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Evidence Guide: FNSFMK504A - Complete settlement and confirmation 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

 

FNSFMK504A - Complete settlement and confirmation processes

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

Process transaction documentation

  1. Transaction documentation is received from dealer and promptly checked for accuracy and completion according to organisational guidelines
  2. Details on transaction documentation are entered into the organisation dealing system using appropriate technology
  3. Organisational records are reviewed to ensure that master agreements are in place before confirmation processes are conducted
Transaction documentation is received from dealer and promptly checked for accuracy and completion according to organisational guidelines

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Details on transaction documentation are entered into the organisation dealing system using appropriate technology

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Organisational records are reviewed to ensure that master agreements are in place before confirmation processes are conducted

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Complete confirmation processes

  1. Organisational confirmation documentation is produced and forwarded to client for approval and authorisation
  2. Authorised confirmation documentation is received by organisation and the financial transaction completed according to confirmed settlement procedures and organisational and industry requirements
  3. Confirmation documentation is forwarded to client outlining settlement exchange details
Organisational confirmation documentation is produced and forwarded to client for approval and authorisation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Authorised confirmation documentation is received by organisation and the financial transaction completed according to confirmed settlement procedures and organisational and industry requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Confirmation documentation is forwarded to client outlining settlement exchange details

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

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:

interpret and comply with organisational and industry settlement and confirmation procedures

utilise specialist settlement systems

comprehend master agreement instructions.

Context of and specific resources for assessment

Assessment must ensure:

competency is demonstrated in the context of the financial services 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 an integrated financial software system and data

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

verbal or written questioning on underpinning knowledge and skills

evaluating samples of work

accessing and validating third party reports.

Guidance information for assessment

Required Skills and Knowledge

Required skills

communication skills to:

determine and confirm work requirements, using questioning and active listening as required

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

well-developed numeracy and IT skills to:

check transaction calculations

access and use appropriate software such as specialist organisational trading systems, accounting software, spreadsheets and databases

access internet information

literacy skills to read and interpret organisational and industry settlement procedures

sound judgement skills for making decisions in operational situations

organisational skills, including the ability to plan and sequence work

Required knowledge

organisational and industry confirmation systems and procedures

organisational and industry settlement systems and procedures

organisational policies and procedures

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.

Transaction documentation may include:

dealer slips.

Clients may include:

companies and organisations

members of the public

shareholders.

Settlement exchange details may include:

counterparty detailer

deal number

exchange amounts and currencies

exchange rates

floating rate

how settlement is taking place

transaction date

value date.