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Elements and Performance Criteria

1. Assess current state of organisational values and culture
   • Source and interpret information related to organisation’s values and culture
   • Analyse the implications of the licence obligation to provide financial services ‘efficiently, honestly and fairly’ for the organisation’s operations.
   • Identify threats to organisational purpose, vision and mission and develop strategies to act on them.
   • Identify policies and procedures that do not align to organisational values and culture
2. Embed compliance into organisation’s culture and processes
   • Interpret organisational values in terms of the company’s vision statement and mission
   • Articulate an organisational purpose that is meaningful for staff of organisation or business unit
   • Ensure common understanding by discussing organisational purpose and values with staff
3. Influence the development of policies and procedures that support organisational values and culture
   • Influence the development of policies and procedures to align with organisational purpose, vision, mission and organisational values and in accordance with organisational procedures
   • Influence the development of policies and procedures that allow individuals to safely report potential breaches of organisational values and procedures
   • Review and revise policy and procedures in consultation with key stakeholders
4. Implement and promote the developed policies and procedures
   • Identify and assess accountability structures in the organisation to determine alignment with organisational purpose and values
   • Establish strategies to monitor and evaluate performance for alignment with organisational values
   • Communicate policies, procedures, conduct expectations, requirements and guidance to staff according to strategy
5. Promote a shared understanding of organisational values and culture
   • Assess conduct risks in business unit or organisation and develop conduct guidance for staff
   • Establish metrics to identify weaknesses and threats to organisational values and culture
   • Identify weaknesses and threats to organisational culture by monitoring established metrics
   • Develop remedial strategies and training to address conduct risks, identified weaknesses and threats

Performance Evidence

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

develop and implement policies and procedures that support organisational values and culture for at least one vulnerable area in an organisation or business unit’s current practices.

In the course of the above, the candidate must:

assess conduct risks in business unit or organisation

establish process for reporting suspected breaches of organisational values and culture.

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Knowledge Evidence

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

key requirements of licence obligations

key features of policies and procedures, including:

expectations of conduct within organisation and with external stakeholders

strategies for implementing policies and procedures to reinforce organisational values and culture

strategies for application to complex ethical problems

reporting methods for suspected breaches and unethical conduct

information sources of organisational values and culture, including:

organisation’s vision and mission statements

financial services industry code of conduct

organisational code of conduct and protocols

communication methods for promoting policies and procedures relating to organisational values and culture

leadership styles and their application in supporting the organisation’s mission, objectives and values.

industry standard tools and techniques used for establishing metrics for implementation of policies and procedures and recording and storing data

strategies and protocols that can be used to identify and address actions that are not aligned with organisational values.

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