Release 

Comments 

Release 1

This version first released with FNS Financial Services Training Package Version 1.0.

ELEMENT 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

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

1. Complete pre-deal documentation and authorisations

1.1 Complete onboarding checks for new clients according to regulatory requirements and organisational guidelines

1.2 Establish and confirm type of transaction client wishes to undertake

1.3 Check and confirm master agreement is in place for client and relevant transaction

1.4 Confirm client authorisation to trade in specified financial product and for relevant transaction

1.5 Discuss, clarify and resolve any issues related to product or transaction with client

2. Execute transaction for client

2.1 Check and verify that transaction is within client’s and own authorised trading limits

2.2 Confirm with client whether trade is to be centrally cleared

2.3 Confirm details of trade and obtain client’s acknowledgement

2.4 Capture accurate details of transaction in organisation’s systems, including risk management requirements in required timeframe

2.5 Report details of transaction to authorised trade repository as required

3. Complete processes for confirming and settling transaction

3.1 Forward details of transaction order to client promptly

3.2 Complete financial transaction according to organisation and industry requirements

3.3 Investigate exceptions and fails promptly if notified by investigations teams or relevant personnel

Skill 

Performance Criteria 

Description 

Reading

1.1-1.4, 2.3, 3.2

• Interprets and checks accuracy of complex information and financial data from a range of sources to determine and confirm requirements

Writing

1.1-1.5, 2.2-2.5, 3.1, 3.3

• Records key information and accurately and comprehensively prepares documentation following organisational procedures and protocols

Oral Communication

1.2-1.5, 2.2, 2.3

• Participates in verbal exchanges using active listening and questioning techniques, appropriate to audience and purpose, to convey and clarify information

Numeracy

2.1, 2.3, 3.2

• Uses mathematical equations to perform calculations and analyse complex financial data to achieve required outcomes

Navigate the world of work

1.1-1.4, 2.1, 3.2

• Keeps up to date on changes to legislation or regulations relevant to own rights and responsibilities and considers implications of these when negotiating, planning and undertaking work

Interact with others

1.1-1.5, 2.2, 2.3, 2.5

• Selects and uses appropriate conventions and protocols when communicating with personnel

Get the work done

2.4, 3.1-3.3

• Takes responsibility for planning, sequencing and prioritising tasks and own workload for efficiency and effective outcomes
• Uses formal analytical processes to identify potential problems and lateral thinking processes to generate possible solutions
• Uses digital tools to access and organise complex data and analyse multiple sources of information for strategic purposes

Accurate details of the transaction must be compliant with:

• Australian Securities Exchange (ASX) market rules
• Australian Clearing House (ACH) clearing rules
• Australian Settlement and Transfer Corporation (ASTC) settlement rules (collectively referred to as the ASX Rules).

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNSFMK509 Process transaction documentation

FNSFMK509A Apply knowledge of transaction documentation and processing

Updated to meet Standards for Training Packages

Title changed

Rewritten and reorganised performance criteria to clarify unit intent

Equivalent unit

Release 

Comments 

Release 1

This version first released with FNS Financial Services Training Package Version 1.0.