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Unit of competency details

FNSINC503 - Identify situations requiring complex ethical decision making (Release 1)

Summary

Usage recommendation:
Current
Release Status:
Current
Releases:
ReleaseRelease date
1 1 (this release) 13/Feb/2018

Companion volumes:

Qualifications that include this unit

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FNS51915 - Diploma of Personal Injury and Disability Insurance ManagementDiploma of Personal Injury and Disability Insurance Management
FNS50315 - Diploma of Finance and Mortgage Broking ManagementDiploma of Finance and Mortgage Broking Management
FNS51415 - Diploma of Loss AdjustingDiploma of Loss Adjusting
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FNS60515 - Advanced Diploma of SuperannuationAdvanced Diploma of Superannuation
FNS51815 - Diploma of Financial ServicesDiploma of Financial Services
FNS60217 - Advanced Diploma of AccountingAdvanced Diploma of Accounting1-2 
FNS50915 - Diploma of Banking Services ManagementDiploma of Banking Services Management
FNS50217 - Diploma of AccountingDiploma of Accounting1-3 
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Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 080301 Business Management  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 080301 Business Management  11/Apr/2018 
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Unit Of competency

Modification History

Release 

Comments 

Release 1

This version first released with FNS Financial Services Training Package Version 3.0.

Application

This unit describes the skills and knowledge required to identify situations requiring complex ethical decision making in a variety of industries and organisational settings.

It applies to individuals who use ethical principles and apply ethical frameworks to make decisions in workplace situations.

The skills in this unit must be applied according to commonwealth, state and territory legislation, and applicable national standards and industry codes of practice or similar instruments.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Financial Services Training Package Companion Volume Implementation Guide or the relevant regulator for specific guidance on regulatory 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. Identify ethical principles

1.1 Identify personal and professional ethical principles relevant to own role, and their effect on actions and behaviour in the workplace

1.2 Analyse the impact that financial rewards and other incentives may have on an individual’s actions

1.3 Analyse the impact of context, group dynamics, and cognitive biases on conduct and behaviour

1.4 Analyse how psychological tendencies and decision-making biases can prevent individuals from perceiving ethical issues in the decisions that they make

1.5 Analyse the difference between ethical conduct and compliant or legal conduct

2. Apply ethical frameworks in the workplace

2.1 Identify workplace situation where complex ethical decisions are required

2.2 Source and access ethical frameworks that can be applied to workplace situation

2.3 Assess factors that may prevent application of ethical frameworks to workplace situation

3. Analyse legal and organisational protection that apply to ethical decision making

3.1 Identify legal protection for ethical actions in workplace situation

3.2 Identify organisational and industry policies and procedures for escalating ethical issues

3.3 Identify sources of advice and guidance that can be used to apply ethical frameworks in the workplace

Foundation Skills

This section describes those language, literacy and numeracy and employment skills that are essential to performance.

Skill 

Description 

Learning

  • Investigates, evaluates and applies information from a range of complex and abstract texts to expand own knowledge
  • Considers the reliability of an information source against a range of criteria, e.g. author’s background, intended audience and purpose
  • Identifies, plans and implements strategies to manage gaps in own knowledge

Reading

  • Sources, evaluates and critiques ideas and information from a range of complex and abstract texts

Oral communication

  • Participates in verbal exchanges using active listening and questioning techniques when seeking advice and conveying information
  • Uses language and concepts appropriate to audience and purpose

Navigate the world of work

  • Keeps up-to-date on changes and developments in ethical considerations and situations relating to own responsibilities, and considers their implications when negotiating, planning and undertaking work

Interact with others

  • Discusses volatile subject matter in a conscientious, accurate and factual manner

Get the work done

  • Accepts responsibility for planning and sequencing complex tasks and workload
  • Monitors progress of plans in achieving agreed outcomes
  • Systematically gathers and analyses information and evaluates options to inform decisions about multidimensional scenarios

Unit Mapping Information

Code and title 

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNSINC503 Identify situations requiring complex ethical decision making

No previous unit.

New unit.

No equivalent unit.

Links

Companion volumes are available from VETNet. - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe

 

Assessment requirements

Modification History

Release 

Comments 

Release 1

This version first released with FNS Financial Services Training Package Version 3.0.

Performance Evidence

Evidence of the ability to:

  • identify three workplace situations that require ethical decisions to be made, and:
  • analyse the ethical frameworks that apply to each situation
  • determine the legal requirements and ethical dimensions of each situation including:
  • identifying variances between legal requirements and ethical dimensions
  • evaluating the impact of variances between legal and ethical requirements on decision making
  • evaluate the factors in each situation that could inhibit ethical decision making
  • determine the legal and organisational protections available when responding to each ethical situation.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

Knowledge Evidence

The candidate must be able to demonstrate the following knowledge to effectively complete the tasks outlined in the elements and performance criteria of this unit, and to manage tasks and reasonably foreseeable contingencies in the context of the work role.

  • Industry context in which the unit is being delivered, and common job roles in that industry
  • Impact of remuneration and incentives, organisational culture and situational contexts on an individual’s actions and behaviours in the workplace
  • Theories of group dynamics in social psychology in relation to how people respond when confronted with an ethical situation that is inconsistent with their values
  • Frameworks for ethical decision making, problem solving and policy setting
  • Organisational artefacts relating to ethics, values and standards
  • Key principles of industry legislation, regulations, codes, and other instruments required to perform work described in the performance evidence
  • Procedures, strategies or protocols to identify and address unethical conduct

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the industry capability field and include access to:

  • case studies representing situations of comparable context and complexity to those reasonably likely to occur in the industry
  • instruments, artefacts or other objects or materials required to effectively complete the elements, performance criteria and evidence requirements of the unit.

Assessors of this unit must satisfy the assessor requirements in applicable vocational education and training legislation, frameworks and/or standards.

Links

Companion volumes are available from VETNet. - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe