FNS Financial Services Training Package Documents/FNSv1 Implementation Guide... · Skill sets in the FNS Financial Services Training Package release 1 9 ... • FNS41715 Certificate

Companion Volume Appendix

FNS Financial Services Training Package Implementation Guide - Appendix

DisclaimerThis work has been produced with the assistance 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 addition, the Department of Education and Training does not give warranty or accept any legal liability in relation to the content of this work.

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© 2015 Commonwealth of Australia

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ContentsContents 3

Version control and modification history 4

Appendix 1 List of qualifications, skill sets and units of competency 6

Qualifications in the FNS Financial Services Training Package release 1 7

Skill sets in the FNS Financial Services Training Package release 1 9

Units of competency in the FNS Financial Services Training Package release 1 10

Appendix 2 Mapping information 35

Mapping information 35

Qualification mapping 36

Skill sets mapping 43

Unit mapping 44

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Version control and modification historyRelease number Release date CommentsRelease 1 March 2015 Primary release of restructured FNS Financial Services Training

Package

This release 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 Training Package:

• FNS50411 Diploma of Conveyancing

• FNSCNV60311 Advanced Diploma of Conveyancing

Two qualifications based on merged qualifications:

• FNS41915 Certificate IV in Personal Injury Management

• FNS42015 Certificate IV in Banking Services

Qualifications updated and not equivalent to FNS10 qualifications:

• FNS30615 Certificate III in Insurance Broking

• FNS40615 Certificate IV in Accounting

• FNS41915 Certificate IV in Personal Injury Management


• FNS41715 Certificate IV in Insurance Broking

• 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

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Release number Release date CommentsSkill 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)

• FNSS00009 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

• 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 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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Qualifications in the FNS Financial Services Training Package release 1

Qualification code Qualification titleFNS10115 Certificate I in Financial Services

FNS20115 Certificate II in Financial Services

FNS30115 Certificate III in Financial Services

FNS30215 Certificate III in Personal Injury Management

FNS30315 Certificate III in Accounts Administration

FNS30415 Certificate III in Mercantile Agents

FNS30515 Certificate III in General Insurance

FNS30615 Certificate III in Insurance Broking

FNS40115 Certificate IV in Credit Management

FNS40215 Certificate IV in Bookkeeping

FNS40615 Certificate IV in Accounting

FNS40715 Certificate IV in Financial Practice Support

FNS40815 Certificate IV in Finance and Mortgage Broking

FNS40915 Certificate IV in Superannuation

Appendix 1 List of qualifications, skill sets and units of competency

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Qualification code Qualification titleFNS41115 Certificate IV in Financial Markets Operations

FNS41315 Certificate IV in Personal Trust Administration

FNS41415 Certificate IV in General Insurance

FNS41515 Certificate IV in Life Insurance

FNS41715 Certificate IV in Insurance Broking

FNS41815 Certificate IV in Financial Services

FNS41915 Certificate IV in Personal Injury Management

FNS42015 Certificate IV in Banking Services

FNS50115 Diploma of Personal Injury Management

FNS50215 Diploma of Accounting

FNS50315 Diploma of Finance and Mortgage Broking Management

FNS50515 Diploma of Personal Trustees

FNS50615 Diploma of Financial Planning

FNS50715 Diploma of Superannuation

FNS50815 Diploma of Integrated Risk Management

FNS50915 Diploma of Banking Services Management

FNS51015 Diploma of Financial Markets

FNS51115 Diploma of General Insurance

FNS51215 Diploma of Insurance Broking

FNS51315 Diploma of Life Insurance

FNS51415 Diploma of Loss Adjusting

FNS51515 Diploma of Credit Management

FNS51615 Diploma of Securitisation

FNS51715 Diploma of Anti-Money Laundering and Counter Terrorism Financing Management

FNS51815 Diploma of Financial Services

FNS60115 Advanced Diploma of Insurance Broking

FNS60215 Advanced Diploma of Accounting

FNS60415 Advanced Diploma of Financial Planning

FNS60515 Advanced Diploma of Superannuation

FNS60615 Advanced Diploma of Banking Services Management

FNS60715 Advanced Diploma of Financial Licensing Management

FNS60815 Advanced Diploma of Integrated Risk Management

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Skill sets in the FNS Financial Services Training Package release 1

Skill set code Skill set titleFNSSS00004 BAS Agent Registration Skill Set

FNSSS00005 Commercial Law for Tax Agents Skill Set

FNSSS00006 Commercial Law for Tax (Financial) Advisers Skill Set

FNSSS00007 Financial Literacy Education Skill Set

FNSSS00008 Tax Law for Tax Agents Skill Set (Tax documentation)

FNSSS00009 Tax Law for Tax Agents Skill Set (Tax plans)

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Units of competency in the FNS Financial Services Training Package release 1

Unit code Unit titleFNSACC301 Process financial transactions and extract interim reports

FNSACC302 Administer subsidiary accounts and ledgers

FNSACC303 Perform financial calculations

FNSACC401 Process business tax requirements

FNSACC402 Prepare operational budgets

FNSACC403 Make decisions in a legal context

FNSACC404 Prepare financial statements for non-reporting entities

FNSACC405 Maintain inventory records

FNSACC406 Set up and operate a computerised accounting system

FNSACC407 Produce job costing information

FNSACC501 Provide financial and business performance information

FNSACC502 Prepare tax documentation for individuals

FNSACC503 Manage budgets and forecasts

FNSACC504 Prepare financial reports for corporate entities

FNSACC505 Establish and maintain accounting information systems

FNSACC506 Implement and maintain internal control procedures

FNSACC507 Provide management accounting information

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

FNSACC604 Monitor corporate governance activities

FNSACC605 Implement organisational improvement programs

FNSACC606 Conduct internal audit

FNSACC607 Evaluate business performance

FNSACC608 Evaluate organisation’s financial performance

FNSACC609 Evaluate financial risk

FNSACC610 Develop and implement financial strategies

FNSACC611 Implement an insolvency program

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Unit code Unit titleFNSACC612 Implement reconstruction plan

FNSACC613 Prepare and analyse management accounting information

FNSACC614 Prepare complex corporate financial reports

FNSACM301 Administer financial accounts

FNSACM302 Prepare, match and process receipts

FNSACM303 Process payment documentation

FNSACM401 Evaluate and authorise payment requests

FNSASIC301 Establish client relationship and analyse needs

FNSASIC302 Develop, present and negotiate client solutions

FNSASIC303 Provide advice on first home saver account deposit products and non-cash payments

FNSASIC304 Provide Tier 2 general advice in general insurance

FNSASIC305 Provide Tier 2 personal advice in general insurance

FNSASICL503 Provide advice in the regulated emissions market

FNSASICM503 Provide Tier 1 personal advice in life insurance

FNSASICN503 Provide Tier 1 personal advice in general insurance

FNSASICO503 Provide Tier 1 general advice in general insurance

FNSASICQ503 Provide advice in first home saver market linked accounts

FNSASICR503 Provide advice in margin lending

FNSASICS503 Provide advice in foreign exchange

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

FNSBKG401 Develop and implement policies and procedures relevant to bookkeeping activi-ties

FNSBKG402 Establish and maintain a cash accounting system

FNSBKG403 Establish and maintain an accrual accounting system

FNSBKG404 Carry out business activity and instalment activity statement tasks

FNSBKG405 Establish and maintain a payroll system

FNSBNK401 Coordinate a small business customer portfolio

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Unit code Unit titleFNSBNK402 Align banking products with the needs of small business customers

FNSBNK403 Provide services in a Business Transaction Centre

FNSBNK404 Promote mobile banking services

FNSBNK405 Provide mobile banking sales and service

FNSBNK406 Manage customer visits

FNSBNK501 Manage banking and service strategy for small business customers

FNSBNK502 Manage services in a Business Transaction Centre

FNSBNK503 Provide business advisory services within a financial services context

FNSCMP501 Comply with financial services legislation

FNSCRD301 Process applications for credit

FNSCRD302 Monitor and control accounts receivable

FNSCRD401 Assess credit applications

FNSCRD402 Establish and maintain appropriate security

FNSCRD403 Manage and recover bad and doubtful debts

FNSCRD404 Utilise the legal process to recover outstanding debt

FNSCRD405 Manage overdue customer accounts

FNSCRD501 Respond to personal insolvency situations

FNSCRD502 Manage factoring and invoice discounting arrangements

FNSCRD503 Promote understanding of the role and effective use of consumer credit

FNSCRD504 Manage the credit relationship

FNSCRD505 Respond to corporate insolvency situations

FNSCUS301 Respond to customer enquiries

FNSCUS401 Participate in negotiations

FNSCUS402 Resolve disputes

FNSCUS403 Deliver a professional service to customers

FNSCUS501 Develop and nurture relationships with clients, other professionals and third-party referrers

FNSCUS502 Monitor client requirements

FNSCUS503 Review business performance

FNSCUS504 Manage premium customer relationships

FNSCUS505 Determine client requirements and expectations

FNSCUS506 Record and implement client instructions

FNSCUS601 Establish, manage and monitor key relationships

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Unit code Unit titleFNSFLT201 Develop and use a personal budget

FNSFLT202 Develop and use a savings plan

FNSFLT203 Develop knowledge of debt and consumer credit

FNSFLT204 Develop knowledge of superannuation

FNSFLT205 Develop knowledge of the Australian financial system and markets

FNSFLT206 Develop knowledge of taxation

FNSFLT301 Be MoneySmart

FNSFLT401 Be MoneySmart through a career in Small Business

FNSFLT501 Assist customers to budget and manage own finances

FNSFLT502 Facilitate customer awareness of the Australian financial system and markets

FNSFLT503 Promote basic financial literacy skills

FNSFLT504 Facilitate customer understanding of personal financial statements

FNSFLT505 Facilitate customer or employee understanding of superannuation as an invest-ment tool

FNSFMB401 Prepare loan application on behalf of finance or mortgage broking clients

FNSFMB402 Identify client needs for broking services

FNSFMB403 Present broking options to client

FNSFMB501 Settle applications and loan arrangements in the finance and mortgage broking industry

FNSFMB502 Identify and develop broking options for clients with complex needs

FNSFMB503 Present broking options to client with complex needs

FNSFMB504 Implement complex loan structures

FNSFMK401 Reconcile financial transactions

FNSFMK402 Develop and maintain knowledge of financial markets products

FNSFMK403 Interpret financial markets information

FNSFMK501 Analyse financial markets and information

FNSFMK502 Analyse financial market products for client

FNSFMK503 Advise clients on financial risk

FNSFMK504 Complete confirmation and settlement processes

FNSFMK505 Comply with financial services legislation and industry codes of practice

FNSFMK506 Detect errors and fraud when processing financial transactions

FNSFMK507 Analyse risk mitigation in the operation process

FNSFMK508 Monitor and process collateral

FNSFMK509 Process transaction documentation

FNSFMK510 Prepare trading strategies for clients

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Unit code Unit titleFNSFMK511 Apply limits when trading

FNSFMK512 Apply knowledge of emissions markets

FNSFMK601 Price financial transactions

FNSFMK602 Hedge financial products

FNSFPL401 Extract and analyse information on specified financial strategies and products

FNSFPL402 Prepare financial plans to set strategies and guidelines

FNSFPL403 Implement financial plans to predetermined guidelines

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

FNSFPL506 Determine client requirements and expectations

FNSFPL507 Provide financial planning advice

FNSFPL508 Conduct complex financial planning research

FNSFPL601 Provide technical and professional guidance

FNSFPL602 Determine client requirements and expectations for clients with complex needs

FNSFPL603 Provide comprehensive monitoring and ongoing service

FNSFPL604 Develop complex and innovative financial planning strategies

FNSFPL605 Present and negotiate complex and innovative financial plans

FNSFPL606 Implement complex and innovative financial plan

FNSIAD301 Provide general advice on financial products and services

FNSIAD501 Provide appropriate services, advice and products to clients

FNSIAD502 Provide appropriate and timely information and advice to clients

FNSIBK302 Provide general advice in general insurance broking products and services

FNSIBK401 Research, analyse and report information in insurance broking

FNSIBK402 Implement new or renewed insurance program for insurance broking clients

FNSIBK403 Place client insurances with insurer and confirm insurance cover with clients

FNSIBK404 Provide a claims service to an insurance broking client

FNSIBK405 Meet industry and legislative guidelines and organisational procedures relating to insurance broking

FNSIBK406 Deliver professional insurance broking services

FNSIBK507 Review service performance

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Unit code Unit titleFNSIBK508 Implement changes to broking client's insurance program

FNSIBK512 Negotiate complex claims settlement for insurance broking client

FNSIBK513 Prepare submission for new business

FNSIBK514 Manage complex risk portfolio for a broking client

FNSIBK515 Monitor broking client requirements and establish loss control programs

FNSIBK601 Develop guidelines for broking services

FNSIBK602 Manage implementation of broking service support systems

FNSIBK603 Manage contractual, legislative and code of practice obligations and require-ments

FNSIBK604 Manage a sales plan for insurance broking services

FNSIBK606 Manage compliance requirements for an insurance broking business

FNSIBK607 Lead ethical work practices in an insurance brokerage

FNSIBK608 Establish and maintain strategic networks and collaborative relationships

FNSIGN401 Provide technical guidance

FNSIGN402 Inspect quality of work

FNSIGN403 Estimate jobs

FNSIGN404 Inspect damage and develop scope of work

FNSIGN406 Inspect property for saleable items and determine their value

FNSILA501 Plan and implement loss investigation

FNSILA502 Evaluate collected information

FNSILA503 Report findings and provide guidance to involved parties

FNSILA504 Negotiate and effect settlement

FNSILA505 Provide ancillary services

FNSILD501 Prepare a distribution plan

FNSILD502 Resource a distribution plan

FNSILD503 Establish services to provide advice

FNSILD504 Implement and manage the distribution plan

FNSILF302 Process a life insurance application

FNSILF303 Issue a life insurance policy

FNSILF401 Contribute to the life risk underwriting process

FNSILF402 Settle policy payments and terminations

FNSILF403 Develop and maintain in-depth knowledge of products and services used by the life insurance sector

FNSILF404 Process requests for policy alterations and assignments

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Unit code Unit titleFNSILF405 Evaluate life insurance claims

FNSILF406 Collect and manage information to facilitate claims assessment

FNSILF407 Settle life insurance claims

FNSILF408 Process life insurance contract maturity and surrender payment requests

FNSILF501 Assess extraordinary risks

FNSILF502 Underwrite complex medical life risks

FNSILF503 Underwrite complex non-medical risks

FNSILF504 Manage complex life insurance claims

FNSILF505 Manage ongoing disability claims

FNSILF506 Manage group life insurance claims

FNSILF507 Manage group life insurance policy administration

FNSINC301 Work effectively in the financial services industry

FNSINC401 Apply principles of professional practice to work in the financial services industry

FNSINC402 Develop and maintain in-depth knowledge of products and services used by an organisation or sector

FNSINC501 Conduct product research to support recommendations

FNSINC502 Assess financial products and services vulnerability to money laundering and terrorism financing

FNSINC601 Apply economic principles to work in the financial services industry

FNSINC602 Interpret and use financial statistics and tools

FNSISV301 Evaluate risk for renewal business

FNSISV302 Process alteration to insurance policy

FNSISV303 Issue contract of insurance

FNSISV304 Issue insurance renewal advice

FNSISV305 Issue insurance cancellation advice

FNSISV306 Receive and record or register a claim

FNSISV307 Follow organisation procedures to process claim

FNSISV308 Process facultative and treaty reinsurance claim

FNSISV309 Settle claims

FNSISV310 Process insurance claims payments

FNSISV401 Evaluate risk for new business

FNSISV402 Underwrite new business

FNSISV403 Survey potential risk exposure

FNSISV404 Underwrite renewal business

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Unit code Unit titleFNSISV405 Analyse insurance claims

FNSISV406 Use specialist terminology in insurance claims

FNSISV407 Use medical terminology in an insurance context

FNSISV501 Issue contracts of insurance covering non-routine and complex situations

FNSISV502 Review operational performance of the portfolio

FNSISV503 Undertake post-loss risk management

FNSISV504 Negotiate treaty reinsurance

FNSISV505 Determine risk rating for investment and insurance products

FNSISV506 Investigate insurance claims

FNSISV507 Implement claim recovery procedures

FNSISV508 Review and advise on claims costs, policies and procedures

FNSISV509 Analyse financial, medical and psychological claims assessments

FNSISV510 Manage non-routine and complex claims

FNSISV511 Settle non-routine and complex claims

FNSISV512 Work with legal teams to resolve complex claims

FNSISV513 Provide decisions on legal liability and indemnity of a claim

FNSISV514 Review and update claim reserves in portfolio

FNSISV515 Evaluate and report on status of claims portfolio

FNSISV516 Allocate authorities and guidelines for distribution

FNSISV517 Review claims settlement policies and procedures

FNSMCA301 Collect debts

FNSMCA302 Repossess property

FNSMCA303 Serve legal process

FNSMCA304 Locate subjects

FNSMCA401 Develop and document case recommendations

FNSMCA402 Initiate legal recovery of debts

FNSORG301 Administer fixed asset register

FNSORG401 Conduct individual work within a compliance framework

FNSORG501 Develop and manage a budget

FNSORG502 Develop and monitor policy and procedures

FNSORG503 Develop a resource plan

FNSORG504 Monitor and supervise work practices to meet financial services regulatory re-quirements

FNSORG505 Prepare financial reports to meet statutory requirements

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Unit code Unit titleFNSORG506 Prepare financial forecasts and projections

FNSORG507 Manage client service and business information

FNSORG508 Analyse and comment on management reports

FNSORG601 Negotiate to achieve goals and manage disputes

FNSORG602 Develop and manage financial systems

FNSORG603 Establish and prepare operational guidelines in a financial services organisation

FNSORG604 Establish outsourced services and monitor performance

FNSPIM301 Process benefit payments

FNSPIM302 Determine claim liability

FNSPIM303 Work within the personal injury management sector

FNSPIM304 Assess and determine ongoing entitlements

FNSPIM401 Plan and implement rehabilitation and return to work and health strategies

FNSPIM403 Educate clients on personal injury management issues

FNSPIM404 Assist clients with job placement

FNSPIM405 Facilitate a return to work

FNSPIM406 Develop and maintain knowledge of personal injury management insurance

FNSPIM407 Register policy

FNSPIM408 Renew and maintain policy

FNSPIM409 Maintain customer relationship

FNSPIM410 Collect, assess and use information

FNSPIM413 Assist with preparations for conciliation and review hearings

FNSPIM414 Manage personal injury claims

FNSPIM415 Manage personal injury case loads

FNSPIM501 Develop a return to work or injury management strategy

FNSPIM502 Facilitate workplace assessment with stakeholders for personal injury cases

FNSPIM503 Represent personal injury management agent or insurer at reconciliation and review hearings

FNSPIM504 Manage impairment benefit claims

FNSPIM505 Use medical knowledge in the management of personal injury claims

FNSPRM601 Establish, supervise and monitor practice systems to conform with legislation and regulations

FNSPRM602 Improve the practice

FNSPRM603 Grow the practice

FNSPRM605 Establish or review marketing, client services and supplier relationships

FNSPRM606 Establish or review human resources, administration and information support

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Unit code Unit titleFNSPRT301 Establish entitlements to an intestate estate

FNSPRT302 Administer a non-complex estate

FNSPRT303 Administer a non-complex trust

FNSPRT401 Administer an intestate estate

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 order

FNSPRT406 Administer powers of attorney or financial administration orders

FNSPRT501 Advise clients on trust structures

FNSPRT502 Advise clients in estate planning

FNSPRT503 Assess, allocate and supervise work within the personal trustee sector

FNSRSK401 Implement risk management strategies

FNSRSK501 Undertake risk identification

FNSRSK502 Assess risks

FNSRSK601 Develop and implement risk mitigation plan

FNSRSK602 Determine and manage risk exposure strategies

FNSRTS301 Provide customer service in a retail agency

FNSRTS302 Handle foreign currency transactions

FNSRTS303 Balance retail transactions

FNSRTS304 Administer debit card services

FNSRTS305 Process customer accounts

FNSRTS306 Process customer transactions

FNSRTS307 Maintain Automatic Teller Machine (ATM) services

FNSRTS308 Balance cash holdings

FNSRTS309 Maintain main bank account

FNSRTS401 Manage credit card services

FNSRTS402 Prepare government returns and reports

FNSSAM301 Identify opportunities for cross-selling products and services

FNSSAM401 Sell financial products and services

FNSSAM402 Implement a sales plan

FNSSAM403 Prospect for new clients

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Unit code Unit titleFNSSAM501 Apply advanced selling techniques to selling of financial products and services

FNSSAM502 Assess market needs

FNSSAM503 Monitor market opportunities

FNSSAM601 Monitor performance in sales of financial products or services

FNSSAM602 Identify and evaluate marketing opportunities in the financial services industry

FNSSAM603 Tailor financial products to meet customer needs

FNSSAM604 Establish agreements with intermediaries for product distribution

FNSSMS401 Process self-managed superannuation contribution

FNSSMS501 Invest self-managed superannuation funds assets

FNSSMS502 Manage changes to fund structure

FNSSMS503 Manage administration activities of a superannuation fund

FNSSMS504 Meet self-managed superannuation funds compliance requirements

FNSSMS505 Support trustee in the selection and performance monitoring of outsourced ser-vices

FNSSMS601 Provide advice in self-managed superannuation funds

FNSSMS602 Consider taxation requirements when advising in self-managed superannuation funds

FNSSMS603 Apply legislative and operational requirements to advising in self-managed superannuation funds

FNSSUP301 Process superannuation fund payments

FNSSUP302 Establish, maintain and process superannuation records

FNSSUP303 Process superannuation contributions

FNSSUP304 Process superannuation rollover benefits

FNSSUP305 Implement member investment instructions

FNSSUP306 Terminate superannuation plans

FNSSUP401 Process complex superannuation benefit or insurance claim

FNSSUP402 Assist in meeting superannuation compliance requirements

FNSSUP403 Administer retirement income streams

FNSSUP404 Establish and customise employer accounts

FNSSUP406 Establish and maintain fund or plan

FNSSUP407 Assess complex superannuation benefit or insurance claim

FNSSUP408 Participate in fund review practices

FNSSUP501 Supervise complaints procedures

FNSSUP502 Supervise insurer liaison

FNSSUP503 Develop client relationships with employers and establish superannuation sys-tems

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Unit code Unit titleFNSSUP504 Provide advanced customer service to superannuation clients

