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

Part B: Course Detail

Teaching Period: Term2 2018

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: C5379 - Diploma of Financial Services

Course Contact: Callie Harvey

Course Contact Phone: +61 3 9925 5772

Course Contact Email: callie.harvey@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Andrew Shiangolis

Course Coordinator Financial Services

andrew.shiangolis@rmit.edu.au

 

+61 3 9925 5982

 

 

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 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

Element:

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

Element:

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

Element:

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

Element:

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

Element:

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

Element:

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

Element:

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

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.


The collaborative classroom based activities will include group discussion, group problem solving activities and opportunities to practice your skills in a simulated/real workplace environment.


We expect you to participate and contribute in all scheduled learning activities.
 


Teaching Schedule

This course is comprised of one single competency.

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

 

Teaching Schedule

The Teaching Schedule for this course is as follows:

 

Induction Session


Prior to training commencement a program level induction session will be conducted that comprises the following:

  • Program overview and requirements
  • Canvas Learning Hub
  • Overview of assessment requirements
  • Pre-Training Review including:
    • Recognition of Prior Learning and Credit Transfers
    • Assessment of current skills and knowledge
  • Competency/Grading Criteria
  • Plagiarism
  • Appeals
  • Extensions
  • Feedback
  • Privacy
  • Submission requirements
  • Resubmission policy
  • Where to get support
  • Student responsibilities.

 The Teaching Schedule for this course is as follows but please note that it is subject to change.

 

Course Delivery:  Note that this schedule is a guide only and may be altered as deemed necessary by the teacher.

Course schedule

Week

 

Week Commencing

Course: Apply Principles of professional Practice to work in the Financial Services Industry

Course Code: EMPL 7068C

National Code: FNSINC601

Topics

Online activity

Assessment

Competencies Delivered

1

02/07/2018

Introduction to the Course

including:

·       Course requirements

·       Course support documents

·       CANVAS access to the course

·       Accuracy of enrolment

·       Assessment requirements

·       Reminder re Plagiarism

·       Reminder re Appeals

·       Extensions/Resubmissions

·       Feedback in this course

·       Reminder re submission requirements

·       Getting help

Financial Services Industry in Australia

Students are required to undertake 1 additional hour per week for structured online learning and submit their work online for Teacher Feedback

 

 

 

 

FNSINC401 

2

09/07/2018

 

Regulation of the Financial Services Industry in Australia

 

 

1 hour weekly online learning and submitted online for Teacher Feedback

  

FNSINC401

3

16/07/2018

Key Legislation

1 hour weekly online learning and submitted online for Teacher Feedback

Assessment Task 1 made available

FNSINC401

4

23/07/208

Practical Presentation Skills I

1 hour weekly online learning and submitted online for Teacher Feedback

 

FNSINC401

5

30/07/2018

Practical Presentation Skills II

1 hour weekly online learning and submitted online for Teacher Feedback

 

FNSINC401

6

06/08/2018

 

Sustainability and Financial Services I

 

 

1 hour weekly online learning and submitted online for Teacher Feedback

 

FNSINC401

7

13/08/2018

Sustainability and Financial Services II

1 hour weekly online learning and submitted online for Teacher Feedback

 

FNSINC401

8

20/08/2018

 

In-class assessment presentation

1 hour weekly online learning and submitted online for Teacher Feedback

Assessment Task 1 

Due Date 

Week 8

26/08/2018

FNSINC401

 

9

03/09/2018

Codes of Conduct I

1 hour weekly online learning and submitted online for Teacher Feedback

 

FNSINC401

10

10/09/2018

Codes of Conduct II

Discussion of SBGL Policy and Procedure Document and availibility

1 hour weekly online learning and submitted online for Teacher Feedback

Assessment Task 2 made available

FNSINC401

11

 

17/09/2018

Corporate Communications – Email Etiquette I

1 hour weekly online learning and submitted online for Teacher Feedback

 

FNSINC401

12

24/09/2018

Corporate Communications – Email Etiquette II

1 hour weekly online learning and submitted online for Teacher Feedback

.

FNSINC401

13

01/10/2018

Finalising Project Assessment Task 2

1 hour weekly online learning and submitted online for Teacher Feedback

 

FNSINC401

14

08/10/2018

Finalising Project Assessment Task 2

1 hour weekly online learning and submitted online for Teacher Feedback

 

 

 

FNSINC401

15

15/10/2018

Finalising Project Assessment Task 2

 1 hour weekly online learning and submitted online for Teacher Feedback

 

Assessment Task 2

Due Date 

Week 15

21/10/2018

FNSINC401

16

22/10/2018

Re-submissions if required

 1 hour weekly online learning and submitted online for Teacher Feedback

 

 FNSINC401

 

Please note that the mid-semester break is between 27/8/2018 and 2/9/2018.

The nominal hours associated with this are a guide only and represent the total teaching time and student effort required to successfully complete this 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


References


Other Resources

 Online learning materials can be accessed by going into the RMIT web sites Online Learning Hub.

The online learning materials listed include:

  • Course outlines
  • Power point Presentations
  • Supporting Reading material
  • Industry relevant articles
  • Activities.


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 the individual must:

To complete the unit requirements safely and effectively, the individual 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
    • privacy
    • 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.

Feedback

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. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.

You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course. 

 

 


Assessment Tasks

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 the individual must:

To complete the unit requirements safely and effectively, the individual 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
    • privacy
    • 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.

 

Feedback

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. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.

You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course. 

 

Assessment Tasks

 

This course is comprised of one single competency.

FNSINC401 - Apply Principles of Professional Practice to Work in the Financial Services Industry

 

You will demonstrate competency by undertaking two assessments.The assessments for this course have been designed to allow you to apply your learning to particular workplace scenarios and demonstrate your competence in a variety of ways.

Critical Aspects of assessment are described above in the performance evidence for this course.

 

Assessment Task 1 - Prepare a letter to either shareholders or customers on the implications of the Banking Royal Commission to the Swanston Banking Group - Due Week 8, 26/8/2018

 

For this assessment you will be asked to complete the following:

 

What

You will need to choose one of the following Stakeholders:

  • Shareholder; or
  • Customer

And prepare a letter to the stakeholder covering the following:

  • What is a Royal Commission;
  • What are the terms of reference for the Banking Royal Commission;
  • What is the timeframe for the Commission to complete its findings;
  • What are the implications of the Commission for the Swanston Banking Group;
  • What is the Swanston Banking Group doing to prepare and co-operate with the Commission; and
  • Where to go to for more information.

 

The letter should be clear and concise, and written in a manner that will provide comfort to the stakeholders that they have nothing to fear from the Commission.

 

It will need to be prepared using the Swanston Banking Group standard logo and fonts.

 

It should be no longer than two pages.

 

Where

In class time will be provided to explain the basic requirements of the task, and to assist with the layout and expected content of the letter, but students will be expected to complete most of the assessment outside of class time.

 

How

Students will be assessed according to the criteria outlined in the Criteria for Assessment.  All criteria identified must be addressed to satisfactorily complete this Assessment Task.

 

Assessment Task 2 -  Identifying, analysing, reporting and presenting the relevant legislation and Codes of Practice of the Swanston Banking Group Ltd. - Due Week 15, 21/10/2018

 

Summary and Purpose of Assessment

This assessment task has been designed to allow you to demonstrate:

  • Identifying the policies, procedures and codes of practice of the Swanston Banking Group Ltd.
  • Whether these are complete and inclusive
  • Whether they are compliant and appropriate to the industry and workplace and need correcting in any form
  • Concluding on the overall effectiveness of these policies, procedures and codes of practice.

This assessment task is two of two required to demonstrate competency for this unit.

 

Assessment Instructions

 

What

The assignment involves the preparation of a written report and an in-class presentation.  The report will need to be prepared using the Swanston Banking Group standard logo and fonts.

 

The report will address and answer the following questions.  The presentation will be no longer than 5 minutes and is intended to only summarise the report.

 

Students must download a copy of the document, “Policy and Procedure Document, Swanston Banking group Ltd., (Incorporating SBG Travel) 2018”.  This version will be included in CANVAS.  The following questions must be answered and the written report should not exceed eight (8) A4, pages in length.

 

Questions to be answered

 

              1. From one of the job descriptions, what would be expected of you as an employee of the bank?

 

              1. Is the code reasonable from the point-of-view of the employer’s expectation of its employees?  Why or why not?

 

              1. Why is it important for employees to receive a complete set of instructions when starting a new position within an organisation?

 

              1. Refer to the mission statement and the profile of the bank.  What message do you think they are trying to get across to it’ staff, customers, shareholders and the general public?

 

              1. Refer to section 1 of the Policy.  How important is this policy in your day-to-day work within the bank and do you think these policies are reasonable?  Why/why not?

 

              1.  Refer to section 2 – 4 of the policy.  Describe which you think are the most important policies and codes within these sections.  Which policies and codes in particular are enshrined in legislation.  Do you think they are too strict, not strict enough or maybe to narrow?

 

              1.  The enterprise agreement has 22 sections and a rate of pay scale.  In your opinion, does this agreement cover all areas of what you think an agreement between an employee and employer should include?  Research similar positions in the banking industry and comment on whether you think the rates of pay for the positions in Appendix A are too low, too high or appropriate.

 

Where

In class time will be provided to explain the basic requirements of the task, and to assist with the layout and expected content of the letter and the power points, but students will be expected to complete most of the assessment outside of class time.  The letter must be completed using Microsoft Word and the power points using Microsoft power point.

How

Students will be assessed according to the criteria outlined in the Criteria for Assessment below.  All criteria identified must be addressed to satisfactorily complete this Assessment Task.

 


Assessment Matrix

The assessment matrix that maps all the assessment is available on Canvas.

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 the Assessment task document that includes a declaration and statement of authorship.
  • 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.

 

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:  https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/extensions-of-time-for-submission-of-assessable-work

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:https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/special-consideration

Resubmissions (VET Programs):

Resubmissions (VE Programs):

If you are found to be unsuccessful in a particular Course Assessment Task (or you do not submit/attend) you will be allowed one resubmission.  Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission. 

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.

Grading & re-submissions

Successful re-submissions will contribute a CAG only (Competency Achieved Grading) result to your overall grade for the course.

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:

https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/adjustments-to-assessment

 

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

 

 

CA

Competency Achieved – Not Graded

 

 

NYC

Not Yet Competent

 

 

DNS

Did Not Submit for assessment

 

Course Overview: Access Course Overview