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

Part B: Course Detail

Teaching Period: Term1 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: C4342 - Certificate IV in Banking Services

Course Contact : Doug Gourlay

Course Contact Phone: +61 3 9925-5944

Course Contact

Name and Contact Details of All Other Relevant Staff

Michael Elliot
9925 5519

Sam Tabit
9925 4166

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 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


1. Develop and maintain personal competency
2. Identify and apply financial services industry guidelines, procedures and legislation
3. Identify sustainability issues for the financial services industry
4. Identify the scope, sectors and responsibilities of the industry
5. Manage information
6. Participate in and facilitate work team activities
7. Plan work to be completed taking into consideration time, resources and other constraints


Performance Criteria:

1.1. Professional development needs and goals are identified and reviewed on a regular basis
1.2. Competency, authorisation and licensing requirements are clarified and complied with
1.3. Professional development opportunities that reflect needs and goals are sought and completed in an agreed upon timeframe

2.1. Information on relevant legislation, regulations and codes of practice is collected, analysed and effectively applied to the job role
2.2. Own work practice is clarified and regularly refined in light of relevant legislation, regulations and codes of practice and organisation policies, guidelines and procedures
2.3. Relevant codes of practice are used to guide an ethical approach to workplace practice and decisions.

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

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

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

6.1. Provide feedback to team members to encourage, value and reward individual and team efforts and contributions
6.2. Actively encourage team members to participate in and take responsibility for team activities and communication processes
6.3. Give the team support to identify and resolve problems which impede its performance
6.4. 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

7.1. Tasks to be done and relevant conditions are determined and work planned either for working autonomously or with others in a team environment
7.2. Work is planned for a given period managing resources, time and priorities
7.3. Contributions are made to organisation planning process as required to achieve service improvement
7.4. Changes in technology and work organisation are adapted to in a timely manner

Learning Outcomes

Details of Learning Activities

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 on your experiences in hazard identification in your workplace and the experiences of others in the group. 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

1 - 10 FebFamiliarisation with Course, Blackboard, Course requirements; Overview of assessment requirements.  Where to get support, Student responsibilities.Assessment guidelines as outlined in course guide.
2 - 17 FebIntroduction to the Australian Financial System:
- Structure and role of the Financial System
- Main Participants in the Financial System
3 - 24 Feb- Types of Financial Markets
- Products and Instruments
4 - 3 MarchDefinition of money; Measuring Money Supply and its importanceTask 1 – Introductory assessment task – Due.
You will receive the feedback in week 6.
5 - 10 MarchMoney and economic activity; The Quantity Theory of Exchange and the Credit Creation Process 
6 - 17 MarchThe Role and function of the Reserve Bank of Australia 
7 - 24 MarchThe conduct of monetary policy 
8 - 31 MarchIntro to Prudential Supervision:
- The role and Function of APRA
- Liquidity and Capital Adequacy
9 - 7 AprilAssessment: Class testTask 2 - Test.  You will receive the feedback in week 11. 
10 - 14 AprilKey features of the Financial Services Reform Act and the Impact on Financial Markets 
Mid-Semester break: 17 to 23 April inclusive
11 - 28 AprilMarkets; Key features of ASIC’s regulatory guides and the impact on Financial Markets 
12 - 5 MayKey features of the Uniform Consumer Credit code; recent credit and Australian banking reforms.  Banking code of Conduct. 
13 - 12 MaySustainability; issues for the financial services industry 
14 - 19 MayJob application: role of CV, cover letter and job application 
15 - 26 MayJob application: role of CV, cover letter and job applicationTask 3 - Assignment Due - You will receive the feedback by end of week 16.
16 - 2 JuneGroup & Individual Assignment feedback. 

Learning Resources

Prescribed Texts


RMIT University, Tier 1 Compliance Program notes (available for download from Learning Hub)

Other Resources

Learning Resources
All relevant learning resources will be placed on the online learning hub ( Students will need to access this site on a weekly basis, print off materials, and bring them to class.

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.

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.  You will be provided with feedback throughout the course to check 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
You are required to complete 3 tasks. You must successfully complete all 3 tasks to be deemed competent in this unit.

TASK 1 (Due Date: End of week 4)
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 in Week 9)
Class Test. A closed book test covering topics from weeks 2 to 8. It will consist of short answer and case-study questions.

TASK 3 (Due end of week 15)
Group and Individual Assignment:  A group assignment requiring students to conduct research into various aspects of working in the financial services industry covering topics from weeks 10 to 13, including the educational standards required to work in the industry, the scope of advice able to be provided to clients, recent reforms of the industry and sustainability issues relating to the sector.  The individual component will require students to prepare a job application and resume; the requirement to manage information and maintain personal professional development.

Assessment Matrix

Other Information

Overview of Assessment
Students must demonstrate an understanding of all elements of competency to be deemed competent. A range of assessment methods are used to assess practical skills and knowledge and the performance criteria of the unit.

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 as per the specifications as well as demonstrating a high level of initiative in developing an understanding of the required knowledge of the role of financial institutions and markets in Australia and communicating this in the required assessment tasks.

You are required to demonstrate depth of understanding of the key concepts and knowledge of the role of Australian financial institutions and markets and to communicate this in answers to case-study and short answer questions in the class test and by means of a report in the assignment.

This requires the appropriate use of technology to undertake basic research to complete the assignment and to communicate role of financial institutions and markets to customers.

You are required to plan and manage your time in order to complete assessment tasks. This will require you to revise the required knowledge of the unit for the class test and to plan and manage your time to complete the assignment.

You are required to contribute to class discussions and demonstrate a very good understanding of the role of financial institutions and markets. Additionally, you are required to communicate this knowledge to customers in clear and concise language.

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

Course Overview: Access Course Overview