Commodities Trader Career and Immigration options for Australia

Profile Title: Commodities Trader Career and Immigration options for Australia

Alternative Title:Commodities Broker

ANZSCO Code: 222111 | Unit Code: 2221

Skill Level: Level 2 | Work Experience: 1 Years

Assessing Bodies: Vocational Education and Training Assessment Services (VETASSESS)

Skill Occupation List (SOL): STSOL

Specialization: Energy Trader, Grain Buyer, Livestock Trader, Media Buyer, Wool Broker

Profile Description: Operates as an independent agent to bring together buyers and sellers of commodities, negotiates private sales and arranges sales through established market places.

Job Duties:

• monitoring commodity prices, trends and other factors affecting the supply and demand for commodities
• negotiating the purchase and sale of commodities such as grains, wool, minerals and metals
• determining the specific financial and insurance requirements of clients, and researching and reviewing available finance and insurance products for suitability to meet clients requirements
• analysing clients financial status, discussing financial options and developing financial strategies
• recommending loan combinations that meet clients needs
• interviewing prospective clients to explain insurance policy conditions, risks covered, premium rates and benefits, and to make recommendations on the amount and type of cover
• arranging insurance, home loan mortgages and other types of finance for clients through banks, lenders,financiers and insurance companies
• preparing documents which set out the conditions of finance, repayments and loan periods
• identifying and advising on significant risk changes to clients insurance
• broking complex and commercial leases, equipment finance, commercial finance, project finance and finance for property developers

Skill Level Description: Most occupations in this unit group have a level of skill commensurate with the qualifications and experience outlined below. In Australia: AQF Associate Degree, Advanced Diploma or Diploma (ANZSCO Skill Level 2) In New Zealand: NZ Register Diploma (ANZSCO Skill Level 2) At least three years of relevant experience may substitute for the formal qualifications listed above. In some instances relevant experience and/or on-the-job training may be required in addition to the formal qualification. Registration or licensing may be required.

Available Visa Options (As on February 2024):

• 190 - Skilled Nominated (subclass 190)
• 407 - Training visa (subclass 407)
• 489 - Skilled Regional (Provisional) visa (subclass 489) - State or Territory nominated
• 482 - Temporary Skill Shortage visa (subclass 482) - Short Term Stream
• 187 - Regional Sponsor Migration Scheme (subclass 187)
• 494 - Skilled Employer Sponsored Regional (provisional) (subclass 494) - Employer sponsored stream
• 491 - Skilled Work Regional (provisional) visa (subclass 491) State or Territory nominated

Registration or Licensing: may be required

Industries: Financial Brokers are mainly employed in: Financial and Insurance Services; Wholesale Trade; and Rental, Hiring and Real Estate Services

Education Profile: The most common level of educational attainment for Financial Brokers is Advanced Diploma/Diploma (40.2 per cent).

Job Opening: Over the five years to November 2019, the number of job openings for Financial Brokers is expected to be average (between 10,001 and 25,000). Job openings count both employment growth and turnover (defined as workers leaving their occupation for other employment or leaving the workforce).

Age Group: The main age group is 25-34 years (33.2 per cent) and the median age is 39 years (compared to 40 years for all occupations).

Gender: The female share of Financial Brokers is 26.3 per cent and 90.1 per cent of Financial Brokers work full time. Average weekly hours for full time workers are 42.8 (compared to 40.2 for all occupations).

Earning: In August 2014 (latest available data) weekly earnings full-time before tax (and not including employer superannuation) were $1,552 (compared to earnings for all occupations of $1,200).

Employment: Employment for this occupation rose strongly (in percentage terms) in the past five years and rose slightly in the long-term (ten years). Looking forward, employment for Financial Brokers to November 2020 is expected to grow very strongly.