Application
This unit applies to a range of financial services job roles involving research functions. |
Elements and Performance Criteria
ELEMENT | PERFORMANCE CRITERIA |
1. Interpret available information and conduct research | 1.1. Timelines are established to meet research requirement deadlines 1.2. Relevant sources of information are identified accurately and consistently, and required information can be sourced and retrieved readily and promptly 1.3. Sources of research information and documentation are constantly reviewed to ensure currency and accuracy 1.4. Research findings logically flow from the interpretation of information available and are prepared in a detailed, clear, accurate and timely format |
2. Analyse and review research findings and activities | 2.1. Research activities and outcomes are consistent with organisation policy and guidelines, confidentiality requirements, and with relevant legislation or industry codes of practice 2.2. Research findings and activities are analysed and reviewed to ensure accuracy and thoroughness 2.3. The adequacy of statutory disclosures is reviewed to maintain consistency and compliance 2.4. Feedback is regularly sought to monitor the effectiveness and appropriateness of research activities |
3. Document research and distribute to relevant parties | 3.1. All research is checked to ensure compliance with organisation policy and guidelines, and with relevant legislation or industry codes of practice, and is authorised before release 3.2. Research is distributed to all relevant parties as required in a timely manner 3.3. Confirmation of receipt of research information is obtained where relevant in order to complete organisation records of compliance |
Required Skills
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Required skills |
communication skills to: determine and confirm research requirements, using questioning and active listening as required liaise with others, share information, listen and understand use language and concepts appropriate to cultural differences well-developed researchand analysisforaccessing, interpreting and managing complex information interpreting a range of documentation coordinating tasks numeracy and IT skills for: identifying and using research and analysis tools accessing and using appropriate software such as word processors, spreadsheets and databases using internet information problem solving skills to identify any issues that have the potential to impact on the research and analysis process or outcome and to develop options to resolve these issues when they arise organisational skills, including the ability to plan and sequence work |
Required knowledge |
current economic climate and outlook financial forecasting techniques and tools local and international financial markets and investments organisation policy, procedures and requirements relevant industry legislation and codes of practice techniques and tools for evaluation and interpretation of research data |
Evidence Required
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: establish and meet required research deadlines interpret andcomply with relevant legislative requirements access and interpret available information accurately and comprehensively comply with statutory disclosure requirements document research findings concisely and clearly for distribution purposes. |
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 financial services product 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 verbal or written questioning on underpinning knowledge and skills setting and reviewing business simulations or scenarios evaluating samples of work accessing and validating third party reports. |
Guidance information for assessment |
Range Statement
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included. | |
Relevant sources of information may include: | industry and economic data interviews organisation reports organisation visits specific investments types of products. |
Research information and documentation may include: | advice agreements bills brochures CDs contracts or policy statements electronic documents (including internet) in-house publications legal, government, professional and other documents meeting notes memos official, general and other correspondence presentation notes prospectuses quotations reasons for adopting and incorporating certain information in preference to other information receipts records of telephone conversations reference to all evidence and information considered reports: short long research statistical ad hoc transaction other. |
Organisation policy and guidelines may include: | advertising and marketing clerical codes of practice complaints and dispute resolution procedures IT and administrative systems policies and procedures in relation to client service product or service development. |
Relevant legislation and codes of practice may include: | Consumer Affairs Act Consumer Credit Code contract law Corporations Act industry codes of practice National Guarantee Fund rules Privacy Act relevant financial association business rules and codes of conduct secrecy laws Taxation Act Trade Practices Act trust law. |
Authorisation may include: | advisers auditors organisation accountants organisation directors or managers. |
Relevant parties may include: | accountants advisers agents auditors Australian Bureau of Statistics (ABS) Australian Securities and Investments Commission (ASIC) Australian Securities Exchange (ASX) Australian Taxation Office (ATO) banks clients consultants members organisation directors or managers other organisations shareholders Stamp Duties Office stockbrokers trustees. |
Sectors
Unit sector | Industry capability |
Employability Skills
This unit contains employability skills. |
Licensing Information
Not applicable.