Qualification Outline
22/07/2026 5:48 AM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Diploma of Financial Services
Diploma of Financial Services
FNS51820
BFE8
Replaced
Replaced
National Endorsed, State Implementation and Classification
Releases
| Release Version | Release Date | TGA Status | DTWD Status |
|---|---|---|---|
| 4.00 | 27/01/2022 | Current | Approved |
| 3.00 | 12/02/2021 | Replaced | Approved |
| 1.00 | 01/07/2020 | Replaced | Approved |
Description
This qualification is designed to provide a general purpose pathway into the financial services industry. It is also intended to provide an effective development option for those candidates for whom the specialist qualification pathways in the Financial Services Training Package are not yet appropriate. Individuals in these roles apply solutions to a range of often complex problems and analyse and evaluate information from a variety of sources. They apply initiative to plan, coordinate and evaluate their own work and provide guidance to others or teams within defined guidelines.
Licensing, legislative, regulatory or certification considerations
Work functions in the occupational areas where this qualification is used may be subject to regulatory requirements. Refer to the relevant regulator for specific guidance on requirements.
Schedule
Packaging Rules
Total number of units = ten (10)- three (3) core units plus
- seven (7) elective units, of which:
- five (5) units must be selected from the electives listed below and have an FNS code,
- two (2) units may be selected from the remaining listed electives or any currently endorsed training package qualification or accredited course at Certificate IV or above.
Elective units must be relevant to the work environment and the qualification, maintain the overall integrity of the AQF alignment, not duplicate the outcome of another unit chosen for the qualification, and contribute to a valid industry-supported vocational outcome.
1. Core Units
All three (3) units must be completed.
| State Code | National Code | Title | Hours | Type |
|---|---|---|---|---|
| OBR68 | FNSRSK411 | Apply risk management strategies to own work | 45 | Unit of competency |
| OBR53 | FNSINC411 | Conduct work according to professional practices in the financial services industry | 25 | Unit of competency |
| BBH97 | FNSINC503 | Identify situations requiring complex ethical decision making | 35 | Unit of competency |
2. Group A – Financial Services
Seven (7) elective units must be completed.
Please refer to the packaging rules for the full details of available options.
3. Group B – Risk Management
Seven (7) elective units must be completed.
Please refer to the packaging rules for the full details of available options.
| State Code | National Code | Title | Hours | Type |
|---|---|---|---|---|
| OBR65 | FNSRSK512 | Assess risks | 45 | Unit of competency |
| OBR54 | FNSFMK524 | Conduct work within financial markets organisational risk management framework | 55 | Unit of competency |
| OBR62 | FNSRSK611 | Develop and implement risk mitigation plan | 55 | Unit of competency |
| OBR82 | FNSFMK520 | Develop and monitor risk management strategies for client | 60 | Unit of competency |
| OBR66 | FNSRSK511 | Undertake risk identification | 40 | Unit of competency |
4. Group C – Business Banking
Seven (7) elective units must be completed.
Please refer to the packaging rules for the full details of available options.
| State Code | National Code | Title | Hours | Type |
|---|---|---|---|---|
| OBR61 | FNSBNK511 | Manage banking and service strategy for small business customers | 80 | Unit of competency |
| AUS50 | FNSORG507 | Manage client service and business information | 100 | Unit of competency |
| AUQ64 | FNSBNK502 | Manage services in a Business Transaction Centre | 60 | Unit of competency |
| AUQ70 | FNSBNK503 | Provide business advisory services within a financial services context | 60 | Unit of competency |
| OCI02 | FNSCUS513 | Review business performance | 50 | Unit of competency |
5. Group D – Consumer Lending
Seven (7) elective units must be completed.
Please refer to the packaging rules for the full details of available options.
| State Code | National Code | Title | Hours | Type |
|---|---|---|---|---|
| OBR64 | FNSBNK512 | Assess complex loans | 45 | Unit of competency |
| AUQ72 | FNSCRD504 | Manage the credit relationship | 35 | Unit of competency |
| AUQ85 | FNSCRD503 | Promote understanding of the role and effective use of consumer credit | 50 | Unit of competency |
| OBR87 | FNSCRD515 | Respond to corporate insolvency situations | 35 | Unit of competency |
| OBR74 | FNSCRD511 | Respond to personal insolvency situations | 30 | Unit of competency |
6. Group E – Market Analysis
Seven (7) elective units must be completed.
Please refer to the packaging rules for the full details of available options.
| State Code | National Code | Title | Hours | Type |
|---|---|---|---|---|
| AUS97 | FNSSAM502 | Assess market needs | 60 | Unit of competency |
| OCZ10 | FNSSAM614 | Establish agreements with intermediaries for product distribution | 80 | Unit of competency |
| AUI00 | BSBMKG501 | Identify and evaluate marketing opportunities | 50 | Unit of competency |
| OCZ12 | FNSSAM612 | Identify and evaluate marketing opportunities in the financial services industry | 80 | Unit of competency |
| AUT13 | FNSSAM503 | Monitor market opportunities | 30 | Unit of competency |
| OCZ11 | FNSSAM613 | Tailor financial products to meet client needs | 50 | Unit of competency |
7. Group F – Customer Service and Relationships
Seven (7) elective units must be completed.
Please refer to the packaging rules for the full details of available options.
8. Group G – General
Seven (7) elective units must be completed.
Please refer to the packaging rules for the full details of available options.
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| AWB7 | FNS51815 | Diploma of Financial Services | Qualification |
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| BHU8 | FNS51822 | Diploma of Financial Services | Qualification |
No information
Entry Requirements
Nil
Traineeships and Apprenticeships