Mortgage Broker Training Centre
The FBAA Training Centre is part of the Finance Brokers Association of Australia’s education programme. The FBAA has formed a strategic alliance with the AAMC Training Group to be the education provider to the FBAA for its range of courses.
Our consultation with industry revealed that many new finance brokers require more support in understanding the risks associated with key areas such as privacy, fraud, ethics and conduct.
In recognising the importance of enhancing the education requirements of our new to industry brokers, we are now expecting them to complete the FBAA Compliance Fundamentals Training. This course will ensure the procurement of integral knowledge which effects all brokers including;
Australia Privacy Act, FBAA Code of Conduct, FBAA Anti-Money Laundering & terrorism Financing (AML/CTF), and Credit Fraud Awareness
Australian Privacy Act
This module covers the 13 Australian Privacy Principles which set out the standards, rights and obligations for the handling, holding, use, access and correction of personal and sensitive information.
FBAA Code of conduct
The Finance Brokers Association of Australia Limited (FBAA) Code of Practice is intended to promote good relations between FBAA Finance Broker members, their clients, credit providers and others involved in the finance industry. The code covers 10 principals and objectives to ensure that members provide good standards of practice that are imperative to act ethically and responsibly when dealing with clients.
FBAA Anti-Money Laundering and Counter-Terrorism Financing (AML/CT F)
This course provides an overview of anti-money laundering and counter terrorism financing. The “Anti-Money Laundering” section describes the legal obligations of financial institutions and other regulated entities to prevent or report money laundering activities. The Counter-Terrorism Financing section describes the legal obligations of financial institutions, other regulated entities and residents of Australia to prevent, report and interdict the financing of terrorists, terrorist organisations and terrorism events.
Credit Fraud Awareness
The cost of fraud in Australia can add up to millions of dollars, as well as negative press and enforcement actions. Therefore, it’s imperative to be more diligent and look for inconsistencies in credit application supporting documentation. This module covers key topics such as; the common fraud types, fraudulent non-disclosure, ways to manage fraud in your business, the impacts of fraud and ways to protect your company and yourself from fraud.
Why is training compulsory?
It covers key areas to support new to industry broker member’s knowledge of what could potentially present major risks to their business.
FBAA Membership Terms & Conditions
New to industry members joining the FBAA from Monday 4th December 2018 must have completed the FBAA Compliance Fundamentals training.
Price: RRP $434.30 (members $198 inc GST)
CPD Hours: 8 hours
FOR MORE INFORMATION: Visit the AAMC Training site here
AAMC Training (RTO number 51428) have been successfully supporting FBAA members for the past 14 years. We are delighted to continue our successful partnership by providing compliance based solutions for members to meet current and future regulatory educational requirements. Our practical and extensive finance broking experience allows AAMC Training to understand your business and training needs. We offer a consultative process to assist with personal development, business growth and diversification. Our comprehensive scope of courses and products allow you to feel confident about meeting compliance standards and ensuring your people are adequately trained. We also consult with you regarding any available funding support for training. Our prices are affordable and methods of learning flexible to meet your support requirements. Whether your preferred method of learning be online, face to face or blended learning, AAMC Training are always here to support you. Our industry experienced trainers and assessors are only a phone call away! We also offer Recognition of Prior Learning (RPL) and Exemption methods for those industry experienced Finance Brokers, Financial Planners and Accountants. Some of the areas we offer training:
- Finance and Mortgage Broking
- AML/CTF and Privacy Act
- Financial Planning – Including Life Insurance & Self-Managed Superannuation
- Seniors Equity Release Training
- Business and Management
- Sales and Marketing
- Professional Development – A vast range of personal and professional development courses
We also offer: Complimentary CPD Tracking System – for Individuals and corporate clients – this system allows you to track and manage both training progress and professional development hours for your members and ACR’s. NCCP Toolkit – all the useful registers, forms and training you require to meet your compliance requirements as an ACL.
Anti-Money Laundering and Counter-Terrorism Financing Refresher Module
This training module is designed to keep your knowledge and training up-to-date to assist with your compliance with Australia’s efforts to counter money laundering, the financing of terrorism and the enforcement of international or Australian sanctions and other counter-measures. By the end of this module you will be able to:
- Explain the concept of money laundering
- Understand the three stages of money laundering
- Identify the principle sources of money laundering
- Update your understanding of your legal obligations with regard to anti-money laundering, counter-terrorism financing and Australian sanctions and other counter-measures
- Continue to undertake identification and verification procedures for your typical types of customers
- Assist with on-going customer identification and re-verification and the monitoring of customers and their transactions
- Identify and report suspicious matters
For more details and to enrol, go to the AAMC site here.