Credit Licensing: Competence and Training
Course Details
Description
Competence and Training are fundamental components for professionals involved in credit activities within Australia. Ensuring that both individuals and organisations meet the requisite standards is vital for compliance with the National Consumer Credit Protection Act 2009 (National Credit Act).
Our course, “Credit Licensing: Competence and Training,” provides an in-depth exploration of these requirements, equipping participants with the knowledge and skills necessary to navigate the regulatory landscape effectively.
Understanding Competence and Training in Credit Licensing
The Australian Securities and Investments Commission (ASIC) mandates that credit licensees maintain organisational competence and ensure that their representatives are adequately trained to engage in credit activities. This obligation is outlined in Section 47(1)(f) and (g) of the National Credit Act. ASIC’s Regulatory Guide 206 (RG 206) offers detailed guidance on meeting these obligations, emphasising the importance of qualifications, experience, and ongoing professional development.
Course Overview
Our “Credit Licensing: Competence and Training” course is designed to provide a comprehensive understanding of the competence and training requirements set forth by ASIC. Key topics covered include:
- Organisational competence: Learn how to demonstrate and maintain organisational competence by appointing responsible managers with the appropriate qualifications and experience.Â
- Representative training: Understand the necessity of ensuring that representatives are adequately trained and competent to engage in authorised credit activities.
- Regulatory expectations: Gain insights into ASIC’s expectations regarding initial and ongoing training, and how to embed these requirements into recruitment and training systems.
- Compliance strategies: Develop strategies to meet compliance obligations effectively, including the implementation of continuing professional development (CPD) programs.
Who Should Enrol
This course is ideal for:
- Credit licence applicants: Individuals preparing to apply for a credit licence who need to understand and demonstrate compliance with competence and training obligations.
- Existing credit licensees: Organisations seeking to ensure ongoing compliance with ASIC’s competence and training requirements.
- Compliance officers and managers: Professionals responsible for overseeing compliance within credit licensee organisations.
- Training and development professionals: Individuals involved in designing and implementing training programs for credit representatives.
Estimated Time To Complete
Learning objectives
By the end of this course, learners will be able to
- Ensure compliance: Gain the knowledge needed to meet ASIC’s competence and training requirements, reducing the risk of regulatory action.
- Enhance professional standards: Elevate the competence and professionalism of your organisation and its representatives.
- Improve client trust: Demonstrate a commitment to high standards of competence and training, fostering trust with clients and stakeholders.
- Stay informed: Keep abreast of current regulatory expectations and best practices in the credit industry.
