FNS Financial Financial Services Training Package Implementation Guide – Appendix
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Disclaimer This work has been produced with the ass istance of funding provided by the Commonwealth Government through the Department of Education and Training. The views expressed in this work do not necessarily represent the views of the Department of Education and Training. In add ition, the Department of Education and Training does not give warranty or accept any legal liability in relation to the content of this work. For further information about this Companion Volume or any other work being undertaken by PwC’s Skills for Australia, please visit www.skillsforaustralia.com
PwC’s Skills for Australia PwC’s Skills for Australia One International Towers Sydney Watermans Quay Barangaroo NSW 2000 Australia P: 1800 714 819 E:
[email protected] W : www.skillsforaustralia.com
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Disclaimer This work has been produced with the ass istance of funding provided by the Commonwealth Government through the Department of Education and Training. The views expressed in this work do not necessarily represent the views of the Department of Education and Training. In add ition, the Department of Education and Training does not give warranty or accept any legal liability in relation to the content of this work. For further information about this Companion Volume or any other work being undertaken by PwC’s Skills for Australia, please visit www.skillsforaustralia.com
PwC’s Skills for Australia PwC’s Skills for Australia One International Towers Sydney Watermans Quay Barangaroo NSW 2000 Australia P: 1800 714 819 E:
[email protected] W : www.skillsforaustralia.com
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Table of Contents Version control and modification modification history ............. ........................ ...................... ...................... ...................... ....................... ....................... ...................... ...................... ............... .... 4 Qualifications in the FNS Financial Services Training Package version 3.0 .................. ............................. ...................... ...................... ...........11 Skill sets in the FNS Financial Services Training Package version 3.0 ..................... ................................ ...................... ...................... ............... .... 12 Units of competency in the FNS Financial Services Training Package version 3.0 ............. ........................ ...................... ............... .... 12 Qualification mapping ...................... ................................. ...................... ...................... ...................... ...................... ...................... ....................... ....................... ...................... ...................... ............. ..29 Skill set mapping ..................... ................................ ...................... ...................... ...................... ...................... ...................... ....................... ....................... ...................... ...................... ...................... ...........29 Unit mapping .................................................................................................................................................... 30
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Version control and modification history Version number Version 3.0
Release date
Comments
January 2018
Qualifications 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. All Diploma and Advanced Diploma qualifications remain equivalent to FNS Financial Services Training Package Version 2.1. Entry requirements added and changes to the listed el ective 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. Skill sets Four new skill sets: FNSSS00012 Payroll Administrator Skill Set FNSSS00013 Business Ethics and Conduct Skill Set FNSSS00014 Accounting Principles Skill Set FNSSS00015 Advanced Accounting Principles Skill Set. Units of competency Eight new units of competency: FNSACC304 Conduct business activities using a computerised accounting system FNSINC503 Identify situations requiring complex ethical decision making FNSINC504 Apply ethical frameworks and principles to make and act on decisions FNSPAY501 Process salary packaging arrangements and additional allowances in payroll FNSPAY502 Process superannuation payments in payroll FNSPAY503 Process complex employee terminations in payroll FNSPAY504 Interpret and apply knowledge of industrial regulations relevant to payroll FNSPAY505 Interpret and apply knowledge of taxation systems relevant to payroll. Seventeen units of competency updated to align content with industry skills needs and standards: FNSACC311 Process financial transactions and extract interim reports FNSACC312 Administer subsidiary accounts and ledgers FNSACC313 Perform financial calculations FNSACC411 Process business tax requirements • •
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Release date
Comments FNSACC412 Prepare operational budgets FNSACC413 Make decisions in a legal context FNSACC414 Prepare financial statements for non-report entities FNSACC416 Set up and operate a computerised accounting system FNSACC511 Provide financial and business performance information FNSACC512 Prepare tax documentation for individuals FNSACC513 Manage budgets and forecasts FNSACC514 Prepare financial reports for corporate entities FNSACC516 Implement and maintain internal control procedures FNSACC517 Provide management accounting information FNSACC624 Monitor corporate governance activities FNSTPB401 Complete business activity and instalment activity statements FNSTPB402 Establish and maintain payroll systems. One unit of competency updated to align unit title and content with industry skills needs and work practices: FNSACC408 Work effectively in the accounting and bookkeeping industry (superseding non-equivalent FNSBKG401 Develop and implement policies and procedures relevant to bookkeeping activities). Two units of competency deleted: FNSBKG402 Establish and maintain a cash accounting system FNSBKG403 Establish and maintain an accrual accounting system. Qualifications One qualification was reinstated and remains equivalent to FNS Financial Services Training Package version 1.1: FNS30415 Certificate III in Mercantile Agents. One qualification was updated and remains equivalent to FNS Financial Services Training Package version 2.0: FNS30215 Certificate III in Personal Injury Management (reinstatement of packaging rules, update to mapping information). Six qualifications were updated and remain equivalent to FNS Financial Services Training Package version 2.0, with upgrades to correct mapping errors in imported elective units lists: FNS30115 Certificate III in Financial Services FNS41815 Certificate IV Financial Services FNS42115 Certificate IV in Personal Injury Management FNS42215 Certificate IV in Personal Trust Administration FNS51915 Diploma of Personal Injury and Disability Insurance Management FNS50315 Diploma of Finance and Mortgage Broking Management. Skill sets No SSO upgrade to skill sets. • • •
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September 2016
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Version number
Release date
Comments Units of Competency No SSO upgrade to units of competency. Qualifications Two 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, to correct typographical errors: FNS30115 Certificate III in Financial Services FNS30215 Certificate III in Personal Injury Management FNS30315 Certificate III in Accounts Administration FNS30515 Certificate III in General Insurance FNS40715 Certificate IV in Financial Practice Support FNS50215 Diploma of Accounting FNS50315 Diploma of Finance and Mortgage Broking Management FNS50915 Diploma of Banking Services Management FNS51815 Diploma of Financial Services FNS60515 Advanced Diploma of Superannuation FNS60615 Advanced Diploma of Banking Services Management. 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. ISC upgrade to two skill sets, equivalent to FNS Financial Services Training Package version 1.1 qualifications, with
Version 2.0
January 2016
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Version number
Release date
Comments additional elective units to incorporate FNSSS00011 Postretirement skill set: FNS40915 Certificate IV in Superannuation FNS41815 Certificate IV in Financial Services. Skill sets Two new skill sets: FNSSS00010 Anti-money Laundering and Counter Terrorism Financing skill set FNSSS00011 Post-retirement skill set. ISC upgrade to two skill sets, equivalent to FNS Financial Services Training Package version 1.1 skill sets, to correct typographical errors: FNSSS00007 Financial literacy education skill set FNSSS00009 Tax law for tax agents skill set (tax plans). Units of competency 27 new units of competency: FNSAML801 Design an anti-money and counter terrorism financing program FNSAML802 Design and assess controls to monitor money-laundering and terrorism financing risk FNSAML803 Design and monitor a reporting system for suspicious transactions FNSAML804 Design customer due diligence policies and procedures FNSAML805 Manage assessment of organisational vulnerability to money laundering and terrorism financing FNSAML806 Implement an anti-money and counter terrorism financing program FNSINC801 Lead compliance with financial services legislation and industry codes of practice FNSINC802 Develop and build effective relationships with regulators and industry bodies FNSPIM416 Work effectively in the medical indemnity sector FNSPIM417 Analyse medical indemnity claims FNSPIM506 Promote the health benefits of returning to work FNSPIM507 Manage complex return to work cases FNSPIM508 Evaluate and improve return to work program within an organisation FNSPIM509 Comply with regulatory frameworks FNSPIM510 Implement informed decision making FNSPIM511 Facilitate setting and achievement of goals FNSPIM512 Negotiate settlements for medical indemnity claims FNSPRT504 Apply knowledge of the regulatory environment relevant to trustee organisations FNSPRT505 Develop and maintain knowledge of financial services and assets FNSPRT506 Develop understanding of traditional trustee services FNSPRT507 Apply principles of fiduciary duty, substituted decision making and ethical decision making • •
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Release date
Comments FNSPRT508 Administer a charitable trust FNSSUP409 Provide specialist retirement income stream information to clients FNSSUP411 Terminate retirement income streams FNSSUP412 Determine impact of social security entitlements on retirement income FNSSUP413 Apply knowledge of retirement planning issues when dealing with clients FNSSUP414 Develop and apply knowledge of aged care. Two units of competency removed: FNSPRT301 Establish entitlements to an intestate estate FNSPRT503 Assess, allocate and supervise work within the personal trustee sector. One unit of competency removed (listed on TGA in error): FNSPIM412 Participate in formal communication processes. Two units of competency updated and not equivalent to FNS Financial Services Training Package version 1.1 units of competency: FNSPRT407 Investigate and substantiate entitlement in an intestate estate FNSSUP410 Establish and administer retirement income streams. Industry Skills Council (ISC) upgrade to nine units of competency equivalent to FNS Financial Services Training Package version 1.1 units of competency: FNSPRT302 Administer a non-complex estate FNSPRT303 Administer a trust with non -complex matters FNSPRT402 Prepare a will FNSPRT403 Administer a complex estate FNSPRT404 Administer a trust dealing with complex matters FNSPRT405 Establish powers of attorney or financial administration orders FNSPRT406 Administer powers of attorney or financial administration orders FNSPRT501 Advise clients on trust structures FNSPRT502 Advise clients in estate planning. • •
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Version 1.1
April 2015
Industry Skills Council (ISC) upgrade to correct mapping and typographical errors. Qualifications ISC upgrade to all qualifications equivalent to FNS Financial Services Training Package version 1.0 qualifications. Skill sets No ISC upgrade to skill sets. Units of competency ISC upgrade to seven units of competency equivalent to FNS Financial Services Training Package version 1.0 units: FNSASICY503 Provide advice in insurance broking FNSBKG405 Establish and maintain a payroll system FNSIBK403 Place client insurances with insurer and confirm insurance cover with clients • • •
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Release date
Comments FNSIBK405 Meet industry and legislative guidelines and organisational procedures relating to insurance broking FNSIBK513 Prepare submission for new business FNSINC502 Assess financial products and services vulnerability to money laundering and counter terrorism financing FNSSUP406 Establish and maintain fund or plan. Primary release of restructured FNS Financial Services Training Package. This version of FNS Financial Services Training Package contains 46 qualifications and 366 FNS units that have been updated to meet the Standards for Training Packages. It includes eight new units of competency, 155 imported units and four new skill sets. Qualifications One qualification removed: FNS41611 Certificate IV in Loss Adjusting. Two qualifications moved to BSB Business Services Training Package: FNS50411 Diploma of Conveyancing FNS60311 Advanced Diploma of Conveyancing. Two qualifications based on merged qualifications: FNS41915 Certificate IV in Personal Injury Management FNS42015 Certificate IV in Banking Services. Thirteen qualifications updated and not equivalent to FNS10 Financial Services Training Package qualifications FNS30615 Certificate III in Insurance Broking FNS40615 Certificate IV in Accounting FNS41715 Certificate IV in Insurance Broking FNS41915 Certificate IV in Personal Injury Management FNS42015 Certificate IV in Banking Services FNS50115 Diploma of Personal Injury Management FNS50215 Diploma of Accounting FNS50815 Diploma of Integrated Risk Management FNS51215 Diploma of Insurance Broking FNS51415 Diploma of Loss Adjusting FNS51715 Diploma of Applied Anti-money Laundering and Counter Terrorism Financing Management FNS60115 Advanced Diploma of Insurance Broking FNS60215 Advanced Diploma of Accounting. Skill sets Four new skill sets FNSSS00005 Commercial law for tax agents skill set FNSSS00006 Commercial law for tax (financial) advisers skill set FNSSS00008 Tax law for tax agents skill set (tax documentation) FNSSS00009 Tax law for tax agents skill set (tax plans). Units of competency Eight new units of competency: FNSIBK406 Deliver professional insurance broking services FNSIBK608 Establish and maintain strategic networks and collaborative relationships •
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Release date
Comments FNSINC502 Assess financial products and services vulnerability to money laundering and terrorism financing FNSPIM504 Manage impairment benefit claims FNSPIM505 Use medical knowledge in the management of personal injury claims FNSTPB503 Apply legal principles in consumer and contract law FNSTPB506 Apply taxation requirements when providing tax (financial) advice services FNSTPB507 Apply legal principles in commercial law requirements when providing tax (financial) advice services. Three units of competency removed: FNSIBK301A Provide insurance broking services in response to a customer enquiry FNSIGN405A Inspect vehicle systems and components and determine preferred repair action FNSPIM412A Participate in formal communication processes. All units of competency re-coded and restructured to meet the Standards for Training Packages. •
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Appendix 1 List of qualifications, skill sets and units of competency
Qualifications in the FNS Financial Services Training Package version 3.0 Skill sets in the FNS Financial Services Training Package version 3.0 Units of competency in the FNS Financial Services Training Package version 3.0
Qualifications in the FNS Financial Services Training Package version 3.0 Qualification code FNS10115 FNS20115 FNS30115 FNS30215 FNS30317 FNS30415 FNS30515 FNS30615 FNS40115 FNS40217 FNS40715 FNS40815 FNS40915 FNS41115 FNS41415 FNS41515 FNS41715 FNS41815 FNS42015 FNS42115 FNS42215 FNS50217 FNS50315 FNS50417 FNS50615 FNS50715 FNS50815 FNS50915 FNS51015
Qualification title Certificate I in Financial Services Certificate II in Financial Services Certificate III in Financial Services Certificate III in Personal Injury Management Certificate III in Accounts Administration Certificate III in Mercantile Agents Certificate III in General Insurance Certificate III in Insurance Broking Certificate IV in Credit Management Certificate IV in Accounting and Bookkeeping Certificate IV in Financial Practice Support Certificate IV in Finance and Mortgage Broking Certificate IV in Superannuation Certificate IV in Financial Markets Operations Certificate IV in General Insurance Certificate IV in Life Insurance Certificate IV in Insurance Broking Certificate IV in Financial Services Certificate IV in Banking Services Certificate IV in Personal Injury Management Certificate IV in Personal Trust Administration Diploma of Accounting Diploma of Finance and Mortgage Broking Management Diploma of Payroll Services Diploma of Financial Planning Diploma of Superannuation Diploma of Integrated Risk Management Diploma of Banking Services Management Diploma of Financial Markets 11
Qualification code FNS51115 FNS51215 FNS51315 FNS51415 FNS51515 FNS51615 FNS51815 FNS51915 FNS52015 FNS60115 FNS60217 FNS60415 FNS60515 FNS60615 FNS60715 FNS60815 FNS80115
Qualification title Diploma of General Insurance Diploma of Insurance Broking Diploma of Life Insurance Diploma of Loss Adjusting Diploma of Credit Management Diploma of Securitisation Diploma of Financial Services Diploma of Personal Injury and Disability Insurance Management Diploma of Personal Trusts Advanced Diploma of Insurance Broking Advanced Diploma of Accounting Advanced Diploma of Financial Planning Advanced Diploma of Superannuation Advanced Diploma of Banking Services Management Advanced Diploma of Financial Licensing Management Advanced Diploma of Integrated Risk Management Graduate Diploma of Anti-money Laundering and Counter Terrorism Financing
Skill sets in the FNS Financial Services Training Package version 3.0 Skill set code FNSSS00004 FNSSS00005 FNSSS00006 FNSSS00007 FNSSS00008 FNSSS00009 FNSSS00010 FNSSS00011 FNSSS00012 FNSSS00013 FNSSS00014 FNSSS00015
Skill set title BAS Agent Registration Skill Set Commercial Law for Tax Agents Skill Set Commercial Law for Tax (Financial) Advisers Skill Set Financial Literacy Education Skill Set Tax Law for Tax Agents Skill Set (Tax documentation) Tax Law for Tax Agents Skill Set (Tax plans) Anti-money Laundering and Counter Terrorism Financing Skill Set Post-retirement Skill Set Payroll Administrator Skill Set Business Ethics and Conduct Skill Set Accounting Principles Skill Set Advanced Accounting Principles Skill Set
Units of competency in the FNS Financial Services Training Package version 3.0 Unit code FNSACC304 FNSACC311 FNSACC312 FNSACC313 FNSACC405 FNSACC407 FNSACC408
Unit title Conduct business activities using a computerised accounting system Process financial transactions and extract interim reports Administer subsidiary accounts and ledgers Perform financial calculations Maintain inventory records Produce job costing information Work effectively in the accounting and bookkeeping industry 12
Unit code FNSACC411 FNSACC412 FNSACC413 FNSACC414 FNSACC416 FNSACC505 FNSACC511 FNSACC512 FNSACC513 FNSACC514 FNSACC516 FNSACC517 FNSACC601 FNSACC602 FNSACC603 FNSACC605 FNSACC606 FNSACC607 FNSACC608 FNSACC609 FNSACC610 FNSACC611 FNSACC612 FNSACC613 FNSACC614 FNSACC624 FNSACM301 FNSACM302 FNSACM303 FNSACM401 FNSAML801 FNSAML802 FNSAML803 FNSAML804 FNSAML805 FNSAML806 FNSASIC301 FNSASIC302 FNSASIC303 FNSASIC304 FNSASIC305 FNSASICL503 FNSASICM503 FNSASICN503 FNSASICO503 FNSASICQ503 FNSASICR503 FNSASICS503 FNSASICT503 FNSASICU503
Unit title Process business tax requirements Prepare operational budgets Make decisions in a legal context Prepare financial statements for non-reporting entities Set up and operate a computerised accounting system Establish and maintain accounting information systems Provide financial and business performance information Prepare tax documentation for individuals Manage budgets and forecasts Prepare financial reports for corporate entities Implement and maintain internal control procedures Provide management accounting information Prepare and administer tax documentation for legal entities Audit and report on financial systems and records Implement tax plans and evaluate tax obligations Implement organisational improvement programs Conduct internal audit Evaluate business performance Evaluate organisation’s financial performance Evaluate financial risk Develop and implement financial strategies Implement an insolvency program Implement reconstruction plan Prepare and analyse management accounting information Prepare complex corporate financial reports Monitor corporate governance activities Administer financial accounts Prepare, match and process receipts Process payment documentation Evaluate and authorise payment requests Design an anti-money and counter terrorism financing program Design and assess controls to monitor money-laundering and terrorism financing risk Design and monitor a reporting system for suspicious transactions Design customer due diligence policies and procedures Manage assessment of organisational vulnerability to money laundering and terrorism financing Implement an anti-money and counter terrorism financing program Establish client relationship and analyse needs Develop, present and negotiate client solutions Provide advice on first home saver account deposit products and non-cash payments Provide Tier 2 general advice in general insurance Provide Tier 2 personal advice in general insurance Provide advice in the regulated emissions market Provide Tier 1 personal advice in life insurance Provide Tier 1 personal advice in general insurance Provide Tier 1 general advice in general insurance Provide advice in first home saver market linked accounts Provide advice in margin lending Provide advice in foreign exchange Provide advice in managed investments Provide advice in superannuation 13
Unit code FNSASICV503 FNSASICW503 FNSASICX503 FNSASICY503 FNSASICZ503 FNSBNK401 FNSBNK402 FNSBNK403 FNSBNK404 FNSBNK405 FNSBNK406 FNSBNK501 FNSBNK502 FNSBNK503 FNSCMP501 FNSCRD301 FNSCRD302 FNSCRD401 FNSCRD402 FNSCRD403 FNSCRD404 FNSCRD405 FNSCRD501 FNSCRD502 FNSCRD503 FNSCRD504 FNSCRD505 FNSCUS301 FNSCUS401 FNSCUS402 FNSCUS403 FNSCUS501 FNSCUS502 FNSCUS503 FNSCUS504 FNSCUS505 FNSCUS506 FNSCUS601 FNSFLT201 FNSFLT202 FNSFLT203 FNSFLT204 FNSFLT205 FNSFLT206 FNSFLT301 FNSFLT401 FNSFLT501 FNSFLT502 FNSFLT503 FNSFLT504
Unit title Provide advice in derivatives Provide advice in securities Provide advice in life insurance Provide advice in insurance broking Provide advice in financial planning Coordinate a small business customer portfolio Align banking products with the needs of small business customers Provide services in a Business Transaction Centre Promote mobile banking services Provide mobile banking sales and service Manage customer visits Manage banking and service strategy for small business customers Manage services in a Business Transaction Centre Provide business advisory services within a financial services context Comply with financial services legislation Process applications for credit Monitor and control accounts receivable Assess credit applications Establish and maintain appropriate security Manage and recover bad and doubtful debts Utilise the legal process to recover outstanding debt Manage overdue customer accounts Respond to personal insolvency situations Manage factoring and invoice discounting arrangements Promote understanding of the role and effective use of consumer credit Manage the credit relationship Respond to corporate insolvency situations Respond to customer enquiries Participate in negotiations Resolve disputes Deliver a professional service to customers Develop and nurture relationships with clients, other professionals and third-party referrers Monitor client requirements Review business performance Manage premium customer relationships Determine client requirements and expectations Record and implement client instructions Establish, manage and monitor key relationships Develop and use a personal budget Develop and use a savings plan Develop knowledge of debt and consumer credit Develop knowledge of superannuation Develop knowledge of the Australian financial system and markets Develop knowledge of taxation Be MoneySmart Be MoneySmart through a career in Small Business Assist customers to budget and manage own finances Facilitate customer awareness of the Australian financial system and markets Promote basic financial literacy skills Facilitate customer understanding of personal financial statements
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Unit code FNSFLT505 FNSFMB401 FNSFMB402 FNSFMB403 FNSFMB501 FNSFMB502 FNSFMB503 FNSFMB504 FNSFMK401 FNSFMK402 FNSFMK403 FNSFMK501 FNSFMK502 FNSFMK503 FNSFMK504 FNSFMK505 FNSFMK506 FNSFMK507 FNSFMK508 FNSFMK509 FNSFMK510 FNSFMK511 FNSFMK512 FNSFMK601 FNSFMK602 FNSFPL401 FNSFPL402 FNSFPL403 FNSFPL501 FNSFPL502 FNSFPL503 FNSFPL504 FNSFPL505 FNSFPL506 FNSFPL507 FNSFPL508 FNSFPL601 FNSFPL602 FNSFPL603 FNSFPL604 FNSFPL605 FNSFPL606 FNSIAD301 FNSIAD501 FNSIAD502 FNSIBK302 FNSIBK401 FNSIBK402 FNSIBK403 FNSIBK404
Unit title Facilitate customer or employee understanding of superannuation as an investment tool Prepare loan application on behalf of finance or mortgage broking clients Identify client needs for broking services Present broking options to client Settle applications and loan arrangements in the finance and mortgage broking industry Identify and develop broking options for clients with complex needs Present broking options to client with complex needs Implement complex loan structures Reconcile financial transactions Develop and maintain knowledge of financial markets products Interpret financial markets information Analyse financial markets and information Analyse financial market products for client Advise clients on financial risk Complete confirmation and settlement processes Comply with financial services legislation and industry codes of practice Detect errors and fraud when processing financial transactions Analyse risk mitigation in the operation process Monitor and process collateral Process transaction documentation Prepare trading strategies for clients Apply limits when trading Apply knowledge of emissions markets Price financial transactions Hedge financial products Extract and analyse information on specified financial strategies and products Prepare financial plans to set strategies and guidelines Implement financial plans to predetermined guidelines Comply with financial planning practice ethical and operational guidelines and regulations Conduct financial planning analysis and research Develop and prepare financial plan Implement financial plan Review financial plans and provide ongoing service Determine client financial requirements and expectations Provide financial planning advice Conduct complex financial planning research Provide technical and professional guidance Determine client requirements and expectations for clients with complex needs Provide comprehensive monitoring and ongoing service Develop complex and innovative financial planning strategies Present and negotiate complex and innovative financial plans Implement complex and innovative financial plan Provide general advice on financial products and services Provide appropriate services, advice and products to clients Provide appropriate and timely information and advice to clients Provide general advice in general insurance broking products and services Research, analyse and report information in insurance broking Implement new or renewed insurance program for insurance broking clients Place client insurances with insurer and confirm insurance cover with clients Provide a claims service to an insurance broking client 15
Unit code FNSIBK405 FNSIBK406 FNSIBK507 FNSIBK508 FNSIBK512 FNSIBK513 FNSIBK514 FNSIBK515 FNSIBK601 FNSIBK602 FNSIBK603 FNSIBK604 FNSIBK606 FNSIBK607 FNSIBK608 FNSIGN401 FNSIGN402 FNSIGN403 FNSIGN404 FNSIGN406 FNSILA501 FNSILA502 FNSILA503 FNSILA504 FNSILA505 FNSILD501 FNSILD502 FNSILD503 FNSILD504 FNSILF302 FNSILF303 FNSILF401 FNSILF402 FNSILF403 FNSILF404 FNSILF405 FNSILF406 FNSILF407 FNSILF408 FNSILF501 FNSILF502 FNSILF503 FNSILF504 FNSILF505 FNSILF506 FNSILF507 FNSINC301 FNSINC401 FNSINC402 FNSINC501
Unit title Meet industry and legislative guidelines and organisational procedures relating to insurance broking Deliver professional insurance broking services Review service performance Implement changes to broking client’s insurance program Negotiate complex claims settlement for insurance broking client Prepare submission for new business Manage complex risk portfolio for a broking client Monitor broking client requirements and establish loss control programs Develop guidelines for broking services Manage implementation of broking service support systems Manage contractual, legislative and code of practice obligations and requirements Manage a sales plan for insurance broking services Manage compliance requirements for an insurance broking business Lead ethical work practices in an insurance brokerage Establish and maintain strategic networks and collaborative relationships Provide technical guidance Inspect quality of work Estimate jobs Inspect damage and develop scope of work Inspect property for saleable items and determine their value Plan and implement loss investigation Evaluate collected information Report findings and provide guidance to involved parties Negotiate and effect settlement Provide ancillary services Prepare a distribution plan Resource a distribution plan Establish services to provide advice Implement and manage the distribution plan Process a life insurance application Issue a life insurance policy Contribute to the life risk underwriting process Settle policy payments and terminations Develop and maintain in-depth knowledge of products and services used by the life insurance sector Process requests for policy alterations and assignments Evaluate life insurance claims Collect and manage information to facilitate claims assessment Settle life insurance claims Process life insurance contract maturity and surrender payment requests Assess extraordinary risks Underwrite complex medical life risks Underwrite complex non-medical risks Manage complex life insurance claims Manage ongoing disability claims Manage group life insurance claims Manage group life insurance policy administration Work effectively in the financial services industry Apply principles of professional practice to work in the financial services industry Develop and maintain in-depth knowledge of products and services used by an organisation or sector Conduct product research to support recommendations 16
Unit code FNSINC502 FNSINC503 FNSINC504 FNSINC601 FNSINC602 FNSINC801 FNSINC802 FNSISV301 FNSISV302 FNSISV303 FNSISV304 FNSISV305 FNSISV306 FNSISV307 FNSISV308 FNSISV309 FNSISV310 FNSISV401 FNSISV402 FNSISV403 FNSISV404 FNSISV405 FNSISV406 FNSISV407 FNSISV501 FNSISV502 FNSISV503 FNSISV504 FNSISV505 FNSISV506 FNSISV507 FNSISV508 FNSISV509 FNSISV510 FNSISV511 FNSISV512 FNSISV513 FNSISV514 FNSISV515 FNSISV516 FNSISV517 FNSMCA301 FNSMCA302 FNSMCA303 FNSMCA304 FNSMCA401 FNSMCA402 FNSORG301 FNSORG401 FNSORG501 FNSORG502 FNSORG503
Unit title Assess financial products and services vulnerability to money laundering and terrorism financing Identify situations requiring complex ethical decision making Apply ethical frameworks and principles to make and act on decisions Apply economic principles to work in the financial services industry Interpret and use financial statistics and tools Lead compliance with financial services legislation and industry codes of practice Develop and build effective relationships with regulators and industry bodies Evaluate risk for renewal business Process alteration to insurance policy Issue contract of insurance Issue insurance renewal advice Issue insurance cancellation advice Receive and record or register a claim Follow organisation procedures to process claim Process facultative and treaty reinsurance claim Settle claims Process insurance claims payments Evaluate risk for new business Underwrite new business Survey potential risk exposure Underwrite renewal business Analyse insurance claims Use specialist terminology in insurance claims Use medical terminology in an insurance context Issue contracts of insurance covering non-routine and complex situations Review operational performance of the portfolio Undertake post-loss risk management Negotiate treaty reinsurance Determine risk rating for investment and insurance products Investigate insurance claims Implement claim recovery procedures Review and advise on claims costs, policies and procedures Analyse financial, medical and psychological claims assessments Manage non-routine and complex claims Settle non-routine and complex claims Work with legal teams to resolve complex claims Provide decisions on legal liability and indemnity of a claim Review and update claim reserves in portfolio Evaluate and report on status of claims portfolio Allocate authorities and guidelines for distribution Review claims settlement policies and procedures Collect debts Repossess property Serve legal process Locate subjects Develop and document case recommendations Initiate legal recovery of debts Administer fixed asset register Conduct individual work within a compliance framework Develop and manage a budget Develop and monitor policy and procedures Develop a resource plan 17
Unit code FNSORG504 FNSORG505 FNSORG506 FNSORG507 FNSORG508 FNSORG601 FNSORG602 FNSORG603 FNSORG604 FNSPAY501 FNSPAY502 FNSPAY503 FNSPAY504 FNSPAY505 FNSPIM301 FNSPIM302 FNSPIM303 FNSPIM304 FNSPIM401 FNSPIM403 FNSPIM404 FNSPIM405 FNSPIM406 FNSPIM407 FNSPIM408 FNSPIM409 FNSPIM410 FNSPIM412 FNSPIM413 FNSPIM414 FNSPIM415 FNSPIM416 FNSPIM417 FNSPIM501 FNSPIM502 FNSPIM503 FNSPIM504 FNSPIM505 FNSPIM506 FNSPIM507 FNSPIM508 FNSPIM509 FNSPIM510 FNSPIM511 FNSPIM512 FNSPRM601 FNSPRM602 FNSPRM603 FNSPRM604 FNSPRM605
Unit title Monitor and supervise work practices to meet financial services regulatory requirements Prepare financial reports to meet statutory requirements Prepare financial forecasts and projections Manage client service and business information Analyse and comment on management reports Negotiate to achieve goals and manage disputes Develop and manage financial systems Establish and prepare operational guidelines in a financial services organisation Establish outsourced services and monitor performance Process salary packaging arrangements and additional allowances in payroll Process superannuation payments in payroll Process complex employee terminations in payroll Interpret and apply knowledge of industrial regulations relevant to payroll Interpret and apply knowledge of taxation systems relevant to payroll Process benefit payments Determine claim liability Work within the personal injury management sector Assess and determine ongoing entitlements Plan and implement rehabilitation and return to work and health strategies Educate clients on personal injury management issues Assist clients with job placement Facilitate a return to work Develop and maintain knowledge of personal injury management insurance Register policy Renew and maintain policy Maintain customer relationship Collect, assess and use information Participate in formal communication processes Assist with preparations for conciliation and review hearings Manage personal injury claims Manage personal injury case loads Work effectively in the medical indemnity sector Analyse medical indemnity claims Develop a return to work or injury management strategy Facilitate workplace assessment with stakeholders for personal injury cases Represent personal injury management agent or insurer at reconciliation and review hearings Manage impairment benefit claims Use medical knowledge in the management of personal injury claims Promote the health benefits of returning to work Manage complex return to work cases Evaluate and improve return to work program within an organisation Comply with regulatory frameworks Implement informed decision making Facilitate setting and achievement of goals Negotiate settlements for medical indemnity claims Establish, supervise and monitor practice systems to conform with legislation and regulations Improve the practice Grow the practice Prepare, supervise and monitor application of practice guidelines Establish or review marketing, client services and supplier relationships 18
Unit code FNSPRM606 FNSPRT301 FNSPRT302 FNSPRT303 FNSPRT402 FNSPRT403 FNSPRT404 FNSPRT405 FNSPRT406 FNSPRT407 FNSPRT501 FNSPRT502 FNSPRT503 FNSPRT504 FNSPRT505 FNSPRT506 FNSPRT507 FNSPRT508 FNSRSK401 FNSRSK501 FNSRSK502 FNSRSK601 FNSRSK602 FNSRTS301 FNSRTS302 FNSRTS303 FNSRTS304 FNSRTS305 FNSRTS306 FNSRTS307 FNSRTS308 FNSRTS309 FNSRTS401 FNSRTS402 FNSSAM301 FNSSAM401 FNSSAM402 FNSSAM403 FNSSAM501 FNSSAM502 FNSSAM503 FNSSAM601 FNSSAM602 FNSSAM603 FNSSAM604 FNSSMS401 FNSSMS501 FNSSMS502 FNSSMS503 FNSSMS504 FNSSMS505 FNSSMS601
Unit title Establish or review human resources, administration and information support Establish entitlements to an intestate estate Administer a non-complex estate Administer a trust with non-complex matters Prepare a will Administer a complex estate Administer a trust dealing with complex matters Establish powers of attorney or financial administration orders Administer powers of attorney or financial administration orders Investigate and substantiate entitlement in an intestate estate Advise clients on trust structures Advise clients in estate planning Assess, allocate and supervise work within the personal trustee sector Apply knowledge of the regulatory environment relevant to trustee organisations Develop and maintain knowledge of financial services and assets Develop understanding of traditional trustee services Apply principles of fiduciary duty, substituted decision making and ethical decision making Administer a charitable trust Implement risk management strategies Undertake risk identification Assess risks Develop and implement risk mitigation plan Determine and manage risk exposure strategies Provide customer service in a retail agency Handle foreign currency transactions Balance retail transactions Administer debit card services Process customer accounts Process customer transactions Maintain Automatic Teller Machine (ATM) services Balance cash holdings Maintain main bank account Manage credit card services Prepare government returns and reports Identify opportunities for cross-selling products and services Sell financial products and services Implement a sales plan Prospect for new clients Apply advanced selling techniques to selling of financial products and services Assess market opportunities Monitor market opportunities Monitor performance in sales of financial products or services Identify and evaluate marketing opportunities in the financial services industry Tailor financial products to meet customer needs Establish agreements with intermediaries for product distribution Process self-managed superannuation contribution Invest self-managed superannuation funds assets Manage changes to fund structure Manage administration activities of a superannuation fund Meet self-managed superannuation funds compliance requirements Support trustee in the selection and performance monitoring outsourced services Provide advice in self-managed superannuation funds 19
Unit code FNSSMS602 FNSSMS603 FNSSUP301 FNSSUP302 FNSSUP303 FNSSUP304 FNSSUP305 FNSSUP306 FNSSUP401 FNSSUP402 FNSSUP404 FNSSUP406 FNSSUP407 FNSSUP408 FNSSUP409 FNSSUP410 FNSSUP411 FNSSUP412 FNSSUP413 FNSSUP414 FNSSUP501 FNSSUP502 FNSSUP503 FNSSUP504 FNSSUP505 FNSSUP506 FNSSUP507 FNSSUP508 FNSSUP509 FNSSUP510 FNSSUP601 FNSSUP602 FNSSUP603 FNSTPB401 FNSTPB402 FNSTPB503 FNSTPB504 FNSTPB505 FNSTPB506 FNSTPB507
Unit title Consider taxation requirements when advising in self-managed superannuation funds Apply legislative and operational requirements to advising in self-managed superannuation funds Process superannuation fund payments Establish, maintain and process superannuation records Process superannuation contributions Process superannuation rollover benefits Implement member investment instructions Terminate superannuation plans Process complex superannuation benefit or insurance claim Assist in meeting superannuation compliance requirements Establish and customise employer accounts Establish and maintain fund or plan Assess complex superannuation benefit or insurance claim Participate in fund review practices Provide specialist retirement income stream information to clients Establish and administer retirement income streams Terminate retirement income streams Determine impact of social security entitlements on retirement income Apply knowledge of retirement planning issues when dealing with clients Develop and apply knowledge of aged care Supervise complaints procedures Supervise insurer liaison Develop client relationships with employers and establish superannuation systems Provide advanced customer service to superannuation clients Produce reports for superannuation Supervise and monitor operational guidelines in a superannuation organisation Review compliance with regulatory and contractual requirements Provide effective information to members Work within a defined benefit fund Supervise insurance tender process Liaise with and support trustees Manage official complaints procedures and proceedings Integrate investment strategy with fund operations Complete business activity and instalment activity statements Establish and maintain payroll systems Apply legal principles in consumer and contract law Apply legal principles in corporations and trust law Apply legal principles in property law Apply taxation requirements when providing tax (financial) advice services Apply legal principles in commercial law when providing tax (financial) advice services
Units of competency with prerequisite unit requirements Unit code and title FNSACC514 Prepare financial reports for corporate entities
Prerequisite unit code and title BSBFIA401 Prepare financial reports FNSACC311 Process financial transactions and extract interim reports
20
Unit code and title FNSACC601 Prepare and administer tax documentation for legal entities FNSACC602 Audit and report on financial systems and records FNSACC603 Implement tax plans and evaluate tax obligations FNSACC606 Conduct internal audit FNSACC607 Evaluate business performance FNSACC608 Evaluate organisation’s financial performance FNSACC609 Evaluate financial risk FNSACC610 Develop and implement financial strategies FNSACC613 Prepare and analyse management accounting information FNSACC614 Prepare complex corporate financial reports FNSASIC303 Provide advice on first home saver account deposit products and non-cash payments
FNSASICL503 Provide advice in the regulated emissions market
FNSASICQ503 Provide advice in first home saver market linked accounts
FNSASICR503 Provide advice in margin lending
FNSAISCS503 Provide advice in foreign exchange
Prerequisite unit code and title FNSACC512 Prepare tax documentation for individuals FNSACC516 Implement and maintain internal control procedures FNSACC512 Prepare tax documentation for individuals FNSACC516 Implement and maintain internal control procedures FNSACC511 Provide financial and business performance information FNSACC511 Provide financial and business performance information FNSACC511 Provide financial and business performance information FNSACC511 Provide financial and business performance information FNSACC517 Provide management accounting information FNSACC514 Prepare financial reports for corporate entities FNSASIC301 Establish client relationship and analyse needs FNSASIC302 Develop, present and negotiate client solutions FNSFMK501 Analyse financial markets and information FNSFMK502 Analyse financial market products for client FNSFMK503 Advise clients on financial risk FNSFMK512 Apply knowledge of the emissions market FNSINC501 Conduct product research to support recommendations FNSIAD501 Provide appropriate services, advice and products to clients FNSCUS505 Determine client requirements and expectations FNSCUS506 Record and implement client instructions FNSINC501 Conduct product research to support recommendations FNSIAD501 Provide appropriate services, advice and products to clients FNSCUS505 Determine client requirements and expectations FNSCUS506 Record and implement client instructions FNSINC501 Conduct product research to support recommendations FNSIAD501 Provide appropriate services, advice and products to clients FNSCUS505 Determine client requirements and expectations FNSCUS506 Record and implement client instructions 21
Unit code and title FNSASICT503 Provide advice in managed investments
FNSASICU503 Provide advice in superannuation
FNSASICV503 Provide advice in derivatives
FNSASICW503 Provide advice in securities
FNSASICX503 Provide advice in life insurance
FNSASICY503 Provide advice in insurance broking
FNSASICZ503 Provide advice in financial planning
FNSCRD505 Respond to corporate insolvency situations
Prerequisite unit code and title FNSINC501 Conduct product research to support recommendations FNSIAD501 Provide appropriate services, advice and products to clients FNSCUS505 Determine client requirements and expectations FNSCUS506 Record and implement client instructions FNSINC501 Conduct product research to support recommendations FNSIAD501 Provide appropriate services, ad vices and products to clients FNSCUS505 Determine client requirements and expectations FNSCUS506 Record and implement client instructions FNSFMK502 Analyse financial market products for client FNSFMK503 Advise clients on financial risk FNSCUS505 Determine client requirements and expectations FNSCUS506 Record and implement client instructions FNSFMK502 Analyse financial market products for client FNSFMK503 Advise clients on financial risk FNSCUS505 Determine client requirements and expectations FNSCUS506 Record and implement client instructions FNSINC501 Conduct product research to support recommendations FNSIAD501 Provide appropriate services, advice and products to clients FNSCUS505 Determine client requirements and expectations FNSCUS506 Record and implement client instructions FNSIBK406 Deliver professional insurance broking services FNSIBK508 Implement changes to broking client’s insurance program FNSIBK513 Prepare submission for new business FNSFPL501 Comply with financial planning practice ethical and operational guidelines and regulations FNSFPL502 Conduct financial planning analysis and research FNSFPL503 Develop and prepare financial plan FNSFPL504 Implement financial plan FNSFPL505 Review financial plans and provide ongoing service FNSCRD501 Respond to personal insolvency Situations
22
Imported units of competency A range of units of competency have been imported into the FNS Financial Services Training Package to provide greater flexibility, choice and transferability of skills within the industry. Imported unit code BSBADM311
Imported unit title Maintain business resources
BSBADM405
Organise meetings
BSBADM502
Manage meetings
BSBCMM301
Process customer complaints
BSBCMM401
Make a presentation
BSBCNV501
Take instructions in relation to a transaction Read and interpret a legal document and provide advice Analyse and interpret legal requirements for a transaction Establish and manage a trust account
BSBCNV502 BSBCNV503 BSBCNV506 BSBCOM401 BSBCOM402 BSBCOM405 BSBCOM406
Organise and monitor the operation of compliance management system Implement processes for the management of a breach in compliance requirements Promote compliance with legislation
BSBCUE203
Conduct work within a compliance framework Identify and interpret compliance requirements Develop processes for the management of breaches in compliance requirements Develop and create compliance requirements Plan and establish compliance management systems Conduct customer engagement
BSBCUE301
Use multiple information systems
BSBCUE303
Conduct a telemarketing campaign
BSBCUE304
Provide sales solutions to customers
BSBCUE307
Work effectively in customer engagement
BSBCUE309
Develop product and service knowledge for customer engagement operation Collect, analyse and record information
BSBCOM501 BSBCOM503 BSBCOM602 BSBCOM603
BSBCUE404
Origin BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package 23
Imported unit code BSBCUE405 BSBCUE407 BSBCUE504 BSBCUS301 BSBCUS401
Imported unit title Survey stakeholders to gather and record information Administer customer engagement technology Integrate customer engagement within the organisation Deliver and monitor a service to customers
BSBCUS402
Coordinate implementation of customer service strategies Address customer needs
BSBCUS403
Implement customer service standards
BSBCUS501
Manage quality customer service
BSBFIA301
Maintain financial records
BSBFIA302
Process payroll
BSBFIA304
Maintain a general ledger
BSBFIA401
Prepare financial reports
BSBFIM501
Manage budgets and financial plans
BSBFIM502
Manage payroll
BSBFLM303
Contribute to effective workplace relationships Support operational plan
BSBFLM305 BSBFLM309 BSBFRA301
Support continuous improvement systems and processes Work within a franchise
BSBFRA403
Manage relationship with franchisor
BSBGOV403
Analyse financial reports and budgets
BSBHRM501
Manage human resource services
BSBHRM505
BSBHRM507
Manage remuneration and employee benefits Manage recruitment selection and induction processes Manage separation or termination
BSBHRM604
Manage employee relations
BSBINM302
Utilise a knowledge management system
BSBINM401
Implement workplace information system
BSBHRM506
Origin BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package 24
Imported unit code BSBINM501 BSBINM601
Imported unit title Manage an information or knowledge management system Manage knowledge and information
BSBINN301
Promote innovation in a team environment
BSBINN501
Establish systems that support innovation
BSBINN502
Build and sustain an innovative work environment Lead and manage organisational change
BSBINN601 BSBITB501 BSBITS401
Establish and maintain a workgroup computer network Maintain business technology
BSBITU304
Produce spreadsheets
BSBITU305
Conduct online transactions
BSBITU306
Design and produce business documents
BSBITU402
Develop and use complex spreadsheets
BSBLDR402
Lead effective workplace relationships
BSBLDR403
Lead team effectiveness
BSBLDR501
Develop and use emotional intelligence
BSBLDR502
Lead and manage effective workplace relationships Develop and cultivate collaborative partnerships and relationships Maintain and enhance professional practice
BSBLDR803 BSBLED503 BSBLEG301 BSBLEG413
Apply knowledge of the legal system to complete tasks Identify and apply the legal framework
BSBLEG415
Apply the principles of contract law
BSBLEG513 BSBMGT401
Apply legal principles in corporations law matters Show leadership in the workplace
BSBMGT402
Implement operational plan
BSBMGT403
Implement continuous improvement
BSBMGT405
Provide personal leadership
BSBMGT502
Manage people performance
Origin BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package 25
Imported unit code BSBMGT516
Imported unit title Facilitate continuous improvement
BSBMGT517
Manage operational plan
BSBMGT605
Provide leadership across the organisation
BSBMGT608 BSBMGT615
Manage innovation and continuous improvement Contribute to organisation development
BSBMGT616
Develop and implement strategic plans
BSBMGT617
Develop and implement a business plan
BSBMGT802
BSBPMG412
Lead design and review of enterprise systems Identify and evaluate marketing opportunities Apply project quality-management techniques Apply project cost-management techniques
BSBPMG415
Apply project risk-management techniques
BSBPMG517
Manage project risk
BSBPMG521
Manage project integration
BSBPMG522
Undertake project work
BSBPMG803
Manage and review portfolio performance
BSBPMG805
Lead the portfolio
BSBPMG806
Manage portfolio communications and change Manage portfolio risk
BSBMKG501 BSBPMG411
BSBPMG808 BSBREL402 BSBRES401
Build client relationships and business networks Analyse and present research information
BSBRKG303
Retrieve information from records
BSBRKG304
Maintain business records
BSBRKG404
BSBRSK501
Monitor and maintain records in an online environment Identify risk and apply risk management processes Manage risk
BSBSLS501
Develop a sales plan
BSBRSK401
Origin BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package 26
Imported unit code BSBSLS502
Imported unit title Lead and manage a sales team
BSBSMB401
Establish legal and risk management requirements of small business Plan small business finances
BSBSMB402 BSBSMB405 BSBSMB407 BSBSMB409 BSBSMB411 BSBSMB412 BSBSUS401 BSBSUS501 BSBWHS201 BSBWHS303 BSBWHS404 BSBWHS503 BSBWHS504 BSBWHS507 BSBWHS508 BSBWHS510 BSBWHS603 BSBWHS604
Monitor and manage small business operations Manage a small team Build and maintain relationships with small business stakeholders Manage specialist external advisory services Introduce cloud computing into business operations Implement and monitor environmentally sustainable work practices Develop workplace policy and procedures for sustainability Contribute to health and safety of self and others Participate in WHS hazard identification, risk assessment and risk control Contribute to WHS hazard identification, risk assessment and risk control Contribute to the systematic management WHS risk Manage WHS risks Contribute to managing WHS information systems Manage WHS hazards associated with plant Contribute to implementing emergency procedures Implement WHS risk management
BSBWHS606
Evaluate the WHS performance of organisations Develop, implement and maintain WHS management systems Conduct a WHS audit
BSBWHS607
Apply ergonomics to manage WHS risks
BSBWHS608
BSBWOR203
Assist with applying occupational hygiene manage WHS risks Advise on the application of safe design principles to control WHS risks Work effectively with others
BSBWOR204
Use business technology
BSBWHS605
BSBWHS609
Origin BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package 27
Imported unit code BSBWOR301 BSBWOR404 BSBWOR501
Imported unit title Organise personal work priorities and development Develop work priorities
BSBWOR502
Manage personal work priorities and professional development Lead and manage team effectiveness
BSBWRT301
Write simple documents
CHCCCS025
CHCCOM002
Support relationships with carers and families Provide client-centred support to people in crisis Use communication to build relationships
CHCCSM004
Coordinate complex case requirements
CHCCSM006
Provide case management supervision
CHCDIS004 CHCDIV001
Communicate using augmentative and alternative communication strategies Work with diverse people
MSMSUP390
Use structured problem-solving tools
PSPGEN036
Provide workplace coaching
PSPGEN051
Conduct evaluations
PSPGEN053
Provide leadership
PSPGOV516A
Develop and use emotional intelligence
PSPINM003 PSPINM005
Undertake initial rehabilitation assessments Conduct situational workplace assessments
PSPINM006
Develop return to work plans
PSPINM007
Implement and monitor return to work plans Contribute to a quality injury management system Plan, organise and facilitate learning in the workplace Mentor in the workplace
CHCCCS028
PSPINM014 TAEDEL402 TAEDEL404
Origin BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package BSB Business Services Training Package CHC Community Services Training Package CHC Community Services Training Package CHC Community Services Training Package MSM Manufacturing Training Package PSP12 Public Sector Training Package PSP12 Public Sector Training Package PSP12 Public Sector Training Package PSP12 Public Sector Training Package PSP12 Public Sector Training Package PSP12 Public Sector Training Package PSP12 Public Sector Training Package PSP12 Public Sector Training Package PSP12 Public Sector Training Package TAE Training and Education Training Package TAE Training and Education Training Package
28
Appendix 2 Mapping information The information provided is a general summary only. PwC’s Skills for Australia recommends using the Compare Content Tool available on the training.gov.au (TGA) website for more information about specific changes.
Qualification mapping Mapping from FNS Financial Services Training Package version 2.1 to FNS Financial Services Training Package version 3.0. Qualification code and title FNS Financial Services version 2.1 FNS30315 Certificate III in Accounts Administration
Qualification code and title FNS Financial Services version 3.0 FNS30317 Certificate III in Accounts Administration
FNS40215 Certificate IV in Bookkeeping FNS40615 Certificate IV in Accounting
FNS40217 Certificate IV in Accounting and Bookkeeping
FNS50215 Diploma of Accounting
FNS50217 Diploma of Accounting
No previous qualification FNS60215 Advanced Diploma of Accounting
FNS50417 Diploma of Payroll Services FNS60217 Advanced Diploma of Accounting
Comments
Equivalence to previous qualification
Core units changed. Packaging rules changed. Three units removed from elective unit list. New qualification that reflects the integration of two now superseded qualifications: FNS40215 Certificate IV in Bookkeeping and FNS40615 Certificate IV in Accounting. Entry requirements added. Changes to elective unit list. New qualification.
No equivalent qualification.
Entry requirements added. Changes to elective unit list.
No equivalent qualification.
No equivalent qualification. No equivalent qualification. No equivalent qualification.
Skill set mapping Skill Set code and title FNS Financial Services version 2.1 No previous skill set No previous skill set No previous skill set No previous skill set
Skill Set code and title FNS Financial Services version 3.0 FNSSS00012 Payroll Administrator Skill Set FNSSS00013 Business Ethics and Conduct Skill Set FNSSS00014 Accounting Principles Skill Set FNSSS00015 Advanced Accounting Principles Skill Set
Comments New skill set. New skill set. New skill set. New skill set.
29
Unit mapping Unit of competency code and title FNS Financial Services version 2.1 No previous unit
No previous unit
No previous unit
No previous unit
No previous unit
No previous unit
No previous unit
No previous unit
FNSACC301 Process financial transactions and extract interim reports FNSACC302 Administer subsidiary accounts and ledgers FNSACC303 Perform financial calculations
Unit of competency code and title FNS Financial Services version 3.0 FNSACC304 Conduct business activities using a computerised accounting system FNSINC503 Identify situations requiring complex ethical decision making FNSINC504 Apply ethical frameworks and principles to make and act on decisions FNSPAY501 Process salary packaging arrangements and additional allowances in payroll FNSPAY502 Process superannuation payments in payroll FNSPAY503 Process complex employee terminations in payroll FNSPAY504 Interpret and apply knowledge of industrial regulations relevant to payroll FNSPAY505 Interpret and apply knowledge of taxation systems relevant to payroll FNSACC311 Process financial transactions and extract interim reports FNSACC312 Administer subsidiary accounts and ledgers FNSACC313 Perform financial calculations
Comments
Equivalence to previous unit
New unit.
No equivalent unit.
New unit.
No equivalent unit.
New unit.
No equivalent unit.
New unit.
No equivalent unit.
New unit.
No equivalent unit.
New unit.
No equivalent unit.
New unit.
No equivalent unit.
New unit.
No equivalent unit.
Elements 5 and 6 integrated into one element. Updates to other elements, performance criteria and assessment requirements. Updates to elements, performance criteria and assessment requirements.
Equivalent unit.
Updates to performance criteria. Updates to assessment requirements to expand required performance evidence.
Equivalent unit.
Equivalent unit.
30
Unit of competency code and title FNS Financial Services version 2.1 FNSACC401 Process business tax requirements FNSACC402 Prepare operational budgets
Unit of competency code and title FNS Financial Services version 3.0 FNSACC411 Process business tax requirements FNSACC412 Prepare operational budgets
FNSACC403 Make decisions in a legal context
FNSACC413 Make decisions in a legal context
FNSACC404 Prepare financial statements for non-reporting entities FNSACC406 Set up and operate a computerised accounting system FNSACC501 Provide financial and business performance information
FNSACC414 Prepare financial statements for non-reporting entities FNSACC416 Set up and operate a computerised accounting system FNSACC511 Provide financial and business performance information FNSACC512 Prepare tax documentation for individuals FNSACC513 Manage budgets and forecasts
FNSACC502 Prepare tax documentation for individuals FNSACC503 Manage budgets and forecasts
FNSACC504 Prepare financial reports for corporate entities FNSACC506 Implement and maintain internal control procedures FNSACC507 Provide management accounting information FNSACC604 Monitor corporate governance activities FNSBKG401 Develop and implement policies and procedures relevant to bookkeeping activities
Comments
Equivalence to previous unit
Minor edits to performance criteria to clarify intent of unit.
Equivalent unit.
Edits to performance criteria to clarify intent of unit. Added performance criterion to Element 3. Edits to performance criteria to clarify their intent. Added performance criterion to Element 2. Expanded knowledge evidence. Edits to performance criteria and assessment requirements to clarify intent.
Equivalent unit.
Elements 4 and 5 integrated into one element. Updates to assessment requirements.
Equivalent unit.
Changes to Elements 1 and 2. Minor edits throughout unit to clarify intent.
Equivalent unit.
Updates to performance criteria to clarify intent of unit.
Equivalent unit.
Changes to performance criteria in Elements 1–3. Expanded performance evidence and knowledge evidence. Edits to performance criteria to clarify intent.
Equivalent unit.
FNSACC514 Prepare financial reports for corporate entities FNSACC516 Edits to performance criteria and Implement and elements. Updates to performance maintain internal evidence and knowledge evidence. control procedures FNSACC517 Provide Minor edits to performance management criteria to clarify intent. Edits to accounting knowledge evidence to better align information with performance criteria. FNSACC624 Monitor Edits to performance criteria to corporate clarify intent. Expanded governance activities performance evidence. FNSACC408 Work Updates to Elements 1 and 2. effectively in the Added Elements 4 and 5. Updates accounting and to performance evidence and bookkeeping assessment conditions. industry
Equivalent unit.
Equivalent unit.
Equivalent unit.
Equivalent unit.
Equivalent unit.
Equivalent unit.
Not equivalent unit.
31
Unit of competency Unit of competency code and title FNS code and title FNS Financial Services Financial Services version 2.1 version 3.0 FNSBKG402 Establish N/A a cash accounting system FNSBKG403 Establish N/A an accrual accounting system FNSBKG404 Carry out FNSTPB401 business activity and Complete business instalment activity activity and statement tasks instalment activity statements FNSBKG405 Establish FNSTPB402 and maintain a payroll Establish and system maintain payroll systems
Comments
Equivalence to previous unit
Unit deleted from training package.
N/A
Unit deleted from training package.
N/A
Updated to meet Tax Practitioners Board requirements. Minor editorial changes to unit title. Removed performance criteria from Elements 3 and 5. Updated to meet Tax Practitioners Board requirements. Minor editorial changes to unit title. Changes to performance criteria in Elements 1–3. Changes to assessment requirements to clarify intent.
Equivalent unit.
Equivalent unit.
32
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