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

Part B: Course Detail

Teaching Period: VE 2016

Course Code: EMPL7068C

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

School: 650T Vocational Business Education

Campus: City Campus

Program: C4362 - Certificate IV in Bookkeeping

Course Contact : Ben Sethia

Course Contact Phone: +61 3 9925 1374

Course Contact

Name and Contact Details of All Other Relevant Staff

Course Coordinator

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 skills and knowledge required to identify industry professional approaches to procedures, guidelines, policies and standards, including ethical requirements, and to model and meet expectations of these in all aspects of work.

It applies to individuals who work in senior roles in the financial services industry and underpins other specialist units used in all sectors of the industry.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSINC401 Apply principles of professional practice to work in the financial services industry


4. Manage information

Performance Criteria:

4.1 Read and discuss with appropriate persons relevant documents and reports that could impact on work effectiveness and compliance
4.2 Analyse, evaluate and check documents, reports, data and numerical calculations to meet customer and organisational requirements
4.3 Present information in format appropriate for audience.


7. Develop and maintain personal competency

Performance Criteria:

7.1 Identify and review personal professional development needs and goals on regular basis
7.2 Clarify and comply with competency, authorisation and licensing requirements
7.3 Seek professional development opportunities that reflect needs and goals in agreed timeframe.


2. Identify and apply guidelines, procedures and legislation

Performance Criteria:

2.1 Collect, apply and analyse information on relevant legislation, regulations and codes of practice as applied to financial services industry
2.2 Clarify own work practice and regularly refine in light of relevant legislation, regulations and codes of practice, and organisational policy, guidelines and procedures
2.3 Apply relevant codes of practice in an ethical approach to workplace practice and decisions.


3. Identify sustainability issues

Performance Criteria:

3.1 Obtain and analyse information on sustainability policies, strategies and impacts on industry from a range of sources
3.2 Identify and promote environmental sustainability as an integral part of business planning and business opportunity
3.3 Incorporate and support triple bottom line principles in work planning.


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 Support team to identify and resolve problems which impede its performance
5.4 Ensure own work serves as role model for others and enhances organisation's image and financial services industry.


6. Plan work to be completed

Performance Criteria:

6.1 Determine tasks to be done and identify relevant conditions to work autonomously or in team environment
6.2 Plan work to manage resources, time and priorities
6.3 Contribute to organisational planning process as required to achieve service improvement
6.4 Adapt to changes in technology and work organisation in timely manner.


1. Identify scope, sectors and responsibilities of industry

Performance Criteria:

1.1 Identify and consider external forces impacting on financial services industry while carrying out activities
1.2 Identify main sectors of financial services industry and interrelationship between sectors in carrying out activities
1.3 Identify roles and responsibilities of other participants in financial services industry in carrying out activities.

Learning Outcomes

Details of Learning Activities

Students will be expected to complete the exercises prescribed for each Element and supplementary exercises provided on-line. Guideline notes covering key concepts for each element of competency are provided on the Blackboard site for student access. 

Examples of the practical applications within industry will also be discussed by using current event newspaper articles which will be provided when appropriate onto the Blackboard site.

Students will take an active role by reflecting upon and discussing key concepts, summarising key points , completing work sheets, solving case studies, undertaking research, and working co -operatively in a group environment. 

Teaching Schedule

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.

The Teaching guide below applies to FlexEd students. 

The program is to be delivered across 8 consecutive weeks of the semester

1February 9 


2Feb 16 


3Feb 23 


4Mar 2 


5Mar 9 


6Mar 16 


7Mar 23 


8aMar 30 


 2-8 AprilTerm 1/Easter Break


913 AprilTopic 1 Main sectors, regulators, responsibilities (Elements 1 & 2) 
1020 AprilTopic 2 Develop and maintain personal competency (Element 7)


1127 AprilTopic 3 Managing information (Elements 4 - 6) 
124 MayTopic 4 Industry legislation and regulation (Element 2)Task 1 due 6 May, feedback by 20 May
1311 MayTopic 5 Ethics, Codes of conduct, minimum and best practice standards (Element 2)


1418 MayTopic 6 Sustainability (Element 3) 
1525 MayTopic 7 Working in teams (Element 5) 


1 JunePresentation and winding upTask 2 due 3 June, feedback by 17 June

Learning Resources

Prescribed Texts

Long, Aitken, Seddon, Torres (2016) Principles of Professional Practice, 7th Ed, Better Teams Publications. Cheapest source of this book is via the website for learnnow publications.



Relevant learning resources will be placed on the learning hub (DLS) progressively throughout the semester. Students will need to access this site on a weekly basis, print the materials and bring them to class.

Apply Principles of Professional Practice to work in the Financial Services Industry. Edition 3 (November 2011) Author Peter Bull software Publications


Other Resources

Online Learning Materials

Online learning materials can be accessed via the RMIT website to the Online Learning Hub.  Log in and select EMPL5892C -Apply Principles of Professional Practice in the Financial Services Industry

It is essential to have access to an internet connected computer outside of class times.

Overview of Assessment

In order to achieve competency in this unit, you must provide:

Performance Evidence

Evidence of the ability to:

◾access, interpret and analyse product and service information provided by industry sectors in an effective and timely manner
◾interpret and comply with relevant financial services legislation, regulations and industry codes of practice, and ethics applicable to the workplace
◾recognise and implement sustainability principles and work practices
◾accurately analyse, evaluate and organise relevant information
◾effectively plan work and maintain a team environment, taking into account any constraints and available resources
◾identify and evaluate appropriate professional development opportunities.

Knowledge Evidence

To complete the unit requirements safely and effectively, you must:
◾discuss environmental or sustainability legislation, regulations and codes of practice applicable to industry and organisations
◾outline the main sectors in the financial services industry and the interrelationships between the sectors
◾explain industry and organisational policy and procedures and ethical behaviours in regard to customer service and administration
◾outline industry and organisational security practices and rationale
◾identify internal administration systems such as accounting systems and databases
◾explain principles, practices and available tools and techniques of sustainability management relevant to the industry context
◾explain key requirements of relevant legislation, statutory requirements and industry codes of practice as they relate to:
◾consumer credit
◾financial transaction reporting
◾corporations (including accounting standards)
◾financial services
◾identify the economic and political climate relating to the financial services industry
◾explain triple bottom line principles used in work planning.

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the industry capability field and include access to:
◾organisational policy, procedures, legislation, regulations and codes of practice
◾specialist financial services software and data
◾common office equipment, technology, software and consumables.

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.


Feedback will be provided throughout the semester in class and/or online discussions. You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed.

You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course. Finally, you can email or arrange an appointment with your teacher to gain more feedback on 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

Students are required to complete two tasks. They must successfully complete both tasks to be deemed competent in this unit. When these are satisfactorily completed they will receive a CAG result.

If either or both assignments are assessed as not yet meeting competency standards they will have one more opportunity to resubmit their assignment, either within 14 days or by a time agreed with their teacher.

Assessment Task 1 (due COB Week 12)

Individual assignment covering Elements 1, 2, 4, 6 and 7. This is a report designed to maximise their effectiveness in applying for a job, and for a possible job interview. This will also require an attachment with their covering letter and resume for a designated job advertisement, plus possible questions they could be asked during a job interview.

Assessment task 2 (due COB Week 16)

Group assignment covering Elements 3, 4, 5 and 6.

This report will require students to investigate the sustainability practices of a company or organisation of their choice, and determine the net benefits of its sustainability program to the organisation and the community.

Submission Requirements

You should:

• Ensure that you submit assessments on or before the due date. If your performance in the assessment is affected by unexpected circumstances, you should consider applying for Special Consideration. Information on the process and application forms is available at;ID=ls0ydfokry9rz website.
• 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 work for assessment 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.

Marking Guide (competency)
Vocational Education and Training (VET) is based on current industry needs and the focus on preparing you for the workplace. Because VET courses are delivered  by practical application of knowledge and skills, they are based on a system known as ‘competency based training’ (CBT). So when you are assessed in VET it is about whether you are competent to do the job, as well as having a firm grasp on the knowledge and skills required to do that job, as opposed to traditional curriculum based education settings that are often based on knowledge retention.

You need to demonstrate you are competent in each element of the unit of competency you are studying.

You will receive feedback on each assessment task that will inform you whether you are competent or not and how well you are performing. Once competent in all elements of the unit you receive a competency grading.

Please refer to the Final Grades table below.

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 or as a group depnding on the assessment task..


We are looking for depth of understanding of the key concepts and knowledge required in working in the Financial services Industry. You should be able to demonstrate a thorough understanding of all applicable  legislative requirements in all the assessment tasks.


We are looking for appropriate use of technology to assist in presenting all tasks clearly and suitable for the intended audience. .


We expect to see ongoing uploading of information from Blackboard and timely submission of all required assessment tasks.


We expect to see contributions to relevant discussions and scheduled Collaborate sessions. In addition some of your tasks should demonstrate a very good understanding of strategies for a collaborative approach (ie.Group work)
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.

Assessment Matrix

Assessment taskMarks TopicsElements
1. Individual presentation: Personal competency, managing information, regulators, laws and codes of practiceCA/NYC1-31,2, 4 - 7
2. Group presentation: sustainability, managing information, working in teamsCA/NYC43 - 6

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 Not Yet Competent 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

Other Information

In adherence with RMIT’s commitment to sustainability, course teachers will seek to incorporate environmental concerns in the facilitation of this course. These include, but are not limited to:
• Conserving natural resources
• Using recycled materials wherever possible
• Minimising pollution
• Applying energy savings measures
• Reducing waste
Students are encouraged to identify and follow environmental and resource efficient ways of working whilst studying this course 

For Online Collaborative session please ensure you have Java installed on your computer and a handset and microphone

Course Overview: Access Course Overview