Courses - FNS40107 Certificate IV in Financial Services
Adcom Training Solutions provides training that covers all of this information and we encourage you to Enquire NOW info@adcomtraining.com if you are interested in completing this qualification.
This page provides information collected on 23 May 2010 from http://www.ntis.gov.au/?/trainingpackage/FNS04/qualification/FNS40107/rules
about the FNS40107 Certificate IV in Financial Services.
FNS40107 Certificate IV in Financial Services
Qualification notes
To provide maximum flexibility for packaging qualifications and employability outcomes, the FNS40107 Certificate IV in Financial Services has been identified as a root qualification that includes the existing general qualification, one new specialist qualification and two existing specialist qualifications.
The specialist qualifications are in the following areas:
- bookkeeping
- insurance assessment services
- insurance services
FNS40107 Certificate IV in Financial Services
To attain a FNS40107 Certificate IV in Financial Services 13 units must be achieved:
- 4 industry core units, plus
- 9 elective units
Where the industry core units have been demonstrated as a requirement of Certificate III in Financial Services exemption is provided.
This qualification is designed to reflect the role of employees working in financial services who 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 through recognition of competence or may have been achieved through the awarding of a lower level qualification:
Achieve the following 4 industry core units:
FNSICIND401B Apply principles of professional practice to work in the financial services industry
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
Elective Units
Achieve at least 9 elective units. The elective units may be selected as follows:
- all 9 elective units may be selected from the list of suitable units at Certificate IV level
- of the 9 elective units, 1 unit may be selected from the list of units suitable at Certificate III level and up to 2 units may be selected from the list of units suitable at Diploma level
- of the 9 elective units, up to 3 units may be selected from other endorsed Training Packages in accordance with other packaging guidelines for this qualification
- the choice of electives should be appropriate to the level and integrity of the qualification and to the workplace outcomes it is designed to meet
- if Tier 2 ASIC compliance is sought, the ASIC aligned units FNSASIC301B and FNSASIC302B must be selected. These two units are aligned to AQF levels III and IV
- see Levels Chart for full list of units available in the FNS04 Financial Services Training Package
FNS40107 Certificate IV in Financial Services (Insurance Assessment Services)
To attain a FNS40107 Certificate IV in Financial Services (Insurance Assessment Services) 13 units must be achieved:
- 4 industry core units, plus
- 6 sectoral core units, plus
- 3 elective units
This qualification is designed to reflect the role of employees working across all parts of the insurance industry who perform such duties as:
- inspecting and assessing losses and establishing quantum
- reporting findings and making cost effective settlements
- liaising with interested parties
- assessing and negotiating complex losses and making recommendations to interested parties
- applying risk management guidelines
Prerequisite Requirements
Where the industry core units have been demonstrated as a requirement of Certificate III in Financial Services exemption is provided
Industry Core Units
The following units are also required for this qualification, but are often assessed through recognition of competence or may have been achieved through the awarding of a lower level qualification:
Achieve the following 4 industry core units:
FNSICIND401B Apply principles of professional practice to work in the financial services industry
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
Sectoral Core Units
Achieve 6 sectoral core units made up as follows:
Achieve 2 of the following sectoral core units:
FNSINSV309B Settle claims
FNSICGEN402B Participate in negotiations
FNSICGEN404B Resolve disputes
Achieve 4 of the following sectoral core units:
FNSLOSS501B Plan and implement loss investigation
FNSLOSS502B Evaluate collected information
FNSLOSS503B Report findings and provide guidance to involved parties
FNSGINS401B Provide technical guidance
FNSGINS402B Inspect quality of work
FNSGINS403B Estimate jobs
FNSGINS404B Inspect damage and develop scope of work
FNSGINS405B Inspect vehicle systems/components and determine preferred repair action
FNSGINS406B Inspect vehicle/property for saleable items and determine their value
FNSICPRO401B Develop and maintain in-depth knowledge of products and services used by your organisation or sector
NOTE: When selecting units from above please note that:
FNSLOSS501B is a prerequisite unit to FNSLOSS502B
FNSLOSS502B is a prerequisite unit to FNSLOSS503B
Elective Units
Achieve at least 3 elective units. The 3 elective units may be selected as follows:
- all 3 elective units may be selected from the list of units suitable at Certificate IV level
- of the 3 elective units, up to 2 units may be selected from the list of units suitable at Diploma level
- of the 3 elective units, up to 2 units may be selected from other endorsed Training Packages in accordance with other packaging guidelines for this qualification
- the choice of electives should be appropriate to the level and integrity of the qualification and to the workplace outcomes it is designed to meet
- other insurance related qualifications within the FNS04 Financial Services Training Package carry prerequisite requirements on a number of the sector core and elective units. It is recommended that these qualifications are investigated prior to selecting electives to allow for future planning
- the remaining sectoral core units may be selected as electives
- the unit listed below is suggested as an elective
- see Levels Chart for full list of units available in the FNS04 Financial Services Training Package.
Suggested Elective Unit
FNSICPRO401B Develop and maintain in-depth knowledge of products and services used by your organisation or sector
FNS40107 Certificate IV in Financial Services (Insurance Services)
To attain a FNS40107 Certificate IV in Financial Services (Insurance Services) 13 units must be 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 contract within delegated authorities
- answering insurance inquiries from clients and from insurance agents, consultants and other company personnel
- preparing reports for insurance purposes
Prerequisite Requirements
Where the industry core units have been demonstrated as a requirement of Certificate III in Financial Services exemption is provided.
Industry Core Units
The following units are also required for this qualification, but are often assessed through recognition of competence or may have been achieved through the awarding of a lower level qualification:
Achieve the following 4 industry core units:
FNSICIND401B Apply principles of professional practice to work in the financial services industry
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
Sectoral Core Units
Achieve 4 of the following sectoral core units:
FNSINSV403B Survey potential risk exposure
FNSINSV404B Underwrite renewal business
FNSINSV401B Evaluate risk for new business
FNSINSV402B Underwrite new business
FNSINSV405B Analyse insurance claims
FNSINSV506B Investigate claims
FNSINSV406B Use specialist terminology in insurance claims
FNSICGEN402B Participate in negotiations
FNSICGEN403B Collect, assess and use information
FNSICGEN404B Resolve disputes
Elective Units
Achieve at least 5 elective units. The 5 elective units may be selected as follows:
- all 5 elective units may be selected from the list of units suitable at Certificate IV level
- of the 5 elective units, up to 2 units may be selected from other endorsed Training Packages in accordance with other packaging guidelines for this qualification
- of the 5 elective units, up to 1 unit may be selected from the list of units suitable at Certificate III level and up to 1 unit may be selected from the list of units suitable at Diploma level
- the remaining sectoral core units may be selected as elective units
- the choice of electives should be appropriate to the level and integrity of the qualification and to the workplace outcomes it is designed to meet
- other insurance related qualifications within the FNS04 Financial Services Training Package carry prerequisite requirements on a number of the sector core and elective units. It is recommended that these qualifications are investigated prior to selecting electives to allow for future planning
- see Levels Chart for full list of units available in the FNS04 Financial Services Training Package.
Employability Skills for FNS40107 Certificate IV in Financial Services
The following table contains a summary of the employability skills for this qualification. This table should be interpreted in conjunction with the detailed requirements of each unit of competency packaged in this qualification. The outcomes described here are broad industry requirements that may vary depending on the packaging options.
Employability Skill Industry/enterprise requirements for this qualification include
Communication
- communicating ideas and information cognisant of clients' social and cultural diversity and special needs
- consulting, questioning, clarifying and evaluating information
- consulting and negotiating with internal and external stakeholders
- demonstrating selling skills including matching needs with products/services
- interpreting customer needs
- investigating and negotiating to resolve disputes within area of responsibility
- possessing sound presentation skills with an ability to 'read' verbal and non-verbal body language
- using a range of techniques to elicit feedback from customers
- using specialist language in written and oral communication
- using well developed interpersonal skills and have the ability produce a wide range of reports and make presentations as required
- writing in a range of styles to suit different audiences
Teamwork
- coaching and mentoring staff to reach minimum customer service standards
- developing a rapport with clients when identifying their needs, 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 to record, track and retrieve information
- using electronic communication devices and processes i.e. internet, intranet, fact finder, email to produce written correspondence, charts, diagrams, schedules and reports
This table is a summary of employability skills that are typical of this qualification and should not be interpreted as definitive
Classifications
ASCO 59 Other Advanced Clerical and Service Workers
ASCED4 0811 Banking, Finance and Related Fields
ANZSCO 552000 Financial and Insurance Clerks
Adcom Training Solutions provides training that covers all of this information and we encourage you to Enquire NOW info@adcomtraining.com if you are interested in completing this qualification.
Last update: 23rd May 2010
First published: 23rd May 2010
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