Assessor Resource

FNSFMK516
Review and confirm human resources and IT systems satisfy requirements of licence

Assessment tool

Version 1.0
Issue Date: May 2024


This unit describes the skills and knowledge required by a responsible manager for an Australian Financial Services (AFS) licensee to assist with confirming human resources and information systems meet business needs as well as licence compliance requirements. This involves assessing licence requirements, assessing adequacy of staffing levels and information technology (IT) systems and implementing necessary adjustments.

It applies to individuals who carry out work as a responsible manager for an AFS licensee.

Work functions in the occupational areas where this unit is used may be subject to regulatory requirements. Refer to the relevant regulator for specific guidance on requirements.

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.

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

Conduct an assessment of the human resources and IT systems of one organisation or business unit for compliance with licence requirements.

In the course of the above, the candidate must:

obtain relevant metrics to assess compliance with requirements of licence

identify adjustments in human resources and IT systems required to comply with requirements of licence.

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

organisational licence conditions and regulatory requirements including regulator guidance

legislative and regulatory requirements specific to IT policy and practice including:

cyber resilience

systems disaster recovery

security, storage and communication of different types of data and information

privacy legislation

organisational metrics for monitoring performance and IT systems

developments in cyber security and data requirements

business continuity and disaster recovery procedures

key types of potential breaches of regulatory requirements and licence obligations pertaining to IT systems, including

breaches of the privacy legislation

security vulnerabilities

potential cyber risks

network access control breaches

internal procedures for escalation of potential breaches

responsibilities of staff for monitoring compliance of IT systems with regulatory requirements including:

cyber security

communication of data and information.

human resource responsibilities including strategies to monitor staff training needs and staff performance.

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

legislation, regulations, standards and codes required to determine licence requirements

office equipment, technology, software and consumables required to produce the performance evidence

operating organisational software systems and data required to produce the performance evidence.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.

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.

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

Conduct an assessment of the human resources and IT systems of one organisation or business unit for compliance with licence requirements.

In the course of the above, the candidate must:

obtain relevant metrics to assess compliance with requirements of licence

identify adjustments in human resources and IT systems required to comply with requirements of licence.

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

organisational licence conditions and regulatory requirements including regulator guidance

legislative and regulatory requirements specific to IT policy and practice including:

cyber resilience

systems disaster recovery

security, storage and communication of different types of data and information

privacy legislation

organisational metrics for monitoring performance and IT systems

developments in cyber security and data requirements

business continuity and disaster recovery procedures

key types of potential breaches of regulatory requirements and licence obligations pertaining to IT systems, including

breaches of the privacy legislation

security vulnerabilities

potential cyber risks

network access control breaches

internal procedures for escalation of potential breaches

responsibilities of staff for monitoring compliance of IT systems with regulatory requirements including:

cyber security

communication of data and information.

human resource responsibilities including strategies to monitor staff training needs and staff performance.

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

legislation, regulations, standards and codes required to determine licence requirements

office equipment, technology, software and consumables required to produce the performance evidence

operating organisational software systems and data required to produce the performance evidence.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.
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
Analyse relevant regulatory requirements, regulator guidance, and organisational licence conditions and obligations 
Identify compliance requirements for provision of financial services by the organisation 
Analyse the alignment of the business unit or organisation with licence requirements 
Review and analyse staffing levels of organisation or business unit against licence requirements 
Identify and review skills and knowledge required by staff to adhere to licence requirements 
Monitor staff performance metrics to identify areas where skills and knowledge of staff indicate concerns or potential breaches 
Escalate concerns or potential breaches where staff knowledge and skills create a compliance risk for the organisation 
Review and analyse IT system metrics of organisation or business unit against licence requirements 
Monitor and analyse developments in cyber security and data privacy requirements 
Escalate concerns or potential breaches where IT systems create a compliance risk for the organisation 
Communicate to staff their responsibilities for ensuring that there are no breaches of regulatory requirements for protecting data in IT systems 
Identify and assess implications of changes in business strategies of the organisation and priorities for the licence 
Assess implications of changes to licence obligations for business unit or staffing and IT systems of the organisation 
Monitor and evaluate alignment of staffing and IT systems of the organisation with licence requirements according to organisational timelines 

Forms

Assessment Cover Sheet

FNSFMK516 - Review and confirm human resources and IT systems satisfy requirements of licence
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

FNSFMK516 - Review and confirm human resources and IT systems satisfy requirements of licence

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: