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: C4324 - Certificate IV in Accounting
Course Contact : Ian Nash
Course Contact Phone: +61 3 99255733
Course Contact Email:ian.nash@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Ian Nash 9925 5733
Arie Herrnstadt 9925 5772
Angello Sellan 99255460
Anjella Davydov
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
None
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 |
Element: |
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 |
Element: |
Develop and maintain personal competency |
Performance Criteria: |
7.1. Professional development needs and goals are identified and reviewed on a regular basis |
Element: |
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 |
Element: |
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 |
Element: |
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 |
Element: |
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 |
Element: |
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 |
Learning Outcomes
- 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
Details of Learning Activities
Students will be expected to complete the exercises selected from their text book and supplementary exercises provided, in class time and also devote time for completion of these exercises at home during non scheduled teaching weeks. Guideline notes covering key concepts for each element of competency will be provided on the Learning Hub for student access. Students will be expected to read the prescribed text references in order to consolidate their understanding.
Examples of the practical applications within industry will also be discussed by using current event newspaper articles which will be updated each week 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, delivering presentations and working co -operatively in a group environment. We expect you to particiapte and contribute in all scheduled learning activities
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 both to Full time students and to FlexEd students
|
|
|
Element | |
| July 7 |
Self directed learning Read course guide and weekly program and assessment guide Access Blackboard site for program and access Course information folders to gain an understanding of the content |
||
| July 14 | 2 Class attendance |
Topic 1: Introduction to Financial Markets and Institutions and Responsibilities of the Industry Main Sectors, Regulators and Career paths |
1 |
| July 21 | 3 Self Directed Learning |
Review Topic 1: Introduction to Financial Markets and Institutions and Responsibilities of the FS’sIndustry Complete exercises from text for topic 1 |
1 |
| July 28 | 4 Class attendance |
Topic 2 Financial services Industry Codes of Practice Task 1due |
2 |
| Aug 4 | 5 Self Directed Learning |
Review Topic 2 Financial services Industry Codes of Practice Answer Text questions P.64 Ex 1-4,6,7, P.69 Ex Ex 1,8,9, P. 93 Ex 3-5, 8. |
|
| Aug 11 | 6 Class attendance |
Review questions set for week 5 Topic 3 Regulation and Legislation of FS’s Industry |
2 |
| Aug 18 | 7 Self directed learning |
Topic 3 Regulation and Legislation of FS’s Industry: review .P.86 Ex 2-8, 13, 18-20,22, |
2 |
| Aug 25 | 8 Class attendance |
Review questions for week 7 Topic 7 Professional Development Careers workshop sessions using RMIT website material and RMIT staff in Careers and Employment division of RMIT Hand out Assignment 3 for submission as draft in week 10
|
3 |
| Sep 1 |
Mid Semester break
|
|
3 |
| Sep 8 | 9 Self directed learning |
Topic 4 Identify Sustainability issues for the FS’s Industry Research for Sustainability assignment Using the Internet you will be required to do a search on the topic of Sustainable development to complement the material discussed in week 8 class. This will enable you to complete the assignment on sustainability Collaborative session for FLEX ED students
|
4 |
| Sep 15 | 10 Class attendance |
Topic 5 Managing Information Submission as draft for Assignment 3 |
4 |
| Sep 22 | 11 Self directed learning |
Review Topic 5 Managing Information
|
4 |
| Sep 29 | 12 Class (collaborative session) |
Topic 6 Work Team Activities Topic 7 Professional Development Assessment 2 due- Presentation |
5 and 6 |
| Oct 6 | 13 Self directed learning |
Review Topic 6 Work Team Activities
P. 98 Ex 105 |
5 and 6 |
| Oct 13 | 14 Class attendance |
Topic 7 Professional Development Assessment 3 due Prepare for re submissions for Assignment 3 as final attempt in week 16 |
5 and 6 |
| Oct 20 | 15 Class attendance |
Review Topic 7 Professional Development P. 69 Ex 2-4 |
7 |
| Oct 27 | 16 Class | Resubmission of Assignment work due as resubmissions | 1-7 |
Learning Resources
Prescribed Texts
Apply Principles of Professional Practice to Work in the Financial Services Industry. Edition 3 (November 2011) Author Peter Bull Software Publications |
1-74123-818-8 |
References
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. |
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.
FOR ONLINE COLLABORATE SESSION, PLEASE ENSURE YOU HAVE JAVA INSTALLED ON YOUR COMPUTER https://java.com/en/download/index.jsp AND A HEADSET AND MICROPHONE
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.
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 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:
• 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
All competency based assessments for this course must be completed to achieve CAG. Once Competency has been established a grade is applied. This grade will only be applied if a CAG has been achieved in all compulsory assessment tasks. For this Assessment task you are required to work individually.
Task 1 Due date: Week 4 This assessment is to be done individually
a) An ASIC Investigation
b) One or more "scams" listed on the ASIC website
c) A case of Identity theft or other Data security violation
d) Any other relevant Financial sector market misconduct investigation or prosecution
In all the above topics students should endeavour to explain the following:
a) The facts of the case
b) How the "scam" worked
c) The relevant codes of practice and laws breached
d) The outcome of the case, including the consequences for any parties/stakeholders
Task 2: Due date: End of week 12 (Groups of 4 students)
The task for this assessment is to research websites for organisations that publish Sustainability (TBL) reports either as part of their Financial Report or as a stand alone report. A presentation is required with the student to demonstrate their understanding of the concept off Sustainability (TBL)
Task 3: Due date: End of week 14 This assessment contains multiple tasks focusing on job selection writing a cover letter, resume and a plan for further professional development addressing the specific job requirements specified by the employer. It is an individual assessment task.
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 http://rmit.edu.au/browse;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:
1. LEVEL OF INDEPENDENCE, INITIATIVE, ENTERPRISE AND PERFORMANCE OF WORK TASK
We are looking for a high level of ability to complete all tasks independently or as a group depnding on the assessment task..
2. DEMONSTRATED BREADTH OF UNDERPINNING KNOWLEDGE AND A WILLINGNESS TO CONTINUE LEARNING
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.
3. TECHNIQUES & PROCESSES, TECHNOLOGY SKILLS AND PROBLEM SOLVING
We are looking for appropriate use of technology to assist in presenting all tasks clearly and suitable for the intended audience. .
4. WORK ORGANISATION, PLANNING AND SELF MANAGEMENT
We expect to see ongoing uploading of information from Blackboard and timely submission of all required assessment tasks.
5. COMMUNICATION, PEOPLE NETWORKING, LANGUAGE AND INTERPERSONAL SKILLS AND TEAMWORK
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 task | Marks | Topics | Elements |
| 1.Individual Presentations Scams | CA/NYC | 1-3 | 1 and 2 |
| 2 Group presentation- sustainability | CA/NYC | 4 | 3,4,5,6 |
| 3 Individual presentation- professional development | CA/NYC | 7 | 6,7 |
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: http://www.rmit.edu.au/students/assessment/extension
Form to use: http://mams.rmit.edu.au/seca86tti4g4z.pdf
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: http://www.rmit.edu.au/browse;ID=g43abm17hc9w
Form to use: http://mams.rmit.edu.au/8a5dgcaqvaes1.pdf
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: http://rmit.edu.au/browse;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 https://java.com/en/download/index.jsp and a handset and microphone
Course Overview: Access Course Overview