Application
This unit describes the skills and knowledge required to obtain specialist advice, manage investment compliance requirements, implement investment strategies and monitor, report and evaluate investment strategies, integrating the fund’s investment strategies into fund administration operations.
It applies to individuals who use specialised industry knowledge and manage and report on operations involving complex strategic investment activity.
Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
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. Obtain specialist investment advice | 1.1 Source and retain specialist investment expertise required by organisation 1.2 Receive performance benchmarks from trustee 1.3 Provide specialists with information required to determine strategic options for investment 1.4 Establish investment procedure 1.5 Facilitate development of investment strategy |
2. Manage investment compliance requirements | 2.1 Identify legislation, regulations and compliance issues relating to investment 2.2 Assess investment strategy for compliance 2.3 Incorporate compliance issues and procedures into investment strategy 2.4 Establish performance outcomes 2.5 Undertake monitoring of compliance on ongoing basis |
3. Implement investment strategy | 3.1 Liaise with custodian and trustees to determine procedure to implement investment strategy 3.2 Manage transfer of funds to investment manager 3.3 Liaise with banks, custodians and trustees to facilitate strategy 3.4 Implement direct fund investments |
4. Monitor and report on investment strategy | 4.1 Prepare regular investment reports for trustee and investment managers, as required 4.2 Manage documentation of investment transactions 4.3 Monitor investment performance and report as required 4.4 Monitor compliance of investment strategy against relevant legislation, regulations and prudential standards |
5. Evaluate investment strategy | 5.1 Review and assess investment performance 5.2 Evaluate performance against trustee set benchmarks 5.3 Compare performance with industry indices and market conditions 5.4 Provide performance evaluation to trustee |
Evidence of Performance
Evidence of the ability to:
access relevant information and sources of specialist investment advice as required
manage investment compliance requirements and implement investment strategies
liaise with custodian and trustees to determine procedure to implement investment strategy and monitor, evaluate and report on the investment strategy.
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:
explain superannuation investment processes according to the needs indicated in trustee set benchmarks
discuss options for superannuation strategies
describe the key features of relevant legislation, regulations and codes of practice
outline the key features of administrative processes and systems, and documentation requirements for investment strategy development
describe a range of specialist investment services and investment vehicles
outline the key requirements of superannuation industry legislation for trustees and investment managers
outline contractual arrangements for specialist services
discuss risk management strategies.
Assessment Conditions
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the superannuation field of work and include access to:
common office equipment, technology, software and consumables
organisational financial records
organisational policy and procedures
legislation and regulatory information.
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 | 2.1, 2.2, 4.3, 4.4, 5.1 | Researches, analyses and evaluates complex textual information and financial and/or numerical data from a range of sources Incorporates specific aspects of information to manage and improve requirements |
Writing | 1.4, 2.3, 3.1, 3.3, 4.1-4.3, 5.4 | Uses language, concepts and terminology appropriate to the audience and purpose to convey and clarify explicit information and requirements Accurately documents high level, complex information following organisational procedures and protocols |
Oral Communication | 3.1, 3.3, 4.3 | Clearly and effectively presents complex information and explains requirements using language, tone and pace appropriate to the audience and purpose |
Numeracy | 1.2, 1.5, 2.2, 2.4, 3.2, 3.4, 4.3, 5.2, 5.3 | Performs calculations and uses a range of mathematical problem-solving techniques to analyse financial data and trends, benchmarks and performance indicators |
Navigate the world of work | 1.4, 1.5, 2.1-2.5, 4.4, 5.2, 5.3 | Develops and implements strategies that ensure organisational policy, procedures and regulatory requirements are being met Monitors and reviews the organisation’s policy, procedures and adherence to legislative requirements |
Interact with others | 1.1-1.3, 3.1, 3.3, 5.4 | Selects and uses appropriate conventions and protocols when communicating with a range of stakeholders Uses a variety of relevant communication tools and strategies in building and maintaining effective working relationships |
Get the work done | 1.1, 1.2, 1.4, 2.1-2.5, 3.2, 3.4, 4.1-4.4, 5.1-5.3 | Plans strategic priorities and outcomes within a flexible, efficient and effective context in a diverse environment exposed to competing demands Gathers and analyses data and seeks feedback to improve plans and processes Makes high impact decisions in a complex and diverse environment, using input from a range of sources Addresses complex problems involving multiple variables, using formal analytical and lateral thinking techniques, experience and knowledge Uses a range of digitally based technologies to enter, access or update information to achieve required outcomes |
Sectors
Superannuation