Financial Services

Business Skills Victoria covers the Financial Services Industry in Victoria. To work within this industry you require specific training and may need to meet regulatory requirements.

The Finance industry is a major driver of the Australian economy - $18 billion net flows through the sector annually.

The Financial Services Training Package FNS04 is the framework for vocational education and training across the financial sector, defining qualifications across a broad range of specialised sub-sectors.

Skills for Financial Services

The Financial Services Training Package comprises 32 qualifications, ranging from Certificate I in Financial Services to Advanced Diploma in a range of specialisation, including accounting, banking, financial planning, insurance services, superannuation and risk management. There are 372 qualifications Including 14 units imported from other Training Packages.

Compared to its predecessor the FNS04 has the following extras:

Certificates III and IV in Financial Services have been streamlined, with an option for specialisation in Insurance Services and the Diploma in Financial Services has been enhanced to allow for learners to undertake specialised outcomes in:

• Insurance Services
• Loss Adjusting
• Insurance Broking
• Life Distribution
• General Distribution
• General Insurance
• ASIC Accreditation – Financial Product Advisor in Life Insurance

Employability skills are now embedded in Training Package qualifications and new skills sets are offered in:

• Corporate Superannuation Fund Trustee Work
• Self-managed Superannuation Fund Trustee Work.

A new Certificate IV in Bookkeeping addresses the need for skilled professionals in this growing sector. A stakeholder-led review identified skills gaps within Workers Compensation, a complex sector in need of professionals with specialist skills. New qualifications in Workers Compensation range form Certificate III to Diploma, with and additional Diploma of Personal Injury Management (Workers Compensation).

Flexibility

The Financial Services Training Package is designed for flexible delivery and allows for application across financial sectors, as well as in a diverse range of workplace environments.

Training Package Specialisations

Qualifications:

Certificate I

FNS10104 Certificate I in Financial Services

Certificate II

FNS20104 Certificate II in Financial Services

Certificate III

FNS30107 Certificate III in Financial Services*
FNS30304 Certificate III in Financial Services (Accounts Clerical)
FNS30404 Certificate III in Financial Services (Mercantile Agents)
FNS30507 Certificate III in Financial Services (Workers Compensation)

* This qualification now includes options for learners to undertake a specialised outcome in Insurance Services.

Certificate IV

FNS40107 Certificate IV in Financial Services*
FNS40207 Certificate IV in Financial Services (Bookkeeping)
FNS40204 Certificate IV in Financial Services (Personal Trust Administration)
FNS40304 Certificate IV in Financial Services (Credit Management)
FNS40604 Certificate IV in Financial Services (Accounting)
FNS40704 Certificate IV in Financial Services (Financial Practice Support)
FNS40804 Certificate IV in Financial Services (Finance/Mortgage Broking)
FNS40904 Certificate IV in Financial Services (Superannuation)
FNS41007 Certificate IV in Financial Services (Workers Compensation)

* This qualification now includes options for learners to undertake specialised outcomes in Insurance Services or Insurance Assessment Services.

Diploma

FNS50107 Diploma of Financial Services*
FNS50204 Diploma of Accounting
FNS50504 Diploma of Financial Services (Finance/Mortgage Broking Management)
FNS50604 Diploma of Financial Services (Conveyancing)
FNS50704 Diploma of Financial Services (Personal Trustees)
FNS50804 Diploma of Financial Services (Financial Planning)
FNS50904 Diploma of Financial Services (Superannuation)
FNS51004 Diploma of Financial Services (Financial Markets)
FNS51104 Diploma of Financial Risk Management
FNS51204 Diploma of Financial Services (Banking)
FNS51304 Diploma of Financial Services (Consumer Education)
FNS51407 Diploma of Personal Injury Management (Workers Compensation)

* This qualification now includes options for learners to undertake specialised outcomes in Insurance Services, Loss Adjusting, Insurance Broking, Life Distribution, General Distribution, General Insurance, and ASIC Accreditation Financial Product Advisor in Life Insurance.

Advanced Diploma

FNS60104 Advanced Diploma of Financial Services
FNS60204 Advanced Diploma of Accounting
FNS60304 Advanced Diploma of Financial Services (Conveyancing)
FNS60404 Advanced Diploma of Financial Services (Financial Planning)
FNS60504 Advanced Diploma of Financial Services (Superannuation)

Skills Sets

Corporate Superannuation Fund Trustee Work
Self Managed Superannuation Fund Trustee Work

Qualification Applications

Certificates I & II – Financial literacy in workplaces and the general community, including school based VET programs
Certificates II - IV – Australian Apprenticeships and traineeship pathways
Certificate III and IV – Industry entry level
Diploma & Advanced Diploma – Specialist job roles

Innovation and Business Services Australia (IBSA) is the declared body responsible for the nationally endorsed Financial Services Training Package. For more information or for advice on Continuous Improvement see www.ibsa.org.au

Business Skills Victoria assists Businesses to identify and develop training solutions for Financial Services needs. For more information contact Anna Henderson. For further information on training and other industry requirements see National Institute of Accountants www.nia.com.au