Diploma in Financial Services Operations

Purpose

The goal of the Diploma in Financial Services Operations is primarily vocational, to prepare the learner for a career in the financial services industry. The qualification will also make the learner for further study should they wish to pursue an academic pathway. The qualification provides fundamental knowledge of global financial services to prepare the learner for work in the professional financial services operations industry. It emphasises competence, integrity, and application of ethics in a professional environment. Mastering of the curriculum will provide learners with the ability to synthesise financial services operations principles professionally and the in-depth global and South African financial market perspective offer a competitive advantage for employment.

Rationale

This qualification is a specialised qualification that is now in demand by industry.

The Finance and Accounting Services Sector Education and Training Authority (FASSET) researched in 2009 and concluded that there is a need for qualification as an entry route into the financial services industry. One of the reasons cited is that there is a shortage of skilled and appropriately qualified people for positions in the South African financial services industry. The qualification will enhance the flow of young individuals with an understanding of financial services operations, into the local labour market.

The financial services industry plays a critical role in the functioning of the economy. The legislation and the rules and regulations of the various regulating bodies and exchanges govern all the operational activities that take place in the financial services industry. For the system to function optimally and to serve the interests of market participants and the economy as a whole, all participants must be fully qualified to perform the functions entrusted to them competently and ethically.

This qualification is accessible to learners with a National Senior Certificate, and the successful qualifying learners will be able to access a Bachelor's Degree. The qualification will meet the demand for a solid foundation in and understanding of the financial services industry. Tutorials will form a large part of the curriculum to assist learners in understanding and applying theoretical concepts to a practical environment. This qualification creates a pathway for the academic progression of qualifying learners into current academic streams.

The institution has partnered with the Chartered Institute of Securities and Investment (CISI) to ensure that a leading market qualification is available. As part of the partnership, actual CISI units form part of the qualification and learners will have the opportunity to obtain a CISI internationally recognised award, namely the Investment Operations Certificate. The institution notes, however, that all assessments are institutional assessments and are subject to the assessment and moderation policies as required. CISI assessments and requirements, while embedded in the qualification, will not replace evaluation by academics teaching on the qualification.

Recognition of Prior Learning (RPL)

The institution accepts Recognition of Prior Learning (RPL) as an integral part of education and educational practice. Furthermore, the institution acknowledges that all learning has value, and it will endeavour to assess prior learning and award credit where relevant.

The RPL process follows the institution's RPL policy, which will be applied as follows for purposes of this qualification:

• Through RPL a learner may gain access, or advanced placement, or recognition of status, on condition that he/she continues his/her studies at the institution.
• Recognition takes place in terms of requirements and procedures applied by the CBE.

Entry Requirements

The minimum entry requirements for this qualification are

• Senior Certificate, NQF Level 4.

Or

• National Senior Certificate, NQF Level 4 granting access to Diploma studies.

Or

• National Certificate Vocational, NQF Level 4 granting access to Diploma studies.

This qualification consists of compulsory modules at NQF Levels 5 and 6 totalling 368 Credits.

Compulsory modules, Level 5: 240 Credits.

• Quantitative Techniques 11, 12 Credits.
• Financial Accounting 11, 12 Credits.
• Financial Services Computing 11, 12 Credits.
• Financial Services Economics 11, 12 Credits.
• Fundamentals of Financial Services 11, 12 Credits.
• Quantitative Techniques 12, 12 Credits.
• Financial Accounting 12, 12 Credits.
• Business Management 12, 12 Credits.
• Financial Services Economics 12, 12 Credits.
• Introduction to Finance 12, 12 Credits.
• Financial Accounting 21, 12 Credits.
• Risk in Financial Services 21, 12 Credits.
• Professional skills 12, 12 Credits.
• Entrepreneurship 11, 12 Credits.
• Financial Services Operations 21, 12 Credits.
• Financial Accounting 22, 12 Credits.
• Risk in Financial Services 22, 12 Credits.
• Ethics 11, 12 Credits.
• Banking Operations 22, 12 Credits.
• Financial Services Operations 22, 12 Credits.

Compulsory modules, Level 6: 128 Credits

• Financial Accounting 31, 16 Credits.
• Financial Market Regulatory Environment 31, 16 Credits.
• Financial Services Operations 31, 16 Credits.
• Financial Services Preparations 31, 16 Credits.
• Financial Accounting 32, 16 Credits.
• Financial Market Regulatory Environment 32, 16 Credits.
• Financial Planning Operations 32, 16 Credits.
• Financial Services Operations 32, 16 Credits.

1. Identify and explain financial services operations from commencement to conclusion in a financial services environment.
2. Define the nature of financial instruments and refer to the valuation thereof.
3. Construct multiple options of applying and integrating financial services operations knowledge to solve theoretically, applied or real-life financial services operations problems.
4. Explain the key aspects and implications of specified systems, situations, specified bodies of content and effect in the financial services industry.
5. Exhibit an ability to reflect with self and others, critical of own and other people's thoughts and actions, and capable of self-organisation and working in groups in the face of the continual challenge from the financial environment.
6. Apply accounting principles, concepts and processes and prepare financial statements.

Associated Assessment Criteria for Exit Level Outcome 1

• Discuss the role of the financial services industry.
• Identify participants of the financial system.
• Explain the operation of financial systems.
• Describe relevant techniques to manipulate, analyse, display and interpret the data.

Associated Assessment Criteria for Exit Level Outcome 2

• Distinguish the different types of financial assets.
• Identify the prominent financial markets instruments.
• Explain the role of interest rates in valuation.
• Explain the behavioural analysis of securities.
• Describe the technical analysis of securities.

Associated Assessment Criteria for Exit Level Outcome 3

• Explain the different steps in financial markets transactions.
• Identify the various types of corporate actions.
• Take appropriate correct corporate efforts to solve corporate action issues.
• Calculate property valuation principles.

Associated Assessment Criteria for Exit Level Outcome 4

• Describe the critical aspects of specified systems in the financial services environment.
• Interpret different situations and implications of specified bodies of content.
• Explain the effects of different conditions and consequences of specified organisations of material in the financial services environment.
• Explain and analyse the importance of business ethics and consider the relevant aspects of developing ethical behaviour and a code of ethical conduct in an organisation.
• Analyse the skills, roles and characteristics of managers as essential role players in establishing the effective and efficient business practice.
• Acknowledge the diversity of society and opinion while exploring the common or shared values within the South African community.

Associated Assessment Criteria for Exit Level Outcome 5

• Demonstrate the ability to act professionally and respectful with co-workers, clients, suppliers during face-to-face or via an online chatting and online learning logs.
• Identify personal work-related problems and find logical solutions.
• Contribute towards the planning and coordination of group work.

Associated Assessment Criteria for Exit Level Outcome 6

• Perform correct accountancy calculations.
• Interpret and explain the calculation outcomes clearly.
• Identify appropriate corrective actions from the issues interpreted.
• Suggest necessary measures to reap benefits from the issues interpreted.
• Prepare and present consolidated financial statements of companies.

Integrated Assessment

The assessment strategies of this qualification reflect the tenet of academic integrity.

Assessment is coherently designed as an integral part of the learning process to ensure full alignment with the purpose of the qualification and its learning outcomes, assessment criteria, assessment strategies and opportunities.

Assessments vary depending on the module, and the outcomes of the module, however formative assessment of all modules are conducted continuously throughout the learning experience. The final mark consists of at least four continuous summative assessment opportunities per module. The assessment includes a range of methods that are fit for purpose and followed by constructive electronic feedback to support the learning process.