Commissioner's Information Bulletin 678
Financial Services - Traineeships
Finance, Insurance and Business Services
Date of effect: 2 November 2018
Bulletin Information
In this Commissioner's Information Bulletin two traineeship vocations are repealed and one new traineeship vocation is established to align to current FNSv3.1 Financial Services Training Package as follows:
Vocations repealed
- Financial Services – Accounting
- FNS40615 Certificate IV in Accounting
- Financial services – Bookkeeping
- FNS40216 Certificate IV in Bookkeeping
Vocation declared:
- Financial Services – Accounting and Bookkeeping
- FNS40217 Certificate IV in Accounting and Bookkeeping
At the same time, FNS30317 Certificate III in Accounts Administration qualification code has been updated.
Commissioner's Information Bulletin
This Commissioner's Information Bulletin supersedes Bulletin 630.
On this page:
Vocational Training Orders (VTOs)
- Financial Services
- Financial Services - Accounts Administration
- Financial Services - Accounting and Bookkeeping
- Financial Services - Banking Services
- Financial Services - Credit Management
- Financial Services - Finance and Mortgage Broking
- Financial Services - General Insurance
- Financial Services - Insurance Broking
- Financial Services - Mercantile Agents
- Financial Services - Superannuation
Qualifications, structure and packaging
Transition Arrangements
Competency based completion
Industrial arrangements
School based traineeships
Licensing and regulatory arrangements
Registered training organisations
Funding arrangements
Inspecting Vocational Training Orders
Enquiries
To sign up an apprentice or trainee call 1300 363 83. To find a job in an apprenticeship or traineeship search here.
David Collins
The Commissioner for Vocational Training
Job descriptions
Certificate II level trainees will learn to meet the financial literacy and basic financial skill needs of remote and indigenous communities or new entrants wishing to build potential pathways into the industry, particularly through VET in Schools programs.
Certificate III level trainees will learn the job role of entry level employees working across the entire financial services industry and perform duties relating to administrative, clerical and customer service roles in banking, credit management, insurance and retail financial services. Individuals at this level will learn to apply knowledge and skills to demonstrate autonomy and judgement and to take limited responsibility in known situations under general supervision.
Certificate IV level trainees will be provided with a flexible general purpose pathway into the financial services industry. It is intended to meet the training needs of employees with roles that involve working across a range of duties in the financial services sector where a specialist qualification is not the most suitable qualification to meet their training needs. Individuals in these roles apply theoretical and technical knowledge and skills to work autonomously and exercise judgement in completing routine and non-routine activities.
Certificate III level trainees will learn the job role of entry level employees while working across the entire financial services industry and perform duties relating to administrative, clerical and customer service roles in banking, credit management, insurance and retail financial services. Individuals at this level apply knowledge and skills to demonstrate autonomy and judgement and to take limited responsibility in known situations under general supervision.
Certificate IV level trainees will learn job roles of workers in the accounting industry, including BAS agents and contract bookkeepers; and of those employees performing bookkeeping tasks for organisations in a range of industries. It includes preparing and lodging business and instalment activity statements and providing advice or dealing with the Commissioner on behalf of a taxpayer in relation to activity statements. Individuals in these roles apply theoretical and specialist knowledge and skills to work autonomously, and exercise judgement in completing routine and non-routine activities.
Certificate IV level trainees will learn job roles requiring specialist understanding of financial products and services working in banking, customer contact centre or retail financial services environments. Individuals in these roles apply specialist knowledge and skills to work autonomously and exercise judgement in completing routine and non-routine activities. The qualification allows for specialisation in sales and marketing, lending and mobile banking.
Certificate IV level trainees will learn job roles of workers in credit management functions. Individuals in these roles apply theoretical and technical knowledge and skills to work autonomously and exercise judgement in completing routine and non-routine activities relating to credit, reconciliation and customer service.
Certificate IV level trainees will learn the job roles of individuals working in finance broking (including mortgage broking). They will learn to apply solutions to a defined range of unpredictable problems, and analyse and evaluate information from a variety of sources. They may provide guidance to others and have limited responsibility for the output of others.
Certificate III level trainees will learn the job role of entry level employees working in general insurance environments who perform claims administration and customer service duties. Individuals at this level apply knowledge and skills to demonstrate autonomy and judgement and to take limited responsibility in known situations under general supervision. Work functions include processing and issuing policies, processing and settling claims, responding to customer enquiries and maintaining a customer database.
Certificate III level trainees will learn entry level broking assistant or support roles in a small or large organisation offering insurance broking services to retail and wholesale clients. Broking assistants undertake a range of core broking skills around customer service, client advice and clerical and administrative support duties. Individuals at this level take limited responsibility in known situations under general supervision.
Certificate III level trainees will learn job roles in the mercantile agents sector and will learn to apply a broad range of competencies using limited discretion and judgement while undertaking operations that may include debt collection, process serving and repossessions. Individuals at this level apply knowledge and skills to demonstrate autonomy and judgement and to take limited responsibility in known situations under general supervision.
Certificate IV level trainees will learn job roles of workers requiring specialist understanding of financial products and services in superannuation environments. Individuals in these roles apply specialist knowledge and skills to work autonomously and exercise judgement in completing routine and non-routine activities relating to administering income streams, assisting with meeting industry compliance requirements, establishing and maintaining employer accounts and processing benefits, claims and payments. They apply solutions to a defined range of superannuation problems and analyse and evaluate information from a variety of relevant sources.
Traineeships
Financial Services - Traineeship
Vocational Training Order
Date of effect | 28 September 2012 |
Updated | 3 April 2015 |
Qualifications | |
Terms of traineeships | Full-time:
|
School based |
School based part-time trainees will undertake a minimum of 100 days on-the-job training across a 24 month period within which trainees shall be required to demonstrate competencies relevant to the Vocational Training Order. |
Probationary periods | Where the nominal term is:
|
Financial Services - Accounts Administration - Traineeship
Vocational Training Order
Date of effect | 11 May 2012 |
Updated | 2 November 2018 |
Qualification | FNS30317 Certificate III in Accounts Administration |
Terms of traineeship | Full-time:
|
School based | FNS30317 Certificate III in Accounts Administration School based trainees will undertake a minimum of 100 days on-the-job training across a 24 month period within which trainees shall be required to demonstrate competencies relevant to the Vocational Training Order. |
Probationary period | 2 months |
Financial Services - Accounting and Bookkeeping - Traineeship
Vocational Training Order
Date of effect | 2 November 2018 |
Qualification | FNS40217 Certificate IV in Accounting and Bookkeeping |
Terms of traineeship | Full-time:
|
Probationary period | 2 months |
Financial Services - Banking Services - Traineeship
Vocational Training Order
Date of effect | 11 May 2012 |
Updated | 3 April 2015 |
Qualifications | FNS42015 Certificate IV in Banking Services |
Terms of traineeships | Full-time:
|
Probationary periods | 2 months |
Financial Services - Credit Management - Traineeship
Vocational Training Order
Date of effect | 28 September 2012 |
Updated | 3 April 2015 |
Qualifications | FNS40115 Certificate IV in Credit Management |
Terms of traineeships | Full-time:
|
Probationary periods | 2 months |
Financial Services - Finance and Mortgage Broking - Traineeship
Vocational Training Order
Date of effect | 11 May 2012 |
Updated | 3 April 2015 |
Qualifications | FNS40815 Certificate IV in Finance and Mortgage Broking |
Terms of traineeships | Full-time:
|
Probationary periods | 2 months |
Financial Services - General Insurance - Traineeship
Vocational Training Order
Date of effect | 11 May 2012 |
Updated | 3 April 2015 |
Qualifications | |
Terms of traineeships | Full-time:
|
Probationary periods | 2 months |
Financial Services - Insurance Broking - Traineeship
Vocational Training Order
Date of effect | 11 May 2012 |
Updated | 3 April 2015 |
Qualifications | FNS30615 Certificate III in Insurance Broking |
Terms of traineeships | Full-time:
|
Probationary periods | 2 months |
Financial Services - Mercantile Agents - Traineeship
Vocational Training Order
Date of effect | 24 December 2010 |
Updated | 3 April 2015 |
Qualification | FNS30415 Certificate III in Mercantile Agents |
Terms of traineeship | Full-time:
|
Probationary period | 2 months |
Financial Services - Superannuation - Traineeship
Vocational Training Order
Date of effect | 11 May 2012 |
Updated | 3 April 2015 |
Qualifications | FNS40915 Certificate IV in Superannuation |
Terms of traineeships | Full-time:
|
Probationary period | 2 months |