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. Obtain specialist investment advice | 1.1 Source and retain specialist investment expertise required by organisation 1.2 Receive performance benchmarks from trustee 1.3 Provide specialists with information required to determine strategic options for investment 1.4 Establish investment procedure 1.5 Facilitate development of investment strategy |
2. Manage investment compliance requirements | 2.1 Identify legislation, regulations and compliance issues relating to investment 2.2 Assess investment strategy for compliance 2.3 Incorporate compliance issues and procedures into investment strategy 2.4 Establish performance outcomes 2.5 Undertake monitoring of compliance on ongoing basis |
3. Implement investment strategy | 3.1 Liaise with custodian and trustees to determine procedure to implement investment strategy 3.2 Manage transfer of funds to investment manager 3.3 Liaise with banks, custodians and trustees to facilitate strategy 3.4 Implement direct fund investments |
4. Monitor and report on investment strategy | 4.1 Prepare regular investment reports for trustee and investment managers, as required 4.2 Manage documentation of investment transactions 4.3 Monitor investment performance and report as required 4.4 Monitor compliance of investment strategy against relevant legislation, regulations and prudential standards |
5. Evaluate investment strategy | 5.1 Review and assess investment performance 5.2 Evaluate performance against trustee set benchmarks 5.3 Compare performance with industry indices and market conditions 5.4 Provide performance evaluation to trustee |
Evidence of the ability to:
access relevant information and sources of specialist investment advice as required
manage investment compliance requirements and implement investment strategies
liaise with custodian and trustees to determine procedure to implement investment strategy and monitor, evaluate and report on the investment strategy.
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 superannuation investment processes according to the needs indicated in trustee set benchmarks
discuss options for superannuation strategies
describe the key features of relevant legislation, regulations and codes of practice
outline the key features of administrative processes and systems, and documentation requirements for investment strategy development
describe a range of specialist investment services and investment vehicles
outline the key requirements of superannuation industry legislation for trustees and investment managers
outline contractual arrangements for specialist services
discuss risk management strategies.
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the superannuation field of work and include access to:
common office equipment, technology, software and consumables
organisational financial records
organisational policy and procedures
legislation and regulatory information.
Assessors must satisfy NVR/AQTF assessor requirements.