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Elements and Performance Criteria

  1. Identify potential risks to agency and clients.
  2. Analyse causes and potential impact of risks on agency, clients and other stakeholders.
  3. Implement agency procedures and systems to minimise risk.
  4. Implement agency procedures and systems to minimise consumer risk.

Required Skills

This section describes the essential skills and knowledge and their level required for this unit

Required skills

ability to communicate with and relate to a range of people from diverse social economic and cultural backgrounds and with varying physical and mental abilities

analytical skills to interpret documents such as legislation regulations sale authorities reports from professional service providers and contracts

application of risk identification assessment treatment and monitoring skills

computing skills to access agency and resource databases use standard software packages send and receive emails access the internet and web pages and complete and lodge standard documents online

decision making and problem solving skills to analyse risk situations and make decisions consistent with legislative and ethical requirements

literacy skills to access and interpret a variety of texts including legislation regulations and rules of ethics prepare general information and papers prepare formal and informal letters prepare reports and applications and complete standard and statutory forms

numeracy skills to perform and apply calculations used in risk identification assessment treatment and monitoring

planning organising and scheduling skills to undertake workrelated tasks associated with identifying assessing treating and monitoring risks

research skills to identify and locate documents and information relating to identifying and treating risks

selfmanagement skills to organise own work deliver quality customer service and effectively manage competing demands

teamwork skills to work effectively in and promote communication between sales property management and administrative teams in an agency environment

Required knowledge and understanding

agency policies and procedures including

policies and procedures for risk management

risk management strategies

approaches for monitoring the risk environment

auditing requirements

Australian and New Zealand risk management standards

causes of risks

classification of risks

complainthandling procedures

consumer risk

impact of risks on agency clients and other stakeholders

insurance policies codes and operations

potential impact of risk

reasons for monitoring risk environment

relevant federal and state or territory legislation and local government regulations relating to

antidiscrimination and equal employment opportunity

antimoney laundering

auctions

consumer protection fair trading and trade practices

employment and industrial relations

environment and sustainability

financial services

leasing

OHS

privacy

property sales and management

sources of information on risk

sources of risk

techniques and tools for identifying and analysing risk

Evidence Required

The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria required skills and knowledge the range statement and the Assessment Guidelines for this Training Package

Overview of assessment

This unit of competency could be assessed through case studies and practical demonstration of identifying assessing treating and monitoring risks to the agency and consumers Targeted written including alternative formats where necessary or verbal questioning to assess the candidates underpinning knowledge would provide additional supporting evidence of competence The demonstration and questioning would include collecting evidence of the candidates knowledge and application of ethical standards and relevant federal and state or territory legislation and regulations This assessment may be carried out in a simulated or workplace environment

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

A person who demonstrates competency in this unit must be able to provide evidence of

analysing the causes and potential impact of risks on agency clients and other stakeholders

establishing ongoing monitoring and reporting systems to minimise risks to agency clients and other stakeholders

identifying and implementing agency policies and procedures for minimising and treating risks

identifying actual and potential risks to agency clients and other stakeholders

identifying minimising and responding to consumer risks associated with agency operations

Context of and specific resources for assessment

Resource implications for assessment include

access to suitable simulated or real opportunities and resources to demonstrate competence

assessment instruments that may include personal planner and assessment record book

access to a registered provider of assessment services

Where applicable physical resources should include equipment modified for people with disabilities

Access must be provided to appropriate learning andor assessment support when required

Assessment processes and techniques must be culturally appropriate and appropriate to the language and literacy capacity of the candidate and the work being performed

Validity and sufficiency of evidence require that

competency will need to be demonstrated over a period of time reflecting the scope of the role and the practical requirements of the workplace

where the assessment is part of a structured learning experience the evidence collected must relate to a number of performances assessed at different points in time and separated by further learning and practice with a decision of competence only taken at the point when the assessor has complete confidence in the persons competence

all assessment that is part of a structured learning experience must include a combination of direct indirect and supplementary evidence

where assessment is for the purpose of recognition RCCRPL the evidence provided will need to be current and show that it represents competency demonstrated over a period of time

assessment can be through simulated projectbased activity and must include evidence relating to each of the elements in this unit

In all cases where practical assessment is used it will be combined with targeted questioning to assess the underpinning knowledge Questioning will be undertaken in such a manner as is appropriate to the language and literacy levels of the candidate and any cultural issues that may affect responses to the questions and will reflect the requirements of the competency and the work being performed


Range Statement

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 in the performance criteria is detailed below. Add any 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.

Sources of information may include:

agency records

experience

industry practice and experience

legislation

market research

published literature

specialist or expert advice from:

government agencies

professional and industry associations.

Tools for identification may include:

documentation to assist in the process of identifying risks and assessing impact and likelihood of occurrence

standard instruments developed for the agency and contextualised for sections of the workplace's operations, such as checklists and testing procedures

tools to prioritise risks, including where relevant, numerical scoring systems for risks.

Actual and potential risks may relate to:

administrative and business systems, policies and practices

commercial and legal relationships between the agency, consumers and other organisations, such as buyers, sellers, employees, landlords, tenants, subcontractors, developers and suppliers

consumer risk

economic and financial circumstances

individual actions, such as discrimination and ineffective communication

management activities and controls

natural events

non-compliance with legislative and regulatory requirements, such as:

consumer protection

OHS

trade practices

non-compliance with quality systems, such as:

enterprise

franchise

International Standards Organisation (ISO)

OHS

physical and personal security

political circumstances, such as legislative change

property ownership, including intellectual property

technological and technical issues, both internal and external to the agency, such as loss of data.

Agency, clients and other stakeholders may include:

consumers and clients

co-owners

financial institutions with an interest in the agency

principal

staff and others to whom a duty of care is owed.

Agency representations and information provided by clients may refer to:

anticipated income and expenditure

bankruptcy

business status and ownership

compliance with legislative and regulatory requirements

condition of property

covenants

customer base

easements

family law matters

financial records

insolvency

leases or tenancy agreements

legal action

licences

permits

property status and ownership

quotas

stock

value of property.

Causes of risks may include:

commercial and legal relationships

economic circumstances

human behaviour

inaccurate information provided by clients

individual activities

management activities and controls

natural events

political circumstances

technological issues.

Potential impact of risks may adversely affect:

capital reserves

cash flow viability and resulting liquidity

goodwill value

nett worth of the business

return on investment.

Consequences, likelihood and severity of risks may refer to:

consequences - extreme, very high, medium, low and negligible

likelihood - almost certain, likely, moderate, unlikely and rare

severity - severe, high, major, significant, moderate and trivial.

Risk categorisation may refer to:

administration - misrepresentation, personal injury and misappropriation

commercial sales and leasing - miscalculating rentable floor space and exclusivity of business (retail)

property management - maintenance, consumer protection and discrimination

property sales - incorrect disposal of chattels, code of ethics and conduct, loss of documents, trade practices, consumer protection, unauthorised disclosure, and sale of goods under warrant of execution.

Risk priorities may refer to:

assessing consequences and likelihood

assigning a value to identified risks using available tools.

Options for minimising risks may include:

avoid the risk - deciding not to become involved in a risk situation

finance the risk - funding risk treatment and the financial consequences of risk

reduce the risk - applying appropriate techniques and management principles to reduce the likelihood of an occurrence and its consequences

retain the risk - intentionally or unintentionally retaining responsibility for loss or financial burden of loss

transfer the risk - shifting responsibility or burden of loss to another party through contract, insurance or other means.

Procedures and systems for controlling risks may include:

documentation

procedures, including:

assessment

confidentiality, security and privacy procedures

control measures

identification

monitoring

organisational procedures

treatment

systems, including:

company operations manual

induction and training.

Risks to consumers may relate to:

advertising and marketing

moneys held in trust

property management

property sale

provision of information and advice

tenancy agreements.