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Evidence Guide: FNSORG401A - Conduct individual work within a compliance framework

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!

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FNSORG401A - Conduct individual work within a compliance framework

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

Identify individual compliance requirements

  1. Statutory, legislative and regulatory requirements relating to the individuals work are researched and documented
  2. Organisational and industry requirements relating to the individuals work are researched and documented
Statutory, legislative and regulatory requirements relating to the individuals work are researched and documented

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Organisational and industry requirements relating to the individuals work are researched and documented

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Interpret individual compliance requirements

  1. Compliance requirements are mapped against individual work practices
  2. Ethical considerations are discussed with relevant parties where appropriate
Compliance requirements are mapped against individual work practices

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ethical considerations are discussed with relevant parties where appropriate

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop or respond to procedures to ensure individual compliance

  1. Consultation is undertaken with appropriate persons to identify procedures to be followed ensure compliance
  2. Procedures are reviewed and/or developed to ensure compliance
  3. Appropriate records are maintained
Consultation is undertaken with appropriate persons to identify procedures to be followed ensure compliance

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Procedures are reviewed and/or developed to ensure compliance

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Appropriate records are maintained

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and adapt to changes in individual compliance requirements

  1. Training programs (internal/external) that deliver against compliance requirements are identified
  2. Professional development opportunities related to the individual situation are identified and discussed with managers/supervisors
  3. Documentation relating to compliance issues is read and understood
  4. Documentation relating to compliance issues is discussed with appropriate persons to ensure ongoing compliance is maintained
Training programs (internal/external) that deliver against compliance requirements are identified

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Professional development opportunities related to the individual situation are identified and discussed with managers/supervisors

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Documentation relating to compliance issues is read and understood

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Documentation relating to compliance issues is discussed with appropriate persons to ensure ongoing compliance is maintained

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

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:

identify relevant legislative and regulatory requirements relating to work practices

map requirements to work practices to demonstrate an understanding of compliance requirements

maintain necessary organisational records in accordance with compliance requirements

monitoring and respond to changes in compliance requirements.

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

access to information about a workplace policy and procedures.

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

observing processes and procedures in workplaces

verbal or written questioning on underpinning knowledge and skills

evaluating samples of work

accessing and validating third party reports

setting and reviewing workplace projects and business simulations or scenarios.

Guidance information for assessment

Required Skills and Knowledge

Required skills

communication skills to:

use questioning and active listening to confirm understanding and application

liaise and share information with others

communicate appropriately with people from diverse backgrounds

IT skills to:

use computer applications to maintain records

access web-based information services

reading skills to:

read and understand relevant regulatory and operational procedures

organisational skills to efficiently plan and sequence work

Required knowledge

relevant legislative and regulatory requirements

relevant codes of practice

organisational policy and procedures

comprehensive knowledge of individual work requirements and practices.

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.

Legislative and regulatory requirements may include, but are not limited to:

Australian Securities and Investments Commission (ASIC) Policy Statement 146 – Tier 2 compliance

Privacy Act

Taxation Act

Competition and Consumer Act 2010 (Cth)

relevant Insurance Act

Australian Accounting Standards

Corporations Act 2001 (Cth)

ASIC Act 1989 (Cth)

National Consumer Credit Protection Act 2009 (Cth)

AML-CTF Act

Personal Property Securities Act 2009 (Cth)

ASIC

AUSTRAC

ACCC

Office of the Australian Information Commissioner (OAIC)

ITSA

Organisation and industry requirements may include, but are not limited to:

company policy and procedures

internal control guidelines

computer system documentation

operations manuals

business and performance plans

mission statements

strategic plans

industry codes of ethics

industry codes of conduct

industry code of practice

Appropriate persons may include:

compliance managers

compliance officers

supervisors

senior management

Records may include:

training records

tax records

statutory records

Professional development may include:

seminars and workshops

professional body membership

product training

coaching, mentoring or supervision

career path development

Documentation may include:

circulars/memos

organisational/industry newsletters

emails

press clippings

staff meeting agendas and minutes

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