This unit may be applied in a range of job roles with responsibility for organisational procedures.

ELEMENT

PERFORMANCE CRITERIA

1. Establish scope of the organisation

1.1. The scope of the organisation, including any service specialisations and restrictions, are identified and documented in the operational guidelines

1.2. Key external relationships and intended client groups are identified and documented in the operational guidelines

2. Identify legislation, regulations and codes of practice relevant to the organisation

2.1. The scope of the organisation is matched to legislation and regulations and compliance issues and procedures are identified and documented

2.2. The scope of the organisation is matched to industry codes of practice and compliance issues and procedures are incorporated into the operational guidelines

2.3. Ethical procedures and standards for the organisation are established and incorporated into the guidelines

3. Establish strategies for the delivery of services

3.1. Key positions, personnel, job descriptions and authorities are established for the organisation and documented in the operational guidelines

3.2. Administrative procedures including information flow requirements are established and documented in the operational guidelines

3.3. Internal and external resources available to assist in the delivery of services to clients are identified and incorporated into the operational guidelines

4. Arrange for distribution of information on operational guidelines

4.1. Mechanisms for distributing updates and amendments are established with opportunities for feedback and interpretation requests established

4.2. Operational guidelines are distributed to all relevant staff with briefings for new staff on the guidelines included as part of induction procedures

4.3. Sections of guidelines relevant to clients including client rights, performance standards and complaint procedures are communicated to clients and displayed where appropriate

5. Implement and monitor operational guidelines

5.1. Client service is established to requirements in operational guidelines

5.2. Reporting and monitoring procedures are established for research, client service, transactions, collection and processing of payments and receipts, legislative and regulatory reporting requirements, ongoing services and professional and ethical practices

5.3. Breaches in operational guidelines are identified and appropriate actions are taken

Required skills

well-developed communication skills to:

gather information and data by consulting with stakeholders, using questioning and active listening as required

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

highly developed research and analysis skills for accessing and managing complex information and assessing and planning management and governance requirements

well-developed literacy skills for interpreting and analysing complex documentation and producing management reports and clear and concise organisational guidelines

well-developed numeracy skills to accurately analyse, record and store data in accordance with organisational requirements

IT skills for accessing and using appropriate information system software, spreadsheets and databases and using internet information

problem solving skills to identify any issues that have the potential to impact on organisational management and client service and to develop options to resolve these issues when they arise

organisational skills, including the ability to plan and sequence work

Required knowledge

administrative processes and systems

documentation systems including registry and library processes

financial industry product knowledge

human resources procedures

marketing and advertising techniques and tools

office IT systems and software

relevant Acts, regulations and codes of practice

risk management strategies

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:

interpret and comply with relevant legislation and regulations

establish strategies for delivery of client service

test and assess the integrity of information systems

identify and address factors which may affect client service performance

assess risks and benefits associated with using a range of products and services

apply cost-benefit analysis to systems and procedures.

Context of and specific resources for assessment

Assessment must ensure:

competency is demonstrated in the context of the financial services 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 financial services product information

access to an financial information systems and data.

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

verbal or written questioning on underpinning knowledge and skills

setting and reviewing business simulations or scenarios

evaluating samples of work

accessing and validating third party reports.

Guidance information for assessment

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.

Organisations may include:

accounting organisations

banks

credit unions

financial planning organisations

investment organisations

mortgage brokers

service providers

superannuation funds.

Relevant legislation and regulations may include:

anti-discrimination legislation (Commonwealth and State or Territory)

Banking Act

Commonwealth Criminal Code

Consumer Affairs Act

Consumer Credit Code

contract law

Corporations Act

Financial Services Reform Act (FSRA)

Financial Transaction Reports Act

Income Tax Assessment Act

Industrial legislation

Insurance Act

Insurance Contracts Act

Life Insurance Act

Privacy Act

Reserve Bank Act

Retirement Savings Account Act

stamp duty legislation

Superannuation Industry (Supervision) Act (SIS)

Taxation Act

Trade Practices Act

trust law

workers compensation Acts.

Administrative procedures may include:

accounting

cleaning and maintenance

courier

data storage

external consultants

legal

post

printing

procurement

provision of utilities

public relations

security

travel and transportation

warehousing.

Client service may be pre, point of, or post sale and may include:

complaints handling

conservation activity

inquiries

policy changes

reports

timely and accurate documentation

written communication.

Unit sector

Organisational skills

This unit contains employability skills.