Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners

FNSFMK504 Mapping and Delivery Guide
Complete confirmation and settlement processes

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSFMK504 - Complete confirmation and settlement processes
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to check dealing transaction documentation and complete confirmation and settlement processes.It applies to individuals who use specialised knowledge and systematic approaches to check accuracy and complete work requirements.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the financial markets field of work and include access to:

office equipment, technology, software and consumables

an integrated financial software system and data.

Assessors must satisfy NVR/AQTF assessor requirements.
Prerequisites/co-requisites
Competency Field
Development and validation strategy and guide for assessors and learners Student Learning Resources Handouts
Activities 		Slides
PPT 		Assessment 1 Assessment 2 Assessment 3 Assessment 4
Elements of Competency Performance Criteria              
Element: Process transaction documentation
  • Check transaction documentation received from dealer promptly for accuracy and completion according to organisational guidelines
  • Enter details on transaction documentation into organisational dealing system using appropriate technology
  • Review organisational records to ensure that master agreements are in place before confirmation processes are conducted
       
Element: Complete confirmation processes
  • Produce and forward organisational confirmation documentation to client for approval and authorisation
  • Receive authorised confirmation documentation and complete financial transaction according to confirmed settlement procedures and organisational and industry requirements
  • Forward confirmation documentation to client outlining settlement exchange details
       


Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Process transaction documentation

1.1 Check transaction documentation received from dealer promptly for accuracy and completion according to organisational guidelines

1.2 Enter details on transaction documentation into organisational dealing system using appropriate technology

1.3 Review organisational records to ensure that master agreements are in place before confirmation processes are conducted

2. Complete confirmation processes

2.1 Produce and forward organisational confirmation documentation to client for approval and authorisation

2.2 Receive authorised confirmation documentation and complete financial transaction according to confirmed settlement procedures and organisational and industry requirements

2.3 Forward confirmation documentation to client outlining settlement exchange details

Evidence of the ability to:

interpret and comply with organisational and industry settlement and confirmation procedures

use transaction processing systems

process transaction documentation

complete confirmation processes.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must: :

describe the key features and processes relating to master agreement instructions

describe the key features of:

organisational and industry confirmation systems and procedures

organisational and industry settlement systems and procedures

organisational policy and procedures.

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assignment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Process transaction documentation

1.1 Check transaction documentation received from dealer promptly for accuracy and completion according to organisational guidelines

1.2 Enter details on transaction documentation into organisational dealing system using appropriate technology

1.3 Review organisational records to ensure that master agreements are in place before confirmation processes are conducted

2. Complete confirmation processes

2.1 Produce and forward organisational confirmation documentation to client for approval and authorisation

2.2 Receive authorised confirmation documentation and complete financial transaction according to confirmed settlement procedures and organisational and industry requirements

2.3 Forward confirmation documentation to client outlining settlement exchange details

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Check transaction documentation received from dealer promptly for accuracy and completion according to organisational guidelines 
Enter details on transaction documentation into organisational dealing system using appropriate technology 
Review organisational records to ensure that master agreements are in place before confirmation processes are conducted 
Produce and forward organisational confirmation documentation to client for approval and authorisation 
Receive authorised confirmation documentation and complete financial transaction according to confirmed settlement procedures and organisational and industry requirements 
Forward confirmation documentation to client outlining settlement exchange details 

Forms

Assessment Cover Sheet

FNSFMK504 - Complete confirmation and settlement processes
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:

Assessment Record Sheet

FNSFMK504 - Complete confirmation and settlement processes

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: