Course Title: Establish, supervise and monitor practice systems to conform with legislation and regulations

Part B: Course Detail

Teaching Period: Term1 2020

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

Sukant Arora 

sukant.arora@rmit.edu.au 

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 thought 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 discussion, 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

The following courses are are delivered together under the unit title Compliance and Risk:

  • BSBCOM603/LAW5752C Plan and Establish Compliance Management Systems
  • FNSPRM601/BUSM8845C Establish Systems to Conform with Legislation
  • BSBSMB401/BUSM6503C Establish Legal and Risk Management Requirements of Small Business

(Please note that this schedule is subject to change)

Week 

Topic

Collaborate Session & Workshop

Assessment Task (AT)

Week 1: February 10 Introductions and Identify regulations and requirements affecting the business

Collaborate Session-1

(Thursday 18:00-19:30 PM)

 
Week 2: February 17 Identify regulations and requirements affecting the business

Collaborate Session-2 

(Thursday 18:00-19:30 PM)

 
Week 3: February 24 Preparing for AT1 success

Collaborate Session-3 

(Thursday 18:00-19:30 PM)

 
Week 4: March 2 Plan compliance management systems, AT1 Q&A

Workshop-1

(TBC)

 
Week 5: March 9 Plan compliance management systems

Collaborate Session-4 

(Thursday 18:00-19:30 PM)

Assessment 1 - Due

(15 March, 23:59 PM)

Week 6: March 16 Establish compliance management systems

Collaborate Session-5 

(Thursday 18:00-19:30 PM)

AT1 Feedback 

(22 March, 23:59 PM)

Week 7: March 23 Preparing for AT2 success

Workshop-2

(Wednesday 17:30-19:00 PM)

AT1 re-submissions - due

(29 March, 23:59 PM)

Week 8: March 30 Establish compliance management systems, AT2 Q&A

Collaborate Session-6

(Thursday 18:00-19:30 PM)

Assessment 2

Due

(5 April, 23:59 PM)

Week 09: April 6 Comply with regulations affecting the business

Collaborate Session-7 

(Thursday 18:00-19:30 PM)

AT2 re-submissions - due

(12 April, 23:59PM)

Mid-Semester Break

Week 10: April 20 Preparing for AT3 success 

Workshop-3

(Wednesday 17:30-19:00 PM)

AT2 re-submissions Feedback - 

(26 April, 23:59PM)

Week 11: April 27 Comply with regulations affecting the business, AT3 Q&A

Collaborate Session-8 

(Thursday 18:00-19:30 PM)

Assessment 3 Due
(3 May, 23:59 PM)

Week 12: May 4 Supervise and monitor practice systems

Collaborate Session-9

(Thursday 18:00-19:30 PM)

AT3 Feedback 

(10 May, 23:59 PM)

Week 13: May 11 Supervise and monitor practice systems

Collaborate Session-10 

(Thursday 18:00-19:30 PM)

AT3 re-submissions - due

(17 May, 23:59 PM)

Week 14: May 18 Preparing for AT4 success

Workshop-4

(Wednesday 17:30-19:00 PM)

AT3 re-submissions Feedback 

(24 May, 23:59PM)

Week 15: May 25 Course Wrap-up, AT4 Q&A

Collaborate Session-11 

(Thursday 18:00-19:30 PM)

Assessment 4 Due

(31 May, 23:59 PM)

Week 16: June 1 Extensions / Re-submissions   AT4 Feedback 

(7 June, 23:59 PM)

Week 17: June 8 Grade Entry  

AT4 re-submissions - due

(14 June, 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 the 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 including the self - paced activities in the workbooks.  


Learning Resources

Prescribed Texts


References


Other Resources

Online learning materials can be accessed by going into the RMIT's Learning Management System, Canvas. 

The online learning materials listed may 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

There are a total of four (4) assessments in this unit. You need to complete all assessment tasks satisfactorily in order to be deemed competent for this unit. 

Assignment 1: Identify requirements and plan appropriate systems

Due: Sunday, 15 March 2020

Summary and Purpose: The purpose of this assessment is for you to show how you can identify and comply with regulations affecting a small business. 

Assessment Instructions: In this assessment task you will respond to several questions based on the given scenario. 

Note: Some questions require you to work with your class peers and learn through interaction, cooperation and collaboration. However, in all these tasks you will be required to undertake your own independent research to inform your responses. Where group work is required, you will be assigned to a group of 3 – 5 members in the beginning of the unit to perform the group tasks.

Assignment 2: Research, plan and establish appropriate systems

Due: Sunday, 5 April 2020

Summary and Purpose: The purpose of this assessment is for you to exhibit your ability to plan for and establish appropriate compliance program/ management systems which would enable an organisation to fulfil its obligations and responsibilities under applicable compliance requirements. 

Assessment Instructions: In this assessment task you will need to develop a range of proposals for your business that will be presented to the Board. Ensure you collate and compile information using reliable sources. All proposed recommendations must be clear and with enough detail.

Note: Some questions require you to work with other class peers and learn through interaction, cooperation and collaboration. However, in all these tasks you will be required to undertake your own independent research to inform your responses. Where group work is required, you will be assigned to a group of 3 – 5 members in the beginning of the course to perform the group tasks. 

Assignment 3: Comply with regulations affecting the business

Due: Sunday, 3 May 2020

Summary and Purpose: The purpose of this assessment is for you to exhibit their ability to plan, establish, supervise and monitor appropriate practice systems which would enable an organisation to fulfil its obligations and responsibilities under applicable compliance requirements, conform to legislative and regulatory requirements, and meet standards defined in professional code of practice.

Assessment Instructions: In this assessment task, you are required to read through the context of e-Conveyancing in Victoria.

Based on the given context and using any conveyancing organisation based in Victoria or the one assumed in the previous assignment as a guide, you are to complete Q1 – Q10. You may assume that the conveyancing organisation is in the process of, or has recently transitioned to, 100% digital lodgement. You are also allowed to make any reasonable assumptions to meet the assessment criteria satisfactorily. 

Assignment 4: Comply, supervise and monitor performance and provide recommendations

Due: Sunday, 31 May 2020 

Summary and Purpose: The purpose of this assessment is for you to exhibit your ability to plan, establish, supervise and monitor appropriate practice systems which would enable an organisation to fulfil its obligations and responsibilities under applicable compliance requirements, confirm to legislative and regulatory requirements, and meet standards defined in professional codes of practice.

Assessment Instructions: This assessment task consists of two parts:

  • Part A is a performance evidence in a real – world scenario. It includes Q1 – Q5
  • Part B relates to financial professional services and covers learning materials from FNSPRM601. It includes Q6 – Q7 


Assessment Matrix

The assessment matrix that maps all the assessment is available on Canvas.

 

Other Information

Submission Requirements

  • 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 a footer with your name, student number, the title of the assessment, unit code and title and page numbers.

 

Resubmissions (VET Programs)

If you are found to be unsuccessful (Not satisfactory/Unsatisfactory) in a 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.

 

Penalties for Late Submission 

Late submissions of assignments without special consideration or extension will automatically be considered a re-submission (see above).

 

Extensions, Special Consideration and Adjustment to Assessments

 

Extensions:

Extensions are available for unforeseen circumstances of a short-term nature.

An application form must be submitted to the school at least one working day before the due date of the assessment.

Extensions can be approved for a maximum of one week (seven calendar days) past the due date for an assessment. (Where students need an extension exceeding one week they must instead apply for special consideration.)

 

Special consideration:

Special consideration is available for unexpected circumstances outside students’ control. These include but are not limited to: unexpected short-term ill health, and unavoidable family, work, cultural or religious commitments.

An application for special consideration is made in advance of an assessment wherever possible but will normally be accepted within five working days after the assessment date

For more information, see the Special Consideration page of the RMIT website.

 

Adjustments to Assessment:

RMIT provides several adjustments to assessment for students experiencing ongoing or long-term circumstances. Find the right one for your circumstances here.

 

Changes to the Assessment Scheme

Where a change to assessment approved by the dean/head of school changes an assessment due date, students will be given at least five working days’ notice of the new due date.

 

Feedback

You can expect to receive marks and feedback on in-course assessment work in time to improve your performance in related assessment tasks later in the course.

 

Academic Integrity and Misconduct

Students demonstrate academic integrity in their assessment practices by:

  • engaging with assessment activities in an honest way;
  • providing accountability for the authorship and originality of work submitted;
  • acknowledging the work of others and the re-use of original work.

Academic misconduct is addressed in accordance with the Student conduct policy

Assessment involving research with human participants, their information or their tissue, or animal subjects is carried out in accordance with the Staff ethics and integrity policy.

For further information see the Academic Integrity website.

 

Review and Appeal

A student may request a review of an assessment result or appeal a final course grade in accordance with the Conduct of assessment and appeals section of the Assessment Processes.

 

Grade Criteria

You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.

The following grades are available for this course.

Vocational education grades:

CA - Competency Achieved

NYC - Not Yet Competent

DNS - Did Not Submit for assessment

 

Course Overview: Access Course Overview