Application
This unit describes the skills and knowledge required to check dealing transaction documentation and complete confirmation and settlement processes.
It applies to individuals who use specialised knowledge and systematic approaches to check accuracy and complete work requirements.
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.
Elements and Performance Criteria
ELEMENT | PERFORMANCE CRITERIA |
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Process transaction documentation | 1.1 Check transaction documentation received from dealer promptly for accuracy and completion according to organisational guidelines 1.2 Enter details on transaction documentation into organisational dealing system using appropriate technology 1.3 Review organisational records to ensure that master agreements are in place before confirmation processes are conducted |
2. Complete confirmation processes | 2.1 Produce and forward organisational confirmation documentation to client for approval and authorisation 2.2 Receive authorised confirmation documentation and complete financial transaction according to confirmed settlement procedures and organisational and industry requirements 2.3 Forward confirmation documentation to client outlining settlement exchange details |
Evidence of Performance
Evidence of the ability to:
interpret and comply with organisational and industry settlement and confirmation procedures
use transaction processing systems
process transaction documentation
complete confirmation processes.
Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.
Evidence of Knowledge
To complete the unit requirements safely and effectively, the individual must: :
describe the key features and processes relating to master agreement instructions
describe the key features of:
organisational and industry confirmation systems and procedures
organisational and industry settlement systems and procedures
organisational policy and procedures.
Assessment Conditions
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the financial markets field of work and include access to:
office equipment, technology, software and consumables
an integrated financial software system and data.
Assessors must satisfy NVR/AQTF assessor requirements.
Foundation Skills
This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.
Skill | Performance Criteria | Description |
Reading | 1.1-1.3, 2.2 | Interprets and checks accuracy of information from a range of sources to determine and confirm work requirements |
Writing | 1.2, 2.1, 2.2, 2.3 | Records key information and accurately prepares documentation following organisational procedures and protocols |
Numeracy | 1.1, 1.2, 2.2 | Uses mathematical equations to perform calculations |
Navigate the world of work | 1.1, 2.2 | Takes responsibility for completing process documentation to industry and organisational requirements |
Interact with others | 2.1, 2.3 | Selects and uses appropriate conventions and protocols when communicating with clients |
Get the work done | 1.1-1.3, 2.1-2.3 | Plans, organises and completes tasks, aiming to complete efficiently and effectively Uses the main features and functions of digital tools to complete work tasks and access information |
Sectors
Financial markets