Competency is Generic task or a function. The ability to put skills, knowledge and attitudes into practice in order to perform activities or a job in an effective and efficient manner within an occupation or job position to identified standards.
Expand the definition with a couple of sentences
An IAEA publication  defines competency as groups of related knowledge, skills and attitudes (KSAs) needed by a person to perform a particular job.
Competency represents the part of an individual's knowledge, skills and attitudes which can be observed and evaluated. The concept represent a HRM based view on managing knowledge.
Relation to KM
Explain why the term competency is relevant for KM
Development of competency
Evaluation of competency
 Training the staff of the regulatory body for nuclear facilities: A competency framework, IAEA-TECDOC-1254, 2001, http://www.iaea.org/ns/tutorials/regcontrol/refs/20trainingstaff.pdf