Application
This unit describes the skills and knowledge required to establish or review human resources, administration and information support systems in a financial services practice.
It applies to experienced individuals who, within their level of authority, coordinate multiple tasks across an organisation, provide guidance to others and make judgements regarding recommended actions to achieve organisational objectives.
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. Meet human resources requirements | 1.1 Identify or review skill needs of organisation or business unit, and number, level and location of personnel required 1.2 Develop appropriate position descriptions and/or role statements and accountabilities for personnel 1.3 Undertake cost–benefit analysis of needs and assess against available budgets 1.4 Recruit or assign consultants with specialist skills and other required personnel as appropriate |
2. Implement training | 2.1 Develop training programs to achieve required service support outcomes and implement in efficient and timely way 2.2 Evaluate and review training programs against requirements on regular planned basis |
3. Implement information support system | 3.1 Establish or review information distribution and access needs, and determine range of information types to be collected, processed and stored 3.2 Identify and obtain suitable and required information support technology and access to information technology support staff 3.3 Establish measures to monitor efficiency of information systems 3.4 Store information securely and in line with regulatory requirements, and enable efficient access |
4. Provide administrative and ancillary services | 4.1 Determine administration and ancillary service needs and standards against operating requirements and budget allocation 4.2 Develop and introduce processes and procedures so that services are delivered within timelines and budget 4.3 Regularly reassess service needs in light of usage and budget |
Evidence of Performance
Evidence of the ability to:
establish or review and implement human resources, including:
determining skill requirements and strategies to attain them
developing, implementing and reviewing training
establish or review information technology systems and storage requirements, including levels of support and monitoring needed
establish or review administrative and ancillary services against operating requirements, key performance indicators and budget.
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:
discuss the integrity and relevance of information from a wide range of available information sources and describe strategies to attain relevant organisational information
analyse and discuss best practice human resources procedures
describe key features of:
documentation systems, including registry and library processes
financial practice administrative processes and systems
financial practice professional services
office information technology systems and software
explain the key requirements of relevant acts, regulations and codes of practice impacting on the financial services industry
describe cost–benefit analysis techniques and purposes
analyse a range of training and assessment techniques and available services appropriate for the practice.
Assessment Conditions
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the practice management field of work and include access to:
office equipment, technology, software and consumables
relevant legislation, regulations and codes of practice.
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, 3.1, 3.2, 4.1 | Accesses and interprets complex information and data from a wide variety of sources to identify specific criteria and determine actions required |
Writing | 1.2, 1.4, 2.1, 3.1, 3.3, 4.2 | Prepares high quality documentation using appropriate formats, with information and data organised logically and sequentially Uses clear and concise language, correct spelling and grammar and appropriate terminology to convey information appropriate to the audience |
Oral Communication | 1.4, 2.1, 4.2 | Participates in verbal exchanges with a wide range of personnel, using active listening and questioning techniques to convey and clarify information Presents information, structuring tone, pace and content in line with the audience and purpose |
Numeracy | 1.1, 1.3, 3.1, 3.3, 4.1-4.3 | Interprets numerical and financial information to determine requirements Uses mathematical concepts to sequence and prioritise timelines and budgets |
Navigate the world of work | 1.2, 2.1, 2.2, 4.1-4.3 | Works autonomously, making high level decisions to achieve and improve organisational goals Develops and implements strategies that ensure organisational policy, procedures and regulatory requirements are being met Maintains knowledge of compliance legislation and best practice management techniques required to perform role |
Interact with others | 2.1, 2.2 | Influences and fosters a collaborative culture, facilitating a sense of commitment and workplace cohesion Shares knowledge, information and experience openly as an integral part of the working relationship Uses a variety of relevant communication tools and strategies in building and maintaining effective working relationships |
Get the work done | 1.1, 1.2, 1.3, 1.4, 2.1, 2.2, 3.1-3.4, 4.1-4.3 | Plans strategic priorities and outcomes within a flexible, efficient and effective context in a diverse environment exposed to competing demands Identifies key factors that impact on decisions and their outcomes, drawing on experience, competing priorities and decision-making strategies where appropriate Explores and incubates new and innovative ideas through unconstrained analysis and critical thinking to develop and improve organisational goals Uses digital technologies to manage business operations and actively investigates new technologies for strategic and operational purposes |
Sectors
Practice management