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. Assist trustee to establish scope for outsourced services | 1.1 Conduct review to determine extent to which selected activities are being conducted by trustees or by outsourced services 1.2 Identify activities within fund that can, or are required to, be outsourced 1.3 Identify scope of possible outsourced services 1.4 Identify legislative requirements relating to required services 1.5 Make recommendation and/or decision on scope of outsourced services according to fund requirements 1.6 Establish engagement criteria in negotiation with trustee |
2. Assist trustee to establish performance criteria for outsourced services | 2.1 Define and document scope of expertise required from outsourced service 2.2 Establish and document performance standards for provision of monitoring service standards and performance outcomes of outsourced service providers 2.3 Establish and document monitoring and measuring processes for performance outcomes of outsourced services 2.4 Establish and document reporting processes of outsourced services 2.5 Prepare briefing documents to supply to outsourced service providers |
3. Assist trustee to select and engage outsourced suppliers | 3.1 Assist trustee to select suppliers of outsourced services against established criteria 3.2 Formally engage outsourced suppliers following operational guidelines 3.3 Brief outsourced suppliers on required service performance standards to ensure clarity of requirements 3.4 Confirm with trustee outsourced services in place and working implications |
4. Assist trustee to monitor performance outcomes of outsourced services | 4.1 Evaluate performance outcomes of outsourced services against performance standards 4.2 Establish further review periods, to revaluate as necessary 4.3 Negotiate required changes in services and document accurately 4.4 Document and communicate supplier performance to trustee 4.5 Disengage outsourced services as required following operational guidelines |
Evidence of the ability to:
establish and document the scope, criteria and performance standards for outsourced services
evaluate, select and engage outsourced service providers
assess outsourced service provider performance, and evaluate and renegotiate performance as required
review and amend service agreement contracts as required.
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 communication, documentation and procedure requirements for engaging with specialist services
describe the key features, compliance and reporting requirements of the Superannuation Industry (Supervision) (SIS) Act and taxation, corporations and other relevant legislation
identify the key features of industry codes of practice, relevant legislation and organisational policy and guidelines
explain performance management procedures
discuss the relationship between actuary, auditor and trustee
explain the scope, role and responsibilities of outsourced service providers.
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the self-managed superannuation field of work and include access to:
organisational financial records
organisational policy and procedures
industry software packages.
Assessors must satisfy NVR/AQTF assessor requirements.