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

Part B: Course Detail

Teaching Period: Term2 2016

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: C4366 - Certificate IV in Accounting

Course Contact: Ben Sethia

Course Contact Phone: +61 3 9925 5982

Course Contact Email:

Name and Contact Details of All Other Relevant Staff

Arie Hernstadt


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

This unit covers skills required to work in senior roles in the financial services industry and underpins other specialist units used in all sectors of the industry.

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

A range of learning activities are planned for this course including self-paced and collaborative classroom based activities.

The self-paced activities will be delivered thought various technology platforms and include your contribution to wikis and discussion threads, reflective journals, quizzes and interactive sessions.

The collaborative classroom based activities will include group discussion, group problem solving activities and opportunities to practice your skills in a simulated/real workplace environment.
We expect you to participate and contribute in all scheduled learning activities.

Teaching Schedule

Induction Session

Prior to training commencement a program level induction session will be conducted that comprises the following:

  • Program overview and requirements
  • MyRMIT/Blackboard
  • Overview of assessment requirements
  • Pre-Training Review including:
    • Recognition of Prior Learning and Credit Transfers
    • Assessment of current skills and knowledge
  • Competency/Grading Criteria
  • Plagiarism
  • Appeals
  • Extensions
  • Feedback
  • Privacy
  • Submission requirements
  • Resubmission policy
  • Where to get support
  • Student responsibilities 

 The Teaching Schedule for this course is as follows but please note that it is subject to change.

     Week Week CommencingTopics                                                             Assessment   
 1 04/07/16 Read course guide and weekly program and assessment guide

Access Blackboard site for program and access Course information folders to gain an understanding of the content

Topic 1: Introduction to Financial Markets and Institutions and Responsibilities of the Industry

Topic 2 Financial services Industry Codes of Practice

 2 11/07/16  
 3 18/07/16 

Topic 3 Sustainability

Assessment Task 1 due week 4

 4 25/07/16  Assessment 1
 5 01/08/16 Topic 4 Participate in and facilitate work team activities 
 6 08/08/16  
 7 15/08/16 Topic 5 Work team activities 
  Mid semester break 
 905/09/16 Topic 6 Plan work in teams
Assessment task 2 due by the end of week 11 .
 1119/09/16 Topic 7 Professional Development Careers workshop sessions using RMIT website material and RMIT staff in Careers and   
              Employment division of RMIT
 Assessment 2
 1303/10/16 Class room preparation for assessment task 3 

Class room preparation for assessment task 3

Assessment task 3due by May 27

 Assessment 3
 1624/10/16 Resubmissions  



The nominal hours associated with this are a guide only and represent the total teaching time and student effort required to successfully complete the course. This may include not only scheduled classes bit also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

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
    • privacy
    • 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. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.

You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course.

Assessment Tasks


  All three (3) competency based assessments for this course must be successfully completed to achieve CAG.  Once Competency has been established a grade  is applied.  This grade will only be applied if  a CAG has been achieved in all compulsory assessment tasks.  For this Assessment task you are required to work individually.  



Task 1 Due date Week 4 2016


  1. Form groups of 3 people.(Maximum)


  1. The report is one case from each of the of the three Regulatory bodies below: 


a)    An ASIC investigation (See or any other source of your choice)


b)    An ACCC investigation from the website 


c)    A case involving APRA 


For all of the above topics explain the following:


i)             The facts of the case or investigation.


ii)            How the scam/crime/fraud worked (if it was a scam)  or the Investigation being undertaken


iii)           The outcome of the case, or investigation (if decided) including the consequences for any parties/stakeholders.  

Task 2:    Due date:  w/e Week 11 (Groups of 4 students)
The task for this assessment is to research  websites for organisations that publish Sustainability (TBL) reports either as part of their Financial Report or as a stand alone report.    A presentation is required with the student to demonstrate their understanding of the concept of Sustainability (TBL)

Task 3:    Due date: week 15 This assessment contains multiple tasks focusing on job selection writing a cover letter, resume and a plan for further professional development addressing the specific job requirements specified by the employer. It is an individual assessment task.


The assessments for this course have been designed to allow participants  apply their learning to particular simulated work scenarios and demonstrate their competence in a variety of ways. 

You must successfully complete all assessment tasks to achieve competency.

Assessment Matrix

Other Information

Submission Requirements

You should:

• Ensure that you submit assessments on or before the due date.
• Always retain a copy of your assessment tasks. (hard copy and soft copy)
• When you submit work for assessment at RMIT University you need to use a cover sheet that includes a declaration and statement of authorship. You must complete, sign and submit a cover sheet with all work you submit for assessment, whether individual or group work. On the cover sheet you declare that the work you are presenting for assessment is your own work. An assignment cover sheet for submission of each assessment task is available on blackboard.
• Each page of your assessment should include footer with your name, student number, the title of the assessment, unit code and title and page numbers. For example, Callie Harvey, 324567, Task 2, OHS2345C Ensure safe workplace, Page 1 of 10.

Late Submission Procedures

You are required to submit assessment items and/or ensure performance based assessment is completed by the due dates.

If you are prevented from submitting an assessment item on time, by circumstances outside your control, you may apply in advance to your teacher for an extension to the due date of up to seven calendar days. <check links are still current>

More Information:

Form to use:

Where an extension of greater than seven days is needed, you must apply for special consideration. Applications for special consideration must be submitted no later than two working days after the assessment task deadline or scheduled examination. <check links are still current>

More Information:;ID=g43abm17hc9w

Form to use:

Resubmissions (VET Programs):

If you are found to be unsuccessful in a Course Assessment Task you will be allowed one resubmission only. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission. The highest grade you will receive if your resubmission is successful is “CAG”.

If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.

Adjustments to Assessment

In certain circumstances students may be eligible for an assessment adjustment. For more information about the circumstances under which the assessment arrangements might be granted please access the following website: <check link is still current>
More Information:;ID=7usdbki1fjf31

Marking Guide (Competency):

You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.

You will receive feedback on each assessment task that will inform you about your progress and how well you are performing.

Marking Guide (Grading)

After achieving competency we then grade your performance in the unit and you will achieve one of the following grades:

Final Grades table:

CHD Competent with High Distinction
CDI Competent with Distinction
CC Competent with Credit
CAG Competency Achieved – Graded
NYC Not Yet Competent
DNS Did Not Submit for assessment

Further information regarding the application of the grading criteria will be provided by your teacher.

Course Overview: Access Course Overview