Required skills

communication skills to

determine and confirm customer requirements using questioning and active listening as required

provide relevant responses to customer queries on foreign currency transactions

liaise with others share information listen and understand

use language and concepts appropriate to cultural differences

numeracy and IT skills to

make basic financial transaction calculations

access and use computerbased transaction systems

access and use internet information such as currency exchange rates

problem solving skills to address customer service issues

literacy skills to read documents and complete forms and transaction records accurately

organisational skills including the ability to plan and sequence work

teamwork skills to work cooperatively with others

selfmanagement skills for complying with procedural requirements

learning skills to maintain knowledge of changes to currency exchange process and procedures

Required knowledge

industry codes of practice including

Privacy Act

Consumer Credit Code

Code of Banking Practice

AntiMoney Laundering and Counter Terrorism Financing Acts

organisation policies and procedures in regard to foreign currency transactions

relevant fees and charges for foreign currency transactions

relevant legislation and statutory requirements including Financial Transaction Reports Act FTRA

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria required skills and knowledge range statement and the Assessment Guidelines for the Training Package

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the ability to

undertake a range of foreign currency transactions effectively and accurately completing relevant checks documentation and records

follow organisational procedures when conducting foreign currency transactions especially to ensure that unacceptable risks are not taken

Context of and specific resources for assessment

Assessment must ensure

competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment

access to and the use of a range of common office equipment technology software and consumables

access to foreign exchange rates systems and current information

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge The following examples in combination are appropriate for this unit

evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency

observing processes and procedures in workplaces

verbal or written questioning on underpinning knowledge and skills

accessing and validating third party reports

Guidance information for assessment

Foreign currency transactions may include:

The customer may be:

Relevant information to be collected may include:

Cleared funds refers to:

Significant cash transactions are: