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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: 

Ensure and maintain the validity of securities in custodianship in a banking environment 
SAQA US ID UNIT STANDARD TITLE
7167  Ensure and maintain the validity of securities in custodianship in a banking environment 
ORIGINATOR
SGB Financial Services 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
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  52 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Reregistered" 
2003-12-03  2004-08-11  SAQA 1351/03 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2005-08-11   2008-08-11  

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 is replaced by: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
114773  Ensure and maintain the validity of securities in custodianship in a banking environment  Level 3  NQF Level 03  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, to realise the securities when cash values are required to minimise credit risk and to handle the proceeds of securities at maturity. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
Open 

UNIT STANDARD RANGE 
Formal and Informal securities. 

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

ASSESSMENT CRITERION 2 
2. Content of record is scrutinised for completeness and corresponds with captured data and conditions of approved liability. 

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

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

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

ASSESSMENT CRITERION 6 
6. Approved security records are prepared and submitted for filing in accordance with company 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 
1. Instruction to realise the security is received and recorded in accordance with company specifications. 
ASSESSMENT CRITERION RANGE 
Instructions may initiate from, but are not limited to attorneys, branches, internal departments e.g. credit officials and legal.
 

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

ASSESSMENT CRITERION 3 
3. Respective companies are instructed to surrender the security according to company specifications and regulations per type of security. 
ASSESSMENT CRITERION RANGE 
Regulations include, but are not limited to surrender procedures per Insurance Company; provision of original document and instructions for payment of surrender value.
 

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

ASSESSMENT CRITERION 5 
5. Receipt of the surrender value is monitored and processed as per instruction and company specifications. 

ASSESSMENT CRITERION 6 
6. A cancelled status is imposed on the security record according to company specifications. 

SPECIFIC OUTCOME 3 
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 
1. Maturity dates of securities in custodianship are monitored according to company specifications. 

ASSESSMENT CRITERION 2 
2. Notification of maturity is obtained according to company specifications. 
ASSESSMENT CRITERION RANGE 
Notifications include, but are not limited to system-generated listings, diarised dates and follow-up system.
 

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

ASSESSMENT CRITERION 4 
4. Interested parties are notified of maturity and instructions regarding the utilisation of the proceeds are obtained in accordance with company specifications. 
ASSESSMENT CRITERION RANGE 
Interested parties include, but are not limited to branches, credit officials and clients.
 

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

ASSESSMENT CRITERION 6 
6. Status of security is imposed on the security record and customer's security profile in accordance with company specifications. 
ASSESSMENT CRITERION RANGE 
Status includes, but is not limited to cancellation of security or details of new maturity date in respect of re-investment of proceeds.
 


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 
Learners are able to:

Discuss and evaluate the application of company specific criteria for completing and submission of security documents.
Interpret and apply statutory requirements.
Discuss surrender procedures per Insurance Company.
Describe the mortgage loan process and legal requirements.
Value the importance of ensuring the soundness of securities in custodianship.
Identify company credit risk policy and collection procedures applicable to the realisation of securities. 


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 ORGANISING 
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 NOTES 
This unit standard has been replaced by 114773, which is "Ensure and maintain the validity of securities in custodianship in a banking environment" 5 credits, NQF Level 3, as from 11 August 2004.

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.

Assessment against unit standard:

Assessment practices against this unit standard should meet the requirements of established assessment principles, such as validity, reliability and fairness. Assessment activities and tools, which are appropriate to the context in which learners are working, should be used. The assessment should ensure that all the specific outcomes, critical cross-field outcomes, and essential embedded knowledge are assessed. Learners are required to demonstrate that they can perform the specific outcomes with understanding and reflexivity and, where applicable, within all the situations and circumstances defined by the range statement(s). 

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.