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Unit of competency details

CPPREP5001 - Manage compliance in the property industry (Release 1)

Summary

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes CPPDSM5009 - Coordinate risk management systems in the property industrySupersedes but is not equivalent to CPPDSM5009 Coordinate risk management systems in the property industry. 20/Mar/2019

Release Status:
Current
Releases:
ReleaseRelease date
1 1 (this release) 21/Mar/2019


Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 080301 Business Management  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 080301 Business Management  21/May/2019 
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Unit Of competency

Modification History

Release 1

This version first released with CPP Property Services Training Package Release 8.0.

Supersedes but is not equivalent to CPPDSM5009 Coordinate risk management systems in the property industry.

Updated to meet industry currency.

Application

This unit specifies the skills and knowledge required to analyse, develop, implement, manage and evaluate compliance in the property industry.

The unit applies to industry professionals in property.

State or territory licensing requirements may apply to this unit.

Pre-requisite Unit

Nil

Unit Sector

Real estate

Elements and Performance Criteria

Elements describe the essential outcomes.

Performance criteria describe what needs to be done to demonstrate achievement of the element.

1. Determine compliance management requirements.

1.1 Identify all jurisdictional legislation, regulations, codes of conduct and ethics to which the agency must comply.

1.2 Analyse and document the requirements for the agency to meet compliance needs.

1.3 Conduct risk analysis for compliance and best practice to determine risk ratings and risk mitigation.

1.4 Determine and plan risk mitigation strategies through development of policies, procedures, work instructions, management and supervisory structures.

2. Develop and risk control strategies that manage compliance.

2.1 Develop strategies and associated policies, procedures and structures to support agency compliance.

2.2 Develop processes and controls to maintain records that demonstrate compliance and best practice.

2.3 Develop management structure and risk control strategies for monitoring and reviewing all compliance and best practice activities.

3. Manage compliance systems.

3.1 Clearly communicate to staff the best practice requirements for the agency.

3.2 Facilitate continuous monitoring, reviewing and adjustment of agency compliance practices.

3.3 Prepare periodic compliance reports to present a clear overview of compliance and agency best practice.

4. Evaluate compliance systems.

4.1 Analyse and review periodic compliance reports to evaluate agency overall compliance and best practice.

4.2 Use evaluation data to determine, document and implement improvements to improve compliance systems.

Foundation Skills

This section describes the language, literacy, numeracy and employment skills essential to performance in this unit but not explicit in the performance criteria:

  • reading skills to interpret workplace documentation
  • writing skills to accurately record information
  • interpersonal and communication skills to collaborate with colleagues
  • planning and organisational skills to set goals and evaluate options to inform decision making.

Unit Mapping Information

No equivalent unit.

Supersedes but is not equivalent to CPPDSM5009 Coordinate risk management systems in the property industry.

Links

Companion volumes to this training package are available at the VETNet website - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=6f3f9672-30e8-4835-b348-205dfcf13d9b

 

Assessment requirements

Modification History

Release 1

This version first released with CPP Property Services Training Package Release 8.0.

Supersedes but is not equivalent to CPPDSM5009 Coordinate risk management systems in the property industry.

Updated to meet industry currency.

Performance Evidence

To demonstrate competency in this unit, a person must document a strategy to manage compliance in an agency by:

  • analysing and determining compliance management for:
  • a minimum of two legislative requirements
  • two internal areas of best practice
  • developing and implementing risk control strategies to manage compliance for each of the above legislative requirements and areas of best practice
  • communicating ethics, standards, culture, compliance and best practice requirements to agency staff on two separate occasions
  • managing the effectiveness and evaluation of compliance systems on two separate occasions, including continuous monitoring, reviewing and adjustment of agency and department compliance practices.

In doing this, the person must meet the performance criteria for this unit.

Knowledge Evidence

To be competent in this unit, a person must demonstrate knowledge of:

  • Commonwealth and state or territory legislation and regulations relating to compliance in real estate
  • property industry codes of conduct and ethics
  • agency policies, procedures and standards
  • industry and agency best practice and quality standards
  • methods and tools for recording and reporting on compliance
  • range of analysis techniques to interpret operational and feedback data relating to compliance
  • compliance requirements relating to trust accounts
  • processes for:
  • identifying financial, strategic, personal and reputational risks in the property industry
  • identifying risks to achieving best practice in the property industry
  • analysing and rating identified risks in terms of likelihood and consequences
  • preparing risk controls and risk mitigation strategies
  • incorporating risk controls and risk mitigation strategies in policies, procedures and business strategies in the property industry
  • management and communication techniques for leading, mentoring and motivating teams in the property industry.

Assessment Conditions

Assessors must satisfy the requirements for assessors listed in the Standards for Registered Training Organisations.

Assessment must be conducted in the workplace or in a simulated workplace environment.

Assessors are responsible for ensuring that the person demonstrating competency has access to:

  • materials and equipment meeting the operational requirements for a property agency:
  • business plans, strategies, policies and procedures relating to property industry compliance
  • records relating to all aspects of property industry compliance
  • position descriptions for employees, including detailed roles and responsibilities
  • legislation in the state or territory of operation relating to compliance
  • equipment required to prepare documentation and to manage processes and teams in a property agency.

Links

Companion volumes to this training package are available at the VETNet website - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=6f3f9672-30e8-4835-b348-205dfcf13d9b