Financial Services Tier 2 – Banking – Australia

Product Description

Training for your staff that offer information or advice about your financial services products – tailored for customer-owned ADIs and other ADIs that operate domestically

Under Chapter 7 of the Corporations Act, all AFS Licensees are required to ensure their representatives are adequately trained and competent to provide the financial products and services authorised by their AFSL

In its Regulatory Guide 146 (RG 146), ASIC has set minimum standards that all representatives who provide financial product advice to retail customers must meet. In our view, this training meets ASIC’s specialist knowledge and skills requirements for basic deposit products and non-cash payment facilities.

The six-module training package addresses the knowledge and skills requirements for retail banking staff who provide financial advice about basic deposit products and related noncash payment facilities. It is suitable to train new staff and to satisfy the requirements for Continuing Professional Development (CPD).

It includes content designed to assist trainees to better understand the differences between providing factual information, general advice and personal advice—and the differing legal requirements which attach to each. A number of graphically presented interchanges between customer and adviser are used to illustrate aspects of the advising process. Effective compliance made easy

Cheques Training

The number of cheques used in Australia has been declining for many years. Yet they will still be around for a few more years. Older individuals are continuing to use cheques. The community sector also relies on the “two to sign” facility to protect against fraud by office bearers. There is a general requirement to properly train advisers under ASIC Regulatory Guide 146 and the financial services laws. This includes training for relevant non-cash payments products such as cheques.

Appropriate staff training is also required under relevant industry codes of practice. Clause 28 of the Banking Code of Practice requires subscribers to include certain information about cheques in their Terms and Conditions. Staff should be able to explain this information clearly.

Our Cheques Training module is included with this Tier 2 Training and it covers

• Cheque features
• Dealing with cheques
• Unusual cheques

Insurance Advisers

We also offer a course for advisers dealing with general insurance products: Financial Services Tier 2 – Insurance details here

Who should do this training?

The course is suitable for customer-facing staff and their managers in retail banks.

Course Outline

  • Module 1: Regulation of financial services
  • Module 2: Basic deposit products and non-cash payment facilities
  • Module 3: Introduction to financial advice
  • Module 4: Providing personal advice
  • Module 5: Adviser Skills
  • Module 6: Electronic non-cash payments
  • Included course: Cheques training

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