Course Title: Develop and maintain professional relationships in financial services industry
Part B: Course Detail
Teaching Period: Term1 2023
Course Code: BAFI5248C
Course Title: Develop and maintain professional relationships in financial services industry
Important Information:
Please note that this course may have compulsory in-person attendance requirements for some teaching activities.
To participate in any RMIT course in-person activities or assessment, you will need to comply with RMIT vaccination requirements which are applicable during the duration of the course. This RMIT requirement includes being vaccinated against COVID-19 or holding a valid medical exemption.
Please read this RMIT Enrolment Procedure as it has important information regarding COVID vaccination and your study at RMIT: https://policies.rmit.edu.au/document/view.php?id=209.
Please read the Student website for additional requirements of in-person attendance: https://www.rmit.edu.au/covid/coming-to-campus
Please check your Canvas course shell closer to when the course starts to see if this course requires mandatory in-person attendance. The delivery method of the course might have to change quickly in response to changes in the local state/national directive regarding in-person course attendance.
School: 525T Business & Enterprise
Campus: City Campus
Program: C5419 - Diploma of Finance and Mortgage Broking Management
Course Contact: Mandeep Chahil
Course Contact Phone: +61 3 9925 5980
Course Contact Email: mandeep.chahil@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
John Calabro
john.calabro@rmit.edu.au
Dario Bartolomeo
dario.bartolomeo@rmit.edu.au
Nominal Hours: 50
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
Nil
Course Description
This unit describes the skills and knowledge required to communicate and network with a wide range of people, internal and external to the organisation, to increase efficiency and build continuing professional relationships.
The unit applies to those who develop relationships in the financial services industry to inform their work. They use a range of specialised managerial techniques to engage with others. The relationships may be with clients, financial advisers, third-party referrers and other professionals in the financial services industry.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
FNSCUS511 Develop and maintain professional relationships in financial services industry |
Element: |
1. Establish professional business relationships |
Performance Criteria: |
1.1 Identify business and professional networks and contacts to benefit own work and that of organisation 1.2 Communicate with identified network members and contacts according to organisational policies and procedures, legislative and regulatory requirements, and professional codes of practice 1.3 Maintain confidentiality when communicating and negotiating with internal and external parties |
Element: |
2. Develop professional business relationships |
Performance Criteria: |
2.1 Develop and secure positive relationships according to organisation's social, business and ethical standards 2.2 Develop existing and identified relationships using business and professional networks to promote and market organisation 2.3 Identify areas of business practices with potential for efficiency improvements |
Element: |
3. Review and maintain relationships |
Performance Criteria: |
3.1 Engage with required personnel to review relationships according to organisational needs 3.2 Identify other sources of information that assist relationships according to organisational policies and procedures 3.3 Expand reputation of organisation in cooperation with other professionals and third parties and identify new and improved business practices 3.4 Maintain business and professional network and identify new and improved business practices in identified areas |
Learning Outcomes
On successful completion of this course you will have developed and applied the skills and knowledge required to demonstrate competency in the above elements.
Details of Learning Activities
Students will be engaged in a variety of pre-class, in-the-class, and post-class activities as outlined in the relevant Canvas shell.
Teaching Schedule
Week |
Topic |
Assessment Remarks |
Week 10 |
Introduction to unit and teacher
|
|
Week 11 |
Section 2 - Networking Activity An initial part of networking is planning and goal setting. Read P.12 of the learner guide. Illustrate and explain 5 points of difference which can help develop and build your network and relationships among your networking group. |
|
Week 12 |
Cont: with Section 1 Networking and initial Planning and setting goals.
Activity Describe why referrals from your existing clients would be considered the most productive referrals |
|
Week 13 |
Section 2 -Compliance and ethical considerations. Activity Explain the difference between RG 209 and RG 273. Refer to P.11 of the learning guide and list the 9 regulatory guidelines that need to be |
|
Week 14 |
Cont with Section 2 Activity Post in Discussion Board. Refer to P.16 Discuss the difference between mere referrals and downstream referrals |
|
Week 15 |
Section 3- Develop professional business relationships.
Activity Refer to page 23 and list the 6 qualities you require to build positive professional relationships. Activity How do you use your network to build and promote your business? Refer to page 26 |
Assessment Task 1 Due |
Week 16 |
Section 4: Review and maintain relationships Activity Read pages 27-30 Detail 3 ways to improve your delivery of service to clients and detail the best form of feedback for your business |
|
Week 17 |
Cont. Case study scenarios Activity Group discussion around final assessment and role play. |
Assessment Task 2 Due |
Week 18 |
Re-submissions/final results |
Learning Resources
Prescribed Texts
References
Other Resources
Learning resources will be accessible via the Canvas learning management system.
Students will need to regularly access the appropriate content folders in Canvas and complete learning activities as advised by their teacher.
It is expected that students will need to complete some learning tasks in their own time.
Overview of Assessment
Assessment for this course is ongoing throughout the semester. Your knowledge and understanding of course content is assessed through participation in class exercises, oral/written presentations and through the application of learned skills and insights. Full assessment briefs will be provided and can be found on CANVAS.
Assessment Tasks
There will be two (2) assessment tasks in this course, and you must complete both of them satisfactorily to be deemed competent.
Assessment Task 1- Due in Week 15
Completing this assessment task demonstrates the knowledge required to communicate and network with a wide range of people, internal and external to the organisation, to increase efficiency and build continuing professional relationships.
Assessment Task 2- Due in Week 17
Completing this assessment task allows you to demonstrate your skills and knowledge to network with a wide range of people, internal and external to the organisation and use a range of specialised managerial techniques to engage with others and form professional relationships. The relationships may be with clients, financial advisers, third-party referrers, and other professionals in the financial service industry.
Assessment Matrix
The assessment matrix that maps all the assessment is available in Canvas under 'Assignments'.
All assessments will utilise a competency-based model and will be deemed as either Satisfactory or Not Yet Satisfactory.
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 Canvas
- 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, Callie Harvey, 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: 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 (VE Programs)
If you are assessed as unsuccessful in an 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.
If you are assessed as unsuccessful in your resubmission of an assessment task you then you should consult with your course teacher to determine whether any further resubmission opportunities may be available. Your request will be considered by your course teacher, 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: https://www.rmit.edu.au/students/my-course/assessment-results/special-consideration-extensions
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, and you will achieve one of the following results:
Final results table
CA Competency Achieved
NYC Not Yet Competent
DNS Did Not Submit one or more assessment tasks
Course Overview: Access Course Overview