UNIT GROUP 2221 FINANCIAL BROKERS

FINANCIAL BROKERS operate as independent agents to facilitate the trading of commodities and arrange insurance and loans of money on behalf of clients.

Indicative Skill Level:
Most occupations in this unit group have a level of skill commensurate with the qualifications and experience outlined below.

In Australia:

AQF Associate Degree, Advanced Diploma or Diploma (ANZSCO Skill Level 2)

In New Zealand:
NZ Register Diploma (ANZSCO Skill Level 2)

At least three years of relevant experience may substitute for the formal qualifications listed above. In some instances relevant experience and/or on-the-job training may be required in addition to the formal qualification.

Registration or licensing may be required.

Tasks Include:

• monitoring commodity prices, trends and other factors affecting the supply and demand for commodities
• negotiating the purchase and sale of commodities such as grains, wool, minerals and metals
• determining the specific financial and insurance requirements of clients, and researching and reviewing available finance and insurance products for suitability to meet clients' requirements
• analysing clients' financial status, discussing financial options and developing financial strategies
• recommending loan combinations that meet clients' needs
• interviewing prospective clients to explain insurance policy conditions, risks covered, premium rates and benefits, and to make recommendations on the amount and type of cover
• arranging insurance, home loan mortgages and other types of finance for clients through banks, lenders, financiers and insurance companies
• preparing documents which set out the conditions of finance, repayments and loan periods
• identifying and advising on significant risk changes to clients' insurance
• broking complex and commercial leases, equipment finance, commercial finance, project finance and finance for property developers

Occupations:
222111 Commodities Trader
222112 Finance Broker
222113 Insurance Broker
222199 Financial Brokers nec

Alternative Title:
Commodities Broker

Operates as an independent agent to bring together buyers and sellers of commodities, negotiates private sales and arranges sales through established market places.

Skill Level: 2

Specialisations:

Energy Trader
Grain Buyer
Livestock Trader
Media Buyer
Wool Broker

Operates as an independent agent in the course of financial negotiations and arranges loans of money on behalf of clients. Registration or licensing is required.

Skill Level: 2

Specialisations:

Lease Broker
Mortgage Broker

Operates as an independent agent to sell life, fire, accident, industrial or other forms of insurance for a range of insurance companies. Registration or licensing may be required.

Skill Level: 2

This occupation group covers Financial Brokers not elsewhere classified. Registration or licensing may be required.

Skill Level: 2

Occupations in this group include:

Investment Broker