Unit of competency Outline
Date retreived
23/07/2026 7:33 AM AWST
23/07/2026 7:33 AM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Supervise and monitor operational guidelines in a superannuation organisation
Supervise and monitor operational guidelines in a superannuation organisation
Unit of competency
National Code
FNSSUP506A
FNSSUP506A
State Code
D4348
D4348
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
29/07/2014
Field of Education
081105 - Investment And Securities
Original Release Date
29/07/2014
Nominal Hours
50
Description
This unit describes the performance outcomes, skills and knowledge required to identify organisation operational guidelines and practices, supervise their implementation, distribute information on operational guidelines to staff, and monitor operational procedures and guidelines in an area or department within the organisation.This unit is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements including legislation administered by the Australian Securities and Investments Commission (ASIC).
Notes
Elements and Performance Criteria
1. Identify the organisation's operational guidelines and practices
- 1.1. Documented procedures that guide the operation of the organisation are identified and read
- 1.2. Practices that implement the operational guidelines are identified
- 1.3. Compliance requirements in the implementation of operational guidelines are identified
- 1.4. Industry codes of practice relevant to the implementation of operational guidelines are identified
- 1.5. Ethical standards in the implementation of operational guidelines are identified
- 1.6. Performance measures and operational outcomes are identified
2. Supervise the implementation of operational guidelines
- 2.1. Key positions, personnel, job descriptions and authorities are identified
- 2.2. Performance of staff, systems and resources is measured and assessed in a systematic way
- 2.3. Support is arranged to ensure operational guidelines are being implemented
- 2.4. Conformance of staff, systems and resources with operational guidelines is regularly assessed
- 2.5. Operational guidelines are periodically reviewed for effectiveness
- 2.6. Improvements to operational guidelines are identified and acted on according to organisation requirements
3. Distribute information on operational guidelines to staff
- 3.1. Operational guidelines are distributed to all relevant staff
- 3.2. Updates and amendments are distributed as required
- 3.3. Feedback and interpretation requests are received and responded to according to organisation guidelines
- 3.4. Briefings for new staff on the guidelines are provided as part of induction procedures
- 3.5. Sections of guidelines relevant to clients including client rights, performance standards and complaint procedures are communicated to clients and displayed where appropriate
4. Monitor operational procedures and guidelines
- 4.1. Client service is monitored to ensure operational guidelines are being implemented effectively and service standards are being met
- 4.2. Performance of staff, systems and resources is periodically assessed against organisation guidelines and objectives
- 4.3. Documentation on the supervision and monitoring of operational guidelines is managed
- 4.4. Implementation of operational guidelines is regularly monitored for compliance with relevant legislation and codes of practice
- 4.5. Breaches of guidelines are identified and staff counselled where required
RANGE STATEMENT
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that 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) may also be included.
Operational guidelines include:
data input documents
feedback mechanisms
instruction sheets
reports
service timetables/response times.
Performance measures and operational outcomes may include:
individual, team, area and/or organisation goals
job role outcomes
Key Performance Indicators (KPIs)
performance targets
service standards and targets.
Support may include:
additional expertise
additional resources
communication tools
documentation
human resource support
procurement of supplies
technical repairs
training, coaching or mentoring.
Systems and resources may include:
administrative systems
documentation systems
human resources
information systems
job rotations
resource supplies
work team systems.
Communication may include:
electronic
individual and group
meetings
verbal
in writing.
Client service may be pre or post sales and may include:
complaints handling
conservation activity
enquiries
policy changes
reports
timely and accurate documentation
written communication.
Service standards may include:
accuracy rates
completion dates
data availability
document presentation
procedures
response times
staff communication.
Relevant legislation and codes of practice may include:
anti-discrimination legislation
Corporations Act
Family Law Legislation Amendment Superannuation Acts
Financial Services Reform Act (FSRA)
Income Tax Assessment Act
Insurance Act
Privacy Act
Retirement Savings Account Act
Superannuation (Resolution of Complaints) Act
Superannuation (Unclaimed Moneys and Lost Members) Act
Superannuation Contributions Tax (Assessment and Collection) Act (surcharge)
Superannuation Guarantee (Administration) Act (SGAA)
Superannuation Industry (Supervision) Act (SIS)
Superannuation Industry (Supervision) Regulations.
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that 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) may also be included.
Operational guidelines include:
data input documents
feedback mechanisms
instruction sheets
reports
service timetables/response times.
Performance measures and operational outcomes may include:
individual, team, area and/or organisation goals
job role outcomes
Key Performance Indicators (KPIs)
performance targets
service standards and targets.
Support may include:
additional expertise
additional resources
communication tools
documentation
human resource support
procurement of supplies
technical repairs
training, coaching or mentoring.
Systems and resources may include:
administrative systems
documentation systems
human resources
information systems
job rotations
resource supplies
work team systems.
Communication may include:
electronic
individual and group
meetings
verbal
in writing.
Client service may be pre or post sales and may include:
complaints handling
conservation activity
enquiries
policy changes
reports
timely and accurate documentation
written communication.
Service standards may include:
accuracy rates
completion dates
data availability
document presentation
procedures
response times
staff communication.
Relevant legislation and codes of practice may include:
anti-discrimination legislation
Corporations Act
Family Law Legislation Amendment Superannuation Acts
Financial Services Reform Act (FSRA)
Income Tax Assessment Act
Insurance Act
Privacy Act
Retirement Savings Account Act
Superannuation (Resolution of Complaints) Act
Superannuation (Unclaimed Moneys and Lost Members) Act
Superannuation Contributions Tax (Assessment and Collection) Act (surcharge)
Superannuation Guarantee (Administration) Act (SGAA)
Superannuation Industry (Supervision) Act (SIS)
Superannuation Industry (Supervision) Regulations.
EVIDENCE GUIDE
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
monitor operational procedure and guidelines against organisation objectives and relevant legislation and codes of practice
counsel staff when breaches in guidelines are identified
identify and address factors which may affect performance of staff, systems and/or resources
evaluate performance against fund requirements and form recommendations and/or make recommendations
implement and monitor performance measurement systems.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to organisation financial records
access to organisation policies and procedures.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity, which combines the elements of competency for the unit, or a cluster of related units of competency
observing processes and procedures in workplaces
verbal or written questioning on underpinning knowledge and skills
evaluating samples of work
accessing and validating third party reports
setting and reviewing workplace business simulations or scenarios.
Guidance information for assessment
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
monitor operational procedure and guidelines against organisation objectives and relevant legislation and codes of practice
counsel staff when breaches in guidelines are identified
identify and address factors which may affect performance of staff, systems and/or resources
evaluate performance against fund requirements and form recommendations and/or make recommendations
implement and monitor performance measurement systems.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to organisation financial records
access to organisation policies and procedures.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity, which combines the elements of competency for the unit, or a cluster of related units of competency
observing processes and procedures in workplaces
verbal or written questioning on underpinning knowledge and skills
evaluating samples of work
accessing and validating third party reports
setting and reviewing workplace business simulations or scenarios.
Guidance information for assessment
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUT33 | FNSSUP506 | Supervise and monitor operational guidelines in a superannuation organisation | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| D720 | FNS50711 | Diploma of Superannuation | Qualification |