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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED QUALIFICATION: 

Diploma in Financial Services Operations 
SAQA QUAL ID QUALIFICATION TITLE
115936  Diploma in Financial Services Operations 
ORIGINATOR
University of Johannesburg 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
CHE - Council on Higher Education  HEQSF - Higher Education Qualifications Sub-framework 
QUALIFICATION TYPE FIELD SUBFIELD
Diploma (Min 360)  Field 03 - Business, Commerce and Management Studies  Finance, Economics and Accounting 
ABET BAND MINIMUM CREDITS PRE-2009 NQF LEVEL NQF LEVEL QUAL CLASS
Undefined  360  Not Applicable  NQF Level 06  Regular-Provider-ELOAC 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Reregistered  EXCO 0821/24  2020-01-08  2027-06-30 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2028-06-30   2033-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This qualification replaces: 
Qual ID Qualification Title Pre-2009 NQF Level NQF Level Min Credits Replacement Status
94699  Diploma in Financial Services Operations  Not Applicable  NQF Level 06  360  Complete 

PURPOSE AND RATIONALE OF THE QUALIFICATION 
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. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
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. 
    		•

    RECOGNISE PREVIOUS LEARNING? 
    Y 

    QUALIFICATION RULES 
    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. 
    		•

    EXIT LEVEL OUTCOMES 
    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 
    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. 
    		•

    INTERNATIONAL COMPARABILITY 
    Malta International Training Centre (MITC) offers a Diploma in Financial Services Operations and Compliance. The delivery mode differs for the International modules and local modules. The institutions provide the international modules online while the local modules are classroom-based.

    International Modules (All compulsory and delivered online):
  • Introduction to Financial Systems.
  • Comparative Financial Systems.
  • Risk and Expected Return in Capital Markets.
  • Role of Financial Intermediation.
  • Main Issues in Financial Systems.
  • Financial Crises.
  • The rationale for Banking Regulation.
  • Conflict of Interest in the Financial Industry.
  • Regulation in Primary and Secondary Markets.
  • Case Studies (insurance, pension and mutual funds).

    Local Modules (Classroom Based) All Compulsory:
  • Principles of Company Law and Registration.
  • Principles of Corporate Governance.
  • Prevention of Money Laundering.
  • Prevention of Market Abuse.
  • Principles of Insolvency and Bankruptcy.
  • Principles of Taxation related to Double Taxation Agreements.
  • The Central Bank of Malta and the Malta Stock Exchange.

    Electives: to choose one from:
  • Principles of Banking Regulation.
  • Principles of Insurance Regulation.
  • Principles of Investment Services Regulation.

    The institution's qualification is closely related to this qualification as both foci on similar content areas. Their content covers the financial systems, risk in the capital market, banking and financial markets regulation, tax and many more. All these topics covered in the South African qualification modules, for example, risk in the capital market is also in the international Risk in the Financial Services module.

    The Charted Institute of Securities and Investments in the United Kingdom offers the Investment Operations Certificate. The Diploma in Financial Services Operations is closely related to this qualification as both foci on similar content areas. They cover an introduction to securities and investment, regulation, operational risk and risk in the financial services as on the South African qualification. For example, introduction to securities and investment is also under the Fundamentals of Financial Services module.

    Modules:
    Introductory units.
  • Introduction to Securities and Investment.
    Or
  • International Introduction to Securities and Investment.
    Regulatory units.
  • UK Financial Regulation.
    Or
  • Local regulatory paper.

    Technical units (one of the following).
  • Administration of Settlement and Investments.
  • Asset Servicing.
  • Collective Investment Schemes Administration.
  • Combating Financial Crime.
  • Exchange-Traded Derivatives Administration.
  • Global Financial Compliance.
  • Global Securities Operations.
  • ISA Administration.
  • IT in Investment Operations.
  • Operational Risk.
  • OTC Derivatives Administration.
  • Risk in Financial Services.

    Conclusion:
    This qualification compares favourably to the qualifications offered at Malta International Training Centre in Southern Europe and the Charted Institute of Securities and Investments in the United Kingdom in terms of having similar modules and the each of the module focus on related aspects. 
    		•

    ARTICULATION OPTIONS 
    The qualification allows possibilities for both horizontal and vertical articulation.

    Horizontal Articulation:
  • Diploma in Financial Management, NQF Level 6.
  • Diploma in Financial Accounting, NQF Level 6.

    Vertical Articulation:
  • Advanced Diploma in Financial Markets, NQF Level 7.
  • Advanced Diploma in Financial Management, NOF Level 7.
  • Bachelor of Commerce in Finance, NQF Level 7. 
    		•

    MODERATION OPTIONS 
    N/A 

    CRITERIA FOR THE REGISTRATION OF ASSESSORS 
    N/A 

    NOTES 
    N/A 

    LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION: 
    When qualifications are replaced, some (but not all) of their learning programmes are moved to the replacement qualifications. If a learning programme appears to be missing from here, please check the replaced qualification.
     
    NONE 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS QUALIFICATION: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    NONE 


    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.