Unit of competency Outline
Date retreived
22/07/2026 11:38 AM AWST
22/07/2026 11:38 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.
Complete settlement and confirmation processes
Complete settlement and confirmation processes
Unit of competency
National Code
FNSFMK504A
FNSFMK504A
State Code
D4126
D4126
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
29/07/2014
Field of Education
080101 - Accounting
Original Release Date
29/07/2014
Nominal Hours
40
Description
This unit describes the performance outcomes, skills and knowledge required to check dealing transaction documentation and complete confirmation and settlement processes.This unit may apply to job roles subject to licensing, legislative, regulatory or certification requirements so Commonwealth, State or Territory requirements should be confirmed with the relevant body.
Notes
Elements and Performance Criteria
1. Process transaction documentation
- 1.1. Transaction documentation is received from dealer and promptly checked for accuracy and completion according to organisational guidelines
- 1.2. Details on transaction documentation are entered into the organisation dealing system using appropriate technology
- 1.3. Organisational records are reviewed to ensure that master agreements are in place before confirmation processes are conducted
2. Complete confirmation processes
- 2.1. Organisational confirmation documentation is produced and forwarded to client for approval and authorisation
- 2.2. Authorised confirmation documentation is received by organisation and the financial transaction completed according to confirmed settlement procedures and organisational and industry requirements
- 2.3. Confirmation documentation is forwarded to client outlining settlement exchange details
RANGE STATEMENT
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Transaction documentation may include:
dealer slips.
Clients may include:
companies and organisations
members of the public
shareholders.
Settlement exchange details may include:
counterparty detailer
deal number
exchange amounts and currencies
exchange rates
floating rate
how settlement is taking place
transaction date
value date.
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Transaction documentation may include:
dealer slips.
Clients may include:
companies and organisations
members of the public
shareholders.
Settlement exchange details may include:
counterparty detailer
deal number
exchange amounts and currencies
exchange rates
floating rate
how settlement is taking place
transaction date
value date.
EVIDENCE GUIDE
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
interpret and comply with organisational and industry settlement and confirmation procedures
utilise specialist settlement systems
comprehend master agreement instructions.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to an integrated financial software system and data
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency
verbal or written questioning on underpinning knowledge and skills
evaluating samples of work
accessing and validating third party reports.
Guidance information for assessment
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
interpret and comply with organisational and industry settlement and confirmation procedures
utilise specialist settlement systems
comprehend master agreement instructions.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to an integrated financial software system and data
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency
verbal or written questioning on underpinning knowledge and skills
evaluating samples of work
accessing and validating third party reports.
Guidance information for assessment
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUR15 | FNSFMK504 | Complete confirmation and settlement processes | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| D722 | FNS51011 | Diploma of Financial Markets | Qualification |
| S710 | FNS41110 | Certificate IV in Financial Markets Operations | Qualification |