Course Title: Apply principles of professional practice to work in the financial services industry
Part B: Course Detail
Teaching Period: Term1 2016
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: C4366 - Certificate IV in Accounting
Course Contact : Ben Sethia
Course Contact Phone: +61 3 9925 5982
Course Contact Email:ben.sethia@rmit.edu.au
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
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 covers skills required to work in senior roles in the financial services industry and underpins other specialist units used in all sectors of the industry.
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 |
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 |
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 |
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 |
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 |
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 |
Element: |
7. Develop and maintain personal competency |
Performance Criteria: |
7.1 Identify and review personal professional development needs and goals on regular basis |
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
Induction Session
Prior to training commencement a program level induction session will be conducted that comprises the following:
- Program overview and requirements
- MyRMIT/Blackboard
- 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.
| Week | Commencing | Topics | Assessment |
| 1 | 8 Feb 2016 | 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 Topic 1: Introduction to Financial Markets and Institutions and Responsibilities of the Industry |
|
| 2 | 15 Feb | Financial services industry legislation and regulators | |
| 3 | 22 Feb | Financial services industry legislation and regulators |
|
| 4 | 29 Feb | Ethics, codes of practice, minimum and best practice standards | Task 1 due |
| 5 | 7 Mch | Participate in and facilitate work team activities | |
| 6 | 14 Mch | Manage information | Feedback on Task 1 |
| 7a | 21 Mch | Managing self and managing time | |
| 24-30 Mch | Mid Semester Break | ||
| 7b | 31 Mch | managing self and managing time | |
| 8 | 4 Apr | Sustainability principles | |
| 9 | 11 Apr | Sustainability legislation and practices | |
| 10 | 18 Apr | Group presentation | Task 2, feedback on Ppt presentation supplied during class, feedback on the group written report to be given during Week 11. |
| 11 | 25 Apr | Personal competency: job applications | |
| 12 | 2 May | Personal competency: job applications | |
| 13 | 9 May | Personal competency: professional development | |
| 14 | 16 May | Assignment preparation | Task 3 due |
| 15 | 23 May | Feedback Task 3 | |
| 16 | 30 May | Resubmissions if necessary |
|
The above schedule is a guide only and may change as deemed necessary by your teacher. The nominal hours are a guide for classes, but does entail extra time to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.
Learning Resources
Prescribed Texts
Long, Aitken, Seddon & Torres (2016) Principles of Professional Practice, 7th edition, Better Teams Publications. This is cheapest if ordered online from the learnnowbiz website. |
9781876124304 |
References
Other Resources
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, you 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
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.
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
The assessments are designed to cover all elements in this course and to discuss various contemporary (current) issues relevant to working in the financial services industry.
All three (3) competency based assessments for this course must be successfully 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 4 March 2016
Sectors and responsibilities of the financial services industry
Individual report, maximum 800 words, to be submitted online via Turnitin in Blackboard/Learning Hub.
Task 2: Due during class by Week 10 ended 22 April
Group (maximum 3 students) PowerPoint presentation on Sustainability (TBL). In addition an add-on written group report of maximum 350 words on how the group worked as a team is to be handed in by the end of the class.
Task 3: Due 20 May
This assessment contains multiple tasks focusing on job applications including 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, to be submitted online.
Assessment Matrix
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 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, 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: 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 unsuccessful 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
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
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.
Course Overview: Access Course Overview