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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Ensure and maintain the validity of securities in custodianship in a banking environment 
SAQA US ID UNIT STANDARD TITLE
114773  Ensure and maintain the validity of securities in custodianship in a banking environment 
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 3  NQF Level 03 
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 replaces: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
7167  Ensure and maintain the validity of securities in custodianship in a banking environment  Level 3  NQF Level 03  52  Complete 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for people who are responsible for assuring that securities held in custodianship are legitimate at all times.

People credited with this Unit Standard are able to:
  • Validate the soundness of securities.
  • Realise the securities when cash values are required.
  • Minimize credit risk.
  • Handle the proceeds of securities at maturity. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners accessing this Unit Standard are competent in Communications and Mathematical Literacy at NQF Level 2. 

    UNIT STANDARD RANGE 
  • Securities include formal and Informal securities.
  • Receipt of security records include, but are not limited to securities regarding new records and existing records where changes were made to documents and/or where additional security was acquired.
  • Instructions to realise the security may initiate from, but are not limited to attorneys, branches, internal departments e.g. credit officials and legal.
  • Respective companies are instructed to surrender the security according to business specifications and regulations per type of security.
  • Regulations include, but are not limited to surrender procedures per Insurance Company; provision of original document and instructions for payment of surrender value.
  • Notification of maturities include, but are not limited to system-generated listings, diarised dates and follow-up system.
  • Interested parties include, but are not limited to branches, credit officials and clients.
  • Status of security includes, but is not limited to cancellation of security or details of new maturity date in respect of re-investment of proceeds. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Validate the soundness of securities submitted for safekeeping. 
    OUTCOME RANGE 
    All types of securities submitted by branches, internal departments and attorneys (mortgage loans). 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Receipt of security records is acknowledged according to business specifications. 

    ASSESSMENT CRITERION 2 
    Contents of records are scrutinised for completeness to ensure that it corresponds with captured data and conditions of approved liability. 

    ASSESSMENT CRITERION 3 
    Outstanding documents are investigated and obtained in accordance with business specifications.. 

    ASSESSMENT CRITERION 4 
    The legality of the documents is checked and confirmed in accordance with statutory law and business requirements. 

    ASSESSMENT CRITERION 5 
    Invalid documents are recorded and rectified in accordance with business specifications. 

    ASSESSMENT CRITERION 6 
    Approved security records are prepared and submitted for filing in accordance with business and filing/storage system requirements. 

    SPECIFIC OUTCOME 2 
    Realise securities in custodianship. 
    OUTCOME RANGE 
    Securities with a surrender value/cash value e.g. policies, investments, shares and unit trusts. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Instruction to realise the security is received and recorded in accordance with business specifications. 

    ASSESSMENT CRITERION 2 
    The security record is retrieved from custodianship and applicable document is removed from record according to business specifications. 

    ASSESSMENT CRITERION 3 
    Respective companies are instructed to surrender the security according to business specifications and regulations per type of security. 

    ASSESSMENT CRITERION 4 
    Customer is informed of realisation in accordance with business specifications. 

    SPECIFIC OUTCOME 3 
    Minimise credit risk. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Receipt of the surrender value is monitored and processed as per instruction and business specifications. 

    ASSESSMENT CRITERION 2 
    A cancelled status is imposed on the security record according to business specifications. 

    SPECIFIC OUTCOME 4 
    Handle the proceeds of securities at maturity. 
    OUTCOME RANGE 
    All securities with a mature date e.g. policies and investments. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Maturity dates of securities in custodianship are monitored according to business specifications. 

    ASSESSMENT CRITERION 2 
    Notification of maturity is obtained according to business specifications. 

    ASSESSMENT CRITERION 3 
    The security record is retrieved from custodianship and withdrawal of document is noted on record in accordance with business specifications. 

    ASSESSMENT CRITERION 4 
    Interested parties are notified of maturity and instructions regarding the utilisation of the proceeds are obtained in accordance with business specifications. 

    ASSESSMENT CRITERION 5 
    Actions to effect the instruction regarding the proceeds are taken and recorded according to business specifications. 

    ASSESSMENT CRITERION 6 
    Status of security is imposed on the security record and customer's security profile in accordance with business specifications. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • Anyone assessing a learner against this Unit Standard must be registered as an assessor with the relevant ETQA, or with an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • 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, or with an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • 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. or by an ETQA that has a Memorandum of Understanding with the relevant ETQA. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • Evaluation of the application of company specific criteria for completing and submission of security documents.
  • Application of statutory requirements.
  • Surrender procedures per Insurance Company.
  • The mortgage loan process and legal requirements.
  • The importance of ensuring the soundness of securities in custodianship.
  • Company credit risk policy.
  • Collection procedures applicable to the realisation of securities. 

  • UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    The learner is able to identify and solve problems when investigating and obtaining outstanding documentation, ensuring complete and accurate documentation per security record. 

    UNIT STANDARD CCFO WORKING 
    The learner is able to organise and manage his/her activities responsibly and effectively, when attending to the validation of securities and the realisation of securities, ensuring the validity of securities in custodianship. 

    UNIT STANDARD CCFO COLLECTING 
    The learner is able to collect, organise and critically evaluate information when validating the soundness of securities submitted for safekeeping, ensuring the accuracy of the security information library. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is able to communicate both verbally and in writing when instructing respective companies to surrender securities. 

    UNIT STANDARD CCFO SCIENCE 
    The learner is able to use technology effectively when capturing, updating and extracting information, ensuring complete and accurate information is available on systems. 

    UNIT STANDARD CCFO DEMONSTRATING 
    The learner is able to demonstrate an understanding of the relationship between internal departments, clients and other companies and the importance of networking to effectively ensure and maintain the validity of securities in custodianship. 

    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 
    This unit standard replaces unit standard 7167, which is "Ensure and maintain the validity of securities in custodianship in a banking environment", level 3, 5 credits.

    Legal Requirements
  • Credit Agreement Act.
  • Statutory law pertaining to contractual capacity of individuals and non-individuals e.g. Guardianship Act No.192 of 1993; Matrimonial Property Act; Close Corporations Act No. 69 of 1984; Companies Act No. 61 of 1973. 

  • QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  20184   National Certificate: Banking  Level 3  NQF Level 03  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.
     
    NONE 



    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.