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. Discuss and confirm with client arrangements for ongoing service

1.1 Prepare ongoing service options for presentation to client and recommend most appropriate option

1.2 Ensure prepared options include provision for best practice in ongoing service delivery in terms of frequency of contact, quality and thoroughness of assessment against performance targets in financial plan

1.3 Clearly define and agree on areas and targets to be reviewed and allocation of responsibilities

1.4 Agree on ongoing standard of service with client, including quality parameters, reporting frequency and arrangements for reviews and client initiated changes

1.5 Explain and confirm fees and charges for ongoing service with client, including costs of service needs outside requirements of agreement

1.6 Ensure agreement for ongoing service is signed by client

2. Establish procedures for providing ongoing service

2.1 Identify and brief personnel to implement each action in ongoing service arrangements

2.2 Identify and follow internal and external documentation requirements

2.3 Diarise key revision dates and establish client contact arrangements

2.4 Develop procedures for client to request unscheduled reviews

2.5 Establish monitoring procedures for critical timings and priorities

3. Undertake and/or supervise monitoring of financial plan

3.1 Establish arrangements for monitoring ongoing performance of financial plan

3.2 Monitor quality of ongoing client service

3.3 Ensure representative provides quality ongoing service that meets industry best practice, and organisational and regulatory requirements

3.4 Ensure representative issues instructions to internal and external personnel as per plan requirements

3.5 Check and follow up lodgement of documentation to ensure plan timings are met

3.6 Ensure representative obtains fees and charges, and processes according to organisational and legislative requirements

3.7 Establish clear arrangements for client to contact representative at any time with concerns and queries

4. Establish long-term professional relationship with client

4.1 Ensure regular communication arrangements between representative and client, and include scheduled meetings

4.2 Monitor client satisfaction against performance indicators of the practice

Skill 

Performance Criteria 

Description 

Reading

1.1, 2.2, 2.4

• Interprets and analyses information and products from a variety of sources to ensure appropriateness to client needs, currency and accuracy

Writing

1.1-1.5, 2.1-2.4, 3.4, 4.1

• Completes internal and external documentation accurately following organisational procedures and protocols
• Uses clear language, correct spelling and grammar and appropriate terminology to convey information to a range of personnel

Oral Communication

1.1, 1.3-1.5, 2.1, 3.4, 4.1

• Effectively participates in verbal exchanges using active listening and questioning skills and collaborative techniques to share, convey and clarify information
• Uses language, tone and concepts appropriate to the audience and purpose

Numeracy

1.1, 1.3, 1.5, 2.5, 3.1, 3.6

• Uses mathematical equations to perform calculations, make comparisons and check the accuracy of financial data
• Analyses, records and stores complex financial data and information

Navigate the world of work

2.3, 2.5, 3.3, 3.6

• Takes full responsibility for ensuring that documentation and processes comply with legislative and organisational requirements

Interact with others

1.1, 1.3, 1.4, 2.1, 3.4, 4.1

• Selects and uses appropriate conventions and protocols when communicating with diverse internal and external stakeholders to provide or seek information
• Uses collaborative techniques to negotiate agreement about service provision
• Adapts personal communication style to show respect for the opinions, values and particular needs of others

Get the work done

1.1-1.5, 2.1-2.5, 3.1-3.7, 4.1, 4.2

• Takes responsibility for planning, sequencing and prioritising complex tasks to achieve client requirements according to legislative and organisational requirements
• Systematically analyses and evaluates complex information to make informed decisions
• 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 

FNSFPL603 Provide comprehensive monitoring and ongoing service

FNSFPL603A Provide comprehensive monitoring and ongoing service

Updated to meet Standards for Training Packages

Minor edits to clarify intent of performance criteria

Equivalent unit

Release 

Comments 

Release 1

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