FNSSUP505 Produce reports for superannuation

FNSSUP506 Supervise and monitor operational guidelines in a superannuation organisation

FNSSUP507 Review compliance with regulatory and contractual requirements

FNSSUP508 Provide effective information to members

FNSSUP509 Work within a defined benefit fund

FNSSUP510 Supervise insurance tender process

FNSSUP601 Liaise with and support trustees

FNSSUP602 Manage official complaints procedures and proceedings

FNSSUP603 Integrate investment strategy with fund operations

FNSTPB503 Apply legal principles in consumer and contract law

FNSTPB504 Apply legal principles in corporations and trusts law

FNSTPB505 Apply legal principles in property law

FNSTPB506 Apply taxation requirements when providing tax (financial) advice services

FNSTPB507 Apply legal principles in commercial law when providing tax (financial) advice services

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Units of competency with pre-requisites

Unit code and title Prerequisite unit code and titleFNSACC504 Prepare financial reports for corporate entities BSBFIA401 Prepare financial reports

FNSACC301 Process financial transactions and extract interim reports



FNSACC602 Audit and report on financial systems and records FNSACC506 Implement and maintain internal control procedures

FNSACC603 Implement tax plans and evaluate tax obligations FNSACC502 Prepare tax documentation for individuals

FNSACC606 Conduct internal audit FNSACC506 Implement and maintain internal control procedures

FNSACC607 Evaluate business performance FNSACC501 Provide financial and business performance information

FNSACC608 Evaluate organisation’s financial performance FNSACC501 Provide financial and business performance information

FNSACC609 Evaluate financial risk FNSACC501 Provide financial and business performance information

FNSACC610 Develop and implement financial strategies FNSACC501 Provide financial and business performance information



FNSACC614 Prepare complex corporate financial reports FNSACC504 Prepare financial reports for corporate entities




FNSASICL503 Provide advice in the regulated emissions market FNSFMK501 Analyse financial markets and information



FNSFMK512 Apply knowledge of the emissions market

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Unit code and title Prerequisite unit code and titleFNSASICQ503 Provide advice in first home saver market linked accounts

FNSINC501 Conduct product research to support recommendations




FNSASICR503 Provide advice in margin lending FNSINC501 Conduct product research to support recommendations




FNSAISCS503 Provide advice in foreign exchange FNSINC501 Conduct product research to support recommendations




FNSASICT503 Provide advice in managed investments FNSINC501 Conduct product research to support recommendations




FNSASICU503 Provide advice in superannuation FNSINC501 Conduct product research to support recommendations

FNSIAD501 Provide appropriate services, advices and products to clients



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Unit code and title Prerequisite unit code and titleFNSASICV503 Provide advice in derivatives FNSFMK502 Analyse financial market products for client




FNSASICW503 Provide advice in securities FNSFMK502 Analyse financial market products for client




FNSASICX503 Provide advice in life insurance FNSINC501 Conduct product research to support recommendations




FNSASICY503 Provide advice in insurance broking FNSIBK406 Deliver professional insurance broking services

FNSIBK508 Implement changes to broking client’s insurance program


FNSASICZ503 Provide advice in financial planning FNSFPL501 Comply with financial planning practice ethical and operational guidelines and regulations







FNSCRD505 Respond to corporate insolvency situations FNSCRD501 Respond to personal insolvency situations

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Imported units of competencyA 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 Imported unit title OriginBSBADM311 Maintain business resources BSB Business Services

Training Package

BSBADM405 Organise meetings BSB Business Services Training Package

BSBADM502 Manage meetings BSB Business Services Training Package

BSBCMM301 Process customer complaints BSB Business Services Training Package

BSBCMM401 Make a presentation BSB Business Services Training Package

BSBCNV501 Take instructions in relation to a transaction BSB Business Services Training Package

BSBCNV502 Read and interpret a legal document and provide advice BSB Business Services Training Package

BSBCNV503 Analyse and interpret legal requirements for a transaction BSB Business Services Training Package

BSBCNV506 Establish and manage a trust account BSB Business Services Training Package

BSBCOM401 Organise and monitor the operation of compliance management system

BSB Business Services Training Package

BSBCOM402 Implement processes for the management of a breach in compliance requirements


BSBCOM405 Promote compliance with legislation BSB Business Services Training Package

BSBCOM406 Conduct work within a compliance framework BSB Business Services Training Package

BSBCOM501 Identify and interpret compliance requirements BSB Business Services Training Package

BSBCOM503 Develop processes for the management of breaches in compliance requirements


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Imported unit code Imported unit title OriginBSBCOM602 Develop and create compliance requirements BSB Business Services

Training Package

BSBCOM603 Plan and establish compliance management systems BSB Business Services Training Package

BSBCUE203 Conduct customer engagement BSB Business Services Training Package

BSBCUE301 Use multiple information systems BSB Business Services Training Package

BSBCUE303 Conduct a telemarketing campaign BSB Business Services Training Package

BSBCUE304 Provide sales solutions to customers BSB Business Services Training Package

BSBCUE307 Work effectively in customer engagement BSB Business Services Training Package

BSBCUE309 Develop product and service knowledge for customer engagement operation


BSBCUE404 Collect, analyse and record information BSB Business Services Training Package

BSBCUE405 Survey stakeholders to gather and record information BSB Business Services Training Package

BSBCUE407 Administer customer engagement technology BSB Business Services Training Package

BSBCUE504 Integrate customer engagement within the organisation BSB Business Services Training Package

BSBCUS301 Deliver and monitor a service to customers BSB Business Services Training Package

BSBCUS401 Coordinate implementation of customer service strategies BSB Business Services Training Package

BSBCUS402 Address customer needs BSB Business Services Training Package

BSBCUS403 Implement customer service standards BSB Business Services Training Package

BSBCUS501 Manage quality customer service BSB Business Services Training Package

26

Imported unit code Imported unit title OriginBSBFIA301 Maintain financial records BSB Business Services

Training Package

BSBFIA302 Process payroll BSB Business Services Training Package

BSBFIA304 Maintain a general ledger BSB Business Services Training Package

BSBFIA401 Prepare financial reports BSB Business Services Training Package

BSBFIM501 Manage budgets and financial plans BSB Business Services Training Package

BSBFLM303 Contribute to effective workplace relationships BSB Business Services Training Package

BSBFLM305 Support operational plan BSB Business Services Training Package

BSBFLM309 Support continuous improvement systems and processes BSB Business Services Training Package

BSBFRA301 Work within a franchise BSB Business Services Training Package

BSBFRA403 Manage relationship with franchisor BSB Business Services Training Package

BSBGOV403 Analyse financial reports and budgets BSB Business Services Training Package

BSBHRM506 Manage recruitment selection and induction processes BSB Business Services Training Package

BSBHRM604 Manage employee relations BSB Business Services Training Package

BSBINM302 Utilise a knowledge management system BSB Business Services Training Package

BSBINM401 Implement workplace information system BSB Business Services Training Package

BSBINM501 Manage an information or knowledge management system BSB Business Services Training Package

BSBINM601 Manage knowledge and information BSB Business Services Training Package

27



Imported unit code Imported unit title OriginBSBINN301 Promote innovation in a team environment BSB Business Services

Training Package

BSBINN501 Establish systems that support innovation BSB Business Services Training Package

BSBINN502 Build and sustain an innovative work environment BSB Business Services Training Package

BSBINN601 Lead and manage organisational change BSB Business Services Training Package

BSBITB501 Establish and maintain a workgroup computer network BSB Business Services Training Package

BSBITS401 Maintain business technology BSB Business Services Training Package

BSBITU304 Produce spreadsheets BSB Business Services Training Package

BSBITU305 Conduct online transactions BSB Business Services Training Package

BSBITU306 Design and produce business documents BSB Business Services Training Package

BSBITU402 Develop and use complex spreadsheets BSB Business Services Training Package

BSBLDR402 Lead effective workplace relationships BSB Business Services Training Package

BSBLDR403 Lead team effectiveness BSB Business Services Training Package

BSBLDR502 Lead and manage effective workplace relationships BSB Business Services Training Package

BSBLED501 Develop a workplace learning environment BSB Business Services Training Package

BSBLED503 Maintain and enhance professional practice BSB Business Services Training Package

BSBLEG301 Apply knowledge of the legal system to complete tasks BSB Business Services Training Package

BSBLEG413 Identify and apply the legal framework BSB Business Services Training Package

28



Imported unit code Imported unit title OriginBSBLEG415 Apply the principles of contract law BSB Business Services

Training Package

BSBLEG513 Apply legal principles in corporations law matters BSB Business Services Training Package

BSBMGT401 Show leadership in the workplace BSB Business Services Training Package

BSBMGT402 Implement operational plan BSB Business Services Training Package

BSBMGT403 Implement continuous improvement BSB Business Services Training Package

BSBMGT405 Provide personal leadership BSB Business Services Training Package

BSBMGT502 Manage people performance BSB Business Services Training Package

BSBMGT516 Facilitate continuous improvement BSB Business Services Training Package

BSBMGT517 Manage operational plan BSB Business Services Training Package

BSBMGT605 Provide leadership across the organisation BSB Business Services Training Package

BSBMGT608 Manage innovation and continuous improvement BSB Business Services Training Package

BSBMGT615 Contribute to organisation development BSB Business Services Training Package

BSBMGT616 Develop and implement strategic plans BSB Business Services Training Package

BSBMGT617 Develop and implement a business plan BSB Business Services Training Package

BSBMKG501 Identify and evaluate marketing opportunities BSB Business Services Training Package

BSBPMG411 Apply project quality-management techniques BSB Business Services Training Package

BSBPMG412 Apply project cost-management techniques BSB Business Services Training Package

29

Imported unit code Imported unit title OriginBSBPMG415 Apply project risk-management techniques BSB Business Services

Training Package

BSBPMG517 Manage project risk BSB Business Services Training Package

BSBPMG521 Manage project integration BSB Business Services Training Package

BSBPMG522 Undertake project work BSB Business Services Training Package

BSBREL402 Build client relationships and business networks BSB Business Services Training Package

BSBLDR803 Develop and cultivate collaborative partnerships and rela-tionships BSB Business Services Training Package

BSBRES401 Analyse and present research information BSB Business Services Training Package

BSBRKG303 Retrieve information from records BSB Business Services Training Package

BSBRKG304 Maintain business records BSB Business Services Training Package

BSBRKG404 Monitor and maintain records in an online environment BSB Business Services Training Package

BSBRSK401 Identify risk and apply risk management processes BSB Business Services Training Package

BSBRSK501 Manage risk BSB Business Services Training Package

BSBSLS501 Develop a sales plan BSB Business Services Training Package

BSBSLS502 Lead and manage a sales team BSB Business Services Training Package

BSBSMB401 Establish legal and risk management requirements of small business


BSBSMB405 Monitor and manage small business operations BSB Business Services Training Package

BSBSMB407 Manage a small team BSB Business Services Training Package

30

Imported unit code Imported unit title OriginBSBSMB409 Build and maintain relationships with small business stake-holders BSB Business Services

Training Package

BSBSMB411 Manage specialist external advisory services BSB Business Services Training Package

BSBSMB412 Introduce cloud computing into business operations BSB Business Services Training Package

BSBSUS301 Implement and monitor environmentally sustainable work practices


BSBSUS501 Develop workplace policy and procedures for sustainabil-ity BSB Business Services Training Package

BSBWHS201 Contribute to health and safety of self and others BSB Business Services Training Package

BSBWHS303 Participate in WHS hazard identification, risk assessment and risk control


BSBWHS404 Contribute to WHS hazard identification, risk assessment and risk control


BSBWHS503 Contribute to the systematic management of WHS risk BSB Business Services Training Package

BSBWHS504 Manage WHS risks BSB Business Services Training Package

BSBWHS507 Contribute to managing WHS information systems BSB Business Services Training Package

BSBWHS508 Manage WHS hazards associated with plant BSB Business Services Training Package

BSBWHS510 Contribute to implementing emergency procedures BSB Business Services Training Package

BSBWHS603 Implement WHS risk management BSB Business Services Training Package

BSBWHS604 Evaluate the WHS performance of organisations BSB Business Services Training Package

BSBWHS605 Develop, implement and maintain WHS management sys-tems BSB Business Services Training Package

BSBWHS606 Conduct a WHS audit BSB Business Services Training Package

31



Imported unit code Imported unit title OriginBSBWHS607 Apply ergonomics to manage WHS risks BSB Business Services

Training Package

BSBWHS608 Assist with applying occupational hygiene to manage WHS risks BSB Business Services Training Package

BSBWHS609 Advise on the application of safe design principles to con-trol WHS risks


BSBWOR203 Work effectively with others BSB Business Services Training Package

BSBWOR204 Use business technology BSB Business Services Training Package

BSBWOR301 Organise personal work priorities and development BSB Business Services Training Package

BSBWOR404 Develop work priorities BSB Business Services Training Package

BSBWOR501 Manage personal work priorities and professional devel-opment BSB Business Services Training Package

BSBWOR502 Lead and manage team effectiveness BSB Business Services Training Package

BSBWRT301 Write simple documents BSB Business Services Training Package

CHCCM501A Coordinate complex case requirements CHC08 Community Services Training Package

CHCCM504D Promote high quality case management CHC08 Community Services Training Package

CHCCOM403A Use targeted communication skills to build relationships CHC08 Community Services Training Package

CHCCSL507B Support clients in decision-making process CHC08 Community Services Training Package

CHCCW503A Work intensively with clients CHC08 Community Services Training Package

CHCDIS411A Communicate using argumentative and alternative com-munication strategies

CHC08 Community Services Training Package

CHCDIS509E Maximise participation in work by people with disabilities CHC08 Community Services Training Package

32



Imported unit code Imported unit title OriginCHCDIS511A Coordinate services for people with disabilities CHC08 Community Services

Training Package

CHCICS410A Support relationships with carers and families CHC08 Community Services Training Package

CHCORG303C Participate effectively in the work environment CHC08 Community Services Training Package

CHCTC302B Provide client-centred telephone counselling CHC08 Community Services Training Package

CULEVP401A Present information on activities, events and public pro-grams CUL11 Library, Information and Cultural Services Training Package

HLTHIR403C Work effectively with culturally diverse clients and co-workers HLT Health Training Package

MSAPMSUP390A Use structured problem solving tools MSA07 Manufacturing Training Package

PSPFRAU502B Anticipate and detect possible fraud activity PSP12 Public Sector Training Package

PSPFRAU504B Conduct fraud risk assessments PSP12 Public Sector Training Package

PSPFRAU505B Develop fraud control plans PSP12 Public Sector Training Package

PSPGOV415A Provide workplace coaching PSP12 Public Sector Training Package

PSPGOV509A Conduct evaluations PSP12 Public Sector Training Package

PSPGOV511A Provide leadership PSP12 Public Sector Training Package

PSPGOV516A Develop and use emotional intelligence PSP12 Public Sector Training Package

PSPIM402A Undertake initial rehabilitation assessments PSP12 Public Sector Training Package

PSPIM404A Conduct situational workplace assessments PSP12 Public Sector Training Package

PSPIM405A Develop return to work plans PSP12 Public Sector Training Package

33

Imported unit code Imported unit title OriginPSPIM406A Implement and monitor return to work plans PSP12 Public Sector Training

Package

PSPIM504A Contribute to a quality injury management system PSP12 Public Sector Training Package

TAEDEL402A Plan, organise and facilitate learning in the workplace TAE Training and Education Training Package

TAEDEL404A Mentor in the workplace TAE Training and Education Training Package

34 35

Appendix 2 Mapping information

Mapping informationThe information provided is a general summary only. IBSA recommends using the Compare Content Tool available on the training.gov.au (TGA) website for more information about specific changes. Visit https://www.youtube.com/watch?v=EjhNe3Bu0H4 to watch a video on how to use this tool.

35



35

Qualification mappingMapping from FNS10 Financial Services Training Package version 5.1 to FNS Financial Services Training Package release 1.

Key: E = equivalent, N = not equivalent, N/A = not applicable

Qualification code and title FNS10 Financial Services version 5.1

Qualification code and title FNS Financial Services release 1

Comments E/N

FNS10110 Certificate I in Financial Services

FNS10115 Certificate I in Financial Services

Updated to meet Standards for Training Packages

Minor changes to unit titles

E




Minor changes to unit titles

E



Updated to meet Standards for Training Packages E

FNS30210 Certificate III in Personal Injury Management (Claims Management)

FNS30215 Certificate III in Personal Injury Management


Title revised

E










Simplification of packaging rules

E




Packaging rules updated

Elective units added to provide greater guidance and flexibility for industry

N








Reduced number of core units and additional compulsory elective units in Group A or B

E

36





Comments E/N

FNS40310 Certificate IV in Personal Injury Management (Claims Management)



Three qualifications merged to replace:

• FNS40310 Certificate IV in Personal Injury Management (Claims Management)

• FNS40410 Certificate IV in Personal Injury Management (Return to Work)

• FNS40510 Certificate IV in Personal Injury Management (Underwriting)

N

FNS40410 Certificate IV in Personal Injury Management (Return to Work)







N

FNS40510 Certificate IV in Personal Injury Management (Underwriting)







N





Core units increased from nine to ten

N







37



Comments E/N







Two qualifications merged to replace:


• FNS41211 Certificate IV in Mobile Banking

All units of competency retained and organised in groups (sales and marketing, lending, mobile banking and general) to provide advice on the selection of electives

N

FNS41110 Certificate IV in Financial Markets Operations

FNS41115 Certificate IV in Financial Markets Operations


FNS41211 Certificate IV in Mobile Banking



Two qualifications merged to replace:


• FNS41211 Certificate IV in Mobile Banking

All units of competency retained and organised in groups (sales and marketing, lending, mobile banking and general) to provide advice on the selection of electives

N







Simplified packaging rules

E




FNS41611 Certificate IV in Loss Adjusting

Removed Qualification no longer meets industry requirements

N/A




Significant change to packaging rules

N




38



Comments E/N




Packaging rules updated:

• Core units revised - core reduced from four to three units

• Electives added and groupings provided (electives increased from eight to nine)

N




Entry requirements removed

Prerequisite units updated

Packaging rules updated with additional elective units

Number of core units increase from nine to 11

N




FNS50411 Diploma of Conveyancing

BSB52015 Diploma of Conveyancing

Qualification transferred from Financial Services Training Package to Business Services Training Package

Qualification better suited to Business Services due to legal rather than financial focus of the qualification

E













Packaging rules changed

Core units reduced from five to four


N

39





Comments E/N




Packaging rules simplified

E







Packaging rules have been simplified and clarified

Core units reduced from three to two

E




Significant changes to qualification packaging rules

Total number of units reduced from 13 to 10

Prerequisites updated

N







Changes to packaging rules

Six core units changed to seven core units

N







FNS51710 Diploma of Applied Anti-Money Laundering and Counter Terrorism Financing Management

FNS51715 Diploma of Applied Anti-Money Laundering and Counter Terrorism Financing Management


Packaging rules updated to address industry needs

Number of units overall has been reduced from 13 to 10

Number of core and elective units changed

N




40





Comments E/N




Changes to packaging rules:

• Core – three units retained and two additional units

• Electives – One unit removed and 16 units added

N




Entry requirements removed

Prerequisite units updated for three units


Ten elective units added to address prerequisite requirements

N

FNS60311 Advanced Diploma of Conveyancing

BSB61115 Advanced Diploma of Conveyancing


Qualification transferred from Financial Services Training Package to Business Services Training Package

Qualification better suited to Business Services due to legal rather than financial focus of the qualification

E





E




Clarification of packaging rules and removal of duplicated electives

E




Packaging rules simplified

Core reduced from nine to eight units

E





E

41



Comments E/N




Prerequisite unit updated

E

42

Skill sets mappingMapping from FNS10 Financial Services Training Package version 5.1 to FNS Financial Services Training Package release 1.


Skill set code and title FNS10 Financial Services version 5.1

Skill set code and title FNS Financial Services release 1

Comments E/N

FNSSS00001 BAS Agent Registration Skill Set

FNSSS00004 BAS Agent Registration Skill Set


N/A FNSSS00005 Commercial Law for Tax Agents Skill Set

New Skill Set N/A

N/A FNSSS00006 Commercial Law for Tax (Financial) Advisers Skill Set

New Skill Set N/A




N/A FNSSS00008 Tax Law for Tax Agents Skill Set (Tax documentation)

New Skill Set N/A

N/A FNSSS00009 Tax Law for Tax Agents Skill Set (Tax plans)

New Skill set N/A

43



Unit mappingMapping from FNS10 Financial Services Training Package version 5.1 to FNS Financial Services Training Package release 1.


Unit code and title FNS10 Financial Services version 5.1

Unit code and title FNS Financial Services release 1

Comments E/N

FNSACC301A Process financial transactions and extract interim reports

FNSACC301 Process financial transactions and extract interim reports


FNSACC302A Administer subsidiary accounts and ledgers

FNSACC302 Administer subsidiary accounts and ledgers


FNSACC303A Perform financial calculations

FNSACC303 Perform financial calculations


FNSACC401A Process business tax requirements

FNSACC401 Process business tax requirements


FNSACC402A Prepare operational budgets

FNSACC402 Prepare operational budgets


FNSACC403B Make decisions in a legal context

FNSACC403 Make decisions in a legal context


FNSACC404A Prepare financial statements for non-reporting entities

FNSACC404 Prepare financial statements for non-reporting entities


FNSACC405A Maintain inventory records

FNSACC405 Maintain inventory records


FNSACC406A Set up and operate a computerised accounting system

FNSACC406 Set up and operate a computerised accounting system


FNSACC407A Produce job costing information

FNSACC407 Produce job costing information


FNSACC501A Provide financial and business performance information

FNSACC501 Provide financial and business performance information


44





Comments E/N

FNSACC502B Prepare legally compliant tax returns for individuals



Title changed

Edits and reordering of performance criteria to clarify intent

E

FNSACC503A Manage budgets and forecasts

FNSACC503 Manage budgets and forecasts


FNSACC504A Prepare financial reports for corporate entities

FNSACC504 Prepare financial reports for corporate entities


Edits to clarify intent of elements


N

FNSACC505A Establish and maintain accounting information systems

FNSACC505 Establish and maintain accounting information systems


Rewording and combining of some performance criteria to clarify intent of unit

E

FNSACC506A Implement and maintain internal control procedures

FNSACC506 Implement and maintain internal control procedures


FNSACC507A Provide management accounting information



Minor rewording and reordering of performance criteria to clarify intent of unit

E

FNSACC601B Prepare and administer compliant tax returns for legal entities



Title updated

Edits to clarify intent and update to meet industry requirements

E

FNSACC602A Audit and report on financial systems and records

FNSACC602 Audit and report on financial systems and records


FNSACC603A Implement tax plans and evaluate tax compliance

FNSACC603 Implement tax plans and evaluate tax obligations


Updated title

Editing and reordering of elements and performance criteria to clarify and update to industry requirements

