Part A: Essay: Dynamics of Financial Services Sector in Australia
In this assessment task, you will be required to write an essay on the structure, environment and role of the
financial services sector in Australia. You will also be researching and examining the characteristics of the
Financial Service Industry in Australia covering the following aspects;
â–ª Industry Overview
â–ª Different sectors and their inter-relationship
â–ª Regulatory environment
â–ª Current Economic and Political Climate and their impact on the sector
â–ª Changing industry and organisational expectations and requirements from financial services
professionals
â–ª Key issues facing the sector, including legislative (FRSA, FTRA, Consumer Credit Code, Privacy Act) and
ethical challenges
â–ª Information management and security
â–ª International/Global Context
Part B: Working as Financial Services Consultant: PD Plan
Part a:
In this assessment task, you will assume the role of an aspiring Financial Planner. Research and compile
information such as qualification, skill, knowledge industry and licensing requirements to operate as a
Financial Planner in Australia. Present the information in such a way that it could be a guide to anyone seeking
to start a career in the industry. Your analysis should cover;
â–ª What it means to be a Financial Planner
▪ Financial Planner’s role in the financial services industry (industry context)
â–ª Professional Associations and bodies
â–ª Code of Conduct and Ethics (an ethical approach to workplace practice and decisions)
â–ª Legislative framework/requirements under which the Financial Planner operates
â–ª Educational, skill and knowledge requirements (organisational context and requirements)
â–ª Licensing Requirements
â–ª Career Pathways and Professional Development
Part b:
The concept of professional development espouses the notion, and the belief, that continuously enhancing
skills training of the employee through professional development leads to an increasingly sustainable and
capable workforce. A large number of organisations emphasise on continuous professional development. It is
in mutual interest of the organisation and the finance professionals to encourage and facilitate professional
development.
A professional development plan sets the guidelines for achieving individual and/or organisational
development objectives. A PD Plan ensures that there are right resources and strategies in place to efficiently
achieve the intended goals.
Using the information completed in Part a, develop a brief Professional Development Plan, outlining;
â–ª Goals and objectives
â–ª Key strengths and weaknesses
â–ª Professional development needs
â–ª Key strategies (how are you going to achieve your goals)
â–ª Action plan (table format: bullet points)
â–ª Key priorities
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Assessment Task 2
Task:
â–ª Describe the carbon tax and explain how it is relevant to the concept of sustainability
â–ª Assess the impact (negative or positive) of the tax (general assumptions based on media
commentaries and analyses) on the company and its finances
â–ª Recommendations on sustainability practices the company can adopt to minimise it carbon footprint
(based on company operations and general principles of sustainability)
â–ª Based on the concept of triple Bottom line, suggest what the company should do to monitor its
environmental performance
â–ª Relevant legislations and how the changes in the industry may impact upon organisational practices
(e.g. technology, policies, procedures, codes etc.)
â–ª Calculate and provide a brief cost-benefit analysis based on the recommendations