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.

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

develop, monitor and supervise work practices that are required to meet financial services regulatory requirements on two occasions and include:

interpreting compliance with regulatory requirements and codes of conduct for work practices

monitoring of work practices to confirm compliance with applicable organisational, legislative and regulatory requirements

assessing of the effectiveness of workplace procedures

undertaking of continual professional development by staff

implementing of organisational quality assurance procedures.

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

main industry roles of financial representatives

fraud deterrence practices

key trends of the regulatory environment

key government bodies and representatives involved in regulating financial products and services, and methods for accessing their regulatory guidance and information

main features, benefits, practices, and licensing and prudential requirements of different types of financial products and services offered by the organisation

organisational governance framework, policy, procedures, objectives and guidelines

a range of applicable professional development activities

applicable legislation, regulation and compliance requirements for the financial services industry, including privacy obligations and codes of practice

supervisory responsibilities for ensuring compliance within the applicable financial services area.

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)

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.

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
Develop and maintain frameworks for management obligations for licensing and prudential requirements on products and services offered by organisation
Critically analyse existing organisational governance over obligations, licensing and prudential requirements
Maintain registers of obligation according to organisational policies and procedures
Communicate updates to licensing and regulatory obligations to staff
Inform staff of financial products and services offered by organisation, requirements of industry organisations and service providers
Identify for staff features and processes of specific products and services
Conduct research and engage in continuous professional development to improve and inform knowledge of industry product and service developments
Communicate updates to industry products and service developments to staff
Establish protocols for regulatory engagement
Identify and manage key trends of the regulatory environment
Critically analyse proposed responses to regulatory changes
Manage regulatory requests with appropriate stakeholders according to organisational policies and procedures
Update relevant systems with details of regulatory interactions within required time frames
Access and monitor legislation and regulatory information applicable to relevant work practices
Monitor client interactions to ensure advisory limitations required by the regulator are met
Establish and maintain work practices with required documentation to comply with legislative guidelines
Monitor all work for adherence to accepted codes of conduct and escalate incidents of non-compliance to appropriate personnel
Review completed and current work of team members to confirm compliance to established work practices
Provide appropriate feedback to individuals on compliant and non-compliance work practice
Investigate and escalate non-compliant work practices according to organisational policies and procedures
Identify and assess implementation of workplace processes and procedures within area of responsibility
Critically analyse implementation of licensing and regulatory changes
Identify areas for improvement in workplace procedures and make recommendations to appropriate personnel
Implement and monitor organisational quality assurance measures and systems as required, and document results
Prepare documents to meet regulatory requirements
Critically analyse reports to be submitted to regulators

Assessment Cover Sheet

FNSORG514 - Develop, monitor and supervise work practices to meet financial services regulatory requirements

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

FNSORG514 - Develop, monitor and supervise work practices to meet financial services regulatory requirements

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: