Assessor Resource

FNSFMK504A
Complete settlement and confirmation processes

Assessment tool

Version 1.0
Issue Date: May 2024


This unit applies to a range of job roles in the financial markets sector.

This unit describes the performance outcomes, skills and knowledge required to check dealing transaction documentation and complete confirmation and settlement processes.

This unit may apply to job roles subject to licensing, legislative, regulatory or certification requirements so Commonwealth, State or Territory requirements should be confirmed with the relevant body.

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

Employability Skills

This unit contains employability skills.



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.

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the ability to:

interpret and comply with organisational and industry settlement and confirmation procedures

utilise specialist settlement systems

comprehend master agreement instructions.

Context of and specific resources for assessment

Assessment must ensure:

competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment

access to and the use of a range of common office equipment, technology, software and consumables

access to an integrated financial software system and data

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:

evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency

verbal or written questioning on underpinning knowledge and skills

evaluating samples of work

accessing and validating third party reports.

Guidance information for 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.

Required skills

communication skills to:

determine and confirm work requirements, using questioning and active listening as required

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

well-developed numeracy and IT skills to:

check transaction calculations

access and use appropriate software such as specialist organisational trading systems, accounting software, spreadsheets and databases

access internet information

literacy skills to read and interpret organisational and industry settlement procedures

sound judgement skills for making decisions in operational situations

organisational skills, including the ability to plan and sequence work

Required knowledge

organisational and industry confirmation systems and procedures

organisational and industry settlement systems and procedures

organisational policies and procedures

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Transaction documentation may include:

dealer slips.

Clients may include:

companies and organisations

members of the public

shareholders.

Settlement exchange details may include:

counterparty detailer

deal number

exchange amounts and currencies

exchange rates

floating rate

how settlement is taking place

transaction date

value date.

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
Transaction documentation is received from dealer and promptly checked for accuracy and completion according to organisational guidelines 
Details on transaction documentation are entered into the organisation dealing system using appropriate technology 
Organisational records are reviewed to ensure that master agreements are in place before confirmation processes are conducted 
Organisational confirmation documentation is produced and forwarded to client for approval and authorisation 
Authorised confirmation documentation is received by organisation and the financial transaction completed according to confirmed settlement procedures and organisational and industry requirements 
Confirmation documentation is forwarded to client outlining settlement exchange details 

Forms

Assessment Cover Sheet

FNSFMK504A - Complete settlement and confirmation processes
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

FNSFMK504A - Complete settlement and confirmation processes

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: