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

research skills such as

accessing and managing information

interpreting documentation

coordinating tasks

IT skills for accessing and using appropriate software such as spreadsheets and databases and using internet information

literacy skills to read and interpret documentation from a variety of relevant legislative and regulatory sources and recording gathering and consolidating financial information

selfmanagement skills for complying with ethical legal and procedural requirements

learning skills to maintain knowledge of changes to compliance legislation and requirements

problem solving skills to address compliance issues

Required knowledge

accounting policies and procedures for compliance

industry codes of practice

legal systems and procedures applying to the financial services industry

organisational policy and procedures

relevant acts and regulations

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

access information on relevant courts and regulatory bodies

develop organisational procedures to meet compliance requirements

interpret and apply relevant legislation in operational activities

identify the main roles and responsibilities of key bodies in the legal system

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

internet access

relevant legislative and regulatory documentation

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 which may include formal examinations

setting and reviewing workplace projects and business simulationsscenarios

evaluating samples of work

accessing and validating third party reports

Guidance information for assessment

Courts and other regulatory bodies may include:

Relevant legislation may include:

Sources of information may include:

Procedures may include:

Compliance requirements may include: