Elements and Performance Criteria

The Range Statement relates to the unit of competency as a whole. It allows for different work environments and situations that will affect performance.
The following variables may be present with training and assessment depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts. If bold italicised text is shown in Performance Criteria, details of the text are provided in the Range Statement.
Company policy and procedures may include:
operations manuals
internal control guidelines
computer system documentation
Related systems may include:
assets system
commissions and fees
receivables

reinsurance
holding/suspense accounts
tax related
claims
Systems controls:
protect against the corruption of payee name, address and/or bank account details
Payment documentation/facilities may include:
invoices
confirmation of receipt
stop payments
payment requests
delivery dockets
cheque cancellations
batch records
periodic approvals
authorisation slips
signature verifications
Industry and legislative requirements may cover:
Australian Accounting Standards
relevant Insurance Act
industry codes of practice
Consumer Credit legislation
Privacy Act
Taxation Act
Australian Securities and Investments Commission (ASIC) Code
Trade Practices Act
Stamp Duties Act
occupational health and safety (OH&S) acts and guidelines

EVIDENCE GUIDE
Assessment of performance requirements in the unit should be undertaken in an industry context. The Evidence Guide identifies the critical aspects, knowledge and skills to be demonstrated to confirm competency for the unit. Competency is demonstrated by performance of all stated criteria including the Range Statement applicable to the workplace.
Overview of assessment requirements
To achieve competency in this unit, a person must be able to demonstrate:
knowledge of industry and legislative requirements for processing payment documentation
knowledge of organisational policies and procedures for processing payment documentation
ability to enter data in organisational systems
ability to create payment facilities
ability to verify payments against documentation
ability make payments
ability to file necessary documentation
Critical aspects of evidence
Evidence required for demonstration of consistent performance:
Competence in this unit must be assessed over a period of time in order to ensure consistency of performance over the Range Statement and contexts applicable to the work environment.
Delivery/relationship to other units:
This unit may be assessed on its own or it may be assessed with other units that cover related skills and knowledge.
Evidence is most relevant when provided through an integrated activity, which combines the elements of competency for the unit, or a cluster of units of competency.
Assessment requirements
Method of assessment:
For valid and reliable assessment of this unit, evidence should be gathered through a range of methods to indicate consistent performance.
Assessment of this unit of competence will usually include observation of processes and procedures, oral and/or written questioning on underpinning knowledge and skills and other methods as required.
Context of assessment:
Assessment of performance requirements in this unit should be undertaken within the financial services industry context and should cover aspects of personal/financial responsibility and accountability.
Aspects of competency, including the attainment of relevant knowledge and skills, may be assessed in a relevant workplace, a closely simulated work environment, or other appropriate means that clearly meet industry competency requirements.
Resources required for assessment:
Unless otherwise specified, there are no significant resource implications for assessment of this unit, apart from access to a relevant workplace or closely simulated office environment and the use of a range of office equipment, technology and consumables. These may include standard commercial computer hardware, software, telephones, facsimiles, and other relevant office equipment.