FNS Financial Services VPG Release 4



Victorian Purchasing GuideforFNS - Financial ServicesTraining Package Release 4September 2020 ? State of Victoria (Department of Education and Training) 2020.Copyright of this material is reserved to the Crown in the right of the State of Victoria. This work is licensed under a Creative Commons Attribution-NoDerivs 3.0 Australia licence (See Creative Commons for more information). You are free to use, copy and distribute to anyone in its original form as long as you attribute Higher Education and Skills, Department of Education and Training (DET) as the author, and you license any derivative work you make available under the same licence.DisclaimerIn compiling the information contained in and accessed through this resource, the Department of Education and Training has used its best endeavours to ensure that the information is correct and current at the time of publication but takes no responsibility for any error, omission or defect therein.To the extent permitted by law, DET, its employees, agents and consultants exclude all liability for any loss or damage (including indirect, special or consequential loss or damage) arising from the use of, or reliance on the information contained herein, whether caused or not by any negligent act or omission. If any law prohibits the exclusion of such liability, DET limits its liability to the extent permitted by law, for the resupply of the information.Third party sitesThis resource may contain links to third party websites and resources. DET is not responsible for the condition or content of these sites or resources as they are not under its control.Third party material linked from this resource is subject to the copyright conditions of the third party. Users will need to consult the copyright notice of the third party sites for conditions of usage.Victorian Purchasing Guide Release HistoryNote: RTOs should refer to the National Register for the detail of changes made in each Release. (See National Register for more information)Training Package Release Date VPGApprovedCommentsFNS Financial Services Training PackageRelease 43 September 2020This Victorian Purchasing Guide reflects a major release for the FNS Financial Services Training Package. This release consists of the following changes:Qualifications One (1) new - FNS80020 Graduate Certificate in Anti-Money Laundering and Counter Terrorism Financing,Two (2) deleted - FNS41115 and FNS50815,Eleven (11) updated which includes ten (10) not equivalent and one (1) equivalent.Units of competency Eight (8) new,One (1) deleted,Thirty five (35) updated which includes seven (7) not equivalent and twenty eight (28) equivalent.FNS Financial Services Training Package Release 320 June 2018Update to Maximum Payable Hours for FNS50217 Diploma of Accounting to allow for completion of Tax Agents Skill Set.FNS Financial Services Training Package Release 327 March 2018? Re-instatement of FNS30415 Certificate III in Mercantile Agents (this occurred in FNS Financial Services Release 2.1)Two new qualifications:? FNS40217 Certificate IV in Accounting and Bookkeeping? FNS50417 Diploma of Payroll Services.Two qualifications superseded by and not equivalent to FNS40217 Certificate IV in Accounting and Bookkeeping:? FNS40215 Certificate IV in Bookkeeping? FNS40615 Certificate IV in Accounting.Additions to the listed elective units of all Diploma and Advanced Diploma qualifications. Entry requirements added and changes to the listed elective units of two qualifications:? FNS50217 Diploma of Accounting? FNS60217 Advanced Diploma of Accounting.Changes to the core units, packaging rules, and listed elective units of one non-equivalent qualification:? FNS30317 Certificate III in Accounts Administration? Eight new units of competency in Accounting, Payroll and Industry Capability; 17 updated (equivalent) units; 1 non-equivalent unit and 2 units deleted (Bookkeeping).FNS Financial Services Training Package Release 29 March 2016Two qualifications removed: FNS30415 Certificate III in Mercantile Agents FNS51715 Diploma of Applied Anti-money Laundering and Counter Terrorism Financing. One new qualification: FNS80115 Graduate Diploma of Applied Anti-money Laundering and Counter Terrorism Financing. Four qualifications updated and not equivalent to FNS Financial Services Training Package version 1.1 qualifications: FNS42115 Certificate IV in Personal Injury Management (change to one core unit and three electives added to cover medical indemnity sector) FNS42215 Certificate IV in Personal Trust Administration (change to one core unit and two electives added to meet industry requirements) FNS51915 Diploma of Personal Injury and Disability Insurance Management (change to one core unit and six electives added) FNS52015 Diploma of Personal Trusts (change to four core units and new electives added to meet industry requirements).Industry Skills Council (ISC) upgrade to four qualifications, equivalent to FNS Financial Services Training Package version 1.1 qualifications, with the removal of a clause about selection of elective ASIC units to allow greater flexibility: FNS50615 Diploma of Financial Planning FNS51015 Diploma of Financial Markets FNS60415 Advanced Diploma of Financial Planning FNS60715 Advanced Diploma of Financial Licensing Management.FNS Financial ServicesTraining PackageRelease 117/08/2015(Stage 2)This Victorian Purchasing Guide contains the maximum payable hours for all Financial Services qualifications in addition to the nominal hours information published in Stage 1 (see above).FNS Financial ServicesTraining PackageRelease 15/06/2015(Stage 1)Please note: This Victorian Purchasing Guide (Stage 1) contains unit data and associated nominal hours ONLY for ALL units in Release 1 of this training package.This decision has been approved by Higher Education and Skills Group (HESG) in order to allow all stakeholders and jurisdictions that need access to unit hours for the purposes of delivery are not subject to unnecessary delays.FNS Financial Services Training Package Release 4 Victorian Purchasing GuideCONTENTS TOC \h \z \t "T1,1,T2,2" INTRODUCTION PAGEREF _Toc49520097 \h 2What is a Victorian Purchasing Guide? PAGEREF _Toc49520098 \h 2Registration PAGEREF _Toc49520099 \h 2Transition PAGEREF _Toc49520100 \h 2QUALIFICATIONS PAGEREF _Toc49520101 \h 3UNITS OF COMPETENCY AND NOMINAL HOURS PAGEREF _Toc49520102 \h 5CONTACTS AND LINKS PAGEREF _Toc49520103 \h 27GLOSSARY PAGEREF _Toc49520104 \h 28INTRODUCTIONWhat is a Victorian Purchasing Guide?The Victorian Purchasing Guide provides information for use by Registered Training Organisations (RTOs) in the provision of Victorian government subsidised training.Specifically the Victorian Purchasing Guide provides the following information related to the delivery of nationally endorsed Training Packages in Victoria:The maximum and minimum payable hours available for each qualification.Nominal hours for each unit of competency within the Training Package.RegistrationRTOs must be registered by either the Victorian Registration and Qualifications Authority (VRQA) or the Australian Skills Qualification Authority (ASQA) regulatory body to be eligible to issue qualifications and Statements of Attainment under the Australian Qualifications Framework (AQF).The VRQA is the regulatory authority in Victoria responsible for the registration of Vocational Education and Training (VET) providers who offer courses to domestic students in Victoria only.ASQA is the regulatory authority responsible for the registration of VET providers who offer training in Victoria, nationally and / or internationally. Transition The relationship between new units and any superseded or replaced units from the previous version of FNS Financial Services Training Package Release 4 is provided in the Training Package Companion Volume Implementation Guide. (See Companion Volumes for more information). Information regarding transition arrangements can be obtained from the state or national VET Regulatory Authority (see Contacts and Links section).RTOs must ensure that all training and assessment leading to issuance of qualifications or Statements of Attainment from the FNS Financial Services Training Package Release 4 is conducted against the Training Package units of competency and complies with the assessment requirements.QUALIFICATIONSCodeTitleMinimum Payable HoursMaximum Payable HoursFNS10115Certificate I in Financial Services176185FNS20115Certificate II in Financial Services190200FNS30120Certificate III in Financial Services390410FNS30215Certificate III in Personal Injury Management451475FNS30317Certificate III in Accounts Administration418440FNS30415Certificate III in Mercantile Agents361380FNS30515Certificate III in General Insurance413435FNS30615Certificate III in Insurance Broking442465FNS40120Certificate IV in Credit Management375395FNS40217Certificate IV in Accounting and Bookkeeping632665FNS40715Certificate IV in Financial Practice Support660695FNS40815Certificate IV in Finance and Mortgage Broking504530FNS40915Certificate IV in Superannuation537565FNS41415Certificate IV in General Insurance599630FNS41515Certificate IV in Life Insurance494520FNS41715Certificate IV in Insurance Broking466490FNS41820Certificate IV in Financial Services494520FNS42020Certificate IV in Banking Services404425FNS42115Certificate IV in Personal Injury Management646680FNS42215Certificate IV in Personal Trust Administration504530FNS50217Diploma of Accounting584650FNS50315Diploma of Finance and Mortgage Broking Management727765FNS50417Diploma of Payroll Services461485FNS50615Diploma of Financial Planning817860FNS50715Diploma of Superannuation765805FNS50920Diploma of Banking Services Management613645FNS51020Diploma of Financial Markets561590FNS51115Diploma of General Insurance760800FNS51215Diploma of Insurance Broking570600FNS51315Diploma of Life Insurance784825FNS51415Diploma of Loss Adjusting931980FNS51520Diploma of Credit Management551580FNS51615Diploma of Securitisation618650FNS51820Diploma of Financial Services532560FNS51915Diploma of Personal Injury and Disability Insurance Management556585FNS52015Diploma of Personal Trusts608640FNS60115Advanced Diploma of Insurance Broking694730FNS60217Advanced Diploma of Accounting808850FNS60415Advanced Diploma of Financial Planning608640FNS60515Advanced Diploma of Superannuation646680FNS60620Advanced Diploma of Banking Services Management675710FNS60720Advanced Diploma of Financial Licensing Management570600FNS60820Advanced Diploma of Integrated Risk Management627660FNS80020Graduate Certificate in Anti-Money Laundering and Counter Terrorism FinancingN/A240FNS80120Graduate Diploma of Anti-Money Laundering and Counter Terrorism Financing627660UNITS OF COMPETENCY AND NOMINAL HOURSUnit CodeUnit TitleNominal HoursFNSACC304Conduct business activities using a computerised accounting system40FNSACC311Process financial transactions and extract interim reports60FNSACC312Administer subsidiary accounts and ledgers40FNSACC313Perform financial calculations30FNSACC405Maintain inventory records20FNSACC407Produce job costing information40FNSACC408Work effectively in the accounting and bookkeeping industry40FNSACC411Process business tax requirements50FNSACC412Prepare operational budgets40FNSACC413Make decisions in a legal context60FNSACC414Prepare financial statements for non-reporting entities60FNSACC416Set up and operate a computerised accounting system80FNSACC505Establish and maintain accounting information systems50FNSACC511Provide financial and business performance information60FNSACC512Prepare tax documentation for individuals80FNSACC513Manage budgets and forecasts40FNSACC514Prepare financial reports for corporate entities70FNSACC516Implement and maintain internal control procedures40FNSACC517Provide management accounting information60FNSACC601Prepare and administer tax documentation for legal entities80FNSACC602Audit and report on financial systems and records40FNSACC603Implement tax plans and evaluate tax obligations60FNSACC605Implement organisational improvement programs60FNSACC606Conduct internal audit40FNSACC607Evaluate business performance60FNSACC608Evaluate organisation's financial performance60FNSACC609Evaluate financial risk40FNSACC610Develop and implement financial strategies60FNSACC611Implement an insolvency program70FNSACC612Implement reconstruction plan70FNSACC613Prepare and analyse management accounting information60FNSACC614Prepare complex corporate financial reports60FNSACC624Monitor corporate governance activities60FNSACM301Administer financial accounts10FNSACM302Prepare, match and process receipts10FNSACM303Process payment documentation10FNSACM401Evaluate and authorise payment requests10FNSAML811Design anti-money laundering and counter terrorism financing programs90FNSAML812Design and assess controls to monitor money laundering and terrorism financing risk80FNSAML813Design and monitor reporting systems for suspicious transactions80FNSAML814Design customer due diligence policies and procedures80FNSAML815Manage assessment of organisation vulnerability to money laundering and terrorism financing80FNSAML816Implement an anti-money laundering and counter terrorism financing program90FNSASIC301Establish client relationship and analyse needs50FNSASIC302Develop, present and negotiate client solutions50FNSASIC303Provide advice on first home saver account deposit products and non-cash payments50FNSASIC304Provide Tier 2 general advice in general insurance50FNSASIC305Provide Tier 2 personal advice in general insurance50FNSASICL503Provide advice in the regulated emissions market50FNSASICM503Provide Tier 1 personal advice in life insurance50FNSASICN503Provide Tier 1 personal advice in general insurance50FNSASICO503Provide Tier 1 general advice in general insurance50FNSASICQ503Provide advice in first home saver market linked accounts50FNSASICR503Provide advice in margin lending50FNSASICS503Provide advice in foreign exchange50FNSASICT503Provide advice in managed investments50FNSASICU503Provide advice in superannuation50FNSASICV503Provide advice in derivatives50FNSASICW503Provide advice in securities50FNSASICX503Provide advice in life insurance50FNSASICY503Provide advice in insurance broking50FNSASICZ503Provide advice in financial planning50FNSBNK401Coordinate a small business customer portfolio60FNSBNK402Align banking products with the needs of small business customers60FNSBNK403Provide services in a Business Transaction Centre40FNSBNK414Promote mobile banking services40FNSBNK415Provide mobile banking sales and services40FNSBNK416Manage mobile lending services30FNSBNK502Manage services in a Business Transaction Centre60FNSBNK503Provide business advisory services within a financial services context40FNSBNK511Manage banking and service strategy for small business customers60FNSBNK512Assess complex loans?50FNSCMP501Comply with financial services legislation80FNSCRD302Monitor and control accounts receivable20FNSCRD311Process applications for credit20FNSCRD401Assess credit applications30FNSCRD402Establish and maintain appropriate security30FNSCRD403Manage and recover bad and doubtful debts30FNSCRD404Utilise the legal process to recover outstanding debt30FNSCRD405Manage overdue customer accounts30FNSCRD502Manage factoring and invoice discounting arrangements40FNSCRD503Promote understanding of the role and effective use of consumer credit40FNSCRD504Manage the credit relationship40FNSCRD511Respond to personal insolvency situations40FNSCRD515Respond to corporate insolvency situations40FNSCUS301Respond to customer enquiries25FNSCUS401Participate in negotiations20FNSCUS402Resolve disputes25FNSCUS403Deliver a professional service to customers35FNSCUS501Develop and nurture relationships with clients, other professionals and third party referrers50FNSCUS502Monitor client requirements40FNSCUS503Review business performance50FNSCUS504Manage premium customer relationships60FNSCUS505Determine client requirements and expectations70FNSCUS506Record and implement client instructions75FNSCUS601Establish, manage and monitor key relationships50FNSFLT201Develop and use a personal budget20FNSFLT202Develop and use a savings plan20FNSFLT203Develop knowledge of debt and consumer credit25FNSFLT204Develop knowledge of superannuation40FNSFLT205Develop knowledge of the Australian financial system and markets40FNSFLT206Develop knowledge of taxation40FNSFLT301Be MoneySmart40FNSFLT401Be MoneySmart through a career in small business40FNSFLT501Assist customers to budget and manage own finances40FNSFLT502Facilitate customer awareness of the Australian financial system and markets40FNSFLT503Promote basic financial literacy skills30FNSFLT504Facilitate customer knowledge of personal financial statements30FNSFLT505Facilitate customer or employee knowledge of superannuation as an investment tool60FNSFMB401Prepare loan application on behalf of finance or mortgage broking clients30FNSFMB402Identify client needs for broking services40FNSFMB403Present broking options to client40FNSFMB501Settle applications and loan arrangements in the finance and mortgage broking industry30FNSFMB502Identify and develop broking options for clients with complex needs60FNSFMB503Present broking options to client with complex needs50FNSFMB504Implement complex loan structures50FNSFMK402Develop and maintain knowledge of financial markets products40FNSFMK403Interpret financial markets information40FNSFMK411Perform reconciliations20FNSFMK416Conduct work within financial markets compliance framework40FNSFMK502Analyse financial market products for client50FNSFMK503Advise clients on financial risk60FNSFMK509Process transaction documentation60FNSFMK512Apply knowledge of emissions markets70FNSFMK513Undertake assessment of product and advice suitability for non-retail clients50FNSFMK514Complete confirmation and settlement processes40FNSFMK515Comply with financial services regulation and industry codes of practice80FNSFMK516Review and confirm human resources and IT systems satisfy requirements of licence70FNSFMK517Analyse risk mitigation in the operations process60FNSFMK518Monitor and process collateral70FNSFMK520Develop and monitor risk management strategies for client70FNSFMK521Analyse financial markets and information60FNSFMK522Apply financial product knowledge in the context of the deal transaction cycle50FNSFMK523Comply with requirements of licence and regulatory framework80FNSFMK524Conduct work within financial markets organisational risk management framework60FNSFMK611Price financial transactions60FNSFMK612Manage trading exposures70FNSFMK619Develop and implement policies and procedures to support organisational values and culture70FNSFPL401Extract and analyse information on specified financial strategies and products50FNSFPL402Prepare financial plans to set strategies and guidelines50FNSFPL403Implement financial plans to predetermined guidelines40FNSFPL501Comply with financial planning practice ethical and operational guidelines and regulations50FNSFPL502Conduct financial planning analysis and research50FNSFPL503Develop and prepare financial plan60FNSFPL504Implement financial plan50FNSFPL505Review financial plans and provide ongoing service40FNSFPL506Determine client financial requirements and expectations60FNSFPL507Provide financial planning advice50FNSFPL508Conduct complex financial planning research50FNSFPL601Provide technical and professional guidance40FNSFPL602Determine client requirements and expectations for clients with complex needs50FNSFPL603Provide comprehensive monitoring and ongoing service40FNSFPL604Develop complex and innovative financial planning strategies50FNSFPL605Present and negotiate complex and innovative financial plans40FNSFPL606Implement complex and innovative financial plans50FNSIAD301Provide general advice on financial products and services30FNSIAD501Provide appropriate services, advice and products to clients150FNSIAD502Provide appropriate and timely information and advice to clients70FNSIBK302Provide general advice in general insurance broking products and services40FNSIBK401Research, analyse and report information in insurance broking40FNSIBK402Implement new or renewed insurance program for insurance broking clients40FNSIBK403Place client insurances with insurer and confirm insurance cover with clients40FNSIBK404Provide a claims service to an insurance broking client50FNSIBK405Meet industry and legislative guidelines and organisational procedures relating to insurance broking40FNSIBK406Deliver professional insurance broking services40FNSIBK507Review service performance60FNSIBK508Implement changes to broking client's insurance program60FNSIBK512Negotiate complex claims settlement for insurance broking client40FNSIBK513Prepare a submission for new business60FNSIBK514Manage a complex risk portfolio for a broking client80FNSIBK515Monitor broking client requirements and establish loss control programs80FNSIBK601Develop guidelines for broking services80FNSIBK602Manage implementation of broking service support systems100FNSIBK603Manage contractual, legislative and code of practice obligations and requirements80FNSIBK604Manage a sales plan for insurance broking services80FNSIBK606Manage compliance requirements for an insurance broking business60FNSIBK607Lead ethical work practices in an insurance brokerage80FNSIBK608Establish and maintain strategic networks and collaborative relationships80FNSIGN401Provide technical guidance100FNSIGN402Inspect quality of work100FNSIGN403Estimate jobs140FNSIGN404Inspect damage and develop scope of work140FNSIGN406Inspect property for saleable items and determine their value35FNSILA501Plan and implement loss investigation150FNSILA502Evaluate collected information150FNSILA503Report findings and provide guidance to involved parties80FNSILA504Negotiate and effect settlement60FNSILA505Provide ancillary services60FNSILD501Prepare a distribution plan60FNSILD502Resource a distribution plan60FNSILD503Establish services to provide advice50FNSILD504Implement and manage the distribution plan50FNSILF302Process a life insurance application15FNSILF303Issue a life insurance policy15FNSILF401Contribute to the life risk underwriting process50FNSILF402Settle policy payments and terminations50FNSILF403Develop and maintain in-depth knowledge of products and services used by the life insurance sector40FNSILF404Process requests for policy alterations and assignments40FNSILF405Evaluate life insurance claims40FNSILF406Collect and manage information to facilitate claims assessment30FNSILF407Settle life insurance claims40FNSILF408Process life insurance contract maturity and surrender payment requests45FNSILF501Assess extraordinary risks60FNSILF502Underwrite complex medical risks50FNSILF503Underwrite complex non-medical risks50FNSILF504Manage complex life insurance claims50FNSILF505Manage ongoing disability claims50FNSILF506Manage group life insurance claims60FNSILF507Manage group life insurance policy administration50FNSINC301Work effectively in the financial services industry30FNSINC402Develop and maintain in-depth knowledge of products and services used by an organisation or sector40FNSINC411Conduct work according to professional practices in the financial services industry30FNSINC501Conduct product research to support recommendations80FNSINC502Assess financial products and services vulnerability to money laundering and terrorism financing80FNSINC503Identify situations requiring complex ethical decision making40FNSINC504Apply ethical frameworks and principles to make and act upon decisions40FNSINC601Apply economic principles to work in the financial services industry60FNSINC602Interpret and use financial statistics and tools60FNSINC802Develop and build effective relationships with regulatory and industry bodies80FNSINC811Lead compliance with financial services regulations and industry codes of practice80FNSISV301Evaluate risk for renewal business30FNSISV302Process alteration to insurance policy20FNSISV303Issue contract of insurance20FNSISV304Issue insurance renewal advice10FNSISV305Issue insurance cancellation advice10FNSISV306Receive and record or register a claim20FNSISV307Follow organisation procedures to process claim10FNSISV308Process facultative and treaty reinsurance claims40FNSISV309Settle insurance claims40FNSISV310Process insurance claims payments20FNSISV401Evaluate risk for new business40FNSISV402Underwrite new business50FNSISV403Survey potential risk exposure100FNSISV404Underwrite renewal business50FNSISV405Analyse insurance claims60FNSISV406Use specialist terminology in insurance claims30FNSISV407Use medical terminology in an insurance context35FNSISV501Issue contracts of insurance covering non-routine and complex situations50FNSISV502Review operational performance of the portfolio100FNSISV503Undertake post-loss risk management100FNSISV504Negotiate treaty reinsurance40FNSISV505Determine risk rating for investment and insurance products50FNSISV506Investigate insurance claims60FNSISV507Implement claim recovery procedures50FNSISV508Review and advise on claims costs, policies and procedures60FNSISV509Analyse financial, medical and psychological claims assessments60FNSISV510Manage non-routine and complex claims50FNSISV511Settle non-routine and complex claims30FNSISV512Work with legal teams to resolve complex claims80FNSISV513Provide decisions on legal liability and indemnity of a claim60FNSISV514Review and update claim reserves in portfolio40FNSISV515Evaluate and report on status of claims portfolio50FNSISV516Allocate authorities and guidelines for distribution80FNSISV517Review claims settlement policies and procedures60FNSMCA301Collect debts40FNSMCA302Repossess property40FNSMCA303Serve legal process40FNSMCA304Locate subjects15FNSMCA401Develop and document case recommendations20FNSMCA402Initiate legal recovery of debts40FNSORG301Administer fixed asset register50FNSORG411Conduct individual work within a compliance framework40FNSORG501Develop and manage a budget80FNSORG503Develop a resource plan50FNSORG506Prepare financial forecasts and projections70FNSORG507Manage client service and business information120FNSORG508Analyse and comment on management reports40FNSORG512Develop, implement and monitor policy and procedures50FNSORG514Develop, monitor and supervise work practices to meet financial services regulatory requirements60FNSORG515Prepare financial reports to meet statutory requirements40FNSORG601Negotiate to achieve goals and manage disputes50FNSORG602Develop and manage financial systems60FNSORG603Establish and prepare operational guidelines in a financial services organisation50FNSORG604Establish outsourced services and monitor performance50FNSPAY501Process salary packaging arrangements and additional allowances in payroll55FNSPAY502Process superannuation payments in payroll30FNSPAY503Process complex employee terminations in payroll40FNSPAY504Interpret and apply knowledge of industrial regulations relevant to payroll55FNSPAY505Interpret and apply knowledge of taxation systems relevant to payroll40FNSPIM301Process benefit payments30FNSPIM302Determine claim liability20FNSPIM303Work within the personal injury management sector35FNSPIM304Assess and determine ongoing entitlements60FNSPIM401Plan and implement rehabilitation and return to work and health strategies80FNSPIM403Educate clients on personal injury management issues60FNSPIM404Assist clients with job placement70FNSPIM405Facilitate a return to work60FNSPIM406Develop and maintain knowledge of personal injury management insurance40FNSPIM407Register policy30FNSPIM408Renew and maintain policy20FNSPIM409Maintain customer relationship25FNSPIM410Collect, assess and use information10FNSPIM412Participate in formal communication processes30FNSPIM413Assist with preparations for conciliation and review hearings35FNSPIM414Manage personal injury claims60FNSPIM415Manage personal injury case loads60FNSPIM416Work effectively in the medical indemnity sector35FNSPIM417Analyse and manage medical indemnity claims70FNSPIM501Develop a return to work or injury management strategy80FNSPIM502Facilitate workplace assessment with stakeholders for personal injury cases60FNSPIM503Represent personal injury management agent or insurer at conciliation and review hearings50FNSPIM504Manage impairment benefit claims60FNSPIM505Use medical knowledge in the management of personal injury claims40FNSPIM506Promote the health benefits of returning to work30FNSPIM507Manage complex return to work cases40FNSPIM508Evaluate and improve return to work programs40FNSPIM509Comply with regulatory frameworks60FNSPIM510Implement informed decision-making50FNSPIM511Facilitate the setting and achievement of goals80FNSPIM512Negotiate settlements for medical indemnity claims60FNSPRM601Establish, supervise and monitor practice systems to conform with legislation and regulations60FNSPRM602Improve the practice60FNSPRM603Grow the practice60FNSPRM604Prepare, supervise and monitor application of practice guidelines60FNSPRM605Establish or review marketing, client services and supplier relationships80FNSPRM606Establish or review human resources, administration and information support80FNSPRT301Establish entitlements to an intestate estate30FNSPRT302Administer a non-complex estate50FNSPRT303Administer a non-complex trust50FNSPRT402Prepare a will50FNSPRT403Administer a complex estate60FNSPRT404Administer a trust dealing with complex matters60FNSPRT405Establish powers of attorney or financial administration orders50FNSPRT406Administer powers of attorney or financial administration orders50FNSPRT407Investigate and substantiate entitlement in an intestate estate40FNSPRT501Advise clients on trust structures60FNSPRT502Advise clients in estate planning30FNSPRT503Assess, allocate and supervise work within the personal trustee sector60FNSPRT504Apply knowledge of the regulatory environment relevant to trustee organisations50FNSPRT505Develop and maintain knowledge of financial services and assets60FNSPRT506Develop understanding of traditional trustee services50FNSPRT507Apply principles of fiduciary duty, substituted decision-making and ethical decision-making50FNSPRT508Administer a charitable trust60FNSRSK411Apply risk management strategies to own work?50FNSRSK511Undertake risk identification40FNSRSK512Assess risks50FNSRSK611Develop and implement risk mitigation plan60FNSRSK612Determine and manage risk exposure strategies60FNSRTS303Balance retail transactions30FNSRTS304Administer debit card services30FNSRTS305Process customer accounts50FNSRTS306Process customer transactions50FNSRTS307Maintain Automatic Teller Machine (ATM) services10FNSRTS308Balance cash holdings10FNSRTS309Maintain main bank account30FNSRTS311Provide customer service in a retail agency30FNSRTS312Execute foreign currency transactions60FNSRTS401Manage credit card services40FNSRTS402Prepare government returns and reports15FNSSAM301Identify opportunities for cross-selling products and services25FNSSAM401Sell financial products and services30FNSSAM402Implement a sales plan50FNSSAM403Prospect for new clients30FNSSAM501Apply advanced selling techniques to selling of financial products and services50FNSSAM502Assess market needs50FNSSAM503Monitor market opportunities50FNSSAM601Monitor performance in sales of financial products or services20FNSSAM602Identify and evaluate marketing opportunities in the financial services industry80FNSSAM603Tailor financial products to meet customer needs50FNSSAM604Establish agreements with intermediaries for product distribution80FNSSMS401Process self-managed superannuation contribution40FNSSMS501Invest self-managed superannuation funds assets60FNSSMS502Manage changes to fund structure50FNSSMS503Manage administration activities of a superannuation fund70FNSSMS504Meet self-managed superannuation fund compliance requirements50FNSSMS505Support trustee in the selection and performance monitoring of outsourced services50FNSSMS601Provide advice in self-managed superannuation funds100FNSSMS602Consider taxation requirements when advising in self-managed superannuation funds80FNSSMS603Apply legislative and operational requirements to advising in self-managed superannuation funds120FNSSUP301Process superannuation fund payments40FNSSUP302Establish, maintain and process superannuation records30FNSSUP303Process superannuation contributions20FNSSUP304Process superannuation rollover benefits20FNSSUP305Implement member investment instructions40FNSSUP306Terminate superannuation plans40FNSSUP401Process complex superannuation benefit or insurance claim40FNSSUP402Assist in meeting superannuation compliance requirements50FNSSUP404Establish and customise employer accounts30FNSSUP406Establish and maintain fund or plan70FNSSUP407Assess complex superannuation benefit or insurance claims70FNSSUP408Participate in fund review practices50FNSSUP409Provide specialist retirement income stream information to clients50FNSSUP410Establish and administer retirement income streams70FNSSUP411Terminate retirement income streams70FNSSUP412Determine impact of social security entitlements on retirement income70FNSSUP413Apply knowledge of retirement planning issues when dealing with clients50FNSSUP414Develop and apply knowledge of aged care50FNSSUP501Supervise complaints procedures50FNSSUP502Supervise insurer liaison50FNSSUP503Develop client relationships with employers and establish superannuation systems60FNSSUP504Provide advanced customer service to superannuation clients50FNSSUP505Produce reports for superannuation80FNSSUP506Supervise and monitor operational guidelines in a superannuation organisation50FNSSUP507Review compliance with regulatory and contractual requirements80FNSSUP508Provide effective information to members60FNSSUP509Work within a defined benefit fund50FNSSUP510Supervise insurance tender process50FNSSUP601Liaise with and support trustees60FNSSUP602Manage official complaints procedures and proceedings70FNSSUP603Integrate investment strategy with fund operations80FNSTPB401Complete business activity and instalment activity statements50FNSTPB402Establish and maintain payroll systems45FNSTPB503Apply legal principles in contract and consumer law60FNSTPB504Apply legal principles in corporations and trust law60FNSTPB505Apply legal principles in property law60FNSTPB506Apply taxation requirements when providing tax (financial) advice services60FNSTPB507Apply legal principles in commercial law when providing tax (financial) advice services60CONTACTS AND LINKSCurriculum Maintenance Manager (CMM)CMM Service NameThe CMM Service is provided on behalf of Higher Education and Skills.CMM Service Executive Officers can assist with questions on payable and nominal hours.Alan Daniel Executive Officer C/- Chisholm Institute PO Box 684 Dandenong VIC 3175Ph: (03) 9238 8501 Email: Alan DanielService Skills Organisation (SSO)PwC’s Skills For AustraliaThis SSO is responsible for developing this FNS Financial Services Training Package and can be contacted for further information. Phone: 1800 714 819 ??Email:?info@ SSO website can be found here.National Register for VET in .au (TGA)TGA is the Australian government’s official National Register of information on Training Packages, qualifications, courses, units of competency and RTOs.See the National Register for more information.Australian GovernmentDepartment of Employment, Skills, Small and Family Business The Commonwealth Department is responsible for national policies and programmes that help Australians access quality vocational education and training. See the Commonwealth Department of Employment, Skills, Small and Family Business website for more information. State GovernmentDepartment of Education and Training (DET) DET is the State Training Authority responsible for supporting implementation of Vocational Education and Training (VET) in Victoria. (03) 9637 2000See the Victorian Department of Education and Training website for more information.National VET Regulatory AuthorityAustralian Skills Quality Authority (ASQA)ASQA is the national regulator for Australia’s VET sector. Info line: 1300 701 801 See the ASQA website for more information.Victorian State VET Regulatory AuthorityVictorian Registration and Qualifications Authority (VRQA)The VRQA is a statutory authority responsible for the registration and regulation of Victorian RTOs and for the regulation of apprenticeships and traineeships in Victoria.(03) 9637 2806 See the VRQA website for more information. GLOSSARYCodeNationally endorsed Training Package qualification code.TitleNationally endorsed Training Package qualification title.Unit CodeNationally endorsed Training Package unit code.Unit TitleNationally endorsed Training Package unit title.Maximum Payable HoursThe maximum number of hours the Victorian Government will subsidise under Skills First funding for the achievement of the minimum realistic vocational outcome of the qualification, as determined by the qualification packaging rules.? The Maximum Payable Hours do not cover every possible combination of core and elective units available for a specific qualification.?? Minimum payable hours reflect a calculated minimum number of hours that could deliver a minimum realistic vocational outcome, based on efficiencies of contextualisation and integration.Scope of RegistrationScope of registration specifies the AQF qualifications and/or units of competency the training organisation is registered to issue and the industry training and/or assessment services it is registered to provide.Nominal HoursNominal hours reflect the anticipated time taken to deliver and assess the outcomes of a unit of competency excluding unsupervised delivery or the time taken for repeated practical application of skills. Nominal hours are determined by the Victorian State Training Authority (DET) and are primarily developed for funding purposes in Victoria. ................
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