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WHAT DOES IT MEAN?

Confused by all those letters? Don't understand that phrase? See our Glossary of Terms and Acronyms

 

What do career and job seekers need to know?

Up to date information on an employment sector is an enormous asset to a student or unemployed person. They need answers to questions such as:

 

  • How many people are in the industry in NSW?
  • What is the average weekly wage?
  • What are the main jobs?
  • Which locations in NSW have the largest numbers of workers?
  • What’s the latest unemployment rate?
  • What proportion of males and females work in the industry?
  • What does the crystal ball tell us about future employment?
  • How many people does the industry employ in Australia?

 

To find an overview of the finance and insurance industry that answers these questions and many others click here.

 

Which jobs/occupations are associated with the Financial and Insurance Services industry?

For a full range of the possibilities please click here.

28 occupations are listed as part of the Financial and Insurance Services Industry. By clicking on a job title you will find a comprehensive overview of each occupation including:

 

  • Job prospects
  • Weekly earnings
  • Occupation size

 

To obtain a summary of the overview click on Reports & Links and then click on Occupational Bulletin.

 

What vocational qualifications are required?

To find the links between vocational qualifications and occupations and industry sector click here.

Then go to FNS10 Financial Services Training Package and click View Report.

 

Where do I find training organisations?

To find the Registered Training Organisations (RTOs) in NSW that deliver some or all of the vocational qualifications in the FNS Financial Services Training Package click here.

In the National Code Box enter FNS, tick the NSW Box and then click View Report.

The report shows details on 241 RTOs that deliver vocational qualification courses from the Financial Services Training Package. For more detailed information click on the number in blue which will bring up a summary page for the RTO.

 

Where do I find information about traineeships?

For traineeships in the Financial and Insurance Services industry in NSW click here.

For training courses subsidised by the NSW Government click:

 http://www.training.nsw.gov.au/

 

Can the skills people have already be assessed?

Recognition of Prior Learning (RPL) involves the assessment of previously unrecognised skills and knowledge an individual has achieved outside the formal education and training system. 

 

The processes used to assess RPL applications may take several (not mutually exclusive) forms, for example:

 

  • participation in exactly the same or modified versions of the assessment the student would be required to complete as part of the full course
  • assessment based on a portfolio of evidence
  • direct observation of demonstration of skill or competence
  • reflective papers, journals or portfolios that relate past learning to the learning or competency outcomes of the current course or qualification
  • provision of examples of the student's work drawn from the workplace, social, community or other setting in which the student applies their learning, skill or competence;
  • testimonials of learning, skill or competence; or
  • combinations of any of the above.

 

 

For further details on RPL click here. 

 

 

Can an already completed course be credited towards another course of study?

Credit transfer involves assessing a previously completed course or subject to see if it provides equivalent learning or competency outcomes to those required within a current course of study. It is used when a someone seeks credit for a course or subject they have already completed. It is based on agreements between institutions or organisations as to the credit value to be given for specific units of competency and learning outcomes within a course or qualification. Formal documentation of equivalence (for example a mapping guide) is required.

 

What is national recognition?

National recognition is unique to the vocational education and training system. It means that a student automatically has credit for units of competency that they have completed at another registered training organisation (RTO). A statement of attainment from another RTO that contributes to a qualification is reported as a form of credit transfer.

 

Are overseas qualifications valid in Australia?

There are several options available to individuals who hold overseas qualifications, but wish to commence a career in Australia. Comparisons between overseas qualifications and Australian qualifications (except for school-level qualifications) may be established through the National Office of Overseas Skills Recognition (NOOSR) — a Commonwealth government agency. Individuals seeking formal recognition of their qualifications should contact  the Australian Education International:
https://internationaleducation.gov.au/services-and-resources/pages/qualifications-recognition.aspx

While formal recognition of overseas qualification is possible through NOOSR, ASIC has specific obligations for Australia and it will almost certainly be necessary to undertake some additional training (or assessment) to meet Australian regulatory requirements, particularly in relation to the distinct characteristics and products of the Australian environment.