Regulators and lending partners have a growing focus on ensuring all brokers and support staff are compliant with regulatory requirements, specifically:
- Ensuring credit representatives are adequately trained and are completing 30 hours of Continuing Professional Development a year to meet the Mortgage and Finance Association of Australia (MFAA) and Mortgage Choice requirements.
- Increasing awareness of cyber security and privacy law.
- Increasing expectations from the industry, our stakeholders and clients to ensure our members are held to a high professional and educational standard.
- Ensuring our franchisees are aware of their obligation to operate their business in a safe manner that complies with Workplace laws.
To assist with meeting the above requirements, we are introducing several online training modules that must be completed each year. These modules will be allocated to all franchise owners, loan consultants and all admin staff, based on role type.
Providing access to online training via Safetrac enables you to complete this important training in your own time, without taking time out of your business to attend additional events.
Please see below Safetrac training modules, allocated by role type:
In early 2024, the MFAA will also be introducing ongoing mandatory compliance training for its members as part of its membership renewal process. While the MFAA is not yet ready to roll out its training, we are closely consulting with the association to ensure our mandatory compliance training meets the MFAA renewal process requirements.