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. Interpret available information and conduct research

1.1 Establish timelines to meet research deadlines

1.2 Identify relevant sources of information accurately and consistently, and source and retrieve required information readily and promptly

1.3 Constantly review sources of research information and documentation to ensure currency and accuracy

1.4 Prepare research findings that logically flow from interpretation of information available in detailed, clear and accurate format, and in timely manner

2. Analyse and review research findings and activities

2.1 Carry out research activities and outcomes in accordance with organisational policy and guidelines, confidentiality requirements, and relevant legislation or industry codes of practice

2.2 Analyse and review research findings and activities to ensure accuracy and thoroughness

2.3 Review statutory disclosures to maintain consistency and compliance

2.4 Seek feedback regularly to monitor effectiveness and appropriateness of research activities

3. Document research and distribute to relevant parties

3.1 Check research to ensure compliance with organisational policy and guidelines, and with relevant legislation or industry codes of practice, and ensure it is authorised before release

3.2 Distribute research to all relevant parties as required in timely manner

3.3 Obtain confirmation of receipt of research information where relevant to complete organisational records of compliance

Skill 

Performance Criteria 

Description 

Reading

1.2, 1.3, 2.2, 2.3, 3.1

• Analyses and consolidates information and data from a range of sources, against defined criteria and requirements, and checks for accuracy and completeness

Writing

1.4, 3.2

• Accurately records and completes organisational documents, reports and correspondence using clear language and correct spelling, grammar and terminology
• Produces, edits and proofreads documents to ensure clarity of meaning, and accuracy and consistency of information

Oral Communication

2.4, 3.3

• Interacts effectively in verbal exchanges, using active listening and questioning, to convey and clarify information

Numeracy

1.1, 1.4, 2.2

• Performs mathematical calculations to estimate and establish timeframes

Navigate the world of work

2.1, 2.2, 2.3, 3.1, 3.3

• Takes full responsibility for following policies, procedures and legislative requirements, and identifies organisational implications of new legislation or regulation
• Identifies and resolves key business issues, processes and practices that may have legal implications
• Modifies or develops research strategies consistent with organisational policy, procedures, legislative requirements, codes of practice and organisational goals

Interact with others

2.4, 3.2

• Selects and uses appropriate conventions and protocols when communicating with clients and co-workers in a range of work contexts

Get the work done

1.1, 1.2, 1.3, 1.4, 2.2, 3.2, 3.3

• Accepts responsibility for planning and sequencing complex tasks and workload, negotiating key aspects with others and taking into account capabilities, efficiencies and effectiveness
• Monitors progress of plans and schedules, and reviews and changes them to meet new demands and priorities
• Applies systematic and analytical decision-making processes for complex and non-routine situations
• Uses the main features and functions of digital tools to complete work tasks and access information

Code and title 

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNSINC501 Conduct product research to support recommendations

FNSINC501A Conduct product research to support recommendations

Updated to meet Standards for Training Packages

Equivalent unit

Release 

Comments 

Release 1

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