• 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




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


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





FNS50604 Diploma of Financial Services (Conveyancing)To attain a Diploma of Financial Services (Conveyancing) 12 units must be achieved:


INDUSTRY CORE UNITS

Achieve the 4 industry core units listed below:






This is the industry pathway for persons typically engaged in providing conveyancingfunctions.

SECTORAL CORE UNITS

Achieve the 6 sectoral core units listed below:








• 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






Package

suggested ELECTIVE UNITS



FNSICORG602B Recruit, select and induct staff


FNSICORG606B Manage flow of information





To achieve a Diploma of Financial Services (Conveyancing):


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


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


• processing documents, maintaining files, managinginformation and scheduling and coordinating competingtasks




• 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


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


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 custom made software to track clients and otherpersons






FNS50704 Diploma of Financial Services (Personal Trustees)To attain a Diploma of Financial Services (Personal Trustees) 12 units must beachieved:


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







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


ELECTIVE UNITS


• 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






Package



FNSICORG515B Provide mentoring and coaching in the workplace



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





To achieve a Diploma of Financial Services (Personal Trustees):


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'




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



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









FNS50804 Diploma of Financial Services (Financial Planning)To attain a Diploma of Financial Services (Financial Planning) 12 units must beachieved:


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






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


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:






Para-planners must select elective unit:


• 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 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.





FNSASIC503BZB Provide advice in Financial Planning











• FNSFPL501B, FNSFPLN502B, FNSFPLN503B, FNSFPLN504B and FNSFPLN505Bare prerequisite units to FNSASIC503ZB.





To achieve a Diploma of Financial Services (Financial Planning):


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


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


• implementing financial plans according to agreed actions,




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


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







FNS50904 Diploma of Financial Services (Superannuation)To attain a Diploma of Financial Services (Superannuation) 12 units must be achieved:


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







SECTORAL CORE UNITS




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




• 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.




FNSSUPR503B Develop client relationship with employers and establish superannuationsystems



FNSSUPR506B Supervise and monitor operational guidelines in a superannuationorganisation

FNSASIC503UB Provide advice in Superannuation *






FNSICORG512B Act as formal complaints officer





BSBFLM409B Implement continuous improvement





To achieve a Diploma of Financial Services (Superannuation):



• 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


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






• 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





FNS51004 Diploma of Financial Services (Financial Markets)To attain a Diploma of Financial Services (Financial Markets) 12 units must beachieved:


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







SECTORAL CORE UNITS

Pathway 1 - Client Advisory Roles




FNSFMKT503B Advise clients on financial risk



Pathway 2 - Dealing Room/Operational Roles










ELECTIVE UNITS


• 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


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.


FNSFMKT601B Price financial transactions







• FNSICCUS506B, FNSFMKT502B, FNSFMKT503B, and FNSICCUS507B areprerequisite units to both FNSASIC503VB and FNSASIC503WB.





To achieve a Diploma of Financial Services (Financial Markets):


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



• ensuring the integrity of systems, records and reporting




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


Learning • adapting to change in technology and/or work practices• applying learning to develop improved practices• coaching and mentoring others to acquire new knowledge


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









FNS51104 Diploma of Financial Risk ManagementTo attain a Diploma of Financial Risk Management 12 units must be achieved:


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







SECTORAL CORE UNITS






ELECTIVE UNITS



Certificate IV level• a maximum of 2 elective units may be selected from other endorsed Training Packages






Package.



FNSICGEN502B Solve workplace problems




FNSICCOMP501B Comply with financial services, legislation, industry and professionalcodes of practice





To achieve a Diploma of Financial Risk Management:



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


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





• 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


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


• maintaining personal competence and identifyingprofessional development opportunities









FNS51204 Diploma of Financial Services (Banking)To attain a Diploma of Financial Services (Banking) 12 units must be achieved:


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







SECTORAL CORE UNITS





ELECTIVE UNITS


• 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.





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


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


FNSICSAM502B Apply advanced selling techniques to selling of financial products andservices







To achieve a Diploma of Financial Services (Banking):


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




• generating a range of options for clients to consider


• 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



• 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






FNS51304 Diploma of Financial Services (Consumer Education)To attain a Diploma of Financial Services (Consumer Education) 12 units must beachieved:


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







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



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






Package.


FNSDMGT502B Assist clients to identify, address and monitor own financial situation


FNSCRDT501B Assess personal and corporate insolvency





To achieve a Diploma of Financial Services (Consumer Education):


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


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




Self management • ensuring all organisational policies and procedures arefollowed




• understanding own work role• working ethically and complying with industry Codes of


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






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.



CORE UNITS


FNSINSV509B Analyse financial, medical and psychological claim assessments


FNSICORG514B Supervise work within a financial services industry





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


FNSWCMP501A Manage workers compensation caseloads


FNSWCMP503A Facilitate workplace assessment with stakeholders for workerscompensation cases

Underwriting units





ELECTIVE UNITS


• 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.





To achieve a Diploma of Personal Injury Management (WorkersCompensation):



• 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




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



all organisational policies and procedures are followed• understanding and acting upon compliance requirements• working ethically and complying with industry Professional


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





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






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


• 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








To achieve a Advanced Diploma of Financial Services:


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




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


• identifying and documenting training needs to meet ongoingcompliance requirements

• reviewing and evaluating training programs









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







PREREQUISITE UNITS


Competency in the following core sectoral units from the Diploma of Accounting must bedemonstrated prior to awarding of this qualification:






SECTORAL CORE UNITS

Achieve the following sectoral core unit:

FNSACCT604B Monitor corporate governance activities

Elective units


•




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



Package.


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


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



NOTE: The following unit may be included in this qualification:

• BSBADM404A Develop and use complex spreadsheets





To achieve a Advanced Diploma of Accounting:



• 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




• implementing internal financial audit to ensure ongoingcompliance

Self management • defining and working within own work role• managing own time and priorities and dealing with


all organisational policies and procedures are followed• understanding and acting upon compliance requirements• working ethically and complying with industry Professional


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 technology to manage financial information and toassist in the planning process





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







SECTOR CORE UNITS

Achieve the following 10 sector core units:

(6 of these units are common to the Diploma of Financial Services [Conveyancing])







FNSCONV601B Obtain and analyse all information for the transaction

FNSICORG603B Negotiate to achieve goals and manage disputes

FNSICORG610B Manage infrastructure





ELECTIVE UNITS


• 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


• 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.



FNSICCUS602B Implement customer service strategy









To achieve a Advanced Diploma of Financial Services (Conveyancing):


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



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




• setting goals in respect to client follow ups

Planning and organising • developing and implementing policies and procedures inrespect to trust accounts and other organisationalrequirements


• locating information on statutory and legislativerequirements


• 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


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




not be interpreted as definitive.




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







SECTOR CORE UNITS



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.




• Please note that FNSASIC503ZB has five Diploma level prerequisite units(FNSFPLN501B, FNSFPLN502B, FNSFPLN503B, FNSFPLN504B, FNSFPLN505B)






To achieve a Advanced Diploma of Financial Services (Financial Planning):


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




• 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


all organisational polices and procedures are followed• working ethically and complying with all industry Codes of


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









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







SECTORAL CORE UNITS





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:



FNSSUPR504B Provide advanced customer services to superannuation clients

* Prerequisite units for this ASIC unit for individuals working outside superannuation




organisations but who provide advice in the product of superannuation (e.g. financialplanners, accountants) are:


FNSICADV502B Provide appropriate and timely information and advice to clients



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


Package.





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*


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



FNSCOMP601B Interpret and manage statutory, legislative and regulatory obligations fororganisational compliance





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





To achieve a Advanced Diploma of Financial Services (Superannuation):


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


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




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


• 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









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.

FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007Assessment Guidelines


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



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:






FBSASIC503UB Provide advice in Superannuation



For Tier 2 compliance the following two ASIC advisory units must be undertaken within aCertificate III or Certificate IV qualification:



Pathways



http://www.asic.gov.au

http://www.asic.com.au

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



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:



• 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.



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.



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



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:






FBSASIC503UB Provide advice in Superannuation



For Tier 2 compliance the following two ASIC advisory units must be undertaken within a



http://www.asic.gov.au

http://www.asic.com.au

Certificate III or Certificate IV qualification:



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



http://www.ibsa.org.au

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,



http://antapubs.dest.gov.au/publications/search.asp

aqf.edu.au

www.dest.gov.au/sectors

www.dest.gov.au

www.dest.gov.au

www.ntis.gov.au

www.dest.gov.au

www.dest.gov.au

http://www.resourcegenerator.gov.au/loadpage.asp?TPAG.htm

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.



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

FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007Competency Standards


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



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



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)



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...



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



Section 1 Industry Capability Competency Standards:

• Account Management• Generic• Industry Knowledge


• Organisational Skills


• Customer Relationship• Product Skills• Sales and Marketing


• 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



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



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:





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




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

FNS04 Financial Services Training Package (Version 2) Date this PDF was generated: 28 September 2007Appendices


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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



requirements.

FNS30404 Certificate III inFinancialServices(MercantileAgents)


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



core and fournew sector coreoptions.

FNS40504 Certificate IV inFinancialServices(InsuranceAssessmentServices)

FNB40501 Certificate IV inFinancial Services(InsuranceAssessment Services)


FNS40604 Certificate IV inFinancialServices(Accounting)

FNB40602 Certificate IV inFinancial Services(Accounting)


FNS40704 Certificate IV inFinancialServices(FinancialPracticeSupport)

FNB40702 Certificate IV inFinancial Services(Financial PlanningSupport)


FNS40804 Certificate IV inFinancialServices(Finance/MortgageBroking)


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



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.


FNB50599 Diploma of FinancialServices (LossAdjusting)

Yes -PathwayOption 1

Reduction inprerequisiteindustry coreunits. Sector



core reducedfrom 8 to 5 froma selectionbased onFNB50499sector core.


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)


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)


New qualification

FNS50804 Diploma ofFinancialServices(FinancialPlanning)

FNB50802 Diploma of FinancialServices (FinancialPlanning)

Yes Reduction inprerequisiteindustry coreunits. No changeto sector corerequirements.



FNS50904 Diploma ofFinancialServices(Superannuation)

FNB50903 Diploma of FinancialServices(Superannuation)


FNS51004 Diploma ofFinancialServices(FinancialMarkets)


New qualification

FNS51104 Diploma ofFinancial RiskManagement


New qualification

FNS51204 Diploma ofFinancialServices(Banking)


New qualification

FNS51304 Diploma ofFinancialServices(ConsumerEducation)


New qualification

FNS60104 AdvancedDiploma ofFinancialServices

FNB60199 Advanced Diploma ofFinancial Services

Yes Reduction inprerequisiteindustry coreunits. No changeto electiverequirements.

FNS60204 AdvancedDiploma ofAccounting

FNB60202 Advanced Diploma ofAccounting


FNS60304 AdvancedDiploma ofFinancialServices(Conveyancing)

FNB60301 Advanced Diploma ofFinancial Services(Conveyancing)


FNS60404 AdvancedDiploma ofFinancialServices(Financial

FNB60402 Advanced Diploma ofFinancial Services(Financial Planning)

Yes Reduction inprerequisiteindustry coreunits. No changeto sector core



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.


FNSICGEN302A Use technology inthe Workplace

FNBFS04B

FNARFS04A

Use technology inthe workplace

Use technology inthe workplace



FNSICGEN303A Work with others FNBFS03B

FNARFS03A

Work as part of ateam

Work as part of ateam

Outcomesdeemed asequivalent.


FNSICGEN304A Apply health andsafety practices in

FNBFS05A

FNARFS05A

Apply health andsafety practices in

Change inElements and



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


FNSICGEN401A Participate informalcommunicationprocesses

Not Applicable Not Applicable This is a newunit ofcompetency.

FNSICGEN402A Participate innegotiations

FNBGEN01A Participate innegotiations


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



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.


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



FNSICORG301A Administer fixedasset register

FNARFS25A Administer fixedasset register


FNSICORG302A Prepare reportsfor management

FNBFIN68A Prepare reports formanagement


FNSICORG401A Contribute toresourceplanning


FNSICORG402A Work withspecialist andoutsourcedservices

FNBSUP05A Work withspecialist andoutsourcedservices


FNSICORG501A Develop abudget

FNBGDS76A Prepare, monitorand analysebudgets


FNSICORG502A Manage abudget


FNSICORG503A Develop anoperational plan

FNBCOM03A Develop anOperationalBusiness Plan


FNSICORG504A Implement anoperational plan

FNBCNV16A Implementoperational plansto achievestrategic targets


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.



and procedures FNACRM10B policy statementsand operatingprocedures

Develop andmaintain creditpolicy andprocedures


Unit merged withFNBFIN58A.Change inElements andPCs.

FNSICORG507A Develop aresource plan


FNSICORG508A Manage aproject


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


FNSICORG511A Manage the stafftraining function

FNBCNV14A Manage stafftraining


FNSICORG512A Act as formalcomplaintsofficer

FNBSUP21A Act as formalcomplaints officer


FNSICORG513A Implementquality systemswithin work area

FNBSUP14A Implement qualitysystems withinwork area


FNSICORG514A Supervise workwithin a financialservices context

FNBSUP13A Supervise workwithin thesuperannuationindustry


FNSICORG515A Provide Not Applicable Not Applicable This is a new unit



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


FNSICORG518A Implementbusinesspractices

FNBLDS91A Implementbusiness practices

Minor change inElements andPCs. Outcomesdeemed asequivalent.

FNSICORG519A Analyse andcomment onmanagementreports

FNBFIN69A Analyse andcomment onmanagementreports


FNSICORG601A Preparestrategic plans

FNBCNV15A Prepare practicestrategic plans


FNSICORG602A Recruit, selectand induct staff

FNBCNV10A Manage therecruitment,selection andinduction of staff


FNSICORG603A Negotiate toachieve goalsand managedisputes

FNBCNV04A Negotiate toachieve goals andmanage disputes


FNSICORG604A Provideleadership andmotivation to in aworkplace team

FNBCNV12A Provide leadershipand motivation toall staff


FNSICORG605A Draw up andexecutiveemploymentcontracts.

FNBCNV11A Manage staffemployment


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



practice FNBCNV17A.Change inElements andPCs.

FNSICORG607A Developsystems

FNBFIN57A Develop financialsystems


FNSICORG608A Control a budget FNBCNV09A Control practicebudget


FNSICORG609A Develop andmanage financialsystems

FNBCNV19A Manage efficientfinancial systems

Outcomes deemedas equivalent.

FNSICORG610A Manageinfrastructure

FNBCNV08A Manage practiceactivities


FNSICORG611A Manage theselection andimplementationof informationtechnologysystems

FNBSUP30A Manage theselection andimplementation ofinformationtechnologysystems


FNSICORG612A Establish andprepareoperationalguidelines in afinancial servicesorganisation

FNBSUP26A Prepare,supervise andmonitoroperationalguidelines in asuperannuationorganisation


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.



Resolvecustomercomplaints

Unit merged withFNBFS06B.Change inElements and PCs.

FNSICCUS303A Provide inboundtelephoneservice


FNSICCUS304A Provideoutboundtelephoneservice


FNSICCUS305A Maintaincustomerdatabase


FNSICCUS401A Deliver aprofessionalservice tocustomers

FNARFS14A Deliver a serviceto customers


FNSICCUS402A Maintaincustomerrelationships

FNBGDS82A Provide on-goingsales service


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


FNSICCUS501A Develop andnurturerelationships withclients, otherprofessionalsand third partyreferrers

FNBCNV03A Liaise withclients, otherprofessionals andthird parties


FNSICCUS502A Monitor clientrequirements


FNSICCUS503A Review serviceperformance


FNSICCUS504A Manage Not Applicable Not Applicable This is a new unit



businesscustomerrelationships

of competency.

FNSICCUS505A Managepremiumbusinesscustomerrelationships


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


IndustryCapability -Product Skills

FNSICPRO401A Develop andmaintain in-depthknowledge ofproducts andservices used byyour organisationor sector


FNSICPRO402A Match financialproducts tocustomer needs


FNSICPRO403A Tailor aproduct/service to

FNBGDS81A Tailor aninsurance




meet customerneeds

package to meetcustomer needs

FNSICPRO501A Allocateauthorities andguidelines fordistribution

FNBGDS74A Allocateauthorities andguidelines fordistribution


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 withFNBCOM04A.Change inElements and PCs.

FNSICPRO602A Establishagreements withintermediaries forproductdistribution

FNBGDS75A Establishagreements withintermediaries forproductdistribution


FNSICPRO603A Develop abusiness plan fora financialproduct

FNBCOM02A Develop aProduct BusinessPlan


FNSICPRO604A Coordinateimplementation ofproduct/fundsupport systems

FNBCOM06A Coordinateimplementation ofProduct/FundSupport Systems


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.



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


FNSICSAM402A Implement asales plan

FNBBRK44A

FNARFS18A

Implement theService SalesPlan

Implement salesand marketingplans


Unit merged withFNBBRK44A. Unitalso replaced withFNSICSAM504A.Change inElements and PCs.

FNSICSAM403A Prospecting fornew clients


FNSICSAM501A Develop a salesplan


FNSICSAM502A Apply advancedselling techniquesto selling offinancial productsand services


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



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


FNSICSAM506A Monitor marketopportunities

FNBGDS79A Monitor marketopportunities


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


IndustryCapability -AccountManagement

FNSICACC301A Administeraccounts payable

FNARFS26A Administeraccounts payable

Minor changein Elementsand PCs.Outcomesdeemed asequivalent.

FNSICACC302A Administerfinancial accounts

FNACRM02B Administeraccounts


FNSICACC303A Prepare, matchand process

FNBFIN60A Prepare, matchand process

Minor changeto PCs.



receipts receipts Outcomesdeemed asequivalent.

FNSICACC304A Prepare and bankreceipts

FNBFIN61A Prepare and bankreceipts

Minor changeto PCs.Outcomesdeemed asequivalent.

FNSICACC305A Process paymentdocumentation

FNBFIN63A Process paymentdocumentation


FNSICACC306A Process journalentries

FNBFIN65A Process journalentries


FNSICACC307A Reconcile andmonitor accountsreceivable

FNBFIN66A Reconcile andmonitor accountsreceivable


FNSICACC401A Evaluate andauthorisepayment requests

FNBFIN62A Evaluate andauthorise paymentrequests


IndustryCapability -Advice

FNSICADV301A Provide generaladvice onfinancial productsand services


FNSASIC301A Establish clientrelationship andanalyse needs

FNBASC01A Establish clientrelationship andanalyse needs


FNSASIC302A Develop, presentand negotiateclient solutions

FNBASC02A Develop, presentand negotiateclient solutions


FNSASIC503SA Provide advice inForeignExchange


FNSASIC503TA Provide advice inManagedInvestments

FNBASC03TA Provide advice inManagedInvestments


FNSASIC503UA Provide advice inSuperannuation

FNBASC03UA Provide advice inSuperannuation

Outcomesdeemed as



equivalent.

FNSASIC503VA Provide advice inDerivatives

FNBASC03VA Provide advice inDerivatives


FNSASIC503WA Provide advice inSecurities

FNBASC03WA Provide advice inSecurities


FNSASIC503XA Provide advice inLife Insurance

FNBASC03XA Provide advice inLife Insurance


FNSASIC503YA Provide advice inInsurance Broking

FNBASC03YA Provide advice inInsurance Broking


FNSASIC503ZA Provide advice inFinancialPlanning

FNBASC03ZA Provide advice inFinancial Planning


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


AccountingCompetencyStandards

FNSACCT401A Process businesstax requirements

FNBACC22A Process businesstax requirements


FNSACCT402A Produce jobcostinginformation

FNBACC23A Produce jobcosting information


FNSACCT403A Prepareoperationalbudgets

FNBACC24A Prepareoperationalbudgets


FNSACCT404A Make decisions ina legal context

FNBACC29A Make decisions ina legal context




FNSACCT405A Prepare financialstatements

FNBACC31A Prepare financialstatements


FNSACCT406A Maintain assetand inventoryrecords

FNBACC32A Maintain asset andinventory records


FNSACCT407A Set up andoperate acomputerisedaccountingsystem

FNBACC21A Set up and operatea computerisedaccounting system


FNSACCT501A Provide financialand businessperformanceinformation

FNBACC01B Provide financialand businessperformanceinformation


FNSACCT502A Prepare incometax returns

FNBACC02B Prepare incometax returns


FNSACCT503A Manage budgetsand forecasts

FNBACC03B Manage budgetsand forecasts


FNSACCT504A Prepare financialreports for areporting entity

FNBACC04B Prepare financialreports for areporting entity


FNSACCT505A Establish andmaintainaccountinginformationsystems

FNBACC05B Establish andmaintainaccountinginformationsystems


FNSACCT506A Implement andmaintain internalcontrolprocedures

FNBACC06B Implement andmaintain internalcontrol procedures


FNSACCT507A Providemanagementaccountinginformation

FNBACC30A Providemanagementaccountinginformation


FNSACCT601A Prepare complextax returns andlodgements

FNBACC07B Prepare complextax returns andlodgements


FNSACCT602A Audit and reporton financialsystems andrecords

FNBACC09B Audit and report onfinancial systemsand records




FNSACCT603A Implement taxplans andevaluate taxcompliance

FNBACC10B Implement taxplans and evaluatetax compliance


FNSACCT604A Monitor corporategovernanceactivities

FNBACC11B Monitor corporatecomplianceactivities


FNSACCT605A Implementorganisationalimprovementprograms

FNBACC12B Implementorganisationalimprovementprograms


FNSACCT606A Conduct internalaudit

FNBACC13B Conduct internalaudit


FNSACCT607A Evaluate businessperformance

FNBACC14B Evaluate businessperformance


FNSACCT608A Evaluateorganisation'sfinancialperformance

FNBACC15B Evaluateorganisation'sfinancialperformance


FNSACCT609A Evaluate financialrisk

FNBACC16B Evaluate financialrisk


FNSACCT610A Develop andimplementfinancialstrategies

FNBACC17B Develop andimplement financialstrategies


FNSACCT611A Implement aninsolvencyprogram

FNBACC18A Implementsolvency program


FNSACCT612A Implementreconstructionplan

FNBACC19A Implementreconstruction plan


FNSACCT613A Prepare andanalysemanagementaccountinginformation

FNBACC27A Prepare andanalysemanagementaccountinginformation


FNSACCT614A Prepare complexcorporate financialreports

FNBACC28A Prepare complexcorporate financialreports


Conveyancing



CompetencyStandards

FNSCONV501A Take instructionsin relation to atransaction

FNBCNV01A Take instructionsin relation to atransaction


FNSCONV502A Prepare and/oranalyse andexecutedocuments

FNBCNV05A Prepare and/oranalyse andexecutedocuments


FNSCONV503A Establish,manage andadminister trustaccounts

FNBCNV06A Establish, manageand administertrust accounts


FNSCONV504A Finaliseconveyancingtransactions

FNBCNV07A Finaliseconveyancingtransactions


FNSCONV601A Obtain andanalyse allinformation forthe transaction

FNBCNV02A Obtain andanalyse allinformation for thetransaction


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


FNSCRDT303A Monitor andcontrol accounts

FNACRM04B Monitor andcontrol accounts


FNSCRDT401A Evaluate credit FNACRM03B Evaluate credit Outcomes



applications applications deemed asequivalent.

FNSCRDT402A Settle applicationandarrangements fordebt finance

FNARFS07A Settle loans Change inElements andPCs.

FNSCRDT403A Determine andestablishappropriatesecurities tominimise risk

FNACRM07B Establishsecurities tominimise risk


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.


FNSCRDT502A Sell debts Not Applicable Not Applicable This is a newunit ofcompetency.

DebtManagementCompetency



Standards

FNSDMGT501A Promoteunderstanding ofthe role andeffective use ofconsumer credit


FNSDMGT502A Assist clients toidentify, addressand monitor ownfinancial situation


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


FNSFMRK403A Present brokingoptions to client


FNSFMRK404A Manage self infinance and/ormortgage brokingindustry


FNSFMRK501A Settle applicationand loanarrangements inthefinance/mortgagebroking industry


FNSFMRK502A Identify anddevelop complexbroking options forclient


FNSFMRK503A Present brokingoptions to client

Not Applicable Not Applicable This is a newunit of



with complex needs competency

FNSFMRK504A Implement complexloan structures


FinancialLiteracyCompetencyStandards

FNSFLIT201A Develop and use apersonal budget


FNSFLIT202A Develop and use asavings plan


FNSFLIT203A Developunderstanding ofdebt and consumercredit


FNSFLIT204A Developunderstanding ofsuperannuation


FNSFLIT205A Developunderstanding ofthe Australianfinancial systemand markets


FNSFLIT501A Assist customers tobudget andmanage ownfinances


FNSFLIT502A Facilitate customerawareness of theAustralian financialsystem andmarkets


FNSFLIT503A Promote basicfinancial literacyskills


FNSFLIT504A Facilitate customerunderstanding ofpersonal financialstatements


FNSFLIT505A Facilitate customer Not Applicable Not Applicable This is a new



or employeeunderstanding ofsuperannuation asan investment tool

unit ofcompetency

FinancialMarketsCompetencyStandards

FNSFMKT301A Completetransactionprocessing

FNBASX05A Completetransactionprocessing


FNSFMKT401A Reconcilefinancialtransaction


FNSFMKT501A Analyse financialmarkets andinformation


FNSFMKT502A Analyse financialmarket productsfor client


FNSFMKT503A Advice clients onfinancial risk


FNSFMKT504A Completesettlement andconfirmationprocesses


FNSFMKT601A Price financialtransactions


FNSFMKT602A Trade financialproducts


FNSFMKT603A Implement andmanagecompliance withstockbrokingregulations andstandards

FNBASX06A Implement andmanagecompliance withStockbrokingregulations andstandards


FinancialPlanningCompetencyStandards



FNSFPLN401A Extract andanalyseinformation onspecified financialstrategies andproducts to setguidelines

FNBFPS01A Extract andanalyseinformation onspecified financialstrategies andproducts to setguidelines


FNSFPLN402A Prepare financialplans to setstrategies andguidelines

FNBFPS02A Prepare financialplans to setstrategies andguidelines


FNSFPLN403A Implementfinancial plan topredeterminedguidelines

FNBFPS03A Implementfinancial plan topredeterminedguidelines


FNSFPLN501A Comply withfinancial planningpractice ethicaland operationalguidelines andregulations

FNBFPS04A Comply withfinancial planningpractice ethicaland operationalguidelines andregulatoryrequirements


FNSFPLN502A Conduct financialplanning analysisand research

FNBFPS05A Conduct financialplanning analysisand research


FNSFPLN503A Develop andprepare financialplan

FNBFPS06A Develop andprepare financialplan


FNSFPLN504A Implementfinancial plan

FNBFPS07A Implementfinancial plan


FNSFPLN505A Review financialplan and provideongoing service

FNBFPS08A Review financialplan and provideongoing service


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



planning advice planning advice deemed asequivalent.

FNSFPLN508A Conduct complexfinancial planningresearch

FNBFPS11A Conduct complexfinancial planningresearch


FNSFPLN601A Provide technicaland professionalguidance

FNBFPS13A Provide technicaland professionalguidance


FNSFPLN602A Determine clientrequirements andexpectations forclients withcomplex needs

FNBFPS14A Determine clientrequirements andexpectations forclients withcomplex needs


FNSFPLN603A Providecomprehensivemonitoring andongoing service

FNBFPS15A Providecomprehensivemonitoring andongoing service


FNSFPLN604A Develop complexand/or innovativefinancial planningstrategies

FNBFPS16A Develop complexand/or innovativefinancial planningstrategies


FNSFPLN605A Present andnegotiatecomplex and/orinnovativefinancial plan tothe client

FNBFPS17A Present andnegotiate complexand/or innovativefinancial plan tothe client


FNSFPLN606A Implementcomplex and orinnovativefinancial plan

FNBFPS18A Implementcomplex and orinnovative financialplan


GeneralInsuranceCompetencyStandards

FNSGINS401A Provide technicalguidance

FNBGEN30A Provide technicalguidance


FNSGINS402A Inspect quality ofwork

FNBGEN31A Inspect quality ofwork


FNSGINS403A Estimate jobs FNBGEN32A Estimate jobs Outcomes



deemed asequivalent.

FNSGINS404A Inspect damage anddevelop scope ofwork

FNBGEN33A Inspect damage anddevelop scope ofwork


FNSGINS405A Inspect vehiclesystems/componentsand determinepreferred repairaction

FNBGEN34A Inspect vehiclesystems/componentsand determinepreferred repairaction


FNSGINS406A Inspectvehicle/property forsaleable items anddetermine theirvalue

FNBGEN35A Inspectvehicle/property forsaleable items anddetermine theirvalue


InsuranceBrokingCompetencyStandards

FNSINBK301A Implementinsurance programfor broking clients

FNBBRK50A Implement new orrenewed InsuranceProgram


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


FNSINBK501A Prepare a newbusinesssubmission for abroking client

FNBBRK46A Preparesubmissions for newbusiness




FNSINBK502A Monitor clientrequirements

FNBBRK47A Monitor clientrequirements


FNSINBK503A Implement changesto broking client'sinsurance program

FNBBRK48A ImplementInsurance Programchanges


FNSINBK504A Identify and adviseon significant riskchanges to brokingclient insurances

FNBBRK49A Identify and adviseon significantchanges to clientrisk exposure


FNSINBK505A Assess andnegotiate complexrisk portfolio forbroker client atrenewal

FNBBRK51A Assess and renewcomplex riskportfolio


FNSINBK506A Review incidence ofloss for brokingclients

FNBBRK52A Monitor and reviewincidence of loss


FNSINBK507A Meet compliancerequirementsrelating to insurancebroking

NotApplicable

Not Applicable This is a new unitof competency

FNSINBK508A Negotiate complexclaims settlementfor insurancebroking client

FNBBRK56A Negotiate complexclaims settlement


FNSINBK601A Develop guidelinesfor broking services

FNBBRK43A Develop guidelinesfor Broking services


FNSINBK602A Implement thebroking servicesystem

FNBBRK45A Implement theService SupportSystem


FNSINBK603A Review insurancebrokerage serviceperformance

FNBBRK53A Review serviceperformance


Life DistributionCompetency



Standards

FNSLDIS501A Prepare adistribution plan

FNBLDS83A Prepare adistribution plan


FNSLDIS502A Resource thedistribution plan

FNBLDS84A Resourcedistribution plan


FNSLDIS503A Establish servicesto provide advice

FNBLDS85A Establish servicesto provide advice


FNSLDIS504A Implement andmanage thedistribution plan

FNBLDS86A Implement andmanage thedistribution plan


Life InsuranceCompetencyStandards

FNSLIFE301A Process and issuea life insurancepolicy

FNBLIF28A Process and issuenew businessproposal


FNSLIFE302A Receive andprocess servicerequests

FNBLIF31A Receive andprocess servicerequests


FNSLIFE303A Process policypayments andterminations

FNBLIF32A Process policypayments andterminations


FNSLIFE401A Undertake lifeinsurance riskassessment

FNBLIF29A Undertake riskassessment


FNSLIFE402A Settle policypayments andterminations

FNBLIF33A Settle policypayments andterminations


FNSLIFE501A Assessextraordinary risks

FNBLIF30A Assessextraordinary risks


Loss AdjustingCompetencyStandards

FNSLOSS501A Plan and FNBLOS94A Plan and Outcomes



implement lossinvestigation

implement lossinvestigation

deemed asequivalent.

FNSLOSS502A Evaluate collectedinformation

FNBLOS95A Evaluate collectedinformation


FNSLOSS503A Report findingsand provideguidance toinvolved parties

FNBLOS96A Report findings andprovide guidance toinvolved parties


FNSLOSS504A Negotiate/effectsettlement

FNBLOS97A Negotiate/effectsettlement


FNSLOSS505A Provide ancillaryservices

FNBLOS98A Provide ancillaryservices


WorkersCompensationCompetencyStandards

FNSWCMP401A Plan andimplementrehabilitationand return towork strategies

FNBWKC25A Plan and implementrehabilitation andreturn to workstrategies


FNSWCMP402A Representworkerscompensationagent/insurerat conciliationand reviewhearings

FNBWKC26A Represent workerscompensationagent/insurer atconciliation andreview hearings


FNSWCMP403A Educate clientson workerscompensationissues

FNBWKC27A Educate clients onworkerscompensation issues


InsuranceServicesCompetencyStandards

FNSINSV301A Evaluate riskfor renewalbusiness

FNBGEN02A Evaluate risk forrenewal business




FNSINSV302A Processalteration toinsurancepolicy

FNBGEN09A Process alteration toinsurance policy


FNSINSV303A Issue contractof insurance

FNBGEN08A Issue contract ofinsurance


FNSINSV304A Issue renewalbusiness

FNBGEN07A Issuerenewal/cancellationadvice

Unit split into 2new units (alsoseeFNSINSV305A).Change inElements andPCs.

FNSINSV305A Issuecancellationadvice

FNBGEN07A Issuerenewal/cancellationadvice


FNSINSV306A Receive andrecord/ registerclaim

FNBGEN11A Receive and record/register claim


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.



FNSINSV310A Process aclaimspayments

FNBGEN16A Process a claimspayments


FNSINSV401A Evaluate riskfor newbusiness

FNBGEN04A Evaluate risk for newbusiness


FNSINSV402A Underwritenew business

FNBGEN05A Underwrite newbusiness


FNSINSV403A Surveypotential riskexposure

FNBGEN06A Survey potential riskexposure


FNSINSV404A Underwriterenewalbusiness

FNBGEN03A Underwrite renewalbusiness


FNSINSV405A Analyseinsuranceclaims

FNBGEN12A Analyse insuranceclaims


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


FNSINSV502A Reviewoperationalperformance ofthe portfolio

FNBGEN20A Review operationalperformance ofportfolio


FNSINSV503A Undertake postloss riskmanagement

FNBGEN18A Undertake post lossrisk management


FNSINSV504A Negotiatetreatyreinsurance

FNBGEN24A Process facultativeand treatyreinsurance claims

FNSINSV504A isa new unitderived fromFNBGEN24A.

FNSINSV505A Determine riskrating forinvestment and




insuranceproducts

FNSINSV506A Investigateclaims

FNBGEN15A Investigate claims Outcomesdeemed asequivalent.

FNSINSV507A Implementclaim recoveryprocedures

FNBGEN17A Implement claimrecovery procedures


FNSINSV508A Review claimssettlementpolicies andprocedures

FNBGEN19A Review claimssettlement policiesand procedures


FNSINSV509A Analysefinancial,medical andpsychologicalclaimsassessments


FNSINSV510A Case manageclaimsrehabilitation


FNSINSV511A Managenon-routine,complex claims

FNBLIF34A Resolve significantclaims


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




claims

FNSINSV514A Providedecisions onlegal liabilityand indemnityof a claim


FNSINSV515A Review andupdate claimreserves inportfolio


FNSINSV516A Evaluate andreport on statusof claimsportfolio toidentifiedstakeholders


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


FNSMERC402A Initiate legalrecovery ofdebts

FNBMERC06A Initiate debt recovery Change inElements andPCs. Outcomesdeemed asequivalent.

PersonalTrusteesCompetency



Standards

FNSPERT301A Establishentitlements toan intestateestate


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


FNSPERT402A Administer anintestate estate


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.



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).


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.



acceptappointmentunder FinancialAdministrationOrders

non-complex situations

Establish terms ofAttorneyship/Guardianshipin complex situations


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 mergedwithFNAPTA05AandFNAPTA13A.Unit also splitand replacedwithFNSPERT405A.Change inElements andPCs.

FNSPERT501A Advise clientson truststructures


FNSPERT502A Advise clients in FNAPTA08A Assist clients in Estate Unit split and



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.



PracticeManagementCompetencyStandards

FNSPRAC501A Manage andmaintainsmall/mediumbusinessoperations


FNSPRAC601A Establish,supervise andmonitor practicesystems toconform with

FNBFPS23A Establish,supervise andmonitor financialplanning practicesystems to ensure




legislation andregulations

conformity withlegislative andregulatoryrequirements

FNSPRAC602A Improve thepractice


FNSPRAC603A Grow thepractice


FNSPRAC701A Prepare,supervise andmonitorapplication ofpracticeguidelines

FNBFPS20A Prepare,supervise andmonitorapplication offinancial planningpractice guidelines


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).


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).




RiskManagementCompetencyStandards

FNSRISK501A Undertake riskidentification


FNSRISK502A Assess risks Not Applicable Not Applicable This is a new unitof competency

FNSRISK601A Develop andimplement riskmitigation plan


FNSRISK602A Determine andmanage riskexposurestrategies


ComplianceCompetencyStandards

FNSCOMP401A Conductindividual workwithin acomplianceframework


FNSCOMP402A Facilitatecompliance withstatutory,legislative andregulatoryrequirements viastaff education

FNACRM06B

FNACRM09B

Facilitatecompliance withStatutory,Legislative andLegalrequirements

Managecompliance withstatutory,legislative andlegalrequirements



FNSCOMP501A Comply withfinancial serviceslegislation,industry andprofessionalcodes of practice

FNBLDS90A Comply withregulations


FNSCOMP601A Interpret andmanage

FNBFIN59A

FNBCOM10A

Interpret statutoryand regulatory




statutory,legislative andregulatoryobligations fororganisationalcompliance

requirements andensurecompliance

Managecontractual,legislative andCode of Practiceobligations andrequirements

PCs.


FNSCOMP602A Develop andimplementcompliancesystems

FNBSUP15A Implementcompliancesystems withinwork area


Retail FinancialServicesCompetencyStandards

FNSRETA301A Providecustomer servicein a retail agency


FNSRETA302A Handle foreigncurrencytransactions


FNSRETA303A Monitor andmanagetransactions


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



FNSRETA305A).Change inElements andPCs.

FNSRETA306A Processcustomertransactions

FNARFS09A

FNARFS12A

Processcustomeraccounts

Processspecialistservices



FNSRETA307A Maintain ATMservices

FNARFS10A Maintain ATMservices


FNSRETA308A Preparestatistical and adhoc reports

FNARFS19A Preparestatistical and adhoc reports


FNSRETA309A Balance cashholdings

FNARFS23A Balance cashholdings


FNSRETA310A Maintain mainbank account

FNARFS24A Maintain mainbank account


FNSRETA401A Communicatenew technologiesto customers


FNSRETA402A Administer creditcard services

FNARFS11A Administer cardservices

Unit split into 2new units (alsoseeFNSRETA304A).Change inElements andPCs.

