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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, if used in the performance criteria, is detailed below. 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) may also be included. |
Interpersonal skills may include: | establishing knowledge level of the clientexplaining the adviser's roleexplaining the services offeredlistening actively to what the client is saying and requesting questioning to clarify and confirm the client's needsseeking feedback from the client to confirm understanding of needs. |
Clients may include: | borrowersexportersimportersinvestorstraders. |
Financial needs may include: | acquisition and disposal of financial assetscash flow management foreign currency receipts and paymentsforeign currency risk management fundinginterest rate risk managementtrading profits. |
Organisational requirements may be outlined and reflected in: | assessment and equity principles and practice guidelinesbusiness and performance plans complaints and dispute resolution proceduresethical standards, codes of practicegoals, objectives, plans, systems and processeslegal and organisational policies and guidelinesmission statements, strategic planspolicies and procedures in relation to client servicesproduct or service development quality and continuous improvement processes and standards quality assurance and procedure manuals. |
Valid and relevant information may include: | cash flows:requiredprojectedclient activities and functionsclient current and proposed operating environment, assets and systems details of clients needs and objectives for: incomesecurity liquidity time periodexisting client risk management strategiesindividual investment preferences and a version or tolerance to riskother client details such as: employment securitylikely events and their impact on the client age other products they haverelevant personal, financial and business detailstaxation obligations. |
Risk to be identified may include: | credit risk funding risklegal risk market risk operational riskreputation risk settlement riskdelivery risk. |
Assessment criteria may be based on: | prioritised G30 recommendations for managing derivatives risk AS/NZS 4360: Risk Managementqualitative factorsquantitative factorssemi-quantitative factors Supply Chain Operations Reference (SCOR). |
Vulnerability for a range of financial products may relate to: | access restrictions on productborrowing risk or gearing economic impactliquidity riskmarket and sector risks: economic cycle fixed interestrisk factors and return expectationsspecific product riskvolatility of income and capital. |
Risk management alternatives may include: | comparative analysisforecastingperiodic reporting quantification of risksreferral to decision making authorities. |
Relevant legislation may include: | applicable State and Territory legislation and regulationsAustralian Securities and Investments Commission (ASIC) Act, policy guidelinesBanking Act Commonwealth Criminal Code contract lawCorporations Act Financial Corporations Act Financial Services Reform Act (FSRA) Financial Transaction Reports Act industry codes of practicelegislation and regulations administered by Australian Prudential Regulation Authority (APRA)Privacy Amendment Act (Private Sector) Reserve Bank Act Superannuation Acts and regulationsTaxation Acts and regulationsTrade Practices Act. |
Retail client disclosure documents may include: | financial services guideproduct disclosure statement statement of advice. |
Documentation may include: | advice general correspondence legal, government and professional documentsmeeting notesrecommendations records of telephone conversationsreferences to all evidence/information consideredreports. |
Filing of information may include: | electronic manual. |