Required skills

welldeveloped communication skills to

gather information and data by consulting with staff and potential suppliers using questioning and active listening as required

liaise with others share information listen and understand

use language and concepts appropriate to cultural differences

highly developed research and analysis skills for accessing and managing complex information and assessing outsourcing and governance requirements

welldeveloped literacy skills to

interpret and analyse complex documentation including regulatory and legal compliance requirements and guidelines

draft outsourcing tender documentation specification and performance measures

produce management reports

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

IT skills for accessing and using appropriate integrated financial system software spreadsheets and databases and using internet information

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

organisational skills including the ability to plan and sequence work

Required knowledge

features compliance and reporting requirements of the relevant sector of industry

organisational procedures for ensuring RG compliance

performance management procedures

reputation and expertise of service providers in the industry

risk management strategies

scope of service provisions

timeframe requirements for compliance reports for specialist 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

interpret and comply with legislative and regulatory requirements

establish criteria for outsourced services and select and effectively and efficiently engage them

effectively monitor performance of outsourced services

implement a tender process and assess applications

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 information

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

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

Outsourced services may include:

Legislative and regulatory guidelines may include:

Performance standards may include:

Required changes in service may include: