Unit of competency Outline

Date retreived
23/07/2026 4:45 AM AWST

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Assess, allocate and supervise work within the personal trustee sector

Assess, allocate and supervise work within the personal trustee sector

Unit of competency
National Code
FNSPRT503
State Code
AUS80
TGA Status
Replaced
DTWD Status
Replaced
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
080303 - Human Resource Management
Original Release Date
16/09/2015
Nominal Hours
60
Description
This unit describes the skills and knowledge required to manage and supervise a team responsible for preparing and administering wills, estates, trusts, attorneyships, financial administration orders and other work relevant to the personal trustee sector.It applies to individuals working as senior personal trust officers who are proficient administrators and who have highly-developed interpersonal, managerial and communication skills.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. Assess file and work required
  • 1.1 Assess client file to determine client requirements, to allocate to appropriate team member and external adviser(s) where required
  • 1.2 Recognise and manage risk management and insurance planning issues, and taxation and retirement planning requirements when required
  • 1.3 Identify and analyse more complex issues within client file
  • 1.4 Identify and explain appropriate process for handling each complex issue to client, or refer to appropriate external adviser as required
2. Allocate files
  • 2.1 Allocate and coordinate file with appropriate team member, and external adviser(s) where required, based on organisational criteria and standards
  • 2.2 Allocate files equitably and with due regard for level of competency and experience of team member and external adviser(s)
  • 2.3 Authorise actions to be undertaken by team member and external adviser(s)
3. Monitor work progress
  • 3.1 Review and check progress of work according to legislative requirements for legal implications and complications
  • 3.2 Ensure team members adhere to terms stipulated in client file, and evaluate quality of prepared legal documents and rulings made about doubtful clauses
4. Supervise progress
  • 4.1 Regularly review file management progress with team member and external adviser to ensure responsibilities are undertaken in timely and professional manner consistent with organisational policy and procedures
  • 4.2 Provide prompt advice, information and support to team member and external adviser(s) when required
  • 4.3 Closely monitor problem files and manage any disputes and complications in timely and professional manner, and according to ethical guidelines
No information
No information
Replaces
State Code National Code Title Type
D4303 FNSPRT503A Allocate, assess and supervise work within the personal trustee sector Unit of competency
Replaced By
State Code National Code Title Type
OEB89 FNSPRT513 Assess, allocate and supervise work within the personal trustee sector Unit of competency
State Code National Code Title Type
AVY3 FNS50515 Diploma of Personal Trustees Qualification
AZJ5 FNS52015 Diploma of Personal Trusts Qualification