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Evidence Guide: DEFFIN010 - Manage banking services

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

DEFFIN010 - Manage banking services

What evidence can you provide to prove your understanding of each of the following citeria?

Maintain bank account

  1. Open an official bank account
  2. Monitor cash balances
  3. Conduct investigations of discrepancies and suspicious transactions
  4. Monitor transaction trends
  5. Close an official bank account
Open an official bank account

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Monitor cash balances

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Conduct investigations of discrepancies and suspicious transactions

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Monitor transaction trends

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Close an official bank account

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Manage foreign exchange

  1. Manage Foreign Exchange (FOREX) risk
  2. Provide advice on current FOREX rates and risks
Manage Foreign Exchange (FOREX) risk

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide advice on current FOREX rates and risks

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop fraud mitigation controls

  1. Design controls to mitigate risk of fraudulent activities
  2. Conduct assurance reviews on financial transactions
Design controls to mitigate risk of fraudulent activities

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Conduct assurance reviews on financial transactions

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENTS

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1

Maintain bank account

1.1

Open an official bank account

1.2

Monitor cash balances

1.3

Conduct investigations of discrepancies and suspicious transactions

1.4

Monitor transaction trends

1.5

Close an official bank account

2

Manage foreign exchange

2.1

Manage Foreign Exchange (FOREX) risk

2.2

Provide advice on current FOREX rates and risks

3

Develop fraud mitigation controls

3.1

Design controls to mitigate risk of fraudulent activities

3.2

Conduct assurance reviews on financial transactions

Required Skills and Knowledge

ELEMENTS

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1

Maintain bank account

1.1

Open an official bank account

1.2

Monitor cash balances

1.3

Conduct investigations of discrepancies and suspicious transactions

1.4

Monitor transaction trends

1.5

Close an official bank account

2

Manage foreign exchange

2.1

Manage Foreign Exchange (FOREX) risk

2.2

Provide advice on current FOREX rates and risks

3

Develop fraud mitigation controls

3.1

Design controls to mitigate risk of fraudulent activities

3.2

Conduct assurance reviews on financial transactions

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria on at least one occasion and include:

applying relevant legislation

complying with delegations and policies, including cash management policies

identifying risks and relevant risk control measures

managing customer relationships

negotiating with stakeholders

producing comprehensive reports

preparing accounting journals

performing reconciliations

using complex spreadsheet formulas and functions.

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria and include knowledge of:

Australian banking legislation, national and international banking systems, and international banking policies

flow of transactions, including:

receipts

payments

returns

Foreign Exchange (FOREX) implications for contracts and the purpose of the FOREX budget

nature and type of various transactions

policies and procedures governing the use of special accounts

types of risks and risk control measures relevant to banking and cash management

various system interfaces relevant to the banking finance function.

Range Statement

Range is restricted to essential operating conditions and any other variables essential to the work environment.

Non-essential conditions may be found in the Companion Volume Implementation Guide.