Unit of competency
Modification History
Release 1. This is the first release of this unit of competency in the DEF Defence Training Package. |
Application
This unit describes the skills required to review, develop and implement financial policies and delegations. This unit applies to those working in the public sector Finance Domain who would be required to undertake financial management activities as part of their duties. The skills and knowledge described in this unit must be applied within the legislative, regulatory and policy environment in which they are carried out. Organisational policies and procedures must be consulted and adhered to, particularly those related to financial management activities. Those undertaking this unit would be working under minimal supervision and/or supervising small teams while undertaking financial management tasks. They would perform sophisticated tasks in familiar contexts. No licensing, legislative or certification requirements apply to this unit at the time of publication. |
Pre-requisite Unit
Not applicable. |
Competency Field
Financial Management |
Unit Sector
Not applicable. |
Elements and Performance Criteria
ELEMENTS |
PERFORMANCE CRITERIA |
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Elements describe the essential outcomes. |
Performance criteria describe the performance needed to demonstrate achievement of the element. |
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1 |
Review current policies |
1.1 |
Determine the need to review current policies on the basis of external and internal triggers |
1.2 |
Review current policy for appropriateness to current legislative and stakeholder needs |
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1.3 |
Make recommendations for any changes required to a policy |
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2 |
Develop or update policies and delegations |
2.1 |
Undertake research of legislative requirements |
2.2 |
Identify and engage with relevant stakeholders |
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2.3 |
Develop drafts reflecting stakeholder and legislative requirements |
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2.4 |
Prepare relevant documents to present to senior management with recommendations for decision |
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3 |
Implement financial policies |
3.1 |
Receive approval documentation |
3.2 |
Publish policy changes and communicate to relevant stakeholders |
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3.3 |
Make any consequential changes throughout other relevant documentation |
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3.4 |
Respond to queries regarding changes |
Foundation Skills
Foundation skills essential to performance are explicit in the performance criteria of this unit of competency. |
Range of Conditions
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. |
Unit Mapping Information
No equivalent unit. |
Links
Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=6bdbab1e-11ed-4bc9-9cba-9e1a55d4e4a9