Modification History
Not applicable.
Description
This qualification reflects entry level job roles in credit management that apply in a range of financial services sectors and to credit management functions in other industries.
The qualification includes the Units of Competency which could meet the educational requirements for the obtaining of an Australian Credit Licence (ACL). Conditions relating to ASIC accreditation should be obtained from ASIC.
The Commonwealth Government will assume responsibility for the Uniform Consumer Credit Code (UCCC) by enacting it as Commonwealth law. Consumer Credit Protection legislation was enhanced on 17 September 2009 and the Consumer Credit Reforms commenced on 1 July 2010. The Australian Securities and Investments Commission (ASIC) will administer credit provider regulation.
Anyone who engages in certain credit activities requires an Australian Credit Licence (ACL). They will need to:
- have registered with ASIC between 1 April and 30 June 2010 (inclusive) and apply for an Australian credit licence (ACL) between 1 July 2010 and 31 December 2010 (applicable only to currently registered credit participants)
- apply for an ACL from 1 July 2010 (applicable to new entrants to the credit market).
Pathways Information
Qualification Pathway
The primary pathway from this qualification is entry level employment in job roles including:
- credit officer
- credit controller
- credit analyst
- recoveries officer
- reconciliation officer
- credit services officer
- credit/lending officer
- customer service officer
- credit manager (in smaller organisations)
This qualification may be suited to an Australian Apprenticeship pathway.
A learning pathway such as FNS51510 Diploma of Credit Management would support career progression.
Licensing/Regulatory Information
Not applicable.
Entry Requirements
Not applicable.
Employability Skills Summary
EMPLOYABILITY SKILLS QUALIFICATION SUMMARY |
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Employability Skill |
Industry /enterprise requirements for this qualification include : |
Communication |
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Teamwork |
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Problem solving |
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Initiative and enterprise |
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Planning and organising |
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Self-management |
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Learning |
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Technology |
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Packaging Rules
Packaging Rules
12 units must be achieved:
9 core units
plus 3 elective units .
- all elective units of competency can be selected from the elective bank below or from units aligned to Certificate IV qualifications in the FNS10 Financial Services Training Package
- A maximum of 2 electives may be selected from units aligned to Certificate III or Diploma qualifications in the FNS10 Financial Services Training Package
- A maximum of 2 electives may be selected from units aligned to Certificate IV or Diploma qualifications from another endorsed Training Package or accredited course.
Elective units must be relevant to the work outcome, local industry requirements and the qualification level.
Units selected from other Training Packages or accredited courses must not duplicate units selected from or available within the FNS10 Financial Services or BSB07 Business Services Training Packages.
Core units of competency :
- BSBCOM405A Promote compliance with legislation
- FNSCRD401A Assess credit applications
- FNSCRD402A Establish and maintain appropriate securitisation
- FNSCRD403A Manage and recover bad and doubtful debts
- FNSCRD404A Utilise the legal process to recover outstanding debt
- FNSCRD405A Manage overdue customer accounts
- FNSCUS402A Resolve disputes
- FNSINC401A Apply principles of professional practice to work in the financial services industry
- FNSRSK401A Implement risk management strategies
Elective units of competency :
- BSBCCO201A Action customer contact
- BSBCMM301A Process customer complaints
- BSBCUS403A Implement customer service standards
- BSBFIA401A Prepare financial reports
- BSBMGT405A Provide personal leadership
- BSBOHS303B Contribute to OHS hazard identification and risk assessment
- BSBSMB407A Manage a small team
- BSBWOR402A Promote team effectiveness
- BSBWOR501A Manage personal work priorities and professional development
- FNSACC401A Process business tax requirements
- FNSCNV506A Establish and manage a trust account
- FNSCRD503A Promote understanding of the role and effective use of consumer credit
- FNSRSK502A Assess risks