RG 105 Option 2 Individual Assessment
Financial Education Professionals provides independent validation of compliance with RG 105 Organisational Competencies. This involves the following steps, processes and outcomes.
Step 1: Needs Analysis
Process: Investigate the environment and identify the competencies that the licensed entity should require of its Responsible Managers. This involves desktop research of material provided by the licensee, possibly supplemented with face-to-face discussions.
Outcomes: Recommendations on the competencies required.
Step 2: Review of Responsible Managers/Managers
Process: Review of the roles of each of the Responsible Managers, identification and confirmation of suitable competencies, review of existing qualifications, matching to competencies required under your specific licence, identification of any gaps and recommendations to meet gaps. This task involves desktop research and may require short meetings with some individual staff members.
Outcomes:
- Report on what competencies have been successfully demonstrated and the competencies that are required to be demonstrated.
- Recommendations on how Responsible Managers can meet any outstanding competency requirements.
Step 3: Individual Assessment
Process: Where Responsible Managers meet ASIC's experience requirement (5 years relevant experience within the immediate past 8 years), they can complete Individual Assessment to meet the outstanding competencies for RG 105. Individual Assessment involves a structured one-on-one interview with one of our Authorised Assessors. We will provide a briefing on how this is conducted prior to the interview.
Outcomes: On successful conclusion, Statements of Attainment confirming that competency has been demonstrated successfully.
Step 4: Certification
Process: Financial Education Professionals is a Registered Training Organisation and an ASIC Authorised Assessor. We issue a detailed report on Organisational Competencies and issue Statements of Attainment confirming demonstration of competencies to meet compliance with RG 105.
Outcomes: Detailed Report & Certification of Compliance.