Unit of competency Outline

Date retreived
23/07/2026 8:02 PM AWST

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Develop and maintain knowledge of financial markets products

Develop and maintain knowledge of financial markets products

Unit of competency
National Code
FNSFMK402
State Code
AUX19
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
16/09/2015
Field of Education
081101 - Banking And Finance
Original Release Date
16/09/2015
Nominal Hours
35
Description
This unit describes the skills and knowledge required to identify the financial markets products provided by an organisation, or those from other vendors or organisations used, and determine their unique characteristics, purpose and requirements for processing transactions.It applies to individuals who use specialised knowledge, systematic approaches and analytical skills to support organisational information requirements. No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Identify products organisation provides or uses
  • 1.1 Identify organisational products used by organisation and determine purpose of each
  • 1.2 Identify characteristics of products and services and their use
  • 1.3 Effectively apply processes for operational transactions involving organisational products
2. Identify compliance implications of products
  • 2.1 Identify compliance implications of transactions for organisational products
  • 2.2 Produce all necessary documentation consistent with organisational compliance requirements
3. Determine user expectations for financial markets products
  • 3.1 Identify function of each product and customer needs it satisfies as basis for providing operational services
  • 3.2 Determine and apply user expectations of products and level of operational service provided in operational transactions
4. Maintain financial markets product knowledge
  • 4.1 Regularly review organisational financial markets products and identify and apply any changes to terms and conditions
  • 4.2 Implement systems for keeping up with changes and maintaining up-to-date knowledge about financial markets products
  • 4.3 Review emerging trends affecting the financial industry and apply to product knowledge and operational practices
No information
No information
Replaces
State Code National Code Title Type
D4121 FNSFMK402A Develop and maintain knowledge of financial markets products Unit of competency