Assessor Resource

DEFFIN010
Manage banking services

Assessment tool

Version 1.0
Issue Date: March 2024


This unit describes the skills required to maintain the bank account, manage the foreign exchange and develop fraud mitigation controls.

This unit applies to those working in the public sector Finance Domain who would be required to undertake financial management activities related to banking activities as part of their duties.

The skills and knowledge described in this unit must be applied within the legislative, regulatory and policy environment in which they are carried out. Organisational policies and procedures must be consulted and adhered to, particularly those related to financial management activities.

Those undertaking this unit would be working under minimal supervision and/or supervising small teams while undertaking financial management tasks. They would perform complex tasks in familiar context.

No licensing, legislative or certification requirements apply to this unit at the time of publication.

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)



Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

ELEMENTS

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1

Maintain bank account

1.1

Open an official bank account

1.2

Monitor cash balances

1.3

Conduct investigations of discrepancies and suspicious transactions

1.4

Monitor transaction trends

1.5

Close an official bank account

2

Manage foreign exchange

2.1

Manage Foreign Exchange (FOREX) risk

2.2

Provide advice on current FOREX rates and risks

3

Develop fraud mitigation controls

3.1

Design controls to mitigate risk of fraudulent activities

3.2

Conduct assurance reviews on financial transactions

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria on at least one occasion and include:

applying relevant legislation

complying with delegations and policies, including cash management policies

identifying risks and relevant risk control measures

managing customer relationships

negotiating with stakeholders

producing comprehensive reports

preparing accounting journals

performing reconciliations

using complex spreadsheet formulas and functions.

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria and include knowledge of:

Australian banking legislation, national and international banking systems, and international banking policies

flow of transactions, including:

receipts

payments

returns

Foreign Exchange (FOREX) implications for contracts and the purpose of the FOREX budget

nature and type of various transactions

policies and procedures governing the use of special accounts

types of risks and risk control measures relevant to banking and cash management

various system interfaces relevant to the banking finance function.

As a minimum, assessors must satisfy applicable regulatory requirements, which include requirements in the Standards for Registered Training Organisations, current at the time of assessment.

As a minimum, assessment must satisfy applicable regulatory requirements, which include requirements in the Standards for Registered Training Organisations, current at the time of assessment.

Assessment must occur in workplace operational situations where it is appropriate to do so; where this is not appropriate, assessment must occur in simulated workplace operational situations that replicate workplace conditions.

Assessment processes and techniques must be appropriate to the language, literacy and numeracy requirements of the work being performed and the needs of the candidate.

Resources for assessment must include access to:

a range of relevant exercises, case studies and/or other simulations

relevant and appropriate materials, tools, equipment and personal protective equipment (PPE) currently used in industry

applicable documentation, including workplace procedures, regulations, codes of practice and operation manuals

acceptable means of simulated assessment.


Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)


Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

ELEMENTS

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1

Maintain bank account

1.1

Open an official bank account

1.2

Monitor cash balances

1.3

Conduct investigations of discrepancies and suspicious transactions

1.4

Monitor transaction trends

1.5

Close an official bank account

2

Manage foreign exchange

2.1

Manage Foreign Exchange (FOREX) risk

2.2

Provide advice on current FOREX rates and risks

3

Develop fraud mitigation controls

3.1

Design controls to mitigate risk of fraudulent activities

3.2

Conduct assurance reviews on financial transactions

Range is restricted to essential operating conditions and any other variables essential to the work environment.

Non-essential conditions may be found in the Companion Volume Implementation Guide.

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria on at least one occasion and include:

applying relevant legislation

complying with delegations and policies, including cash management policies

identifying risks and relevant risk control measures

managing customer relationships

negotiating with stakeholders

producing comprehensive reports

preparing accounting journals

performing reconciliations

using complex spreadsheet formulas and functions.

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria and include knowledge of:

Australian banking legislation, national and international banking systems, and international banking policies

flow of transactions, including:

receipts

payments

returns

Foreign Exchange (FOREX) implications for contracts and the purpose of the FOREX budget

nature and type of various transactions

policies and procedures governing the use of special accounts

types of risks and risk control measures relevant to banking and cash management

various system interfaces relevant to the banking finance function.

As a minimum, assessors must satisfy applicable regulatory requirements, which include requirements in the Standards for Registered Training Organisations, current at the time of assessment.

As a minimum, assessment must satisfy applicable regulatory requirements, which include requirements in the Standards for Registered Training Organisations, current at the time of assessment.

Assessment must occur in workplace operational situations where it is appropriate to do so; where this is not appropriate, assessment must occur in simulated workplace operational situations that replicate workplace conditions.

Assessment processes and techniques must be appropriate to the language, literacy and numeracy requirements of the work being performed and the needs of the candidate.

Resources for assessment must include access to:

a range of relevant exercises, case studies and/or other simulations

relevant and appropriate materials, tools, equipment and personal protective equipment (PPE) currently used in industry

applicable documentation, including workplace procedures, regulations, codes of practice and operation manuals

acceptable means of simulated assessment.

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Open an official bank account 
Monitor cash balances 
Conduct investigations of discrepancies and suspicious transactions 
Monitor transaction trends 
Close an official bank account 
Manage Foreign Exchange (FOREX) risk 
Provide advice on current FOREX rates and risks 
Design controls to mitigate risk of fraudulent activities 
Conduct assurance reviews on financial transactions 

Forms

Assessment Cover Sheet

DEFFIN010 - Manage banking services
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:


Assessment Record Sheet

DEFFIN010 - Manage banking services

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: