Unit of competency
Modification History
Release |
Comments |
Release 1 |
This version first released with FNS Financial Services Training Package Version 1.0. |
Application
This unit describes the skills and knowledge required to correctly interpret and apply industry and organisational procedures, guidelines, policies, ethical standards and sustainability requirements to day-to-day work in the financial services industry.
It applies to individuals with the fundamental skills required to work in the financial services industry and underpins other units used in all sectors of the industry.
Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Unit Sector
Industry capability
Elements and Performance Criteria
ELEMENT |
PERFORMANCE CRITERIA |
Elements describe the essential outcomes. |
Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Work within industry guidelines, procedures and legislation |
1.1 Apply guidelines, procedures, legislation and codes of practice to financial services industry and determine effects on everyday work 1.2 Recognise and follow workplace procedures and instructions for environmentally sustainable work practices, and suggest any potential improvements to appropriate personnel 1.3 Carry out work tasks in accordance with specific organisational policy, guidelines and procedures 1.4 Undertake work tasks to meet organisation’s philosophy, values and objectives in relation to customer service, professional practice and ethical principles 1.5 Seek assistance from appropriate personnel to clarify application of guidelines, procedures and legislation, where necessary |
2. Communicate in the workplace |
2.1 Use effective listening and speaking skills in verbal communications 2.2 Respond to instructions or enquiries promptly and in accordance with organisational requirements 2.3 Ensure presentation of written information meets organisational standards of style, format and accuracy in line with financial services industry 2.4 Use communication to develop and maintain positive relationships, mutual trust and confidence |
3. Work safely |
3.1 Follow established safety procedures when conducting work 3.2 Identify designated persons to report queries and concerns about safety in the workplace 3.3 Take action to eliminate workplace hazards or reduce risk 3.4 Follow organisational procedures when responding to emergency incidents |
4. Use workplace technology |
4.1 Access relevant information management systems and databases according to organisational procedures 4.2 Use proprietary or organisational software effectively to develop workplace documents, input and extract data, and make calculations |
5. Work in a team environment |
5.1 Provide support to team members to ensure work group goals are met 5.2 Contribute constructively to work group goals and tasks 5.3 Share information relevant to work with group to ensure designated goals are met 5.4 Share opportunities for improvement of group activity with work group members |
Foundation Skills
This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.
Skill |
Performance Criteria |
Description |
Reading |
1.2, 1.3, 3.4 |
|
Writing |
2.3, 4.2 |
|
Oral Communication |
1.2, 1.5, 2.1, 2.4, 5.3, 5.4 |
|
Numeracy |
4.2 |
|
Navigate the world of work |
1.1-1.5, 2.2, 2.4, 3.1-3.4, 4.1, 6.3 |
|
Interact with others |
1.2, 1.5, 2.2, 5.1-5.4 |
|
Get the work done |
1.1-1.4, 3.1-3.4, 4.1, 4.2, 6.1, 6.2 |
|
Unit Mapping Information
Code and title current version |
Code and title previous version |
Comments |
Equivalence status |
FNSINC301 Work effectively in the financial services industry |
FNSINC301A Work effectively in the financial services industry |
Updated to meet Standards for Training Packages |
Equivalent unit |
Links
Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe