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Evidence Guide: FNSINC802 - Develop and build effective relationships with regulatory and industry bodies

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

 

FNSINC802 - Develop and build effective relationships with regulatory and industry bodies

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

Develop organisational strategy for building effective relationships with regulatory and industry bodies

  1. Analyse legislative requirements and compliance and reporting obligations for all regulatory bodies relating to organisational activities
  2. Identify and determine strategic benefits for the organisation in fostering relationships with relevant industry bodies
  3. Evaluate organisational protocols, policies and procedures for interacting with regulatory and industry bodies
  4. Monitor and assess the effectiveness of interactions and relationships with regulatory and industry bodies
Analyse legislative requirements and compliance and reporting obligations for all regulatory bodies relating to organisational activities

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and determine strategic benefits for the organisation in fostering relationships with relevant industry bodies

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Evaluate organisational protocols, policies and procedures for interacting with regulatory and industry bodies

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Monitor and assess the effectiveness of interactions and relationships with regulatory and industry bodies

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Implement effective reporting systems

  1. Establish reporting systems that deliver information and data that meets regulatory body requirements
  2. Establish access controls, including delegated authorities, for reporting information and data to regulatory bodies
  3. Manage and implement organisational policies and procedures for reporting information and responding to feedback on organisational performance and enforcement action, where relevant
  4. Ensure regulator is advised promptly of any difficulties in fulfilling reporting or compliance requirements
  5. Implement procedures to review vulnerabilities within reports and data quality to ensure accuracy of information and compliance with requirements
  6. Review regulatory and industry body benchmark data and take action to address issues relevant to the organisation
Establish reporting systems that deliver information and data that meets regulatory body requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish access controls, including delegated authorities, for reporting information and data to regulatory bodies

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Manage and implement organisational policies and procedures for reporting information and responding to feedback on organisational performance and enforcement action, where relevant

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure regulator is advised promptly of any difficulties in fulfilling reporting or compliance requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Implement procedures to review vulnerabilities within reports and data quality to ensure accuracy of information and compliance with requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review regulatory and industry body benchmark data and take action to address issues relevant to the organisation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Manage relationships and communications with regulators and industry bodies

  1. Oversee processes for managing communications with regulatory and industry bodies ensuring procedures for checking correct authority and controls are implemented
  2. Foster relationships and participate in collaborative communities and partnerships
  3. Contribute to the development of industry codes of conduct and guidelines and to industry body responses to regulatory consultations
  4. Demonstrate a high standard of personal performance and conduct in professional activities and project a positive image of the organisation
  5. Manage reporting to senior management and/or Board about regulatory or industry activity
Oversee processes for managing communications with regulatory and industry bodies ensuring procedures for checking correct authority and controls are implemented

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Foster relationships and participate in collaborative communities and partnerships

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Contribute to the development of industry codes of conduct and guidelines and to industry body responses to regulatory consultations

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Demonstrate a high standard of personal performance and conduct in professional activities and project a positive image of the organisation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Manage reporting to senior management and/or Board about regulatory or industry activity

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. Develop organisational strategy for building effective relationships with regulatory and industry bodies

1.1 Analyse legislative requirements and compliance and reporting obligations for all regulatory bodies relating to organisational activities

1.2 Identify and determine strategic benefits for the organisation in fostering relationships with relevant industry bodies

1.3 Evaluate organisational protocols, policies and procedures for interacting with regulatory and industry bodies

1.4 Monitor and assess the effectiveness of interactions and relationships with regulatory and industry bodies

2. Implement effective reporting systems

2.1 Establish reporting systems that deliver information and data that meets regulatory body requirements

2.2 Establish access controls, including delegated authorities, for reporting information and data to regulatory bodies

2.3 Manage and implement organisational policies and procedures for reporting information and responding to feedback on organisational performance and enforcement action, where relevant

2.4 Ensure regulator is advised promptly of any difficulties in fulfilling reporting or compliance requirements

2.5 Implement procedures to review vulnerabilities within reports and data quality to ensure accuracy of information and compliance with requirements

2.6 Review regulatory and industry body benchmark data and take action to address issues relevant to the organisation

3. Manage relationships and communications with regulators and industry bodies

3.1 Oversee processes for managing communications with regulatory and industry bodies ensuring procedures for checking correct authority and controls are implemented

3.2 Foster relationships and participate in collaborative communities and partnerships

3.3 Contribute to the development of industry codes of conduct and guidelines and to industry body responses to regulatory consultations

3.4 Demonstrate a high standard of personal performance and conduct in professional activities and project a positive image of the organisation

3.5 Manage reporting to senior management and/or Board about regulatory or industry activity

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. Develop organisational strategy for building effective relationships with regulatory and industry bodies

1.1 Analyse legislative requirements and compliance and reporting obligations for all regulatory bodies relating to organisational activities

1.2 Identify and determine strategic benefits for the organisation in fostering relationships with relevant industry bodies

1.3 Evaluate organisational protocols, policies and procedures for interacting with regulatory and industry bodies

1.4 Monitor and assess the effectiveness of interactions and relationships with regulatory and industry bodies

2. Implement effective reporting systems

2.1 Establish reporting systems that deliver information and data that meets regulatory body requirements

2.2 Establish access controls, including delegated authorities, for reporting information and data to regulatory bodies

2.3 Manage and implement organisational policies and procedures for reporting information and responding to feedback on organisational performance and enforcement action, where relevant

2.4 Ensure regulator is advised promptly of any difficulties in fulfilling reporting or compliance requirements

2.5 Implement procedures to review vulnerabilities within reports and data quality to ensure accuracy of information and compliance with requirements

2.6 Review regulatory and industry body benchmark data and take action to address issues relevant to the organisation

3. Manage relationships and communications with regulators and industry bodies

3.1 Oversee processes for managing communications with regulatory and industry bodies ensuring procedures for checking correct authority and controls are implemented

3.2 Foster relationships and participate in collaborative communities and partnerships

3.3 Contribute to the development of industry codes of conduct and guidelines and to industry body responses to regulatory consultations

3.4 Demonstrate a high standard of personal performance and conduct in professional activities and project a positive image of the organisation

3.5 Manage reporting to senior management and/or Board about regulatory or industry activity

Evidence of the ability to:

develop an organisational strategy to build effective reporting and communication relationships with relevant regulatory and industry bodies

implement organisational processes, policies and procedures to affect the strategy

manage ongoing reporting and communication activities with regulatory and industry bodies.

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:

outline the legislative requirements and regulatory bodies relevant to the organisation's activities

explain the external context relevant to the regulatory requirements and regulator including social, political, economic and technological developments

describe various industry bodies relevant to the organisation including their role within the industry and the benefits they offer the organisation

outline the organisation's strategy and objectives in developing relationships with regulatory and industry bodies and explain how organisational policies and procedures support these

explain techniques that foster collaborative relationships and partnerships

explain processes and procedures for responding to regulatory and industry bodies about organisational performance in managing regulatory risk and addressing recommendations in relation to enforcement action or periodic industry specific feedback and guidance

outline reporting requirements for relevant regulatory and industry bodies, methods for collating information and associated security and access controls required

outline organisational and industry consequences for poor performance or non-compliance and breaches in reporting and communication requirements

explain techniques and stages in managing and implementing continuous improvement in an organisation.