Assessor Resource

FNSSUP517
Review performance of superannuation funds against regulatory and contractual requirements

Assessment tool

Version 1.0
Issue Date: May 2024


This unit describes the skills and knowledge required to identify performance requirements, develop and implement systems and procedures, monitor and report compliance performance, and advise on required changes to regulatory and contractual compliance requirements. It involves developing and implementing systems and procedures, monitoring and reporting performance, and advising on changes relating to performance of the fund against regulatory and contractual compliance requirements.

The unit applies to those responsible for ensuring quality practices and industry requirements are effectively implemented, maintained and improved.

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.

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:

review compliance of a superannuation fund with regulatory and contractual requirements on at least one occasion.

In the course of the above, the candidate must:

identify performance requirements, and implement systems and procedures to meet those requirements

report and advise on required changes.

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:

regulatory and contractual requirements of superannuation industry supervision (SIS) legislation

organisational policies and procedures relating to reviewing compliance requirements of superannuation fund

taxation obligations relevant to regulatory and contractual requirements

organisational performance, products and procedures relating to compliance with regulatory and contractual requirements

principles of contingency management

customer analysis and service focus within the industry or organisation

types of performance reviews

superannuation systems and procedures relating to regulatory and contractual requirements.

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:

organisational equipment, technology, software and consumables

current legislation that impacts on the superannuation industry

regulatory and contractual performance requirements

organisational policies and procedures.

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:

review compliance of a superannuation fund with regulatory and contractual requirements on at least one occasion.

In the course of the above, the candidate must:

identify performance requirements, and implement systems and procedures to meet those requirements

report and advise on required changes.

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:

regulatory and contractual requirements of superannuation industry supervision (SIS) legislation

organisational policies and procedures relating to reviewing compliance requirements of superannuation fund

taxation obligations relevant to regulatory and contractual requirements

organisational performance, products and procedures relating to compliance with regulatory and contractual requirements

principles of contingency management

customer analysis and service focus within the industry or organisation

types of performance reviews

superannuation systems and procedures relating to regulatory and contractual requirements.

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:

organisational equipment, technology, software and consumables

current legislation that impacts on the superannuation industry

regulatory and contractual performance requirements

organisational policies and procedures.

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
Identify performance requirements according to operating guidelines and legislative requirements 
Document performance requirements 
Prepare action plans to meet requirements 
Implement applicable operational guidelines and organisational policies and procedures 
Develop and document contingency plans to ensure requirements are met in extraordinary situations according to organisational policies and procedures 
Review regulatory and contractual performance requirements against superannuation fund and confirm compliance with organisational policies and procedures 
Update procedures, guidelines and policies in response to changed regulatory, legislative, organisational policy changes and performance variation 
Document performance reviews 
Identify anomalies and variations and document according to organisational policies and procedures 
Report anomalies and variations to required stakeholders within required timeframes 
Support advice and recommendations for change with action plans 

Forms

Assessment Cover Sheet

FNSSUP517 - Review performance of superannuation funds against regulatory and contractual requirements
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

FNSSUP517 - Review performance of superannuation funds against regulatory and contractual requirements

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: