Course Title: Establish, supervise and monitor practice systems to conform with legislation and regulations
Part B: Course Detail
Teaching Period: Term2 2019
Course Code: BUSM8845C
Course Title: Establish, supervise and monitor practice systems to conform with legislation and regulations
School: 650T Vocational Business Education
Campus: City Campus
Program: C6164 - Advanced Diploma of Conveyancing
Course Contact: Callie Harvey
Course Contact Phone: +61 3 99255772
Course Contact Email: callie.harvey@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Nominal Hours: 60
Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.
Pre-requisites and Co-requisites
None
Course Description
This unit describes the skills and knowledge required to establish, supervise and monitor systems to ensure that a practice or unit of business conforms to legislative and regulatory requirements, and meets standards defined in professional codes of practice.
It applies to individuals who use specialised knowledge, systematic approaches and analytical skills to provide leadership in ensuring compliance and quality standards are met.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
FNSPRM601 Establish, supervise and monitor practice systems to conform with legislation and regulations |
Element: |
1. Identify legislation, regulations and codes of practice relevant to the practice |
Performance Criteria: |
1.1 Identify relevant legislation, regulations and codes of practice to be complied with in provision of services by the practice or business 1.2 Identify relevant compliance procedures to be established |
Element: |
2. Establish and document procedures for compliance of the practice with relevant legislation, regulations and codes of practice |
Performance Criteria: |
2.1 Identify key stakeholders and consult regarding issues and proposed procedures and guidelines 2.2 Incorporate compliance issues and procedures into practice guidelines and document appropriately 2.3 Identify and document sources of information and advice on legislative and regulatory requirements 2.4 Establish and document procedures for ensuring currency of information within practice 2.5 Establish and incorporate into practice guidelines, ethical procedures and standards for interpretation of legislation, regulations and codes of practice 2.6 Establish procedures for monitoring compliance with legislation, regulations and codes of practice within practice and for outsourced third party providers |
Element: |
3. Establish risk management procedures for compliance with legislation and regulations |
Performance Criteria: |
3.1 Establish and document structured and systematic risk management process, which takes into account practice obligations under relevant legislation and regulations 3.2 Identify and document risks of non-compliance 3.3 Establish, document and communicate to staff measures to avoid non-compliance and steps to be taken in event of breaches of obligations 3.4 Ensure measures are consistent with Australian state and federal regulations for licensees and authorised representatives |
Element: |
4. Identify and establish appropriate resources for ensuring the practice can meet its legislative and regulatory requirements |
Performance Criteria: |
4.1 Identify appropriate levels of financial, technological and human resources to meet practice’s legislative and regulatory requirements 4.2 Implement training and assessment procedures to ensure employees have skills needed to comply with legislative and regulatory requirements 4.3 Establish clear decision-making procedures on legislative and regulatory issues, including identification to employees of licensees, authorised representatives, directors and other staff carrying legislative and regulatory responsibilities 4.4 Establish and maintain information technology systems and other technological resources to level necessary to enable compliance with legislative and regulatory requirements 4.5 Ensure budgets, requisition procedures and other internal financial systems clearly identify support for legislative and regulatory functions |
Learning Outcomes
Details of Learning Activities
A range of learning activities are planned for this course including self-paced and collaborative classroom-based activities.
The self-paced activities will be delivered through various technology platforms and may include your contribution to wikis and discussion threads, reflective journals, quizzes and interactive sessions.
The collaborative classroom-based activities will include group discussions, group problem-solving activities and opportunities to practice your skills in a simulated/real workplace environment.
We expect you to participate and contribute in all scheduled learning activities.
Teaching Schedule
This course is comprised of three co-delivered competencies:
BSBCOM603 Plan and Establish Compliance Management Systems
FNSPRM601 Establish, Supervise and Monitor Practice Systems
BSBSMB401 Establish Legal and Risk Management Requirements of Small Business
The Teaching Schedule for this course is as follows
Induction Session
Prior to training commencement, a program level induction session will be conducted that comprises the following:
- Program overview and requirements
- MyRMIT/Canvas
- Overview of assessment requirements
- Pre-Training Review including:
o Recognition of Prior Learning and Credit Transfers
o Assessment of current skills and knowledge
- Competency/Grading Criteria
- Plagiarism
- Appeals
- Extensions
- Feedback
- Privacy
- Submission requirements
- Resubmission policy
- Where to get support
- Student Charter
Week |
Topic |
Workshop |
Assessment |
| Week 1: 08 July 2019 | Introductions and Identify regulations and requirements affecting the business |
Collaborate Session-1 (Thursday 18:00-19:30 PM) Collaborate Session-1 (Saturday 15:00-16:30 PM) |
|
| Week 2: 15 July 2019 | Identify regulations and requirements affecting the business |
Collaborate Session-2 (Thursday 18:00-19:30 PM) Collaborate Session-2 (Saturday 15:00-16:30 PM) |
|
| Week 3: 22 July 2019 | Preparing for AT1 success |
Workshop -1 (Wednesday 17:30-19:00 PM) |
|
| Week 4: 29 July 2019 | Plan compliance management systems, AT1 Q&A |
Collaborate Session-3 (Thursday 18:00-19:30 PM) Collaborate Session-3 (Saturday 15:00-16:30 PM) |
Assessment 1 - Due (04 Aug, 23:59 PM) |
| Week 5: 05 Aug 2019 | Plan compliance management systems |
Collaborate Session-4 (Thursday 18:00-19:30 PM) Collaborate Session-4 (Saturday 15:00-16:30 PM) |
AT1 Feedback (11 Aug, 23:59 PM)
|
| Week 6: 12 Aug 2019 | Establish compliance management systems |
Collaborate Session-5 (Thursday 18:00-19:30 PM) Collaborate Session-5 (Saturday 15:00-16:30 PM) |
AT1 re-submissions - due (18 Aug, 23:59 PM) |
| Week 7: 19 Aug 2019 | Preparing for AT2 success |
Workshop-2 (Wednesday 17:30-19:00 PM) |
|
| Week 8: 26 Aug 2019 | Establish compliance management systems, AT2 Q&A |
Collaborate Session-6 (Thursday 18:00-19:30 PM) Collaborate Session-6 (Saturday 15:00-16:30 PM) |
Assessment 2 Due (30 Aug, 23:59 PM) |
Mid-Semester Break: 2-6 September |
AT2 Feedback (08 Sept, 23:59 PM) |
||
| Week 09: 09 Sep 2019 | Comply with regulations affecting the business |
Collaborate Session-7 (Thursday 18:00-19:30 PM) Collaborate Session-7 (Saturday 15:00-16:30 PM) |
AT2 re-submissions - due (15 Sep 2019) |
| Week 10: 16 Sep 2019 | Preparing for AT3 success |
Workshop-3 (Wednesday 17:30-19:00 PM) |
|
| Week 11: 23 Sep 2019 | Comply with regulations affecting the business, AT3 Q&A |
Collaborate Session-8 (Thursday 18:00-19:30 PM) Collaborate Session-8 (Saturday 15:00-16:30 PM) |
Assessment 3 Due |
| Week 12: 30 Sep 2019 | Supervise and monitor practice systems |
Collaborate Session-9 (Thursday 18:00-19:30 PM) Collaborate Session-9 (Saturday 15:00-16:30 PM) |
AT3 Feedback (06 Oct, 23:59 PM) |
| Week 13: 07 Oct 2019 | Supervise and monitor practice systems |
Collaborate Session-10 (Thursday 18:00-19:30 PM) Collaborate Session-10 (Saturday 15:00-16:30 PM) |
AT3 re-submissions - due (13 Oct, 23:59 PM) |
| Week 14: 14 Oct 2019 | Preparing for AT4 success |
Workshop-4 (Wednesday 17:30-19:00 PM) |
|
| Week 15: 21 Oct 2019 | Course Wrap-up, AT4 Q&A |
Collaborate Session-11 (Thursday 18:00-19:30 PM) Collaborate Session-11 (Saturday 15:00-16:30 PM) |
Assessment 4 Due (27 Oct, 23:59 PM) |
| Week 16: 28 Oct 2019 | Extensions / Re-submissions |
AT4 Feedback (03 Nov, 23:59 PM) |
|
| Week 17: 4 Nov 2019 | Grade Entry |
AT4 re-submissions - due (10 Nov, 23:59 PM) |
The nominal hours associated with this are a guide only and represent the total teaching time and student effort required to successfully complete this course. This may include not only scheduled classes but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.
This overall semester schedule of the face to face classes is subject to changes.
Learning Resources
Prescribed Texts
References
Other Resources
Online learning materials can be accessed by going into the RMIT web sites Online Learning Hub.
The online learning materials listed include:
- Course outlines
- Power point Presentations
- Supporting Reading material
- Industry relevant articles
- Activities.
Overview of Assessment
In order to achieve competency in this unit, you must provide:
Performance Evidence
Evidence of the ability to:
- develop strategies to obtain a wide range of relevant information and assess its accuracy and relevance
- assess risks and benefits associated with using legislation and regulation databases and systems against practice requirements to make recommendations
- develop and document compliance and risk management procedures
- apply cost benefit analyses to ensure optimal development of systems and procedures
- comply with risk management standards
- develop procedures and processes for monitoring ethical operations of the practice and of outsourced third party providers.
Knowledge Evidence
To complete the unit requirements safely and effectively, the individual must:
- describe the key requirements of relevant legislation, regulations and codes of practice using knowledge of a wide range of available information sources, including legal resources
- describe a range of documentation systems, including registry and library processes
- describe the key features of:
- financial practice administrative processes and systems
- human resources procedures and training options
- office information technology systems and software
- describe the key processes and products of financial professional services
- outline the professional development options for financial personnel
- explain the key requirements of relevant legislation, regulations and codes of practice
- compare and contrast risk management techniques and tools.
Assessment Conditions
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the legal services administration field of work and include access to:
- office equipment and resources
- legislation and regulations relevant to contract law
- sources of information about contract law.
You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met.
Feedback
Feedback will be provided throughout the semester in class and/or online discussions. You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed.
You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.
Assessment Tasks
Compliance and Risk
BUSM6503C, LAW5752C & BUSM8845C
This cluster unit is comprised of following three competencies that are co-delivered and co-assessed (delivered and assessed together). You must successfully complete Tasks 1, 2, 3 & 4 to be deemed competent.
Assessment Task 1 – Knowledge Assessment
Identify requirements and plan appropriate systems.
Due in week 4 by 04 Aug 23:59pm AEST
Approx.1500-2000 words
For this assessment task students are required to complete seven (7) short answer written questions in approx. 200-300 words based upon the content delivered in class from weeks 1-3. Students will need to research relevant legislative, business registration and licensing requirements governing Australian businesses and specific to the conveyancing business operation. Students are required to participate actively in discussion activities, collaborate sessions and scheduled face-to-face workshops in addition to the learning materials provided.
Unit of Competency assessed:
BSBSMB401 Establish Legal and Risk Management Requirements of Small Business
Assessment Task 2 – Case Study
Research, plan and establish appropriate systems
Due in week 8 by 30 August 23:59pm AEST
(Not available until 05 August)
Approx. 2000-2500 words
For this assessment task, students are required to answer written questions for an overarching case study on a conveyancing business that will require them to demonstrate the skills and knowledge required to identify, plan and establish appropriate compliance management systems which enable an organisation to fulfil its obligations and responsibilities under applicable compliance requirements. Students will need to research planning and development of relevant compliance management systems that are applicable to Australian businesses and specific to conveyancing business operation. Students are required to participate actively in discussion activities, collaborate sessions and scheduled face-to-face workshops in addition to reading of the learning materials provided.
Unit of Competencies co-assessed are:
BSBSMB401 Establish Legal and Risk Management Requirements of Small Business
BSBCOM603 Plan and Establish Compliance Management Systems
Assessment Task 3 – Knowledge Assessment
Comply with regulations affecting the business
Due in week 11 by 29 Sep 23:59pm AEST
(Not available until 09 September)
Approx. 2000-2500 words
For this assessment task, students are required to answer ten (10) written questions in approx. 200-300 words to demonstrate the skills and knowledge required to plan, establish, supervise and monitor appropriate compliance management systems to ensure a practise or unit of business conforms to legislative and regulatory requirements, and meets standards defined in professional code of practice. Students will need to research relevant compliance management systems that are applicable to Australian businesses and specific to conveyancing business operation. Students are required to participate actively in discussion activities, collaborate sessions and scheduled face-to-face workshops in addition to reading of the learning materials provided.
Unit of Competencies co-assessed are:
BSBCOM603 Plan and Establish Compliance Management Systems
FNSPRM601 Establish, Supervise and Monitor Practice Systems
Assessment Task 4 – Case Study
Comply, supervise and monitor performance
Due in week 15 by 27 October 23:59pm AEST
(Not available until 30 September)
Approx. 2000-2500 words
For this assessment task, you are required to answer written questions for an overarching case study presented on a conveyancing business in Assessment Task 2. This assessment task will provide additional information and new scenarios in the overarching case study for students to demonstrate the skills and knowledge required to identify, plan, establish, supervise and monitor appropriate compliance management systems to ensure a practise or unit of business conforms to legislative and regulatory requirements, and meets standards defined in professional code of practice. Students will need to research planning, development and operation of relevant compliance management systems that are applicable to Australian businesses and specific to conveyancing business operation. Students are required to participate actively in discussion activities, collaborate sessions and scheduled face-to-face workshops in addition to reading of the learning materials provided.
Unit of Competencies co-assessed are:
BSBSMB401 Establish Legal and Risk Management Requirements of Small Business
BSBCOM603 Plan and Establish Compliance Management Systems
FNSPRM601 Establish, Supervise and Monitor Practice Systems
You must successfully complete all assessment tasks to be deemed competent
Assessment Matrix
The assessment matrix that maps all the assessments is available on CANVAS
Other Information
Submission Requirements
You should:
- Ensure that you submit assessments on or before the due date.
- Always retain a copy of your assessment tasks. (hard copy and soft copy)
- When you submit work for assessment at RMIT University you need to use the Assessment task document that includes a declaration and statement of authorship.
- Each page of your assessment should include footer with your name, student number, the title of the assessment, unit code and title and page numbers.
Late Submission Procedures You are required to submit assessment items and/or ensure performance based assessment is completed by the due dates. If you are prevented from submitting an assessment item on time, by circumstances outside your control, you may apply in advance to your teacher for an extension to the due date of up to seven calendar days. More Information: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/extensions-of-time-for-submission-of-assessable-work Where an extension of greater than seven days is needed, you must apply for Special Consideration. Applications for special consideration must be submitted no later than two working days after the assessment task deadline or scheduled examination. More Information: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/special-consideration Resubmissions: If you are found to be unsuccessful (Not satisfactory/Unsatisfactory) in a particular Course Assessment Task you will be allowed one resubmission. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission. If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible. Adjustments to Assessment In certain circumstances students may be eligible for an assessment adjustment. For more information about the circumstances under which the assessment arrangements might be granted please access the following website: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/adjustments-to-assessment Marking Guide (Competency): You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying. You will receive feedback on each assessment task that will inform you about your progress and how you are performing. The following grades are available for this course:
| CA | Competency Achieved |
| NYC | Not Yet Competent |
| DNS | Did Not Submit for Assessment |
Course Overview: Access Course Overview