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Evidence Guide: DEFFIN002 - Perform strategic financial management in the public sector environment

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

DEFFIN002 - Perform strategic financial management in the public sector environment

What evidence can you provide to prove your understanding of each of the following citeria?

Practice subject matter expertise

  1. Research current issues and trends affecting the organisation
  2. Provide input into the development of financial management policies
  3. Provide advice on complex financial management issues
  4. Oversee and guide financial management activities
Research current issues and trends affecting the organisation

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Provide input into the development of financial management policies

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Provide advice on complex financial management issues

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Oversee and guide financial management activities

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Establish financial management strategies

  1. Identify and analyse organisational priorities and stakeholder needs
  2. Develop a plan outlining expected strategies and outcomes
  3. Develop key performance indicators or targets, timelines and reporting requirements
  4. Implement processes to ensure that organisational strategies are adhered to
  5. Identify and document factors that may affect achievement of objectives and targets
Identify and analyse organisational priorities and stakeholder needs

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Develop a plan outlining expected strategies and outcomes

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Develop key performance indicators or targets, timelines and reporting requirements

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Implement processes to ensure that organisational strategies are adhered to

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Identify and document factors that may affect achievement of objectives and targets

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Manage risks

  1. Identify potential risks to organisational financial management
  2. Analyse risks and determine likelihood and potential consequence
  3. Implement risk management strategies
  4. Monitor risk outcomes
Identify potential risks to organisational financial management

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Analyse risks and determine likelihood and potential consequence

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Implement risk management strategies

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Monitor risk outcomes

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENTS

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1

Practice subject matter expertise

1.1

Research current issues and trends affecting the organisation

1.2

Provide input into the development of financial management policies

1.3

Provide advice on complex financial management issues

1.4

Oversee and guide financial management activities

2

Establish financial management strategies

2.1

Identify and analyse organisational priorities and stakeholder needs

2.2

Develop a plan outlining expected strategies and outcomes

2.3

Develop key performance indicators or targets, timelines and reporting requirements

2.4

Implement processes to ensure that organisational strategies are adhered to

2.5

Identify and document factors that may affect achievement of objectives and targets

3

Manage risks

3.1

Identify potential risks to organisational financial management

3.2

Analyse risks and determine likelihood and potential consequence

3.3

Implement risk management strategies

3.4

Monitor risk outcomes

Required Skills and Knowledge

ELEMENTS

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1

Practice subject matter expertise

1.1

Research current issues and trends affecting the organisation

1.2

Provide input into the development of financial management policies

1.3

Provide advice on complex financial management issues

1.4

Oversee and guide financial management activities

2

Establish financial management strategies

2.1

Identify and analyse organisational priorities and stakeholder needs

2.2

Develop a plan outlining expected strategies and outcomes

2.3

Develop key performance indicators or targets, timelines and reporting requirements

2.4

Implement processes to ensure that organisational strategies are adhered to

2.5

Identify and document factors that may affect achievement of objectives and targets

3

Manage risks

3.1

Identify potential risks to organisational financial management

3.2

Analyse risks and determine likelihood and potential consequence

3.3

Implement risk management strategies

3.4

Monitor risk outcomes

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria on at least one occasion and include:

analysing data

consulting and providing advice on complex issues

identifying risks and relevant risk control measures

implementing policy and procedural changes

managing stakeholder relationships

researching complex issues.

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria and include knowledge of:

Commonwealth policies impacting on candidate’s role

key internal and external stakeholders

legislation, policies and procedures impacting on candidate’s role

strategic priorities and activities affecting the organisation

the organisation’s financial management policy structure.

Range Statement

Range is restricted to essential operating conditions and any other variables essential to the work environment.

Non-essential conditions may be found in the Companion Volume Implementation Guide.