Application
This unit requires the application of management and professional skills and may be applied to a professional practice or to a discrete unit of a larger organisation in any sector of the financial services industry. |
Elements and Performance Criteria
ELEMENT | PERFORMANCE CRITERIA |
1. Meet human resource requirements | 1.1. Skill needs of the organisation or business unit and the number and location of personnel required are identified or reviewed 1.2. Consultants with specialist skills and other required personnel are recruited or assigned as appropriate |
2. Implement training | 2.1. Training programs are developed to achieve the required service support outcomes and implemented in an efficient and timely way 2.2. Evaluation and review of training programs against requirements is undertaken on a regular planned basis |
3. Implement information support system | 3.1. Information distribution and access needs are established or reviewed and the range of information types to be collected, processed and stored is determined 3.2. Suitable and required information support technology and access to IT support staff is identified and obtained 3.3. Measures to monitor the efficiency of information systems are established 3.4. Information is stored securely and to enable efficient access |
4. Provide administrative and ancillary services | 4.1. Administration and ancillary service needs and standards are determined against operating requirements, and budget allocation 4.2. Processes and procedures are developed and introduced so that services are delivered within timelines and budget 4.3. Service needs are reassessed regularly in light of usage and budget |
Required Skills
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Required skills |
highly developed communication skills to: determine and analyse organisational human resource and administrative needs, using questioning and active listening as required liaise with peers, staff and external service providers, share information, listen and understand use language and concepts appropriate to cultural differences highly-developed research skills for: accessing and managing complex information from a wide variety of sources interpreting complex data coordinating multiple tasks across an organisation highly-developed literacy skills to read and interpret documentation from a variety of sources and produce high quality reports and organisational guidelines IT skills for accessing and using appropriate software such as word processors, spreadsheets and databases, using internet information and analysing organisational hardware and software requirements management skills for working effectively in a constantly changing environment interpersonal skills to establish rapport with peers, staff and clients highly developed judgement skills for forming recommendations in senior organisational situations organisational and time management skills to sequence tasks, meet timelines and arrange meetings well-developed problem solving skills to identify human resource needs and administrative systems that have the potential to impact on the practice and to develop options to resolve any issues if they arise self-management skills for complying with ethical, legal and procedural requirements learning skills to maintain knowledge of changes to compliance legislation and best practice management techniques teamwork skills high level project management skills |
Required knowledge |
best practice human resources procedures cost-benefit analyses techniques for systems and procedures documentation systems including registry and library processes financial products, their characteristics and risk profile financial practice administrative processes and systems financial practice professional services office IT systems and software training and assessment techniques and available services relevant acts, regulations and codes of practice impacting on the financial services industry |
Evidence Required
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 skill requirements and strategies to attain them including developing, implementing and reviewing training test and assess the integrity and relevance of information from a wide range of available information sources and develop strategies to attain information not readily available within a practice evaluate systems against practice requirements and form recommendations apply cost-benefit analyses 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 relevant legislation, regulations and codes of practice. |
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 workplace projects and business simulations/scenarios evaluating samples of work accessing and validating third party reports. |
Guidance information for assessment |
Range Statement
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. | |
Personnel may include: | client service representatives general support staff receptionists specialists specific skilled personnel such as: account managers representatives word and data processing operators. |
Specialist consultants may include: | accountants insurance company representatives legal professionals risk analysts or managers. |
Training programs may include: | accredited training delivered by a Registered Training Organisation (RTO) external seminars induction training industry or common interest groups in-house structured unstructured. |
Information support can include: | computers stand alone networks internal company communications libraries including newspapers and specialist journals manual card systems media. |
Administrative and ancillary services may include: | accounting cleaning and maintenance courier data storage external consultants legal post printing procurement provision of utilities public relations security secure archiving and warehousing travel and transportation. |
Service standards may include: | accuracy rates completion dates data availability document presentation procedures response times staff communication. |
Sectors
Unit sector | Practice management |
Employability Skills
This unit contains employability skills. |
Licensing Information
Not applicable.