Application
This unit describes the skills and knowledge required to develop and implement policies and procedures that embed and promote values and culture in an organisation.
It involves assessing the current state of the organisation’s values and culture, modelling organisational values, embedding ethical practice into the organisation's culture and processes and promoting ethical leadership and decision making at all levels of the organisation.
It applies to responsible managers in financial services organisations, who are responsible for leading and influencing work practices and conduct in the organisation. They use cognitive and creative skills to review, critically analyse, consolidate and synthesise knowledge, in order to generate ideas and provide solutions to complex problems. They use communication skills to demonstrate their understanding of theoretical concepts and to transfer knowledge and ideas to others.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Elements and Performance Criteria
1. Assess current state of organisational values and culture | 1.1 Source and interpret information related to organisation’s values and culture 1.2 Analyse the implications of the licence obligation to provide financial services ‘efficiently, honestly and fairly’ for the organisation’s operations. 1.3 Identify threats to organisational purpose, vision and mission and develop strategies to act on them. 1.4 Identify policies and procedures that do not align to organisational values and culture |
2. Embed compliance into organisation’s culture and processes | 2.1 Interpret organisational values in terms of the company’s vision statement and mission 2.2 Articulate an organisational purpose that is meaningful for staff of organisation or business unit 2.3 Ensure common understanding by discussing organisational purpose and values with staff |
3. Influence the development of policies and procedures that support organisational values and culture | 3.1 Influence the development of policies and procedures to align with organisational purpose, vision, mission and organisational values and in accordance with organisational procedures 3.2 Influence the development of policies and procedures that allow individuals to safely report potential breaches of organisational values and procedures 3.3 Review and revise policy and procedures in consultation with key stakeholders |
4. Implement and promote the developed policies and procedures | 4.1 Identify and assess accountability structures in the organisation to determine alignment with organisational purpose and values 4.2 Establish strategies to monitor and evaluate performance for alignment with organisational values 4.3 Communicate policies, procedures, conduct expectations, requirements and guidance to staff according to strategy |
5. Promote a shared understanding of organisational values and culture | 5.1 Assess conduct risks in business unit or organisation and develop conduct guidance for staff 5.2. Establish metrics to identify weaknesses and threats to organisational values and culture 5.3 Identify weaknesses and threats to organisational culture by monitoring established metrics 5.4 Develop remedial strategies and training to address conduct risks, identified weaknesses and threats |
Evidence of Performance
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 and implement policies and procedures that support organisational values and culture for at least one vulnerable area in an organisation or business unit’s current practices.
In the course of the above, the candidate must:
assess conduct risks in business unit or organisation
establish process for reporting suspected breaches of organisational values and culture.
Evidence of Knowledge
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:
key requirements of licence obligations
key features of policies and procedures, including:
expectations of conduct within organisation and with external stakeholders
strategies for implementing policies and procedures to reinforce organisational values and culture
strategies for application to complex ethical problems
reporting methods for suspected breaches and unethical conduct
information sources of organisational values and culture, including:
organisation’s vision and mission statements
financial services industry code of conduct
organisational code of conduct and protocols
communication methods for promoting policies and procedures relating to organisational values and culture
leadership styles and their application in supporting the organisation’s mission, objectives and values.
industry standard tools and techniques used for establishing metrics for implementation of policies and procedures and recording and storing data
strategies and protocols that can be used to identify and address actions that are not aligned with organisational values.
Assessment Conditions
Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.
This includes access to:
common office equipment, technology, software and consumables
organisational information systems and data, including legislation, regulations, and tools required to produce the performance evidence.
Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.
Foundation Skills
Oral communication | Demonstrates flexibility in spoken interactions and uses a range of analytical and inclusive techniques to clearly convey information Uses listening and questioning techniques to elicit the views and opinions of others and to confirm understanding |
Reading | Extracts, analyses and consolidates information and data from a range of sources including structurally complex texts |
Writing | Uses a range of text types to identify applicable information, gather responses and establish priorities |
Teamwork | Selects and uses appropriate conventions and protocols to communicate with internal and external stakeholders to gain and provide information Plays a lead role in situations requiring collaboration, demonstrating high level negotiation skills and ability to gather information through consultation |
Planning and organising | Plans and implements processes to monitor achievement of organisational goals |
Problem solving | Applies systematic and analytical decision-making processes to make recommendations in complex and non-routine situations |
Self-management | Takes responsibility for planning, sequencing and prioritising tasks and own workload for efficiency and effective outcomes Seeks to update own knowledge of legislation and regulations applicable to role to ensure it is comprehensive and current |
Technology | Uses digital technologies to access, extract and share information to achieve outcomes |
Sectors
Ethics and conduct