Required skills

communication skills to

liaise with others share information confirm work requirements using questioning and active listening as required

use language and concepts appropriate to cultural differences

numeracy and IT skills to

perform calculations related to fund reviews

access and update account records electronically

use internet information

literacy skills to read and interpret documentation from a variety of sources and record and consolidate related information

data analysis and interpretation skills to

assess validity and usefulness of information

conduct data integrity checks

interpersonal skills to relate effectively within a team environment

organisation skills including the ability to plan and sequence work

high level analytical skills to review fund operations

learning skills to maintain knowledge of changes to products and relevant legislation

judgement skills for forming recommendations in operational situations

management skills for working effectively in a constantly changing environment

Required knowledge

organisation policies objectives and guidelines

purpose process and documentation requirements for annual review

definitions of categories listed in the chart of accounts

features and requirements of Australian Accounting Standard AAS

reporting alternatives for defined benefit funds and accumulation funds

capital gains taxation requirements

features and auditing requirements of the Superannuation Industry Supervision SIS Act

information requirements for financial statements from members employers trustees fund administrators trade unions investors taxpayers

methodology for determining asset value and unit pricing

Privacy Act obligations

fraud deterrence practices

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 data integrity checks

participate in fund review processes according to organisation guidelines and conduct annual fund review

identify and conduct quality assurance work practices

maintain uptodate knowledge of fund review practices

Context of and specific resources for assessment

Assessment must ensure

competency is demonstrated in the context of the 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 organisation financial records

access to organisation policies and procedures

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

verbal or written questioning on underpinning knowledge and skills

evaluating samples of work

accessing and validating third party reports

setting and reviewing workplace business simulations or scenarios

Guidance information for assessment

Organisation guidelines may include:

Reports provided to Trustees may include:

Reports provided to insurers may include:

Reports provided to actuaries may include: