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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Structure a banking-related solution to meet a financial need involving foreign exchange 
SAQA US ID UNIT STANDARD TITLE
7350  Structure a banking-related solution to meet a financial need involving foreign exchange 
ORIGINATOR
SGB Banking and Micro Finance 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
BANKSETA - Banking Sector Education and Training Authority 
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 5  Level TBA: Pre-2009 was L5  20 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
Persons credited with this unit standard will be able to establish the specific foreign exchange needs of a client, identify the product options that meet the client`s needs and prepare the relevant documentation. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
Persons attempting this unit standard will be required to have an understanding of the basic Exchange Control rulings and exchange rate mechanisms, as well as a knowledge of foreign exchange concepts and currencies. They should also be familiar with basic conversions and know how to use SWIFT. This unit standard should be completed in conjunction with the unit standard to provide a basic financial solution involving foreign exchange (SFS 007). 

UNIT STANDARD RANGE 
Letters of credit, forward exchange contracts, tele-transmissions relating to trade or commercial transactions, drafts, foreign bills for collection, open account payments, foreign/offshore financing. 

Specific Outcomes and Assessment Criteria: 

SPECIFIC OUTCOME 1 
Establish the specific foreign exchange needs of the business. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The type of transaction required by the client is established according to the bank's procedures. 

ASSESSMENT CRITERION 2 
2. The client's current foreign exchange exposure is established in accordance with the bank's policy. 

ASSESSMENT CRITERION 3 
3. The client's ability to pay is established in line with the bank's policy. 

ASSESSMENT CRITERION 4 
4. The transaction's compliance with Reserve Bank regulations is established. 

ASSESSMENT CRITERION 5 
5. Documentary evidence that the transaction complies with Reserve Bank regulations is obtained. 

ASSESSMENT CRITERION 6 
6. The reasons for the client's request are ascertained in compliance with Reserve Bank requirements. 

ASSESSMENT CRITERION 7 
7. The specific transaction requirements are identified as confirmation of the client's request. 
ASSESSMENT CRITERION RANGE 
Including but not limited to convenience, access to funds, currency, period of finance, domicile of beneficiary.
 

SPECIFIC OUTCOME 2 
Identify the product options that meet the client's needs. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. A range of product options is identified in terms of match with the client's needs, taking into consideration any client provisos. 

ASSESSMENT CRITERION 2 
2. The client's decision is recorded as required by the bank. 

ASSESSMENT CRITERION 3 
3. Each product option is evaluated in terms of the specific match with the client's needs. 

ASSESSMENT CRITERION 4 
4. The specific features and benefits of the products are explained so that the customer can make an informed decision. 

ASSESSMENT CRITERION 5 
5. The associated risks are explained in line with the bank's policy and so that the client can make an informed decision. 

ASSESSMENT CRITERION 6 
6. The implications of the various products are discussed with the client in line with the Code of Banking Practice. 
ASSESSMENT CRITERION RANGE 
Including but not limited to cost, risk, auxiliary protection, convenience, access to funds, currency of finance, period of finance.
 

ASSESSMENT CRITERION 7 
7. The terms and conditions of governing foreign exchange are explained in terms that the client should understand. 
ASSESSMENT CRITERION RANGE 
Including but not limited to interest and exchange rates, commission, reserve bank regulations, credit terms.
 

ASSESSMENT CRITERION 8 
8. The client is informed about the relevant documentary requirements for the foreign exchange transaction in line with the bank's requirements and Reserve Bank rulings and regulations. 

ASSESSMENT CRITERION 9 
9. The client's concerns are addressed politely and to the client's satisfaction. 

ASSESSMENT CRITERION 10 
10. The client's choice is reviewed, linked with the expressed need and the method of payment is discussed in line with the bank's requirements. 

SPECIFIC OUTCOME 3 
Prepare the relevant documentation. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The supporting documentation is collected according to Reserve Bank requirements. 
ASSESSMENT CRITERION RANGE 
Including to Reserve Bank forms, bank forms, transaction documents.
 

ASSESSMENT CRITERION 2 
2. Client instructions are recorded and signed by the client in line with the bank's requirements. 

ASSESSMENT CRITERION 3 
3. The required documentation handling procedure is completed as required by both the bank and the Reserve Bank. 

ASSESSMENT CRITERION 4 
4. Revenues and commission are recovered, if necessary, according to stipulated procedures. 

ASSESSMENT CRITERION 5 
5. The client contact is recorded promptly and accurately in the manner required by the bank. 

ASSESSMENT CRITERION 6 
6. The documentation is forwarded to the relevant department as stipulated by the bank. 

ASSESSMENT CRITERION 7 
7. The rates and relevant details of the transaction are confirmed in the manner required by the bank. 


UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
1. Anyone assessing a learner against this unit standard must be registered as an assessor with the relevant ETQA.

2. Any institution offering learning that will enable achievement of this unit standard or assessing this unit standard must be accredited as a provider with the relevant ETQA.

3. Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines in the relevant qualification and the agreed ETQA procedures.

Therefore anyone wishing to be assessed against this unit standard may apply to be assessed by any assessment agency, assessor or provider institution which is accredited by the relevant ETQA. 

UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • Detailed knowledge of specific banking policies and procedures relating to the function/tasks performed.
  • The ability to apply financial analysis skill to evaluate an individual`s or business`s financial position.
  • The ability to express analysis and judgement clearly both in written and verbal communication.
  • Operating and computer systems knowledge sufficient to locate the necessary information and complete the function/task.
  • An understanding of basic elements of business credit risk and principles of sound lending.
  • A broad knowledge of the wide range of banking products.
  • A general understanding of the specific risks, policies and laws relating to foreign exchange transactions applicable within South Africa
  • Reserve Bank regulations
  • Good customer relation skills
  • In-depth knowledge of exchange control regulations.
  • Sound knowledge of foreign exchange products. 


  • Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems in which responses display that responsible decisions using critical and creative thinking have been made when the transaction`s compliance with Reserve Bank regulations is established. 

    UNIT STANDARD CCFO ORGANISING 
    Organise and manage oneself and one`s activities responsibly and effectively when documentary evidence that the transaction complies with Reserve Bank regulations is obtained. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, organise and critically evaluate information when the reasons for the client`s request are ascertained in compliance with Reserve Bank requirements. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively using visual, mathematical and language skills in the modes of oral and written presentations. Each product option is evaluated in terms of the specific match with the client`s needs. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrate an understanding of the world as a set of related systems. The client`s current foreign exchange exposure is established in accordance with the bank`s policy. 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  61589   National Certificate: Banking  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2021-06-30  As per Learning Programmes recorded against this Qual 
    Elective  50481   National Certificate: Financial Markets and Instruments  Level 6  Level TBA: Pre-2009 was L6  Reregistered  2023-06-30  BANKSETA 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. Chartall Business College 
    2. Felix Risk Training Consultants 
    3. Firstrand Bank - Benmore 
    4. Full Value Financial Services (Pty) Ltd 
    5. Nedbank Ltd 
    6. The Institute of Literacy Advancement 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.