SAQA 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.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Demonstrate understanding of risk management policy and procedure in note processing 
SAQA US ID UNIT STANDARD TITLE
13433  Demonstrate understanding of risk management policy and procedure in note processing 
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 4  NQF Level 04 
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 
This unit standard is intended for all learners in a note-processing environment.

Persons credited with this unit standard will be able to explain the principles of operational risk management, identify the risks in note processing department, explain the consequences of non adherence to risk management practice, and demonstrate accountability for control of cash received. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
There is open access to this unit standard. 

UNIT STANDARD RANGE 
N/A 

Specific Outcomes and Assessment Criteria: 

SPECIFIC OUTCOME 1 
Explain the principles of operational risk management 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The principle of Dual Control and its role in managing risk is understood and explained in own words according to Reserve Bank standing instructions. 

ASSESSMENT CRITERION 2 
2. The practical requirements for the application of dual control as a note-processing operator to manage risk is explained in own words according to Reserve Bank standing instructions and in line with departmental procedure. 

ASSESSMENT CRITERION 3 
3. Any exceptions to application of the principle of dual control are identified and explained according to Reserve Bank standing instructions and in line with departmental procedure. 

ASSESSMENT CRITERION 4 
4. The principle of standardised policy and procedure and its role in managing risk is explained in own words according to Reserve Bank standing instructions. 

ASSESSMENT CRITERION 5 
5. The practical requirements for the application of standardised policy and procedure as a note-processing operator to manage risk is explained in own words according to Reserve Bank standing instructions and in line with departmental procedure. 

SPECIFIC OUTCOME 2 
Identify the risks in note processing department 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The risks associated with the physical security of cash are identified explained in own words according to the Reserve Bank standing instructions. 

ASSESSMENT CRITERION 2 
2. The practical procedures governing the physical security of cash in the note department are detailed and explained in own words according to Reserve Bank standing instructions. 
ASSESSMENT CRITERION RANGE 
Personal locks, keys, stamps, combinations, computer codes and passwords. Evidence of competence across the full range is required.
 

ASSESSMENT CRITERION 3 
3. The risks associated with inaccurate accounting for cash are identified and explained in own words according to the Reserve Bank standing instructions. 

ASSESSMENT CRITERION 4 
4. The practical procedures governing the accounting for cash in the note department are detailed and explained in own words according to Reserve Bank standing instructions. 

ASSESSMENT CRITERION 5 
5. The risks associated with errors in processing of notes are identified and explained according to the impact of errors on the department and the bank. 

ASSESSMENT CRITERION 6 
6. The practical procedures governing errors in processing of cash in the note department are detailed and explained in own words according to Reserve Bank standing instructions. 

SPECIFIC OUTCOME 3 
Explain the consequences of non adherence to risk management practice 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The consequences of non-adherence to risk management practices by an individual are explained according to the reserve bank standing instructions and departmental requirements. 

ASSESSMENT CRITERION 2 
2. The consequences of fraud to the individual in note department are explained according to reserve bank standing instructions and departmental requirements. 

ASSESSMENT CRITERION 3 
3. The consequences of fraud to the department are explained according to reserve bank standing instructions and departmental requirements. 

ASSESSMENT CRITERION 4 
4. The consequences of errors in processing to the individual in note department are explained according to reserve bank standing instructions and departmental requirements. 

ASSESSMENT CRITERION 5 
5. The consequences of errors to the department are explained according to reserve bank standing instructions and departmental requirements. 

SPECIFIC OUTCOME 4 
Demonstrate accountability for control of cash received 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. Cash received is accepted according to standard risk management procedure in line with Reserve Bank standing instructions. 

ASSESSMENT CRITERION 2 
2. Every form received and processed in a shift is accounted for according to standard risk management procedure in line with Reserve Bank standing instructions. 

ASSESSMENT CRITERION 3 
3. Cash handed over to the supervisor is accounted for according to standard risk management procedure in line with Reserve Bank standing instructions. 

ASSESSMENT CRITERION 4 
4. Errors in processing, losses or surpluses are accounted for according to standards risk management procedure in line with Reserve Bank standing instructions. 


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 that is accredited by the relevant ETQA. 

UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
The knowledge acquired in this unit standard refers to understanding and applying the risk management policy and procedure in note processing. The principles are applied to identifying the risks, understanding the consequences of non-adherence and the accountability and responsibility required by each member of the team. The criteria against which this knowledge is evaluated are expressed in the standard. 

UNIT STANDARD DEVELOPMENTAL OUTCOME 
N/A 

UNIT STANDARD LINKAGES 
N/A 


Critical Cross-field Outcomes (CCFO): 

UNIT STANDARD CCFO ORGANISING 
In this standard the learner demonstrates the ability to organise and manage oneself and one`s activities responsibly and effectively when errors in processing, losses or surpluses are accounted for according to standards risk management procedure in line with Reserve Bank standing instructions. 

UNIT STANDARD CCFO COLLECTING 
In this standard the learner demonstrates the ability to collect, organise and critically evaluate information when risks associated with the physical security of cash, inaccurate accounting for cash are identified and explained in own words according to the Reserve Bank standing instructions. 

UNIT STANDARD CCFO COMMUNICATING 
In this standard the learner demonstrates the ability to communicate effectively verbally when the practical requirements for the application of dual control as a note-processing operator to manage risk is explained in own words according to Reserve Bank standing instructions and in line with departmental procedure. 

UNIT STANDARD CCFO DEMONSTRATING 
In this standard the learner demonstrates the ability to demonstrate an understanding of the world as a set of related systems when consequences of fraud to the department are explained according to reserve bank standing instructions and departmental requirements. 

UNIT STANDARD ASSESSOR CRITERIA 
N/A 

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

UNIT STANDARD NOTES 
Additional information:

Legal requirements:

All procedures must meet recognised codes of practice as well as obligations required by current legislation within South Africa and within the normal parameters of the defined job/task.

Terminology:

Form - a term used to refer to the number of notes processed in order to distinguish the physical number of notes from the value of the notes processed. 

QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
  ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
Elective  20185   Further Education and Training Certificate: Banking  Level 4  NQF Level 04  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. Absa Learning & Development 
2. Bidvest Bank 
3. Chartall Business College 
4. Cornerstone Performance Solutions (Pty) Ltd 
5. Felix Risk Training Consultants 
6. Firstrand Bank - Benmore 
7. Nedbank Ltd 
8. The Facilitation Workshop 



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.