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

Part B: Course Detail

Teaching Period: Term2 2014

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: C4342 - Certificate IV in Banking Services

Course Contact : Doug Gourlay

Course Contact Phone: +61 3 9925-5944

Course Contact

Name and Contact Details of All Other Relevant Staff

Arie Herrnstadt

9925 5897

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 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. 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


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. 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


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. 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


6. 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


7. 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

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.

Teaching Schedule


17 JulyFamiliarisation 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
214 July- Types of Financial Markets
- Products and Instruments
Task 1 – Assignment – Due
You will receive the feedback in week 3. If required, resubmission for this assessment is due by the end of week 4.
321 JulyDefinition of money; Measuring Money Supply and its importance 
428 JulyMoney and economic activity; The Quantity Theory of Exchange and the Credit Creation Process 
54 AugThe Role and function of the Reserve Bank of Australia 
611 AugThe conduct of monetary policy 
718 AugIntro to Prudential Supervision:
- The role and Function of APRA
- Liquidity and Capital Adequacy
825 AugReview of weeks 1 to 7 
98 SeptAssessment: Class testTask 2  -In Class Assessment Task - You will receive the feedback in week 11. If required, resubmission for this assessment is scheduled for week 16.
1015 SeptKey features of the Financial Services Reform Act and the Impact on Financial Markets 
1122 SeptMarkets; Key features of ASIC’s regulatory guides and the impact on Financial Markets 
1229 SeptKey features of the Uniform Consumer Credit code; recent credit and credit card reforms. Banking code of Conduct; recent reforms to Australian banking 
136 OctKey features of the Privacy Act and the Impact on Financial Markets 
1413 OctJob application: role of CV, cover letter and job application 
1520 OctIndividual Assignment dueTask 3 Due Assignment - Due  . If required, resubmission for this assessment is due by COB Wednesday 13th November.
1627 OctFeedback 

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 but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

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

Reserve Bank of Australia home page,

Australian Prudential Regulation Authority home page,

Australian Securities Investment Commission home page,

Other Resources

Other materials will be placed on the Blackboard and will be used when directed so by your teacher.

Overview of Assessment

Assessment may incorporate a variety of methods including technical requirements documentation, homework, assignments, group and/or individual projects, in class exercises, written and practical tests, problem solving exercises, presentations, direct observation of actual and simulated work practice, presentation of a portfolio of evidence which may comprise documents, and/or photographs and/or video and audio files, review of products produced through work-based or course activities.

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.  You will be provided with feedback throughout the course to check your progress.

Assessment Tasks

Co-Delivered Courses

This course is co-delivered with ACCT5324C Facilitate customer awareness of the Australian Financial System

Critical aspects of assessment

Evidence of the ability to:

  • access, interpret and analyse product and service information provided by industry sectors
  • interpret and comply with relevant legislation, regulations and industry codes of practice and ethics applicable to the workplace
  • recognise and implement sustainability principles and work practices
  • analyse, evaluate and organise relevant information
  • plan work and maintain a team environment taking into account any constraints and available resources
  • identify and evaluate professional development opportunities. Assessment Tasks

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

TASK 1  - Assignment  (Due Date: End of week 2)

For this assessment task you will be undertaking an assignment consisting of 12 True/False questions and five short answer question covering the purpose of financial markets and the major markets within the Australian financial markets.

To be deemed competent in this assessment you must be able to cover and show an understanding of Elements 1

TASK 2 - In Class Assessment Task (Due Date: End of week  9)

For this assessment task you will you will undertake an in class assessment  in week nine - during normal class time for the duration of one and half hours

The task incorporates six questions comprised of short answer style questions and case studies.

To be deemed competent in this assessment you must be able to cover and show an understanding of Elements 1 to 4

TASK 3 - Assignment (Due Date: End of week 15)

For this assessment task you will be undertaking an assignment that incorporates group and individual components.

The group component comprises three hypothetical or case study questions requiring research into the financial system, its regulation and sustainability issues.

The individual component requires students to submit a professionally presented job application incorporating both a cover letter and resume that answers specific requirements of financial services employers. 

To be deemed competent in this assessment you must be able to cover and show an understanding of all the elements in Apply Principles of Professional Practice.

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, Julie Macpherson, 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.
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.
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:
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