Responsible Manager Fundamentals Course

What do responsible managers do?

Responsible managers are critical to a company demonstrating and maintaining its compliance and competence. ASIC expects RMs to play an active role in fostering a compliance culture in their business and in the financial services industry more broadly.

About our Responsible Manager Fundamentals Course

Our Responsible Managers Fundamentals is particularly ideal for financial services professionals seeking to boost their depth and breadth of regulatory knowledge before being considered for the role of responsible manager.

It is also suitable for other roles within an organisation for whom it would be valuable to learn:

  • What responsible managers do
  • The appropriate standard of knowledge and skills about AFS licensing responsible managers are required to have
  • The important, ongoing role responsible managers play in ensuring organisational competence.

Discover the knowledge and skills it takes to be an effective first line of defence for your organisation and positive driver of culture and conduct.

Program Content

  • Financial services regulation and licensing
  • Roles and responsibilities of a responsible manager
  • Application of cross-industry laws in financial services

Learning Outcomes

What you will learn

  • How the financial services industry is regulated in Australia
  • Conduct and disclosure obligations firms and their representatives must meet under financial services law and regulatory guidance
  • Other laws and standards that govern financial services activities, including consumer law, AML and Privacy
  • General obligations of Australian Financial Services Licensees
  • Attributes and responsibilities of a responsible manager
  • The role responsible managers play in ensuring the financial services organisation they work for operates compliantly.

Who is this course for?

  • Newly appointed responsible managers working in an organisation that holds an Australian Financial Services (AFS) licence
  • Participants wanting to understand the role of responsible manager within the context of AFS.

Units of Competency

Pre-requisite

Recognition of Prior Learning

Certification

On successful completion, participants will be awarded a Certificate of Attainment confirming they have successfully demonstrated knowledge of Responsible Manager Fundamentals.

No other accreditations or units of competency are awarded.

Discover our Responsible Manager Fundamentals

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Frequently Asked Questions

The assessment is an open book knowledge examination comprising of a 25 multiple-choice questions. You must achieve 80% in in order to pass the course. You will have three attempts.
Our course is self-paced with online learning resources & on-going support. You have 8 weeks from your enrolment date in which to complete this course. Experienced professionals can complete in less time.
Our courses, CPD and qualifications are 100% online, so you can start anytime, anywhere.
  • Either enrol online or
  • Contact Us to arrange an invoice for EFT or AMEX payments.
You can enrol your team either:
  • Easily enrol online (you can add multiple participants to your cart) or
  • Contact us to arrange a quote.
What is RG206?2023-04-21T07:53:53+10:00

Regulatory Guide 206 Credit licensing: Competence and training (RG 206)

Credit licensees must comply with the organisational competence obligation in s47(1)(f) of the National Consumer Credit protection Act 2009 (National Credit Act)Regulatory Guide 206 Credit licensing: Competence and training (RG 206) sets out the minimum expectations for demonstrating organisational competence.

What you need to do to comply will depend on the nature, scale and complexity of your business. However, Regulatory Guide 206 Credit licensing: Competence and training (RG 206) sets out our minimum expectations for demonstrating organisational competence.

You must also ensure that your representatives are adequately trained and competent to engage in the credit activities authorised by your licence: s47(1)(g).

ASIC generally expects you to determine what is appropriate initial and ongoing training for your representatives and to embed this in your recruitment and training systems.

Updated annually, our CPD is designed to enable Responsible Managers and Representatives of Australian Credit Licensees to meet their mandatory RG206 continuing training requirement. Our CPD that is structured, properly assessed and recorded.