NZQA Expiring unit standard
24775 version 2
Page 1 of 4
Title
Administer a new or existing specialist financial portfolio in the
financial services industry
Level
4
Credits
3
Purpose
People credited with this unit standard are able to, in the
financial services industry:
– identify changes to a financial portfolio;
– assist customer to manage a financial portfolio; and
– maintain a financial portfolio.
Classification
Financial Services > Financial Services - Administration
Available grade
Achieved
Explanatory notes
1
This unit standard has been based on the Australian unit of competency
FNSRETA403B, Administer portfolios available at http://ntis.gov.au. This is
supported and endorsed by the Australian standard setting body Innovation and
Business Services Australia and ETITO (ElectroTechnology Industry Training
Organisation).
2
Assessment against this unit standard may be on job, or off job in a simulated work
environment or a combination of these within the financial services industry context.
3
References
New Zealand Bill of Rights Act 1990;
Cheques Act 1960;
Commerce Act 1986;
Companies Act 1993;
Consumer Guarantees Act 1993;
Credit Contracts and Consumer Finance Act 2003;
Electronic Transactions Act 2002;
Fair Trading Act 1986;
Financial Reporting Act 1993;
Financial Transactions Reporting Act 1996;
Health and Safety in Employment Act 1992;
Human Rights Act 1993;
Income Tax Act 2007;
Injury Prevention, Rehabilitation, and Compensation Act 2001;
Insurance Law Reform Act 1977;
Insurance Law Reform Act 1985;
KiwiSaver Act 2006;
Life Insurance Act 1908;
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA Expiring unit standard
24775 version 2
Page 2 of 4
NZ IFRS (New Zealand equivalent to International Financial Reporting Standards)
available from http://www.nzica.com;
Privacy Act 1993;
Securities Act 1978;
Securities Markets Act 1988;
Superannuation Schemes Act 1989;
Trustee Act 1956;
Trustee Amendment Act 1988;
industry codes of practice;
and all subsequent amendments and replacements.
4
All activities must comply with any policies, procedures, and requirements of the
organisations involved; the standards of relevant professional bodies including codes
of ethics; and any relevant legislative and/or regulatory requirements.
5
Definition
Financial portfolio may include but is not limited to – a range of insurance products
for a customer, a range of investment products for a customer, a single managed
fund that includes various investment types.
Outcomes and evidence requirements
Outcome 1
Identify changes to a financial portfolio in the financial services industry.
Evidence requirements
1.1
Financial portfolio is monitored to identify any changes that may be required,
and changes are explained in terms of actions required.
Range
1.2
monitoring may include but is not limited to – manual records
checking, information from third party organisation monitoring
portfolio, generated by portfolio management computer
technologies;
changes may include – action required on maturing
products/annual review, changes in customer circumstances,
changing market, economic environment, changes in company
policy, changes in legislation, late payment, and collection
arrangements, non-renewals, altered renewals.
Periodic liaison is arranged with customers to ensure that their ongoing
portfolio/service needs are met and to address any change in circumstances.
Range
may include – through written and/or verbal communication, in
response to enquiry, identified from continuous monitoring.
Outcome 2
Assist a customer to manage a financial portfolio in the financial services industry.
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA Expiring unit standard
24775 version 2
Page 3 of 4
Evidence requirements
2.1
Information is supplied to the customer in accordance with changes to financial
product and/or service requirements.
2.2
Customer’s awareness of changes in financial portfolio requirements is verified
in writing.
2.3
Actual/potential problem areas are identified with the customer in terms of the
management of the financial portfolio.
Outcome 3
Maintain a financial portfolio in the financial services industry.
Evidence requirements
3.1
Status of a financial portfolio is identified, assessed and reviewed, within level of
authority.
3.2
Relevant documents are completed as required, and reviewed to meet
organisational and legislative requirements.
relevant documentation may include – proposals, service
agreements, disclosures, cover notes, policies, schedules, plans,
renewals, financial prospectuses, bonds, financial portfolios, share
certificates.
Range
3.3
Relevant documents are checked for accuracy and any errors or omissions are
documented and rectified in accordance with organisational procedures.
3.4
Completed documents are generated and despatched to customers within
timelines, in accordance with organisational and legislative requirements.
3.5
Information systems are accurately updated, recorded and signed off in
accordance with organisational procedures.
3.6
Relevant documents are accurately filed in accordance with organisational and
legislative requirements.
This unit standard is expiring. Assessment against the standard must take place by
the last date for assessment set out below.
Status information and last date for assessment for superseded versions
Process
Version Date
Last Date for Assessment
Registration
1
20 June 2008
31 December 2017
Review
2
18 June 2014
31 December 2017
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA Expiring unit standard
24775 version 2
Page 4 of 4
Consent and Moderation Requirements (CMR) reference
0003
This CMR can be accessed at http://www.nzqa.govt.nz/framework/search/index.do.
Please note
Providers must be granted consent to assess against standards (accredited) by NZQA,
before they can report credits from assessment against unit standards or deliver courses
of study leading to that assessment.
Industry Training Organisations must be granted consent to assess against standards by
NZQA before they can register credits from assessment against unit standards.
Providers and Industry Training Organisations, which have been granted consent and
which are assessing against unit standards must engage with the moderation system that
applies to those standards.
Requirements for consent to assess and an outline of the moderation system that applies
to this standard are outlined in the Consent and Moderation Requirements (CMR). The
CMR also includes useful information about special requirements for organisations wishing
to develop education and training programmes, such as minimum qualifications for tutors
and assessors, and special resource requirements.
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016