Application
This unit describes the skills and knowledge required to process transactions and complete appropriate documentation.
It applies to individuals with specialised knowledge who use systematic approaches for processing information and resolving issues within their area of responsibility.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Elements and Performance Criteria
ELEMENT | PERFORMANCE CRITERIA |
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Complete pre-deal documentation and authorisations | 1.1 Complete onboarding checks for new clients according to regulatory requirements and organisational guidelines 1.2 Establish and confirm type of transaction client wishes to undertake 1.3 Check and confirm master agreement is in place for client and relevant transaction 1.4 Confirm client authorisation to trade in specified financial product and for relevant transaction 1.5 Discuss, clarify and resolve any issues related to product or transaction with client |
2. Execute transaction for client | 2.1 Check and verify that transaction is within client’s and own authorised trading limits 2.2 Confirm with client whether trade is to be centrally cleared 2.3 Confirm details of trade and obtain client’s acknowledgement 2.4 Capture accurate details of transaction in organisation’s systems, including risk management requirements in required timeframe 2.5 Report details of transaction to authorised trade repository as required |
3. Complete processes for confirming and settling transaction | 3.1 Forward details of transaction order to client promptly 3.2 Complete financial transaction according to organisation and industry requirements 3.3 Investigate exceptions and fails promptly if notified by investigations teams or relevant personnel |
Evidence of Performance
Evidence of the ability to:
deal effectively with clients and accurately interpret their trading requirements in a timely manner
execute a transaction for a client that is compliant with regulatory and organisational requirements.
Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.
Evidence of Knowledge
To complete the unit requirements safely and effectively, the individual must:
outline key financial product transaction requirements
explain key features of:
international standards that relate to operational and other related financial risk considerations in product transactions
anti-money laundering and counter-terrorism financing legislation
describe key features of:
organisational and industry transaction procedures
organisational policy and procedures
explain trading requirements and checking systems.
Assessment Conditions
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
relevant standards and legislation.
Assessors must satisfy NVR/AQTF assessor requirements.
Foundation Skills
This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.
Skill | Performance Criteria | Description |
Reading | 1.1-1.4, 2.3, 3.2 | Interprets and checks accuracy of complex information and financial data from a range of sources to determine and confirm requirements |
Writing | 1.1-1.5, 2.2-2.5, 3.1, 3.3 | Records key information and accurately and comprehensively prepares documentation following organisational procedures and protocols |
Oral Communication | 1.2-1.5, 2.2, 2.3 | Participates in verbal exchanges using active listening and questioning techniques, appropriate to audience and purpose, to convey and clarify information |
Numeracy | 2.1, 2.3, 3.2 | Uses mathematical equations to perform calculations and analyse complex financial data to achieve required outcomes |
Navigate the world of work | 1.1-1.4, 2.1, 3.2 | Keeps up to date on changes to legislation or regulations relevant to own rights and responsibilities and considers implications of these when negotiating, planning and undertaking work |
Interact with others | 1.1-1.5, 2.2, 2.3, 2.5 | Selects and uses appropriate conventions and protocols when communicating with personnel |
Get the work done | 2.4, 3.1-3.3 | Takes responsibility for planning, sequencing and prioritising tasks and own workload for efficiency and effective outcomes Uses formal analytical processes to identify potential problems and lateral thinking processes to generate possible solutions Uses digital tools to access and organise complex data and analyse multiple sources of information for strategic purposes |
Range Statement
This section specifies different work environments and conditions that may affect performance. Essential operating conditions that may be present (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) are included.
Accurate details of the transaction must be compliant with: | Australian Securities Exchange (ASX) market rules Australian Clearing House (ACH) clearing rules Australian Settlement and Transfer Corporation (ASTC) settlement rules (collectively referred to as the ASX Rules). |
Sectors
Financial markets