Finance Broking in Practice Assignment

PART A: Recommended reading- Introducing the Mortgage Broking Profession

Short Answer Question 1

Your boss Millicent Holmes asks you to induct a new employee, Ying Hsiung. Accordingly, you meet Ying and explain that you will give her a tour of the office facilities and introduce her to key personnel. Within the first fifteen minutes of your introductory tour around the office, Ying burns her hand on the coffee machine, catches her hand woven fair-trade, linen scarf in the shredding machine and cuts her leg on a filing cabinet drawer that was left ajar. Once you return Ying safely to her work station, you report the mishaps to Millicent and return to your desk.

Just as you are about to stop for lunch, Millicent informs you that she has just had a conversation with Ying. Apparently Ying, a hardened university activist, was rather vocal not only about the damage to her Oxfam scarf but also about the office’s carbon footprint and lack of basic recycling protocols. To follow up on the issues Ying raised, Millicent tells you she reviewed all WHS documentation (previously OHS) and noted the office’s lack of policy regarding sustainability. 

• Write an email to colleagues:

1. Outline the implications of WHS legislation (previously known as OHS), regulations and policies.

   The safety laws and work health try to protect the safety, health and the welfare of the workers at place of work. It refers to the health and safety practices that formulated so that prevention and mitigation of injury, illness and mishaps is taken care of. The implications of WHS legislation are enumerated below:   a. Providing adequate protection to workers and other people from harm by reducing risk. b. encouraging the unions and employers to take part and perform an active role in promotion of improvements in WHS aspects. c. promotion of a framework for continuous improvement. d. ensuring proper scrutiny and analysis of actions taken under the Act. e. strengthening and dealing with the harmonisation of WHS laws.

2. Explain how these relate to organisational requirements and work practices.

   WHS policies and procedures aim to make the organisation safe for the employees. There are other reasons why they are important, they are :   Is a proof of the company taking health and employee safety seriously? Allows for consistency in the implementation of the appropriate programs and activities. It also proves as a guide for the employees. Maintaining a system of consistent adherence to the national WHS laws and as a result it aims to facilitate a consistent national policy in the implementation of WHS.

3. Include links to helpful documents/websites you have sourced.

4. Encourage staff efforts and contributions.

   The WHS lays down various rights and responsibilities for the workers. While the employer shall encourage staff efforts and contributions, which shall be viewed in conjunction and continuation with the rights of the workers. The working staff shall ask to the supervisor when he is not sure about how to go ahead with the work and to perform the work in a safe and sound manner. The worker shall also be required to follows the instructions and work safely taking into account his own safety and the safety of those around him. He shall also be required to contribute to the safety mechanism of the workplace. He shall report unsafe and unhealthy situations and injuries to the supervisor.

5. Calculate the cost of making the workplace safer in light of the incidents that occurred during Ying’s induction, ensure that you have addressed all the issues that arose.

   Some costs that would make the workplace safer in light of the incidents that have occurred during the induction of Ying are as follows: Two or four fire extinguishers in number, so that the fire could have been controlled. The cost of two fire extinguishers are $2000. An emergency medical kit that would have been helpful in attending to Ying, in the light of her getting injured. The emergency medical kit cost $ 800. Proper compliance and legal costs that are associated with the adherence with the WHS regulations. The legal costs amount to $2000. The maintenance of a sufficient number of Fire Wardens. The maintenance costs are $200 per month. Thus, the total costs are $7200.

6. In an email provide feedback to Ying on her first day’s work remembering to use communications to show that you encourage, value and reward individual and team efforts and contributions. Ensure you identify and resolve problems which might impede her performance.

   To: Y ing @gmail.com Re: Feedback   Dear Ying,   Hi. I hope you are doing good. I hope your first day was good. This mail is in regards to let you know that you are a newcomer and thus, are free to seek my help at any time needed. If you need to out of some sticky situation, do let me know. I am always a call away. Some of the problems that you may face and the way you can solve them are as follows: a. Technical issues: Sometimes clients can come up with issues that need you to look into the mortgage journals, so keep them handy, so they can help you. b. Matters requiring escalations: Clients can sometimes become worked up, so you need to be calm and composed while answering them, and can refer them to you supervisors for their support. If there is anything other that you need help with, please let me know. Thanks.

7. You admit to yourself you felt annoyed at Ying when she first started as she wasted a lot of your time not only in the induction but as a result you now have ongoing responsibilities related to workplace health and safety. You realise that she is probably not the sort of person you would choose as a friend. What new way would you introduce to improve work relationships with Ying?

8. How would you monitor your work relationship with Ying?

9.  

   I would monitor my work relationship based on our coordination in getting work done and her performance. I would monitor the work relationship with Ying in the following way: Assess her performance where I have guided her. Check her performance over a period of time. Take her feedback over her work experience.

10. What do the following signs means?