Client Case Studies
Australian Financial Markets Association
The AFMA ePortfolio project team
Given that sending assessors out to banks to observe students as they perform their jobs is logistically impossible, it was clear that a portfolio of evidence was the only suitable assessment methodology. We chose to use digital portfolios primarily because they were flexible, could incorporate a range of evidence, would be easy to access and use, and suited the media preferences of our Gen Y students.
AFMA’s approach to evidenced-based skills assessment.
The Australian Financial Markets Association (AFMA) is a membership association of banks operating in the Australian financial markets sector. As part of our mission to build professionalism in our industry, AFMA runs an accreditation program for individuals who deal financial products in wholesale markets and for those who advise clients on financial products.
The Diploma of Financial Services is a Vocational Education and Training (VET) sector qualification made up of 12 competencies, which outline the knowledge and skill requirements for dealing and advising in financial markets. Because the qualification focuses on teaching practical workplace-based skills, the assessment is based on students performing authentic tasks in the workplace. This means that participants undertaking it must be assessed on both their knowledge of the core concepts discussed in each learning module they complete, and their skills (i.e. their ability to put this knowledge into practice). It is the difference between assessing what they know and what they can actually do.
Using eportfolios for work integrated learning.
Our primary goal in using eportfolios was to develop a valid and authentic skills assessment instrument that was flexible, easy for students to use and which would encourage students to link what they learn in the diploma with what they do in the workplace.
Given that sending assessors out to banks to observe students as they perform their jobs is logistically impossible, it was clear that a portfolio of evidence was the only suitable assessment methodology. We chose to use digital portfolios primarily because they were flexible, could incorporate a range of evidence, would be easy to access and use, and suited the media preferences of our Gen Y students. Chalk & Wire had the additional benefit of being an assessment focused eportfolio incorporating a validation and marking process. An important feature was that we could use the C&W eportfolio straight out of the box, with no customisation. We did not want to buy into the additional costs and all the problems that can arise with customisation.
Our three-step approach to assessing students.
We have a three-pronged approach to assessment in the accreditation program:
- Online multiple-choice exam: Consists of 50–70 questions which test knowledge for each completed module. Achieving a result of competence in the exam means they must achieve a mark of 80% or higher.
- Evidence-based skills assessment: Each competency area contains information on what the student needs to do and what type of evidence might be suitable. As students upload each piece of evidence, they need to explain how/why they think it demonstrates that they are able to execute each task.
- Organisational portfolio for the industry core competencies: Submitted as a single portfolio by the member organisation, rather than each individual student. Evidence needs to be provided on the types of training taking place in each of the four core competencies.
External authentication of eportfolio evidence.
AFMA requires that student eportfolios are authenticated by a senior person within the member oganisation. This step is necessary to make sure that all evidence provided through the eportfolio process is authentic. When a student submits their eportfolio for authentication, the nominated authenticator is alerted by email. Once the eportfolio is authenticated, the student receives an email notifying them of the result.
Prepping for the launch of the eportfolio system.
Because our accreditation program has 12 different pathways, a significant amount of time and work was needed to create all of the associated portfolio structures and assessment instruments. When creating and writing content for these materials it was important to keep things as simple as possible as to not confuse the students. In addition to loading the content on the system we knew that we would need to also provide user guides for students, assessors and those within the different banks who were responsible for co-ordinating staff training and authenticating the eportfolios. To demonstrate to students both the range of evidence that can be posted and what a completed portfolio actually looks like, we built a sample portfolio and posted it on the web.
Conducting information sessions for stakeholders.
As the eportfolio represented a huge change in assessment strategy, it was necessary to make sure that all of our stakeholders — Learning and Development (L&D) Managers, students, and compliance mangers —were aware of the change and had a basic understanding of how the portfolio worked. The marketing department organised a series of breakfast briefings across Australia to introduce the portfolio and also set up trial access to the portfolio for the L&D Mangers so that they could familiarise themselves with it before the formal launch.
Working with Chalk & Wire staff.
While there were hiccups during our launch and adjustments had to be made with how we setup some parts of our system, Chalk & Wire was quick to respond on demand if any issues did arise. Currently we are working with them to improve any usability issues should they arise.
