Required skills

welldeveloped communication skills to

determine and confirm regulatory and quality requirements with staff using questioning and active listening as required

lead and coach staff

liaise with others share information listen and understand

use language and concepts appropriate to cultural differences

welldeveloped interpersonal skills to establish effectives relationships with peers and staff and undertake or manage coaching activities

welldeveloped human resource management and leadership skills

problem solving skills to identify any issues that have the potential to impact on the quality of services and develop options to resolve these issues when they arise

literacy skills for

developing workplace procedures

analysing information and products to maintain currency and accuracy

producing written reports and team guidance material

numeracy skills to accurately analyse record and store data in accordance with organisational requirements

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

planning organisational and time management skills to sequence tasks meet timelines and arrange meetings

quality control and continuous improvement skills

Required knowledge

features of main industry roles of financial representatives

fraud deterrence practices

function of government bodies and representatives involved in regulating financial products and services

industry code of practice requirements

main features benefits and practices of different types of financial products

organisation policies procedures objectives and guidelines

Privacy Act obligations

professional development activities available

relevant acts and regulations and compliance requirements for the financial services industry

supervisory responsibilities in ensuring compliance within relevant financial services area

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

interpret and comply with government regulatory requirements and codes of conduct for industry organisations

maintain continual professional development

monitor work practices to ensure compliance with relevant legislation and assess the effectiveness of workplace procedures

implement effective organisational quality assurance procedures

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 organisational policies and procedures 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

observing processes and procedures in workplaces or role plays

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

Industry organisations includes, but is not limited to:

Professional development may include:

Legislation applying to the financial services industry area may include, but is not limited to:

Main government bodies involved in regulation of financial service product include:

Accepted codes of conduct include: