Diploma of Financial Services
DurationPart-time may be available, Full-time 1 year
This program is suited to students who wish to work in banking and provide advice on financial products to customers.
Through exposure to coursework and practical exercises, graduates will emerge with knowledge of banking services, financial systems, regulatory and compliance requirements as well as valuable customer service and professional workplace skills to succeed in the financial services industry.
The diploma is mainly taught face-to-face in a classroom setting with some structured online components. The online components will require you to actively participate in a teacher led e-learning environment through the use of discussion boards, online quizzes and action learning activities.
RMIT offers a variety of learning and teaching approaches including group discussions, tutorials, workplace simulated projects, online quizzes, role plays and case studies.
RMIT’s simulated work environment (Practice Firm), called The Swanston Banking Group Ltd, is a key feature of the diploma so we can deliver coursework and current industry practices. Within the firm you will be required to undertake a range of work-related activities. You will have the opportunity to develop skills in collaboration, structuring meetings, working with client files and engaging with simulated clients in the form of role plays. You will assume the role of the financial services industry professional working in the Practice Firm as an employee with a position description. You will be expected to follow the bank’s policies and procedures.
In your roles you will be provided with a customer brief and you will be required to assess the client’s future financial status, or research and recommend services and products to meet their needs.
Ongoing assessment throughout the semester includes projects and practical assignments, oral presentations, case study analysis and workplace simulated projects that are linked to the functions of the The Practice Firm.
All assessment tasks are designed to simulate a workplace environment and require you to demonstrate that you can analyse and evaluate information from a variety of sources, and apply the skills and knowledge learned in the classroom to develop solutions, and present them, to a range of complex problems or clients.
Through RMIT University’s online learning portal, myRMIT, you will be able to view online resources and learning activities created by lecturers, access course materials via Learning Management System, collaborate with lecturers and fellow students, and access your student email account. Educational software, the Learning Hub, resources and printers are accessible on campus via the RMIT wireless network using your own laptop, tablet or smart phone or via computer facilities on-campus. You will be able to access the same software from home using myDesktop.
Find out more about student computing at RMIT.
The teachers in this program have current industry practitioners with knowledge and experience, ensuring that your skills will be relevant to current and emerging requirements of the financial services industry.
During your studies you will be required to conduct simulated client interviews to present your advice and practice your skills in client engagement. The diploma offers you opportunities to apply your learning to realistic business challenges and to develop your professional skills through simulations, role plays and collaborating in the classroom and online. You will be using techniques, technology and resources that are used in industry.
In addition to the expertise provided by the College of Business, the program has an advisory committee that includes senior executives from major financial services corporations and professional bodies. The committee provides input and feedback on the design of financial services programs at RMIT that aligns with the industry trends.
Financial services students will have the chance to meet with industry practitioners through an Industry Seminar Series and an industry afternoon where high profile speakers present on current industry topics and employability skills.
RMIT University is committed to providing you with an education that strongly links formal learning with professional or vocational practice.
You will study one core and ten elective course covering the following areas of professional and discipline expertise:
- banking services
- financial systems and markets
- professional practice and compliance
- risk management
- wealth management/financial planning
- accounting/organisational budgeting
- legal principles
- marketing and customer service
You will begin by studying courses that provide foundational knowledge and skills essential to many jobs in the financial services sector. You will then develop and apply those skills to more complex case studies and simulations to demonstrate your abilities in relation to budgets, financial services products and professional practice.
Choose a program structure
|Diploma of Financial Services||City Campus||
One year (Full Time study)
One year (Full Time
Choose a program structure
Program code: C5379
National curriculum code: FNS51815
The topics covered in the Diploma of Financial Services expose you to key areas of financial services, preparing you for a range of employment and career pathways in the financial services industry.
Typical roles for graduates include customer service in the banking industry, lending institutions and credit card companies. Careers also exist in a range of businesses that manage money including credit unions, banks, insurance and accounting firms. With experience, you can expect to progress to positions in account services, sales positions that involve providing information about investment, finance service management and risk management.
Throughout the program you will develop a portfolio to showcase the outcomes of your learning journey that includes the workplace related projects. This evidence will support you to demonstrate your practical experience to prospective employers.
Current Year 12: Successful completion of Australian Year 12 or equivalent; or the Australian Senior VCAL Certificate.
This program does not select on ATAR.
Non Year 12: Completion of post-secondary studies; or at least 6 months’ work experience.
You must have successfully completed an Australian Year 12 (or equivalent senior secondary school qualification).
Visit the Entry requirements by country page to find the equivalent to an Australian Year 12.
Equivalent qualifications may also include completion of the RMIT Foundation Studies program or a recognised post secondary diploma in the relevant discipline with the required grades.
Meeting the minimum academic requirements does not guarantee entry. Your application will still need to be assessed and accepted.
To study this program you will need to complete one of the following English proficiency tests:
- IELTS (Academic): minimum overall band of 5.5 (with no individual band below 5.0)
- TOEFL (Paper based): minimum score of 530 (TWE 3.5)
- TOEFL (Internet Based Test - IBT): minimum overall score of 71 (with minimum of 17 in all sections)
- Pearson Test of English (Academic) (PTE A)): minimum score of 42 (with no communication band less than 36)
For detailed information on English language requirements and other proficiency tests recognised by RMIT, visit English language requirements and equivalency information.
Don't meet the English language test scores? Complete an Upper Intermediate Certificate at RMIT English Worldwide.
When you successfully complete the Diploma of Financial Services you are guaranteed entry into a range of other RMIT programs. The grades you achieve determine the programs you can get into and the amount of credit you will receive.
You will receive 36 credit points in the Associate Degree in Business.
You will receive 1 semester of advanced standing (equivalent to 72 credit points) in the Bachelor of Business (Economics and Finance).
You will receive 2 semesters of advanced standing (equivalent to 96 credit points) in the following programs:
- Bachelor of Business (Accountancy)
- Bachelor of Business (Entrepreneurship)
- Bachelor of Business (Financial Planning)
- Bachelor of Business (Human Resource Management)
- Bachelor of Business (Information Systems)
- Bachelor of Business (International Business)
- Bachelor of Business (Logistics and Supply Chain Management)
- Bachelor of Business (Management)
- Bachelor of Business (Marketing)
If you achieve a minimum GPA of 2.0, you will receive 1 semester of advanced standing (equivalent to 48 credit points) in the following programs:
- Bachelor of Business (Information Systems) (Applied)
- Bachelor of Business (International Business) (Applied)
- Bachelor of Business (Financial Planning) / Bachelor of Business (Accountancy)
- Bachelor of Business (Logistics and Supply Chain Management) (Applied)
- Bachelor of Business (Marketing) (Applied)
- Bachelor of Business (Professional Accountancy)
- Bachelor of Business (Economics and Finance) (Applied)
For more detailed information on the above pathways, please refer to College of Business Vocational Education to Higher Education Advanced Standing.
You may be eligible for entry into other RMIT undergraduate programs.
The tuition fees you will pay for this program will depend on whether you are offered a Victorian Government subsidised place or a full-fee place. To find out if you are eligible for a government subsidised place, follow the steps at How to check if you are eligible.
- 2019 government subsidised place: AU$7,250* per annum
- 2019 full-fee place: AU$9,250* per annum
*Fees shown are indicative only and subject to change given individual circumstances at the time of enrolment.
Use our fee finder to get an estimate of your fees for this program.
Tuition fees are adjusted on an annual basis and these fees should only be used as a guide. Learn more about fees for vocational study.
VET Student Loans
The Australian Government provides financial assistance via the VET Student loan scheme, which allows eligible students (such as Australian citizens or holders of an Australian permanent humanitarian visa) to defer payment of up to 100% of their student contribution.
How does a HELP loan work?
If your VET Student Loans and/or SA-HELP loan application is successful, the Australian Government will pay RMIT, on your behalf, up to 100% of your fees. This amount will become part of your accumulated HELP debt.
You will only start repaying your accumulated HELP debt to the Australian Government once you earn above the minimum income threshold for repayment, which is set each year by the Australian Government (this also applies if you are still studying).
The Australian Taxation Office (ATO) will calculate your compulsory repayment for the year and include this on your income tax notice.
In addition to tuition fees, you will be charged an annual student services and amenities fee (SSAF), which is used to maintain and enhance services and amenities that improve your experience as an RMIT student.
The SSAF is calculated based on your enrolment load and the maximum fee for 2019 is $303.
For more information about calculating your actual SSAF see Paying SSAF.
You may also be required to purchase other items related to your program, including field trips, textbooks and equipment. These additional fees and expenses vary from program to program.
In addition to tuition fees you also need to pay for:
- Student services and amenities fee (SSAF) in each calendar year.
- Overseas Student Health Cover (OSHC) - Student visa holders must have cover for the total duration of their visa.
- Some programs incur additional expenses.
You also need to account for your living expenses. Estimate the cost of living in Melbourne.