Required skills

welldeveloped communication skills to

determine and confirm legislative and organisational requirements

inform clients and colleagues of legislative and industry code of practice compliance requirements

liaise with others share information listen and understand

use language and concepts appropriate to cultural differences

IT skills to access internet information and manage record security

highly developed research and analysis for accessing interpreting and managing complex information such as statutory requirements

welldeveloped literacy skills to

read and interpret legislative and industry information

identify economic legislative factors which affect the organisation

produce reports and update organisational documentation and records

judgement skills for forming recommendations in complex situations

organisational skills including

implementation of an internal monitoringaudit program for staff and authority holders

the ability to plan and sequence work and work effectively in a constantly changing environment

selfmanagement skills for complying with ethical legal and procedural requirements

Required knowledge

disclosure of capacity criteria

duty of care principles

general obligations of a financial services officer

laws of principal and agents

organisations products and services

relevant agency agreements or broker authority

relevant industry codes of practice

relevant regulation pertaining to the financial services industry sector

statutory records a financial services organisation needs to maintain

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 accurately interpret and comply with relevant industry codes of practice and relevant laws and regulations

explain changes and implications of law regulations rules and circulars to clients and colleagues

accurately maintain statutory records in a timely manner

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

access to financial services legislative and industry code of practice information

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

setting and reviewing business simulations or scenarios

evaluating samples of work

accessing and validating third party reports

Guidance information for assessment

Relevant legislation, regulations and policies may include:

Organisational requirements may be outlined and reflected in:

Laws and regulations may include:

Internal monitoring/audit programs may include:

Relevant industry codes include:

Relevant records include: