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.
ELEMENT | PERFORMANCE CRITERIA |
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Complete pre-deal documentation and authorisations | 1.1 Complete onboarding checks for new clients according to regulatory requirements and organisational guidelines 1.2 Establish and confirm type of transaction client wishes to undertake 1.3 Check and confirm master agreement is in place for client and relevant transaction 1.4 Confirm client authorisation to trade in specified financial product and for relevant transaction 1.5 Discuss, clarify and resolve any issues related to product or transaction with client |
2. Execute transaction for client | 2.1 Check and verify that transaction is within client’s and own authorised trading limits 2.2 Confirm with client whether trade is to be centrally cleared 2.3 Confirm details of trade and obtain client’s acknowledgement 2.4 Capture accurate details of transaction in organisation’s systems, including risk management requirements in required timeframe 2.5 Report details of transaction to authorised trade repository as required |
3. Complete processes for confirming and settling transaction | 3.1 Forward details of transaction order to client promptly 3.2 Complete financial transaction according to organisation and industry requirements 3.3 Investigate exceptions and fails promptly if notified by investigations teams or relevant personnel |
This section specifies different work environments and conditions that may affect performance. Essential operating conditions that may be present (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) are included.
Accurate details of the transaction must be compliant with: | Australian Securities Exchange (ASX) market rules Australian Clearing House (ACH) clearing rules Australian Settlement and Transfer Corporation (ASTC) settlement rules (collectively referred to as the ASX Rules). |
Evidence of the ability to:
deal effectively with clients and accurately interpret their trading requirements in a timely manner
execute a transaction for a client that is compliant with regulatory and organisational requirements.
Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.
To complete the unit requirements safely and effectively, the individual must:
outline key financial product transaction requirements
explain key features of:
international standards that relate to operational and other related financial risk considerations in product transactions
anti-money laundering and counter-terrorism financing legislation
describe key features of:
organisational and industry transaction procedures
organisational policy and procedures
explain trading requirements and checking systems.
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the financial markets field of work and include access to:
office equipment, technology, software and consumables
relevant standards and legislation.
Assessors must satisfy NVR/AQTF assessor requirements.
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