E

45



Comments E/N

FNSACC604A Monitor corporate governance activities

FNSACC604 Monitor corporate governance activities


FNSACC605A Implement organisational improvement programs

FNSACC605 Implement organisational improvement programs


FNSACC606A Conduct internal audit

FNSACC606 Conduct internal audit


FNSACC607A Evaluate business performance

FNSACC607 Evaluate business performance


Prerequisite updated

N

FNSACC608A Evaluate organisation's financial performance

FNSACC608 Evaluate organisation's financial performance



N

FNSACC609A Evaluate financial risk

FNSACC609 Evaluate financial risk


Minor edits to clarify intent of element


N

FNSACC610A Develop and implement financial strategies

FNSACC610 Develop and implement financial strategies



N

FNSACC611A Implement an insolvency program

FNSACC611 Implement an insolvency program


FNSACC612A Implement reconstruction plan

FNSACC612 Implement reconstruction plan


Edits to clarify legislative requirements

E

FNSACC613A Prepare and analyse management accounting information



Rewritten and ordered performance criteria to clarify intent of elements

E

FNSACC614A Prepare complex corporate financial reports

FNSACC614 Prepare complex corporate financial reports


FNSACM301A Administer financial accounts

FNSACM301 Administer financial accounts


FNSACM302A Prepare, match and process receipts

FNSACM302 Prepare, match and process receipts


Minor edits to clarify intent of performance criteria

E

46



Comments E/N

FNSACM303A Process payment documentation

FNSACM303 Process payment documentation


FNSACM401A Evaluate and authorise payment requests

FNSACM401 Evaluate and authorise payment requests


Minor rewording to clarify intent of performance criteria

E

FNSASIC301C Establish client relationship and analyse needs



FNSASIC302C Develop, present and negotiate client solutions



FNSASIC303A Provide advice on first home saver account deposit products and non-cash payments



FNSASIC304A Provide Tier 2 general advice in general insurance

FNSASIC304 Provide Tier 2 general advice in general insurance


FNSASIC305A Provide Tier 2 personal advice in general insurance

FNSASIC305 Provide Tier 2 personal advice in general insurance


FNSASICL503A Provide advice in the regulated emissions market

FNSASICL503 Provide advice in the regulated emissions market


FNSASICM503A Provide Tier 1 personal advice in life insurance

FNSASICM503 Provide Tier 1 personal advice in life insurance


FNSASICN503A Provide Tier 1 personal advice in general insurance

FNSASICN503 Provide Tier 1 personal advice in general insurance


FNSASICO503A Provide Tier 1 general advice in general insurance

FNSASICO503 Provide Tier 1 general advice in general insurance


47





Comments E/N

FNSASICQ503A Provide advice in first home saver market linked accounts

FNSASICQ503 Provide advice in first home saver market linked accounts


FNSASICR503A Provide advice in margin lending

FNSASICR503 Provide advice in margin lending


FNSASICS503A Provide advice in foreign exchange

FNSASICS503 Provide advice in foreign exchange


FNSASICT503A Provide advice in managed investments

FNSASICT503 Provide advice in managed investments


FNSASICU503A Provide advice in superannuation

FNSASICU503 Provide advice in superannuation


FNSASICV503A Provide advice in derivatives

FNSASICV503 Provide advice in derivatives


FNSASICW503A Provide advice in securities

FNSASICW503 Provide advice in securities


FNSASICX503A Provide advice in life insurance

FNSASICX503 Provide advice in life insurance


FNSASICY503A Provide advice in insurance broking

FNSASICY503 Provide advice in insurance broking


Prerequisites updated

N

FNSASICZ503A Provide advice in financial planning

FNSASICZ503 Provide advice in financial planning


Minor wording change to performance criteria

E

FNSBKG401A Develop and implement policies and procedures relevant to bookkeeping activities

FNSBKG401 Develop and implement policies and procedures relevant to bookkeeping activities


FNSBKG402A Establish and maintain a cash accounting system




E

FNSBKG403A Establish and maintain an accrual accounting system




E

48





Comments E/N

FNSBKG404A Carry out business activity and instalment activity statement tasks

FNSBKG404 Carry out business activity and instalment activity statement tasks


Edits to clarify intent of performance criteria

Elements three and four merged

E

FNSBKG405A Establish and maintain a payroll system

FNSBKG405 Establish and maintain a payroll system


Wording changes

New element and reordering of performance criteria to clarify intent and update to industry requirements

E

FNSBNK401A Coordinate a small business customer portfolio

FNSBNK401 Coordinate a small business customer portfolio


Rewritten and combined performance criteria

E

FNSBNK402A Align banking products with the needs of small business customers

FNSBNK402 Align banking products with the needs of small business customers


FNSBNK403A Provide services in a Business Transaction Centre

FNSBNK403 Provide services in a Business Transaction Centre


FNSBNK404A Promote mobile banking services

FNSBNK404 Promote mobile banking services


FNSBNK405A Provide mobile banking sales and service

FNSBNK405 Provide mobile banking sales and service


FNSBNK406A Manage customer visits

FNSBNK406 Manage customer visits


FNSBNK501A Manage banking and service strategy for small business customers

FNSBNK501 Manage banking and service strategy for small business customers


Minor edits and reordering of performance criteria

E

FNSBNK502A Manage services in a Business Transaction Centre

FNSBNK502 Manage services in a Business Transaction Centre


49



Comments E/N

FNSBNK503A Provide business advisory services within a financial services context

FNSBNK503 Provide business advisory services within a financial services context


Rewritten and combined performance criteria

E

FNSCMP501A Comply with financial services legislation

FNSCMP501 Comply with financial services legislation


FNSCRD301A Process applications for credit

FNSCRD301 Process applications for credit


Industry updates

Some performance criteria rewritten for clarification

E

FNSCRD302A Monitor and control accounts receivable

FNSCRD302 Monitor and control accounts receivable


FNSCRD401A Assess credit applications

FNSCRD401 Assess credit applications


Performance criteria rewritten and reordered for clarification

E

FNSCRD402A Establish and maintain appropriate securitisation

FNSCRD402 Establish and maintain appropriate security


Title changed

Rewording of performance criteria for clarification

E

FNSCRD403A Manage and recover bad and doubtful debts

FNSCRD403 Manage and recover bad and doubtful debts


Changes to wording to clarify performance criteria

E

FNSCRD404A Utilise the legal process to recover outstanding debt

FNSCRD404 Utilise the legal process to recover outstanding debt


Rewritten and clarified performance criteria

E

FNSCRD405A Manage overdue customer accounts

FNSCRD405 Manage overdue customer accounts



E

FNSCRD501A Respond to personal insolvency situations

FNSCRD501 Respond to personal insolvency situations



E

50



Comments E/N

FNSCRD502A Manage factoring and invoice discounting arrangements

FNSCRD502 Manage factoring and invoice discounting arrangements



E

FNSCRD503A Promote understanding of the role and effective use of consumer credit

FNSCRD503 Promote understanding of the role and effective use of consumer credit


Rewritten and clarified elements and performance criteria

E

FNSCRD504A Manage the credit relationship

FNSCRD504 Manage the credit relationship



E

FNSCRD505A Respond to corporate insolvency situations

FNSCRD505 Respond to corporate insolvency situations



E

FNSCUS301A Respond to customer enquiries

FNSCUS301 Respond to customer enquiries


FNSCUS401A Participate in negotiations

FNSCUS401 Participate in negotiations


FNSCUS402A Resolve disputes

FNSCUS402 Resolve disputes Updated to meet Standards for Training Packages E

FNSCUS403A Deliver a professional service to customers

FNSCUS403 Deliver a professional service to customers


FNSCUS501A Develop and nurture relationships with clients, other professionals and third party referrers

FNSCUS501 Develop and nurture relationships with clients, other professionals and third party referrers


FNSCUS502A Monitor client requirements

FNSCUS502 Monitor client requirements


Minor edits to clarify performance criteria

E

FNSCUS503A Review business performance

FNSCUS503 Review business performance


FNSCUS504A Manage premium customer relationships

FNSCUS504 Manage premium customer relationships


FNSCUS505A Determine client requirements and expectations



51





Comments E/N

FNSCUS506A Record and implement client instructions



FNSCUS601A Establish, manage and monitor key relationships

FNSCUS601 Establish, manage and monitor key relationships


FNSFLT201A Develop and use a personal budget

FNSFLT201 Develop and use a personal budget


Minor edits to reflect AQF level

E

FNSFLT202A Develop and use a savings plan

FNSFLT202 Develop and use a savings plan



E

FNSFLT203A Develop an understanding of debt and consumer credit

FNSFLT203 Develop knowledge of debt and consumer credit


Title changed


E

FNSFLT204A Develop an understanding of superannuation

FNSFLT204 Develop knowledge of superannuation


Title changed


E

FNSFLT205A Develop an understanding of the Australian financial system and markets

FNSFLT205 Develop knowledge of the Australian financial system and markets


Title changed


E

FNSFLT206A Develop an understanding of taxation

FNSFLT206 Develop knowledge of taxation


Title changed Minor edits to reflect AQF level

E

FNSFLT301A Be MoneySmart FNSFLT301 Be MoneySmart Updated to meet Standards for Training Packages


E

FNSFLT401A Be MoneySmart through a career in Small Business

FNSFLT401 Be MoneySmart through a career in Small Business



E

FNSFLT501A Assist customers to budget and manage own finances

FNSFLT501 Assist customers to budget and manage own finances


52





Comments E/N

FNSFLT502A Facilitate customer awareness of the Australian financial system and markets

FNSFLT502 Facilitate customer awareness of the Australian financial system and markets


FNSFLT503A Promote basic financial literacy skills

FNSFLT503 Promote basic financial literacy skills


FNSFLT504A Facilitate customer understanding of personal financial statements

FNSFLT504 Facilitate customer understanding of personal financial statements


Revised title

E

FNSFLT505A Facilitate customer or employee understanding of superannuation as an investment tool

FNSFLT505 Facilitate customer or employee understanding of superannuation as an investment tool


Revised title

E

FNSFMB401A Prepare loan application on behalf of finance or mortgage broking clients

FNSFMB401 Prepare loan application on behalf of finance or mortgage broking clients



E

FNSFMB402A Provide finance and mortgage broking services

FNSFMB402 Identify client needs for broking services


Title changed to better reflect unit


E

FNSFMB403A Present broking options to client

FNSFMB403 Present broking options to client



E

FNSFMB501A Settle applications and loan arrangements in the finance and mortgage broking industry

FNSFMB501 Settle applications and loan arrangements in the finance and mortgage broking industry



