CONTINUING PROFESSIONAL DEVELOPMENT (CPD)
As a broker, it's essential to engage in Continuing Professional Development (CPD) to ensure that you remain well-informed and competent in your field. CPD activities can help you stay current with industry trends, new products, policies, and best practices.
By actively participating in CPD, you demonstrate your commitment to professionalism and excellence in the mortgage brokering industry. This not only helps you stay competitive but also ensures that you can provide the best possible service to your clients.
Here are some key points about CPD for brokers:
1. Purpose: The primary goal of CPD is to maintain and enhance your professional knowledge and skills. This is crucial in an ever-evolving industry like mortgage brokering, where new regulations, products, and technologies frequently emerge.
2. Types of CPD Activities: CPD can include a variety of activities such as attending workshops, seminars, and conferences, completing online courses, participating in webinars, reading industry publications, and engaging in professional networking.
3. Requirements: Different regulatory bodies and professional associations may have specific CPD requirements, such as a minimum number of hours to be completed annually. It's important to be aware of and comply with these requirements to maintain your professional standing.
4. Tracking and Reporting: Brokers are often required to keep records of their CPD activities, including details of the activities completed and the hours accrued. This documentation may need to be submitted to your regulatory body or professional association as proof of compliance.
5. Benefits: Engaging in CPD can enhance your knowledge and skills, making you more effective in your role. It can also boost your credibility and reputation within the industry, potentially leading to more business opportunities and career advancement.
6. Personalized Learning: CPD allows you to tailor your learning to your specific interests and career goals. You can focus on areas that are particularly relevant to your practice, whether that's new mortgage products, regulatory changes, or advanced sales techniques.
Earning CPD Hours
Required min annual CPD hours based on your membership.
25 hours required – based on the anniversary date of your membership
30 hours required – based on the anniversary date of your membership
How can brokers Stay up to date with latest finance industry trends, products & developments, including business best practices?
Oxcel Education & Events
Oxcel will issue CPD codes and hours for each educational event that we hold. These are provided to attendees at the time of the event or via your Oxcel BDMs.
• Quarterly Professional Development (PD) Days – occurring every March, June, September and December. PD Days connects Brokers and Lender BDMs through in-person conferences
• Coffee Workshops + Lender Blenders – organised by your Oxcel BDMs. Connect, network and learn with Lender BDM, Business Partners and Oxcel Brokers
• National Masterclasses – online Lender sessions organised nationally by Oxcel. Take the opportunity to upskill and learn about the niches with the different Lenders/Partners held on the Oxcel Lender Panel
• Commercial Conference – an in person commercial conference at a selected destination, filled with insightful presenters, usually held in May.
• National Summits – an in-person summit event at a selected destination, usually held over 3 days in Sept/Oct, filled with insightful presenters
• Regular Live Infynity Sessions – covering the most relevant topics within Infynity. Ideal for new to industry or new to Oxcel brokers, as well as a good refresher for any existing brokers. Schedules are posted in the news section of the Infynity home page and/or sent by your Oxcel BDM
**Please reach out to your dedicated Oxcel BDM if you are not receiving these Oxcel invitations **
All our CPD codes that we issue for any Oxcel event/learnings, are approved and issued by FBAA. These approved codes are valid for both FBAA and MFAA members. As an MFAA member be sure to enter in the approved code as an external event within the MFAA CPD register, NOT within the MFAA approved field,
as shown below.
Recommended Publications
The mortgage finance industry in Australia is a vital sector with numerous publications and resources that provide insights, news, and data. Here are some notable publications and resources for professionals and stakeholders in the Australian mortgage finance industry:
Industry Publications:
1. Mortgage Professional Australia (MPA):
o A leading publication providing news, analysis, and insights for mortgage professionals in Australia.
o Covers topics such as lending trends, broker news, and industry awards.
o Available in print and online formats.
2. Australian Broker
o A comprehensive resource for mortgage brokers, offering news, industry updates, and in-depth features.
o Covers regulatory changes, market trends, and profiles of leading brokers and companies.
o Available in both print and online editions.
3. The Adviser
o A key publication for mortgage and finance brokers, providing news, analysis, and professional development resources.
o Features include market insights, regulatory updates, and broker-specific advice.
o Offers both digital content and a print magazine.
4. brokerdaily
o Is a targeted publication dedicated to mortgage distribution in Australia. This resource is focused exclusively on the issues that affect and influence Australia’s mortgage industry across the supply and distribution chain.
o Broker Daily delivers breaking news to professionals working in the mortgage distribution sector and provides leading interpretation of key market trends and analysis relating to Australian mortgage origination.
5. Your Investment Property Magazine:
o Focuses on property investment, offering insights into mortgage finance, market trends, and investment strategies.
o Provides valuable information for both investors and finance professionals.
o Available in print and online formats.
6. Smart Property Investment:
o A publication dedicated to property investment, including mortgage finance and market analysis.
o Features news, expert advice, and case studies relevant to property investors and mortgage professionals.
o Available online with a variety of articles, podcasts, and videos.
Government and Regulatory Publications:
1. Australian Prudential Regulation Authority (APRA):
o Publishes reports, data, and policy updates related to the regulation of financial institutions, including those involved in mortgage finance.
o Key publications include the "Quarterly Property Exposure Statistics" and the "ADI Monthly Banking Statistics".
2. Australian Securities and Investments Commission (ASIC):
o Provides resources and publications on consumer protection regulations, including those affecting the mortgage industry.
o Notable reports include the "ASIC Annual Report" and various regulatory guides.
3. Reserve Bank of Australia (RBA):
o Offers publications and data on monetary policy, financial stability, and economic conditions affecting the mortgage market.
o Key reports include the "Financial Stability Review" and the "Statement on Monetary Policy".
4. Australian Bureau of Statistics (ABS):
o Provides comprehensive data and reports on housing finance, property prices, and economic conditions.
o Notable publications include the "Housing Finance" monthly data release and the "Residential Property Price Indexes".
Keeping Records of your CPD
You need to keep records of your CPD hours and declare the details with your annual membership renewals to Oxcel.
1. You can record/maintain your CPD hours on either the FBAA or MFAA portals as members and provide a copy of your completed CPD hours to Oxcel.
2. You can record/maintain your CPD hours in Infynity (example of entry shown below).
Disclaimer: This information is current, as at the time of each QRG publication. It is a general information guide only.