Retail Financial Services Competency Standards

Transcript

FINANCIAL SERVICES TRAINING PACKAGE – FNB99 Retail Financial Services Competency Standards FNBFS01A – FNBFS06A FNARFS06A – FNARFS22A This is Volume 10 of a 13-volume set. This volume should not be used in isolation but in the context of the complete set for the Financial Services Training Package. The material contained within this volume is part of the endorsed component of the Financial Services Training Package endorsed by the National Training Quality Committee in June 1999 and agreed by Ministers. This Training Package is to be reviewed by 30 June 2003. © Australian National Training Authority (ANTA), 2003 This work has been produced with the assistance of funding provided by the Commonwealth Government through ANTA. • • An individual may make a photocopy of all or part of the work for their personal use. A Registered Training Organisation may make photocopies of all or part of the work for the teaching purposes of that organisation, including for supply to its students provided that any consideration does not exceed the marginal cost of preparation, reproduction, assembly and delivery. Except as permitted under the Copyright Act 1968, all other rights are reserved. Requests for permission may be directed to: Australian National Training Authority Level 11, AMP Place 10 Eagle Street BRISBANE, QLD 4000 Phone: (07) 3246 2300 Fax: (07) 3246 2490 This work is the result of wide consultations with Australian industry participants. It is a collaborative view and does not necessarily represent the view of ANTA or any specific body. For the sake of brevity it may omit factors which could be pertinent in particular cases. While care has been taken in the preparation of this Training Package, ANTA and the original developer do not warrant that any licensing or registration requirements specified here are either complete or up-to-date for your State or Territory. ANTA and the original developer do not accept any liability for any damage or loss (including indirect and consequential loss) incurred by any person as a result of relying on the information contained in this Training Package. This Training Package should not be regarded as professional advice and it should not be relied upon in any important matter without obtaining appropriate advice relevant to your circumstances. Published by: Australian Training Products Ltd Level 25, 150 Lonsdale St Melbourne 3000 Phone: +61 3 96550600 Fax: +61 3 9639 4684 www.atpl.net.au e-mail: [email protected] First Published: October 1999 STOCKCODE: atp9089 ISBN: 0 642 80010 3 Financial Services Training Package – FNB99 – Retail Financial Services Competency Standards Vol 10 0f 13 Printed for Australian Training Products Ltd by Document Printing Australia Melbourne, Australia AESharenet: P Print Version No: Version 4 8 August 2003 IMPORTANT Training Packages are living documents. Changes are periodically made to reflect the latest industry practices. As a user of the Training Package, and before commencing any form of training or assessment, you must ensure delivery is from the current version. Ensure you are complying with this requirement by: z Checking the version identifier code of the version you currently have (located on the imprint page, just below the copyright statement) z Accessing the Australian Training Products (ATP) website and comparing the version identifier. Where the ATP website shows a different version, the modification history, again shown on the ATP website in the training package sample, will display the changes made in all versions. ATP website for version comparison (http://www.atpl.net.au) Changes in units of competency and packaging of qualifications are reflected on the National Training Information Service which only displays current information: http://www.ntis.gov.au FINANCIAL SERVICES TRAINING PACKAGE – FNB99 MODIFICATION HISTORY – ENDORSED MATERIALS Please refer to the National Training Information Service for the latest version of Units of Competency and qualification information (http://www.ntis.gov.au). 4 3.00 July 2003 October 2002 Sheet: 1 of 1 Authorisation Date of Release Version Financial Services Training Package – FNB99 Comments NTQC Addition of Superannuation Standards. Three new qualifications in Superannuation NTQC Update of all Competency Standards; Addition of ASIC Standards, Financial Planning Standards; addition and revision of Accounting Standards; Revision of Qualifications Framework and Core Competency Units. 2.00 July 2001 NTQC Addition of Conveyancing Standards and changes to general Insurance Standards. Six new qualifications, four in General Insurance and two in Conveyancing sector. 1.00 June 1999 NTFC Primary release Forms control: All endorsed Training Packages will have a version number displayed on the imprint page of every volume constituting that Training Package. Every Training Package will display an up-to-date copy of this modification history form, to be placed immediately after the contents page of the first volume of the Training Package. Comments on changes will only show sufficient detail to enable a user to identify the nature and location of the change. Changes to Training Packages will generally be batched at quarterly intervals. This modification history form will be included within any displayed sample of that Training Package and will constitute all detail available to identify changes. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 4 FINANCIAL SERVICES TRAINING PACKAGE – FNB99 CONTENTS FNBFS01A Work within a financial services industry context FNBFS02A Communicate in the workplace 15 FNBFS03A Work as part of a team 20 FNBFS04A Use technology in the workplace 25 FNBFS05A Apply health and safety practices in the workplace 32 FNARFS06A Process loan applications 37 FNARFS07A Settle loans 43 FNARFS08A Administer consumer loans 48 FNARFS09A Process customer accounts 54 FNARFS10A Maintain ATM services 61 FNARFS11A Administer card services 67 FNARFS12A Process specialist services 72 FNARFS13A Administer portfolios 79 FNARFS14A Deliver a service to customers 85 FNBFS06A Resolve customer complaints 89 FNARFS16A Sell/cross-sell products and services 95 FNARFS17A Co-ordinate sales / service performance 100 FNARFS18A Implement sales and marketing plans 104 FNARFS19A Prepare statistical and ad hoc reports 110 FNARFS20A Prepare government returns 115 FNARFS21A Produce financial statements 119 FNARFS22A Develop financial model / product 124 FNARFS23A Balance cash holdings 129 FNARFS24A Maintain main bank account 134 FNARFS25A Administer fixed asset register 138 FNARFS26A Administer accounts payable 142 Financial Services Training Package FNB99:Version 4 © Australian National Training Authority 9 Retail Financial Services Competency Standards for Review by 30/06/2003 5 FINANCIAL SERVICES TRAINING PACKAGE – FNB99 FNARFS27A Maintain integrity of financial systems Financial Services Training Package FNB99:Version 4 © Australian National Training Authority 146 Retail Financial Services Competency Standards for Review by 30/06/2003 6 Retail Financial Services Competency Standards FNBFS01A - WORK WITHIN A FINANCIAL SERVICES INDUSTRY CONTEXT FNBFS01A Work within a financial services industry context Stream Financial Services Functional Area Core National Code FNBFS01A Unit Description This unit covers the application of industry and company procedures, guidelines, policies and standards in a daily work context within the Financial Services Industry. This unit is adapted from and supersedes FNARFS01A - “Work within a Retail Financial Services Industry Context” from the Finance Training Package – Retail Financial Services. ELEMENT 1. 2. 3. Work within Financial Services industry guidelines, procedures and legislation Work within company policy, guidelines and procedures Work to industry and company standards PERFORMANCE CRITERIA a) Work carried out is consistent with existing industry guidelines and procedures relating to the Financial Services sector. b) All work complies with relevant legislation and codes of practice. c) Appropriate assistance to clarify work practices and relevant information is sought whenever necessary. a) Work carried out is consistent with specific company policies, guidelines and procedures. b) Work conducted reflects an understanding of the philosophy of the company and its objectives. c) Work conducted meets company’s standards in areas of: – honesty – efficiency – accuracy – customer service a) The individual’s responsibility in delivering a quality service is consistently met. b) Appropriate dress and hygiene codes and business etiquette is followed at all times. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 9 FNBFS01A - WORK WITHIN A FINANCIAL SERVICES INDUSTRY CONTEXT ELEMENT PERFORMANCE CRITERIA c) Work to industry and company standards (cont’d) All work is conducted within accepted codes of conduct including those related to: – maintaining confidentiality – use of company property – duty of care – ethical behaviours – non-discriminatory practices – conflict of interests – compliance with reasonable direction RANGE OF VARIABLES VARIABLE Type of work undertaken SCOPE Type of work undertaken may include: • initial customer service • secretarial and/or reception duties • internal administrative support including : Relevant guidelines and procedures – monitoring car fleet – filing and records management – stock control Relevant guidelines and procedures may include • industry and company codes of conduct • customer service statements and codes of practice • industry and company policy statements • industry and company mission statements Relevant legislation Relevant legislation may include • Industry Codes of Practice • OH&S Legislation • Anti-Discrimination Legislation • Consumer Credit Code • Privacy Act Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 10 FNBFS01A - WORK WITHIN A FINANCIAL SERVICES INDUSTRY CONTEXT RANGE OF VARIABLES VARIABLE Relevant legislation (cont’d) SCOPE • Competition • Prudential • FI Code • CRAA • EFT Code of Conduct • Financial Transaction Reports Act • Cheques and Payment Orders Act Appropriate assistance Appropriate assistance may be sought from: • Managers or supervisors • staff from other areas • peers Philosophy of the industry/company Philosophy of the industry/company may be reflected in: • customer service statements • business plans • mission statements • memorandums • policy statements Service delivery Service delivery may be: • internal • external • in person • by telephone • by facsimile or other electronic means Appropriate dress and hygiene Appropriate dress and hygiene may include: • uniform • dress in accordance with company dress codes • hygiene in accordance with company standards. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 11 FNBFS01A - WORK WITHIN A FINANCIAL SERVICES INDUSTRY CONTEXT RANGE OF VARIABLES VARIABLE Business etiquette SCOPE Business etiquette may be: • specifically written in policies and procedures • received as verbal advice from supervisors • acquired through training Company property Company property may include: • cars • office machinery • office equipment • office furniture • telephones and other communication devices EVIDENCE GUIDE Context for assessment: Assessment of performance requirements in the unit should be undertaken in an industry context. Aspects of competency, including attainment of relevant knowledge and skills may be assessed in a simulated work environment. Competency is demonstrated by performance of all stated criteria including the Range of Variables applicable to the workplace. Specialised resources required for training and assessment include: • availability of qualified assessors • systems which facilitate recording of trainees’ profiles and progress • facilities for workplace or simulated environment assessment Critical aspects of evidence will include: • demonstrated communication and listening skills • thorough knowledge of industry/company protocol in dealing with customers • thorough knowledge and application of industry/company dress and hygiene standards • basic knowledge of relevant legislation and codes of practice • demonstrated ability to properly use company property • demonstrated understanding of principles of ethical behaviour, confidentiality, duty of care, non-discriminatory practices and their application in the workplace • demonstrated ability to perform work within a quality customer service environment Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 12 FNBFS01A - WORK WITHIN A FINANCIAL SERVICES INDUSTRY CONTEXT EVIDENCE GUIDE Interdependent assessment of units: This unit may be assessed prior to or in conjunction with: FNBFS02A - Communicate in the Workplace FNBFS03A – Work as part of a Team Workplace outcomes (Underpinning knowledge and skills): The Evidence Guide is a guideline which assists in the development of assessment instruments/tools to assess the competency of workers in the Financial Services sector. This requires evidence of consistent achievement of the workplace outcomes covered by the unit. An employee working at this level should be able to demonstrate the following underpinning knowledge and skills. Underpinning knowledge includes: • knowledge of industry and company policies and procedures in regard to customer service and administration • knowledge of relevant legislation and statutory requirements • relevant knowledge of industry codes of practice including Consumer Credit Code, Privacy Act, Credit Act • basic questioning/listening techniques • basic communication techniques • basic telephone techniques • knowledge of industry/company security practices and knowledge of the reasons for such practices • knowledge of internal administration systems which may include: – administrative support – filing – secretarial duties – reception duties – car fleet monitoring – stock control • knowledge of the operation and maintenance of equipment which may include: – computers, modems, printers – photocopiers and facsimile machines – franking machines – industrial staplers – folding machines – calculators Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 13 FNBFS01A - WORK WITHIN A FINANCIAL SERVICES INDUSTRY CONTEXT EVIDENCE GUIDE Underpinning skills include: • literacy skills in regard to written documentation • basic interpersonal and communication skills (including listening and questioning) • telephone skills • administrative skills • numeracy skills • use of appropriate software • time management skills • keyboard skills • referral skills • basic organisational skills. Key competencies: Utilisation of the key competencies in the performance of this unit Level of utilisation of key competencies (1 – perform; 2 – administer; 3 – design) Communicating ideas and information Collecting, analysing and organising information Planning and organising activities Working with others in a team Using mathematical ideas and techniques Solving problems Using technology 1 1 1 1 1 1 1 Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 14 FNBFS02A - COMMUNICATE IN THE WORKPLACE FNBFS02A Communicate in the workplace Stream Financial Services Functional Area Core National Code FNBFS02A Unit Description This unit covers the basics of written and oral communication as they apply in the work environment. This unit is adapted from and supersedes FNARFS02A “Communicate in the Workplace” from the Finance Training Package – Retail Financial Services. ELEMENT 1. 2. 3. 4. Follow routine instructions Receive and relay messages Read and interpret documents Use effective verbal and non-verbal communication in the workplace PERFORMANCE CRITERIA a) Verbal instructions are received, understood and acted upon within the appropriate time frame. b) Written instructions are read, understood and followed to a level that ensures effective and efficient operation in the workplace. c) Clarification of instructions is promptly sought from appropriate personnel when necessary. a) Messages are received, understood, acknowledged and promptly acted upon. b) Clarification of the message when needed, is sought from the sender in a polite and courteous manner. c) Messages to be conveyed to other appropriate personnel in either written and / or verbal form are relayed efficiently and effectively. d) Industry and organisation’s policies and procedures are adhered to in relation to the taking and relaying of messages. e) Appropriate established communication channels are used in relaying messages. f) In cases where doubt exists as to whether the message should be relayed, or where clarification of the message is needed, appropriate help is sought. a) Workplace documents relevant to work at this level are read promptly and understood. b) Workplace documents are accessed as necessary to gain, clarify or refresh knowledge. a) Effective verbal and non-verbal communication techniques are used to convey messages and information. b) Sensitivity to issues affecting communication with people from a variety of backgrounds is demonstrated. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority appropriately Retail Financial Services Competency Standards for Review by 30/06/2003 15 FNBFS02A - COMMUNICATE IN THE WORKPLACE ELEMENT 5. Prepare routine written correspondence, notes and records PERFORMANCE CRITERIA a) Routine correspondence, notes and presented in clear and simple language. records are b) Documents are proofed (checked and edited) for spelling, grammar and style prior to final presentation. c) Any correspondence produced reflects industry and organisation’s standards in terms of style, format and accuracy. d) Written information is prepared within identified time frames. e) Numbers are used and understood in a workplace setting and numerical calculations are carried out, as required. RANGE OF VARIABLES VARIABLE Instructions SCOPE Instructions may be: • verbal • written Appropriate personnel Appropriate personnel may include: • managers or supervisors • staff from other areas • peers Messages Messages may be: • formal • informal • written • verbal Message senders Message senders can be: • customers • other staff • supervisors • external service providers • other branches or companies • regulatory or government organisations Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 16 FNBFS02A - COMMUNICATE IN THE WORKPLACE RANGE OF VARIABLES VARIABLE SCOPE Industry and organisation’s policies, procedures and standards Industry and organisation’s policies procedures and standards may be expressed in: • business plans • mission statements • policy and procedures manuals • memorandums • workplace documents • customer service statements verbally Established communication channels Established communication channels may include: • formal communication pathways • direct line supervision paths • lateral supervision paths Appropriate help Appropriate help may be sought from: • managers or supervisors • designated peer support officers • other personnel as appropriate Workplace documents Workplace documents may include: • memoranda • general information or bulletin board notices • letters • reports • policy and procedure manuals Workplace documents (cont’d) • business plans • mission statements • customer service statements Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 17 FNBFS02A - COMMUNICATE IN THE WORKPLACE RANGE OF VARIABLES VARIABLE Routine correspondence, notes and records SCOPE Routine correspondence, include: notes and records may • form letters • internal notices or memoranda • arrears and default notices • invoices • consignment notes • dispatch documents • reports • file notes Workplace setting Workplace setting refers to any environment in which work is conducted within a Financial Services industry context. Simple numerical calculations Simple numerical calculations include: • division • multiplication • addition • subtraction EVIDENCE GUIDE Context for assessment: Assessment of performance requirements in the unit should be undertaken in an industry context. Aspects of competency, including attainment of relevant knowledge and skills may be assessed in a simulated work environment. Competency is demonstrated by performance of all stated criteria including the Range of Variables applicable to the workplace. Specialised resources required for training and assessment include: • availability of qualified assessors • systems which facilitate recording of trainees’ profiles and progress • facilities for workplace or simulated environment assessment Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 18 FNBFS02A - COMMUNICATE IN THE WORKPLACE EVIDENCE GUIDE Critical aspects of evidence will include: • demonstrated ability to receive and understand messages and instructions • demonstrated ability to convey messages • demonstrated ability to seek appropriate assistance • knowledge of appropriate communication channels • an appropriate level of understanding of industry and company policy • demonstrated ability to communicate both orally and in writing • demonstrated ability to appropriately format a document • demonstrated ability to successfully complete numerical calculations • knowledge of issues affecting people from a variety of backgrounds Interdependent assessment of units: This unit may be assessed prior to or in conjunction with units: FNBFS03A - Work as Part of a Team FNBFS01A - Work within a Financial Services Industry Context. Workplace outcomes (Underpinning knowledge and skills): The Evidence Guide is a guideline which assists in the development of assessment instruments/tools to assess the competency of workers in the Financial Services Industry sector. This requires evidence of consistent achievement of the workplace outcomes covered by the unit. An employee working at this level should be able to demonstrate the following underpinning knowledge and skills. • use of appropriate software • basic keyboard and computer skills • basic interpersonal and communication skills • referral skills Key Competencies: Utilisation of the key competencies in the performance of this unit Level of utilisation of key competencies (1 – perform; 2 – administer; 3 – design) Communicating ideas and information Collecting, analysing and organising information Planning and organising activities Working with others in a team Using mathematical ideas and techniques Solving problems Using technology 1 1 1 1 1 1 1 Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 19 FNBFS03A - WORK AS PART OF A TEAM FNBFS03A Work as part of a team Stream Financial Services Functional Area Core National Code FNBFS03A Unit Description This unit covers workgroup participation, maximising personal performance and appropriate use of resources. This unit is adapted from and supersedes FNARFS03A - “Work as Part of a Team” from the Finance Training Package – Retail Financial Services. ELEMENT 1. 2. Participate in and cooperate with others in the workgroup Manage self PERFORMANCE CRITERIA a) Individual responsibilities within the workgroup are identified and met. b) Individual performance is periodically checked against group objectives and adjusted as required. c) Areas of responsibility that affect other group members are identified and met. d) Harmonious working relationships are maintained with other group members and issues that may lead to, or involve conflict are appropriately referred or resolved in a timely manner. e) Sensitivity to others worker’s individual differences is continually demonstrated in the daily work environment. f) Effective communication with other group members is maintained. g) A team commitment to help achieve workplace objectives is made whenever necessary. a) Individual work activities are regularly planned in consultation with supervisor, in order to achieve workplace objectives within specified time frames. b) Individual work is prioritised and reviewed as necessary. c) Individual work plans are aligned to group objectives. d) Problems that affect the achievement of workplace objectives are identified and acted upon. e) Self-improvement and training opportunities are identified and appropriate personnel are informed. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 20 FNBFS03A - WORK AS PART OF A TEAM ELEMENT Manage self (cont’d) 3. Work with and adapt to change in a workplace environment. PERFORMANCE CRITERIA f) Feedback on individual and group performance is regularly sought from peers and supervisors. g) Resources required to achieve workplace outcomes are identified. h) Identified resources are used efficiently, effectively and without unnecessary duplication. a) Possible changes to workplace systems and practices, which could improve efficiency and effectiveness, are identified and suggested to appropriate personnel. b) Workplace practices and attitudes are modified as necessary in response to approved changes in the workplace. c) Flexibility and the willingness and ability to adapt to change are demonstrated in the workplace. d) An understanding (or awareness) of the reasons for change is demonstrated. RANGE OF VARIABLES VARIABLE SCOPE Individual responsibilities Individual responsibilities may include: The workgroup The workgroup may include: • Individual responsibilities are those responsibilities that an employee is expected to meet in the normal performance of their duties. These duties may include duties that they should complete themselves, or duties for which they have primary responsibility. • office specific groups of employees assigned to complete designated tasks or to work together • the company as a whole • individual branches • individual work sections Group objectives Group objectives may include: • written or verbally specified objectives that identify expected workplace outcomes and achievements • industry targets • company targets • specific workgroup objectives Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 21 FNBFS03A - WORK AS PART OF A TEAM RANGE OF VARIABLES VARIABLE Group members SCOPE Other group members may include: • other employees • managers or supervisors Workplace objective Workplace objectives include: • Workplace objectives are those objectives written or verbally specified that identify expected outcomes and performance within a designated workplace. Individual work plans Individual work plans include: • Daily and/or periodical plans. These plans may be designed by individual employees, managers or supervisors. • They may be designed individually or in consultation with supervisors. Self-improvement and training opportunities Self-improvement include: and training opportunities may • Any identified opportunity for self-improvement, staff training or career development that will assist the employee to develop their full potential as an employee, and that will be of benefit to the industry/company in the long term. Appropriate personnel Appropriate personnel may include: • supervisors • Human Resources and other Managers • designated personnel within the Human Resources section • other designated staff or peers. Resources may be Resources may be: • Either physical or material in nature and include any materials that need to be accessed to complete expected tasks in the workplace (eg: stationery, office equipment, and pro-formas). Workplace systems and practices Workplace systems and practices are those systems and practices that are approved for use or are common practice in the Financial Services Industry, and which are applied in the context of a work environment. The workplace The workplace includes any area in which official work is conducted within the Financial Services Industry. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 22 FNBFS03A - WORK AS PART OF A TEAM EVIDENCE GUIDE Context for assessment: Assessment of performance requirements in the unit should be undertaken in an industry context. Aspects of competency, including attainment of relevant knowledge and skills may be assessed in a simulated work environment. Competency is demonstrated by performance of all stated criteria including the Range of Variables applicable to the workplace. Specialised resources required for training and assessment include: • availability of qualified assessors • systems which facilitate recording of trainees’ profiles and progress • facilities for workplace or simulated environment assessment. Critical aspects of evidence will include: • demonstrated understanding of importance of achieving individual workplace objectives • demonstrated understanding of importance of achieving group objectives • application of the principles of good teamwork • demonstrated ability to prioritise work • demonstrated ability to work to and achieve daily or periodical work plans • knowledge of interpersonal communication techniques • basic knowledge of principles of conflict resolution • application of problem solving techniques in a workplace environment • demonstrated ability to seek advice • demonstrated ability to adapt and respond to a changing workplace environment Interdependent assessment of units: This unit may be assessed prior to or in conjunction with units: FNBFS02A - Communicate in the Workplace FNBFS01A - Work within a Financial Services Industry Context. Workplace outcomes (Underpinning knowledge and skills): The Evidence Guide is a guideline which assists in the development of assessment instruments/tools to assess the competency of workers in the Financial Services sector. This requires evidence of consistent achievement of the workplace outcomes covered by the unit. An employee working at this level should be able to demonstrate the following underpinning knowledge and skills. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 23 FNBFS03A - WORK AS PART OF A TEAM EVIDENCE GUIDE Underpinning knowledge includes: • basic knowledge of communication principles • basic knowledge of conflict resolution principles • knowledge of time management principles • basic knowledge of principles of effective teamwork • basic understanding of reasons for organisational change Underpinning skills include: • interpersonal and communication skills • teamwork participation skills • time management skills • planning skills • referral skills • basic conflict resolution skills • resource management skills Key competencies: Utilisation of the key competencies in the performance of this unit Level of utilisation of key competencies (1 – perform; 2 – administer; 3 – design) Communicating ideas and information Collecting, analysing and organising information Planning and organising activities Working with others in a team Using mathematical ideas and techniques Solving problems Using technology 1 1 1 1 1 1 1 Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 24 FNBFS04A - USE TECHNOLOGY IN THE WORKPLACE FNBFS04A Use technology in the workplace Stream Financial Services Functional Area Core National Code FNBFS04A Unit Description This unit covers the effective and efficient use of technology and equipment in the workplace. This unit is adapted from and supersedes FNARFS04A - “Use Technology in the Workplace” from the Finance Training Package – Retail Financial Services. ELEMENT 1. 2. Utilise office technology Maintain office technology PERFORMANCE CRITERIA a) Appropriate office technology is identified and used to achieve outcomes in a cost-effective manner. b) Computer systems are accessed as appropriate to process and analyse data. c) Keyboard skills are used effectively to maximise computer usage. d) Work is planned to maximise effectiveness of technology and to minimise waste. e) Used office technology consumables are identified and replaced. f) Where required, equipment usage is recorded accurately. a) Use of technology in the workplace complies with manufacturer’s operating guidelines and is carried out in accordance with relevant Health and Safety procedures. b) Routine maintenance is carried out and/or arranged in order to ensure that equipment is properly maintained in accordance with manufacturer’s instructions or company guidelines. c) Equipment faults are accurately identified and prompt action is taken to address the fault, through either routine repair in accordance with manufacturer’s instructions, or through reporting of the fault to nominated personnel or sections. d) Equipment and data is secured as required by legislation, industry or organisation’s policies and procedures. e) Appropriate start up and shutdown techniques are applied. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 25 FNBFS04A - USE TECHNOLOGY IN THE WORKPLACE ELEMENT 3. Use appropriate software PERFORMANCE CRITERIA a) Requirements of task are identified. b) Appropriate software is selected to perform task. c) Software application is utilised to produce required outcome. d) Files and records are identified, opened, generated or amended according to requirements. e) Documents are stored appropriately and applications are exited without damage to or loss of data. f) Appropriate technical support is sought as necessary. RANGE OF VARIABLES VARIABLE SCOPE Appropriate office technology / equipment Appropriate office technology / equipment may include but is not limited to: • computer • modems • scanners • photocopiers • facsimile machines • printers • telephones • franking machines • folding machines • televisions • videos Processing and analysing data Processing and analysing data may include: • entering new data or files • copying • updating/modifying or processing • storing, retrieving, or transferring data within files or directories Processing and analysing data (cont’d) It may also include: • removing or deleting inactive or “dead” files and data Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 26 FNBFS04A - USE TECHNOLOGY IN THE WORKPLACE RANGE OF VARIABLES VARIABLE Manufacturer’s operating guidelines / instructions SCOPE Manufacturer’s operating guidelines / instructions may include: • written instruction manuals for specific equipment • general instruction manuals • verbal advice received from manufacturer on appropriate operation of equipment OH&S Procedures OH&S Procedures may include: • appropriate Federal and State legislation and regulations • industry or procedures company guidelines and operational • Industrial Court rulings Routine maintenance / repairs Routine maintenance / repairs may include: • regular checking of equipment • “in-house” servicing of equipment manufacturers operating guidelines according to • periodic servicing by qualified or manufacturer approved technician • “in-house” repairs to rectify readily identified problems which can be legitimately fixed by company personnel • repairs that should be carried out by a qualified or manufacturer approved technician • other repairs carried out by a qualified technician after expiration of the warranty period Nominated personnel or section Nominated personnel or section may include: • any staff member who has been delegated to receive information on equipment faults and service • any external person nominated by the company, or the manufacturer, as being the authorised service or repair person • the immediate supervisor of the person reporting the fault Nominated personnel or section (cont’d) • a section of the company that has specific delegation to receive and act upon information regarding equipment faults • an external section of the manufacturer or authorised repair company that receives and acts upon information regarding faults and repairs Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 27 FNBFS04A - USE TECHNOLOGY IN THE WORKPLACE RANGE OF VARIABLES VARIABLE Relevant legislation SCOPE Relevant legislation may include: Consumer • Consumer Credit Code • Privacy Act • Secrecy laws • Codes of Practice Prudential • FI Code • CRAA • EFT Code of Conduct • Financial Transaction Reports Act • Cheques and Payment Orders Act Industry/organisation’s policies and procedures Industry/organisation’s policies and procedures may relate to: • privacy and security of documents • safe storage procedures • clerical administration systems • ease of access • maintenance of equipment and software Securing of equipment and data Securing of equipment and data should comply with: • any relevant industry and company policy • industry codes of practice • any relevant legislation including Privacy Act and Consumer Credit Code • relevant confidentiality requirements Appropriate software Appropriate software may include: • any generic software in common use, including the Internet • specific software relevant to the Financial Services Industry as a whole or to specific sectors Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 28 FNBFS04A - USE TECHNOLOGY IN THE WORKPLACE RANGE OF VARIABLES VARIABLE Storage of documents SCOPE Storage of documents may include: • storage in directories and sub-directories • storage on CD Roms, hard and floppy disk drives or back up systems • appropriate storage / filing of hard copies of computer generated documents • appropriate storage / filing of hard copies of incoming and outgoing facsimiles • appropriate storage / filing of incoming and outgoing correspondence Appropriate technical help Appropriate technical help may include: • on screen help • manuals and handbooks • computer help-desk personnel • managers and supervisors • designated technology assistance staff • external staff employed by, or recommended by the manufacturer of the equipment or the software supplier to assist with difficulties EVIDENCE GUIDE Context for assessment: Assessment of performance requirements in the unit should be undertaken in an industry context. Aspects of competency, including attainment of relevant knowledge and skills may be assessed in a simulated work environment. Competency is demonstrated by performance of all stated criteria including the Range of Variables applicable to the workplace. Specialised resources required for training and assessment include: • availability of qualified assessors • systems which facilitate recording of trainees' profiles and progress • facilities for workplace or simulated environment assessment Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 29 FNBFS04A - USE TECHNOLOGY IN THE WORKPLACE EVIDENCE GUIDE Critical aspects of evidence will include: • awareness of range and types of office technology • ability to appropriately and efficiently use technology • basic computer literacy, including the Internet • knowledge of basic repair and maintenance procedures • knowledge of relevant OH&S procedures • knowledge of appropriate legislation, codes of practice, company guidelines and procedures Interdependent assessment of units: This unit should be assessed after competency has been demonstrated in: FNBFS05A - Apply Health and Safety Practices. Workplace Outcomes (Underpinning knowledge and skills): The Evidence Guide is a guideline which assists in the development of assessment instruments/tools to assess the competency of workers in the Financial Services sector. This requires evidence of consistent achievement of the workplace outcomes covered by the unit. An employee working at this level should be able to demonstrate the following underpinning knowledge and skills. Underpinning knowledge includes: • knowledge of available technology and its uses • knowledge of best practice use of technology • knowledge of operating instructions • knowledge of industry and/or company security practices and the reasons for such practices • knowledge of appropriate software • knowledge of basic computer applications, including the Internet • knowledge of basic communication techniques • knowledge of company policy in regard to information technology, equipment repairs and maintenance • knowledge of data storage and retrieval techniques • knowledge of appropriate equipment start up and shutdown techniques Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 30 FNBFS04A - USE TECHNOLOGY IN THE WORKPLACE EVIDENCE GUIDE Underpinning skills include: • interpersonal and communication skills • time management skills • office equipment operation skills • basic computer literacy • identification and use of appropriate software, including the Internet • referral skills Key Competencies: Utilisation of the Key Competencies in the performance of this unit Level of utilisation of Key Competencies (1 – perform; 2 – administer; 3 – design) Communicating ideas and information Collecting, analysing and organising information Planning and organising activities Working with others in a team Using mathematica l ideas and techniques Solving problems Using technology 1 1 1 1 1 1 1 Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 31 FNBFS05A - APPLY HEALTH AND SAFETY PRACTICES IN THE WORKPLACE FNBFS05A Apply health and safety practices in the workplace Stream Financial Services Functional Area Core National Code FNBFS05A Unit Description This unit covers Health and Safety aspects of work within a Financial Services Environment. This unit incorporates Worksafe Australia’s generic ‘Competency A’ which is directly equivalent to the National Administration Competency Standards (Private Sector) 2nd Edition BSAENT202 Follow Occupational Health & Safety (OH&S) Policies and Procedures in the Workplace in order to ensure own safety and that of others in the Workplace. ELEMENT 1. 2. Follow workplace procedures for hazard identification and risk control Contribute to participative arrangements for the management of Health and safety PERFORMANCE CRITERIA a) Hazards in the work area are recognised and reported to designated personnel according to workplace procedures. b) Workplace procedures and work instructions controlling risks are followed accurately. c) Workplace procedures for dealing with accidents, fire and emergencies are followed whenever necessary within the scope of responsibilities and competencies. d) All work areas are kept clean and free from obstacles. e) All emergency exits are known and kept clear at all times. a) Health and safety issues are raised with designated personnel in accordance with workplace procedures and relevant legislation. b) Contributions to health and safety management in the workplace are made within organisation’s policies and procedures and within the scope of the employee’s responsibilities and competencies. c) Relevant health and safety documents are identified, periodically accessed, and their recommendations followed. d) Clarification of obligations, procedures, and safe work practices is sought when necessary. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority for Retail Financial Services Competency Standards for Review by 30/06/2003 32 FNBFS05A - APPLY HEALTH AND SAFETY PRACTICES IN THE WORKPLACE ELEMENT 3. Employ safe working practices PERFORMANCE CRITERIA a) Health and safety procedures are applied at all times in daily work routines. b) Work is conducted within ergonomic guidelines. c) Hazard warnings and safety signs are recognised and observed. d) All hazardous materials and equipment are handled in accordance with manufacturer’s guidelines and specified safe handling guidelines. e) Safe manual handling techniques and safe equipment operation techniques are employed at all times. f) Workplace emergency first aid procedures are followed. g) Potentially hazardous situations when identified, including faulty and dangerous equipment, are immediately reported. RANGE OF VARIABLES VARIABLE The workplace SCOPE The workplace may include: • corporate or company offices, factories or sites • home offices • rented accommodation • the offices, property or dwellings of clients • motor vehicles or other transportation Hazards Hazards may include: • electrical faults • loose objects • loose fixtures • chemicals • plant or equipment • motor vehicles • obstructions Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 33 FNBFS05A - APPLY HEALTH AND SAFETY PRACTICES IN THE WORKPLACE RANGE OF VARIABLES VARIABLE Designated personnel SCOPE Designated personnel may include: • individual employees • staff assigned as health and safety representatives • managers or supervisors Organisational/workplace procedures Workplace procedures are those day to day procedures conducted in the normal course of duties and which are carried out in accordance with written and/or accepted guidelines for safe work practices. Work instructions Work instructions can be: • written • verbal and should relate directly to the application of safe work practices. Scope of responsibilities Scope of responsibilities refer to the level of responsibilities that the employee has assigned to their position from time to time. Work areas Work areas are those areas used constantly or from time to time for the performance of work in the financial services industry. Relevant health and safety legislation/ guidelines Relevant include” Relevant health and safety documents Relevant health and safety documents include: health and safety legislation/ guidelines • Commonwealth and State health and safety (including OH&S) legislation and procedures • internal documents relating to health and safety practices and procedures, implementation, updates and legislation • external documents relating to health and safety practices and procedures, implementation, updates and legislation Health and safety procedures Health and safety procedures are those procedures that specifically relate to maintaining health and safety in the workplace. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 34 FNBFS05A - APPLY HEALTH AND SAFETY PRACTICES IN THE WORKPLACE RANGE OF VARIABLES VARIABLE Ergonomic guidelines SCOPE Ergonomic guidelines may specify: • the types of equipment used • appropriate furniture • safe usage times • seating posture • lifting posture • visual display unit screen brightness Hazard warnings and safety signs Hazard warnings and safety signs may include: • internationally recognised hazard warning signs and safety symbols • industry recognised hazard warning signs and safety symbols Safe manual handling techniques and safe equipment operation techniques Safe manual handling techniques and safe equipment operation techniques are those specified in legislation, company guidelines and procedure manuals. EVIDENCE GUIDE Context for assessment: Assessment of performance requirements in the unit should be undertaken in an industry context. Aspects of competency, including attainment of relevant knowledge and skills may be assessed in a simulated work environment. Competency is demonstrated by performance of all stated criteria including the Range of Variables applicable to the workplace. Specialised resources required for training and assessment include: • availability of qualified assessors • systems which facilitate recording of trainees' profiles and progress • facilities for workplace or simulated environment assessment Critical aspects of evidence will include: • knowledge of Health and Safety legislation, guidelines and procedures • identification (evidence of knowledge) of significant hazards in the workplace • identification (evidence of understanding) of symbols used for Health and Safety signs Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 35 FNBFS05A - APPLY HEALTH AND SAFETY PRACTICES IN THE WORKPLACE EVIDENCE GUIDE • demonstrated knowledge of emergency procedures • demonstrated knowledge of safe work practices, including ergonomic requirements • demonstrated ability to recognise and avoid potentially hazardous situations Interdependent assessment of units: This unit may be assessed in conjunction with: FNBFS04A - Use Technology in the Workplace. Workplace outcomes (Underpinning knowledge and skills): The Evidence Guide is a guideline which assists in the development of assessment instruments/tools to assess the competency of workers in the Financial Services Industry. This requires evidence of consistent achievement of the workplace outcomes covered by the unit. An employee working at this level should be able to demonstrate the following underpinning knowledge and skills. Underpinning knowledge includes: • knowledge of Health and Safety legislation and procedures • knowledge of safe work practices • knowledge of hazard signs and safety symbols • knowledge of communication techniques Underpinning skills include: • application of safe work practices • basic interpersonal and communication skills • referral skills Key competencies: Utilisation of the key competencies in the performance of this unit Level of utilisation of key competencies (1 – perform; 2 – administer; 3 – design) Communicating ideas and information Collecting, analysing and organising information Planning and organising activities Working with others in a team Using mathematica l ideas and techniques Solving problems Using technology 1 1 1 1 1 1 1 Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 36 FNARFS06A - PROCESS LOAN APPLICATIONS FNARFS06A Process loan applications Stream Retail Financial Services Functional Area Provide Retail Financial Services Sub Functional Area Provide Loans National Code FNARFS06A Unit Description This unit covers enquiries and applications related to the provision of both secured and unsecured consumer loans from initial inquiry through to offer of loan. ELEMENT 1. 2. Satisfy loan enquiry Collate information to support loan application PERFORMANCE CRITERIA a) Customer enquiry on the type, range and availability of loans is satisfied. b) Loan information is provided in ways which: – show courtesy and respect for the customer – recognise the special needs of the customer c) Basic requirements, amount, term and interest rate are ascertained. d) Deposit requirements are determined in accordance with loan policy. e) Loan details are provided to customer after calculation. f) Requirements of Consumer Credit Code and Industry Codes of Practice are met. a) Information required to support loan application is gathered in accordance with loan policy for: – Consumer Credit Code – compliance – security b) Information is recorded using correct organisation’s policies and procedures. c) Information provided by applicant and obtained from other sources is verified for accuracy and compliance with Consumer Credit Code, Privacy Act, secrecy laws and company policy, eg., credit history, type of loan d) Completed information is conveyed to approving officer for credit assessment. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 37 FNARFS06A - PROCESS LOAN APPLICATIONS ELEMENT 3. Process loan PERFORMANCE CRITERIA a) Documentation is produced in accordance with industry, company and legislative requirements. b) Approval of offer/non-offer of loan is determined. c) Loan schedule is produced in accordance with offer. d) Loan execution is finalised in accordance with policy. RANGE OF VARIABLES VARIABLE SCOPE Customer enquiry Loan enquiry can be made by customer using a range of telecommunication media, such as telephone, computer. Special needs In responding to the enquiry, the language needs of the customer and any special needs related to age, disability or cultural background should be recognised. Loan policy Loan policy includes reference to: • security requirements • income • satisfactory credit history Loan schedule/details Loan schedule and loan offer may be produced manually or via loan schedule software. Loan schedule/details include: • term of loan • interest rate • repayment amount Information Consumer Credit Code may or may not be applicable. Application may be for consumer or commercial purpose. Information can be recorded manually or electronically. Information can be obtained via: • face to face interview (lenders office, applicants home, worksite, off-site) • teleconference Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 38 FNARFS06A - PROCESS LOAN APPLICATIONS RANGE OF VARIABLES VARIABLE Information (cont’d) SCOPE • telephone • internet • facsimile • mail Security Security may include real property mortgage, goods mortgage, third party security (co-borrower or guarantor). Application may be for an unsecured or secured loan. Organisation’s policies and procedures Organisation’s policies and procedures may include information in regard to: • administrative and clerical systems • product/account and service range • size, type and location of branch • range of responsibility • types of equipment used Assessment Approval may be fully assessed manually or supported by loan assessment technology. Customer’s prior borrowing history may be referenced through own records, CRAA or other financial institutions. Lender may or may not require Mortgage Indemnity Insurance. Assessment may be made by the interviewer or designated loan approval staff, or through a central lending unit. Relevant legislation Relevant legislation may include: Codes of Practice Consumer • Consumer Credit Code • Privacy Act • secrecy laws Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 39 FNARFS06A - PROCESS LOAN APPLICATIONS RANGE OF VARIABLES VARIABLE Relevant legislation (cont’d) SCOPE Competition • ACCC Prudential • FI Code • CRAA • EFT Code of Conduct • Financial Transaction Reports Act • Cheques and Payment Orders Act Documentation Documentation could include security disclosure and associated documents. documents, Documents may be produced by lending interviewer or by central loans processing unit. Loan execution Loan execution may need to be witnessed by a third party or by a solicitor, rather than the lending institution. EVIDENCE GUIDE Context for assessment: Assessment of performance requirements in the unit should be undertaken in an industry context. Aspects of competency, including attainment of relevant knowledge and skills may be assessed in a simulated work environment. Competency is demonstrated by performance of all stated criteria according to the Range of Variables applicable to the workplace. Specialised resources required for training and assessment include: • availability of qualified assessors • system which facilitates recording of trainees' profiles and progress • facilities for workplace or simulated environment assessment Critical aspects of evidence will include: • precise checking to ensure that loan application details are accurate • basic knowledge of relevant legislation • sound communication skills in dealing with and interviewing customers • sound understanding and implementation of loan policy in accordance with Consumer Credit Code • ability to use relevant data entry, office equipment and loan assessment software Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 40 FNARFS06A - PROCESS LOAN APPLICATIONS EVIDENCE GUIDE Interdependent assessment of units: This unit may be assessed independently. Workplace outcomes (Underpinning knowledge and skills): The Evidence Guide is a guideline which assists in the development of assessment instruments/tools to assess the competency of workers in the Retail Financial Services sector. This requires evidence of consistent achievement of the workplace outcomes covered by the unit. An employee working at this level should be able to demonstrate the following underpinning knowledge and skills. Underpinning knowledge includes: • policies and procedures in regard to customer service and techniques • relevant legislation and statutory requirements • Industry Codes of Practice including Consumer Credit Code, Privacy Act, Credit Act • questioning/listening techniques • security checking procedures • introductory knowledge of – the finance industry – business communication – business law • knowledge of – loan products available – features of each loan – requirements for application – appropriate documentation • knowledge of the operation and maintenance of equipment which may include: – keyboard skills – security equipment – terminals – numerical displays boards – calculators – scanners Underpinning skills include: • literacy skills in regard to written documentation • time management skills • interview and communication skills • assessment skills Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 41 FNARFS06A - PROCESS LOAN APPLICATIONS EVIDENCE GUIDE • numeracy skills in regard to calculating premiums • use of loan assessment software • proof reading skills Key competencies: Utilisation of the key competencies in the performance of this unit. Level of utilisation of key competencies (1 – perform; 2 – administer; 3 – design) Communicating ideas and information Collecting, analysing and organising information Planning and organising activities Working with others in a team Using mathematical ideas and techniques Solving problems Using technology 2 2 1 1 2 1 1 Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 42 FNARFS07A - SETTLE LOANS FNARFS07A Settle loans Stream Retail Financial Services Functional Area Provide Retail Financial Services Sub Functional Area Provide Loans National Code FNARFS07A Unit Description This unit describes those functions associated with the settlement and disbursement of funds associated with approved loans. ELEMENT 1. 2. 3. Establish loan account Disburse funds Register securities PERFORMANCE CRITERIA a) Loan documentation is checked to ensure it is signed in accordance with organisation’s policies, procedures and relevant legislation. b) Loan accounts are established as either new loan or top up of existing debt in accordance with organisation’s policies and procedures. a) Funds are disbursed in accordance with requirements in relation to loan settlement. b) Loan documentation is stored in accordance with organisation’s policies and procedures. a) Securities are registered in accordance organisation’s policies and procedures. with b) Registration of securities takes account requirements and relevant legislation. loan of RANGE OF VARIABLES VARIABLE Documentation SCOPE Documents might be stored via paper/hard copy or electronic means. Documentation may be stored at lending branch site, centralised site or with another organisation. Organisation’s policies and procedures Organisation information includes policies and procedures in regard to administrative and clerical systems, product/account and service range, size, type and location of branch, range of responsibility, types of equipment used. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 43 FNARFS07A - SETTLE LOANS RANGE OF VARIABLES VARIABLE Relevant legislation SCOPE Relevant legislation may include: Consumer • Consumer Credit Code • Privacy Act • secrecy laws • Codes of Practice • Chattels and Securities Act Competition • ACCC Prudential • FI Code • CRAA • EFT Code of Conduct • Financial Transaction Reports Act • Cheques and Payment Orders Act Funds disbursement Funds could be disbursed through: • property settlement • issuing a cheque to applicant • issuing a cheque to a 3rd party • crediting an account • marking up a limit Drawdown could be for a new loan or a top-up of existing debt. Dispersal of funds may / may not be conditional on adequate mortgage insurance from borrower. Loan settlement Settlement could occur at lenders site or another site. Loans are settled by lending organisations such as banks, building societies, credit unions and mortgage managers/originators. Trustees, securitisers and wholesalers of funds to lenders should have procedures in place to ensure loans are settled in accordance with relevant legislation and the requirements of the lending organisation. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 44 FNARFS07A - SETTLE LOANS EVIDENCE GUIDE Context for assessment: Assessment of performance requirements in the unit should be undertaken in an industry context. Aspects of competency, including attainment of relevant knowledge and skills may be assessed in a simulated work environment. Competency is demonstrated by performance of all stated criteria according to the Range of Variables applicable to the workplace. Specialised resources required for training and assessment include: • availability of qualified assessors • system which facilitates recording of trainees' profiles and progress • facilities for workplace or simulated environment assessment Critical aspects of evidence will include: • precise checking of loan disbursement details • sound knowledge of relevant legislation • comprehensive understanding and implementation of loan policy and Industry Codes of Practice • ability to use relevant data entry and office equipment Interdependent assessment of units: Competency in this unit should be demonstrated either prior to or in conjunction with assessment of the current unit. FNARFS06A - Process Loan Applications Workplace outcomes (Underpinning knowledge and skills): The Evidence Guide is a guideline which assists in the development of assessment instruments/tools to assess the competency of workers in the Retail Financial Services sector. This requires evidence of consistent achievement of the workplace outcomes covered by the unit. An employee working at this level should be able to demonstrate the following underpinning knowledge and skills. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 45 FNARFS07A - SETTLE LOANS EVIDENCE GUIDE Underpinning knowledge includes: • knowledge of policies and procedures in regard to opening an account, storage and register • knowledge of relevant legislation and statutory requirements • knowledge of Industry Codes of Practice including Consumer Credit Code, Privacy Act, Credit Act • knowledge of questioning/listening techniques • introductory knowledge of – the finance industry – business communication – business law • knowledge of financial accounting techniques • knowledge of loan application process • knowledge of – loan products available – features of each loan – requirements for application – appropriate documentation • knowledge of the operation and maintenance of equipment which may include: – keyboard skills – security equipment – terminals – numerical displays boards – calculators – scanners Underpinning skills include: • literacy skills in regard to written documentation • time management skills • recording skills • proof reading skills • use of loan assessment software • decision making skills • communication skills • numeracy skills in regard to calculating premiums, repayment rate Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 46 FNARFS07A - SETTLE LOANS EVIDENCE GUIDE • negotiation and conflict resolution skills • assessment skills Key competencies: Utilisation of the key competencies in the performance of this unit. Level of utilisation of key competencies (1 – perform; 2 – administer; 3 – design) Communicating ideas and information Collecting, analysing and organising information Planning and organising activities Working with others in a team Using mathematical ideas and techniques Solving problems Using technology 2 2 1 1 2 1 1 Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 47 FNARFS08A - ADMINISTER CONSUMER LOANS FNARFS08A Administer consumer loans Stream Retail Financial Services Functional Area Provide Retail Financial Services Sub Functional Area Provide Loans National Code FNARFS08A Unit Description This unit describes the functions associated with the administering and monitoring of new or existing consumer loans. ELEMENT 1. 2. 3. 4. Monitor loan performance Assist customer to manage loan Negotiate with customer for debt collection Administer delinquent loans PERFORMANCE CRITERIA a) Loans are monitored for: – breaches – changes in customer circumstances b) Information to assist monitoring of changes to loan conditions is acquired and maintained. c) Regular review / monitoring is established for large amounts. d) Arrears are monitored through regular reviews. a) Customer is advised of changes to loan requirements. b) Awareness of actual changes in loan requirements or potential for difficulties is verified with customer. c) Actual / potential problem areas for customer in managing loan are identified. d) Customers in need of financial counselling are referred to appropriate financial counselling services. a) Details of any arrears are provided to customer. b) Reasons for arrears are established with customer. c) Suitable arrangements for repayment are negotiated in accordance with company credit control policies. a) Loan status is assessed and delinquent loans are identified. b) Documentation to support proceedings is prepared. c) Cases are referred to appropriate person / organisation to instigate legal proceedings according to company’s loan management procedures. d) All necessary documentation is completed in accordance with credit control policies and reporting requirements. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 48 FNARFS08A - ADMINISTER CONSUMER LOANS RANGE OF VARIABLES VARIABLE Loan monitoring SCOPE Breaches in borrowing arrangements could include: • late payment • default Notification of changed problems can be: circumstances / potential • through written and/or verbal communication • in response to an inquiry • identified by continuous monitoring Loan monitoring can occur through a variety of means including: • manual records checking • information from third party organisation monitoring loan • generated by loan management computer technologies Loan conditions Loan conditions can vary due to: • legislation changes • interest rate movements • competitors products • economic environment • market policies • type of loan Financial counselling Preparedness of organisation to provide these services through: • internal contacts • referral to outside agency Organisation’s policies and procedures Organisation information includes policies and procedures in regard to administrative and clerical systems, product/account and service range, size, type and location of branch, range of responsibility and types of equipment used. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 49 FNARFS08A - ADMINISTER CONSUMER LOANS RANGE OF VARIABLES VARIABLE Delinquent loans SCOPE Includes reporting procedures required by company policy such as: • credit risk • credit standards • recovery procedures Appropriate person/ organisation Could include supervisor/manager, designated debt collection staff, internal/external company solicitors or authorised third party debt collection agencies. Loan management procedures Loans are managed by lending organisations such as banks, building societies, credit unions and mortgage managers/originators. Trustees, securitisers and wholesalers of funds to lenders should have procedures in place to ensure loans are managed in accordance with relevant legislation and the requirements of the lending organisation. The relevant mortgage insurers or trustees need to be appraised of defaults, arrears, variations in loans. Relevant legislation Relevant legislation may include: Consumer • Consumer Credit Code • Privacy Act • secrecy laws • Codes of Practice Competition • ACCC Relevant legislation (cont’d) Prudential • FI Code • CRAA • EFT Code of Conduct • Financial Transaction Reports Act • Cheques and Payment Orders Act EVIDENCE GUIDE Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 50 FNARFS08A - ADMINISTER CONSUMER LOANS EVIDENCE GUIDE Context for assessment: Assessment of performance requirements in the unit should be undertaken in an industry context. Aspects of competency, including attainment of relevant knowledge and skills may be assessed in a simulated work environment. Competency is demonstrated by performance of all stated criteria according to the Range of Variables applicable to the workplace. Specialised resources required for training and assessment include: • availability of qualified assessors • system which facilitates recording of trainees' profiles and progress • facilities for workplace or simulated environment assessment Critical aspects of evidence will include: • thorough checking of loan performance details • detailed knowledge of relevant legislation • strong communication, counselling, negotiation and conflict resolution skills in dealing with customers • comprehensive understanding and implementation of loan policy and Industry Codes of Practice • ability to use relevant data entry and office equipment • sound assessment skills Interdependent assessment of units: Competency in these units should be demonstrated either prior to or in conjunction with assessment of the current unit. FNBFS01A – Work Within a Financial Services Context FNBFS02A – Communicate in the Workplace FNBFS03A – Work as Part of a Team FNBFS04A – Use Technology in the Workplace FNBFS05A – Apply Health and Safety Practices in the Workplace FNBFS06A – Resolve Customer Complaints and in units: FNARFS06A - Process Loan Applications FNARFS07A - Settle Loans Workplace outcomes (Underpinning knowledge and skills): The Evidence Guide is a guideline which assists in the development of assessment instruments/tools to assess the competency of workers in the Retail Financial Services sector. This requires evidence of consistent achievement of the workplace outcomes covered by the unit. An employee working at this level should be able to demonstrate the following underpinning knowledge and skills. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 51 FNARFS08A - ADMINISTER CONSUMER LOANS EVIDENCE GUIDE Underpinning knowledge includes: • knowledge of policies and procedures in regard to delinquent loans and debt collection • knowledge of relevant legislation and statutory requirements • knowledge of Industry Codes of Practice including Consumer Credit Code, Privacy Act, Credit Act • introductory knowledge of – the finance industry – business communication – business law • knowledge of security checking procedures • knowledge of – features of each loan – changes to loan conditions • knowledge of the operation and maintenance of equipment which may include: – keyboard skills – security equipment – terminals – numerical displays boards – calculators – scanners • questioning/listening techniques Underpinning skills include: • literacy skills in regard to written documentation • time management skills • counselling skills • numeracy skills in regard to calculating premiums, repayment rate • negotiation and conflict resolution skills • assessment skills Key competencies: Utilisation of the key competencies in the performance of this unit. Level of utilisation of key competencies (1 – perform; 2 – administer; 3 – design) Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 52 FNARFS08A - ADMINISTER CONSUMER LOANS Communicating ideas and information Collecting, analysing and organising information Planning and organising activities Working with others in a team Using mathematical ideas and techniques Solving problems Using technology 2 2 1 1 2 1 1 Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 53 FNARFS09A - PROCESS CUSTOMER ACCOUNTS FNARFS09A Process customer accounts Stream Retail Financial Services Functional Area Provide Retail Financial Services Sub Functional Area Maintain and Service Customer Accounts National Code FNARFS09A Unit Description This unit describes those functions associated with access to and provision of a range of customer account services. ELEMENT 1. 2. Identify customer account needs Open/close/transfer customer account PERFORMANCE CRITERIA a) Requests for information on the range, options and features of account services available are responded to, or referred if necessary to other authorised personnel. b) Customers are assisted when deciding on suitable products by: – outlining features of each product – matching features to customer needs – providing calculations/figures on options – providing information on conditions of each product c) Customers are assisted when completing documentation for selected services/products. a) Enquiries in relation to services are responded to by providing relevant information. b) Potential account holders are interviewed to gather information required for opening/transferring account. c) Information provided is assessed for accuracy and verified according to procedures. d) Documentation that has been completed is verified for accuracy and deposits accepted ensuring that receipts and certificates are issued. e) New applications are processed in accordance with organisation’s policies and procedures to ensure: f) – accuracy – speed of application relevant Interests of customer are considered when providing information on best and cheapest way to use account. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 54 FNARFS09A - PROCESS CUSTOMER ACCOUNTS ELEMENT 3. 4. 5. Process manual transactions Process customer chequeing Process electronic transactions PERFORMANCE CRITERIA a) Customer transactions are processed in an accurate and timely manner. b) Accurate customer account details are maintained and verified using correct procedures. c) Customer complaints and disputes are resolved or referred to other authorised personnel. d) Customer accounts are rectified where necessary. e) Accurate reconciliation of subsidiary ledgers to general ledger accounts is performed in accordance with established procedures. a) Customer chequeing data is processed daily according to organisation’s policies and procedures. b) Customer chequeing database accordance with procedures. c) Daily statement entries are actioned and followed up. d) Dishonour fees and excess fees are charged as authorised. e) Reconciliations are completed in accordance organisation’s policies and procedures. f) Dates/signature details are checked and processed accordingly. a) Electronic transactions are processed according to the organisation’s policies and procedures. b) Periodical payments are processed according to the organisation’s policies and procedures. c) Transaction error records are completed according to the organisation’s policies and procedures. d) Customers are informed transaction operations. of e) Information equipment. entered is accurately is maintained delays in into in with computer/ workstation RANGE OF VARIABLES VARIABLE SCOPE Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 55 FNARFS09A - PROCESS CUSTOMER ACCOUNTS RANGE OF VARIABLES VARIABLE Account services SCOPE Account services may include: • savings • retirement • superannuation • investment services Authorised personnel Authorised personnel may include: • employees • supervisors / managers • dispute resolution officer Relevant information Relevant information on requirements for establishing / closing / transferring an account may include: • type/variety of other accounts available • reasons for transfer/close of accounts • responding to complaints and/or referring to other authorised personnel Organisation’s policies and procedures The relevant organisation’s policies and procedures may be in regard to administrative and clerical systems, product/account and service range, size, type and location of branch, range of responsibility, types of equipment used. Interests of customer Interests of customer include knowledge of the changing circumstances of the customer and how these contexts influence customers needs in relation to financial, retirement, investment and other services. This knowledge is gained through customer rapport, appreciation of external factors influencing customer and market knowledge. Transaction processing Transaction processing may be both manual and/or electronic and may include: • initiation of transaction by opening terminal • clearance of terminal and tender transferred according to procedure • completion of records for transaction errors according to policy Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 56 FNARFS09A - PROCESS CUSTOMER ACCOUNTS RANGE OF VARIABLES VARIABLE SCOPE Transaction processing (cont’d) • accurate processing of transactions into workstation equipment according to policy • accurate completion of customer application forms and transaction receipts Customer account details Customer account details may include: • investment, retirement savings • transfers from other accounts • visas and other plastic cards • insurance • electronic bill payment • EFT disputes • periodical payments • electronic payments • payroll, member chequeing, direct debit • fees charged Electronic (non-cash) transactions Transactions may include cash or non-cash transactions including EFTPOS, cheques, credit cards. Relevant legislation Relevant legislation may include: Consumer • Consumer Credit Code • Privacy Act • secrecy laws • Codes of Practice Competition • ACCC Prudential • FI Code • CRAA • EFT Code of Conduct Relevant legislation • Financial Transaction Reports Act • Cheques and Payment Orders Act Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 57 FNARFS09A - PROCESS CUSTOMER ACCOUNTS EVIDENCE GUIDE Context for assessment: Assessment of performance requirements in the unit should be undertaken in an industry context. Aspects of competency, including attainment of relevant knowledge and skills may be assessed in a simulated work environment. Competency is demonstrated by performance of all stated criteria according to the Range of Variables applicable to the workplace. Specialised resources required for training and assessment include: • availability of qualified assessors • system which facilitates recording of trainees' profiles and progress • facilities for workplace or simulated environment assessment Critical aspects of evidence will include: • thorough checking of customer account details • basic knowledge of relevant legislation • sound communication skills in dealing with customers • sound understanding of customer complaint/dispute resolution policies and procedures • understanding and implementation of customer account processing in accordance with Industry Codes of Practice and company policy • ability to use relevant data entry and office equipment • sound knowledge of range of products/fees Interdependent assessment of units: This unit may be assessed independently. Workplace outcomes (Underpinning knowledge and skills): The Evidence Guide is a guideline which assists in the development of assessment instruments/tools to assess the competency of workers in the Retail Financial Services sector. This requires evidence of consistent achievement of the workplace outcomes covered by the unit. An employee working at this level should be able to demonstrate the following underpinning knowledge and skills. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 58 FNARFS09A - PROCESS CUSTOMER ACCOUNTS EVIDENCE GUIDE Underpinning knowledge includes: • knowledge of policies and procedures in regard to customer account service and techniques • knowledge of relevant legislation and statutory requirements • knowledge of Industry Codes of Practice including Consumer Credit Code, Privacy Act, Credit Act • knowledge of questioning/listening technique • security checking procedures • introductory knowledge of – the finance industry – business communication – accounting principles – business law • knowledge of – customer service – customer relations • knowledge of – products available – features of each account eg savings, cheque, loan, credit card – requirements for application – appropriate documentation • knowledge of the operation and maintenance of equipment which may include: – keyboard skills – security equipment – terminals – numerical displays boards – calculators – scanners Underpinning skills include: • literacy skills in regard to written documentation • time management skills • communication skills • numeracy skills in regard to calculating cash and non cash transaction totals • use of customer account software • assessment skills Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 59 FNARFS09A - PROCESS CUSTOMER ACCOUNTS EVIDENCE GUIDE Key Competencies: Utilisation of the Key Competencies in the performance of this unit. Level of utilisation of Key Competencies (1 – perform; 2 – administer; 3 – design) Communicating ideas and information Collecting, analysing and organising information Planning and organising activities Working with others in a team Using mathematical ideas and techniques Solving problems Using technology 2 1 1 1 1 2 1 Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 60 FNARFS10A - MAINTAIN ATM SERVICES FNARFS10A Maintain ATM services Stream Retail Financial Services Functional Area Provide Retail Financial Services Sub Functional Area Maintain and Service Customer Accounts National Code FNARFS10A Unit Description This unit describes those functions associated with the provision and maintenance of a range of services associated with ATM services. ELEMENT 1. 2. 3. Restock and service ATM machines Replenish and balance cash in ATM Maintain security of ATM cash PERFORMANCE CRITERIA a) ATM's are restocked and serviced in accordance with correct procedure, and include: – machine stationery – customer reports/complaints of error/fault b) Key information displayed at machine is verified to ensure it is current and legible. c) Action cards are handled according to organisation’s policies and procedure. d) The cleaning and operational checking of ATM machines are ensured. e) Faults and ATM malfunctions are acknowledged and corrective action initiated to resolve faults in a timely manner. a) Cash in ATM is checked to ensure it complies with organisation’s policies and procedures for cash levels. b) Cash is counted and entered on cash recording documentation. c) Deposits made through ATM’s are processed / actioned in accordance with organisation’s policies and procedures. d) Discrepancies between machine tape records and cash are actioned, or referred to authorised personnel in accordance with organisation’s policies and procedures. e) Cash balance records in machines are verified for accuracy and made available to authorised personnel. a) ATM cartridges are replenished in secure area. b) Confidentiality of access to machine cash is maintained. c) Restock and servicing of ATM is timed to comply with security guidelines. d) Alteration of access to a machine is recorded in correct format and authorised personnel notified. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 61 FNARFS10A - MAINTAIN ATM SERVICES RANGE OF VARIABLES VARIABLE SCOPE Organisation’s policies and procedures Organisation’s policies and procedures may be in regard to administrative and clerical systems, product/account and service range, size, type and location of branch, range of responsibility, types of equipment used. Key information Key information displayed on ATM machines may include: • hours of operation • contact numbers • instructions • cards accepted Action cards Action cards may include expired, damaged or stolen cards. Corrective action Corrective action may include: • diagnosing, correcting, testing, recommissioning • referring of problems to other personnel • displaying notice of fault and delay Authorised personnel Authorised personnel may include: • employees • supervisors / managers • relevant accounting personnel Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 62 FNARFS10A - MAINTAIN ATM SERVICES RANGE OF VARIABLES VARIABLE Relevant legislation SCOPE Relevant legislation may include: Consumer • Consumer Credit Code • Privacy Act • secrecy laws • Codes of Practice Competition • ACCC Prudential • FI Code • CRAA • EFT Code of Conduct • Financial Transaction Reports Act • Cheques and Payment Orders Act EVIDENCE GUIDE Context for assessment: Assessment of performance requirements in the unit should be undertaken in an industry context. Aspects of competency, including attainment of relevant knowledge and skills may be assessed in a simulated work environment. Competency is demonstrated by performance of all stated criteria according to the Range of Variables applicable to the workplace. Specialised resources required for training and assessment include: • availability of qualified assessors • system which facilitates recording of trainees' profiles and progress • facilities for workplace or simulated environment assessment Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 63 FNARFS10A - MAINTAIN ATM SERVICES EVIDENCE GUIDE Critical aspects of evidence will include: • precise checking of cash balances • thorough understanding of ATM operations • sound knowledge of relevant legislation • comprehensive knowledge of security guidelines relating to use of ATM’s • general understanding and implementation of Industry Codes of Practice • ability to use relevant data entry and office equipment Interdependent assessment of units: This unit should be assessed after competency has been demonstrated prior to or in conjunction with unit: FNARFS09A - Process Customer Accounts Workplace outcomes (Underpinning knowledge and skills): The Evidence Guide is a guideline which assists in the development of assessment instruments/tools to assess the competency of workers in the Retail Financial Services sector. This requires evidence of consistent achievement of the workplace outcomes covered by the unit. An employee working at this level should be able to demonstrate the following underpinning knowledge and skills. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 64 FNARFS10A - MAINTAIN ATM SERVICES EVIDENCE GUIDE Underpinning knowledge includes: • knowledge of policies and procedures in regard to electronic banking and security • knowledge of relevant legislation and statutory requirements • knowledge of Industry Codes of Practice including Consumer Credit Code, Privacy Act, Credit Act • knowledge of security checking procedures • introductory knowledge of – the finance industry – accounting principles – business law • knowledge of ATM – restocking – fault diagnosis and checking – security – record checking and record keeping • knowledge of the operation and maintenance of equipment which may include: – keyboard skills – security equipment – terminals – numerical displays boards – calculators – scanners Underpinning skills include: • literacy skills in regard to written documentation • time management skills • interview and communication skills • cash balancing skills • numeracy skills in regard to calculating cash and non cash transaction totals Key competencies: Utilisation of the key competencies in the performance of this unit. Level of utilisation of key competencies (1 – perform; 2 – administer; 3 – design) Communicating ideas and information Collecting, analysing and organising information Planning and organising activities Working with others in a team Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Using mathematical ideas and techniques Solving problems Using technology Retail Financial Services Competency Standards for Review by 30/06/2003 65 FNARFS10A - MAINTAIN ATM SERVICES EVIDENCE GUIDE 2 2 1 1 Financial Services Training Package FNB99:Version 4 © Australian National Training Authority 2 1 1 Retail Financial Services Competency Standards for Review by 30/06/2003 66 FNARFS11A - ADMINISTER CARD SERVICES FNARFS11A Administer card services Stream Retail Financial Services Functional Area Provide Retail Financial Services Sub Functional Area Maintain and Service Customer Accounts National Code FNARFS11A Unit Description This unit describes those functions associated with the provision and maintenance of a range of electronic banking card services. ELEMENT 1. 2. 3. Process applications for transaction cards Process card transaction Administer card database PERFORMANCE CRITERIA a) Information is gathered as required to support application for card. b) Application is completed and processed in accordance with procedures. c) Customers are notified of approval / disapproval of application. d) Card issuing and distribution are processed in accordance with procedures. a) Customers are provided with information on transaction cards. b) Consultation or referral to other personnel occurs in order to determine details required. c) Card transactions are processed in accordance with organisation’s policies and procedures. d) Complaints and enquiries are processed in accordance with the EFT Code of Conduct for captured and hot listed cards. a) Card database is administered in accordance with the organisation’s policies and procedures. b) Duplicate transactions and charge-backs are identified and processed according to organisation’s policies and procedures. c) Card security procedures are checked appropriate procedures are in place. to ensure RANGE OF VARIABLES VARIABLE Cards SCOPE Cards may include a range of Visa, credit, transaction and other cards recognised by the organisation. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 67 FNARFS11A - ADMINISTER CARD SERVICES RANGE OF VARIABLES VARIABLE SCOPE Organisation’s policies and procedures Organisation information includes policies and procedures in regard to administrative and clerical systems, product/account and service range, size, type and location of branch, range of responsibility, types of equipment used. Information on transaction cards Information on transaction cards may include: • type of card available • procedures for applying for card • details of related products as applicable • terms and conditions of card use Other personnel Other personnel may include employees or supervisors / managers. Hot listed cards Hot listed cards refer to cards reported as stolen or lost, or fraudulent cards. Card security procedures Card security procedures may include: • confidentiality of information held • procedures to identify card holder • encryption to prevent illegal access • procedures in the event of loss or theft of card Relevant legislation Relevant legislation may include: Consumer • Consumer Credit Code • Privacy Act • secrecy laws • Codes of Practice Competition • ACCC Relevant legislation (cont’d) Prudential • FI Code • CRAA • EFT Code of Conduct • Financial Transaction Reports Act • Cheques and Payment Orders Act Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 68 FNARFS11A - ADMINISTER CARD SERVICES EVIDENCE GUIDE Context for assessment: Assessment of performance requirements in the unit should be undertaken in an industry context. Aspects of competency, including attainment of relevant knowledge and skills may be assessed in a simulated work environment. Competency is demonstrated by performance of all stated criteria according to the Range of Variables applicable to the workplace. Specialised resources required for training and assessment include: • availability of qualified assessors • system which facilitates recording of trainees' profiles and progress • facilities for workplace or simulated environment assessment Critical aspects of evidence will include: • thorough checking of card database information • detailed knowledge of relevant legislation • comprehensive knowledge of card security procedures • strong communication skills in dealing with customers • comprehensive understanding and implementation of Industry Codes of Practice • ability to use relevant data entry and office equipment Interdependent assessment of units: Competency in these units should be demonstrated either prior to or in conjunction with assessment of the current unit. FNBFS01A – Work Within a Financial Services Context FNBFS02A – Communicate in the Workplace FNBFS03A – Work as Part of a Team FNBFS04A – Use Technology in the Workplace FNBFS05A – Apply Health and Safety Practices in the Workplace FNBFS06A – Resolve Customer Complaints and in units: FNARFS09A - Process Customer Accounts FNARFS10A - Maintain ATM Services Workplace outcomes (Underpinning knowledge and skills): The Evidence Guide is a guideline which assists in the development of assessment instruments/tools to assess the competency of workers in the Retail Financial Services sector. This requires evidence of consistent achievement of the workplace outcomes covered by the unit. An employee working at this level should be able to demonstrate the following underpinning knowledge and skills. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 69 FNARFS11A - ADMINISTER CARD SERVICES EVIDENCE GUIDE Underpinning knowledge includes: • knowledge of policies and procedures in regard to electronic banking – card services and security • knowledge of relevant legislation and statutory requirements • knowledge of Industry Codes of Practice including Consumer Credit Code, Privacy Act, Credit Act • knowledge of questioning/listening techniques • knowledge of security checking procedures • introductory knowledge of – the finance industry – business communication – accounting principles – business law • knowledge of – customer relations – customer service • knowledge of – range of cards accepted – operation of card database – chargeback procedures – duplicate transaction procedures • knowledge of the operation and maintenance of equipment which may include: – keyboard skills – security equipment – terminals – numerical displays boards – calculators – scanners Underpinning skills include: • literacy skills in regard to written documentation • time management skills • numeracy skills in regard to calculating non cash transaction totals • interview and communication skills Key competencies: Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 70 FNARFS11A - ADMINISTER CARD SERVICES EVIDENCE GUIDE Utilisation of the key competencies in the performance of this unit. Level of utilisation of key competencies (1 – perform; 2 – administer; 3 – design) Communicating ideas and information Collecting, analysing and organising information Planning and organising activities Working with others in a team Using mathematical ideas and techniques Solving problems Using technology 2 2 1 1 2 1 1 Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 71 FNARFS12A - PROCESS SPECIALIST SERVICES FNARFS12A Process specialist services Stream Retail Financial Services Functional Area Provide Retail Financial Services Sub Functional Area Provide Specialist Services National Code FNARFS12A Unit Description This unit describes those functions associated with the provision of specialist services for customers (such as savings and loans, insurance, superannuation, financial planning, travel). ELEMENT 1. 2. Identify customer needs Process applications Process applications (cont’d) PERFORMANCE CRITERIA a) Enquiries in relation to products / services are responded to by providing relevant information on type/variety and range of products / services available. b) Information required for the provision of particular product/service(s) is gathered from customers. c) A comprehensive assessment of customer needs is undertaken in accordance with organisation’s policies and procedures. d) Where appropriate, a quote is provided in line with customer’s identified needs. e) Customers are provided with appropriate application forms ensuring level of disclosure conforms with relevant legislation and compliance provisions. f) Information provided to customers is consistent with relevant Codes of Practice and includes all information necessary to ensure that the organisation meets all relevant legislative and compliance provisions. a) Information provided in applications is checked for completeness according to organisation’s policies and procedures and requirements of legislative and compliance provisions. b) Where necessary appropriate liaison and approval occurs with external providers or appropriate personnel. c) Relevant documentation is completed and verified for accuracy. d) Payment for product/service is accepted and processed in accordance with organisation’s policies and procedures. e) Relevant details, terms and conditions of product/service, policy or certificate are re-enforced to customer. f) Customers are issued with policy or certificate within specified time frames. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 72 FNARFS12A - PROCESS SPECIALIST SERVICES ELEMENT 3. Renew product/service PERFORMANCE CRITERIA a) Any statutory requirements regarding documentation are met. b) Type of product/service is confirmed with customer, and information on requirements for renewal is provided prior to renewal date/acceptance. c) Customers are interviewed to ensure that current product/service meets their current/future needs. d) Information on options available to customer is provided and customer’s needs are confirmed. e) Customers are provided with appropriate renewal forms for current or changed requirements within required time frames according to relevant legislation or organisation’s policies and procedures. f) Renewals are finalised within appropriate time frames. g) All relevant documentation is completed promptly. RANGE OF VARIABLES VARIABLE SCOPE Enquiries Enquiries in relation to insurance/specialist services may relate to new products, renewals, amendments or cancellations. Products / services Products and services could include a range of: • insurance products (eg., home, car, boat, travel, personal etc.) • specialist products and services (eg., savings and investments, superannuation, travel, financial planning etc.) Relevant information Relevant information could include: • insurance cover information (eg., insurance risk of customer, appropriate level of cover required) • specialised information (eg., customer’s savings/ investment/travel plans, superannuation requirements etc.) • all associated terms and conditions, fees and charges, payment methods and requirements Organisation’s policies and procedures The organisation’s policies and procedures may include policies and procedures in regard to administrative and clerical systems, product/account and service range, size, type and location of branch, range of responsibility, types of equipment used, and roles of authorised Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 73 FNARFS12A - PROCESS SPECIALIST SERVICES RANGE OF VARIABLES VARIABLE SCOPE officers. Relevant legislation / compliance provisions Relevant legislation and compliance provisions may include or be contained in : Consumer • Consumer Credit Code • Privacy Act • secrecy laws • Codes of Practice Competition • ACCC Prudential • FI Code • CRAA • EFT Code of Conduct • Financial Transaction Reports Act • Cheques and Payment Orders Act Relevant legislation / compliance provisions (cont’d) Insurance • Insurance Contracts Act • Insurance Act • Agents and Brokers Act • General Insurance Code of Practice Relevant Codes of Practice Codes of Practice could include those relating to general insurance, investment advice, travel advice and other relevant company practices and industry/organisation specific code of conduct and compliance. External providers External providers could include insurance cover provider, approved financial adviser, travel company, insurance underwriters, other financial institutions, insurance brokers. Appropriate personnel Appropriate personnel may include supervisor, manager or other employees with expertise in particular product/service area. Relevant documentation Relevant documentation could include proposals, cover notes, policies, schedules, plans, renewals, travel bookings, tickets, financial prospectuses, bonds, financial portfolios, share certificates, terms and Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 74 FNARFS12A - PROCESS SPECIALIST SERVICES RANGE OF VARIABLES VARIABLE SCOPE conditions, schedules of fees and charges, authority forms. Policy or certificate Policy or certificate could include insurance policy, or document setting out details of an investment (eg., certificate for a bond), terms and conditions of acceptance and renewal. EVIDENCE GUIDE Context for assessment: Assessment of performance requirements in the unit should be undertaken in an industry context. Aspects of competency, including attainment of relevant knowledge and skills may be assessed in a simulated work environment. Competency is demonstrated by performance of all stated criteria according to the Range of Variables applicable to the workplace. Specialised resources required for training and assessment include: • availability of qualified assessors • system which facilitates recording of trainees' profiles and progress • facilities for workplace or simulated environment assessment Critical aspects of evidence will include: • thorough checking of relevant documentation • sound knowledge of relevant legislation • detailed knowledge of relevant products and services • sound communication skills in dealing with customers • general understanding and implementation of Industry Codes of Practice • ability to use relevant data entry and office equipment • fulfilment of any necessary requirements (such as General Insurance Code of Practice, Australian Travel Agents Qualifications etc.) Interdependent assessment of units: This unit may be assessed independently. Workplace outcomes (Underpinning knowledge and skills): The Evidence Guide is a guideline which assists in the development of assessment instruments/tools to assess the competency of workers in the Retail Financial Services sector. This requires evidence of consistent achievement of the workplace outcomes covered by the unit. An employee working at this level should be able to demonstrate the following underpinning knowledge and skills. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 75 FNARFS12A - PROCESS SPECIALIST SERVICES EVIDENCE GUIDE Underpinning knowledge includes: • knowledge of policies and procedures in regard to specialist products and services • knowledge of relevant legislation and statutory requirements • knowledge of Industry Codes of Practice including Consumer Credit Code, Privacy Act, Credit Act • introductory knowledge of – the finance industry – business communication – accounting principles – business law • General Insurance Code of Practice or Australian Travel Agents Qualifications or other appropriate qualification relevant to the provision of specialist services • knowledge of questioning/listening techniques • knowledge of security checking procedures • knowledge of sales techniques • knowledge of customer relations • knowledge of – customer service – insurance products available – savings, investment and superannuation products – financial planning products – travel products – requirements for application – appropriate documentation • knowledge of – relevant terms and conditions – relevant fees and charges – payment authorities – methods of payment – payment requirements • knowledge of the operation and maintenance of equipment which may include – keyboard skills – security equipment – terminals – numerical displays boards – calculators – scanners Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 76 FNARFS12A - PROCESS SPECIALIST SERVICES EVIDENCE GUIDE Underpinning skills include: • literacy skills in regard to written documentation • time management skills • interview, communication and referral skills • customer service techniques • selling skills • numeracy skills in regard to calculating premiums • interpersonal liaison skills • use of insurance policy / financial planning / travel industry software • specific skills relating to specialist services provided by organisation Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 77 FNARFS12A - PROCESS SPECIALIST SERVICES Key competencies: Utilisation of the key competencies in the performance of this unit. Level of utilisation of key competencies (1 – perform; 2 – administer; 3 – design) Communicating ideas and information Collecting, analysing and organising information Planning and organising activities Working with others in a team Using mathematical ideas and techniques Solving problems Using technology 2 2 1 1 2 1 1 Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 78 FNARFS13A - ADMINISTER PORTFOLIOS FNARFS13A Administer portfolios Stream Retail Financial Services Functional Area Provide Retail Financial Services Sub Functional Area Provide Specialist Services National Code FNARFS13A Unit Description This unit describes the functions associated with the administering of new or existing insurance or specialist portfolios. ELEMENT 1. 2. 3. Identify changes to portfolio Assist customer to manage portfolio Maintain policies and portfolios PERFORMANCE CRITERIA a) Portfolio is monitored to identify any changes that may be required. b) Periodic liaison occurs with customers to ensure that their ongoing portfolio / service needs are met and to address any change in circumstances. a) Customer is advised of changes to product/service requirements. b) Customer’s awareness of actual changes in portfolio requirements is verified. c) Actual / potential problem areas for customer in the management of the portfolio are identified. a) Status of portfolio is identified, assessed and reviewed, within level of authority. b) Relevant documents are completed as required and reviewed to meet legislative requirements and organisation’s policies and procedures. c) Relevant documents are checked for accuracy and omissions. d) Completed documents are generated and despatched to customers within timelines in accordance with legislative requirements and organisation’s policies and procedures. e) Information systems are accurately updated, recorded and signed off. f) Relevant documents are accurately filed in accordance with legislative requirements and organisation’s policies and procedures. RANGE OF VARIABLES VARIABLE SCOPE Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 79 FNARFS13A - ADMINISTER PORTFOLIOS RANGE OF VARIABLES VARIABLE Portfolio monitoring SCOPE Changes could include : • action required on maturing products/annual review • changes in customer circumstances • changing market, economic environment • changes in company policy • changes in legislation • late payment, and collection arrangements • non-renewals • altered renewals • altered travel arrangements/travel availability Notification of problems can be: changed circumstances/potential • through written and/or verbal communication • in response to enquiry • identified from continuous monitoring Monitoring can occur through a variety of means, including • manual records checking • information from third party organisation monitoring portfolio / travel arrangements • generated by technologies portfolio management computer Relevant documentation Relevant documentation could include proposals, cover notes, policies, schedules, plans, renewals, travel bookings, tickets, financial prospectuses, bonds, financial portfolios, share certificates. Organisation’s policies and procedures Organisation information includes policies and procedures in regard to administrative and clerical systems, product/account and service range, size, type and location of branch, range of responsibility, types of equipment used, dispute resolution, and customer enquiries. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 80 FNARFS13A - ADMINISTER PORTFOLIOS RANGE OF VARIABLES VARIABLE Relevant legislation SCOPE Relevant legislation may include: Consumer • Consumer Credit Code • Privacy Act • Secrecy laws • Codes of Practice Competition • ACCC Prudential • FI Code • CRAA • EFT Code of Conduct • Financial Transaction Reports Act • Cheques and Payment Orders Act Insurance • Insurance Contracts Act • Insurance Act • Agents and Brokers Act • General Insurance Code of Practice EVIDENCE GUIDE Context for assessment: Assessment of performance requirements in the unit should be undertaken in an industry context. Aspects of competency, including attainment of relevant knowledge and skills may be assessed in a simulated work environment. Competency is demonstrated by performance of all stated criteria according to the Range of Variables applicable to the workplace. Specialised resources required for training and assessment include: • availability of qualified assessors • system which facilitates recording of trainees' profiles and progress • facilities for workplace or simulated environment assessment Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 81 FNARFS13A - ADMINISTER PORTFOLIOS EVIDENCE GUIDE Critical aspects of evidence will include: • thorough checking of details of specialised products and services (eg., product portfolio and plans) • detailed knowledge of relevant legislation • strong communication, counselling and negotiation skills in dealing with customers • comprehensive understanding and implementation of Industry Codes of Practice • ability to use relevant data entry and office equipment and specialised product software Interdependent assessment of units: Competency in these units should be demonstrated either prior to or in conjunction with assessment of the current unit. FNBFS01A – Work Within a Financial Services Context FNBFS02A – Communicate in the Workplace FNBFS03A – Work as Part of a Team FNBFS04A – Use Technology in the Workplace FNBFS05A – Apply Health and Safety Practices in the Workplace FNBFS06A – Resolve Customer Complaints and in unit: FNARFS12A - Process Specialist Services Workplace outcomes (Underpinning knowledge and skills): The Evidence Guide is a guideline which assists in the development of assessment instruments/tools to assess the competency of workers in the Retail Financial Services sector. This requires evidence of consistent achievement of the workplace outcomes covered by the unit. An employee working at this level should be able to demonstrate the following underpinning knowledge and skills. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 82 FNARFS13A - ADMINISTER PORTFOLIOS EVIDENCE GUIDE Underpinning knowledge includes: • knowledge of policies and procedures in regard to specialist products and services • knowledge of relevant legislation and statutory requirements • knowledge of Industry Codes of Practice including Consumer Credit Code, Privacy Act, Credit Act • knowledge of questioning/listening techniques • introductory knowledge of – the finance industry – business communication – business law • knowledge of security checking procedures • knowledge of – customer service – insurance products available – savings, investment and superannuation products – financial planning products – travel products – appropriate documentation • knowledge of the operation and maintenance of equipment which may include: – keyboard operations – security equipment – terminals – numerical displays boards – calculators – scanners Underpinning skills include: • literacy skills in regard to written documentation • time management skills • use of specialist product/services software • monitoring skills • problem solving skills • numeracy skills in regard to calculating premiums, repayment rates Key competencies: Utilisation of the key competencies in the performance of this unit. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 83 FNARFS13A - ADMINISTER PORTFOLIOS EVIDENCE GUIDE Level of utilisation of key competencies (1 – perform; 2 – administer; 3 – design) Communicating ideas and information 2 Collecting, analysing and organising information Planning and organising activities Working with others in a team Using mathematical ideas and techniques Solving problems Using technology 2 1 1 2 2 1 Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 84 FNARFS14A - DELIVER A SERVICE TO CUSTOMERS FNARFS14A Deliver a service to customers Stream Retail Financial Services Functional Area Marketing and Customer Relations Sub Functional Area Marketing and Customer Relations National Code FNARFS14A Unit Description This unit describes those functions associated with the provision of a quality service to customers. Equivalence This unit is equivalent to ICTTC204A – Provide Quality Customer Service. ELEMENT 1. 2. 3. 4. Project a professional image Maintain customer confidentiality Respond to customer requests for information Deliver customer service PERFORMANCE CRITERIA a) Communication with customers is polite, courteous and helpful. b) Personal and office presentation is at all times consistent with the organisation’s standards. a) Customer related business is discussed only in the context of the work place. b) Customer information is not released to anyone who cannot provide appropriate identification. c) A range of communication and interpersonal skills are used to identify customers' needs, provide information and establish a relationship with the customer. d) Customers are informed about overall philosophy and direction of the organisation through access to annual reports, in house publications, and other advertising and information materials. e) Information if not immediately available is sourced and/or customer referred to others. a) Customer service is provided in accordance with organisation’s policies and procedures and in a timely manner. b) Service is adjusted to meet the special needs of customers. c) Complaints from customers are referred to appropriate personnel and in line with organisation’s policies and procedures. d) Customer service feedback is recorded and provided to appropriate personnel to assist in evaluating whether customer service needs have been met. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 85 FNARFS14A - DELIVER A SERVICE TO CUSTOMERS RANGE OF VARIABLES VARIABLE SCOPE Communication Communication includes face to face and telephone contact. Organisation’s standards Organisation’s standards in regard to personal and office presentation include: • personal grooming • clean and tidy uniforms or dress that is in accordance with organisation’s dress codes • clean and neat office space • ready access to stationery, forms, products and service information Confidentiality This includes any requirements under legislation such as Consumer Credit Code, Privacy Act as well as standards described by the organisation’s policies and procedures. Interpersonal skills Interpersonal skills may include: • establishing rapport • remembering customer details such as name and special interests • empathising with customers needs Overall philosophy and direction of the organisation Information on the overall philosophy and direction of the organisation may be obtained through access to annual reports, in house publications, and other advertising and information materials. Organisation’s policies and procedures Organisation’s policies and procedures may include policies and procedures in relation to customer service, Codes of Practice, clerical/administrative systems and complaint procedures. Special needs Special needs of customers include the needs of people from different cultural backgrounds and aged, those with a disability. Appropriate personnel May include supervisor, manager or dispute resolution officer. Customer service feedback Customer service feedback could include numerical, verbal or written information on customer satisfaction levels. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 86 FNARFS14A - DELIVER A SERVICE TO CUSTOMERS RANGE OF VARIABLES VARIABLE Relevant legislation SCOPE Relevant legislation may include: Consumer • Consumer Credit Code • Privacy Act • secrecy laws • Codes of Practice Competition • ACCC Prudential • FI Code • CRAA • EFT Code of Conduct • Financial Transaction Reports Act • Cheques and Payment Orders Act • Bills of Exchange Act EVIDENCE GUIDE Context for assessment: Assessment of performance requirements in the unit should be undertaken in an industry context. Aspects of competency, including attainment of relevant knowledge and skills may be assessed in a simulated work environment. Competency is demonstrated by performance of all stated criteria according to the Range of Variables applicable to the workplace. Specialised resources required for training and assessment include: • availability of qualified assessors • system which facilitates recording of trainees' profiles and progress • facilities for workplace or simulated environment assessment • sound communication skills in dealing with customers • general understanding and implementation of customer services standards • sound understanding of confidentiality requirements • ability to use relevant data entry and office equipment Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 87 FNARFS14A - DELIVER A SERVICE TO CUSTOMERS EVIDENCE GUIDE Interdependent assessment of units: This unit may be assessed independently. Workplace outcomes (Underpinning knowledge and skills): The Evidence Guide is a guideline which assists in the development of assessment instruments/tools to assess the competency of workers in the Retail Financial Services sector. This requires evidence of consistent achievement of the workplace outcomes covered by the unit. An employee working at this level should be able to demonstrate the following underpinning knowledge and skills. Underpinning knowledge includes: • introductory knowledge of – the finance industry – business communication – business law • knowledge of – customer relations – customer service – product knowledge – complaint documentation requirements Underpinning skills include: – communication skills – interpersonal / relationship building skills – sales techniques – time management skills – recording skills – problem solving skills – organisational skills Key competencies: Utilisation of the key competencies in the performance of this unit. Level of utilisation of key competencies (1 – perform; 2 – administer; 3 – design) Communicating ideas and information Collecting, analysing and organising information Planning and organising activities Working with others in a team Using mathematical ideas and techniques Solving problems 1 2 2 1 1 1 Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Using technology 1 Retail Financial Services Competency Standards for Review by 30/06/2003 88 FNBFS06A - RESOLVE CUSTOMER COMPLAINTS FNBFS06A Resolve customer complaints Stream Financial Services Functional Area Core National Code FNBFS06A Unit Description This unit describes those functions associated with the corrective action required in the resolution of customer complaints by self / others. This unit is adapted from and supersedes FNARFS15A - “Resolve Customer Complaints” from the Finance Training Package – Retail Financial Services. ELEMENT 1. 2. 3. 4. Identify customer complaint/dispute Record complaint/dispute Refer complaint/dispute Implement corrective action policy regarding customer complaints Implement corrective action policy regarding customer complaints (cont’d) PERFORMANCE CRITERIA a) Nature of complaint is established by questioning and confirming needs of customer. b) Rapport with customer is established by displaying empathy towards customer’s needs. a) Documentation to describe complaint accurately and in simple language. b) Any further documentation required to support complaint is prepared. c) Complaint is verified with customer to ensure it has been recorded accurately. a) Complaints that require referral to other personnel or external body are identified. b) All documentation and the investigation report are forwarded promptly. c) Follow-up with appropriate personnel to gain a prompt decision is undertaken a) Procedures to resolve customer complaints are authorised, actioned, or referred to appropriate personnel according to organisation’s policies and procedures. b) Customers’ special needs are satisfied in accordance with organisation’s policies and procedures. c) Operational information is provided to appropriate personnel in order to facilitate customer service planning. d) Service standards are monitored to ensure corrective action policy in regard to customer complaints is implemented. e) Current practices and policies regarding customer service issues that may affect the operation of the organisational unit are referred to management. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority is listening, recorded Retail Financial Services Competency Standards for Review by 30/06/2003 89 FNBFS06A - RESOLVE CUSTOMER COMPLAINTS ELEMENT 5. 6. Process complaint/dispute Follow up PERFORMANCE CRITERIA a) Complaint/dispute is processed in accordance with dispute resolution procedures established under company policy, legislation or codes of practice. b) Necessary reports relating to the complaint are obtained. c) Decision made takes into account applicable law, company policy, codes and any relevant considerations. d) A register of complaints / disputes is maintained. e) Customer is informed of outcome of investigation. a) Customer is informed of the outcome of the referral. b) Any further action is discussed with appropriate personnel and customer to ensure satisfaction. RANGE OF VARIABLES VARIABLE Nature of complaint/dispute SCOPE Nature of complaint/dispute may include: • service or product • people and/or service • error in written information such as brochures or quotations • errors generated by computing or other systems A complaint ranging from those can be handled quickly by desk staff through to other situations where customer is irate and the solution requires an employee with appropriate skills. Documentation Documentation may include: • complaint records • supporting statements • claims • policies • contracts • prospectus • terms and conditions Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 90 FNBFS06A - RESOLVE CUSTOMER COMPLAINTS RANGE OF VARIABLES VARIABLE Appropriate / other personnel SCOPE Appropriate / other personnel may include: • supervisors • managers • Organisation’s policies and procedures dispute resolution officer Organisation’s policies and procedures may include adoption of: • legislative • Code of Conduct and/or other relevant customer service standards. Relevant legislation Relevant legislation may include: Consumer • Consumer Credit Code • Privacy Act • National Health Act • Private Health Insurance Act • Codes of Practice Competition • ACCC Guidelines • Trade Practices Act Relevant legislation (cont’d) Prudential • FI Code • CRAA • EFT Code of Conduct • Financial Transaction Reports Act • Bills of exchange Act • Cheques and Payment Orders Act Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 91 FNBFS06A - RESOLVE CUSTOMER COMPLAINTS EVIDENCE GUIDE Context for assessment: Assessment of performance requirements in the unit should be undertaken in an industry context. Aspects of competency, including attainment of relevant knowledge and skills may be assessed in a simulated work environment. Competency is demonstrated by performance of all stated criteria, including the Range of Variables applicable to the workplace. Specialised resources required for training and assessment include: • availability of qualified assessors • system which facilitates recording of trainees’ profiles and progress • facilities for workplace or simulated environment assessment Critical aspects of evidence will include: • thorough checking of complaint details • sound knowledge of relevant legislation and codes of conduct • strong communication skills in dealing with customers • understanding of dispute resolution procedures • ability to use relevant data entry and other office equipment Interdependent assessment of units: This unit should be assessed after competency has been demonstrated in the following units: FNBFS01A – Work Within a Financial Services Context FNBFS02A – Communicate in the Workplace FNBFS03A – Work as Part of a Team FNBFS04A – Use Technology in the Workplace FNBFS05A – Apply Health and Safety Practices in the Workplace Workplace outcomes (Underpinning knowledge and skills): The Evidence Guide is a guideline which assists in the development of assessment instruments/tools to assess the competency of workers in the Financial Services industry. This requires evidence of consistent achievement of the workplace outcomes covered by the unit. An employee working at this level should be able to demonstrate the following underpinning knowledge and skills. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 92 FNBFS06A - RESOLVE CUSTOMER COMPLAINTS EVIDENCE GUIDE Underpinning knowledge includes: • knowledge of policies and procedures in regard to customer service, staff supervision and organisation / branch appraisal system • knowledge of policies and procedures in regard to customer complaints about individual staff or products • knowledge of appropriate lines of communication to staff and management • knowledge of interpersonal communication techniques • knowledge of organisation Quality Assurance procedures in relation to grievances and corrective action • knowledge of disciplinary and grievance procedures • knowledge of available products and services • knowledge of • information technology • customer service • customer relations • working environment • introductory knowledge of • the Financial Services industry • business communication • business law Underpinning skills include: • keyboard skills • interpersonal skills • problem solving skills • listening skills • ability to prioritise tasks • verbal and written communication skills • referral skills Key competencies: Utilisation of the key competencies in the performance of this unit Level of utilisation of key competencies (1 – perform; 2 – administer; 3 – design) Communicat ing ideas and Collecting, analysing and Planning and organising Working with others in a team Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Using mathematica l ideas and Solving problems Using technology Retail Financial Services Competency Standards for Review by 30/06/2003 93 FNBFS06A - RESOLVE CUSTOMER COMPLAINTS EVIDENCE GUIDE information organising information activities 2 2 1 techniques 2 Financial Services Training Package FNB99:Version 4 © Australian National Training Authority 1 2 1 Retail Financial Services Competency Standards for Review by 30/06/2003 94 FNARFS16A - SELL/CROSS-SELL PRODUCTS AND SERVICES FNARFS16A Sell/cross-sell products and services Stream Retail Financial Services Functional Area Marketing and Customer Relations Sub Functional Area Marketing and Customer Relations National Code FNARFS16A Unit Description This unit encompasses the competencies required to sell or cross-sell products and services. ELEMENT 1. 2. 3. Identify information needs of customer Promote sales of products and services Refer sales / service to appropriate area PERFORMANCE CRITERIA a) A range of communication and interpersonal skills are used to identify customers' needs, provide information and establish a relationship with the customer. b) Opportunities to provide customers with information about the range of products and services available are identified. c) Information, if not immediately available, is sourced and/or customer referred to others. a) An awareness of the relationship between selling/crossselling products and the organisation’s vision and goals is demonstrated. b) Knowledge of benefits and features of products / services is provided to customers. c) Product knowledge is used to match products / services to customer needs. d) Customer signals for services are recognised. e) Options based on assessment of customers needs are offered. a) Documentation relating to service is prepared for processing. b) Customer is informed of the action/referral to be taken, the reasons this needs to occur and the documentation needed. selling/cross-selling products/ RANGE OF VARIABLES VARIABLE Communication skills SCOPE Communication skills include listening and questioning techniques. