Unit of competency Outline
Date retreived
22/07/2026 9:51 AM AWST
22/07/2026 9:51 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.
Review performance of superannuation funds against regulatory and contractual requirements
Review performance of superannuation funds against regulatory and contractual requirements
Unit of competency
National Code
FNSSUP517
FNSSUP517
State Code
OCI13
OCI13
TGA Status
Current
Current
DTWD Status
Approved
Approved
State Implementation and Classification
Approved Date
11/03/2021
Field of Education
080101 - Accounting
Original Release Date
11/03/2021
Nominal Hours
80
Description
This unit describes the skills and knowledge required to identify performance requirements, develop and implement systems and procedures, monitor and report compliance performance, and advise on required changes to regulatory and contractual compliance requirements. It involves developing and implementing systems and procedures, monitoring and reporting performance, and advising on changes relating to performance of the fund against regulatory and contractual compliance requirements.The unit applies to those responsible for ensuring quality practices and industry requirements are effectively implemented, maintained and improved.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Establish superannuation fund performance requirements
- 1.1 Identify performance requirements according to operating guidelines and legislative requirements
- 1.2 Document performance requirements
- 1.3 Establish performance criteria for meeting requirements
2. Develop and implement systems and procedures to meet requirements
- 2.1 Prepare action plans to meet requirements
- 2.2 Implement applicable operational guidelines and organisational policies and procedures
- 2.3 Develop and document contingency plans to ensure requirements are met in extraordinary situations according to organisational policies and procedures
3. Monitor compliance with required performance
- 3.1 Review regulatory and contractual performance requirements against superannuation fund and confirm compliance with organisational policies and procedures
- 3.2 Update procedures, guidelines and policies in response to changed regulatory, legislative, organisational policy changes and performance variation
4. Report and advise on required changes
- 4.1 Document performance reviews
- 4.2 Identify anomalies and variations and document according to organisational policies and procedures
- 4.3 Report anomalies and variations to required stakeholders within required timeframes
- 4.4 Support advice and recommendations for change with action plans
No information
No information
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUT37 | FNSSUP507 | Review compliance with regulatory and contractual requirements | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| BFX5 | FNS50720 | Diploma of Superannuation | Qualification |
| BHW8 | FNS50722 | Diploma of Superannuation | Qualification |