E

FNSFMB502A Identify and develop complex broking options for client

FNSFMB502 Identify and develop broking options for clients with complex needs


Title changed

Minor edits to clarify intent of per-formance criteria

E

53



Comments E/N

FNSFMB503A Present broking options to client with complex needs

FNSFMB503 Present broking options to client with complex needs


Minor edits to clarify intent and remove repetition

E

FNSFMB504A Implement complex loan structures

FNSFMB504 Implement complex loan structures



E

FNSFMK401A Reconcile financial transactions

FNSFMK401 Reconcile financial transactions


Rewritten and reorganised performance criteria to clarify intent of unit

E

FNSFMK402A Develop and maintain knowledge of financial markets products

FNSFMK402 Develop and maintain knowledge of financial markets products


FNSFMK403A Interpret financial markets information

FNSFMK403 Interpret financial markets information





Minor edits for clarification

E

FNSFMK502A Analyse financial market products for client



Rewritten and clarified elements and performance criteria

N

FNSFMK503A Advise clients on financial risk



Clarified and reordered performance criteria

E

FNSFMK504A Complete settlement and confirmation processes

FNSFMK504 Complete confirmation and settlement processes


Title changed

E

FNSFMK505A Comply with financial services legislation and industry codes of practice

FNSFMK505 Comply with financial services legislation and industry codes of practice


Rewritten and clarified performance criteria in elements one to three

E

FNSFMK506A Detect errors and fraud when processing financial transactions

FNSFMK506 Detect errors and fraud when processing financial transactions


54



Comments E/N

FNSFMK507A Analyse risk mitigation in the operations process

FNSFMK507 Analyse risk mitigation in the operations process



E

FNSFMK508A Monitor and process collateral

FNSFMK508 Monitor and process collateral


Rewording and clarification of performance criteria

E

FNSFMK509A Apply knowledge of transaction documentation and processing

FNSFMK509 Process transaction documentation


Title changed

Rewritten and reorganised performance criteria to clarify unit intent

E

FNSFMK510A Prepare trading strategies for clients

FNSFMK510 Prepare trading strategies for clients



E

FNSFMK511A Apply limits when trading

FNSFMK511 Apply limits when trading



E

FNSFMK512A Apply knowledge of emissions markets

FNSFMK512 Apply knowledge of emissions markets


FNSFMK601A Price financial transactions

FNSFMK601 Price financial transactions



E

FNSFMK602A Hedge financial products

FNSFMK602 Hedge financial products


Rewritten and reorganised performance criteria to clarify intent of unit.

E

FNSFPL401A Extract and analyse information on specified financial strategies and products

FNSFPL401 Extract and analyse information on specified financial strategies and products


FNSFPL402A Prepare financial plans to set strategies and guidelines

FNSFPL402 Prepare financial plans to set strategies and guidelines


55





Comments E/N

FNSFPL403A Implement financial plans to predetermined guidelines

FNSFPL403 Implement financial plans to predetermined guidelines



E

FNSFPL501A Comply with financial planning practice ethical and operational guidelines and regulations

FNSFPL501 Comply with financial planning practice ethical and operational guidelines and regulations



E

FNSFPL502A Conduct financial planning analysis and research



Minor rewording and reorganisation of performance criteria to clarify intent of unit

E

FNSFPL503A Develop and prepare financial plan



Minor rewording and reorganisation to clarify intent of performance criteria

E

FNSFPL504A Implement financial plan



FNSFPL505A Review financial plans and provide ongoing service



FNSFPL506A Determine client requirements and expectations

FNSFPL506 Determine client financial requirements and expectations


Title changed

E

FNSFPL507A Provide financial planning advice

FNSFPL507 Provide financial planning advice


FNSFPL508A Conduct complex financial planning research

FNSFPL508 Conduct complex financial planning research


FNSFPL601A Provide technical and professional guidance

FNSFPL601 Provide technical and professional guidance


FNSFPL602A Determine client requirements and expectations for clients with complex needs

FNSFPL602 Determine client requirements and expectations for clients with complex needs


56





Comments E/N

FNSFPL603A Provide comprehensive monitoring and ongoing service

FNSFPL603 Provide comprehensive monitoring and ongoing service



E

FNSFPL604A Develop complex and innovative financial planning strategies

FNSFPL604 Develop complex and innovative financial planning strategies


FNSFPL605A Present and negotiate complex and innovative financial plans

FNSFPL605 Present and negotiate complex and innovative financial plans


FNSFPL606A Implement complex and innovative financial plans

FNSFPL606 Implement complex and innovative financial plans



E

FNSIAD301A Provide general advice on financial products and services

FNSIAD301 Provide general advice on financial products and services


FNSIAD501A Provide appropriate services, advice and products to clients



FNSIAD502A Provide appropriate and timely information and advice to clients

FNSIAD502 Provide appropriate and timely information and advice to clients


FNSIBK301A Provide insurance broking services in response to a customer enquiry

Removed Industry advice to replace unit with BSBCUS301 Deliver and monitor a service to customers

N/A

FNSIBK302B Provide general advice in general insurance broking products and services

FNSIBK302 Provide general advice in general insurance broking products and services


Performance criteria rewritten, reduced and streamlined in all elements

E

57



Comments E/N

FNSIBK401A Research and analyse client and industry information for a broking risk assessment

FNSIBK401 Research, analyse and report information in insurance broking


Title changed

Significant changes to wording in elements and performance criteria

Unit is broader, with focus on ‘risk’ removed from research activities

N

FNSIBK402B Provide personal advice in general insurance broking products and services

FNSIBK402 Implement new or renewed insurance program for insurance broking clients


Title changed

Significant wording changes

Elements and performance criteria clarified and updated to reflect industry practice

N

FNSIBK403A Implement an agreed insurance program for a broking client

FNSIBK403 Place client insurances with insurer and confirm insurance cover with clients


Title changed

Changes to elements and performance criteria to better reflect work practices

N

FNSIBK404A Provide a claims service to an insurance broking client

FNSIBK404 Provide a claims service to an insurance broking client


Elements combined and wording changes to performance criteria to better reflect work practices

E

FNSIBK405A Meet industry and legislative guidelines and organisational procedures relating to insurance broking

FNSIBK405 Meet industry and legislative guidelines and organisational procedures relating to insurance broking


Wording changes to elements and performance criteria to clarify intent and to better reflect industry practice

N

FNSIBK501B Provide general advice in general insurance broking products and services


FNSIBK513 covers both general and personal advice to broking clients

N

FNSIBK502B Provide general advice in life insurance broking products and services


FNSIBK513 covers both general and personal advice to broking clients

N

FNSIBK503B Provide personal advice in general insurance broking products and services


Revised unit covers FNSIBK503B and FNSIBK504B to reflect industry practice

N

58



Comments E/N

FNSIBK504B Provide personal advice in life insurance broking products and services


Revised unit covers FNSIBK503B and FNSIBK504B to reflect industry practice

N

FNSIBK505A Undertake risk analysis for an insurance broking client


Unit no longer needed. Elements covered in 3 units - FNSIBK513, FNSIBK514 and FNSIBK515

N



Unit no longer needed as elements are covered in 3 units - FNSIBK513, FNSIBK514 and FNSIBK515

N



Unit no longer needed as elements are covered in 3 units - FNSIBK513, FNSIBK514 and FNSIBK515

N

FNSIBK506A Monitor broking clients


Revised unit merges FNSIBK506A and FNSIBK511A to better reflect industry practice

N

FNSIBK507A Review broking client service performance

FNSIBK507 Review service performance


Title changed

Edits to performance criteria and elements combined to clarify intent and better reflect industry practice

E

FNSIBK508A Implement changes to broking client’s insurance program

FNSIBK508 Implement changes to broking client’s insurance program


Changes to elements and performance criteria to better reflect industry practice

N

FNSIBK509A Identify and advise on significant risk changes to broking client insurances


Revised unit covers FNSIBK509A and FNSIBK510A

N

FNSIBK510A Assess and negotiate complex risk portfolio for broking client at renewal


Revised unit covers FNSIBK509A and FNSIBK510A

N

FNSIBK511A Review incidence of loss for broking clients


Revised unit merges FNSIBK506A and FNSIBK511A to better reflect industry practice

N

59





Comments E/N

FNSIBK512A Negotiate complex claims settlement for insurance broking client

FNSIBK512 Negotiate complex claims settlement for insurance broking client


Wording changes to performance criteria to better reflect industry practice

E

FNSIBK601A Develop guidelines for broking services

FNSIBK601 Develop guidelines for broking services


Prerequisite unit removed

Minor wording changes to performance criteria

N

FNSIBK602A Implement broking service support systems

FNSIBK602 Manage implementation of broking service support systems


Minor wording changes to some performance criteria

E

FNSIBK603A Manage contractual obligations for insurance and insurance broking products

FNSIBK603 Manage contractual, legislative and code of practice obligations and requirements


Wording changes to title, elements and performance criteria to clarify intent and to better reflect industry practice

E

FNSIBK604A Develop and manage marketing plans for an insurance broking business

FNSIBK604 Manage a sales plan for insurance broking services


Title changed

Elements deleted to reduce repetition

N

FNSIBK605A Manage insurance brokerage service performance

FNSIBK607 Lead ethical work practices in an insurance brokerage


Major changes to focus on the ethical dimensions of broking practice

N

FNSIBK606A Manage compliance requirements for an insurance broking business

FNSIBK606 Manage compliance requirements for an insurance broking business



E

FNSIGN401A Provide technical guidance

FNSIGN401 Provide technical guidance


FNSIGN402A Inspect quality of work

FNSIGN402 Inspect quality of work



E

FNSIGN403A Estimate jobs FNSIGN403 Estimate jobs Updated to meet Standards for Training Packages E

FNSIGN404A Inspect damage and develop scope of work

FNSIGN404 Inspect damage and develop scope of work


60





Comments E/N

FNSIGN405A Inspect vehicle systems and components and determine preferred repair action

Removed Not required by industry N/A

FNSIGN406A Inspect vehicle or property for saleable items and determine their value

FNSIGN406 Inspect property for saleable items and determine their value


Industry update - reference to vehicles removed from unit

N

FNSILA501A Plan and implement loss investigation

FNSILA501 Plan and implement loss investigation


FNSILA502A Evaluate collected information

FNSILA502 Evaluate collected information


FNSILA503A Report findings and provide guidance to involved parties

FNSILA503 Report findings and provide guidance to involved parties


FNSILA504A Negotiate and effect settlement

FNSILA504 Negotiate and effect settlement


FNSILA505A Provide ancillary services

FNSILA505 Provide ancillary services


FNSILD501A Prepare a distribution plan

FNSILD501 Prepare a distribution plan


FNSILD502A Resource a distribution plan

FNSILD502 Resource a distribution plan





FNSILD504A Implement and manage the distribution plan

FNSILD504 Implement and manage the distribution plan


FNSILF302A Process a life insurance application

FNSILF302 Process a life insurance application


Minor rewording of performance criteria to clarify intent

E

FNSILF303A Issue a life insurance policy

FNSILF303 Issue a life insurance policy


61



Comments E/N

FNSILF401A Contribute to the life risk underwriting process

FNSILF401 Contribute to the life risk underwriting process



E

FNSILF402A Settle policy payments and terminations

FNSILF402 Settle policy payments and terminations


Minor edits to clarify intent of elements

E

NSILF403A Develop and maintain in-depth knowledge of products and services used by the Life Insurance sector

FNSILF403 Develop and maintain in-depth knowledge of products and services used by the life insurance sector


FNSILF404A Process requests for policy alterations and assignments

FNSILF404 Process requests for policy alterations and assignments


FNSILF405A Evaluate life insurance claims

FNSILF405 Evaluate life insurance claims


FNSILF406A Collect and manage information to facilitate claims assessment

FNSILF406 Collect and manage information to facilitate claims assessment



E

FNSILF407A Settle life insurance claims

FNSILF407 Settle life insurance claims



E

FNSILF408A Process life insurance contract maturity and surrender payment requests

FNSILF408 Process life insurance contract maturity and surrender payment requests


Minor edits to clarify intent of elements

E

FNSILF501A Assess extraordinary risks

FNSILF501 Assess extraordinary risks



E

FNSILF502A Underwrite complex medical risks

FNSILF502 Underwrite complex medical risks



E

62



Comments E/N

FNSILF503A Underwrite complex non-medical risks

FNSILF503 Underwrite complex non-medical risks



E

FNSILF504A Manage complex life insurance claims

FNSILF504 Manage complex life insurance claims


FNSILF505A Manage ongoing disability claims

FNSILF505 Manage ongoing disability claims


FNSILF506A Manage group life insurance claims

FNSILF506 Manage group life insurance claims


FNSILF507A Manage group life insurance policy administration

FNSILF507 Manage group life insurance policy administration


FNSINC301A Work effectively in the financial services industry

FNSINC301 Work effectively in the financial services industry


FNSINC401A Apply principles of professional practice to work in the financial services industry

FNSINC401 Apply principles of professional practice to work in the financial services industry


FNSINC402A Develop and maintain in-depth knowledge of products and services used by an organisation or sector

FNSINC402 Develop and maintain in-depth knowledge of products and services used by an organisation or sector


Minor edits and reordering to clarify intent of performance criteria

E

FNSINC501A Conduct product research to support recommendations

FNSINC501Conduct product research to support recommendations


FNSINC601A Apply economic principles to work in the financial services industry

FNSINC601 Apply economic principles to work in the financial services industry



E

FNSINC602A Interpret and use financial statistics and tools

FNSINC602 Interpret and use financial statistics and tools


FNSISV301A Evaluate risk for renewal business

FNSISV301 Evaluate risk for renewal business


FNSISV302A Process alteration to insurance policy

FNSISV302 Process alteration to insurance policy


63





Comments E/N

FNSISV303A Issue contract of insurance

FNSISV303 Issue contract of insurance


FNSISV304A Issue renewal advice

FNSISV304 Issue insurance renewal advice


Minor changes to clarify intent of element

E

FNSISV305A Issue cancellation advice

FNSISV305 Issue insurance cancellation advice


FNSISV306A Receive and record or register a claim

FNSISV306 Receive and record or register a claim


FNSISV307A Follow organisation procedures to process claim

FNSISV307 Follow organisation procedures to process claim



E

FNSISV308A Process facultative and treaty reinsurance claim

FNSISV308 Process facultative and treaty reinsurance claim


FNSISV309A Settle claims FNSISV309 Settle claims Updated to meet Standards for Training Packages E

FNSISV310A Process claims payments

FNSISV310 Process insurance claims payments


FNSISV401A Evaluate risk for new business

FNSISV401 Evaluate risk for new business



E

FNSISV402A Underwrite new business

FNSISV402 Underwrite new business


FNSISV403A Survey potential risk exposure

FNSISV403 Survey potential risk exposure


FNSISV404A Underwrite renewal business

FNSISV404 Underwrite renewal business


FNSISV405A Analyse insurance claims

FNSISV405 Analyse insurance claims


Minor changes and reordering of performance criteria

E

FNSISV406A Use specialist terminology in insurance claims

FNSISV406 Use specialist terminology in insurance claims


64





Comments E/N

FNSISV407A Use medical terminology in an insurance context

FNSISV407 Use medical terminology in an insurance context


FNSISV501A Issue contracts of insurance covering non-routine and complex situations

FNSISV501 Issue contracts of insurance covering non-routine and complex situations



E

FNSISV502A Review operational performance of the portfolio

FNSISV502 Review operational performance of the portfolio


FNSISV503A Undertake post-loss risk management

FNSISV503 Undertake post-loss risk management


FNSISV504A Negotiate treaty reinsurance

FNSISV504 Negotiate treaty reinsurance


FNSISV505A Determine risk rating for investment and insurance products

FNSISV505 Determine risk rating for investment and insurance products


FNSISV506A Investigate claims

FNSISV506 Investigate insurance claims


FNSISV507A Implement claim recovery procedures

FNSISV507 Implement claim recovery procedures


FNSISV508A Review and advise on claims costs, policies and procedures

FNSISV508 Review and advise on claims costs, policies and procedures


FNSISV509A Analyse financial, medical and psychological claims assessments

FNSISV509 Analyse financial, medical and psychological claims assessments


FNSISV510A Manage non-routine and complex claims

FNSISV510 Manage non-routine and complex claims



E

FNSISV511A Settle non-routine and complex claims

FNSISV511 Settle non-routine and complex claims


FNSISV512A Work with legal teams to resolve complex claims

FNSISV512 Work with legal teams to resolve complex claims


65



Comments E/N

FNSISV513A Provide decisions on legal liability and indemnity of a claim

FNSISV513 Provide decisions on legal liability and indemnity of a claim


FNSISV514A Review and update claim reserves in portfolio

FNSISV514 Review and update claim reserves in portfolio


Rewording and reordering of performance criteria to clarify intent

E

FNSISV515A Evaluate and report on status of claims portfolio

FNSISV515 Evaluate and report on status of claims portfolio


Minor changes to clarify intent of performance criteria

E

FNSISV516A Allocate authorities and guidelines for distribution

FNSISV516 Allocate authorities and guidelines for distribution


FNSISV517A Review claims settlement policies and procedures

FNSISV517 Review claims settlement policies and procedures


Minor changes to clarify intent of performance criteria

E

FNSMCA301A Collect debts FNSMCA301 Collect debts Updated to meet Standards for Training Packages


E

FNSMCA302A Repossess property

FNSMCA302 Repossess property



E

FNSMCA303A Serve legal process

FNSMCA303 Serve legal process



E

FNSMCA304A Locate subjects FNSMCA304 Locate subjects Updated to meet Standards for Training Packages


E

FNSMCA401A Develop and document case recommendations

FNSMCA401 Develop and document case recommendations



E

FNSMCA402A Initiate legal recovery of debts

FNSMCA402 Initiate legal recovery of debts


Rewritten, reordered and clarified performance criteria

E

66



Comments E/N

FNSORG301A Administer fixed asset register

FNSORG301 Administer fixed asset register


FNSORG401A Conduct individual work within a compliance framework

FNSORG401 Conduct individual work within a compliance framework


FNSORG501A Develop and manage a budget

FNSORG501 Develop and manage a budget


FNSORG502A Develop and monitor policy and procedures

FNSORG502 Develop and monitor policy and procedures


FNSORG503A Develop a resource plan

FNSORG503 Develop a resource plan


FNSORG504A Monitor and supervise work practices to meet financial services regulatory requirements

FNSORG504 Monitor and supervise work practices to meet financial services regulatory requirements


FNSORG505A Prepare financial reports to meet statutory requirements

FNSORG505 Prepare financial reports to meet statutory requirements


FNSORG506A Prepare financial forecasts and projections

FNSORG506 Prepare financial forecasts and projections



E

FNSORG507A Manage client service and business information

FNSORG507 Manage client service and business information



E

FNSORG508A Analyse and comment on management reports

FNSORG508 Analyse and comment on management reports


Minor edits to clarify intent

E

FNSORG601A Negotiate to achieve goals and manage disputes

FNSORG601 Negotiate to achieve goals and manage disputes


FNSORG602A Develop and manage financial systems

FNSORG602 Develop and manage financial systems


67





Comments E/N

FNSORG603A Establish and prepare operational guidelines in a financial services organisation

FNSORG603 Establish and prepare operational guidelines in a financial services organisation


FNSORG604A Establish outsourced services and monitor performance

FNSORG604 Establish outsourced services and monitor performance


FNSPIM301A Process benefit payments

FNSPIM301 Process benefit payments

Updated to meet Standards for Training Packages Industry updates

Minor rewording and ordering of performance criteria

E

FNSPIM302A Determine claim liability

FNSPIM302 Determine claim liability


FNSPIM303A Work within the personal injury management sector

FNSPIM303 Work within the personal injury management sector


Rewording and reordering of performance criteria to clarify intent and better reflect industry practice

E

FNSPIM304A Manage claims FNSPIM304 Assess and determine ongoing entitlements


Revised title and edits to performance criteria to clarify unit intent

E

FNSPIM401A Plan and implement rehabilitation and return to work and health strategies

FNSPIM401 Plan and implement rehabilitation and return to work and health strategies


FNSPIM402A Represent personal injury management agent or insurer at conciliation and review hearings

FNSPIM413 Assist with preparations for conciliation and review hearings

Unit split in two to reflect industry practice-FNSPIM413 and FNSPIM503

This unit focuses on ‘assisting’

N

FNSPIM402A Represent personal injury management agent or insurer at conciliation and review hearings

FNSPIM503 Represent personal injury management agent or insurer at reconciliation and review hearings

Unit split in two to reflect industry practice - FNSPIM413 and FNSPIM503

N

68





Comments E/N

FNSPIM403A Educate clients on personal injury management issues

FNSPIM403 Educate clients on personal injury management issues


FNSPIM404A Assist injured persons with job placement

FNSPIM404 Assist clients with job placement


Minor rewording to performance criteria. Terminology changed from ‘injured person’ to ‘client’

E

FNSPIM405A Facilitate a return to work

FNSPIM405 Facilitate a return to work


Minor rewording to performance criteria. Terminology changed from ‘injured person’ to ‘client’

E

FNSPIM406A Develop and maintain knowledge of personal injury management insurance

FNSPIM406 Develop and maintain knowledge of personal injury management insurance


FNSPIM407A Register policy FNSPIM407 Register policy Updated to meet Standards for Training Packages E

FNSPIM408A Renew and maintain policy

FNSPIM408 Renew and maintain policy


FNSPIM409A Maintain customer relationship

FNSPIM409 Maintain customer relationship


Element 4 deleted - not appropriate for sector

N

FNSPIM410A Collect, assess and use information

FNSPIM410 Collect, assess and use information



E

FNSPIM411A Manage personal injury case loads

FNSPIM414 Manage personal injury claims

Industry updates Unit split into two units – FNSPIM414 and FNSPIM415

N

FNSPIM411A Manage personal injury case loads

FNSPIM415 Manage personal injury case loads

Industry updates - unit split into two units – FNSPIM414 and FNSPIM415

N

FNSPIM412A Participate in formal communication processes

Removed Not required by industry N/A

FNSPIM501A Develop a return to work and health strategy

FNSPIM501 Develop a return to work or injury management strategy


Industry updates and rewording of PCs to reflect range of services undertaken in sector

E

69



Comments E/N

FNSPIM502A Facilitate workplace assessment with stakeholders for personal injury cases

FNSPIM502 Facilitate workplace assessment with stakeholders for personal injury cases


FNSPRM601A Establish, supervise and monitor practice systems to conform with legislation and regulations

FNSPRM601 Establish, supervise and monitor practice systems to conform with legislation and regulations



E

FNSPRM602A Improve the practice

FNSPRM602 Improve the practice


FNSPRM603A Grow the practice

FNSPRM603 Grow the practice Updated to meet Standards for Training Packages E

FNSPRM605A Establish or review marketing, client services and supplier relationships

