Responsible Managers are directly responsible for significant day-to-day decisions about how their organisation provides financial services. The AFMA Responsible Managers Program is the first qualification of its kind that teaches participants what they need to know about being responsible managers, including how to:

  • Critically assess whether organisations are fulfilling their legal and compliance obligations as AFS licensees.
  • Identify areas where their organisation could benefit from doing things differently.
  • Demonstrate the appropriate knowledge and skills relevant to their role.

Who should enrol?

The Program has been designed so that new and existing responsible managers can maintain an agreed level of competence and AFS licensees comply with their obligations under the Corporations Act 2001. The program will benefit individuals who:

  • Seek to demonstrate the appropriate level of knowledge and skills relevant to their role.
  • Seeking product specific ASIC RG146 and/or RG105
  • Seek professional development appropriate to their role as a responsible manager.

What will you achieve?

When you successfully complete the program you will achieve one or more of the following:

  • The nationally recognised Advanced Diploma of Financial Licensing Management FNS60710. You will be entitled to use the post nominal Adv.Dip.FLM
  • Compliance with the knowledge and skills requirements for responsible managers under ASIC RG105
  • ASIC RG146 compliance if you complete the product specialist advising pathway
  • AFMA accredited individual status if your employer is an AFMA member  and depending on the study pathway chosen
  • Up to 54 Regulation & Compliance continuing education hours

How is the program structured?

There are three modules within the program that that must be completed.

  1. The compulsory Clinic 1 responsible managers: your role and obligations
  2. The compulsory Clinic 2 responsible managers: your role and obligations
  3. One additional module. Choose from:

There are two pathways that can be followed to complete the program.

  • Pathway 1 (Risk) focuses on building an understanding of risk management structures by completing Clinic 1, Clinic 2 and Clinic 3.
  • Pathway 2 (Specialist Product) enables participants to build the skills particular to a specialist financial product by completing Clinic 1, Clinic 2 and one of the specialist modules.

More information

For detailed information on the Responsible Managers Program, please read through the information below.