Assessor Resource

FNSORG603
Establish and prepare operational guidelines in a financial services organisation

Assessment tool

Version 1.0
Issue Date: June 2024


This unit describes the skills and knowledge required to establish strategies for delivery of services, and define, implement and monitor effective, compliant operational guidelines and procedures.

It applies to individuals in senior roles who may use a range of analytical and managerial techniques to establish operational information in their workplace.

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. Establish scope of organisation

1.1 Determine and document scope of organisation, including any service specialisations and restrictions, in operational guidelines

1.2 Identify and document key external relationships and intended client groups in operational guidelines

2. Identify legislation, regulations and codes of practice relevant to organisation

2.1 Match scope of organisation to legislation and regulations, and identify and document compliance issues and procedures

2.2 Match scope of organisation to industry codes of practice, and incorporate compliance issues and procedures into operational guidelines

2.3 Establish ethical procedures and standards for organisation, and incorporate them into guidelines

3. Establish strategies for delivery of services

3.1 Establish key positions, personnel, job descriptions and authorities for organisation and document them in operational guidelines

3.2 Establish and document administrative procedures, including information flow requirements, in operational guidelines

3.3 Identify and incorporate internal and external resources available to assist in delivery of services to clients into operational guidelines

4. Arrange for distribution of information on operational guidelines

4.1 Establish mechanisms for distributing updates and amendments, and opportunities for feedback and interpretation requests

4.2 Distribute operational guidelines to all relevant staff, including briefings for new staff as part of induction procedures

4.3 Communicate relevant sections of guidelines to clients, including client rights, performance standards and complaint procedures, and display information where appropriate

5. Implement and monitor operational guidelines

5.1 Establish client service to meet requirements in operational guidelines

5.2 Establish reporting and monitoring procedures for range of services including research, client service, transactions, collection and processing of payments and receipts, legislative and regulatory reporting requirements, ongoing services, and professional and ethical practices

5.3 Identify breaches in operational guidelines and take appropriate actions

Evidence of the ability to:

incorporate key requirements of relevant legislation and regulations in operational guidelines

distribute information on operational guidelines

establish strategies for delivery of services

monitor and review operational guidelines, and address factors which may affect client service performance.

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:

explain the compliance requirements of:

administrative processes and systems

marketing and advertising techniques and tools

outline key features of information and documentation systems and processes

explain the requirements of office IT systems and software in financial services

outline relevant organisational financial services industry products

explain the requirements of human resource procedures

identify and explain the intention of relevant legislation, regulations and codes of practice.

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

common office equipment, technology, software and consumables

financial services product information

financial information systems and data.

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. Establish scope of organisation

1.1 Determine and document scope of organisation, including any service specialisations and restrictions, in operational guidelines

1.2 Identify and document key external relationships and intended client groups in operational guidelines

2. Identify legislation, regulations and codes of practice relevant to organisation

2.1 Match scope of organisation to legislation and regulations, and identify and document compliance issues and procedures

2.2 Match scope of organisation to industry codes of practice, and incorporate compliance issues and procedures into operational guidelines

2.3 Establish ethical procedures and standards for organisation, and incorporate them into guidelines

3. Establish strategies for delivery of services

3.1 Establish key positions, personnel, job descriptions and authorities for organisation and document them in operational guidelines

3.2 Establish and document administrative procedures, including information flow requirements, in operational guidelines

3.3 Identify and incorporate internal and external resources available to assist in delivery of services to clients into operational guidelines

4. Arrange for distribution of information on operational guidelines

4.1 Establish mechanisms for distributing updates and amendments, and opportunities for feedback and interpretation requests

4.2 Distribute operational guidelines to all relevant staff, including briefings for new staff as part of induction procedures

4.3 Communicate relevant sections of guidelines to clients, including client rights, performance standards and complaint procedures, and display information where appropriate

5. Implement and monitor operational guidelines

5.1 Establish client service to meet requirements in operational guidelines

5.2 Establish reporting and monitoring procedures for range of services including research, client service, transactions, collection and processing of payments and receipts, legislative and regulatory reporting requirements, ongoing services, and professional and ethical practices

5.3 Identify breaches in operational guidelines and take appropriate actions

Evidence of the ability to:

incorporate key requirements of relevant legislation and regulations in operational guidelines

distribute information on operational guidelines

establish strategies for delivery of services

monitor and review operational guidelines, and address factors which may affect client service performance.

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:

explain the compliance requirements of:

administrative processes and systems

marketing and advertising techniques and tools

outline key features of information and documentation systems and processes

explain the requirements of office IT systems and software in financial services

outline relevant organisational financial services industry products

explain the requirements of human resource procedures

identify and explain the intention of relevant legislation, regulations and codes of practice.

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

common office equipment, technology, software and consumables

financial services product information

financial information systems and data.

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
Determine and document scope of organisation, including any service specialisations and restrictions, in operational guidelines 
Identify and document key external relationships and intended client groups in operational guidelines 
Match scope of organisation to legislation and regulations, and identify and document compliance issues and procedures 
Match scope of organisation to industry codes of practice, and incorporate compliance issues and procedures into operational guidelines 
Establish ethical procedures and standards for organisation, and incorporate them into guidelines 
Establish key positions, personnel, job descriptions and authorities for organisation and document them in operational guidelines 
Establish and document administrative procedures, including information flow requirements, in operational guidelines 
Identify and incorporate internal and external resources available to assist in delivery of services to clients into operational guidelines 
Establish mechanisms for distributing updates and amendments, and opportunities for feedback and interpretation requests 
Distribute operational guidelines to all relevant staff, including briefings for new staff as part of induction procedures 
Communicate relevant sections of guidelines to clients, including client rights, performance standards and complaint procedures, and display information where appropriate 
Establish client service to meet requirements in operational guidelines 
Establish reporting and monitoring procedures for range of services including research, client service, transactions, collection and processing of payments and receipts, legislative and regulatory reporting requirements, ongoing services, and professional and ethical practices 
Identify breaches in operational guidelines and take appropriate actions 

Forms

Assessment Cover Sheet

FNSORG603 - Establish and prepare operational guidelines in a financial services organisation
Assessment task 1: [title]

Student name:

Student ID:

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

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:


Assessment Record Sheet

FNSORG603 - Establish and prepare operational guidelines in a financial services organisation

Student name:

Student ID:

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

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: