Posted: May 29th, 2015
Complaince
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Assessment Task Part A–Australian Privacy Principles
Q1. I have completed the Privacy Quiz in Webclass:
YES NO
Assessment Task Part B– Industry Codes
Q2. I have completed the Code of Practice Quiz in Webclass:
YESNO
Assessment Task Part C– Regulatory Bodies
Q3. I have completed the Regulatory Bodies Quiz in Webclass:
YESNO
Assessment Task Part D–Maintaining Organisational Compliance
Refer to section 2 in the Compliance workbook and conduct your own research and refer to workplace compliance procedures and source documents to answer these questions.
Q4. List the steps involved in developing workplace procedures
Type your answer here
Q5. How can an organisation check that staff are correctly implementing compliance requirements? Give 2 examples of how your organisation monitors / audits compliance.
1.Type your answer here
2.Type your answer here
Q6. In the finance industry, staff are often given strict rules in respect to authority and delegation levels. This is to prevent breaches of legislation that could potentially lead to serious losses.
- Provide an example of how authority levels vary in your organisation.
Type your answer here
- What systems or checks are put in place to ensure that staff are working within their designated level of authority?
Type your answer here
Answer the following questions about one of the main laws or compliance areas that impact your work. (other than the 3 areas covered in Part A)
Review all parts of the question before choosing an appropriate field that will enable you to answer all parts.
The laws or compliance area: insert its name here
Q4 How does that law affect your individual work responsibilities i.e. what things must you do to ensure that you have complied with the laws. Explain at least 2 key features and requirements of the legislation
Insert your answer here
Q5A. Explain any requirements that the customer must meet for compliance
Insert your answer here
- What workplace documents can be used to assist with compliancee.g. prompt sheets, forms, memos.
Insert your answer here
Assessment Task Part E–Writing Compliance Procedures
For this part of the assessment, you are required to interpret the sample procedure provided, and rewrite it so it is more user friendly. Refer to Section 2 in the Compliance 2014 workbook for assistance on processes to help you to interpret procedures.
Q7 Read the following sample compliance procedure and rewrite it so that it meets the following criteria:
- Explains why the procedure is needed
- Uses plain English
- Clearly tells the relevant staff member what they need to do
- Uses short, and clear sentences
- Includes contact details for clarification
Your target audience should include staff new to a frontline role.
Start of Sample Procedure ………..
CUSTOMER IDENTIFICATION PROCEDURE
As part of Bank’s overall compliance with Anti-Money Laundering Act, it is the policy of bank tohave a clear and concise understanding of all bank customer practices in order to avoid
criminal exposure to the bank by any customer who would use the bank’s resources forillicit purposes. The objective of this procedure is to attempt to ensure the immediatedetection and identification of customers and any suspicious activity at the institution.
The bank recognizes that appearances can be deceiving. Potential customers of afinancial institution may appear to be legitimate, but in reality could be conducting illicitactivities through the financial institution.
The term “Customer” will include individuals, corporations, partnerships, trusts, and anysignatory on an account.
The term “Account” will include deposit accounts, transaction or savings accounts, andcredit accounts or other extensions of credit.
Accordingly, it is the policy of the bank toincorporate the following principles into its business practices:
When a customer calls to obtain account details over the phone the Operational Staff must conduct the 3 step identity confirmation process.
Failure by the customer to answer the 3 questions correctly will require them to answer a further 2 detailed questions. Failure to answer either of these means they will not be given information.
The questions will be prompted by the computer system and will include items like address, date of birth, mothers maiden name, last transaction…
Where a customer gets a question wrong that relates to their current address or phone number … Operational Staff must send the customer a change of details form. This is to be sent to the email address on system.
End of Procedure ………………….
Q7. Rewrite this procedure.
Insert your answer here
Q8. What is the best way/s to inform your work colleagues about this procedure ? Why is this the best option?
Insert your answer here
Q9. What would be the best approach if you identified that you and your work colleagues had in the past misunderstood the compliance procedure and had not been applying it. Justify your choice of action.
Insert your answer here
Assessment Task Part F – Compliance Case
Q10. Assume that you have been given the role of Compliance Officer for your organisation.Answer the following questions based on the most appropriate scenario for your industry from those listed below. Contact the College if none of these case study options are suitable.
