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

Part B: Course Detail

Teaching Period: Term1 2008

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

Name and Contact Details of All Other Relevant Staff

Vicki Mesiti

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


Develop and maintain personal competency

Performance Criteria:

<!--[if !supportLists]-->&middot;          <!--[endif]-->Professional development needs and goals are identified and reviewed on a regular basis<o:p></o:p>

<!--[if !supportLists]-->&middot;          <!--[endif]-->Competency, authorisation and licensing requirements are clarified

       Professional development opportunities that reflect needs and goals are sought and completed in an agreed upon timeframe


Identify and apply financial services industry guidelines, procedures and legislation

Performance Criteria:

<!--[if !supportLists]-->&middot;          <!--[endif]-->Information on relevant legislation, regulations and codes of practice is collected an analysed and the application to the role in the workplace determined<o:p></o:p>

<!--[if !supportLists]-->&middot;          <!--[endif]-->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


Identify the scope, sectors and responsibilities of the industry

Performance Criteria:

<!--[if !supportLists]-->&middot;          <!--[endif]-->External forces impacting on the financial services industry are identified and considered in carrying out activities<o:p></o:p>

<!--[if !supportLists]-->&middot;          <!--[endif]-->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


Manage information

Performance Criteria:

<!--[if !supportLists]-->&middot;          <!--[endif]-->Relevant documents and reports are read, understood and any implications discussed with relevant persons<o:p></o:p>

<!--[if !supportLists]-->&middot;          <!--[endif]-->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


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

Performance Criteria:

<!--[if !supportLists]-->&middot;          <!--[endif]-->Tasks to be done and relevant conditions are determined<o:p></o:p>

<!--[if !supportLists]-->&middot;          <!--[endif]-->Work is planned either working alone or with others<o:p></o:p>

<!--[if !supportLists]-->&middot;          <!--[endif]-->Work is planned either working alone or with others<o:p></o:p>

<!--[if !supportLists]-->&middot;          <!--[endif]-->Work is planned for a given period managing resources, time and priorities<o:p></o:p>

<!--[if !supportLists]-->&middot;          <!--[endif]-->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

In order to achieve learning outcomes, students will participate in the following activities:

  • <!--[if !supportLists]--> <!--[endif]-->Attend and prepare notes during scheduled classes
  • <!--[endif]-->Participate in class discussions
  • <!--[endif]-->Research using internet and/or recommended references
  • <!--[endif]-->Access materials online
  • <!--[endif]-->Prepare out of class answers to class exercises involving theory based tasks, problem solving tasks, case studies/simulations or multiple choice questions
  • Complete required assessment tasks.

Teaching Schedule

Week beginningTopics & Assessment Tasks
Week 1 – 11th FebruaryTopic 1: Industry Overview
1A: Main Sectors
Week 2 – 18th February1B: Regulators
Week 3 – 25th February1C: Career Paths in Financial Services
Week 4 – 3rd March1D: Career Paths in Financial Services - Research
Week 5 – 10th March
Topic 2 Compliance
2A: Financial Services Reform Act
2B: ASIC Policy Statements
Week 6 – 17th March2C: Uniform Consumer Credit Code
 Easter Break (March 20th to 26th)
Week 7 – 31st MarchAssessment Preparation
Week 8 – 7th AprilAssesment 1 - Group Presentation
Week 9 – 14th AprilTopic 3: Confidentiality
3A: Privacy under the common law
Week 10 – 21st April3B: Privacy under Statute & Voluntary Codes of Practice
Week 11 – 28th AprilTopic 4: Professionalism
4A: Conflict Resolution
Week 12 – 5th May4B: Ethics
Week 13 – 12th MayAssessment 2 - Case Study
Week 14 – 19th MayTopic 5: Health & Safety
5A: Legal Framework
Week 15 – 26th May5B: Ergonomics & Office Safety
Assessments 3 & 4 - Risk Assessment Form
Accident/Incident Report
Week 16 – 2nd June5C: Human Behaviour & Attitudes
Week 17 – 9th JuneAssessment 5 – Workplace Scenario
Week 18 - 16th JuneFinal Results

This Weekly Schedule may be subject to change. Students will be advised of the changes.

Learning Resources

Prescribed Texts

RMIT generated materials on DLS.  These same materials are also available on G:\BusTAFE\Law\Apply principles of professional practice


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

Other Resources

Online learning Materials<o:p></o:p>

Online learning materials can be accessed by going to the RMIT website, clicking on Students, under IT Information and Services there is a link to the Online Learning Hub. inand click on SOSK5138C – Apply principles of professional practice.

It is essential to have access to an internet connected computer outside of class times. Internet connected computers are available in the Business Labs on Level 3 of Building 108, 239 Bourke Street, Melbourne.

Useful Websites This website is a useful resource for assessment tasks. The Learning Lab is a learning and study skills site developed by the Learning Skills Unit offering online interactive tutorials, printable handouts and an email learning query service. The site is designed to assist students develop the capabilities for tertiary studies.

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

Important Points
All assessments are graded. To pass the course, students must submit and pass each individual assessment task and achieve competency in all course elements.
Assessments will incorporate a variety of methods including in-class exercises, group presentations and a case study.
Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure that the relevant competency standards are met.
Students will be provided with more than one opportunity to demonstrate competence.

<o:p></o:p>Assessment Task 1<o:p></o:p>
Group Presentation<o:p></o:p>
Week 8<o:p></o:p>
Mark Value 50%

Group assessment. Presentation involves a detailed report on one aspect of the financial services industry and an analysis of the pertinent legal issues.  The assessment task takes place during class time.  <o:p></o:p>This assessment addresses competency elements:

<o:p></o:p>Assessment Task 2 <o:p></o:p>
Case Study<o:p></o:p>
Due Week 13<o:p></o:p>
Mark Value 50%<o:p></o:p>

Students will be provided with a case study for discussion and reflection upon legal and ethical issues.  The test will be held in class.
This assessment addresses competency elements:

Assessment Matrix

Group Presentation
Case Study
Identify the scope, sectors and responsibilities of theindustry
FNSICIND401A/02 Identify and apply financial services industry guidelines, procedures and legislation               Y       Y
FNSICIND401A/03 Manage information               Y       Y
FNSICIND401A/04 Plan work to be completed taking into consideration time, resources and other constraints               Y       Y
FNSICIND401A/05 Develop and maintain personal competency         Y 

Other Information

Teacher Contact
Out of class communication to all students will occur using the RMIT student email. It is essential to check your email prior to attending each class.
Consultation times will be made available to you in the first week of classes.
Consultation times may also be arranged via email.

<o:p></o:p>Self Managed Learning
Students will be required to undertake research and assessment practice outside of regular class times. Exercises are provided to the students to facilitate their learning in a self-paced manner and form part of the overall achievement of the competencies in this course.
Students are reminded that they are expected to spend an equal amount of time outside of class, furthering their understanding of the concepts being taught, as they do in class, to be deemed competent in this course.

<o:p></o:p>Course Evaluation and Feedback
You will receive ongoing feedback on your progress in the course. Feedback on assessment will be given in a timely manner. You will be informed about how to improve your performance in the competency/course and what you need to do to be deemed competent or to gain a pass in the assessment.
Feedback on the course itself is welcome at any time to the class Teacher, Course Coordinator or Program Coordinator. Periodic Course Evaluation Surveys are also conducted.

<o:p></o:p>Employability skills<o:p></o:p>
Are the non-technical skills and competencies that are an important part of effective and successful participation in the workplace.
Their inclusion in the training packages represents the progress of competency based training into a system which aims to develop the full range of transferable skills, attitudes and behaviour required for successful participation in the workplace.
These include:

  • <!--[if !supportLists]--> <!--[endif]-->Communication
  • <!--[endif]-->Teamwork
  • <!--[endif]-->Problem solving
  • <!--[endif]-->Technology
  • <!--[endif]-->Planning and Organising
  • <!--[endif]-->Initiative and Enterprise
  • <!--[endif]-->Self-Management
  • <!--[endif]-->Learning
<h3></h3> <o:p></o:p>

Assessment Cover Sheet<o:p></o:p>

Note, if requested by your teacher,  you must complete a hardcopy of the RMIT coversheet with your assessment submissions: <o:p></o:p>

<o:p> </o:p>

Course Overview: Access Course Overview