We regularly receive requests from our clients for assistance in sourcing a Responsible Manager to support and ensure a successful Australian Credit Licence (“ACL“) application. The role of Responsible Manager is a good fit for professionals who are looking for work which may not require a full-time load, but allows them to keep in touch with the industry whilst pursuing other business interests or hobbies.
We are looking for people who have worked in Australia for:
- Credit Providers;
- Finance Brokers; and/or
- Mortgage Managers or Aggregators.
The National Consumer Credit Protection Act requires that businesses be licensed where they provide credit services for the purpose of personal, domestic or household use, or for the purchase, renovation or improvement of the value of residential property. If your experience involves working for companies that fit this criteria then we would like to hear from you.
Payment is typically a monthly fee which varies depending on the type of ACL (i.e. the extent of the authorisations required and the current demand for your experience) and is negotiated between yourself and the client who we put you in touch with. Fees generally range between $2,000 and $5,000 per month, however, this is subject to commercial negotiations with the ACL holder. We do not take a commission or require any fee from you for this referral.
To be an appropriate candidate, you must demonstrate that you:
- have been working for a company in Australia that holds an ACL which provides the same or similar services, for at least 2 years. This experience must be problem free.
- have a relevant credit qualification to at least a Certificate IV level in a relevant field, such as credit management, finance or mortgage broking. If the business provides third-party home loan credit assistance, your qualification must be at least a Certificate IV in Finance and Mortgage Broking.
- have a clean criminal record (driving infringements excluded) and no previous bankruptcies;
- be a fit and proper person to provide credit services; and
- demonstrate that you are not associated with more than one other ACL.
How to Apply
Please send a copy of your CV to email@example.com.
Your CV should include:
- your full name, contact email and phone number;
- the details of the current ACL you are working for and your day-to-day responsibilities;
- employment history, including any relevant ACL details and a description of the activities undertaken in each role;
- a full list of relevant qualifications;
- details of any other ACLs on which you are current Responsible Manager (if any).
Once received we will be in touch with you to discuss further. If you have any questions regarding Responsible Managers please contact us.
- You can read more about the role of Responsible Manager in ASIC’s Regulatory Guide 206