Unit of competency Outline

Date retreived
21/07/2026 11:48 PM AWST

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Allocate authorities and guidelines for distribution

Allocate authorities and guidelines for distribution

Unit of competency
National Code
FNSISV526
State Code
OCZ61
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
02/02/2021
View on TGA
State Implementation and Classification
Approved Date
22/04/2021
Field of Education
081103 - Insurance And Actuarial Studies
Original Release Date
22/04/2021
Nominal Hours
80
Description
This unit describes the skills and knowledge required to determine and allocate distribution authorities and guidelines. It involves applying criteria for selecting distribution authorities, reaching agreement, monitoring performance and evaluating the effectiveness of the agreement.The unit applies to those working in job roles involving specialist knowledge and functions in a range of insurance sectors, in organisations of various sizes and across a range of client bases.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Users are advised to check with the relevant state and territory regulatory authorities to confirm those requirements.
Notes
Elements and Performance Criteria
1. Provide feedback on and 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 required stakeholders and confirm they accommodate variations in workplace requirements and comply with organisational policies and procedures
  • 1.4 Obtain authorised authorities and guidelines, and obtain written confirmation
2. Determine allocation of authorities and guidelines
  • 2.1 Determine criteria to be used as basis for allocation
  • 2.2 Confirm allocation is consistent with existing or updated distribution agreements
  • 2.3 Determine allocations according to industry codes of practice and legislative requirements
  • 2.4 Confirm allocation enables achievement of desired result in accordance with business plan
3. Negotiate variations to allocated authorities and guidelines
  • 3.1 Identify opportunities to maximise or adjust business returns
  • 3.2 Negotiate variations where required
  • 3.3 Confirm outcome of negotiation is accepted by required stakeholders
4. Determine and implement authorities and guidelines
  • 4.1 Provide advice on allocations
  • 4.2 Provide training as required and assess its effectiveness
  • 4.3 Record allocation of authorities and guidelines and confirm records are current
  • 4.4 Verify understanding of authorities and guidelines with required stakeholders and record as required
  • 4.5 Update variations to authorities and guidelines and confirm currency of organisational policies
  • 4.6 Undertake implementation procedures in compliance with required industry codes 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 to maintain business plan objectives
6. Evaluate effectiveness of authorities and guidelines
  • 6.1 Identify market trends and confirm evaluation is based on reliable information
  • 6.2 Assess trends to quantify impact on expected business
  • 6.3 Revise allocations according to changes to codes of practice, legislative and organisational policy requirements
No information
No information
Replaces
State Code National Code Title Type
AUS20 FNSISV516 Allocate authorities and guidelines for distribution Unit of competency
State Code National Code Title Type
BFX4 FNS51120 Diploma of General Insurance Qualification