5313 Financial and Insurance Brokers
5313 Financial and Insurance Brokers
Operate as intermediaries to facilitate the sale and purchase of commodities and businesses, and arrange insurance and loans of money on behalf of clients.
OSCA skill level
The occupations in this unit group have a skill level corresponding to the qualifications and experience below.
- Skill Level 2: AQF Associate Degree, Advanced Diploma, Diploma, or at least three years of relevant experience
- Skill Level 3: AQF Certificate III including at least two years of on-the-job training, AQF Certificate IV, or at least three years of relevant experience
531331 Business Broker
Operates as an independent agent in the buying and selling of businesses.
Registration or licensing may be required.
Skill level: 3
Main tasks
- Identifies potential buyers and sellers of businesses, and evaluates businesses to determine their value and marketability
- Prepares marketing materials and listings, and manages administrative tasks related to the buying and selling of businesses
- Assists in the due diligence process for the sale of businesses
- Provides advice and guidance to clients on the buying and selling process, and facilitates negotiations between buyers and sellers
531332 Commodities Trader
Operates as an independent agent to bring together buyers and sellers of commodities, negotiates private sales, and arranges sales through established marketplaces.
Alternative title
- Commodities Broker
Specialisations
- Energy Trader
- Grain Buyer
- Livestock Trader
- Media Buyer
- Water Broker/Trader
- Wool Broker
Skill level: 2
Main tasks
- Monitors commodity prices, trends and other factors affecting the supply and demand of commodities
- Negotiates the purchase and sale of commodities such as grain, wool, minerals and metals
- Initiates, negotiates and agrees on terms of commodity purchases and sales contracts
- Determines supply and demand, surveys market conditions, and analyses other economic forces in order to establish a market position
531333 Finance Broker
Operates as an intermediary to perform finance negotiations, and arranges loans of money on behalf of clients.
Registration or licensing is required.
Specialisations
- Asset Finance Broker
- Commercial Finance Broker
- Mortgage Broker
Skill level: 2
Main tasks
- Brokers complex and commercial leases, equipment finance, commercial finance, project finance and finance for property developers
- Arranges home loan mortgages, car and personal loans, debtor finance, refinancing and other types of finance for clients through banks, lenders, financiers and insurance companies
- Assists with the application process and negotiates with lenders on behalf of clients
- Determines the specific financial requirements of clients, and researches and reviews available finance products for suitability to meet clients' requirements
- Analyses clients' financial status, discusses financial options and develops financial strategies
- Prepares documents that set out the conditions of finance, repayments and loan periods
531334 Insurance Broker
Provides advice on policies for life, fire, accident, health, industrial or other forms of insurance for a range of insurance companies.
Registration or licensing is required.
Skill level: 2
Main tasks
- Interviews prospective clients to explain insurance policy conditions, risks covered, premium rates and benefits, and makes recommendations on the amount and type of cover
- Determines the specific insurance requirements of clients, and researches and reviews available insurance products for suitability to meet clients' requirements
- Arranges insurance for clients through insurance companies
- Identifies and advises on significant risk changes to clients' insurance
531399 Financial and Insurance Brokers nec
This occupation group covers Financial and Insurance Brokers not elsewhere classified.
Registration or licensing may be required.
Skill level: 2
Occupations in this group include:
- Car Broker
- Investment Broker
- Shipbroker