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

FNSSUP601A Mapping and Delivery Guide
Liaise with and support trustees

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSSUP601A - Liaise with and support trustees
Description This unit describes the performance outcomes, skills and knowledge required to determine trustee requirements, provide support to trustees, make recommendations to trustees and implement trustee decisions.This unit is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements including legislation administered by the Australian Securities and Investments Commission (ASIC).
Employability Skills This unit contains employability skills.
Learning Outcomes and Application This unit as application to trustees and can be applied to advisory and administrative job roles.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.
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: Determine trustee requirements
  • Communication and documentation requirements of trustees are established
  • Support requirements of trustee are established
  • Legislative and regulatory requirements in trustee liaisons are established
  • Operational procedure for working with trustee is implemented
       
Element: Provide support to trustee
  • Support is provided to trustees in a range of areas
  • Trustee is updated on progress in relevant areas
  • Trustee is provided with required information to implement trustee responsibilities
  • Fund issues are resolved
  • Documentation is managed
       
Element: Make recommendations to trustee
  • Performance is reported on regarding standards achieved
  • Recommendations are documented
  • Where appropriate trustee is provided with recommendations for decisions on outsourced services and fund personnel
       
Element: Implement trustee decisions
  • Trustee decisions are clearly defined and implications identified
  • Trustee decisions are communicated to appropriate personnel
  • The implementation of trustee decisions is initiated, supervised and monitored
  • Confirmation of implementation is provided to trustee
       


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.

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:

determine trustee requirements and provide support to trustees

make recommendations to trustees and implement their decisions

monitor specialist services and make recommendations for improvement to fund service and performance.

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

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.

Required skills

highly-developed communication and negotiation 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 supporting trustees

access and update account records electronically

using computer databases, member, client databases and telecommunication devices

use internet information

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

interpersonal skills to relate effectively with trustees, and within a team environment

organisation skills, including the ability to plan and sequence work

problem-solving skills to identify any issues that have the potential to impact on the fund management and trustee liaison processes or outcomes and to develop options to resolve these issues when they arise

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

communication and documentation requirements of trustees

documentation management requirements

features, compliance and reporting requirements of the Superannuation Industry (Supervision) (SIS) Act, Taxation Act, Corporations Act and other relevant legislation

industry products and services

organisation procedures for:

ensuring compliance

managing specialist services

performance management

risk management strategies

role and responsibilities of trustees

timeframe requirements for compliance reports for specialist services

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Legislative and regulatory requirements may include:

anti-discrimination legislation

Corporations Act

Family Law Legislation Amendment Superannuation Act

Financial Services Reform Act (FSRA)

Income Tax Assessment Act

industrial legislation

Insurance Act

Privacy Act

Retirement Savings Account Act

stamp duty legislation

Superannuation (Resolution of Complaints) Act

Superannuation (Unclaimed Moneys and Lost Members) Act

Superannuation Contributions Tax (Assessment and Collection) Act (surcharge)

Superannuation Guarantee (Administration) Act (SGAA)

Superannuation Industry (Supervision) Act (SIS)

Superannuation Industry (Supervision) Regulations

trade practices legislation

Trustee Acts or Trust Acts in each State and Territory.

Range of areas may include:

actuaries

administrators

auditors

Australian Securities and Investments Commission (ASIC) consultants

custodials

employer relationship managers

financial planners

information technology (IT) specialists

insurers

investment managers

sales and marketing specialists

solicitors

trustees.

Required information may include:

complaints proceedings

compliance issues

human resource issues

industry trends

investment performance

marketing issues

organisation performance

research.

Fund issues may include:

complaints

compliance issues

documentation issues

IT issues

outsourced service issues

performance issues

severe financial hardship case applications

staffing issues.

Documentation management may include:

archiving

statutory documentation retention

taking and distribution of minutes.

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
Communication and documentation requirements of trustees are established 
Support requirements of trustee are established 
Legislative and regulatory requirements in trustee liaisons are established 
Operational procedure for working with trustee is implemented 
Support is provided to trustees in a range of areas 
Trustee is updated on progress in relevant areas 
Trustee is provided with required information to implement trustee responsibilities 
Fund issues are resolved 
Documentation is managed 
Performance is reported on regarding standards achieved 
Recommendations are documented 
Where appropriate trustee is provided with recommendations for decisions on outsourced services and fund personnel 
Trustee decisions are clearly defined and implications identified 
Trustee decisions are communicated to appropriate personnel 
The implementation of trustee decisions is initiated, supervised and monitored 
Confirmation of implementation is provided to trustee 

Forms

Assessment Cover Sheet

FNSSUP601A - Liaise with and support trustees
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

FNSSUP601A - Liaise with and support trustees

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: