Unit of competency Outline

Date retreived
22/07/2026 9:55 PM AWST

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Lead ethical work practices in an insurance brokerage

Lead ethical work practices in an insurance brokerage

Unit of competency
National Code
FNSIBK607
State Code
AUR61
TGA Status
Deleted
DTWD Status
Deleted
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
16/09/2015
Field of Education
081103 - Insurance And Actuarial Studies
Original Release Date
16/09/2015
Nominal Hours
70
Description
This unit describes the skills and knowledge required to provide leadership in the application of ethical work practices in an insurance brokerage. It applies to individuals who use specialised knowledge, systematic approaches and analytical skills to provide leadership in managing strategic organisational activity.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Notes
Elements and Performance Criteria
1. Evaluate ethical standards and issues impacting on business and professional goals
  • 1.1 Research legal and ethical framework against which professional practices are to be reviewed
  • 1.2 Identify emerging trends and developments in corporate governance and accountabilities that may impact on insurance broking sector
  • 1.3 Monitor brokerage work practices to identify compliance with relevant legislation and issues likely to impact on business directions
  • 1.4 Review internal service standards, policies and operations within brokerage
  • 1.5 Assess brokerage performance against industry standards, compliance obligations and internal business standards
  • 1.6 Evaluate findings to identify areas within brokerage where ethical standards are required or modifications to existing standards needed.
2. Set future goals and strategies to achieve ethical standard outcomes
  • 2.1 Determine goals and directions for ethical standards in brokerage
  • 2.2 Identify strategies and practices to achieve ethical standards outcomes
  • 2.3 Establish measures of service performance that provide accurate and accessible information on ethics as part of service provision
3. Develop implementation plan for ethical standards
  • 3.1 Review resources to achieve ethical broking goals
  • 3.2 Identify resources required to implement strategies
  • 3.3 Identify performance measures to determine if planned outcomes are achieved and to identify variations to plan
  • 3.4 Establish monitoring system to track compliance with ethical standards
4. Analyse own professional practice
  • 4.1 Benchmark own performance against recognised industry standards for professional practice
  • 4.2 Analyse personal business practices, systems and resources to determine effectiveness and areas for improvement
  • 4.3 Identify issues likely to impact on ability to provide service delivery ethically and likely impact on professional practice goals
  • 4.4 Define ethical practice goals and strategies to achieve them
No information
No information
Replaces
State Code National Code Title Type
D4200 FNSIBK605A Manage insurance brokerage service performance Unit of competency
State Code National Code Title Type
AWE0 FNS60115 Advanced Diploma of Insurance Broking Qualification