FNSPRM605 Establish or review marketing, client services and supplier relationships



E

FNSPRM606A Establish or review human resources, administration and information support

FNSPRM606 Establish or review human resources, administration and information support



E

FNSPRT301A Establish entitlements to an intestate estate

FNSPRT301 Establish entitlements to an intestate estate



E

FNSPRT302A Administer a non-complex estate

FNSPRT302 Administer a non-complex estate


Rewritten, merged and clarified performance criteria

E

FNSPRT303A Administer a non-complex trust

FNSPRT303 Administer a non-complex trust



E

FNSPRT401A Administer an intestate estate

FNSPRT401 Administer an intestate estate



E

70



Comments E/N

FNSPRT402A Prepare a will FNSPRT402 Prepare a will Updated to meet Standards for Training Packages


E

FNSPRT403A Administer a complex estate

FNSPRT403 Administer a complex estate



E

FNSPRT404A Administer a complex trust

FNSPRT404 Administer a trust dealing with complex matters


Title changed

Rewritten and reordered performance criteria to clarify intent of unit

E

FNSPRT405A Establish powers of attorney

FNSPRT405 Establish powers of attorney or financial administration order


Title changed to better reflect unit

E

FNSPRT406A Administer powers of attorney or financial administration orders

FNSPRT406 Administer powers of attorney or financial administration orders



E

FNSPRT501A Advise clients on trust structures

FNSPRT501 Advise clients on trust structures



E

FNSPRT502A Advise clients in estate planning

FNSPRT502 Advise clients in estate planning



E

FNSPRT503A Allocate, assess and supervise work within the personal trustee sector

FNSPRT503 Assess, allocate and supervise work within the personal trustee sector



E

FNSRSK401A Implement risk management strategies

FNSRSK401 Implement risk management strategies


FNSRSK501A Undertake risk identification

FNSRSK501 Undertake risk identification



E

FNSRSK502A Assess risks FNSRSK502 Assess risks Updated to meet Standards for Training Packages E

71





Comments E/N

FNSRSK601A Develop and implement risk mitigation plan

FNSRSK601 Develop and implement risk mitigation plan


FNSRSK602A Determine and manage risk exposure strategies

FNSRSK602 Determine and manage risk exposure strategies


FNSRTS301A Provide customer service in a retail agency

FNSRTS301 Provide customer service in a retail agency


FNSRTS302A Handle foreign currency transactions

FNSRTS302 Handle foreign currency transactions


FNSRTS303A Balance retail transactions

FNSRTS303 Balance retail transactions


FNSRTS304A Administer debit card services

FNSRTS304 Administer debit card services



E

FNSRTS305A Process customer accounts

FNSRTS305 Process customer accounts


FNSRTS306A Process customer transactions

FNSRTS306 Process customer transactions


FNSRTS307A Maintain Automatic Teller Machine (ATM) services

FNSRTS307 Maintain Automatic Teller Machine (ATM) services


FNSRTS308A Balance cash holdings

FNSRTS308 Balance cash holdings


FNSRTS309A Maintain main bank account

FNSRTS309 Maintain main bank account


FNSRTS401A Manage credit card services

FNSRTS401 Manage credit card services


FNSRTS402A Prepare government returns and reports

FNSRTS402 Prepare government returns and reports


72





Comments E/N

FNSSAM301A Identify opportunities for cross-selling products and services

FNSSAM301 Identify opportunities for cross-selling products and services


FNSSAM401A Sell financial products and services

FNSSAM401 Sell financial products and services


FNSSAM402A Implement a sales plan

FNSSAM402 Implement a sales plan


FNSSAM403A Prospect for new clients

FNSSAM403 Prospect for new clients


FNSSAM501A Apply advanced selling techniques to selling of financial products and services

FNSSAM501 Apply advanced selling techniques to selling of financial products and services


FNSSAM502A Assess market needs

FNSSAM502 Assess market needs


FNSSAM503A Monitor market opportunities

FNSSAM503 Monitor market opportunities


FNSSAM601A Monitor performance in sales of financial products or services

FNSSAM601 Monitor performance in sales of financial products or services


FNSSAM602A Identify and evaluate marketing opportunities in the financial services industry

FNSSAM602 Identify and evaluate marketing opportunities in the financial services industry


FNSSAM603A Tailor financial products to meet customer needs

FNSSAM603 Tailor financial products to meet customer needs


FNSSAM604A Establish agreements with intermediaries for product distribution

FNSSAM604 Establish agreements with intermediaries for product distribution


FNSSMS401A Process self-managed superannuation contribution

FNSSMS401 Process self-managed superannuation contribution



E

73



Comments E/N

FNSSMS501A Invest self-managed superannuation funds assets

FNSSMS501 Invest self-managed superannuation funds assets



E

FNSSMS502A Manage changes to fund structure

FNSSMS502 Manage changes to fund structure



E

FNSSMS503A Manage administration activities of a superannuation fund

FNSSMS503 Manage administration activities of a superannuation fund



E

FNSSMS504A Meet self-managed superannuation fund compliance requirements

FNSSMS504 Meet self-managed superannuation fund compliance requirements



E

FNSSMS505A Support trustee in the selection and performance monitoring of outsourced services

FNSSMS505 Support trustee in the selection and performance monitoring of outsourced services



E

FNSSMS601A Provide advice in self-managed superannuation funds

FNSSMS601 Provide advice in self-managed superannuation funds


FNSSMS602A Apply taxation requirements when advising in self-managed superannuation funds

FNSSMS602 Consider taxation requirements when advising in self-managed superannuation funds


Title changed Rewritten, reordered and clarified performance criteria

E

FNSSMS603A Apply legislative and operational requirements to advising in self-managed superannuation funds

FNSSMS603 Apply legislative and operational requirements to advising in self-managed superannuation funds



E

FNSSUP301A Process superannuation fund payments

FNSSUP301 Process superannuation fund payments


FNSSUP302A Establish, maintain and process superannuation records

FNSSUP302 Establish, maintain and process superannuation records



E

74



Comments E/N

FNSSUP303A Process superannuation contributions

FNSSUP303 Process superannuation contributions


FNSSUP304A Process superannuation rollover benefits

FNSSUP304 Process superannuation rollover benefits


FNSSUP305A Implement member investment instructions

FNSSUP305 Implement member investment instructions



E

FNSSUP306A Terminate superannuation plans

FNSSUP306 Terminate superannuation plans


FNSSUP401A Process complex superannuation benefit or insurance claim

FNSSUP401 Process complex superannuation benefit or insurance claim



E

FNSSUP402A Assist in meeting superannuation compliance requirements

FNSSUP402 Assist in meeting superannuation compliance requirements


Minor edits and reordering of performance criteria to clarify intent of unit

E

FNSSUP403A Administer retirement income streams

FNSSUP403 Administer retirement income streams


Edits to clarify intent of elements

E

FNSSUP404A Establish and customise complex employer accounts

FNSSUP404 Establish and customise employer accounts


FNSSUP405A Implement fund review practices

FNSSUP408 Participate in fund review practices


Revised unit with a focus on ‘participate’ rather than ‘implement’

N

FNSSUP406A Establish and maintain fund or plan

FNSSUP406 Establish and maintain fund or plan


Rewording and reordering of performance criteria to clarify intent and better reflect industry practice

N

FNSSUP407A Assess complex superannuation benefit or insurance claims

FNSSUP407Assess complex superannuation benefit or insurance claims



E

75





Comments E/N

FNSSUP501A Supervise complaints procedures

FNSSUP501 Supervise complaints procedures


FNSSUP502A Supervise insurer liaison

FNSSUP502 Supervise insurer liaison


Edits, deletions and reordering of performance criteria to reflect industry practice

N

FNSSUP502A Supervise insurer liaison

FNSSUP510 Supervise insurance tender process


Revised unit including aspects of FNSSUP502A

N

FNSSUP503A Develop client relationships with employers and establish superannuation systems

FNSSUP503 Develop client relationships with employers and establish superannuation systems


FNSSUP504A Provide advanced customer service to superannuation clients

FNSSUP504 Provide advanced customer service to superannuation clients


FNSSUP505A Produce reports for superannuation

FNSSUP505 Produce reports for superannuation



E

FNSSUP506A Supervise and monitor operational guidelines in a superannuation organisation

FNSSUP506 Supervise and monitor operational guidelines in a superannuation organisation



E

FNSSUP507A Review compliance with regulatory and contractual requirements

FNSSUP507 Review compliance with regulatory and contractual requirements


FNSSUP508A Provide effective information to members

FNSSUP508 Provide effective information to members


FNSSUP509A Work within a defined benefit fund

FNSSUP509 Work within a defined benefit fund



E

FNSSUP601A Liaise with and support trustees

FNSSUP601 Liaise with and support trustees


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Comments E/N

FNSSUP602A Manage official complaints procedures and proceedings

FNSSUP602 Manage official complaints procedures and proceedings


FNSSUP603A Integrate investment strategy with fund operations

FNSSUP603 Integrate investment strategy with fund operations


FNSTPB501A Apply legal principles in corporations and trusts law

FNSTPB504 Apply legal principles in corporations and trusts law


Wording changes and clarification of performance criteria

E

FNSTPB502A Apply legal principles in commercial and property law

FNSTPB505 Apply legal principles in property law


Wording changes and renumbering of performance criteria to clarify intent of unit

E

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New FNS units



Comments E/N

N/A FNSIBK406 Deliver professional insurance broking services

New unit covering foundation broking skills N/A

N/A FNSIBK608 Establish and maintain strategic networks and collaborative relationships

New unit N/A

FNSINC402A Develop and maintain in-depth knowledge of products and services used by an organisation or sector

FNSINC502 Assess financial products and services vulnerability to money laundering and terrorism financing

New unit based on FNSINC402A N

N/A FNSPIM504 Manage impairment benefit claims

New unit N/A

N/A FNSPIM505 Use medical knowledge in the management of personal injury claims

New unit N/A

N/A FNSTPB503 Apply legal principles in consumer and contract law

New unit N/A

N/A FNSTPB506 Apply taxation requirements when providing tax (financial) advice services

New Unit N/A

N/A FNSTPB507 Apply legal principles in commercial law when providing tax (financial) advice services

New Unit N/A

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These materials were developed by Innovation & Business Skills Australia in association with the Commonwealth Government through the Department of Education and Training.

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While care has been taken in the preparation of this material, Department of Education and Training and the original developer do not warrant that any licensing or registration requirements specified here are either complete or up-to-date for your State or Territory. The Department of Education and Training and the original developer do not accept any liability for any damage or loss (including indirect and consequential loss) incurred by any person as a result of relying on the information contained in this material.

The Commonwealth, through the Department of Education and Training, does not accept any liability to any person for the information or advice (or the use of such information or advice) which is provided in this material or incorporated into it by reference. The information is provided on the basis that all persons accessing this material undertake responsibility for assessing the relevance and accuracy of its content. No liability is accepted for any information or services which may appear in any other format. No responsibility is taken for any information or services which may appear on any linked websites.

Published by: Innovation & Business Skills Australia Level 11, 176 Wellington Parage East Melbourne VIC 3002 Phone: +61 3 9815 7000 Fax: +61 3 9815 7001 www.ibsa.org.au email: [email protected]

First Published: March 2015 Stock code: CP-FNSTPIG1 ISBN: 978-1-925123-34-0 Print version no: 1.0 Release Date: March 2015

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