Course Title: Apply principles of professional practice to work in the financial services industry

Part B: Course Detail

Teaching Period: Term1 2017

Course Code: EMPL7068C

Course Title: Apply principles of professional practice to work in the financial services industry

School: 650T Vocational Business Education

Campus: City Campus

Program: C4362 - Certificate IV in Bookkeeping

Course Contact: Ben Sethia

Course Contact Phone: +61 3 9925 1374

Course Contact Email:

Name and Contact Details of All Other Relevant Staff

Nominal Hours: 30

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Pre-requisites and Co-requisites


Course Description

This unit describes the skills and knowledge required to identify industry professional approaches to procedures, guidelines, policies and standards, including ethical requirements, and to model and meet expectations of these in all aspects of work.

It applies to individuals who work in senior roles in the financial services industry and underpins other specialist units used in all sectors of the industry.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSINC401 Apply principles of professional practice to work in the financial services industry


1. Identify scope, sectors and responsibilities of industry

Performance Criteria:

1.1    Identify and consider external forces impacting on financial services industry while carrying out activities

1.2    Identify main sectors of financial services industry and interrelationship between sectors in carrying out activities

1.3          Identify roles and responsibilities of other participants in financial services industry in carrying out activities.


2. Identify and apply guidelines, procedures and legislation

Performance Criteria:

2.1    Collect, apply and analyse information on relevant legislation, regulations and codes of practice as applied to financial services industry

2.2    Clarify own work practice and regularly refine in light of relevant legislation, regulations and codes of practice, and organisational policy, guidelines and procedures

2.3          Apply relevant codes of practice in an ethical approach to workplace practice and decisions


3. Identify sustainability issues

Performance Criteria:

3.1    Obtain and analyse information on sustainability policies, strategies and impacts on industry from a range of sources

3.2    Identify and promote environmental sustainability as an integral part of business planning and business opportunity

3.3          Incorporate and support triple bottom line principles in work planning.


4. Manage information

Performance Criteria:

4.1    Read and discuss with appropriate persons relevant documents and reports that could impact on work effectiveness and compliance

4.2    Analyse, evaluate and check documents, reports, data and numerical calculations to meet customer and organisational requirements

4.3          Present information in format appropriate for audience.


5. Participate in and facilitate work team activities

Performance Criteria:

5.1    Provide feedback to team members to encourage, value and reward individual and team efforts, and contributions

5.2    Actively encourage team members to participate in and take responsibility for team activities and communication processes

5.3    Support team to identify and resolve problems which impede its performance

5.4          Ensure own work serves as role model for others and enhances organisation's image and financial services industry.


6. Plan work to be completed

Performance Criteria:

6.1    Determine tasks to be done and identify relevant conditions to work autonomously or in team environment

6.2    Plan work to manage resources, time and priorities

6.3    Contribute to organisational planning process as required to achieve service improvement

6.4          Adapt to changes in technology and work organisation in timely manner.


7. Develop and maintain personal competency

Performance Criteria:

7.1    Identify and review personal professional development needs and goals on regular basis

7.2    Clarify and comply with competency, authorisation and licensing requirements

7.3          Seek professional development opportunities that reflect needs and goals in agreed timeframe.

Learning Outcomes

Details of Learning Activities

This course is conducted online. All learning materials, including topic slides, tutorial exercises, articles and videos are available on Blackboard. Consultation and advice is available from the course coordinator, Arie Herrnstadt, contact details 03 9925 5897, 

Teaching Schedule

Suggested schedule for Semester 1

Weeks 1-8 during Term 1

Weeks 9-16 during Term 2 of Semester 1

Week CommencingTopicsAssessment
 1/9 6 Feb / 3 Apr Topic 1 Main sectors, regulators, responsibilities 
 2/10 13 Feb / 10 Apr Topic 2 Develop and maintain personal competency 
  Mid semester Term 1/2 break
Thurs 13 Apr-Wed 19 April 
 3/11 20 Feb / 24 Apr Topic 3 Managing information 
 4/12 27 Feb / 1 May Topic 4 Industry legislation and regulation Task 1 due 5 May, feedback by 19 May
 5/13 6 Mar / 8 May Topic 5 Ethics, Codes of conduct, minimum and best practice standards 
 6/14 13 Mar / 15 May Topic 6 Sustainability 
 7/15 20 Mar / 22 May Topic 7 Working in teams 
 8/16 27 Mar / 29 May Presentation and winding up 

Task 2 due 2 June, feedback by 16 June

Learning Resources

Prescribed Texts


Other Resources

Overview of Assessment

In order to achieve competency in this unit, you must provide:

Performance Evidence

Evidence of the ability to:

◾access, interpret and analyse product and service information provided by industry sectors in an effective and timely manner
◾interpret and comply with relevant financial services legislation, regulations and industry codes of practice, and ethics applicable to the workplace
◾recognise and implement sustainability principles and work practices
◾accurately analyse, evaluate and organise relevant information
◾effectively plan work and maintain a team environment, taking into account any constraints and available resources
◾identify and evaluate appropriate professional development opportunities.

Knowledge Evidence

To complete the unit requirements safely and effectively, you must:
◾discuss environmental or sustainability legislation, regulations and codes of practice applicable to industry and organisations
◾outline the main sectors in the financial services industry and the interrelationships between the sectors
◾explain industry and organisational policy and procedures and ethical behaviours in regard to customer service and administration
◾outline industry and organisational security practices and rationale
◾identify internal administration systems such as accounting systems and databases
◾explain principles, practices and available tools and techniques of sustainability management relevant to the industry context
◾explain key requirements of relevant legislation, statutory requirements and industry codes of practice as they relate to:
◾consumer credit
◾financial transaction reporting
◾corporations (including accounting standards)
◾financial services
◾identify the economic and political climate relating to the financial services industry
◾explain triple bottom line principles used in work planning.

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the industry capability field and include access to:
◾organisational policy, procedures, legislation, regulations and codes of practice
◾specialist financial services software and data
◾common office equipment, technology, software and consumables.

You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met.


Feedback will be provided throughout the semester in class and/or online discussions. You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed.

You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.

Assessment Tasks

Assessment Tasks


Students are required to complete two tasks.  They must successfully complete both tasks to be deemed competent in this unit. When these are satisfactorily completed they will receive a CAG result.


If either or both assignments are assessed as not yet meeting competency standards they will have one more opportunity to resubmit their assignment, either within 14 days or by a time agreed with their teacher.


Assessment Task 1 (due COB Week 5 or 12)


Individual assignment covering Elements 1, 2, 4, 6 and 7. This is a report enabling students to demonstrate their knowledge and understanding of various facets of the financial services industry, and to demonstrate a plan of post-program professional development.


Assessment task 2 (due COB Week 8 or 16)


Group assignment covering Elements 3, 4, 5 and 6.


This report will require students to investigate the sustainability practices of a company or organisation of their choice, and determine the net benefits of its sustainability program to the organisation and the community.


Assessment Matrix

Course Overview: Access Course Overview