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

FNSSUP507 Mapping and Delivery Guide
Review compliance with regulatory and contractual requirements

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSSUP507 - Review compliance with regulatory and contractual requirements
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to identify performance requirements, develop and implement systems and procedures, monitor and report compliance performance, and advise on required changes to regulatory and contractual compliance requirements.It applies to individuals who have responsibility for ensuring quality practices and industry requirements are effectively implemented, maintained and improved.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 superannuation field of work and include access to:

common office equipment, technology, software and consumables

organisational financial records

organisational policy and procedures

current legislation that impacts on the superannuation industry.

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: Identify performance requirements
  • Identify performance requirements in accordance with operating guidelines and relevant legislative requirements
  • Document performance requirements
  • Establish performance criteria for meeting requirements
       
Element: Develop and implement systems and procedures to meet requirements
  • Prepare action plans to meet requirements
  • Establish and implement appropriate operational guidelines, policy and procedures
  • Develop and document contingency plans to ensure requirements are met in extraordinary situations
       
Element: Monitor compliance with required performance
  • Regularly review performance requirements against each fund or plan to ensure compliance
  • Alter procedures, guidelines and policies in response to changed circumstances and performance variation
       
Element: Report and advise on required changes
  • Fully document all fund performance reviews
  • Identify anomalies and variations, and report promptly
  • Support advice and recommendations for change with effective action plans
       


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. Identify performance requirements

1.1 Identify performance requirements in accordance with operating guidelines and relevant legislative requirements

1.2 Document performance requirements

1.3 Establish performance criteria for meeting requirements

2. Develop and implement systems and procedures to meet requirements

2.1 Prepare action plans to meet requirements

2.2 Establish and implement appropriate operational guidelines, policy and procedures

2.3 Develop and document contingency plans to ensure requirements are met in extraordinary situations

3. Monitor compliance with required performance

3.1 Regularly review performance requirements against each fund or plan to ensure compliance

3.2 Alter procedures, guidelines and policies in response to changed circumstances and performance variation

4. Report and advise on required changes

4.1 Fully document all fund performance reviews

4.2 Identify anomalies and variations, and report promptly

4.3 Support advice and recommendations for change with effective action plans

Evidence of the ability to:

identify performance requirements, and implement systems and procedures to meet those requirements

monitor compliance with required performance, and report and advise on any required changes.

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:

outline the key sources of information about organisational performance, products and procedures

outline the key principles of contingency management

explain the importance of customer analysis and service focus within the industry or organisation

describe the impact of relevant tax legislation on compliance activity

describe the key aspects of superannuation industry (supervision) (SIS) legislation

explain the key features of superannuation systems and procedures.

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. Identify performance requirements

1.1 Identify performance requirements in accordance with operating guidelines and relevant legislative requirements

1.2 Document performance requirements

1.3 Establish performance criteria for meeting requirements

2. Develop and implement systems and procedures to meet requirements

2.1 Prepare action plans to meet requirements

2.2 Establish and implement appropriate operational guidelines, policy and procedures

2.3 Develop and document contingency plans to ensure requirements are met in extraordinary situations

3. Monitor compliance with required performance

3.1 Regularly review performance requirements against each fund or plan to ensure compliance

3.2 Alter procedures, guidelines and policies in response to changed circumstances and performance variation

4. Report and advise on required changes

4.1 Fully document all fund performance reviews

4.2 Identify anomalies and variations, and report promptly

4.3 Support advice and recommendations for change with effective action plans

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
Identify performance requirements in accordance with operating guidelines and relevant legislative requirements 
Document performance requirements 
Establish performance criteria for meeting requirements 
Prepare action plans to meet requirements 
Establish and implement appropriate operational guidelines, policy and procedures 
Develop and document contingency plans to ensure requirements are met in extraordinary situations 
Regularly review performance requirements against each fund or plan to ensure compliance 
Alter procedures, guidelines and policies in response to changed circumstances and performance variation 
Fully document all fund performance reviews 
Identify anomalies and variations, and report promptly 
Support advice and recommendations for change with effective action plans 

Forms

Assessment Cover Sheet

FNSSUP507 - Review compliance with regulatory and contractual requirements
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

FNSSUP507 - Review compliance with regulatory and contractual requirements

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: