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

Part B: Course Detail

Teaching Period: Term1 2015

Course Code: EMPL5892C

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

School: 650T Vocational Business Education

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
Phone:  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.


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.


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.


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.


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.

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


19 February

Introduction to the Course including:
• Course requirements
• Course support documents Course Blackboard access
• Accuracy of enrolment
• Assessment requirements/cover sheets including RPF & credit
• Reminder re Plagiarism
• Reminder re Appeals
• Extensions and Resubmissions
• Feedback in the course
• Reminder re re submission requirements
• Getting help

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

Introduction to the financial services industry

216 FebruaryFinancial services industry legislation and regulators.
323 FebruaryFinancial services industry legislation and regulatorsTask 1 Research assignment due
42 MarchEthics, codes of practice, minimum and best practice standards 
510 MarchWorking in teams 
616 MarchManaging information 
723 MarchSustainability: principles 
8a30 MarchSustainability: legislation and practices 
8b9-10 AprilUnsupervised self study 
913 AprilGroup presentationTask 2  Assignment due
1020 AprilPersonal competency: Job applications 
1127 AprilPersonal competency: Job applications 
124 MayPersonal competency: professional development 
1311 MayInterview preparation 
1418 MayIndividual interviews Task 3 Job application and Interview due
1525 MayIndividual interviews 
161 JuneResubmissions if necessary 

The above schedule is a general guide only and may be changed if deemed necessary by your teacher. 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.

Induction Session
Prior to training commencement a program level induction session will be conducted that comprises the following:
• Program overview and requirements
• MyRMIT/Blackboard
• Overview of assessment requirements
• Pre-training Review including: Recognition of Prior Learning and Credit Transfers and Assessment of current skills and knowledge
• Competency/grading criteria
• Plagiarism
• Appeals
• Extentions
• Feedback
• Privacy
• Submission Requirements
• Resubmission policy
• Where to get support
• Student responsibilities

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

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 three tasks. You must successfully complete all three tasks to be deemed competent in this unit.

TASK 1 - Research Assignment (Due: end of week 3)

You are required to undertake an individual reseach assessment on an investigation undertaken by ASIC in relation to the following:

a) One or more "scams" listed on the ASIC website
b) A case of Identity theft or other Data security violation
c) Any other relevant Financial sector market misconduct investigation or prosecution In all the above topics students should endeavour to explain the following:
d) The facts of the case
e) How the "scam" worked
f) The relevant codes of practice and laws breached
g) The outcome of the case, including the consequences for any parties/stakeholders

TASK 2 - Assignment Task (Due: end of week 9)

For this assessment task you are required to research organisational websites that publish Sustainability (TBL) reports either as part of their Financial Report or as a stand alone report and write a presentation on the concept off Sustainability (TBL).


TASK 3 – Job application and Interview (Due: end of weeks 14 and 15)

For this assessment task you are required to undertake job related tasks: write a cover letter, a resume and a plan for further professional development addressing the specific job requirements specified by the employer.

The written job application will be followed up with a brief mock job interview.

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