FNSRETA403A Administerportfolios

FNARFS13A Administerportfolios

Outcomesdeemed as



equivalent.

FNSRETA404A Preparegovernmentreturns

FNARFS20A Preparegovernmentreturns


FNSRETA501A Produce financialstatements

FNARFS21A Produce financialstatements


BankingCompetencyStandards

FNSBANK401A Coordinate a smallbusiness customerportfolio


FNSBANK402A Align bankingproducts with theneeds of smallbusinesscustomers


FNSBANK403A Provide services ina RuralTransaction Centre


FNSBANK501A Manage bankingand servicestrategy for smallbusinesscustomers


FNSBANK502A Manage servicesin a RuralTransaction Centre


FNSBANK503A Provide businessadvisory serviceswithin a financialservices context


Self ManagedSuperannuationFundsCompetencyStandards

FNSSMSF401A Process SelfManagedSuperannuationcontributions




FNSSMSF501A Invest SelfManagedSuperannuationFunds assets


FNSSMSF502A Manage changesto fund structure


FNSSMSF503A Manageadministrationactivities of asuperannuationfund


FNSSMSF504A Meet SelfManagedSuperannuationFunds compliancerequirements


FNSSMSF505A Support trustee inthe selection andperformancemonitoring ofoutsourcedservices


FNSSMSF601A Provide advice inSelf ManagedSuperannuationFunds


FNSSMSF602A Apply taxationrequirements whenadvising in SelfManagedSuperannuationFunds


FNSSMSF603A Apply legislativeand operationalrequirements toadvising in SelfManagedSuperannuationFunds


SuperannuationCompetencyStandards

FNSSUPR301A Establish,maintain and

FNBSUP02A Establish, processand maintain




processsuperannuationrecords

FNBSUP37A records

Maintain employerand memberrecords

PCs.


FNSSUPR302A Processsuperannuationcontributions

FNBSUP03A Processsuperannuationcontributions


FNSSUPR303A ProcesssuperannuationETP benefits

FNBSUP04A ProcesssuperannuationETP benefits


FNSSUPR304A Implement trusteeinvestmentinstructions

FNBSUP39A Implement trusteeinvestmentinstructions


FNSSUPR305A Processsuperannuationfund payments

FNBSUP40A Processsuperannuationfund payments


FNSSUPR306A Terminatesuperannuationplans

FNBSUP42A Terminatesuperannuationplans


FNSSUPR401A Process complexsuperannuationbenefit and/orinsurance claim

FNBSUP06A Process complexbenefits andinsurance claims


FNSSUPR402A Assist in meetingsuperannuationcompliancerequirements

FNBSUP08A Meetsuperannuationcompliancerequirements


FNSSUPR403A Work within adefined benefitfund

FNBSUP09A Work within adefined benefit fund


FNSSUPR404A Administerretirement incomestreams

FNBSUP10A Administerretirement incomestreams


FNSSUPR405A Establish andcustomisecomplex employeraccounts

FNBSUP11A Establish andcustomise complexemployer accounts


FNSSUPR406A Implement fundreview practices

FNBSUP12A Participate in theimplementation ofquality assuranceand fund reviewpractices




FNSSUPR407A Establish andmaintain fund orplan

FNBSUP35A Establish andmaintain fund orplan


FNSSUPR408A Assess complexsuperannuationbenefit and/orinsurance claims

FNBSUP41A Assess significantfund payments


FNSSUPR501A Supervisecomplaintsprocedures

FNBSUP16A Supervisecomplaintsprocedures


FNSSUPR502A Supervise insurerliaison

FNBSUP17A Supervise insurerliaison

Change in PCs.Outcomesdeemed asequivalent.

FNSSUPR503A Develop clientrelationships withemployers andestablishsuperannuationsystems

FNBSUP18A Develop clientrelationships withemployers andestablishsuperannuationsystems


FNSSUPR504A Provide advancedcustomer serviceto superannuationclients

FNBSUP19A Provide advancedcustomer servicefor superannuationclients


FNSSUPR505A Produce reportsforsuperannuation

FNBSUP20A Produce reports forsuperannuationservices


FNSSUPR506A Supervise andmonitoroperationalguidelines in asuperannuationorganisation

FNBSUP23A Supervise andmonitor operationalguidelines in asuperannuationorganisation


FNSSUPR507A Reviewcompliance withregulatory andcontractualrequirements

FNBSUP36A Review compliancewith regulatory andcontractualrequirements


FNSSUPR508A Provide effectiveinformation to

FNBSUP38A Provide effectiveinformation to

Outcomesdeemed as



members members equivalent.

FNSSUPR601A Liaise with andsupport trustees

FNBSUP27A Liaise with andsupport trustees


FNSSUPR602A Manage officialcomplaintsprocedures andproceedings

FNBSUP28A Manage officialcomplaintsprocedures andproceedings


FNSSUPR603A Integrateinvestmentstrategy with fundoperations

FNBSUP29A Integrateinvestment strategywith fundoperations




FNS04 Financial Services Training PackageFinancial Services Training Package (Volume 1 -

Introduction, Qualifications Framework, AssessmentGuidelines)Volume 1 of 3

FNS04 Financial Services Training PackageFinancial Services Training Package (Volume 1 - Introduction, Qualifications Framework, Assessment

Guidelines)

Volume 1 of 3

Documents

FNS04 Financial Services Training Package · FNS04 Financial Services Training Package - ... Overview ... Skill sets for corporate superannuation fund trustee work