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: C5337 - Diploma of Conveyancing

Course Contact: Robert Sheen

Course Contact Phone: +61 3 9925 5759

Course Contact Email:

Name and Contact Details of All Other Relevant Staff

Joanne Mackay

9925 5540

Building 80, Level 5, Room 18

445 Swanston Street Melbourne

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

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 through various technology platforms and may include your contribution to wikis and discussion threads, reflective journals, quizzes and interactive sessions.

The collaborative classroom-based activities will include group discussions, 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
•Overview of assessment requirements
•Pre-Training Review including:◦Recognition of Prior Learning and Credit Transfers
◦Assessment of current skills and knowledge
•Competency/Grading Criteria
•Submission requirements
•Resubmission policy
•Where to get support
•Student responsibilities

Full details of the teaching schedule for this unit may be found in the "Course and Program Guide Summary - Semester 1, 2017" (attached).
Please note that this teaching schedule is subject to change.

Learning Resources

Prescribed Texts


Other Resources

Full details of resources required for this unit may be found in the "Course and Program Guide Summary - Semester 1, 2017" referred to earlier.

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
  • 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

Full details of the assessment(s) for this unit may be found in the "Course and Program Guide Summary - Semester 1, 2017" referred to earlier.

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 (both hard copy and soft copy).
•Use a cover sheet that includes a declaration and statement of authorship when you submit work for assessment at RMIT University. 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 must 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.
•Include a footer (appearing on each page of your assessment) with your name, student number, assessment title, course code, course title and page numbers. For example, Kelly Hervey, 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. For more Information go to:

The application form may be obtained from:

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. For more Information go to:;ID=g43abm17hc9w (unresolved)

The application form may be obtained from:

Resubmissions (VE Programs):

You must satisfactorily complete all assessment tasks in order to achieve competency.

If an assessment task is assessed as not yet satisfactory, you will be allowed one resubmission opportunity only. Your teacher will provide feedback detailing what you need to do in order to satisfactorily complete that task, and will set a new deadline for the resubmission within the current semester.

If your resubmission is deemed to be not yet satisfactory then you must apply in writing to your Program Manager outlining the steps you will take to demonstrate competence in that course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as practical.

If your resubmission is deemed satisfactory then you may still achieve competency for the course, provided that all other assessment tasks are satisfactorily completed. Further, if this satisfactory resubmission is of a task that contributes to the overall grading of this course, then it shall only be entitled to receive a score that equates to 50% of the total marks allocated for that task.

Adjustments to Assessment

In certain circumstances students may be eligible for an assessment adjustment. For more information about the circumstances under which an adjustment to the assessment arrangements might be granted please access the following website:;ID=7usdbki1fjf31

Marking Guide (Competency)

You must demonstrate through your performance in the Course Assessment Tasks that you have all the required skills and knowledge as specified in the unit of competency (course) you are studying.

Your submitted assessments are the evidence used to determine if you have met all critical aspects of the assessments, and if any critical aspects have not been met, then you cannot be deemed competent in this course.

On each assessment task you will receive feedback against the competency requirements for that task, and the outcome of the task will be recorded as either satisfactory (all requirements have been met) or not yet satisfactory (one or more requirements has not yet been met).

Only when all assessment tasks have been assessed as satisfactory will you be deemed competent in this course.

Marking Guide (Grading)

This course is graded. However, only after achieving competency in this course will you receive a grade corresponding to your level of performance in the course.

The reported Final Grade will be one of the following:

CHD Competent with High Distinction

CDI Competent with Distinction

CC Competent with Credit

CAG Competency Achieved – Graded

NYC Not Yet Competent (all assessment tasks submitted)

DNS Did Not Submit (one or more assessment tasks not submitted)

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

Course Overview: Access Course Overview