The Government has an aim to ensure all people who work in any aspect of the financial services industry is accredited and qualified. This started back in the mid 1990’s after the presentation of the Wallis report, and the first profession to be recognized was financial planners and insurance agents.
The Financial Services Sector now encompasses anyone who deals with finance, and this now includes mortgage brokers. The Government would like to see all brokers attain a minimum qualification such as the CIV and it is currently at the stage where some banks/financial institutions will not deal with brokers unless they have a CIV, and are members of a representative body – eg the MFAA which requires CIV in Finance/Mortgage Broking for membership.
ASIC would also like to see providers have a minimum of Tier 2 compliance accreditation as a duty of care.
This qualification is designed to reflect the role of employees working in finance/mortgage broking who perform duties such as:
To attain a Certificate IV in Finance and Mortgage Broking 12 units must be achieved:
8 core units, plus 4 elective units.
|BSBCOM501B||Identify and interpret compliance requirements|
|BSBWOR204A||Use business technology|
|FNSCRD301A||Process applications for credit|
|FNSFMB401A||Prepare loan app on behalf of finance or mortgage broking clients|
|FNSFMB402A||Provide finance and mortgage broking services|
|FNSFMB403A||Present broking options to client|
|FNSINC401A||Apply principles of prof 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|
|BSBCUS301A||Deliver and monitor a service to customers|
|BSBOHS303B||Contribute to OHS hazard identification and risk assessment|
|BSBWOR501A||Manage personal work priorities and professional development|
|FNSFMB501A||Settle applications and loan arrangements in the finance and mortgage broking industry|
|FNSSAM403A||Prospect for new clients|
|FNSCUS501A||Develop and nurture relationships with clients, other professionals and third party referrers|
|FNSICSAM401||Sell financial products and services|
|FNSASIC301A||Establish client relationship and analyse needs|
|FNSASIC302A||Develop, present and negotiate client solutions|
|FNSICGEN401A||Participate in formal communication processes|
|FNSICGEN402A||Participate in negotiations|
|BSBCMN402A||Develop work priorities|