NZQA Expiring unit standard
24762 version 2
Page 1 of 4
Title
Work with specialist and outsourced services in the financial
services industry
Level
4
Credits
2
Purpose
People credited with this unit standard are able to, in the
financial services industry:
– demonstrate and apply knowledge of organisational policy
for limitations of authority and referrals;
– work with specialists or other professionals; and
– monitor and review effectiveness of referral arrangements.
Classification
Financial Services > Financial Services - Organisational Skills
Available grade
Achieved
Explanatory notes
1
This unit standard has been based on the Australian unit of competency
FNSICORG402B, Work with specialist and outsourced services 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
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 Transactions Reporting Act 1996;
Income Tax Act 2007;
KiwiSaver Act 2006;
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.
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA Expiring unit standard
4
24762 version 2
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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.
Outcomes and evidence requirements
Outcome 1
Demonstrate and apply knowledge of organisational policy for limitations of authority and
referrals in the financial services industry.
Evidence requirements
1.1
Limitations of own expertise and authority are identified and explained in
accordance with legislation and organisational policy.
1.2
Specialist skill, expertise and/or authority required by the organisation are
identified and explained.
Range
may include – sales and marketing specialists, information
technology (IT) specialists, trustees, employer relationship
managers, insurers, investment managers, communications and
publications specialists, operational specialists, actuarial support,
fund administrators, lawyers, solicitors, intermediaries, auditors,
accountants, financial advisers, brokers.
1.3
Organisational processes and procedures for referrals to industry specialists are
identified and applied appropriately in making referrals.
1.4
Details about the customer, the reasons for the referral and instructions to the
specialist are documented in accordance with organisational procedures.
Outcome 2
Work with specialists or other professionals in the financial services industry.
Range
outsourced, internal.
Evidence requirements
2.1
Skill, expertise and level of authority of industry specialists or other professional
are identified and documented in accordance with legislation and organisational
procedures.
2.2
Documented instructions are provided to the specialist in accordance with
organisational procedures.
2.3
The referral is monitored by the referrer to check that instructions are completed
as agreed and within required timeframes.
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA Expiring unit standard
24762 version 2
Page 3 of 4
Outcome 3
Monitor and review effectiveness of referral arrangements in the financial services
industry.
Evidence requirements
3.1
The performance outcomes of specialist services are reviewed with the
customer, and evaluated against customer needs and expectations with any
changes negotiated, in accordance with organisational procedures.
may include – the extent of service, financial plan, written
recommendation, statement of advice, customer record or other
customer related information or communication.
Range
3.2
Specialist performance is documented by referrer and communicated to
specialist in accordance with organisational procedures.
3.3
Review process is explained to the customer and further review periods are
established in accordance with organisational procedures.
3.4
Periodic review of outsourced specialist performance and/or referral processes
and procedures is implemented, and recommendations to improve or maintain
effectiveness are made, in accordance with organisational procedures.
may include – increased or decreased service, increased
communication and/or documentation, increased standards of
performance, changes in the way service is implemented,
disengagement of outsourced specialist service.
Range
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
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.
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA Expiring unit standard
24762 version 2
Page 4 of 4
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