Finance Broker ANZSCO Code 222112
A finance broker acts as an intermediary that assists businesses and individuals in obtaining financial services and products financial institutions offer. They also serve as intermediaries between the lenders and the borrowers, offering advice and assistance in helping clients find the most suitable financial solution to meet their needs.
Occupation Descriptions
Finance brokers play an important role in helping customers navigate the complex financial landscape, make informed choices, and obtain the most effective financial products and services.
Occupations considered Suitable Under the ANZSCO Code 222112
- Mortgage Broker
- Lease Broker
Occupations Not Considered Suitable Under the ANZSCO Code 222112
- Futures Trader
- Financial Market Dealer
- Commodities Trader
- Stockbroking Dealer
- Financial Investment Advisers and Managers
- Insurance Broker
- Credit and Loans Officer
These occupations are classified differently in the ANZSCO or do not meet the required skill level.
Group Allocation
Finance Broker is a VETASSESS Group C Occupation
This occupation requires an educational degree equivalent to the academic level of an Australian Qualification Framework (AQF) Diploma or higher.
Candidates can meet the required criteria for this occupation in four different ways:
Other qualifications that are in a relevant subject include those equivalent to these levels:
- AQF Diploma
- AQF Advanced Diploma
- AQF Associate Degree
- or AQF Graduate Diploma
Highly relevant paid job duration (20 hours or above per week)
1-3 minimum years of employment highly relevant to the occupation of choice completed at a suitable skill level within the five years preceding the date of the application for a Skills Assessment.
Minimum of 4 years of relevant employment is required. Three years of relevant work (outside the last five years) plus at least one year of highly relevant work within the previous five years before applying.
If employment occurs before attaining the required qualification level, the applicant should have at least one year of relevant work at a suitable skill level within the past five years. The three remaining pre-qualifying periods can be in the past ten years.
An assessment that is positive of both the qualification level and the duration of employment is essential to get an excellent Skills Assessment outcome.
Qualification and Employment Criteria
Qualification
It includes qualifications evaluated at the AQF Advanced Diploma, Associate Degree, Bachelor’s, Master’s, and Doctoral Degree.
Relevant Major Fields of Study Include:
- Finance
- Accounting
- Econometrics
- Economics
- General Commerce
- Management
- Business
Employment
Closely relevant tasks include, but are not limited to:
- Determining client’s specific financial needs, and researching and reviewing finance goods for suitability that meets client’s needs.
- Analyzing client’s financial status, discussing financial options, and developing strategies.
- Suggesting loan combinations that meet client’s needs.
Other tasks may include:
- Arranging home loan mortgages and different kinds of finance for clients through lenders, banks, and finance companies.
- Preparing documents that include the conditions of finance, repayments, and loan periods.
- Ensuring client’s current financial status and intentions.
- Giving information and advice about credit products and related finance transactions.
- Identifying credit providers that may approve loans for specific situations.
- Evaluating client’s borrowing capacities.
- Helping in the selection of the most suitable loan structure and products that match the client’s goals.
- Completing loan application papers.
- Updating clients on their application’s progress and credit approval.
- Establishing relationships with credit providers to ascertain that settlement of client’s loans occurs without delay.
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Employment Information
Finance Brokers are “go-betweens” who usually work with credit unions and banks for their clients to facilitate auto loans, home loans, and commercial finance and investment.
They act as independent agents, helping clients obtain loans from various financial institutions. They usually operate for mortgage brokerage or lease broking companies, typically small or medium-sized businesses. They may also be self-employed.
Financial Dealers, Managers, and Financial Investment Advisers are classified separately in ANZSCO and are not considered part of this job.
Supporting Materials for Assessment
When you apply for a Skills Assessment, please provide sufficient evidence to support your identity proof or qualification and your employment claims. A complete list of documents needed is available on the VETASSESS website under Eligibility Criteria.
Although the VETASSESS skills assessment for immigration purposes differs from an assessment to determine registration or licensing purposes, It is recommended that you give copies of any relevant licenses (including ones from outside) if you have.
It is also recommended that proof of membership or affiliation with professional or industrial organizations be shown, as well as copies of any prizes or certificates of acknowledgement.
Also, you should provide specific details of any training or professional development classes you have taken. These can be listed in your Curriculum Vitae/Resume.
1. Find
Find the VETASSESS occupation that best matches your abilities and experience.
2. Match
Match your skills and experience to your chosen occupation.
3. Prepare
Get ready to apply by preparing all the information and documents you need.
4. Apply
Apply online when you’re ready. If you’re still unsure, skills assessment support is available when you need it.