FSRA Support Pack

Document Sample
FSRA Support Pack Powered By Docstoc

                   FSRA Support Pack

                                    For CGU Emplloyees &
                                    For CGU Emp oyees &
                                    Authoriised Representatiives
                                    Author sed Representat ves
                                    This support pack will provide you with a better
                                    understanding of your FSRA Training requirements

CGU Learning & Development - Compliance Learning                                       11/04/2006
The Financial Services Reform Act (FSRA)
What is FSRA?          The Financial Services Reform Act (FSRA) is legislation introduced by the Federal
                       Government and came into effect on 11 March 2002.
                       It’s aim is to:
                            • Provide a consistent framework of consumer protection across the financial
                                 services industry
                            • Ensure that consumers receive adequate advice when purchasing financial
                                 products and services
                            • Help consumers understand and compare different financial products through
                                 increased disclosure of information
                            • Provide consumers with access to efficient complaints handling procedures for
                                 resolving disputes with financial services providers.

How does FSRA affect   In your role, you may provide financial services to clients – that is, deal in and provide
me?                    financial product advice about certain CGU products. To ensure that CGU is able to
                       meet its obligations under the Act, you are required to complete FSRA training and be
                       adequately trained and competent when doing so.

How do I complete      All FSRA training is completed online using the edge system. Edge will track your
FSRA Training?         learning and can provide you with a history of all completed online courses. If you
                       experience any difficulties accessing the system or whilst working through any on-line
                       modules, you can contact edge Support on 1300 781 780 or email

Who will support me    If you require support or coaching during your online learning, a qualified tutor will be
during my learning?    available to assist you. Your Manager/Account Manager has your State’s Tutor Details.

What does the FSRA     CGU have developed on-line training to assist you in understanding and meeting the
Training consist of?   new obligations of the Act. The certifications (Tier 1 & Tier 2) require learners to
                       become competent in the following areas:

                                                     Block Title              Tutor Supported?

                                             Underpinning Knowledge
                                               (Contains 4 modules)
                                                Product Knowledge
                                             (Contains product modules)
                                                  Advisory Skills
                                                (Contains 4 modules)
                                           Personal Accident Insurance*
                                               (Contains 3 modules)
                                               Business Compliance
                                                (Contains 4 modules)
                                                (Contains 6 modules)

                       *The Personal Accident (Tier 1) component of the FSRA is compulsory only for those who deal and
                       advise in this product.

What service do I      You receive Tutor support for 4 of the 7 blocks within the FSRA. A tutor is assigned to a
receive when I am      Learner and is able to coach and intervene when required. The tutor will assist with
Tutor supported?       unlocking modules, conducting workplace assessments and marking case studies.

Do I receive           The CGU FSRA training is mapped to nationally endorsed competencies. Upon
recognition once I     successful completion of Tier 2 Training, you will receive a Statement of
have completed my      Attainment towards Certificate III in Financial Services. If your job role requires you to
FSRA Training?         complete Tier 1 Training, you will also be issued with an additional Statement of
                       Attainment towards the Diploma of Financial Services, upon successful completion.

CGU Learning & Development - Compliance Learning                                                        11/04/2006
The Assessment Process
What is a                    At the end of each module, you will be required to complete a summative assessment,
summative                    which consists of a series of questions in relation to the whole course. When you submit
assessment?                  your summative assessment online it will be assessed automatically. The courseware will
                             display a screen to notify you of your result. Your result can either be: Competent OR
                             Further Development Required.

How many                     For blocks that are tutor supported, learners are given three attempts at the online
attempts do I have           assessment for each module, with tutor support offered throughout. The second and third
at the online                attempts at summative assessment focus only on those specific areas where the learner
assessment?                  has not demonstrated competence, and not the entire module of learning.

How does the tutor           Tutors are notified of learners unsuccessful attempts via an automated email. The Tutor
know if I have been          will make contact with the learner within 48 hours and coach them through the questions
unsuccessful in my           prior to unlocking the module. Once the Tutor unlocks the module, learners can proceed
assessment?                  with their learning. Learners are encouraged to revisit the course content and then have a
                             third attempt at the assessment.

What happens if I            In situations where the learner has not demonstrated competence after the third on-line
receive a ‘Further           attempt at the summative assessment for a module, Work Place Assessment will be
Development                  offered to that learner. Workplace Assessment provides the learner with a fourth and final
Required’ result?            opportunity to demonstrate competence and requires the Tutor to schedule a time to
                             verbally ask a series of assessment questions in relation to the online courseware.

The diagram below explains how the on-line assessment process works:
                                    Tutor is notified of Locked Learner via an automated email
                                       Tutor makes contact with the Learner within 48 hours
                                  Tutor coaches the Learner through the question (s) the Learner
                                answered incorrectly and addresses any concerns the Learner may
                                   Tutor unlocks the module giving the Learner a third and final
                                           attempt to complete the on-line assessment

    Learner successfully completes their third attempt                       Learner unsuccessfully completes their third
               at the on-line assessment                                          attempt at the on-line assessment

      Learner is able to continue with their remaining                    Learner achieves a ‘Further Development Required’
                          modules                                           result and is required to complete a Work Place
                                                                               Assessment with the Tutor at a later date


CGU Learning & Development - Compliance Learning                                                                      11/04/2006
Accessing edge
Each learner is given a username and password to log into edge for the first time. Before you begin your FSRA
Training, edge will prompt you to change your password. Your password should be kept confidential and
prevents another person from accessing your information.

Below are some helpful tips to consider:

I have been set up in     You can reset your password at any time by clicking the ‘Click here to reset your
the system but my         password’ link. This will open a new screen where you can enter your username. User
password has not          names are usually your firstname_lastname.

I have reset my           If you have reset your password and have not received it within 10 minutes, please
password but have         contact edge Support on 1300 781 780. The most common reason for a learner not
not received the          receiving a password is that their email address is incorrect.
email yet

I have reset my           Make sure you enter the password correctly by using the upper and lower case letters.
password but it does      A useful tip is to copy and paste the password from the email you receive, into the
not work                  password area on the login page. If this does not work, please contact edge Support
                          on 1300 781 780.

What is a                 A ‘Certification’ is a group of learning activities that can include both courses and / or
‘Certification’?          products. When a learner completes all learning activities in a certification, they attain
                          that certification.

Where do I find the       Courses you need to complete are kept in the ‘certification’ tab. To start your training
courses I need to         click on ‘Certification’ in the left hand menu, this will take you into the modules you
complete?                 need to complete within that certification. You can now register for these modules and
                          begin your learning.

I do not have a           There may not be a launch option next to your modules for two of the following
launch option for my      reasons;
modules                       ‐  You have not yet registered for the course. Click the word register and enter
                                 your password. You can now launch this course.
                              ‐  Your training has expired, you will need to contact your Manager/Account
                                 Manager and have them approve the extension of the certification and send an
                                 email to edgesupport@iag.com.au with this request.

                          NB: All CGU employees will have access to edge via Inside IAG.


             Welcome to your Learning

CGU Learning & Development - Compliance Learning                                                         11/04/2006

Shared By:
Tags: FSRA, Support, Pack
Description: FSRA Support Pack