Financial Brokers nec ANZSCO Code 222199
Financial brokers nec professionally engage in activities that involve brokering financial transactions. However, they do not fall under other financial broker categories as per the ANZSCO.
Occupation Descriptions
A financial broker is an individual who operates as an individual agent to facilitate the trading of goods and arrange insurance and loans on behalf of clients. Financial Brokers nec are financial brokers not elsewhere classified in the ANZSCO.
Occupations Considered Suitable Under the ANZSCO Code 222199
- Investment Broker
Occupations Not Considered Suitable Under the ANZSCO Code 222199
- Financial Market Dealer
- Stockbroking Dealer
- Futures Trader
- Commodities Trader
- Insurance Broker
- Finance Broker
- Financial Investment Managers and Advisers
- Business Broker
These roles are classified differently in the ANZSCO or do not meet the required skill level.
Group Allocation
VETASSESS classifies Financial Brokers nec Under Group C Occupation
It requires a qualification equivalent to the educational level of an Australian Qualification Framework (AQF) Diploma or higher.
Candidates can fulfill the criteria for this occupation in four different ways:
Other qualifications in a highly relevant field of study include those similar to the following levels:
- AQF Diploma
- AQF Associate Degree
- AQF Advanced Diploma
- AQF Graduate Diploma
Relevant paid employment duration (20 hours or above per week)
1-3 minimum years of employment closely relevant to the job completed at a suitable standard in the five years preceding the date of the application for a Skills Assessment.
A minimum of four years of related work is required. Three years of relevant work (outside the previous five years) and at least one year of relevant work within those five years before applying.
If employment occurs before completing the requirement level, the candidate must hold at least one year of highly relevant work with a skill level that is appropriate in the past five years. In addition, the remaining three years in the pre-qualifying period could be within the ten years preceding the date of application.
A positive assessment of the qualification degree and duration of employment is necessary for a favorable Skills Assessment outcome.
Qualification and Employment Criteria
Qualification
AQF Diploma or higher education.
It requires qualifications equivalent to the AQF Diploma, Advanced Diploma, Bachelor’s, Master’s, and Doctoral Degree.
Closely Relevant Major Fields of Study Include:
- Finance
- Business
- Economics
- General Commerce
- Accounting
- Econometrics
- Management
Employment
Relevant tasks include, but are not restricted to:
- Dealing with complex and commercial leases, commercial finance, equipment finance, and project finance for property developers.
Other tasks may include:
- Interviewing possible clients to understand their needs.
- Analyzing clients’ financial positions, discussing financial options, and developing strategies.
- Determining the specific financial needs of clients and researching and reviewing available products to meet clients’ needs.
- Suggesting loan combinations that meet clients’ requirements.
- Preparing documents that include the conditions of finance, loan periods, and repayments.
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Employment Information
Financial Brokers nec serve as ”go-betweens who usually collaborate with credit unions and banks to assist customers in obtaining loans. They function as independent agents that assist clients in obtaining loans from various financial institutions. They usually work for brokerage firms specializing in these generally small or medium-sized enterprises. Some are self-employed. Financial Brokers who are not classified elsewhere can offer commercial and complex leases, commercial finance, equipment finance, project finance, and financing for developers of properties. The term Investment Broker is a speciality that falls under the job Group.
Brokers usually require communication and interpersonal skills, analytical skills, and business knowledge. A strategy based on the outcomes. They also need a thorough understanding of financing options and client demands.
It is important to note that financial dealer managers and investment advisors are separate within ANZSCO as they aren’t part of the profession. In addition, brokers who aren’t part of the ANZSCO system are not considered part of it. ANZSCO cannot be considered.
Supporting Materials for Assessment
If you’re applying for a Skills Assessment, please ensure adequate proof to support your identity, employment, and qualification claims. The complete list of documents required can be found on the VETASSESS website under Eligibility Criteria.
You should explain in your cover letter the reasons behind choosing the “nec” classification.
While the VETASSESS assessment of your skills for purposes of immigration differs from a test to determine the validity of registration or licensing, it is recommended that you provide copies of your relevant licenses (including ones from overseas) if you have them.
It would also help to write about any relevant training or professional course you’ve completed.
They could be incorporated into the Curriculum Vitae/Resume.
Not Elsewhere Classified (NEC)
Jobs classified as “nec” by VETASSESS means “not elsewhere classified”. In this case, confirming that your credentials and work experience are in line with the requirements and correspond to the job titles on the ANZSCO description is crucial. Other jobs not listed in ANZSCO will be assessed case-by-case and compared directly against “nec” codes. If you examine your work concerning a “nec” number, your job is usually classified as not classified. However, it’s explicitly linked with that particular ANZSCO Unit Group Description.
Your work in these professions should differ from an ANZSCO code (whether determined by VETASSESS or otherwise). If you are considering choosing a “nec” occupation, look at the description for the sub-major group and decide if your skills most closely match the requirements of this group.
VETASSESS performs a case-by-case analysis to determine if the work could be considered highly pertinent to the class. Suppose your job is relevant to another ANZSCO occupation. In that case, the work time cannot be analyzed correctly against a “nec” classification, regardless of whether your position is suitable for migration purposes.
You must provide a cover letter that justifies the reason for choosing a “nec” category.
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.