Application
This unit describes the skills and knowledge required to determine trustee requirements, provide support to trustees, make recommendations to trustees and implement trustee decisions.
It applies to individuals who use specialised industry knowledge and problem-solving skills to contribute to continuous improvement and implement decisions relating to the management of funds.
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. Determine trustee requirements | 1.1 Establish communication and documentation requirements of trustees 1.2 Determine support requirements of trustees 1.3 Establish legislative and regulatory requirements in trustee liaisons 1.4 Implement operational procedure for working with trustees |
2. Provide support to trustees | 2.1 Provide support to trustees in a range of areas 2.2 Update trustees on progress in relevant areas 2.3 Provide trustees with required information to implement trustee responsibilities 2.4 Resolve fund issues within limits of own responsibility 2.5 Manage according to organisational procedures |
3. Make recommendations to trustees | 3.1 Report on performance regarding standards achieved 3.2 Document recommendations clearly and logically 3.3 Provide trustees with recommendations for decisions on outsourced services and fund personnel, where appropriate |
4. Implement trustee decisions | 4.1 Clearly define trustee decisions and identify implications 4.2 Communicate trustee decisions to appropriate personnel 4.3 Initiate, supervise and monitor implementation of trustee decisions 4.4 Provide confirmation of implementation to trustees |
Evidence of Performance
Evidence of the ability to:
determine trustee requirements and provide support to trustees
make recommendations to trustees and implement their decisions
monitor specialist services and make recommendations for improvement to fund service and performance.
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:
identify the communication and documentation requirements of trustees
outline documentation management requirements
explain the key compliance and reporting requirements of legislation and regulation relating to:
superannuation
taxation
corporations
compare and contrast industry products and services
outline key features of organisational procedures for:
ensuring compliance
managing specialist services
performance management
explain risk management strategies
discuss the role and responsibilities of trustees
identify and outline timeframe requirements for compliance reports for specialist services.
Assessment Conditions
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
legislation and regulatory information.
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 | Analyses and interprets complex textual and numerical information from a range of sources Reviews specific aspects of information to determine requirements and formulate recommendations |
Writing | 2.2, 2.3, 3.1-3.3, 4.1, 4.2, 4.4 | Accurately documents complex information following organisational procedures and protocols Uses correct language, concepts and terminology to convey and clarify explicit information and requirements |
Oral Communication | 2.2, 2.3, 3.1, 3.3, 4.2, 4.4 | Participates in verbal exchanges using active listening and questioning to convey and clarify information Clearly and effectively presents complex information using language and concepts appropriate to audience and purpose |
Numeracy | 2.1, 2.3, 3.1 | Performs calculations and applies mathematical problem-solving techniques to analyse data, performance trends and targets |
Navigate the world of work | 1.3, 1.4, 2.3 | Takes full responsibility for following policies, procedures and legislative requirements |
Interact with others | 2.2, 3.1, 3.3, 4.2, 4.4 | Selects and uses appropriate conventions and protocols when communicating with stakeholders Implements strategies to build rapport and foster strong relationships with a diverse range of stakeholders Collaborates with others to share information, and elicit and provide feedback |
Get the work done | 1.1-1.4, 2.1, 2.3-2.5, 3.1, 3.2, 4.1, 4.3 | Accepts responsibility for planning and sequencing complex tasks and workload, negotiating key aspects with others and taking into account capabilities, efficiencies and effectiveness Applies systematic and analytical decision-making processes for complex and non-routine situations Addresses complex problems involving multiple variables, using formal analytical and lateral thinking techniques, experience and knowledge Uses a range of digitally based technologies to enter, access or update information to achieve required outcomes |
Sectors
Superannuation