FNS20 Training Package Update

Every five years, a major review of the competency framework for the Financial Services Training Package is undertaken. This is part of a continuous improvement process to keep up to date with the industry's needs and changing circumstances.
 
The recent review was conducted by PwC's Skills for Australia and ANZIIF, like many other education providers, actively participated in identifying skills and knowledge needs in the workforce.
 
As a result of the review and subsequent endorsement of the training package by the Australian Government and state and territory governments, ANZIIF is required to update its qualification from the FNS15 Financial Services Training Package to the new 2020 Financial Services Training Package (FNS20).
 
The FNS20 Training Package will take effect from November 2021. If you are still partway through your qualification after November, the new updates will apply to you and additional studies will be required to cover off the changes. 
 
We are in the process of mapping the changes to provide a transition pathway for you. Our aim is to ensure continuing students are not disadvantaged, but this is dependent on the changes in the new training package which are outside of our control.
 
Our recommendation is to complete your studies by November 2021 so that you are not impacted by the new training package. If this is not possible, we will be in touch with a transition pathway when it is available, before November. For the Diploma of Loss Adjusting, students should complete their final module in the last study period in this year. 

FAQ

Q. What is FNS20 and why are you making this change?
A. As a result of a review conducted by PwC's Skills for Australia and subsequent endorsement of the training package, all Registered Training Providers are required to update all courses from Financial Services Training Package FNS15 to the new Financial Services Training Package FNS20. 

Q. What is a Training Package?
A. A Training Package is a set of nationally endorsed standards and qualifications used to recognise and assess the skills and knowledge people need to perform effectively in the workplace. 
Training Packages are a key resource for registered training organisations (RTO’s) in the delivery of structured, accredited training.

Q. When will the new training package FNS20 come into effect?
A. 3rd November 2021. For the Diploma of Loss Adjusting, 2nd February 2022.

Q. How will the training package update affect me?
A. ANZIIF is currently reviewing the changes and we will be in touch with a transition pathway when it is available, before November. 

Q. I just started/am half-way through my qualification. Does this affect me?
A. Yes.  If you are still completing your qualification by 3rd November, then you will be affected.  We are currently reviewing the changes and we will be in touch with a transition pathway when it is available, before November. For the Diploma of Loss Adjusting, students should complete their final module in the last study period in this year.

Q. I completed my qualification between 1990 - current day. Will it still be valid when FNS20 comes into effect?
A. Yes.  Once you attain a qualification, it is yours for life.  However, you must continue to keep your industry knowledge up-to-date.