Unit of competency Outline

Date retreived
22/07/2026 10:52 AM AWST

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Allocate authorities and guidelines for distribution

Allocate authorities and guidelines for distribution

Unit of competency
National Code
FNSISV516
State Code
AUS20
TGA Status
Replaced
DTWD Status
Transition (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
081103 - Insurance And Actuarial Studies
Original Release Date
16/09/2015
Nominal Hours
80
Description
This unit describes the skills and knowledge required to determine and allocate distribution authorities and guidelines.It applies to individuals working in job roles involving specialist knowledge and functions in a range of insurance sectors and may be applied within organisations of various sizes and across a range of client bases. It encompasses application of criteria for selection of distribution authorities, reaching agreement, monitoring performance and evaluating the effectiveness of the agreement.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. Provide feedback on and/or confirm authorities and guidelines
  • 1.1 Read and interpret draft authorities and guidelines
  • 1.2 Identify practical application of authorities and guidelines through market testing to determine need for variance
  • 1.3 Negotiate final form of authorities and guidelines with relevant parties to ensure they accommodate variations in workplace requirements and are within organisational policy and procedures
  • 1.4 Obtain authorised authorities and guidelines, and confirm in writing
2. Determine allocation of authorities and guidelines
  • 2.1 Determine criteria to be used as basis for allocation
  • 2.2 Ensure allocation is consistent with existing or updated distribution agreements
  • 2.3 Determine allocations within industry code of practice and relevant legislative requirements
  • 2.4 Ensure allocation enables achievement of desired result in accordance with business plan
3. Negotiate variations to allocated authorities and guidelines
  • 3.1 Negotiate variations where opportunities to maximise or adjust business returns are identified
  • 3.2 Base negotiation on all relevant information
  • 3.3 Ensure outcome of negotiation is accepted by parties
4. Allocate authorities and guidelines
  • 4.1 Advise allocations in writing in clear, concise and timely manner
  • 4.2 Provide training as appropriate and assess its effectiveness
  • 4.3 Record allocation of authorities and guidelines promptly and accurately to ensure records are current
  • 4.4 Verify understanding of authorities and guidelines, and record where appropriate
  • 4.5 Update variations to authorities and guidelines in accordance with organisational policy to ensure currency of operational procedures
  • 4.6 Undertake implementation procedures within relevant industry code of practice and legislative requirements
5. Monitor and review authorities and guidelines compliance
  • 5.1 Check submissions received for compliance with authorities and guidelines
  • 5.2 Monitor business trends and compliance variations to determine effectiveness of authorities and guidelines
  • 5.3 Rectify non-compliance with authorities and guidelines promptly to maintain business plan objectives
6. Evaluate effectiveness of authorities and guidelines
  • 6.1 Identify market trends to ensure evaluation is based on reliable information
  • 6.2 Assess trends to quantify impact on expected business
  • 6.3 Revise allocations in accordance with changes to code of practice, legislative and organisational policy requirements
No information
No information
Replaces
State Code National Code Title Type
D4254 FNSISV516A Allocate authorities and guidelines for distribution Unit of competency
Replaced By
State Code National Code Title Type
OCZ61 FNSISV526 Allocate authorities and guidelines for distribution Unit of competency
State Code National Code Title Type
AWE4 FNS51115 Diploma of General Insurance Qualification