Application
This unit describes the skills and knowledge required to interpret and apply industry and organisational procedures, guidelines, policies, ethical standards, and sustainability requirements to day-to-day work in the financial services industry.
The unit applies to those with the fundamental skills required to work in the financial services industry. It underpins other entry-level units used in all sectors of the industry.
Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Users are advised to check with the relevant state and territory regulatory authorities to confirm those requirements.
Elements and Performance Criteria
1. Work within industry requirements and guidelines | 1.1 Apply relevant workplace procedures, instructions, organisational guidelines and codes of practice 1.2 Carry out work tasks safely and effectively according to specific organisational policies, guidelines and procedures, professional practice and ethical principles 1.3 Seek assistance from appropriate personnel to clarify application of guidelines, procedures and legislation, where necessary |
2. Establish and identify relationships | 2.1 Develop and maintain positive relationships 2.2 Identify needs, objectives and expectations of relevant stakeholders 2.3 Identify and respond to instructions and enquiries according to organisational policies and procedures 2.4 Identify required stakeholders to report queries and concerns about safety in the workplace |
3. Obtain and develop workplace information | 3.1 Access required information management systems and databases according to organisational policies and procedures 3.2 Develop workplace documents, input and extract data, and make calculations using organisational software 3.3 Confirm that presentation of written information meets relevant requirements 3.4 Assess risk and take action to reduce risk and to eliminate workplace hazards |
4. Work in a team environment | 4.1 Provide support to team members and contribute to work group goals and tasks 4.2 Share required financial information with group to ensure designated goals are met 4.3 Seek feedback on own performance, identify opportunities for improvement, and share feedback with group if required |
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:
work with at least three different financial services colleagues in the course of own work role.
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:
legislative and statutory requirements and industry codes of practice relating to working with others in own role, including:
work health and safety (WHS)
environmental sustainability, and approaches to environmental and resource efficiency
organisational policies, procedures and guidelines relating to own work tasks, including those relating to:
relevant management systems and databases
organisational standards of style and format
risk assessment and responses to workplace hazards and emergency incidents
organisational philosophy, values and objectives relevant to own work role
key features of financial services industry and the way it operates
types of financial risks in financial services
ethical principles that apply when working in the financial services industry
effective questioning and listening techniques
types of communication channels to share financial information
proprietary and/or organisational software that can be used to develop workplace documents, input and extract data, and make calculations.
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:
organisational policies, procedures, regulations and codes of practice
organisational equipment, technology and software.
Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.
Foundation Skills
Learning | Maintains accurate and current knowledge of regulations and standards relevant to role |
Oral communication | Engages in verbal exchanges, using active listening and questioning techniques to convey and clarify information Communicates with others suitable to the audience |
Reading | Interprets, consolidates and checks completeness of information and data |
Writing | Records and completes organisational documentation and correspondence using clear language and correct spelling, grammar and terminology |
Planning and organising | Plans and implements routine tasks and workload, making limited decisions on sequencing, timing and collaboration, and seeking assistance in setting priorities |
Problem solving | Makes low-impact decisions within familiar situations, based on a range of predefined or routine solutions, and evaluates the effectiveness of the outcomes Responds to predictable routine problems by implementing standard or logical solutions |
Self-management | Understands roles and responsibilities for task and makes basic decisions on work completion parameters Identifies and takes steps to follow accepted communication practices and protocols Complies with work instructions and contributes to work group discussions and tasks using accepted conventions |
Teamwork | Uses a limited range of accepted practices for communicating in a work environment Responds to common cultural and other differences of people in the work context and makes adjustments when addressing the differences |
Technology | Uses digital systems and technologies for accessing, entering, storing and sharing information according to routine procedures and security requirements Works with proprietary and organisational software to develop workplace documents, input and extract data, and make calculations |
Sectors
Industry capability