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

Part B: Course Detail

Teaching Period: Term2 2012

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: C4297 - Certificate IV in Banking Services

Course Contact : Michael Elliot

Course Contact Phone: +61 3 9925 5519

Course Contact

Name and Contact Details of All Other Relevant Staff

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

There are no prerequisites for this course but you will complete the co-requisite FNSFLT502A - Facilitate customer awareness of the Australian financial system and markets

Course Description

This course 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. 

It 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. Develop and maintain personal competency

Performance Criteria:

1. Professional development needs and goals are identified and reviewed on a regular basis
2. Competency, authorisation and licensing requirements are clarified and complied with
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:

1. Information on relevant legislation, regulations and codes of practice is collected, analysed and effectively applied to the job role
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
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:

1. Information on sustainability policies, strategies and impacts on industry is obtained and from a range of sources and analysed
2. Environmental sustainability is identified as an integral part of business planning and promoted as a business opportunity
3. Work planning incorporates and supports triple bottom line principles.


4. Identify the scope, sectors and responsibilities of the industry

Performance Criteria:

1. External forces impacting on the financial services industry are identified and considered in carrying out activities
2. The main sectors of the financial services industry and the interrelationship between sectors are identified and considered in carrying out activities
3. The roles and responsibilities of other participants in the financial services industry are identified and considered in carrying out activities.


5. Manage information

Performance Criteria:

1. Relevant documents and reports that could impact on work effectiveness and compliance are read and understood, and any implications discussed with appropriate persons
2. Documents, reports, data and numerical calculations are analysed, checked, evaluated and organised to meet customer and organisation requirements
3. Information is presented in a format appropriate for the audience.


6. Participate in and facilitate work team activities

Performance Criteria:

1. Provide feedback to team members to encourage, value and reward individual and team efforts and contributions
2. Actively encourage team members to participate in and take responsibility for team activities and communication processes
3. Give the team support to identify and resolve problems which impede its performance
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.


7. Plan work to be completed taking into consideration time, resources and other constraints

Performance Criteria:

1. Tasks to be done and relevant conditions are determined and work planned either for working autonomously or with others in a team environment
2. Work is planned for a given period managing resources, time and priorities
3. Contributions are made to organisation planning process as required to achieve service improvement
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 via Blackboard and require access to and use of a variety of course material on hazard identification and assessment.
The collaborative classroom based activities will include discussion about your workplace experience. Examples of the practical applications within industry will also be discussed.
You are expected to participate and contribute in all scheduled learning activities including completion of tutorial exercises consisting of practical problems, short answer questions and case studies.

Teaching Schedule

025 JuneCourse and assessment requirements. Task 1 issued.
Australian financial system intro:
• Structure and role
• Main participants
12 JulyTypes of Financial Markets
Products and Instruments
Assessment/Task 1 due. Feedback Week 3. If required, resubmission due by end Week 4.
29 JulyDefinition of money; measuring Money Supply and its importance 
316 JulyMoney and economic activity; The Quantity Theory of Exchange and the Credit Creation Process 
423 JulyThe role and function of the Reserve Bank of Australia 
530 JulyStudent Study Week 
66 AugConduct of monetary policy 
713 AugIntro to prudential supervision:
• The role and function of APRA
• Liquidity and capital adequacy
820 AugReview of weeks 1 to 7 
-27 AugustMid semester break 
93 SeptAssessment Task 2: Class testTask 2 feedback in Week 11. If required, resubmission scheduled for Week 17.
1010 SeptKey features: Financial Services Reform Act, impact on financial markets 
1117 SeptFinancial Services Reform Act; ASIC’s regulatory guides and impact on financial markets 
1224 SeptUniform Consumer Credit code; recent credit & credit card reforms. Banking Code of Conduct; recent reforms to Australian banking 
131 OctPrivacy Act and impact on financial markets 
148 OctJob application: role of CV, cover letter and job application 
1515 OctTask 3: Group and Individual AssignmentTask 3 due. Feedback by end Week 16. If required, resubmission due by end Week 17.
1622 OctTask 3 feedback 
1729 OctResubmissions due 

Learning Resources

Prescribed Texts


Other Resources

All relevant learning resources will be placed on the online learning hub (
Relevant references:
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. (2011) Financial institutions & markets, 6th ed, Thomson, Melbourne
Layton, Robinson and Tucker (2012), Economics for today, 4th ed, Thomson, Melbourne

Overview of Assessment

Assessment may incorporate a variety of methods including written tests, a group assignment and final assessment.

Tests are closed book and consist of multiple choice, practical exercises and short answer questions.

The group assignment requires students to research the role and function of a financial institution or a major contemporary issue relating to the financial system and of concern to consumers.

The final assessment may be included in the group assessment or in some cases may be an individual assignment.

Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure the relevant competency standards are being met. Students will be provided with feedback throughout the course to check their progress.

Assessment Tasks

You are required to successfully complete all 3 tasks to be deemed competent in this unit.

TASK 1 (Due: End Week 2)
An assessment task consisting of a short answer question covering the purpose of financial markets and the major markets within the Australian financial markets.

TASK 2 (Scheduled for Week 9)
Class Test. A 1 hour 30 minutes closed book test covering elements 1 to 4. It will consist of short answer and case-study questions.

TASK 3 (Due end Week 15)
Assignment with two components:
a. The group component requires students to research the financial system and how it is regulated.
b. The individual component requires students to individually prepare a resume, CV, and covering letter in response to a specific job application for a financial organization.

Assessment Matrix

Other Information

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 informed 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:

You are required to demonstrate a high level of ability to complete all tasks independently as per the specifications as well as demonstrating a high level of initiative in your access of information required for the assessments tasks, accuracy and quality of information presented to the client and appropriate recommendation using the information you have access, analysed and presented.

You need to show a depth of understanding of the key concepts and knowledge of the financial products covered in the assessment tasks, including personal loans and overdrafts and general insurance products. Accuracy of all related interest rates, repayment calculations, fees and charges is essential.

Demonstration of appropriate use of technology to assist in presenting all tasks clearly and suitable for the intended audience. This requires use of bank and financial institution web sites to access financial data and demonstrate a capacity to use financial calculators to calculate repayments and credit limits.

You must complete all work requirements as per course requirements and timely submission of all required assessment tasks. You need to collate data and organize it in a presentable format that meets the requirements of the assessment tasks.

Communication skills and teamwork is required to collaboratively complete this course.

Final Grade 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

Course Overview: Access Course Overview