Application
This unit describes the skills and knowledge required to analyse, verify and process credit and debit transactions, and prepare reconciliation reports.
It applies to individuals who, within their limit of responsibility, use numeracy skills to accurately perform and check financial calculations and closely follow organisational procedures.
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. Perform analysis of transactions | 1.1 Reconcile teller bankings to daily amounts recorded in statements, in accordance with organisational policy and procedures, and relevant legislative and compliance requirements 1.2 Identify and action presented cheques, other credit and other debits according to organisational policy and procedures, and charge general ledger entries appropriately 1.3 Rectify errors and discrepancies in timely manner, and action and follow up as appropriate all entries on daily bank statements |
2. Analyse corporate cheques outstanding | 2.1 Generate exceptions reports, and identify, investigate and action exceptions in timely manner 2.2 Identify and action stale cheques according to organisational policy and procedures |
3. Complete reconciliations | 3.1 Complete reconciliation in accurate and timely manner, with any imbalances identified and rectified 3.2 Undertake appropriate liaison with customers and bank personnel as necessary |
Evidence of Performance
Evidence of the ability to:
verify and process cheques and debit and credit transactions accurately
thoroughly check transaction details and reconciliation reports, ensuring any errors are rectified in a timely manner
report any suspicious activity in accordance with organisational procedure
effectively complete bank account reconciliation processes, liaising with bank personnel if required.
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:
describe the key steps for the teller or customer service operator in analysing transactions and reconciling the main bank account
identify the key requirements of relevant legislation impacting on banking processes
identify and categorise the range and type of government and non-government charges affecting bank accounts
define the term ‘stale cheque’.
Assessment Conditions
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the financial retail services field of work and include:
access to common office equipment, technology, software and consumables.
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 | 1.1-1.3, 2.1, 2.2 | Accesses and interprets written information to determine requirements, check accuracy and complete necessary actions |
Writing | 1.2, 2.1, 3.2 | Completes forms and transaction records accurately Drafts reports using correct format, spelling and grammar, and accurate data |
Oral Communication | 3.2 | Participates in verbal exchanges using active listening and questioning to determine and confirm work requirements Uses language, terminology and concepts appropriate to purpose and a range of personnel |
Numeracy | 1.1-1.3, 2.1, 2.2, 3.1 | Uses mathematical equations to calculate and reconcile non-cash takings and check accuracy of calculations |
Navigate the world of work | 1.1, 1.2, 2.2 | Follows explicit organisational policy and procedures, and adheres to legislative and compliance requirements within work role |
Interact with others | 3.2 | Uses correct communication practices and protocols in familiar situations that require cooperation with others |
Get the work done | 1.1, 1.2, 1.3, 2.1, 2.2, 3.1 | Plans, organises, and completes tasks promptly according to organisational and legislative requirements Responds to routine problems by implementing standard or logical solutions Uses the main features and functions of digital tools and databases to complete work tasks |
Sectors
Financial retail services