Required skills

welldeveloped communication skills to

discuss transaction information with others confirming relevant details

disseminate information on transaction errors and potential fraud

liaise with team members and peers share information listen and understand

use language and concepts appropriate to cultural differences

welldeveloped numeracy and IT skills to

analyse complex financial data

use spreadsheets and databases

use internet information

research and analysis skills for

accessing interpreting and managing complex information and evaluating and disseminating information

identifying gaps in information and gathering necessary information from alternative sources

literacy skills to

read and interpret financial transaction information

produce reports

highly developed judgement skills for forming recommendations on error and fraud in complex and sensitive situations

organisational skills including the ability to

plan and sequence own work

work effectively in a constantly changing environment

selfmanagement skills for complying with ethical legal and organisational requirements

Required knowledge

data analysis techniques and tools

data sampling and auditing techniques

financial fraud types and characteristics

financial information sources

organisational policies and procedures

relationship between ethics and regulatory requirements

relevant financial industry legislative and compliance requirements

risks and implications associated with financial transactions

types of financial market products and services

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

conduct analysis of financial data in order to identify errors fraud

interpret and comply with legislative and organisational requirements

test and assess the integrity of financial information for risk

provide recommendation for action to resolve transactional errors and fraudulent activity

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 transaction data

access to financial industry legislation and industry codes of conduct

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

Financial transaction data may be:

Legal requirements may include:

Organisational policies and procedures may include:

Conclusions on possible fraudulent transactions may be:

Relevant personnel may include:

Minor transaction errors may include:

Major transaction data errors or fraud may include:

Appropriate action may include: