Assessor Resource

FNSISV516
Allocate authorities and guidelines for distribution

Assessment tool

Version 1.0
Issue Date: May 2024


This unit describes the skills and knowledge required to determine and allocate distribution authorities and guidelines.

It applies to individuals working in job roles involving specialist knowledge and functions in a range of insurance sectors and may be applied within organisations of various sizes and across a range of client bases. It encompasses application of criteria for selection of distribution authorities, reaching agreement, monitoring performance and evaluating the effectiveness of the agreement.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)


Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1. Provide feedback on and/or confirm authorities and guidelines

1.1 Read and interpret draft authorities and guidelines

1.2 Identify practical application of authorities and guidelines through market testing to determine need for variance

1.3 Negotiate final form of authorities and guidelines with relevant parties to ensure they accommodate variations in workplace requirements and are within organisational policy and procedures

1.4 Obtain authorised authorities and guidelines, and confirm in writing

2. Determine allocation of authorities and guidelines

2.1 Determine criteria to be used as basis for allocation

2.2 Ensure allocation is consistent with existing or updated distribution agreements

2.3 Determine allocations within industry code of practice and relevant legislative requirements

2.4 Ensure allocation enables achievement of desired result in accordance with business plan

3. Negotiate variations to allocated authorities and guidelines

3.1 Negotiate variations where opportunities to maximise or adjust business returns are identified

3.2 Base negotiation on all relevant information

3.3 Ensure outcome of negotiation is accepted by parties

4. Allocate authorities and guidelines

4.1 Advise allocations in writing in clear, concise and timely manner

4.2 Provide training as appropriate and assess its effectiveness

4.3 Record allocation of authorities and guidelines promptly and accurately to ensure records are current

4.4 Verify understanding of authorities and guidelines, and record where appropriate

4.5 Update variations to authorities and guidelines in accordance with organisational policy to ensure currency of operational procedures

4.6 Undertake implementation procedures within relevant industry code of practice and legislative requirements

5. Monitor and review authorities and guidelines compliance

5.1 Check submissions received for compliance with authorities and guidelines

5.2 Monitor business trends and compliance variations to determine effectiveness of authorities and guidelines

5.3 Rectify non-compliance with authorities and guidelines promptly to maintain business plan objectives

6. Evaluate effectiveness of authorities and guidelines

6.1 Identify market trends to ensure evaluation is based on reliable information

6.2 Assess trends to quantify impact on expected business

6.3 Revise allocations in accordance with changes to code of practice, legislative and organisational policy requirements

Evidence of the ability to:

accurately apply the criteria for selection of distribution authorities

negotiate and determine the allocation of authorities

document and implement changes to allocated authorities

monitor, review and evaluate the effectiveness of the distribution authorities based on organisational goals and policies

rectify non-compliance issues with distribution authorities

conduct market testing to identify optimal choices of distribution authorities.

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 relevant organisational products and services

explain organisational distribution requirements and channels

outline organisational income and expenditure forecasting

describe organisational marketing, administration, systems, performance measures and training needs

explain organisational resources and budgeting

outline key features of relevant legislation, regulatory guidelines and industry sector codes of practice.

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the insurance services field of work and include access to:

organisational records

organisational policy, procedures, legislation and regulations as they relate to contracts of insurance

a range of common technology and software.

Assessors must satisfy NVR/AQTF assessor requirements.

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1. Provide feedback on and/or confirm authorities and guidelines

1.1 Read and interpret draft authorities and guidelines

1.2 Identify practical application of authorities and guidelines through market testing to determine need for variance

1.3 Negotiate final form of authorities and guidelines with relevant parties to ensure they accommodate variations in workplace requirements and are within organisational policy and procedures

1.4 Obtain authorised authorities and guidelines, and confirm in writing

2. Determine allocation of authorities and guidelines

2.1 Determine criteria to be used as basis for allocation

2.2 Ensure allocation is consistent with existing or updated distribution agreements

2.3 Determine allocations within industry code of practice and relevant legislative requirements

2.4 Ensure allocation enables achievement of desired result in accordance with business plan

3. Negotiate variations to allocated authorities and guidelines

3.1 Negotiate variations where opportunities to maximise or adjust business returns are identified

3.2 Base negotiation on all relevant information

3.3 Ensure outcome of negotiation is accepted by parties

4. Allocate authorities and guidelines

4.1 Advise allocations in writing in clear, concise and timely manner

4.2 Provide training as appropriate and assess its effectiveness

4.3 Record allocation of authorities and guidelines promptly and accurately to ensure records are current

4.4 Verify understanding of authorities and guidelines, and record where appropriate

4.5 Update variations to authorities and guidelines in accordance with organisational policy to ensure currency of operational procedures

4.6 Undertake implementation procedures within relevant industry code of practice and legislative requirements

5. Monitor and review authorities and guidelines compliance

5.1 Check submissions received for compliance with authorities and guidelines

5.2 Monitor business trends and compliance variations to determine effectiveness of authorities and guidelines

5.3 Rectify non-compliance with authorities and guidelines promptly to maintain business plan objectives

6. Evaluate effectiveness of authorities and guidelines

6.1 Identify market trends to ensure evaluation is based on reliable information

6.2 Assess trends to quantify impact on expected business

6.3 Revise allocations in accordance with changes to code of practice, legislative and organisational policy requirements

Evidence of the ability to:

accurately apply the criteria for selection of distribution authorities

negotiate and determine the allocation of authorities

document and implement changes to allocated authorities

monitor, review and evaluate the effectiveness of the distribution authorities based on organisational goals and policies

rectify non-compliance issues with distribution authorities

conduct market testing to identify optimal choices of distribution authorities.

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 relevant organisational products and services

explain organisational distribution requirements and channels

outline organisational income and expenditure forecasting

describe organisational marketing, administration, systems, performance measures and training needs

explain organisational resources and budgeting

outline key features of relevant legislation, regulatory guidelines and industry sector codes of practice.

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the insurance services field of work and include access to:

organisational records

organisational policy, procedures, legislation and regulations as they relate to contracts of insurance

a range of common technology and software.

Assessors must satisfy NVR/AQTF assessor requirements.
Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Read and interpret draft authorities and guidelines 
Identify practical application of authorities and guidelines through market testing to determine need for variance 
Negotiate final form of authorities and guidelines with relevant parties to ensure they accommodate variations in workplace requirements and are within organisational policy and procedures 
Obtain authorised authorities and guidelines, and confirm in writing 
Determine criteria to be used as basis for allocation 
Ensure allocation is consistent with existing or updated distribution agreements 
Determine allocations within industry code of practice and relevant legislative requirements 
Ensure allocation enables achievement of desired result in accordance with business plan 
Negotiate variations where opportunities to maximise or adjust business returns are identified 
Base negotiation on all relevant information 
Ensure outcome of negotiation is accepted by parties 
Advise allocations in writing in clear, concise and timely manner 
Provide training as appropriate and assess its effectiveness 
Record allocation of authorities and guidelines promptly and accurately to ensure records are current 
Verify understanding of authorities and guidelines, and record where appropriate 
Update variations to authorities and guidelines in accordance with organisational policy to ensure currency of operational procedures 
Undertake implementation procedures within relevant industry code of practice and legislative requirements 
Check submissions received for compliance with authorities and guidelines 
Monitor business trends and compliance variations to determine effectiveness of authorities and guidelines 
Rectify non-compliance with authorities and guidelines promptly to maintain business plan objectives 
Identify market trends to ensure evaluation is based on reliable information 
Assess trends to quantify impact on expected business 
Revise allocations in accordance with changes to code of practice, legislative and organisational policy requirements 

Forms

Assessment Cover Sheet

FNSISV516 - Allocate authorities and guidelines for distribution
Assessment task 1: [title]

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I declare that the assessment tasks submitted for this unit are my own work.

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Assessment Record Sheet

FNSISV516 - Allocate authorities and guidelines for distribution

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

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Overall assessment result: Competent Not yet competent

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