Courses - FNS50504 Diploma of Financial Services (Finance/Mortgage Broking Management)
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 16 May 2010 from
http://www.ntis.gov.au/?/trainingpackage/FNS04/qualification/FNS50504/rules
about the FNS50504 Diploma of Financial Services (Finance/Mortgage Broking Management) Course.
FNS50504: Diploma of Financial Services (Finance/Mortgage Broking Management)
Qualification notes
To attain a Diploma of Financial Services (Finance/Mortgage Broking Management) 16 units 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 and mortgage broking, including those who are independent and work through an aggregator, or who need to manage a workplace team. In addition to undertaking duties as described in the FNS40804 Certificate IV in Financial Services (Finance/Mortgage Broking), they may also perform duties such as:
- recommend loan combinations which meet clients' needs
- assess prospective borrowers' eligibility to obtain finance and their capacity to service debt
- operate and build their own independent business
- broker complex and/commercial leases and equipment finance, commercial finance, project finance and finance for property developers
- act as licensees.
Industry Core Units
Achieve the following 4 industry core units:
FNSICGEN301B Communicate in the workplace
FNSICGEN302B Use technology in the workplace
FNSICGEN304B Apply health and safety practices in the workplace
FNSICIND401B Apply principles of professional practice to work in the financial services industry
Note: Several of the core units listed above are common to Certificate III and Certificate IV qualifications from the FNS04 Financial Services Training Package. Those who have previously gained a Certificate III or Certificate IV will have had all or some of these units assessed. If these core units have not been previously assessed they will need to be demonstrated prior to awarding of a Diploma qualification.
Prerequisite Units
Achieve the following 4 prerequisite units:
Competency in the following core sectoral units from the Certificate IV in Financial Services (Finance/Mortgage Broking) must be demonstrated prior to awarding of this qualification:
FNSCOMP501B Comply with financial services legislation, industry and professional codes of practice
FNSFBRK401B Prepare/present loan application on behalf of finance or mortgage broking client
FNSFBRK402B Provide finance/mortgage broking services
FNSFBRK403B Present broking options to client
Sectoral Core Units
Achieve the following 5 sectoral core units:
FNSFBRK502B Identify and develop complex broking options for client
FNSFBRK503B Present broking options to client with complex needs
FNSFBRK504B Implement complex loan structures
FNSRISK501B Undertake risk identification
FNSRISK502B Assess risks
Elective Units
Achieve at least 3 elective units. The 3 elective units may be selected as follows:
- all 3 elective units may be selected from the list of units suitable at Diploma level
- of the 3 elective units, up to 2 elective units may be selected from the list of units suitable at Certificate IV level and up to 2 electives may be selected from the list of units suitable at Advanced Diploma level
- of the 3 elective units, 2 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 Training Package.
Suggested Elective Units
FNSFBRK404B Manage self in finance and/or mortgage broking industry
FNSFBRK501B Settle application and loan arrangements in the finance/mortgage broking industry
FNSRISK602B Determine and manage risk exposure strategies
FNSICORG503B Develop an operational plan
FNSICORG504B Implement an operational plan
FNSICORG505B Manage staff performance to achieve strategic targets
FNSICORG506B Develop and monitor policy and procedures
FNSICORG515B Provide mentoring and coaching within the workplace
FNSICORG604B Provide leadership and motivation in a workplace team
FNSPRAC501B Manage and maintain small/medium business operations
FNSPRAC601B Establish, supervise and monitor practice systems to conform with legislation and regulations
FNSPRAC602B Improve the practice
FNSPRAC603B Grow the practice
FNSICCUS501B Develop and nurture relationships with clients, other professionals and third party referrers
Employability Skills for FNS50504: Diploma of Financial Services (Finance/Mortgage Broking Management)
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
- building trust and a rapport with clients
- developing and writing reports to specifications
- documenting clients' complex or special needs to protect interests of clients and broker
- interpreting client requirements and tailoring products to meet their needs
- preparing and presenting correspondence in appropriate electronic format
- presenting complex information to the client
- questioning, listening and clarifying clients' requirements
- using effective telephone techniques and having the ability to negotiate solutions with clients and colleagues
- using excellent customer service skills and maintaining an on-going relationship with clients
- using excellent interpersonal skills to meet a client's personal needs
Teamwork
- conducting performance appraisals
- consulting other financial services professionals as required
- coordinating actions with other professionals
- making constructive contributions to group decision making processes
- managing the process of monitoring and reviewing team performance
- providing feedback, support and encouragement to team members
Problem solving
- checking the accuracy of calculations
- conducting trend and risk analyses including product modelling
- determining security protocols
- identifying and resolving inconsistencies in information
- identifying OHS hazards and risk control
- planning for contingencies and using problem solving techniques to resolve workplace issues
- testing strategic assumptions
- undertaking risk identification, evaluating risk controls and conducting probability assessments
Initiative and enterprise
- analysing, modeling, prioritising and measuring risk loan structures/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 achieve optimum results
- creating action plans for complex loans to meet timelines and priorities
- establishing and maintaining records
- undertaking research and developing complex solutions
Self management
- acting as a role model for others
- managing own time and priorities and dealing with contingencies
- planning one's work schedule and monitoring and evaluating own work performance
- understanding own work role and working within it
- working ethically and complying with all industry Codes of Practice and legislative requirements
Learning
- adapting to change in technology and/or work practices
- developing and maintaining personal competence
- following workplace safety procedures
- identifying and encouraging opportunities for professional development
- seeking assistance and expert advice on behalf of clients
Technology
- applying technology through the utilisation and application of computers, organisational software, organisational templates and telecommunication devices
- conducting web searches to research information
- using business technology to access, organise and monitor information
This table is a summary of employability skills that are typical of this qualification and should not be interpreted as definitive.
Classifications
ASCO 321 FINANCE ASSOCIATE PROFESSIONALS
ASCED4 0811 Banking, Finance and Related Fields
ANZSIC 73 Finance
ANZSCO 222112 Finance Broker
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: 16th May 2010
First published: 13th April 2010
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