Financial Dealers conduct financial market transactions on behalf of clients. Financial Dealers nec covers Financial Dealers not elsewhere classified in ANZSCO.
Occupation description
Financial Dealers conduct financial market transactions on behalf of clients. Financial Dealers nec covers Financial Dealers not elsewhere classified in ANZSCO.
Occupations considered suitable under this ANZSCO code:
- Equities Analyst
Occupations not considered suitable under this ANZSCO code:
- 222211 Financial Market Dealer
- 222212 Futures Trader
- 222213 Stockbroking Dealer
- 222112 Finance Broker
These occupations are classified elsewhere in ANZSCO or are not at the required skill level.
Financial Dealers nec is a VETASSESS Group B occupation
This occupation requires a qualification assessed as comparable to the educational level of an Australian Qualifications Framework (AQF) Bachelor degree or higher.
Applicants can fulfil the assessment criteria for this occupation in four different ways.
*If employment is prior to the completion of the qualification at the required level, an applicant must have at least one year of highly relevant employment at an appropriate skill level within the last five years. The remaining five years of pre-qualifying period may be within the last ten years.
A positive assessment of both qualification level and employment duration is required for a positive Skills Assessment outcome.
* Additional qualifications in a highly relevant field of study include those comparable to the following levels:
- AQF Diploma
- AQF Advanced Diploma
- AQF Associate Degree or
- AQF Graduate Diploma
*** Bachelor degree or higher degree includes:
- AQF Master Degree or
- AQF Doctoral Degree
** Highly relevant paid employment duration (20 hours or more per week)
1–3 minimum years of employment highly relevant to the nominated occupation, completed at an appropriate skill level in the five years before the date of application for a Skills Assessment.
4 minimum 6 years of relevant employment required – five years of relevant employment (can be outside the last 5-year period) in addition to at least one year of highly relevant employment within the last five years before applying.
Qualification and Employment Criteria
Employment
Highly relevant tasks for ANZSCO Unit Group 2222 Financial Dealers include, but are not limited to:
- Obtaining information on securities, market conditions, government regulations and financial circumstances of clients.
- Interpreting data from securities reports, financial periodicals and stock-quotation viewer screens.
- Analysing financial markets and financial market products.
- Providing information and offering advice on financial market matters, market conditions and the history and prospects of corporations.
- Executing buy and sell orders in the market place on behalf of clients.
- Relaying trade information to clients such as the number of contracts bought and sold and the price.
- Monitoring futures prices and market changes, and bidding for commodity futures contracts.
- Recording and transmitting buy and sell orders.
- Calculating and recording costs of transactions.
Tasks performed by an Equities Analyst differ from those listed under this Unit Group and may include, but are not limited to:
- Studying public records of businesses in order to predict companies’ future financial performance.
- Writing reports on company finances and describing the investment potential by assigning financial ratings, such as buy, sell, hold, etc.
Employment information
Nomination of the ‘not elsewhere classified’ (nec) code requires applicants to hold qualifications and employment that do not better fit under any other ANSZCO code.
The occupation of Financial Dealers nec is distinct from other related occupations classified in ANZSCO, such as Financial Market Dealer, Futures Trader, Stockbroking Dealer and Finance Broker.
An Equities Analyst studies and analyses companies in order to determine their overall financial worth. Analysts determine the financial value of a company by scrutinising financial reports and conducting interviews with company management and industry professionals. They are classified into buy-side and sell-side analysts.
Equities Analysts may be employed by securities firms, banks, mutual funds, hedge funds, pension funds, and insurance companies. Since analysts determine a company’s worth, their analyses can determine whether or not a company is considered an investment risk.
In addition to evaluating a company’s present financial value, Equities Analysts also consider the future worth of a company. Determinations may be made based upon financial statements, sales, costs, and tax information. Analysts may also meet with management in order to gain a better overall financial picture.
Supporting material for assessment
When applying for a Skills Assessment, please ensure you submit sufficient evidence supporting your proof of identity, qualification and employment claims. Applicants nominating this occupation are required to provide evidence in line with VETASSESS documentation requirements (see List of Required Documents).
You should provide a cover letter that justifies the rationale for choosing an ‘nec’ category.
While the VETASSESS Skills Assessment for migration purposes is distinct from an assessment for licensing or registration purposes, you are advised to provide copies of relevant licences (including from overseas), if held.
You should also provide details of any relevant training or professional development courses undertaken. These may be detailed in the Curriculum Vitae/Resume provided.
Not Elsewhere Classified (nec)
Some occupations assessed by VETASSESS are listed as ‘nec’ which means ‘not elsewhere classified’. If you are nominating one of these occupations, you must ensure that your qualifications and employment are highly relevant to one of the occupation titles given in the ANZSCO description for the particular occupation. Other specific occupation titles which cannot be found elsewhere in ANZSCO will be considered on a case-by-case basis as long as they are relevant to the ‘nec’ codes. In order to be assessed against an ‘nec’ code, your occupation would generally be described as nonclassified, yet specialised or related to its ANZSCO Unit Group description.
Your employment in these nominated occupations should not better match another ANZSCO code (whether assessed by VETASSESS or not). When considering whether to nominate an ‘nec’ occupation, you should consider the sub major group description and determine whether your skills best fit this category.
VETASSESS conducts a case-by-case assessment to determine whether the employment can be considered highly relevant to the classification. If your employment is highly relevant to another ANZSCO occupation, that period of employment cannot be assessed suitably against an ‘nec’ classification, regardless of whether the occupation is available for migration purposes or not.
You should provide a cover letter that justifies the rationale for choosing an ‘nec’ category.
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