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. Manage interaction between credit relationship and business objectives and strategies

1.1 Apply credit risk factors and knowledge of environmental factors to credit relationship and compare to business objectives and strategies

1.2 Use effective performance management techniques to achieve effective credit management

2. Deal with debtors in difficult circumstances

2.1 Implement organisational policy and procedures to identify early warning signs of debtor difficulty and address debtors experiencing difficult circumstances

2.2 Determine and apply relevant legislative requirements and industry regulations to specific debtor situations

2.3 Respond considerately, using effective communication skills, to particular debtor circumstances in accordance with organisational policy and procedures

3. Terminate credit relationship

3.1 Inform clients, where relevant, that the credit relationship is terminated

3.2 Maintain all records accurately in accordance with legislative requirements

3.3 Destroy or store relevant documentation in accordance with organisational policy and procedures, and legislative requirements

Skill 

Performance Criteria 

Description 

Reading

2.3

• Analyses and interprets textual information from internal and external sources to determine content relevant to individual client needs and to inform compliant actions

Writing

2.1, 2.3, 3.1

• Processes records and documents strategies using clear, concise and industry specific language for others to interpret and follow

Numeracy

1.2, 2.1

• Uses mathematical skills to perform calculations and interpret a range of statistical information related to credit management activity

Navigate the world of work

2.2, 2.3, 3.1, 3.2

• Takes full responsibility for following policies, procedures and legislative requirements and identifies organisational implications of new legislation or regulation
• Works independently or with others in making decisions to achieve organisational outcomes and strategies

Get the work done

1.1, 1.2,

2.1-2.3,

3.1, 3.2

• Applies systematic and analytical decision-making processes for complex and non-routine situations
• Accepts responsibility for planning and sequencing complex tasks and workload, negotiating key aspects with others and taking into account capabilities, efficiencies and effectiveness
• Uses the main features and functions of digital tools to complete work tasks

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNSCRD504 Manage the credit relationship

FNSCRD504A Manage the credit relationship

Updated to meet Standards for Training Packages

Rewritten and clarified performance criteria

Equivalent unit

Release 

Comments 

Release 1

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