Release 

Comments 

Release 1

This version first released with FNS Financial Services Training Package Version 1.0.

ELEMENT 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Check and verify application details

1.1 Gather information required to support application in accordance with credit policy and record using correct organisational policy and procedures

1.2 Verify information provided by applicant and obtain verification from other sources for accuracy and compliance with relevant legislative requirements, industry regulations and organisational guidelines

2. Submit assessment and decision

2.1 Conduct a credit assessment and apply credit policy to inform applicant of the decision to reject or accept application

2.2 Refer decisions to advance funds or extend credit that falls outside officer’s approval, or limits of authority, to relevant approving personnel

2.3 Prepare recommendations to accept or reject applications to provide credit or advance funds and identify any required security

2.4 Forward recommendations to relevant personnel promptly in accordance with organisational procedures

3. Maintain application records and complete necessary documentation

3.1 Maintain an up-to-date records system according to legislative requirements and timeframes, and organisational policy and procedures

3.2 Monitor and record file movements

3.3 Produce accurate, clear and concise documentation in accordance with industry, organisational and legislative requirements and timeframes

Skill 

Performance Criteria 

Description 

Reading

1.1, 1.2, 2.1

• Identifies textual information from a range of sources

Writing

1.1, 2.1, 2.3, 3.1-3.3

• Records relevant facts and information using clear, concise language to convey requirements, recommendations and changes

Oral Communication

1.1, 1.2

• Participates in exchanges to elicit and verify relevant information using careful listening and questioning techniques with consideration of context, purpose and audience

Numeracy

1.1, 1.2, 2.1, 2.2, 2.3, 3.3

• Extracts, evaluates, monitors and checks numerical information embedded in a range of tasks and texts

Navigate the world of work

1.2, 2.1, 2.3, 2.4, 3.1, 3.3

• Complies with explicit policies and procedures
• Explores and implements, where identified, the implicit expectations of policies and procedures
• Seeks advice and clarification for new activities

Interact with others

1.2, 2.2

• Uses a range of strategies and reads verbal and non-verbal signals to establish a sense of connection and build rapport with customers and workmates
• Recognises and accommodates the basic differences and priorities of others

Get the work done

1.1, 2.3, 2.4, 3.1, 3.2

• Uses familiar digital technologies and systems to access information, search and enter data, present information and communicate with others, cognisant of data security and safety
• Takes responsibility for planning, sequencing and prioritising tasks and own workload for efficiency and effective outcomes

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNSCRD301 Process applications for credit

FNSCRD301A Process applications for credit

Updated to meet Standards for Training Packages

Industry updates

Some performance criteria rewritten for clarification

Equivalent unit

Release 

Comments 

Release 1

This version first released with FNS Financial Services Training Package Version 1.0.