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

FNSRTS302 Mapping and Delivery Guide
Handle foreign currency transactions

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSRTS302 - Handle foreign currency transactions
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to provide customer service and handle foreign currency transactions, including buying and selling foreign currency travellers cheques, notes and coins within a retail banking environment.It applies to individuals who, within their level of responsibility, use clear communication skills to provide current and accurate information and follow organisational procedures to process transactions.No licensing, legislative or certification requirements apply to this unit at the time of publication.
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 retail services field of work and include access to:

common office equipment, technology, software and consumables

foreign exchange rates systems and current information.

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: 1. Identify nature of customer's foreign currency needs
  • Clarify nature of foreign currency transaction with customer
  • Obtain relevant information from customer, including verifying identity of person presenting notes for sale or wishing to purchase foreign currency according to organisational policy and procedures
  • 1.3 Handle customer requests for foreign currency dealings in accordance with officer's authority to approve transactions
       
Element: Verify that proposed transaction can be conducted
  • Identify cleared funds as available for requests to purchase foreign currency
  • Assess stocks of currencies held on site and inform customer if their requests for foreign currency notes can be fulfilled or advise when currencies will be available
  • Verify foreign currency notes presented for sale for authenticity according to organisational procedures
       
Element: Conduct transaction
  • 3.1 Calculate conversion of foreign currency amounts using organisation's set procedures and tables or by accessing relevant databases
  • Provide customer with copy of rates used to calculate currency conversion
  • Witness customer’s signature, in accordance with policies and procedures, if travellers cheques are being purchased or sold
  • Enter details of transaction into relevant database
       
Element: Maintain accurate records of transaction
  • Complete required vouchers and receipts in accordance with organisational procedures and obtain required signatures on relevant documentation
  • Complete and file relevant reports in event of significant cash transactions, including relevant reports where transaction is considered a possible suspect transaction
  • Update and maintain internal records of foreign currency transactions in accordance with organisational procedures
       
Element: Identify nature of customer's foreign currency needs
  • Clarify nature of foreign currency transaction with customer
  • Obtain relevant information from customer, including verifying identity of person presenting notes for sale or wishing to purchase foreign currency according to organisational policy and procedures
  • Handle customer requests for foreign currency dealings in accordance with officer's authority to approve transactions
       


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. Identify nature of customer's foreign currency needs

1.1 Clarify nature of foreign currency transaction with customer

1.2 Obtain relevant information from customer, including verifying identity of person presenting notes for sale or wishing to purchase foreign currency according to organisational policy and procedures

1.3 Handle customer requests for foreign currency dealings in accordance with officer's authority to approve transactions

2. Verify that proposed transaction can be conducted

2.1 Identify cleared funds as available for requests to purchase foreign currency

2.2 Assess stocks of currencies held on site and inform customer if their requests for foreign currency notes can be fulfilled or advise when currencies will be available

2.3 Verify foreign currency notes presented for sale for authenticity according to organisational procedures

3. Conduct transaction

3.1 Calculate conversion of foreign currency amounts using organisation's set procedures and tables or by accessing relevant databases

3.2 Provide customer with copy of rates used to calculate currency conversion

3.3 Witness customer’s signature, in accordance with policies and procedures, if travellers cheques are being purchased or sold

3.4 Enter details of transaction into relevant database

4. Maintain accurate records of transaction

4.1 Complete required vouchers and receipts in accordance with organisational procedures and obtain required signatures on relevant documentation

4.2 Complete and file relevant reports in event of significant cash transactions, including relevant reports where transaction is considered a possible suspect transaction

4.3 Update and maintain internal records of foreign currency transactions in accordance with organisational procedures

Evidence of the ability to:

undertake a range of foreign currency transactions effectively and accurately within a range of authority and compliance procedures

complete relevant identification checks, verifications of documentation and ensure stocks of currency

follow organisational procedures to conduct foreign currency transactions

use appropriate tools and calculate conversion of foreign currency accurately

complete and maintain accurate records according to organisational policy and procedures.

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 a range of foreign currency transactions undertaken by the organisation

explain the key requirements of industry codes of practice and legislation, and their relevance to foreign currency transactions

describe the key features of organisational policy and procedures in regard to foreign currency transactions

identify and categorise relevant fees and charges for foreign currency transactions.

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. Identify nature of customer's foreign currency needs

1.1 Clarify nature of foreign currency transaction with customer

1.2 Obtain relevant information from customer, including verifying identity of person presenting notes for sale or wishing to purchase foreign currency according to organisational policy and procedures

1.3 Handle customer requests for foreign currency dealings in accordance with officer's authority to approve transactions

2. Verify that proposed transaction can be conducted

2.1 Identify cleared funds as available for requests to purchase foreign currency

2.2 Assess stocks of currencies held on site and inform customer if their requests for foreign currency notes can be fulfilled or advise when currencies will be available

2.3 Verify foreign currency notes presented for sale for authenticity according to organisational procedures

3. Conduct transaction

3.1 Calculate conversion of foreign currency amounts using organisation's set procedures and tables or by accessing relevant databases

3.2 Provide customer with copy of rates used to calculate currency conversion

3.3 Witness customer’s signature, in accordance with policies and procedures, if travellers cheques are being purchased or sold

3.4 Enter details of transaction into relevant database

4. Maintain accurate records of transaction

4.1 Complete required vouchers and receipts in accordance with organisational procedures and obtain required signatures on relevant documentation

4.2 Complete and file relevant reports in event of significant cash transactions, including relevant reports where transaction is considered a possible suspect transaction

4.3 Update and maintain internal records of foreign currency transactions in accordance with organisational procedures

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
Clarify nature of foreign currency transaction with customer 
Obtain relevant information from customer, including verifying identity of person presenting notes for sale or wishing to purchase foreign currency according to organisational policy and procedures 
1.3 Handle customer requests for foreign currency dealings in accordance with officer's authority to approve transactions 
Identify cleared funds as available for requests to purchase foreign currency 
Assess stocks of currencies held on site and inform customer if their requests for foreign currency notes can be fulfilled or advise when currencies will be available 
Verify foreign currency notes presented for sale for authenticity according to organisational procedures 
3.1 Calculate conversion of foreign currency amounts using organisation's set procedures and tables or by accessing relevant databases 
Provide customer with copy of rates used to calculate currency conversion 
Witness customer’s signature, in accordance with policies and procedures, if travellers cheques are being purchased or sold 
Enter details of transaction into relevant database 
Complete required vouchers and receipts in accordance with organisational procedures and obtain required signatures on relevant documentation 
Complete and file relevant reports in event of significant cash transactions, including relevant reports where transaction is considered a possible suspect transaction 
Update and maintain internal records of foreign currency transactions in accordance with organisational procedures 
Clarify nature of foreign currency transaction with customer 
Obtain relevant information from customer, including verifying identity of person presenting notes for sale or wishing to purchase foreign currency according to organisational policy and procedures 
Handle customer requests for foreign currency dealings in accordance with officer's authority to approve transactions 

Forms

Assessment Cover Sheet

FNSRTS302 - Handle foreign currency transactions
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

FNSRTS302 - Handle foreign currency transactions

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: