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. Provide feedback on and/or confirm authorities and guidelines

1.1 Read and interpret draft authorities and guidelines

1.2 Identify practical application of authorities and guidelines through market testing to determine need for variance

1.3 Negotiate final form of authorities and guidelines with relevant parties to ensure they accommodate variations in workplace requirements and are within organisational policy and procedures

1.4 Obtain authorised authorities and guidelines, and confirm in writing

2. Determine allocation of authorities and guidelines

2.1 Determine criteria to be used as basis for allocation

2.2 Ensure allocation is consistent with existing or updated distribution agreements

2.3 Determine allocations within industry code of practice and relevant legislative requirements

2.4 Ensure allocation enables achievement of desired result in accordance with business plan

3. Negotiate variations to allocated authorities and guidelines

3.1 Negotiate variations where opportunities to maximise or adjust business returns are identified

3.2 Base negotiation on all relevant information

3.3 Ensure outcome of negotiation is accepted by parties

4. Allocate authorities and guidelines

4.1 Advise allocations in writing in clear, concise and timely manner

4.2 Provide training as appropriate and assess its effectiveness

4.3 Record allocation of authorities and guidelines promptly and accurately to ensure records are current

4.4 Verify understanding of authorities and guidelines, and record where appropriate

4.5 Update variations to authorities and guidelines in accordance with organisational policy to ensure currency of operational procedures

4.6 Undertake implementation procedures within relevant industry code of practice and legislative requirements

5. Monitor and review authorities and guidelines compliance

5.1 Check submissions received for compliance with authorities and guidelines

5.2 Monitor business trends and compliance variations to determine effectiveness of authorities and guidelines

5.3 Rectify non-compliance with authorities and guidelines promptly to maintain business plan objectives

6. Evaluate effectiveness of authorities and guidelines

6.1 Identify market trends to ensure evaluation is based on reliable information

6.2 Assess trends to quantify impact on expected business

6.3 Revise allocations in accordance with changes to code of practice, legislative and organisational policy requirements

Skill 

Performance Criteria 

Description 

Reading

1.1, 2.2, 2.3, 2.4, 5.1, 5.2, 6.2

• Critically analyses complex documentation from a variety of sources and consolidates information relating to specific criteria to determine requirements

Writing

1.3, 1.4, 3.1, 4.1, 4.3, 4.4, 6.3

• Accurately records information and prepares correspondence and documentation using clear language and organisational formats and protocols
• Composes, edits and proofreads documents to ensure clarity, accuracy and consistency of meaning

Oral Communication

1.3, 3.1, 3.3, 4.2, 4.5

• Clearly explains detailed information using language, tone and pace appropriate to audience
• Clarifies information effectively using active listening and questioning

Navigate the world of work

1.3, 2.2, 2.3, 2.4, 4.5, 4.6, 5.1, 5.3, 6.3

• Works independently or with others in making decisions to achieve organisational outcomes
• Takes full responsibility for following policies, procedures and legislative requirements and identifies organisational implications of new legislation or regulation
• Modifies or develops organisational policy and procedures to comply with legislative requirements and organisational goals

Interact with others

1.3, 1.4, 3.1, 3.3, 4.1, 4.2, 4.4

• Elicits feedback and provides feedback to others to improve self or workgroup behaviours
• Selects, implements and seeks to improve protocols governing communications to clients and co-workers in a range of work contexts
• Recognises the diversity in people and manages this diversity to improve workplace relations and practices

Get the work done

1.1-1.3, 2.1-2.4, 3.2, 4.1, 4.2, 4.4-4.6, 5.1-5.3, 6.2, 6.3

• Accepts responsibility for planning and sequencing complex tasks and workload, negotiating key aspects with others and taking into account capabilities, efficiencies and effectiveness
• Applies systematic and analytical decision-making processes for complex and non-routine situations
• Responds intuitively to problems requiring immediate resolution, drawing on past experiences to focus on the cause of a problem
• Investigates new and innovative ideas as a means to continuously improve work practices and processes through consultation, and formal and analytical thinking
• Uses digital technologies to access, enter, check and store information required to complete work tasks

Code and title 

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNSISV516 Allocate authorities and guidelines for distribution

FNSISV516A Allocate authorities and guidelines for distribution

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.