Modification History
Not applicable.
Unit Descriptor
Unit descriptor |
This unit describes the performance outcomes, skills and knowledge required to correctly interpret and apply industry and organisation procedures, guidelines, policies, ethical standards and sustainability requirements to day-to-day work in the financial services industry. This unit has application to all financial services sectors and is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements so the varying Commonwealth, State or Territory requirements should be confirmed with the relevant body. |
Application of the Unit
Application of the unit |
This unit covers fundamental skills required to work in the financial services industry and underpins other units used in all sectors of the industry. |
Licensing/Regulatory Information
Not applicable.
Pre-Requisites
Prerequisite units |
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Employability Skills Information
Employability skills |
This unit contains employability skills. |
Elements and Performance Criteria Pre-Content
Elements describe the essential outcomes of a unit of competency. |
Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the required skills and knowledge section and the range statement. Assessment of performance is to be consistent with the evidence guide. |
Elements and Performance Criteria
ELEMENT |
PERFORMANCE CRITERIA |
1. Work within financial services industry guidelines, procedures and legislation |
1.1. Guidelines , procedures , legislation and codes of practice applying to the financial industry are identified and the effects on everyday work determined 1.2. Workplace procedures and instructions for environmentally sustainable work practices are recognised and followed and any potential improvements suggested to appropriate personnel 1.3. Work tasks are carried out in accordance with specific organisation policy , guidelines and procedures 1.4. Work tasks undertaken meet the organisation philosophy , values and objectives in relation to customer service, professional practice and ethical principles 1.5. Assistance in clarifying the application of the guidelines, procedures and legislation is sought from appropriate personnel where necessary |
2. Communicate in the workplace |
2.1. Effective listening and speaking skills are used in verbal communication 2.2. Instructions or enquiries are responded to promptly and in accordance with organisational requirements 2.3. Presentation of written information meets organisational standards of style, format and accuracy 2.4. Communication is used to develop and maintain positive relationships, mutual trust and confidence |
3. Work safely |
3.1. Established safety procedures are followed when conducting work 3.2. Designated persons are identified for reporting queries and concerns about safety in the workplace 3.3. Actions are taken to eliminate workplace hazards or to reduce risk 3.4. Organisational procedures are followed for responding to emergency incidents |
4. Use workplace technology |
4.1. Relevant information management systems and databases are accessed and used according to organisational procedures 4.2. Proprietary or organisational software is used effectively to develop workplace documents, input and extract data and make calculations |
5. Work in a team environment |
5.1. Support to team members is provided to ensure work group goals are met 5.2. Constructive contribution is made to work group goals and tasks 5.3. Information relevant to work with work group is shared to ensure designated goals are met 5.4. Opportunities for improvement of work group activity are shared with work group members |
6. Develop effective work habits |
6.1. Work and personal priorities are identified and planned to achieve a balance between any competing priorities 6.2. Time management strategies are applied to work duties 6.3. Appropriate dress and behaviour codes as required by the workplace, job role or customer contact are followed |
Required Skills and Knowledge
REQUIRED SKILLS AND KNOWLEDGE |
This section describes the skills and knowledge required for this unit. |
Required skills |
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Required knowledge |
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Evidence Guide
EVIDENCE GUIDE |
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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. |
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Overview of assessment |
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Critical aspects for assessment and evidence required to demonstrate competency in this unit |
Evidence of the ability to:
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Context of and specific resources for assessment |
Assessment must ensure:
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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:
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Guidance information for assessment |
Range Statement
RANGE STATEMENT |
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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. |
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Guidelines , procedures , legislation and codes of practice may include: |
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Environmentally sustainable work practices include: |
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Appropriate personnel may include: |
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Organisation policy , guidelines , and procedures may include: |
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Organisation philosophy , values and objectives may include: |
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Verbal communication may include: |
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Standards may include: |
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Safety procedures may include: |
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Designated persons may include: |
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Risk is: |
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Proprietary or organisational software may include |
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Support to team members may include: |
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Unit Sector(s)
Unit sector |
Industry capability |
Competency field
Competency field |
Co-requisite units
Co-requisite units |
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