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

Part B: Course Detail

Teaching Period: Term1 2007

Course Code: SOSK5138C

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

School: 650T TAFE Business

Campus: City Campus

Program: C4170 - Certificate IV in Financial Services

Course Contact : Michelle Mosiere

Course Contact Phone: +61 3 9925 5455

Course Contact Email:michelle.mosiere@rmit.edu.au


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

Training Package Pre-requisites: Nil
RMIT Co-requisites: FNSICGEN304A Apply health and safety practices in the workplace [OHTH5089C]

Course Description

This unit covers the fundamental principles that underpin professional practice. It examines the legal framework and its industry applications; company procedures, guidelines, policies and standards. The content is contextualised within the financial services industry.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSICIND401A Apply principles of professional practice to work in the financial services industry

Element:

Develop and maintain personal competency

Performance Criteria:

• Professional development needs and goals are identified and reviewed on a regular basis
• Competency, authorisation and licensing requirements are clarified
• Professional development opportunities that reflect needs and goals are sought and completed in an agreed upon timeframe

Element:

Identify and apply financial services industry guidelines, procedures and legislation

Performance Criteria:

• Information on relevant legislation, regulations and codes of practice is collected and analysed and the application to the role in the workplace determined
• Work practice is clarified and refined in light of relevant legislation, regulations and codes of practice
• Relevant codes of practice are used to guide an ethical approach to workplace practice and decisions

Element:

Identify the scope, sectors and responsibilities of the industry

Performance Criteria:

• External forces impacting on the financial services industry are identified and considered in carrying out activities
• The main sectors of the financial services industry and the inter-relationship between sectors are identified and considered in carrying out activities
• The roles and responsibilities of the participants in the financial services industry are identified and considered in carrying out activities

Element:

Manage information

Performance Criteria:

• Relevant documents and reports are read, understood and any implications discussed with relevant persons
• Documents, reports, data and numerical calculations are analysed, checked, evaluated and organised to meet the customer’s and/or the organisation’s requirements
• Information is presented in a format appropriate for the audience

Element:

Plan work to be completed taking into consideration time, resources and other constraints

Performance Criteria:

• Tasks to be done and relevant conditions are determined
• Work is planned either working alone or with others
• Work is planned for a given period managing resources, time and priorities
• Contributions are made to organisation’s planning process
• Changes in technology and work organisation are adapted to


Learning Outcomes


Refer to performance elements and performance criteria


Details of Learning Activities

Case studies are used throughout the course and students are expected to participate in class discussions and exercises. The use of ‘real world’ examples will assist students throughout the course.
Learner activity: Students will take an active role
• Reflecting and discussing key concepts
• Applying legal concepts to case studies
• Summarizing key points
• Participating in problem solving scenarios
• Responding to generic question sessions
The use of “real world” examples will facilitate the understanding of the theoretical concepts and students will be encouraged to use lateral thinking.

Competency Based Assessment
Students will be provided with more than one opportunity to demonstrate competence. Competency based assessment is detailed below in “Assessment Methods” and “Assessment Tasks”.


Teaching Schedule

Week beginning2007
Week 1 – 12th FebTopic 1: Industry Overview
1A: Main Sectors
Week 2 – 19th Feb1B: Products & Services
Week 3 – 26th Feb1C: Regulators
Week 4 – 5th MarGuest Speaker
Week 5 – 12th MarTopic 2: Compliance
2A: Financial Services Reform Act
Week 6 – 19th Mar2B: ASIC Policy Statements
Week 7 – 26th Mar2C: Uniform Consumer Credit Code
Week 8 – 2nd AprilAssessment – Multi-Issue Case Study, Topics 1 & 2
 Mid Semester Break (Student Vacation) – 5th to 11th April
Week 8 – 12th AprilAssessment – Multi-Issue Case Study, Topics 1 & 2
Week 9 – 16th AprilTopic 3: Confidentiality
3A: Privacy under the common law
Week 10 – 23rd April3B: Privacy under statute law
Week 11 – 30th April3C: Code of Banking Practice
Week 12 – 8th MayTopic 4: Professionalism
4A: Conflict Resolution
Week 13 – 14th May4B: Ethics
Week 14 – 21st MayAssessment – Multi-Issue Case Study, Topics 3 & 4
Week 15 – 28th MayTopic 5: Health & Safety
5A: Legal Framework
Week 16 – 4th June5B: Ergonomics & Office Safety
Week 17 – 11th June5C: Human Behaviour & Attitudes
Week 18 – 18th JuneAssessment – Workplace Scenario Presentation


Learning Resources

Prescribed Texts


References

Waters, Kay. Working in the Financial Services Industry, Tertiary Press, Croydon (2003).

Nygh, et. al. Concise Australian Legal Dictionary. Butterworths: 1998. ISBN 0 4093 1568 0


Other Resources


Overview of Assessment

Assessment may include group presentations, oral reports, problem-solving activities, case studies, research assignments, open-book tests and/or open-book exams.
Tutorial activities may also include problem solving, researching and responding to case studies. Such activities may be conducted verbally or in writing.
The aim is to provide the opportunity for formative feedback so that students may determine how well they are progressing in the course.


Assessment Tasks

Assessment:
Case Study 1
Method 
Written assessment, individual
Topic 1
Topic 2
Marks Awarded -
Topic 1 =25
Topic 2 = 25


Assessment:
Case Study 1
Method
Written assessment, individual
Topic 3
Topic 4
Marks Awarded
Topic 3=25
Topic 4 = 25

Total - 100


Assessment Matrix

 
Case Study 1
Case Study 2Workplace ScenarioTutorial Questions
FNSICIND401A/01
Identify the scope, sectors and responsibilities of the industry
Y  Y
FNSICIND401A/02 Identify and apply financial services industry guidelines, procedures and legislation YYYY
FNSICIND401A/03 Manage information YYYY
FNSICIND401A/04 Plan work to be completed taking into consideration time, resources and other constraints YYYY
FNSICIND401A/05 Develop and maintain personal competency  YY

Other Information

Assessment criteria:

Topic 1: Industry Overview · Identify the external forces impacting on the financial services industry· List the main sectors of the financial services industry and explain the inter-relationship between sectors· Identify the roles and responsibilities of the participants in the financial services industry· Identify the main regulators

Topic 2: Compliance · Explain licensing and disclosure requirements· Discuss the role of the Financial Services Reform Act in regulatory reform· Identify key ASIC Policy Statements· List key objectives of the Uniform Consumer Credit Code

Topic 3: Confidentiality · Identify the sources of law· Define “privacy”· Explain the concepts of hard law and soft law· List remedies for breaches· Discuss internal and external dispute resolution

Topic 4: Professionalism · Define ethics· Discuss the role of ethics in business interactions· Apply ethical approaches to decision making· Resolve conflicts using ethical standards

Topic 5: Health and Safety · Outline the main features of occupational health and safety (OHS) legislation· Identify the main OHS obligations of employers, occupiers, manufacturers, importers, employees and other workplace participants· List the main areas of risk management · Explain the main powers of inspectors· Outline the main features of workers compensation schemes· Define key concepts such as “designated work groups” “OHS representatives” and explain their roles· Outline standard OHS and emergency procedures

Course Overview: Access Course Overview