Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners

FNSSMS505 Mapping and Delivery Guide
Support trustee in the selection and performance monitoring of outsourced services

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSSMS505 - Support trustee in the selection and performance monitoring of outsourced services
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to assist self-managed superannuation fund trustees (the client) in establishing a scope and criteria for outsourced services, selecting and engaging outsourced suppliers, and monitoring the performance of outsourced services. It does not require expertise in the functions of outsourced service providers.It applies to individuals who use research and organisational skills to plan and monitor outsourced or specialist services.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.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.

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.
Prerequisites/co-requisites
Competency Field
Development and validation strategy and guide for assessors and learners Student Learning Resources Handouts
Activities 		Slides
PPT 		Assessment 1 Assessment 2 Assessment 3 Assessment 4
Elements of Competency Performance Criteria              
Element: Assist trustee to establish scope for outsourced services
  • Conduct review to determine extent to which selected activities are being conducted by trustees or by outsourced services
  • Identify activities within fund that can, or are required to, be outsourced
  • Identify scope of possible outsourced services
  • Identify legislative requirements relating to required services
  • Make recommendation and/or decision on scope of outsourced services according to fund requirements
  • Establish engagement criteria in negotiation with trustee
       
Element: Assist trustee to establish performance criteria for outsourced services
  • Define and document scope of expertise required from outsourced service
  • Establish and document performance standards for provision of monitoring service standards and performance outcomes of outsourced service providers
  • Establish and document monitoring and measuring processes for performance outcomes of outsourced services
  • Establish and document reporting processes of outsourced services
  • Prepare briefing documents to supply to outsourced service providers
       
Element: Assist trustee to select and engage outsourced suppliers
  • Assist trustee to select suppliers of outsourced services against established criteria
  • Formally engage outsourced suppliers following operational guidelines
  • Brief outsourced suppliers on required service performance standards to ensure clarity of requirements
  • Confirm with trustee outsourced services in place and working implications
       
Element: Assist trustee to monitor performance outcomes of outsourced services
  • Evaluate performance outcomes of outsourced services against performance standards
  • Establish further review periods, to revaluate as necessary
  • Negotiate required changes in services and document accurately
  • Document and communicate supplier performance to trustee
  • Disengage outsourced services as required following operational guidelines
       


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. 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.

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assignment, 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. 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

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
Conduct review to determine extent to which selected activities are being conducted by trustees or by outsourced services 
Identify activities within fund that can, or are required to, be outsourced 
Identify scope of possible outsourced services 
Identify legislative requirements relating to required services 
Make recommendation and/or decision on scope of outsourced services according to fund requirements 
Establish engagement criteria in negotiation with trustee 
Define and document scope of expertise required from outsourced service 
Establish and document performance standards for provision of monitoring service standards and performance outcomes of outsourced service providers 
Establish and document monitoring and measuring processes for performance outcomes of outsourced services 
Establish and document reporting processes of outsourced services 
Prepare briefing documents to supply to outsourced service providers 
Assist trustee to select suppliers of outsourced services against established criteria 
Formally engage outsourced suppliers following operational guidelines 
Brief outsourced suppliers on required service performance standards to ensure clarity of requirements 
Confirm with trustee outsourced services in place and working implications 
Evaluate performance outcomes of outsourced services against performance standards 
Establish further review periods, to revaluate as necessary 
Negotiate required changes in services and document accurately 
Document and communicate supplier performance to trustee 
Disengage outsourced services as required following operational guidelines 

Forms

Assessment Cover Sheet

FNSSMS505 - Support trustee in the selection and performance monitoring of outsourced services
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

FNSSMS505 - Support trustee in the selection and performance monitoring of outsourced services

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: