FNSSUP506A - Supervise and monitor operational guidelines in a superannuation organisation

FNSSUP506A
Supervise and monitor operational guidelines in a superannuation organisation

This unit describes the performance outcomes, skills and knowledge required to identify organisation operational guidelines and practices, supervise their implementation, distribute information on operational guidelines to staff, and monitor operational procedures and guidelines in an area or department within the organisation.This unit is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements including legislation administered by the Australian Securities and Investments Commission (ASIC).

Application

This unit applies to supervisory job roles within the superannuation sector.

Elements and Performance Criteria

ELEMENT	PERFORMANCE CRITERIA
1. Identify the organisation's operational guidelines and practices	1.1. Documented procedures that guide the operation of the organisation are identified and read 1.2. Practices that implement the operational guidelines are identified 1.3. Compliance requirements in the implementation of operational guidelines are identified 1.4. Industry codes of practice relevant to the implementation of operational guidelines are identified 1.5. Ethical standards in the implementation of operational guidelines are identified 1.6. Performance measures and operational outcomes are identified
2. Supervise the implementation of operational guidelines	2.1. Key positions, personnel, job descriptions and authorities are identified 2.2. Performance of staff, systems and resources is measured and assessed in a systematic way 2.3. Support is arranged to ensure operational guidelines are being implemented 2.4. Conformance of staff, systems and resources with operational guidelines is regularly assessed 2.5. Operational guidelines are periodically reviewed for effectiveness 2.6. Improvements to operational guidelines are identified and acted on according to organisation requirements
3. Distribute information on operational guidelines to staff	3.1. Operational guidelines are distributed to all relevant staff 3.2. Updates and amendments are distributed as required 3.3. Feedback and interpretation requests are received and responded to according to organisation guidelines 3.4. Briefings for new staff on the guidelines are provided as part of induction procedures 3.5. Sections of guidelines relevant to clients including client rights, performance standards and complaint procedures are communicated to clients and displayed where appropriate
4. Monitor operational procedures and guidelines	4.1. Client service is monitored to ensure operational guidelines are being implemented effectively and service standards are being met 4.2. Performance of staff, systems and resources is periodically assessed against organisation guidelines and objectives 4.3. Documentation on the supervision and monitoring of operational guidelines is managed 4.4. Implementation of operational guidelines is regularly monitored for compliance with relevant legislation and codes of practice 4.5. Breaches of guidelines are identified and staff counselled where required

Required Skills

Required skills

well-developed communication skills to:

liaise with others, share information, confirm work requirements, using questioning and active listening as required

use language and concepts appropriate to cultural differences

numeracy and IT skills to:

perform calculations related to superannuation operations

access and update account records electronically

use internet information

literacy skills to read and interpret documentation from a variety of sources and record and consolidate related information

interpersonal skills to relate effectively within a team environment

data analysis and interpretation skills

project management skills

organisation skills, including the ability to plan and sequence work

customer relations and customer service skills

learning skills to maintain knowledge of changes to products and relevant legislation

judgement skills for forming recommendations in operational situations

management skills for working effectively in a constantly changing environment and supervising staff effectively

Required knowledge

superannuation organisationoperational guidelines

organisationsystems and resource requirements

relevant industry Acts, regulations and codes of practice

organisation:

administrative processes and systems

marketing and advertising processes

documentation systems including registry and library processes

human resources procedures

office information technology systems and software

Privacy Act obligations

fraud deterrence practices

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: monitor operational procedure and guidelines against organisation objectives and relevant legislation and codes of practice counsel staff when breaches in guidelines are identified identify and address factors which may affect performance of staff, systems and/or resources evaluate performance against fund requirements and form recommendations and/or make recommendations implement and monitor performance measurement systems.
Context of and specific resources for assessment	Assessment must ensure: competency is demonstrated in the context of the 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 organisation financial records access to organisation policies and procedures.
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 observing processes and procedures in workplaces verbal or written questioning on underpinning knowledge and skills evaluating samples of work accessing and validating third party reports setting and reviewing workplace business simulations or scenarios.
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.
Operational guidelines include:	data input documents feedback mechanisms instruction sheets reports service timetables/response times.
Performance measures and operational outcomes may include:	individual, team, area and/or organisation goals job role outcomes Key Performance Indicators (KPIs) performance targets service standards and targets.
Support may include:	additional expertise additional resources communication tools documentation human resource support procurement of supplies technical repairs training, coaching or mentoring.
Systems and resources may include:	administrative systems documentation systems human resources information systems job rotations resource supplies work team systems.
Communication may include:	electronic individual and group meetings verbal in writing.
Client service may be pre or post sales and may include:	complaints handling conservation activity enquiries policy changes reports timely and accurate documentation written communication.
Service standards may include:	accuracy rates completion dates data availability document presentation procedures response times staff communication.
Relevant legislation and codes of practice may include:	anti-discrimination legislation Corporations Act Family Law Legislation Amendment Superannuation Acts Financial Services Reform Act (FSRA) Income Tax Assessment Act Insurance Act Privacy Act Retirement Savings Account Act Superannuation (Resolution of Complaints) Act Superannuation (Unclaimed Moneys and Lost Members) Act Superannuation Contributions Tax (Assessment and Collection) Act (surcharge) Superannuation Guarantee (Administration) Act (SGAA) Superannuation Industry (Supervision) Act (SIS) Superannuation Industry (Supervision) Regulations.

Sectors

Unit sector

Superannuation

Employability Skills

This unit contains employability skills.

Licensing Information

Not applicable.