Required skills

highly developed communication skills to

determine and confirm work and client requirements using questioning and active listening as required

provide customer service and deal sensitively with clients

resolve disputes and conflicts

liaise with others such as specialist advisers share information listen and understand

use language and concepts appropriate to cultural differences

customer service skills

research and analysis skills for accessing interpreting and managing information and performing genealogical searches

IT skills for accessing and using appropriate systems and databases and using internet information

highly developed numeracy skills to prepare and interpret complex financial statements and perform complex financial calculations

welldeveloped literacy skills to

read and interpret documentation from a variety of sources

prepare documentation

record consolidate and file information

administrative and organisational skills including the ability to plan and sequence work

Required knowledge

relevant State and Territory legislation and regulation relating to

wills

intestacies

attorneyshipsguardianships

probate and administration

trusteeships

investment of trust assets

Commonwealth legislation and regulations including

Income Tax Assessment Act

business law for financial institutions including

guidelines and procedures to ensure that legal requirements are met when entering into a contract

correct legal terminology and phrases

statutory charges taxes and other fees applicable to financial institutions

legal parameters of the customerfinancial institution relationship

organisational policies and procedures regarding

products and services offered by the organisation and fees attached

roles responsibilities and powers of the personal trust officer including

organisational expectations

limitation of personal authority eg not giving investment advice

professional code of conduct in the personal trustee industry including

ethical practices

integrity

professionalism

confidentiality

techniques for how and when to contact key organisational personnel with expertise in specialised areas relating to the personal trustee industry and external specialists and resources relevant to requirements in the personal trustee industry

role of external specialists and resources relevant to requirements in the personal trustee industry

basic legal and administrative requirements for managing a business including WorkCover or similar schemes superannuation and group tax

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

undertake relevant tasks associated with assisting clients in administering trusts using customer service strategies that allow for customers needs to be assessed and responded to in complex situations to ensure maximum customer satisfaction

apply conflict resolution skills to recognise potential conflict in a variety of situations including internal and using strategies to defuse the situation

prepare and interpret complex financial statements

use high level investigation skills such as genealogical research

manage status reports on complex matters with competing priorities

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 appropriate legislation and regulations relevant to preparing a trust workplace manuals and reference material such as company policy procedural manuals and checklists

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 simulations or scenarios

accessing and validating third party reports

Guidance information for assessment

Complex issues or needs may include:

Legal, statutory and organisational requirements may include:

Appropriate tools may include:

Ongoing management of the trust may include:

Additional considerations may include: