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Evidence Guide: FNSFMK504 - Complete confirmation and settlement processes

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

 

FNSFMK504 - Complete confirmation and settlement processes

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

Process transaction documentation

  1. Check transaction documentation received from dealer promptly for accuracy and completion according to organisational guidelines
  2. Enter details on transaction documentation into organisational dealing system using appropriate technology
  3. Review organisational records to ensure that master agreements are in place before confirmation processes are conducted
Check transaction documentation received from dealer promptly for accuracy and completion according to organisational guidelines

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Enter details on transaction documentation into organisational dealing system using appropriate technology

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review organisational records to ensure that master agreements are in place before confirmation processes are conducted

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Complete confirmation processes

  1. Produce and forward organisational confirmation documentation to client for approval and authorisation
  2. Receive authorised confirmation documentation and complete financial transaction according to confirmed settlement procedures and organisational and industry requirements
  3. Forward confirmation documentation to client outlining settlement exchange details
Produce and forward organisational confirmation documentation to client for approval and authorisation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Receive authorised confirmation documentation and complete financial transaction according to confirmed settlement procedures and organisational and industry requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Forward confirmation documentation to client outlining settlement exchange details

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1. Process transaction documentation

1.1 Check transaction documentation received from dealer promptly for accuracy and completion according to organisational guidelines

1.2 Enter details on transaction documentation into organisational dealing system using appropriate technology

1.3 Review organisational records to ensure that master agreements are in place before confirmation processes are conducted

2. Complete confirmation processes

2.1 Produce and forward organisational confirmation documentation to client for approval and authorisation

2.2 Receive authorised confirmation documentation and complete financial transaction according to confirmed settlement procedures and organisational and industry requirements

2.3 Forward confirmation documentation to client outlining settlement exchange details

Required Skills and Knowledge

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1. Process transaction documentation

1.1 Check transaction documentation received from dealer promptly for accuracy and completion according to organisational guidelines

1.2 Enter details on transaction documentation into organisational dealing system using appropriate technology

1.3 Review organisational records to ensure that master agreements are in place before confirmation processes are conducted

2. Complete confirmation processes

2.1 Produce and forward organisational confirmation documentation to client for approval and authorisation

2.2 Receive authorised confirmation documentation and complete financial transaction according to confirmed settlement procedures and organisational and industry requirements

2.3 Forward confirmation documentation to client outlining settlement exchange details

Evidence of the ability to:

interpret and comply with organisational and industry settlement and confirmation procedures

use transaction processing systems

process transaction documentation

complete confirmation processes.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must: :

describe the key features and processes relating to master agreement instructions

describe the key features of:

organisational and industry confirmation systems and procedures

organisational and industry settlement systems and procedures

organisational policy and procedures.