- Identify what staff may be doing wrong
- Indicate the legislation or compliance obligation that is being breached
- What actions or procedures could you put in place to stop this from happening?
- What measures or audits would you implement to confirm ongoing compliance?
- How would you explain the ethical considerations and how they impact on the compliance requirements
- Give an example when you must involve/consult with your supervisor or other colleagues to ensure compliance (e.g. if above your authority or knowledge level)
- What records need to be maintained to show internal compliance procedures were followed?
Scenario Option Chosen:Option 2: Collection Case Study
Insert your answer here
Option 2. Collections Case Study
Kristoff works as a self-employed Mercantile Agent in NSW. He is very effective at tracking down skips! A brilliant technique he uses is to find out the circle of friends that the person may have associated with and make contact with them. One of the ploys he uses is to leave his contact details pretending he is from the Lotteries Office trying to track down a winner.
If that doesn’t work – he makes sure the persons friends and neighbours know their friend is behind with their debt and tries to flush them out by embarrassing them. He also tracks down the debtors grandparents and pretends to be a long lost school friend of their grandchild.
He tells the story that if a debtor asks him not to go to their house so their family won’t find out – he only agrees if he gets a partial payment from them.
Assessment Task Part G–Training Strategies
Refer to section 3 in the Compliance workbook and conduct your own research and refer to workplace compliance procedures and source documents to answer these questions.
Q11. Refer back to the legislation you looked at in Q4.
Identify a range of 3 resources that could be used to “stay – up to date” about this legislation. List them and explain why they would be useful. Your list may include:
- Web sites
- Industry magazines
- Subscription services such as CCH
- Textbooks
- Professional advisers who update you
- Internal memos or circulars
- Internal staff who can assist you
Insert your answer here
Q12. What internal and external training or other professional development activities can you undertake to stay up to date in compliance areas related to your role?
Insert your answer here
Q13. Who would be a good Mentor or Coach to help you learn more about a compliance area that impacts your job? What would make them suitable for this important role? If you don’t currently have one, describe the type of person and the experience they would have to be a good mentor.
Insert your answer here
Assessment Task Part H–Industry Codes
A key aspect of this unit is the ability to conduct your own research and interpret codes of practice. Conduct relevant research to answer these questions.
Q14. Complete the following questions –refer to real estate code practice
Industry Code of Practice
- Investigate and explain what Industry Codes of Practice apply to your profession.
- Supply a copy or look up where the Code can be accessed from e.g. webpage
- Identify and explain in your own words the meaning of 3 significant aspects of the Code/s.
- What actions are needed to ensure that you fulfil the obligations and requirements under the Code/s
- How would you “audit” compliance of the code in your organisation if this was your responsibility
Insert your answer here
Q15. Complete the following questions – Refer to real Estate Sales QLD
Complaints and Dispute Resolution Procedures
- Investigate and explain what Complaints and Disputes Resolution system requirements apply to your profession.
- Look up what section of legislation or Code/s requires the complaints and disputes system to be in place.
- Supply a copy of your process to us or tell us how it can be accessed from e.g. webpage
- Identify and explain in your own words the meaning of 3 significant aspects of the System.
- What actions are needed to ensure that your organisation fulfils the obligations and requirements under the system
- Indicate what documents or records need to be maintained
- Methods of recording evidence of ongoing staff training
- Who are the key Roles / authorities that are involved in this process
Insert your answer here
Assessment Task Part I–Key Legislation
A key aspect of this unit is the ability to conduct your own research and interpret relevant legislation. Conduct relevant research to answer these questions.
Q16. From the list below, choose an option that is relevant to your role and attach your answer addressing all parts.
Chosen option:Option 6: Taxation Legislation – Real Este Sales QLD
Insert your answer here
Option 6. Taxation Legislation
- Investigate and explain what Taxation legislation requirements apply to your profession.
- Look up the main pieces of legislation that apply.
- Identify and explain in your own words the meaning of 3 significant aspects of the requirements.
- Identify 3 sources of information on the ATO website that would assist you or your clients to understand their needs
- What actions are needed to ensure that you fulfil the obligations and requirements under these requirements
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