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Evidence Guide: FNSSUP517 - Review performance of superannuation funds against regulatory and contractual requirements

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

 

FNSSUP517 - Review performance of superannuation funds against regulatory and contractual requirements

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

Establish superannuation fund performance requirements

  1. Identify performance requirements according to operating guidelines and legislative requirements
  2. Document performance requirements
Identify performance requirements according to operating guidelines and legislative requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Document performance requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop and implement systems and procedures to meet requirements

  1. Prepare action plans to meet requirements
  2. Implement applicable operational guidelines and organisational policies and procedures
  3. Develop and document contingency plans to ensure requirements are met in extraordinary situations according to organisational policies and procedures
Prepare action plans to meet requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Implement applicable operational guidelines and organisational policies and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop and document contingency plans to ensure requirements are met in extraordinary situations according to organisational policies and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Monitor compliance with required performance

  1. Review regulatory and contractual performance requirements against superannuation fund and confirm compliance with organisational policies and procedures
  2. Update procedures, guidelines and policies in response to changed regulatory, legislative, organisational policy changes and performance variation
Review regulatory and contractual performance requirements against superannuation fund and confirm compliance with organisational policies and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Update procedures, guidelines and policies in response to changed regulatory, legislative, organisational policy changes and performance variation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Report and advise on required changes

  1. Document performance reviews
  2. Identify anomalies and variations and document according to organisational policies and procedures
  3. Report anomalies and variations to required stakeholders within required timeframes
  4. Support advice and recommendations for change with action plans
Document performance reviews

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify anomalies and variations and document according to organisational policies and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Report anomalies and variations to required stakeholders within required timeframes

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Support advice and recommendations for change with action plans

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Required Skills and Knowledge

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

review compliance of a superannuation fund with regulatory and contractual requirements on at least one occasion.

In the course of the above, the candidate must:

identify performance requirements, and implement systems and procedures to meet those requirements

report and advise on required changes.

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

regulatory and contractual requirements of superannuation industry supervision (SIS) legislation

organisational policies and procedures relating to reviewing compliance requirements of superannuation fund

taxation obligations relevant to regulatory and contractual requirements

organisational performance, products and procedures relating to compliance with regulatory and contractual requirements

principles of contingency management

customer analysis and service focus within the industry or organisation

types of performance reviews

superannuation systems and procedures relating to regulatory and contractual requirements.