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

Part B: Course Detail

Teaching Period: Term1 2012

Course Code: EMPL5892C

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

School: 650T TAFE Business

Campus: City Campus

Program: C4297 - Certificate IV in Banking Services

Course Contact : Michael Elliot

Course Contact Phone: +61 3 9925 5519

Course Contact

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

There are no prerequisites for this course but you will complete the co-requisite FNSFLT502A - Facilitate customer awareness of the Australian financial system and markets

Course Description

This course 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. 

It has application to a variety of financial services sectors and is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements so the varying Commonwealth, State or Territory requirements should be confirmed with the relevant body.

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSINC401A Apply principles of professional practice to work in the financial services industry


1. Develop and maintain personal competency

Performance Criteria:

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


2. Identify and apply financial services industry guidelines, procedures and legislation

Performance Criteria:

2.1. Information on relevant legislation, regulations and codes of practice is collected, analysed and effectively applied to the job role
2.2. Own work practice is clarified and regularly refined in light of relevant legislation, regulations and codes of practice and organisation policies, guidelines and procedures
2.3. Relevant codes of practice are used to guide an ethical approach to workplace practice and decisions


3. Identify sustainability issues for the financial services industry

Performance Criteria:

3.1. Information on sustainability policies, strategies and impacts on industry is obtained and from a range of sources and analysed
3.2. Environmental sustainability is identified as an integral part of business planning and promoted as a business opportunity
3.3. Work planning incorporates and supports triple bottom line principles


4. Identify the scope, sectors and responsibilities of the industry

Performance Criteria:

1.1. External forces impacting on the financial services industry are identified and considered in carrying out activities
1.2. The main sectors of the financial services industry and the interrelationship between sectors are identified and considered in carrying out activities
1.3. The roles and responsibilities of other participants in the financial services industry are identified and considered in carrying out activities


5. Manage information

Performance Criteria:

4.1. Relevant documents and reports that could impact on work effectiveness and compliance are read and understood, and any implications discussed with appropriate persons
4.2. Documents, reports, data and numerical calculations are analysed, checked, evaluated and organised to meet customer and organisation requirements
4.3. Information is presented in a format appropriate for the audience


6. 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. Give the team support to identify and resolve problems which impede its performance
5.4. Ensure own contribution to work team serves as a role model for others and enhances the organisation's image within the work group the organisation and with clients/customers


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

Performance Criteria:

6.1. Tasks to be done and relevant conditions are determined and work planned either for working autonomously or with others in a team environment
6.2. Work is planned for a given period managing resources, time and priorities
6.3. Contributions are made to organisation planning process as required to achieve service improvement
6.4. Changes in technology and work organisation are adapted to in a timely manner

Learning Outcomes

Details of Learning Activities

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 via Blackboard and require access to and use of a variety of course material on hazard identification and assessment.

The collaborative classroom based activities will include discussion on your experiences in hazard identification in your workplace and the experiences of others in the group. Examples of the practical applications within industry will also be discussed.

You are expected to participate and contribute in all scheduled learning activities including completion of tutorial exercises consisting of practical problems, short answer questions and case studies.

Teaching Schedule

WeeksTopics Assessments
1Familiarisation with Course, Blackboard, Course requirements; Overview of assessment requirements
Where to get support, Student responsibilities.

Introduction to the Australian Financial System:
- Structure and role of the Financial System
- Main Participants in the Financial System
2- Types of Financial Markets
- Products and Instruments
Task 1 – Introductory assessment task – Due.
You will receive the feedback in week 3. If required, resubmission for this assessment is due by the end of week 4.
3Definition of money; Measuring Money Supply and its importance  
4Money and economic activity; The Quantity Theory of Exchange and the Credit Creation Process  
5The Role and function of the Reserve Bank of Australia  
6The conduct of monetary policy  
7Intro to Prudential Supervision:
- The role and Function of APRA
- Liquidity and Capital Adequacy
8Review of weeks 1 to 7  
9Assessment: Class test Task 2 - You will receive the feedback in week 11. If required, resubmission for this assessment is scheduled for week 16.
10Key features of the Financial Services Reform Act and the Impact on Financial Markets  
11Markets; Key features of ASIC’s regulatory guides and the impact on Financial Markets  
12Key features of the Uniform Consumer Credit code; recent credit and credit card reforms. Banking code of Conduct; recent reforms to Australian banking  
13Key features of the Privacy Act and the Impact on Financial Markets  
14Job application: role of CV, cover letter and job application  
15Individual Assignment  
16Individual assignment due Task 3 Due - You will receive the feedback by end of week 17. If required, resubmission for this assessment is due by Friday 15th June.

Learning Resources

Prescribed Texts


RMIT University, Tier 1 Compliance Program notes (available for download from Learning Hub)

Fraser, I et al (2011) Economics for Business, McGraw Hill

Hunt, B. and Terry, C. (2008) Financial institutions & markets, 5th ed, Thomson, Melbourne

Layton, Robinson and Tucker, Economics for today, Thomson, Melbourne

Other Resources

Learning Resources
All relevant learning resources will be placed on the online learning hub ( Students will need to access this site on a weekly basis, print off materials, and bring them to class.

Overview of Assessment

Assessment may incorporate a variety of methods including written tests, a group assignment and final assessment.

Tests are closed book and consist of multiple choice, practical exercises and short answer questions.

The group assignment requires students to research the role and function of a financial institution or a major contemporary issue relating to the financial system and of concern to consumers.

The final assessment may be included in the group assessment or in some cases may be an individual assignment.

Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure the relevant competency standards are being met. Students will be provided with feedback throughout the course to check their progress.

Assessment Tasks

Critical aspects of assessment
Evidence of the ability to:
• develop customer awareness of the features and roles of the participants within the Australian financial system and markets
• translate complex information into plain language that may be understood by a variety of people with minimal financial market knowledge.

Assessment Tasks
You are required to complete 3 tasks. You must successfully complete all 2 tasks to be deemed competent in this unit.

TASK 1 (Due Date: End of week 2)
An assessment task consisting of a short answer question covering the purpose of financial markets and the major markets within the Australian financial markets.

TASK 2 (Schedules in Week 9)
Class Test. A 1 hour 30 minutes closed book test covering elements 1 to 4. It will consist of short answer and case-study questions.

TASK 3 (Due end of week 16)
Individual Assignment: An individual assignment requiring students to conduct research into the financial system and the regulation of the financial system.

Assessment Matrix

Other Information

Overview of Assessment
Students must demonstrate an understanding of all elements of competency to be deemed competent. A range of assessment methods are used to assess practical skills and knowledge and the performance criteria of the unit.

Marking Guide (Grading)
After achieving competency we then grade your performance in the unit; this gives you the opportunity to have the level of your performance formally recognized against industry standards and employability skills.  
The grading is according to the following criteria:


We are looking for a high level of ability to complete all tasks independently as per the specifications as well as demonstrating a high level of initiative in developing an understanding of the required knowledge of the role of financial institutions and markets in Australia and communicating this in the required assessment tasks.

You are required to demonstrate depth of understanding of the key concepts and knowledge of the role of Australian financial institutions and markets and to communicate this in answers to case-study and short answer questions in the class test and by means of a report in the assignment.

This requires the appropriate use of technology to undertake basic research to complete the assignment and to communicate role of financial institutions and markets to customers.

You are required to plan and manage your time in order to complete assessment tasks. This will require you to revise the required knowledge of the unit for the class test and to plan and manage your time to complete the assignment.

You are required to contribute to class discussions and demonstrate a very good understanding of the role of financial institutions and markets. Additionally, you are required to communicate this knowledge to customers in clear and concise language.

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

Course Overview: Access Course Overview