Modification History
Release |
TP Version |
Comments |
3 |
PSP12V1 |
Unit descriptor edited. |
2 |
PSP04V4.2 |
Layout adjusted. No changes to content. |
1 |
PSP04V4.1 |
Primary release. |
Unit Descriptor
This unit covers strategic financial analysis by specialist finance officers in the public sector. It includes analysing organisational issues, determining the current resource position of the organisation, and assisting in identifying and assessing resourcing strategies.
In practice, strategic financial analysis occurs in the context of other generalist or specialist work activities such as acting ethically, managing compliance with public sector legislation, managing resources, formulating business strategies etc.
No licensing, legislative, regulatory or certification requirements apply to this unit at the time of publication
Application of the Unit
Not applicable.
Licensing/Regulatory Information
Not applicable.
Pre-Requisites
Not applicable.
Employability Skills Information
This unit contains employability skills.
Elements and Performance Criteria Pre-Content
Elements are the essential outcomes of the unit of competency. |
Together, performance criteria specify the requirements for competent performance. Text in bold italics is explained in the Range Statement following. |
Elements and Performance Criteria
ELEMENT |
PERFORMANCE CRITERIA |
1 . Analyse organisational issues |
1.1 The financial management implications of the internal and external issues facing the organisation are identified. 1.2 Internal and external stakeholders are consulted and the impact of their expectations on financial management is identified. 1.3 Information is analysed to identify strategic financial management issues and the impact of legislative requirements. |
2 . Ascertain the current resource position of the organisation |
2.1 Existing strategic priorities are identified and the resource requirements of these are confirmed. 2.2 The economic viability of proposed goals and objectives is assessed and resource requirements are identified. 2.3 Resource assessments are prepared to confirm the current resource position and endorsement by management is sought in accordance with organisational policy and procedures. |
3 . Assist in identifying and assessing resourcing strategies |
3.1 The financial implications of alternative resourcing and program delivery strategies are considered in accordance with government policy. 3.2 Financial evaluation techniques are used to assess the effect and financial sensitivity of alternative strategies and program variations. |
Required Skills and Knowledge
This section describes the essential skills and knowledge and their level, required for this unit. |
Skill requirements Look for evidence that confirms skills in:
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Knowledge requirements Look for evidence that confirms knowledge and understanding of:
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Evidence Guide
The Evidence Guide specifies the evidence required to demonstrate achievement in the unit of competency as a whole. It must be read in conjunction with the Unit descriptor, Performance Criteria, the Range Statement and the Assessment Guidelines for the Public Sector Training Package. |
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Units to be assessed together |
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Overview of evidence requirements |
In addition to integrated demonstration of the elements and their related performance criteria, look for evidence that confirms:
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Resources required to carry out assessment |
These resources include:
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Where and how to assess evidence |
Valid assessment of this unit requires:
Assessment methods should reflect workplace demands, such as literacy, and the needs of particular groups, such as:
Assessment methods suitable for valid and reliable assessment of this competency may include, but are not limited to, a combination of 2 or more of:
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For consistency of assessment |
Evidence must be gathered over time in a range of contexts to ensure the person can achieve the unit outcome and apply the competency in different situations or environments |
Range Statement
The Range Statement provides information about the context in which the unit of competency is carried out. The variables cater for differences between States and Territories and the Commonwealth, and between organisations and workplaces. They allow for different work requirements, work practices and knowledge. The Range Statement also provides a focus for assessment. It relates to the unit as a whole. Text in bold italics in the Performance Criteria is explained here. |
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Internal issues may include: |
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External issues may include: |
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Stakeholders may include: |
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Analysis may include: |
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Assessment may include: |
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Resource position may include consideration of: |
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Policies and procedures may include: |
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Alternative resourcing strategies may include consideration of: |
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Financial evaluation techniques will vary depending on the nature of the strategy but may include: |
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Financial sensitivity testing may require consideration of possible variations in: |
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Unit Sector(s)
Not applicable.
Competency field
Financial Services.