Compliance update - How to meet your NCCP Education and Learning obligations
Satisfying your compliance obligations in line with the NCCP Act 2009 involves:
- providing credit guides
- credit proposal documents
- disclosure documents
- The list goes on.
With the above activities taking highest priority in your business processes it can be easy to overlook the need to keep your industry learning / professional development up to date.
Within the ASIC Regulatory Guide 206, it states that all responsible managers and representatives who provide credit assistance need to undertake at least 20 hours of Continuing Professional Development (CPD) per year. Now this is where it can get confusing because there are a few different requirements based on the various industry bodies. For example, ASIC state you need to complete at least 20 hours of CPD per annum, FBAA require you to complete 25 hours and lastly the MFAA require you to complete 30 hours of CPD per annum. Therefore, depending on your current membership, you need to gauge which ones actually determine the number of CPD required for you.
How do you obtain CPD hours?
As a member of Connective there are many different industry learning and events that are provided to you such as;
- Quarterly professional development days – 3 points
- Monthly networking breakfasts – 1 point
- Connective Academy (6 per year) – 2 points
- Lender Expo’s – 3 points
- Connective Conference – 8.5 points
We make tracking these hours easy. All events that you attend via Connective are automatically collated and recorded within Mercury where you can print off your statement for membership renewal with ease.
At the end of the day please don’t forget that there is more to NCCP than just issuing certain documents and ensuring ‘responsible lending’ you need to keep your education up to date also.
As always should you have any question please feel free to contact the compliance team on firstname.lastname@example.org