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 95 FNARFS16A - SELL/CROSS-SELL PRODUCTS AND SERVICES RANGE OF VARIABLES VARIABLE Interpersonal skills SCOPE Interpersonal skills may include: • establishing rapport • remembering customer details such as name and special interests • empathising with customers needs Customer needs Customer needs includes the special needs of people from different cultural backgrounds, aged and those with a disability. Products and services Products and services includes those products and services provided by the organisation such as savings, investment, loans, travel, superannuation, insurance and other services. Organisation’s vision and goals Organisation’s vision and goals refers to the relationship between the selling and cross-selling of products and services and the extent to which these accord with the vision and goals of the organisation. Efforts to sell/cross-sell products furthers short and long-term goals of the organisation. Product knowledge Product knowledge includes a knowledge of the range of products as well as the features of each, such as interest rates, term, special packages. Documentation Documentation may include application forms for opening of accounts for products and services. Relevant legislation Relevant legislation may include: Consumer • Consumer Credit Code • Privacy Act • secrecy laws • Codes of Practice Competition • ACCC Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 96 FNARFS16A - SELL/CROSS-SELL PRODUCTS AND SERVICES RANGE OF VARIABLES VARIABLE Relevant legislation (cont’d) SCOPE Prudential • FI Code • CRAA • EFT Code of Conduct • Financial Transaction Reports Act • Cheques and Payment Orders Act • Bills of Exchange Act EVIDENCE GUIDE Context for assessment: Assessment of performance requirements in the unit should be undertaken in an industry context. Aspects of competency, including attainment of relevant knowledge and skills may be assessed in a simulated work environment. Competency is demonstrated by performance of all stated criteria according to the Range of Variables applicable to the workplace. Specialised resources required for training and assessment include: • availability of qualified assessors • system which facilitates recording of trainees’ profiles and progress • facilities for workplace or simulated environment assessment Critical aspects of evidence will include: • sound knowledge of relevant legislation • sound knowledge of organisation’s vision and goals • sound knowledge of available products and services • understanding of current sales tools and techniques • sound communication skills in dealing with customers • ability to use relevant office equipment • ability to complete appropriate documentation Interdependent assessment of units: This unit should be assessed in conjunction with unit: FNARFS14A - Deliver a Service to Customers Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 97 FNARFS16A - SELL/CROSS-SELL PRODUCTS AND SERVICES EVIDENCE GUIDE Workplace outcomes (Underpinning knowledge and skills): The Evidence Guide is a guideline which assists in the development of assessment instruments/tools to assess the competency of workers in the Retail Financial Services sector. This requires evidence of consistent achievement of the workplace outcomes covered by the unit. An employee working at this level should be able to demonstrate the following underpinning knowledge and skills. Underpinning knowledge includes: • product and service knowledge • introductory knowledge of – the finance industry – business communication – business law • knowledge of – customer relations – customer service – company’s manner of dealing with complaints • knowledge of relevant legislation and potential / actual impact on information requested or provided • sales techniques • knowledge of organisation’s policies and procedures in regard to customer service and sales Underpinning skills include: • communication skills • interpersonal / relationship building skills • negotiation skills • referral skills • recording skills • problem solving skills • selling skills (including listening, questioning, matching needs, confirming sale) EVIDENCE GUIDE Key competencies: Utilisation of the key competencies in the performance of this unit. Level of utilisation of key competencies (1 – perform; 2 – administer; 3 – design) Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 98 FNARFS16A - SELL/CROSS-SELL PRODUCTS AND SERVICES EVIDENCE GUIDE Communicating ideas and information Collecting, analysing and organising information Planning and organising activities Working with others in a team Using mathematical ideas and techniques Solving problems Using technology 2 1 1 1 1 2 1 Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 99 FNARFS17A - CO-ORDINATE SALES / SERVICE PERFORMANCE FNARFS17A Co-ordinate sales / service performance Stream Retail Financial Services Functional Area Marketing and Customer Relations Sub Functional Area Marketing and Customer Relations National Code FNARFS17A Unit Description This unit describes those functions associated with coordinating the implementation and monitoring of performance against organisation’s sales targets and quality customer service standards. ELEMENT 1. 2. 3. Implement sales policies and procedures Implement customer service standards Monitor achievement of sales targets PERFORMANCE CRITERIA a) Organisation’s policies and procedures in regard to selling are implemented and monitored. b) Organisation’s policies and procedures are implemented and monitored in regard to transactions including noncash transactions and variations to standard transactions. c) Team is monitored to ensure information is entered into work station equipment accurately. d) Team is monitored to ensure that products and services are matched to customer needs. a) Customer service standards are measured according to organisation’s policies and procedures. b) Deficiencies in service are identified and appropriate corrective action is taken in accordance with organisation’s policies and procedures. c) Feedback to team members is provided in relation to customer service provision in accordance with organisation’s policies and procedures. d) Feedback on quality of service is provided to team members and management on a regular basis. a) Sales results are recorded to assist with monitoring achievement of sales targets. b) Individual and branch sales targets are monitored and recorded according to organisation’s policies and procedures. c) Feedback is provided to management and staff on sales performance in relation to sales targets and planning. RANGE OF VARIABLES VARIABLE SCOPE Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 100 FNARFS17A - CO-ORDINATE SALES / SERVICE PERFORMANCE RANGE OF VARIABLES VARIABLE SCOPE Organisation’s policies and procedures Organisation’s policies and procedures may include marketing strategy, marketing plans, customer service strategy and quality standards for sales and service performance. Selling Selling may include face to face or telephone sales techniques. Non-cash transactions Non-cash documents or transactions may include: • credit cards • cheques • EFTPOS Customer service standards Customer service standards individual organisations. may be specific to Sales targets Sales targets may vary according to experience and training of staff and branch / department targets and size, type and location of branch. Relevant legislation Relevant legislation may include: Consumer • Consumer Credit Code • Privacy Act • secrecy laws • Codes of Practice Competition • ACCC Prudential • FI Code • CRAA • EFT Code of Conduct • Financial Transaction Reports Act • Cheques and Payment Orders Act • Bills of Exchange Act EVIDENCE GUIDE Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 101 FNARFS17A - CO-ORDINATE SALES / SERVICE PERFORMANCE EVIDENCE GUIDE Context for assessment: Assessment of performance requirements in the unit should be undertaken in an industry context. Aspects of competency, including attainment of relevant knowledge and skills may be assessed in a simulated work environment. Competency is demonstrated by performance of all stated criteria according to the Range of Variables applicable to the workplace. Specialised resources required for training and assessment include: • availability of qualified assessors • system which facilitates recording of trainees’ profiles and progress • facilities for workplace or simulated environment assessment Critical aspects of evidence will include: • detailed knowledge of relevant legislation • detailed knowledge of own organisation’s and competitor’s available products and services • comprehensive knowledge of organisation’s strategic direction, marketing strategy and operational policies and procedures • sound knowledge of current sales tools and techniques and market trends • strong communication and negotiation skills in dealing with team, staff and management • ability to use relevant data entry and office equipment Interdependent assessment of units: Competency in these units should be demonstrated either prior to or in conjunction with assessment of the current unit. FNBFS01A – Work Within a Financial Services Context FNBFS02A – Communicate in the Workplace FNBFS03A – Work as Part of a Team FNBFS04A – Use Technology in the Workplace FNBFS05A – Apply Health and Safety Practices in the Workplace FNBFS06A – Resolve Customer Complaints and units: FNARFS14A - Deliver a Service to Customers FNARFS15A - Resolve Customer Complaints FNARFS16A - Sell/Cross-Sell Products and Services Workplace outcomes (Underpinning knowledge and skills): The Evidence Guide is a guideline which assists in the development of assessment instruments/tools to assess the competency of workers in the Retail Financial Services sector. This requires evidence of consistent achievement of the workplace outcomes covered by the unit. An employee working at this level should be able to demonstrate the following underpinning knowledge and skills. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 102 FNARFS17A - CO-ORDINATE SALES / SERVICE PERFORMANCE EVIDENCE GUIDE Underpinning knowledge includes: • knowledge of policies and procedures in regard to selling products and services • knowledge of relevant legislation and statutory requirements including relevant consumer law • knowledge of Industry Codes of Practice include: – Consumer Credit Code – Privacy Act – Credit Union Code of Practice – Financial Institutions Code • product knowledge, including, product/account and service range, branch / department sales targets, factors that enhance sales performance, importance of sales to performance • introductory knowledge of – the finance industry – business communication – business law • knowledge of – customer relations – customer service – sales techniques Underpinning skills include: • group presentation skills • team development and motivation skills • negotiation and conflict resolution skills • problem solving skills • selling skills (including listening, questioning, matching needs, confirming sale) • leadership skills Key competencies: Utilisation of the key competencies in the performance of this unit. Level of utilisation of key competencies (1 – perform; 2 – administer; 3 – design) Communicating ideas and information Collecting, analysing and organising information Planning and organising activities Working with others in a team Using mathematical ideas and techniques Solving problems 2 2 2 2 1 2 Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Using technology 1 Retail Financial Services Competency Standards for Review by 30/06/2003 103 FNARFS18A - IMPLEMENT SALES AND MARKETING PLANS FNARFS18A Implement sales and marketing plans Stream Retail Financial Services Functional Area Marketing and Customer Relations Sub Functional Area Marketing and Customer Relations National Code FNARFS18A Unit Description This unit describes those functions associated with the implementation and monitoring of the organisation’s sales and marketing plans. ELEMENT 1. 2. Assist in developing marketing strategy Implement sales and marketing plans PERFORMANCE CRITERIA a) The needs of the existing customer/client base and the nature of further business opportunities are identified to assist in establishing marketing objectives, target markets and the planned sphere of operation and influence of the organisation. b) The relative strengths of competitors’ operations and marketing approaches are assessed and opportunities for competitive advantage identified. c) Input to marketing strategies and sales and marketing plans is obtained from key stakeholders. d) Alternative options for promotion of the organisation's services is suggested. a) The organisation's marketing strategy and each employee's role and responsibility within it, are communicated to relevant staff/team members. b) Specific sales and marketing plans are implemented in accordance with the organisation's overall marketing strategy and business plan. c) Customers are informed of value-added services provided by the organisation. d) Production and distribution of relevant marketing materials is in accordance with the organisation's marketing strategy. e) Networks are accessed to promote the organisation's services. f) Staff is trained (where required) to participate effectively in the implementation of aspects of the organisation's marketing strategy and sales and marketing plans. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 104 FNARFS18A - IMPLEMENT SALES AND MARKETING PLANS ELEMENT 3. Monitor sales and marketing plans PERFORMANCE CRITERIA a) Sales and marketing plans are monitored to assist in assessing the extent to which the organisation is achieving its marketing strategy. b) Records of sales and marketing outcomes and performance enable comparisons with planned marketing objectives. c) Reports on progress against sales and marketing plans are prepared and distributed to appropriate personnel. RANGE OF VARIABLES VARIABLE Target markets SCOPE Targets include those established in relation to a product or service and which are measurable in nature. The target marketplace includes the individuals, communities, businesses or industry sectors to which products and services are geared. The marketplace influences the way products and/or services are identified, designed and marketed and influences the way in which products and or services are provided, whether through branches, electronically or other means. Marketing strategy The marketing strategy should be linked to the organisation’s corporate/business plan. The strategy includes a method for the delivery of products and services together with implications for the implementation, review and assessment of the strategy. The context for the strategy may vary according to the size, location, and demographics of the organisation. Sales and marketing plan Sales and marketing plan may include plans which are specific to organisational units but consistent with the overall marketing strategy. Key stakeholders Stakeholders could include management, colleagues/peers, marketing professionals, valued customers/clients. Business plans Business plans includes plans developed which describe the direction for the business in terms of vision, mission, objectives and measurable targets, together with implications for the use of physical resources such as buildings, technologies currently in use or planned, business processes and the competencies and skills of employees. Appropriate personnel Appropriate personnel could include marketing professionals and peers. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority management, Retail Financial Services Competency Standards for Review by 30/06/2003 105 FNARFS18A - IMPLEMENT SALES AND MARKETING PLANS RANGE OF VARIABLES VARIABLE Relevant legislation SCOPE Relevant legislation may include: Consumer • Consumer Credit Code • Privacy Act • secrecy laws • Codes of Practice Competition • Practices Act Prudential • FI Code • CRAA • EFT Code of Conduct • Cheques and Payment Orders Act • Bills of Exchange Act EVIDENCE GUIDE Context for assessment: Assessment of performance requirements in the unit should be undertaken in an industry context. Aspects of competency, including attainment of relevant knowledge and skills, may be assessed through practical demonstration in the workplace or in an industry approved simulated work environment. Specialised resources required for training and assessment include: • availability of qualified assessors • system which facilitates recording of trainees’ profiles and progress • facilities for workplace or simulated environment assessment Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 106 FNARFS18A - IMPLEMENT SALES AND MARKETING PLANS EVIDENCE GUIDE Critical aspects of evidence will include: • detailed knowledge of relevant legislation • comprehensive knowledge of organisation’s strategic direction, marketing strategy and the industry’s market environment • general understanding of marketing principles and target markets • sound knowledge of current sales tools and techniques • strong communication skills • ability to use relevant data entry and office equipment Interdependent assessment of units: This unit should be assessed after competency has been demonstrated in units: FNARFS14A - Deliver a Service to Customers FNARFS15A - Resolve Customer Complaints FNARFS16A - Sell/Cross-Sell Products and Services FNARFS17A - Co-ordinate Sales/Service Performance Workplace outcomes (Underpinning knowledge and skills): The Evidence Guide is a guideline which assists in the development of assessment instruments/tools to assess the competency of workers in the Retail Financial Services sector. This requires evidence of consistent achievement of the workplace outcomes covered by the unit. An employee working at this level should be able to demonstrate the following underpinning knowledge and skills. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 107 FNARFS18A - IMPLEMENT SALES AND MARKETING PLANS EVIDENCE GUIDE Underpinning knowledge includes: • knowledge of competitors’ strengths and weaknesses • knowledge of quality assurance procedures • knowledge of market conditions and forces • knowledge of training methods and policies • knowledge of relevant statutes • knowledge of market, business and product assessment techniques such as SWOT, Risk Analysis • knowledge of sales techniques • knowledge of professional ethics for valuers • knowledge of marketing principles and practice • knowledge of business planning processes • knowledge of customer relations policies • knowledge of fee structures • knowledge of procedures for using office equipment and technology • introductory knowledge of: – the finance industry – business communication – business law • knowledge of – customer relations – customer service – the working environment Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 108 FNARFS18A - IMPLEMENT SALES AND MARKETING PLANS EVIDENCE GUIDE Underpinning skills include: • planning and organising skills • selling skills • team skills including participation, leadership • problem solving skills • skills in identifying and evaluating business opportunities • skills in production of marketing material • communication skills, including written, oral, interpersonal and verbal • coaching, guiding, on-the-job training skills • records management skills • skills in evaluating effectiveness of marketing plans Key competencies: Utilisation of the key competencies in the performance of this unit. Level of utilisation of key competencies (1 – perform; 2 – administer; 3 – design) Communicating ideas and information Collecting, analysing and organising information Planning and organising activities Working with others in a team Using mathematical ideas and techniques Solving problems 3 2 2 1 2 2 Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Using technology 1 Retail Financial Services Competency Standards for Review by 30/06/2003 109 FNARFS19A - PREPARE STATISTICAL AND AD HOC REPORTS FNARFS19A Prepare statistical and ad hoc reports Stream Retail Financial Services Functional Area Maintain Financial Operations Sub Functional Area Prepare Financial Reports National Code FNARFS19A Unit Description This unit describes those functions associated with the preparation of reports for audit committee and ad-hoc reports for industry comparisons/surveys, capital adequacy and liquidity ratios. ELEMENT 1. 2. 3. 4. Determine report required Collect relevant information Analyse report and recommend changes Produce reports and make recommendations PERFORMANCE CRITERIA a) Liaison with appropriate personnel is undertaken to establish type and scope of report required. b) All sources of data for the report are identified. c) Key financial indicators are developed. a) All relevant data from identified sources is collected. b) Accuracy of data is verified. c) Existing reports are used as a guideline for content and format where available. a) Data in relation to key indicators is analysed and established in type/scope of report. b) Implications of data are assessed in relation to capital adequacy, liquidity ratios and other data relevant to the type and scope of the report. c) Data provided is verified to ensure it satisfies obligations in regard to: – organisation’s policies and procedures – compliance and regulatory requirements a) Reports are prepared in a user friendly format ensuring readability and ease of interpretation. b) Recommendations are developed on the basis of information required by audit committee to accurately monitor financial operations. RANGE OF VARIABLES VARIABLE Appropriate personnel SCOPE Appropriate personnel may include product managers and business unit managers. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 110 FNARFS19A - PREPARE STATISTICAL AND AD HOC REPORTS RANGE OF VARIABLES VARIABLE SCOPE Reports The reports may include those that incorporate statistical, financial data and other information used for the purposes of interpretation of the financial operations of the organisation, and required to fulfil compliance and organisational obligations. These include documentation required for the purposes of internal/external quality assurance, compliance, auditing or business purposes. Organisation’s policies and procedures Organisation’s policies and procedures may include specific policies and procedures on the format of returns and reports and requirements for reporting. Compliance and regulatory requirements Compliance and regulatory requirements may identify the need for cross checking returns against detailed statutory requirements and internal accounting records. Relevant legislation Relevant legislation may include: Consumer • Consumer Credit Code • Privacy Act • secrecy laws • Codes of Practice Competition • ACCC Prudential • FI Code • CRAA • EFT Code of Conduct • Financial Transaction Reports Act • Cheques and Payment Orders Act • Corporate law • Commercial Tenancies Act • Land Tax Assessment Act Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 111 FNARFS19A - PREPARE STATISTICAL AND AD HOC REPORTS RANGE OF VARIABLES VARIABLE Relevant legislation (cont’d) SCOPE • Prescribed Payments Act • Payroll Tax Assessment Act • Stamp Duties Act • Taxation Assessment Act • Credit Union Code of Conduct • Bills of Exchange Act EVIDENCE GUIDE Context for assessment: Assessment of performance requirements in the unit should be undertaken in an industry context. Aspects of competency, including attainment of relevant knowledge and skills, may be assessed through practical demonstration in the workplace or in an industry approved simulated work environment. Competency is demonstrated by performance of all stated criteria according to the Range of Variables applicable to the workplace. Specialised resources required for training and assessment include: • availability of qualified assessors • system which facilitates recording of trainees' profiles and progress • facilities for workplace or simulated environment assessment Critical aspects of evidence will include: • sound knowledge of relevant legislation • general understanding of audit processes, and compliance and regulatory requirements • sound communication and report writing skills • ability to use relevant data entry and office equipment Interdependent assessment of units: This unit may be assessed independently. Workplace outcomes (Underpinning knowledge and skills): The Evidence Guide is a guideline which assists in the development of assessment instruments/tools to assess the competency of workers in the Retail Financial Services sector. This requires evidence of consistent achievement of the workplace outcomes covered by the unit. An employee working at this level should be able to demonstrate the following underpinning knowledge and skills. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 112 FNARFS19A - PREPARE STATISTICAL AND AD HOC REPORTS EVIDENCE GUIDE Underpinning knowledge includes: • a complete understanding of user requirements • knowledge of key result areas for evaluation of financial performance • knowledge of risk management strategies including professional indemnity requirements • knowledge of statistical and trend analysis • knowledge of audit processes • systems knowledge and familiarity • knowledge of financial accounting principles and procedures • introductory knowledge of – the finance industry – business communication – business law – business accounting • knowledge of – working environment – information technology Underpinning skills include: • planning and controlling skills • organising skills • risk management skills • use of initiative in designing relevant reports • researching, observing and analysing skills • skills in identifying and evaluating business opportunities • written and verbal communication skills • reporting skills EVIDENCE GUIDE Key competencies: Utilisation of the key competencies in the performance of this unit. Level of utilisation of key competencies (1 – perform; 2 – administer; 3 – design) Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 113 FNARFS19A - PREPARE STATISTICAL AND AD HOC REPORTS EVIDENCE GUIDE Communicating ideas and information Collecting, analysing and organising information Planning and organising activities Working with others in a team Using mathematical ideas and techniques Solving problems 2 2 1 1 2 2 Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Using technology 1 Retail Financial Services Competency Standards for Review by 30/06/2003 114 FNARFS20A - PREPARE GOVERNMENT RETURNS FNARFS20A Prepare government returns Stream Retail Financial Services Functional Area Maintain Financial Operations Sub Functional Area Prepare Financial Reports National Code FNARFS20A Unit Description This unit describes those functions associated with the preparation of government returns such as FID, W / Tax, BADT, FBT and other relevant returns or reports required by government bodies. ELEMENT 1. 2. 3. 4. Identify requirements for returns Plan for provision of returns Calculate liability in accordance with government guidelines Prepare return document PERFORMANCE CRITERIA a) Liaison with appropriate personnel is undertaken to establish type and scope of government return required, and statutory requirements of relevant legislation. b) All sources of data for return or report are identified. c) Timing requirements for returns and reports are identified. a) Timelines and procedures are established in order to meet reporting deadlines. b) Lead times are set that ensure adequate time is available and allowance is made for contingencies. c) Liaison occurs with appropriate personnel to obtain relevant data and information. a) Data in relation to liability is reviewed and analysed. b) Spreadsheet is prepared as applicable. c) Data provided is verified to ensure it satisfies obligations in regard to: – organisation’s policies and procedures – compliance and regulatory requirements a) Pro-forma supplied by government departments is completed in an accurate, timely and thorough manner. b) Documents or reports are forwarded to appropriate personnel for clearance, in a timely manner. RANGE OF VARIABLES VARIABLE Appropriate personnel SCOPE Appropriate personnel may include accounting and investment personnel, product and business unit managers and other organisational staff. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 115 FNARFS20A - PREPARE GOVERNMENT RETURNS RANGE OF VARIABLES VARIABLE SCOPE Government returns Government returns include documentation required by government in relation to a range of government charges and taxes. May also include returns or reports required by the Australian Bureau of Statistics and Prudential Supervisors (FINCOM, The Reserve Bank). Organisation’s policies and procedures Organisation’s policies and procedures may include specific policies and procedures on the format of returns and reports and requirements for reporting. Compliance and regulatory requirements Compliance and regulatory requirements may identify the need for cross checking returns against detailed statutory requirements and internal accounting records. Relevant legislation Relevant legislation may include: Consumer • Consumer Credit Code • Privacy Act • secrecy laws • Codes of Practice Competition • ACCC Prudential • FI Code • CRAA • EFT Code of Conduct • Financial Transaction Reports Act • Cheques and Payment Orders Act • Corporate Law • Commercial Tenancies Act • Land Tax Assessment Act Relevant legislation (cont’d) • Stamp Duties Act • Prescribed Payments Act • Payroll Tax Assessment Act • Taxation Assessment Act • Bills of Exchange Act Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 116 FNARFS20A - PREPARE GOVERNMENT RETURNS EVIDENCE GUIDE Context for assessment: Assessment of performance requirements in the unit should be undertaken in an industry context. Aspects of competency, including attainment of relevant knowledge and skills, may be assessed through practical demonstration in the workplace or in an industry approved simulated work environment. Specialised resources required for training and assessment include: • availability of qualified assessors • system which facilitates recording of trainees’ profiles and progress • facilities for workplace or simulated environment assessment Critical aspects of evidence will include: • thorough checking of relevant data • detailed knowledge of relevant legislation • general understanding of compliance and regulatory requirements, and government requirements • sound communication and report writing skills • ability to use relevant data entry and office equipment Interdependent assessment of units: Competency in these units should be demonstrated either prior to or in conjunction with assessment of the current unit. FNBFS01A – Work Within a Financial Services Context FNBFS02A – Communicate in the Workplace FNBFS03A – Work as Part of a Team FNBFS04A – Use Technology in the Workplace FNBFS05A – Apply Health and Safety Practices in the Workplace FNBFS06A – Resolve Customer Complaints and unit: FNARFS19A - Prepare Statistical and Ad Hoc Reports Workplace outcomes (Underpinning knowledge and skills): The Evidence Guide is a guideline which assists in the development of assessment instruments/tools to assess the competency of workers in the Retail Financial Services sector. This requires evidence of consistent achievement of the workplace outcomes covered by the unit. An employee working at this level should be able to demonstrate the following underpinning knowledge and skills. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 117 FNARFS20A - PREPARE GOVERNMENT RETURNS EVIDENCE GUIDE Underpinning knowledge includes: • a complete understanding of user requirements • knowledge of key result areas for evaluation of financial performance • knowledge of chart of accounts • knowledge of financial accounting principles and practices • introductory knowledge of – the finance industry – accounting principles – business communication – business law – business accounting • knowledge of working environment and information technology Underpinning skills include: • use of initiative in designing relevant reports • planning and controlling skills • written and verbal communication skills • reporting skills • researching, observing and analysing skills • skills in identifying and evaluating business opportunities • numeracy skills EVIDENCE GUIDE Key competencies: Utilisation of the key competencies in the performance of this unit. Level of utilisation of key competencies (1 – perform; 2 – administer; 3 – design) Communicating ideas and information Collecting, analysing and organising information Planning and organising activities Working with others in a team Using mathematical ideas and techniques Solving problems 2 2 2 2 2 2 Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Using technology 2 Retail Financial Services Competency Standards for Review by 30/06/2003 118 FNARFS21A - PRODUCE FINANCIAL STATEMENTS FNARFS21A Produce financial statements Stream Retail Financial Services Functional Area Maintain Financial Operations Sub Functional Area Prepare Financial Reports National Code FNARFS21A Unit Description This unit describes those functions associated with the preparation of annual financial statements / budgets and half yearly re-forecasts. ELEMENT 1. 2. 3. 4. 5. Gather relevant information for financial statements Calculate interest margin forecast for the period Calculate operating expenditure Collate all financial information and produce complete picture for the period Prepare budget report and distribute PERFORMANCE CRITERIA a) Input and direction from operational managers is sought. b) Specialist input is sought from appropriate personnel for specific expenditure items. c) Historical financial information is collected. d) Economic forecasts are researched. e) Factors that influence each income/expense item are determined. a) Various "what if" reports are prepared using forecasting software. b) Results of “what if” reports are analysed and reviewed. c) Most likely forecast(s) are selected. a) Spreadsheets to calculate expenditure in accordance with data collected are prepared. b) Results are analysed and reviewed. c) Liaison occurs with recommended change. a) Spreadsheets are produced. b) Non-interest income is calculated showing liquidity/capital adequacy in results. c) Appropriate personnel are consulted about final result in an endeavour to achieve consensus. d) Results are analysed, reviewed and altered as necessary. a) Data is reviewed thoroughly and report prepared for approval by the Board and distribution to appropriate personnel. b) Budget information is input onto accounting software. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority appropriate personnel on Retail Financial Services Competency Standards for Review by 30/06/2003 119 FNARFS21A - PRODUCE FINANCIAL STATEMENTS RANGE OF VARIABLES VARIABLE SCOPE Financial statements Financial statements include annual budgets, half yearly re-forecasts, profit and loss statements, balance sheets and other financial management reports. Appropriate personnel Appropriate personnel could include product and business unit managers, other managers and organisational staff, accounting staff. “What if” reports “What if” reports may include allowing for: • movement in interest rates • introduction of new products • any other economic variables Spreadsheets Spreadsheets may include: • budgeted profit and loss • budgeted balance sheet • cashflow • loan funding and portfolio growth • saving and investment growth Relevant legislation Relevant legislation may include: Consumer • Consumer Credit Code • Privacy Act • secrecy laws • Codes of Practice Competition • ACCC Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 120 FNARFS21A - PRODUCE FINANCIAL STATEMENTS RANGE OF VARIABLES VARIABLE Relevant legislation (cont’d) SCOPE Prudential • FI Code • CRAA • EFT Code of Conduct • Financial Transaction reports Act • Cheques and Payment Orders Act • Corporate Law • Commercial Tenancies Act • Land Tax Assessment Act • Prescribed Payments Act • Payroll Tax Assessment Act • Stamp Duties Act • Taxation Assessment Act • Bills of Exchange Act EVIDENCE GUIDE Context for assessment: Assessment of performance requirements in the unit should be undertaken in an industry context. Aspects of competency, including attainment of relevant knowledge and skills, may be assessed through practical demonstration in the workplace or in an industry approved simulated work environment. Specialised resources required for training and assessment include: • availability of qualified assessors • system which facilitates recording of trainees’ profiles and progress • facilities for workplace or simulated environment assessment Critical aspects of evidence will include: • thorough checking of relevant data • detailed knowledge of relevant legislation • general understanding of financial accounting and related software • strong communication, research and report writing skills • ability to use relevant data entry and office equipment Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 121 FNARFS21A - PRODUCE FINANCIAL STATEMENTS EVIDENCE GUIDE Interdependent assessment of units: This unit should be assessed after competency has been demonstrated in units: FNARFS19A - Prepare Statistical and Ad Hoc Reports FNARFS20A - Prepare Government Returns Workplace outcomes (Underpinning knowledge and skills): The Evidence Guide is a guideline which assists in the development of assessment instruments/tools to assess the competency of workers in the Retail Financial Services sector. This requires evidence of consistent achievement of the workplace outcomes covered by the unit. An employee working at this level should be able to demonstrate the following underpinning knowledge and skills. Underpinning knowledge includes: • knowledge of budget and half yearly budget reports • knowledge of key result areas for evaluation of financial performance • knowledge of risk management strategies including professional indemnity • requirements • detailed knowledge of products • knowledge of chart of accounts, financial accounting and financial statements • knowledge of seasonal variations • knowledge of business plan • knowledge of information systems including spreadsheets • introductory knowledge of – the finance industry – accounting principles and practices – business law – business communication – business accounting • knowledge of – working environment – information technology Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 122 FNARFS21A - PRODUCE FINANCIAL STATEMENTS EVIDENCE GUIDE Underpinning skills include: • planning and controlling skills • organising skills • risk management skills • budgeting skills • researching, observing and analysing skills • skills in identifying and evaluating business opportunities • written and verbal communication skills • reporting skills Key competencies: Utilisation of the key competencies in the performance of this unit. Level of utilisation of key competencies (1 – perform; 2 – administer; 3 – design) Communicating ideas and information Collecting, analysing and organising information Planning and organising activities Working with others in a team Using mathematical ideas and techniques Solving problems 3 3 2 2 3 3 Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Using technology 3 Retail Financial Services Competency Standards for Review by 30/06/2003 123 FNARFS22A - DEVELOP FINANCIAL MODEL / PRODUCT FNARFS22A Develop financial model / product Stream Retail Financial Services Functional Area Maintain Financial Operations Sub Functional Area Prepare Financial Reports National Code FNARFS22A Unit Description This unit describes those functions associated with the development of financial models to support product development. ELEMENT 1. 2. 3. Identify requirements for model / product Prepare and test scenarios Follow up on model / product PERFORMANCE CRITERIA a) Product and key financial requirements are established through communication with appropriate personnel. b) Information required to develop a financial model is analysed and assessed. c) Information is reviewed comprehensiveness. a) Scenarios are prepared using appropriate forecasting software. b) Scenarios are used to generate key financial indicators for proposed products, and effect on annual results is calculated. c) Models and scenarios are checked for accuracy. d) Liaison with appropriate personnel is undertaken to ensure that scenarios include relevant data. e) Scenarios are repeated as required. f) Scenarios and calculations are reviewed and reports are prepared for appropriate personnel in relation to scenarios. a) Actual results of model/product are monitored over time and results are analysed taking into account current/potential changed circumstances. b) New scenarios are developed based on current potential changes in conditions and information available. c) Results of analysis are used to refine model/product. for accuracy and RANGE OF VARIABLES VARIABLE Product SCOPE Product includes any financial product/service currently offered or being considered by the organisation. This Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 124 FNARFS22A - DEVELOP FINANCIAL MODEL / PRODUCT RANGE OF VARIABLES VARIABLE SCOPE may include loans, savings and investment products or other financial products. Appropriate personnel Appropriate personnel could include product and business unit managers, other managers and organisational staff, accounting staff. Scenario Scenario includes models used to develop forecasting based on the input of variations to key financial variables, such as liquidity, cash flow and other data related to profitability of the proposed product. Relevant legislation Relevant legislation may include: Consumer • Consumer Credit Code • Privacy Act • secrecy laws • Codes of Practice Competition • ACCC Prudential • FI Code • CRAA • EFT Code of Conduct • Financial Transaction Reports Act • Cheques and Payment Orders Act • Corporate Law • Commercial Tenancies Act • Land Tax Assessment Act • Prescribed Payments Act Relevant legislation (cont’d) • Payroll Tax Assessment Act • Stamp Duties Act • Taxation Assessment Act • Bills of Exchange Act Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 125 FNARFS22A - DEVELOP FINANCIAL MODEL / PRODUCT EVIDENCE GUIDE Context for assessment: Assessment of performance requirements in the unit should be undertaken in an industry context. Aspects of competency, including attainment of relevant knowledge and skills, may be assessed through practical demonstration in the workplace or in an industry approved simulated work environment. Specialised resources required for training and assessment include: • availability of qualified assessors • system which facilitates recording of trainees’ profiles and progress • facilities for workplace or simulated environment assessment Critical aspects of evidence will include: • thorough checking of relevant data • detailed knowledge of relevant legislation • general understanding of financial accounting and related software • strong communication, analysis and report writing skills • ability to use relevant data entry and office equipment Interdependent assessment of units: This unit should be assessed after competency has been demonstrated in units: FNARFS19A - Prepare Statistical and Ad Hoc Reports FNARFS20A - Prepare Government Returns Workplace outcomes (Underpinning knowledge and skills): The Evidence Guide is a guideline which assists in the development of assessment instruments/tools to assess the competency of workers in the Retail Financial Services sector. This requires evidence of consistent achievement of the workplace outcomes covered by the unit. An employee working at this level should be able to demonstrate the following underpinning knowledge and skills. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 126 FNARFS22A - DEVELOP FINANCIAL MODEL / PRODUCT EVIDENCE GUIDE Underpinning knowledge includes: • knowledge of budget and half yearly budget reports • knowledge of key result areas for evaluation of financial performance • knowledge of risk management strategies including professional indemnity requirements • detailed knowledge of products and marketing implications • knowledge of financial accounting and financial statements • knowledge of information systems including spreadsheets • knowledge of business plan • introductory knowledge of – the finance industry – accounting principles – business communication – business accounting – business law • knowledge of – the working environment – information technology Underpinning skills include: • planning and controlling skills • organising skills • risk management skills • budgeting skills • researching, observing and analysing skills • skills in identifying and evaluating business opportunities • written and verbal communication skills • reporting skills EVIDENCE GUIDE Key competencies: Utilisation of the key competencies in the performance of this unit. Level of utilisation of key competencies (1 – perform; 2 – administer; 3 – design) Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 127 FNARFS22A - DEVELOP FINANCIAL MODEL / PRODUCT EVIDENCE GUIDE Communicating ideas and information Collecting, analysing and organising information Planning and organising activities Working with others in a team Using mathematical ideas and techniques Solving problems Using technology 3 3 2 2 3 3 3 Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 128 FNARFS23A - BALANCE CASH HOLDINGS FNARFS23A Balance cash holdings Stream Retail Financial Services Functional Area Maintain Financial Operations Sub Functional Area Perform Retail Finance Duties National Code FNARFS23A Unit Description This unit describes those functions involved in balancing cash holdings including clearing registers, counting money, calculating non-cash transactions and reconciling takings. ELEMENT 1. 2. 3. Maintain accurate cash floats Remove takings from terminal Reconcile takings PERFORMANCE CRITERIA a) Cash in drawer is maintained in accordance with organisation’s policies and procedures. b) Regular cash transaction processing and proofings are conducted within specified time frames and recorded appropriately. c) Paid out and received cash is checked for accuracy. d) Cash at close of business is counted in accordance with organisation’s policies and procedures and discrepancies are investigated and corrected in order to balance float. e) Cash within branch budget is maintained within limits. a) Terminal balances are performed organisation’s policies and procedures. b) Cash is supplied to terminal according to organisation’s policies and procedures and float is separated from takings prior to balancing procedures. c) Terminal information is recorded appropriately after accurate checking. d) Security policies and procedures are followed in the removal and transportation of cash (including cash float) and non-cash documents. a) Cash and non-cash documents are correctly counted / calculated. b) Terminal reading and sum of cash and non-cash transactions are compared appropriately to achieve balance. c) Records of individual takings are recorded accurately and in accordance with organisation’s policies and procedures. in line with RANGE OF VARIABLES Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 129 FNARFS23A - BALANCE CASH HOLDINGS VARIABLE SCOPE Cash in drawer Cash in drawer refers to notes and coins held in manual cash handling devices. Organisation’s policies and procedures Organisation’s policies and procedures include policies and procedures relating to: • terminal balancing and security • neatness and tidiness of cash in drawer • time frames for processing transactions, periodic and end of day balances, and recording of discrepancies Proofings Proofings refers to the process of conducting a proof of cashier’s transactions. Specified time-frames Specified time frames include time frames specified in organisational policies and procedures or other organisational documentation and may vary depending on the nature of the task. Recording of documentation/ information Appropriate recording of documentation means that information is recorded in the approved format specified in organisational policies and procedures or other relevant documentation and in line with any relevant legislation. Appropriate recording of information may include recording on: • pro-formas • permanent hard copy • duplicate or triplicate copies Register/terminal Register/terminal includes a range manual or electronic equipment used for the deposit and withdrawal of cash and non cash documents. Terminals may be cleared by operator or by specialist staff at intervals during or at close of trading. Terminal information Terminal information refers to terminal readings or printouts. Security policies and procedures Security policies and procedures are those organisational policies and procedures that specifically refer to the securing and safe handling and transport of money and non-cash transactions. Non-cash transactions / documents Non-cash documents or transactions may include: • credit cards • cheques • EFTPOS Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 130 FNARFS23A - BALANCE CASH HOLDINGS RANGE OF VARIABLES VARIABLE Relevant legislation SCOPE Relevant legislation may include: Consumer • Consumer Credit Code • Privacy Act • secrecy laws • Codes of Practice Competition • ACCC Prudential • FI Code • CRAA • EFT Code of Conduct • Financial Transaction Reports Act • Cheques and Payment Orders Act EVIDENCE GUIDE Context for assessment: Assessment of performance requirements in the unit should be undertaken in an industry context. Aspects of competency, including attainment of relevant knowledge and skills may be assessed in a simulated work environment. Competency is demonstrated by performance of all stated criteria according to the Range of Variables applicable to the workplace. Specialised resources required for training and assessment include: • availability of qualified assessors • system which facilitates recording of trainees’ profiles and progress • facilities for workplace or simulated environment assessment Critical aspects of evidence will include: • demonstrated ability to precisely check cash and non-cash transactions • basic knowledge of relevant legislation • understanding and implementation of cash balancing procedures in accordance with Industry Codes of Practice and company policy • ability to use relevant data entry, terminal and office equipment Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 131 FNARFS23A - BALANCE CASH HOLDINGS EVIDENCE GUIDE Interdependent assessment of units: This unit may be assessed independently Workplace outcomes (Underpinning knowledge and skills): The Evidence Guide is a guideline which assists in the development of assessment instruments/tools to assess the competency of workers in the Retail Financial Services sector. This requires evidence of consistent achievement of the workplace outcomes covered by the unit. An employee working at this level should be able to demonstrate the following underpinning knowledge and skills. Underpinning knowledge includes: • knowledge of relevant legislation and statutory requirements • knowledge of Industry Codes of Practice including Consumer Credit Code, Privacy Act, Credit Act • knowledge of security checking procedures • introductory knowledge of – the finance industry – business communication – accounting principles – business law • knowledge of – customer relations – customer service • knowledge in the operation and maintenance of equipment which may include – keyboard skills – security equipment – terminals – numerical displays boards – calculators – scanners • knowledge of policies and procedures in regard to – terminal balance – cash and non-cash transactions security – cash float – operation of equipment used at terminal Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 132 FNARFS23A - BALANCE CASH HOLDINGS EVIDENCE GUIDE Underpinning skills include: • literacy skills in regard to written documentation • communication skills • numeracy skills in regard to cash handling • problem solving skills • time management skills Key competencies: Utilisation of the key competencies in the performance of this unit. Level of utilisation of key competencies (1 – perform; 2 – administer; 3 – design) Communicating ideas and information Collecting, analysing and organising information Planning and organising activities Working with others in a team Using mathematical ideas and techniques Solving problems Using technology 1 2 1 1 2 1 1 Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 133 FNARFS24A - MAINTAIN MAIN BANK ACCOUNT FNARFS24A Maintain main bank account Stream Retail Financial Services Functional Area Maintain Financial Operations Sub Functional Area Perform Retail Financial Duties National Code FNARFS24A Unit Description This unit describes those functions associated with analysis of transactions and the preparation of reconciliation reports. ELEMENT 1. 2. 3. PERFORMANCE CRITERIA a) Teller’s bankings are reconciled to daily amounts recorded in statements, in accordance with organisation’s policies and procedures. b) Presented cheques, other credit and other debits are identified and actioned according to the organisation’s policies and procedures. c) General ledger entries are charged appropriately. d) Errors and discrepancies are rectified in a timely manner. e) All entries on daily bank statements are actioned and followed-up as appropriate. Analyse corporate cheques outstanding a) Exceptions are identified and actioned in a timely manner. b) Stale cheques are identified and acted upon in a timely manner. Complete reconciliations a) Reconciliation is completed in an accurate and timely manner in accordance with organisation’s policies, procedures and practice and relevant legislation. b) Errors and discrepancies are identified and rectified in a timely manner. c) Appropriate liaison with customers and/or bank is undertaken as necessary. Perform analysis of transactions RANGE OF VARIALBES VARIABLE SCOPE Organisation’s policies, procedures and practices Organisation’s policies, procedures and practices may include established policies and procedures relating to preparation of reconciliation reports. Other credits and other debits Other credits and other debits are any transactions, either direct or indirect in nature, other than presented cheques which need to be recorded. General ledger entries General ledger entries include the recording of fees, Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 134 FNARFS24A - MAINTAIN MAIN BANK ACCOUNT RANGE OF VARIALBES VARIABLE SCOPE taxes and direct debits. Exceptions Exceptions refer to any corporate cheque falling outside normal parameters. Stale cheques Stale cheques refer to cheques which have passed the statutory time limit for presentation. Relevant legislation Relevant legislation may include: Consumer • Consumer Credit Code • Privacy Act • secrecy laws Competition • ACCC Prudential • FI Code • CRAA • EFT Code of Conduct • Financial Transaction reports Act • Cheques and Payment Orders act • Corporate Law • Commercial Tenancies Act • Land Tax Assessment Act • Prescribed Payments Act Relevant legislation (cont’d) • Payroll Tax Assessment Act • Stamp Duties Act • Taxation Assessment Act • Bills of Exchange Act EVIDENCE GUIDE Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 135 FNARFS24A - MAINTAIN MAIN BANK ACCOUNT EVIDENCE GUIDE Context for assessment: Assessment of performance requirements in the unit should be undertaken in an industry context. Aspects of competency, including attainment of relevant knowledge and skills, may be assessed through practical demonstration in the workplace or in an industry approved simulated work environment. Specialised resources required for training and assessment include: • availability of qualified assessors • system which facilitates recording of trainees' profiles and progress • facilities for workplace or simulated environment assessment Critical aspects of evidence will include: • thorough checking of transaction details and reconciliation reports • sound knowledge of relevant legislation • effective communication skills in dealing with customers and external organisations • thorough understanding of bank account reconciliation process • ability to use relevant data entry and office equipment Interdependent assessment of units: This unit may be assessed independently. Workplace outcomes (Underpinning knowledge and skills): The Evidence Guide is a guideline which assists in the development of assessment instruments/tools to assess the competency of workers in the Retail Financial Services sector. This requires evidence of consistent achievement of the workplace outcomes covered by the unit. An employee working at this level should be able to demonstrate the following underpinning knowledge and skills. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 136 FNARFS24A - MAINTAIN MAIN BANK ACCOUNT EVIDENCE GUIDE Underpinning knowledge includes: • knowledge of teller and banking processes • knowledge of information systems including spreadsheets • knowledge of relevant legislation • knowledge of range and type of government and non-government charges affecting bank account • introductory knowledge of – the finance industry – accounting principles – business communication – business law – business accounting • knowledge of – working environment – information technology Underpinning skills include: • organising planning and controlling skills • reporting skills • numerical skills • researching, observing and analysing skills • written and verbal communication skills • problem solving skills Key competencies: Utilisation of the key competencies in the performance of this unit. Level of utilisation of key competencies (1 – perform; 2 – administer; 3 – design) Communicating ideas and information Collecting, analysing and organising information Planning and organising activities Working with others in a team Using mathematical ideas and techniques Solving problems 1 2 1 1 2 2 Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Using technology 1 Retail Financial Services Competency Standards for Review by 30/06/2003 137 FNARFS25A - ADMINISTER FIXED ASSET REGISTER FNARFS25A Administer fixed asset register Stream Retail Financial Services Functional Area Maintain Financial Operations Sub Functional Area Perform Retail Finance Duties National Code FNARFS25A Unit Description This unit describes those functions associated with the maintenance of capital expenditure items. ELEMENT 1. 2. 3. PERFORMANCE CRITERIA Reconcile asset register to general ledgers a) All expenditure items are reconciled in accordance with organisation’s policies, procedures and practices. b) Discrepancies are identified and actioned according to organisation’s policies, procedures and practices. Recognise new assets and asset categories a) New asset categories are identified. b) Pro-forma for input of asset details is prepared and processed within the month of purchase. Prepare schedules and ad-hoc reports a) Depreciation expense is updated regularly according to depreciation schedule. b) Spreadsheets and reconciliations are prepared in accordance with annual tax schedule, with allowance made for permanent differences. c) Spreadsheets / ad hoc reports are prepared as requested. RANGE OF VARIABLES VARIABLE SCOPE Expenditure items Expenditure items may include assets accumulated department’s expense items. at cost, Organisation’s policies, procedures and practice Organisation’s policies, procedures and practice may include established policies, procedures and practices relating to maintenance of capital expenditure items and preparation of reconciliation reports. Spreadsheets/ad – hoc reports Ad-hoc reports/spreadsheets may include those prepared in relation to a range of capital expenditure items such as: • FBT • salary sacrifice • total purchases and disposals for a period Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 138 FNARFS25A - ADMINISTER FIXED ASSET REGISTER RANGE OF VARIABLES VARIABLE Relevant legislation SCOPE Relevant legislation may include: Consumer • Consumer Credit Code • Privacy Act • secrecy laws Competition • ACCC Prudential • FI Code • CRAA • EFT Code of Conduct • Financial Transaction reports Act • Cheques and Payment Orders act • Corporate Law • Commercial Tenancies Act • Land Tax Assessment Act • Prescribed Payments Act • Payroll Tax Assessment Act • Stamp Duties Act • Taxation Assessment Act • Bills of Exchange Act EVIDENCE GUIDE Context for assessment: Assessment of performance requirements in the unit should be undertaken in an industry context. Aspects of competency, including attainment of relevant knowledge and skills, may be assessed through practical demonstration in the workplace or in an industry approved simulated work environment. Specialised resources required for training and assessment include: • availability of qualified assessors • system which facilitates recording of trainees’ profiles and progress Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 139 FNARFS25A - ADMINISTER FIXED ASSET REGISTER EVIDENCE GUIDE • facilities for workplace or simulated environment assessment Critical aspects of evidence will include: • thorough checking of transaction details and reconciliation reports • sound knowledge of relevant legislation • effective communication skills • thorough understanding of reconciliation processes • thorough understanding of depreciation schedules • familiarity with fixed asset register software • ability to use relevant data entry and office equipment Interdependent assessment of units: This unit may be assessed independently. Workplace outcomes (Underpinning knowledge and skills): The Evidence Guide is a guideline which assists in the development of assessment instruments/tools to assess the competency of workers in the Retail Financial Services sector. This requires evidence of consistent achievement of the workplace outcomes covered by the unit. An employee working at this level should be able to demonstrate the following underpinning knowledge and skills. Underpinning knowledge includes: • knowledge of teller and banking processes • knowledge of fixed asset register software • knowledge of information systems including spreadsheets • knowledge of general ledgers • introductory knowledge of – the finance industry – accounting principles – business communication – business law – business accounting • knowledge of – working environment – information technology Underpinning skills include: • organising planning and controlling skills • reporting skills Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 140 FNARFS25A - ADMINISTER FIXED ASSET REGISTER EVIDENCE GUIDE • problem solving skills • researching, observing and analysing skills • written and verbal communication skills • numeracy skills Key competencies: Utilisation of the key competencies in the performance of this unit. Level of utilisation of key competencies (1 – perform; 2 – administer; 3 – design) Communicating ideas and information Collecting, analysing and organising information Planning and organising activities Working with others in a team Using mathematical ideas and techniques Solving problems 2 2 1 1 2 2 Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Using technology 2 Retail Financial Services Competency Standards for Review by 30/06/2003 141 FNARFS26A - ADMINISTER ACCOUNTS PAYABLE FNARFS26A Administer accounts payable Stream Retail Financial Services Functional Area Maintain Financial Operations Sub Functional Area Perform Retail Finance Duties National Code FNARFS26A Unit Description This unit describes those functions associated with the remittance of payments to sundry creditors. ELEMENT 1. 2. 3. 4. 5. Distribute creditors invoices for authorisation Prepare cheque requisition for authorisation Remit payment Prepare accounts paid report Reconcile balances outstanding PERFORMANCE CRITERIA a) Discrepancies are identified and rectified. b) Invoices are encoded correctly. c) Liaison is undertaken with appropriate personnel. d) Authorisation for payment is obtained. a) Invoices are authorised in accordance with organisation’s policies and procedures. b) Cheque requisition is correctly drawn up and authorised. c) General ledger to be drawn against is identified. d) Correct account is debited in a timely manner and in accordance with government requirements. a) Creditors payments are prepared in an accurate manner. b) Postage is prepared and payment made in a timely manner. a) Data is collected and entered onto spreadsheet giving details of creditors and amounts paid. b) Report on accounts paid is prepared for ratification by appropriate management. a) Statements of outstanding balances are sought from suppliers where required. b) Balances outstanding are reconciled to invoices received. RANGE OF VARIABLES VARIABLE Appropriate personnel SCOPE Appropriate personnel may include accounting personnel, business / unit or departmental managers. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 142 FNARFS26A - ADMINISTER ACCOUNTS PAYABLE RANGE OF VARIABLES VARIABLE SCOPE Organisation’s policies and procedures Organisation’s policies and procedures may relate to policies and procedures for the authorisation of invoices, payments and cheque requisitions and the terms and conditions associated with payments to sundry creditors. Appropriate management Appropriate level of management would depend on industry and company requirements, and may include the Board of Directors or a designated group from the Board of Directors (eg. the Executive). Relevant Legislation Relevant legislation may include: Consumer • Consumer Credit Code • Privacy Act • secrecy laws Competition • ACCC Prudential • FI Code • CRAA • EFT Code of Conduct • Financial Transaction Reports Act • Cheques and Payment Orders Act • Corporate Law • Commercial Tenancies Act • Land Tax Assessment Act • Prescribed Payments Act • Payroll Tax Assessment Act • Stamp Duties Act • Taxation Assessment Act • Bills of Exchange Act EVIDENCE GUIDE Context for assessment: Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 143 FNARFS26A - ADMINISTER ACCOUNTS PAYABLE EVIDENCE GUIDE Assessment of performance requirements in the unit should be undertaken in an industry context. Aspects of competency, including attainment of relevant knowledge and skills, may be assessed through practical demonstration in the workplace or in an industry approved simulated work environment. Specialised resources required for training and assessment include: • availability of qualified assessors • system which facilitates recording of trainees’ profiles and progress • facilities for workplace or simulated environment assessment Critical aspects of evidence will include: • thorough checking of invoices, remittance payments and balances outstanding • sound knowledge of relevant legislation • sound communication skills in liaising with departmental managers and creditors / suppliers • demonstrated understanding of bank account reconciliation process • demonstrated ability to use relevant data entry and office equipment Interdependent assessment of units: This unit may be assessed independently. Workplace outcomes (Underpinning knowledge and skills): The Evidence Guide is a guideline which assists in the development of assessment instruments/tools to assess the competency of workers in the Retail Financial Services sector. This requires evidence of consistent achievement of the workplace outcomes covered by the unit. An employee working at this level should be able to demonstrate the following underpinning knowledge and skills. Underpinning knowledge includes: • accounting principles and practices • use of financial spreadsheets • systems knowledge and familiarity • introductory knowledge of – the finance industry – accounting principles – business communication – business law – business accounting • knowledge of – working environment – information technology Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 144 FNARFS26A - ADMINISTER ACCOUNTS PAYABLE EVIDENCE GUIDE Underpinning skills include: • accounting skills • skills in using financial spreadsheets • written and verbal communication skills • reporting skills • problem solving skills • numeracy skills • planning and organising skills Key competencies: Utilisation of the key competencies in the performance of this unit. Level of utilisation of key competencies (1 – perform; 2 – administer; 3 – design) Communicating ideas and information Collecting, analysing and organising information Planning and organising activities Working with others in a team Using mathematical ideas and techniques Solving problems Using technology 2 2 1 1 2 2 1 Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 145 FNARFS27A - MAINTAIN INTEGRITY OF FINANCIAL SYSTEMS FNARFS27A Maintain integrity of financial systems Stream Retail Financial Services Functional Area Maintain Financial Operations Sub Functional Area Perform Retail Finance Duties National Code FNARFS27A Unit Description This unit describes those functions associated with the maintenance of accounting systems, including the general ledger. Equivalence This unit is adapted from and has equivalence to FNBFIN64A Maintain Integrity of Financial Systems. ELEMENT 1. 2. 3. 4. Reconcile general ledger accounts Reconcile general ledger to related systems Back up systems Monitor and review integrity of financial systems PERFORMANCE CRITERIA a) General ledger is reconciled accurately and regularly to subsidiary ledgers as determined by organisation’s policies and procedures. b) Outstanding items on reconciliation are resolved and corrections are made to the relevant accounts to ensure the integrity of the financial systems. c) Bank accounts are reconciled and suspense accounts are cleared to ensure reliability of the general ledger. d) Completed reconciliation is authorised by appropriate personnel according to organisation’s policies and procedures. a) Related system entries are processed promptly. b) Interfaces from related systems are reconciled accurately in accordance with organisation’s policies and procedures. c) Validity and accuracy of related systems is verified to maintain integrity of accounting systems. a) System backup follows organisation schedule precisely. b) Backups are verified and stored in accessible location to protect integrity of system information and in accordance with audit and security requirements. a) Processes are established to regularly monitor financial systems to ensure reliability, integrity and compliance with relevant regulations. b) Variations from organisation’s policies and procedures are identified and assessed to determine impact on financial system and actions required. c) User feedback is encouraged and reviewed to determine impact on financial system and actions required. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 146 FNARFS27A - MAINTAIN INTEGRITY OF FINANCIAL SYSTEMS ELEMENT 5. Update systems for management requirements and regulations PERFORMANCE CRITERIA a) Estimates of costs associated with changes are made in order to assess cost effectiveness. b) System updates are tested to ensure they reflect changed requirements. c) Update is comprehensive and maintains integrity of accounting systems. d) Changes are applied consistently to all affected systems to ensure report information remains valid. e) Changed or updated documentation is circulated without delay to ensure all relevant parties are fully informed of variations. RANGE OF VARIABLES VARIABLE SCOPE Organisation policies and procedures Organisation policies and procedures may include operations manuals, internal control guidelines, computer system documentation. Appropriate personnel Appropriate personnel may include accounting personnel, business unit or departmental managers. Related systems Related systems may include suspense accounts, cost centre accounts, investments register. Backup systems Systems requiring backup may be manual or computer based. Backup schedule Backup schedules may be daily, weekly or monthly, and are usually prescribed in organisation’s procedures/ system operational procedures. User feedback Feedback may be obtained from other accounting personnel, managers and organisational staff using financial systems. Management requirements and regulations Management requirements and regulations may include authority levels, classification systems, cost centre definitions, new expenditure accounts, reinsurance returns, audit trails. Relevant parties Relevant parties may include management, accounting personnel and organisational staff. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority other Retail Financial Services Competency Standards for Review by 30/06/2003 147 FNARFS27A - MAINTAIN INTEGRITY OF FINANCIAL SYSTEMS RANGE OF VARIABLES VARIABLE Relevant Legislation SCOPE Relevant legislation may include: Consumer • Consumer Credit Code • Privacy Act • secrecy laws Competition • ACCC Prudential • FI Code • CRAA • EFT Code of Conduct • Financial Transaction Reports Act • Cheques and Payment Orders act • Corporate Law • Commercial Tenancies Act • Land Tax Assessment Act • Prescribed Payments Act • Payroll Tax Assessment Act • Stamp Duties Act • Taxation Assessment Act • Bills of Exchange Act EVIDENCE GUIDE Context for assessment: Assessment of performance requirements in the unit should be undertaken in an industry context. Aspects of competency, including attainment of relevant knowledge and skills, may be assessed through practical demonstration in the workplace or in an industry approved simulated work environment. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 148 FNARFS27A - MAINTAIN INTEGRITY OF FINANCIAL SYSTEMS EVIDENCE GUIDE Specialised resources required for training and assessment include: • availability of qualified assessors • system which facilitates recording of trainees’ profiles and progress • facilities for workplace or simulated environment assessment Critical aspects of evidence will include: • thorough checking of reconciliation items with related system entries • detailed knowledge of relevant legislation • comprehensive knowledge of accounting procedures and practices • sound communication skills in liaising with departmental managers and creditors / suppliers • thorough understanding of bank account reconciliation process • ability to backup and update financial systems • ability to use relevant data entry and office equipment Interdependent assessment of units: This unit should be assessed after competency has been demonstrated in units: FNARFS23A - Balance Cash Holdings FNARFS24A - Maintain Main Bank Account FNARFS25A - Administer Fixed Asset Register FNARFS26A - Administer Accounts Payable Workplace outcomes (Underpinning knowledge and skills): The Evidence Guide is a guideline which assists in the development of assessment instruments/tools to assess the competency of workers in the Retail Financial Services sector. This requires evidence of consistent achievement of the workplace outcomes covered by the unit. An employee working at this level should be able to demonstrate the following underpinning knowledge and skills. Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Retail Financial Services Competency Standards for Review by 30/06/2003 149 FNARFS27A - MAINTAIN INTEGRITY OF FINANCIAL SYSTEMS EVIDENCE GUIDE Underpinning knowledge includes: • accounting principles and practices • use of financial spreadsheets • systems knowledge and familiarity • introductory knowledge of – the finance industry – accounting principles – business communication – business law – business accounting • knowledge of – working environment – information technology Underpinning skills include: • accounting and financial management skills • skills in using financial spreadsheets • reporting skills • system backup skills • financial modelling skills • written and verbal communication skills • analytical skills • problem solving skills • numeracy skills • planning and organising skills • monitoring skills Key competencies: Utilisation of the key competencies in the performance of this unit. Level of utilisation of key competencies (1 – perform; 2 – administer; 3 – design) Communicating ideas and information Collecting, analysing and organising information Planning and organising activities Working with others in a team Using mathematical ideas and techniques Solving problems 2 3 2 2 2 2 Financial Services Training Package FNB99:Version 4 © Australian National Training Authority Using technology 2 Retail Financial Services Competency Standards for Review by 30/06/2003 150