Diploma of Financial Counselling - CHC51122

Course Overview

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Average Course Duration: Not available

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Australian Apprenticeships

This course is available as an Australian Apprenticeship. The fee and duration of an Australian Apprenticeship may differ in each state or territory – view more details.

Description

This qualification reflects the role of financial counsellors working in the following two contexts:

Generalist financial counsellors who work in agencies that meet the requirements for exemptions from holding both an Australian Financial Services Licence and an Australian Credit Licence. Financial counsellors work across a variety of metropolitan, regional and remote settings. Generalist financial counsellors can assist both individuals and small businesses.

Rural financial counsellors undertake specialised financial counselling work that assists primary producers and rural small businesses, and are employed in agencies funded for this purpose. These agencies meet the requirements for an exemption from holding an Australian Credit Licence.

All financial counsellors are experts in financial difficulty and provide advice and support to help clients get back on top of their financial issues. They work from a model of social justice and client empowerment.

This qualification is NOT related to the work performed by financial planners or financial advisers whose role is to provide clients with strategies to address their investment options and requires a financial services licence. This qualification is also not appropriate for financial capability workers.

This qualification does NOT refer to therapeutic counselling. Psychological issues, which affect individuals, families and groups such as gambling, substance abuse, child abuse and mental or physical health problems require referral to a professionally qualified practitioner However, a recognition of, and an ability to work within, a counselling framework and the way in which other issues may interact with financial issues is highly relevant to financial counselling practice.

To achieve this qualification, the individual must have completed a total of at least 220 hours of work in an industry workplace or simulated industry environment as detailed in the relevant assessment requirements of the units of competency. The total number of hours may be applied collectively across all units of competency that include the requirement for workplace hours.

The skills in this qualification must be applied in accordance with Commonwealth and State or Territory legislation, Australian standards and industry codes of practice.

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Student Outcomes

Students who graduate from VET courses are surveyed approximately 6 months after they have completed their training. For more information on the statistics provided in this section, including the different levels (course, field of education, all fields of education) of data available please select the Learn more button below.

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NOTE: This course is more recent than the latest Student Outcomes Survey.

Satisfied with Training

Percentage of graduates in the Society and Culture field who were satisfied with the training (Diploma).

Improved Work Status

Percentage of graduates in the Society and Culture field who started/expanded a business or who have a new job, more highly skilled work, a promotion or higher pay (Diploma).

Salary

The middle of the range of salaries earned by graduates in the Society and Culture field starting their first ever full-time job after graduating (Diploma).

Jobs

Graduates of the Society and Culture field (Diploma) are most often employed as:

39.3%

Community and Personal Service Workers

28.9%

Professionals

15%

Clerical and Administrative Workers

Industries

Graduates of the Society and Culture field (Diploma) are most often employed in:

52%

Health Care and Social Assistance

15.6%

Public Administration and Safety

10.1%

Education and Training

All statistics are supplied by the National Centre for Vocational Education Research.

Financial Assistance

The federal, state and territory governments provide financial incentives and support for vocational education and training students to help them gain the skills required to secure and maintain rewarding and sustainable employment.

There are programs for all kinds of students; apprentices and trainees, new job starters, those re-entering the workforce, retraining for a new job or upgrading their skills for an existing job.

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Subsidised Training

State and territory governments dedicate funds to reduce or, in some cases, fully cover tuition fees for VET students who wish to study certain courses.
Unfortunately, no subsidies are currently available for this course.

VET Student Loans

This course is eligible for a VET Student Loan from the Australian Government to assist students with paying tuition fees. The maximum amount that can be loaned for this course is $16,788.

The initial debt amount (including the loan fee, if applicable) plus indexation must be paid back once the loan recipient starts earning over a certain amount. Compulsory repayment threshold information is available on the Australian Taxation Office (ATO) website.

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Australian Apprenticeships

Australian Apprenticeships (also known as apprenticeships and traineeships) combine work with training in a nationally recognised qualification. Australian Apprenticeships are available to anyone of working age and offer opportunities to learn new skills and be paid in over 500 different jobs.

This qualification is available as an Australian Apprenticeship in the states and territories highlighted in blue on the map. For more information go to the Australian Apprenticeships Pathways website.

Australian Apprenticeships Pathways

Units & Packaging

17 units must be completed:

13 core units

4 elective units, consisting of:

1 unit from Group A

2 units from Group B or Group C

up to 1 unit from the electives listed below, any other current Training Package or accredited course.

Any combination of electives that meets the above rules may be selected for the award of the Diploma of Financial Counselling. Where appropriate, electives may be packaged to provide a qualification with a specialisation.

Packaging for specialisation:

CHCFIN011 Provide rural financial counselling services unit from Group A and at least 2 units from Group B must be selected for award of the Diploma of Financial Counselling (Rural).

The selection of electives must be guided by the job outcome sought and local industry requirements.

Core Units
CHCADV001	Facilitate the interests and rights of clients
CHCCCS019	Recognise and respond to crisis situations
CHCCSL001	Establish and confirm the counselling relationship
CHCCSL002	Apply specialist interpersonal and counselling interview skills
CHCCSL007	Support counselling clients in decision-making processes
CHCDIV001	Work with diverse people
CHCFIN006	Establish the financial counselling relationship
CHCFIN007	Provide advice, counselling and representation to financial counselling clients
CHCFIN008	Apply professional standards in financial counselling
CHCFIN009	Provide financial counselling and systemic advocacy within a social justice framework
CHCFIN010	Apply basic concepts of small business to financial counselling
CHCLEG002	Interpret and use legal information
CHCPRP003	Reflect on and improve own professional practice
Elective Units
Group A – Mandatory electives
CHCCDE018	Develop and implement community programs
CHCFIN011	Provide rural financial counselling services
Group B – Rural Financial Counselling specialisation
AHCAGB518	Develop climate risk management strategies
AHCAGB519	Plan and monitor production processes
AHCBUS516	Develop and review a business plan
AHCBUS518	Prepare and monitor budgets and financial reports
Group C – General electives
AHCAGB608	Manage financial resources
CHCCCS003	Increase the safety of individuals at risk of suicide
CHCCSM012	Coordinate complex case requirements
CHCDFV001	Recognise and respond appropriately to domestic and family violence
CHCDIV002	Promote Aboriginal and/or Torres Strait Islander cultural safety
CHCMHS005	Provide services to people with co-existing mental health and alcohol and other drugs issues
CHCSET003	Work with forced migrants
CHCSET004	Undertake bicultural work with forced migrants in Australia
CHCSOH013	Work with people experiencing or at risk of homelessness
CHCSOH021	Work with clients within the social housing system
FNSACC323	Perform financial calculations
FNSCUS411	Participate in negotiations

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USI

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