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FNSPRAC701B

Prepare, supervise and monitor application of practice guidelines

Unit Descriptor This unit describes the functions involved in implementing organisation guidelines in a practice providing professional services or business unit.

ELEMENTPERFORMANCE CRITERIA
1 . Establish scope of the practice
  1. The scope of the practice or business unit including any service specialisations and restrictions are identified and documented in the organisation guidelines

  2. Key external relationships are identified and documented in the organisation guidelines

  3. Intended client groups are identified and documented in the organisation guidelines

2 . Identify legislation, regulations and codes of practice relevant to the practice
  1. The scope of the practice is matched to legislation, regulations and codes of practice and compliance issues and procedures identified

  2. The scope of the practice is matched to industry codes of practice and compliance issues and procedures are identified

  3. Compliance issues and procedures are incorporated into the practice guidelines

  4. Ethical procedures and standards for the practice are established and incorporated into the guidelines

3 . Establish strategies for the delivery of services
  1. Key positions, personnel, job descriptions and authorities are established for the practice and documented in the organisation guidelines

  2. Administrative procedures including information flow requirements are established and documented in the organisation guidelines

  3. Internal and external resources available to assist in the delivery of services to clients are identified and incorporated into the organisation guidelines

4 . Arrange for distribution of information on organisation guidelines
  1. Organisation guidelines are distributed to all staff

  2. Mechanisms for distributing updates and amendments are established

  3. Opportunities for feedback and interpretation requests are established

  4. Briefings for new staff on the guidelines are included as part of induction procedures

  5. Sections of guidelines relevant to clients including client rights, performance standards, complaint procedures etc., are communicated to clients and displayed where appropriate

5 . Implement and monitor operational procedures and guidelines
  1. Client service is established to requirements in organisation guidelines

  2. Reporting and monitoring procedures are established

  3. Breaches of guidelines are identified and corrective action taken





Key CompetencyExamples of ApplicationPerformance
Level
How can information be collected, analysed and organised?
How are ideas and information communicated within this competency?
How are activities planned and organised?
How are problem solving skills applied?
How are mathematical ideas and techniques used?
How is use of technology applied?
How is team work used within this competency?

Range Statement

Key external relationships may include:

Legislation and regulations may include:

Codes of practice in the finance industry include but are not limited to those relating to:

Administrative procedures may include:

Client service may be pre, point of, or post sale and may include:

Reporting and monitoring procedures are established for:

Corrective action may include:


Evidence Guide

Overview of assessment

To achieve competency in this unit, a person must be able to demonstrate:

Evidence required for demonstration of consistent performance:

Delivery/assessment relationship to other units:

Method of assessment:

Context of assessment:

Resources required for assessment: