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Qualification details

FNS40111 - Certificate IV in Credit Management (Release 3)

Summary

Usage recommendation:
Superseded
Mapping:
MappingNotesDate
Supersedes and is equivalent to FNS40110 - Certificate IV in Credit ManagementUnit changes in the core compliance unit BSBCOM405A to FNSORG401A, to better reflect workplace requirements; OHS unit changed in electives BSBOHS303B to BSBOHS201A to better reflect workplace requirements - OUTCOMES EQUIVALENT 15/Jan/2012
Is superseded by and equivalent to FNS40115 - Certificate IV in Credit ManagementUpdated to meet Standards for Training Packages. 24/Mar/2015

Releases:
ReleaseRelease date
3 (this release) 18/Jul/2013
(View details for release 2) 06/Sep/2012
(View details for release 1) 16/Jan/2012

Units of competency

CodeSort Table listing Units of Competency by the Code columnTitleSort Table listing Units of Competency by the Title columnEssentialSort Table listing Units of Competency by the Essential column
FNSACC401A - Process business tax requirementsProcess business tax requirementsN/A
BSBWOR501B - Manage personal work priorities and professional developmentManage personal work priorities and professional developmentElective
BSBWOR402A - Promote team effectivenessPromote team effectivenessN/A
FNSCRD403A - Manage and recover bad and doubtful debtsManage and recover bad and doubtful debtsN/A
BSBCCO203A - Conduct customer contactConduct customer contactElective
FNSRSK401A - Implement risk management strategiesImplement risk management strategiesN/A
FNSINC401A - Apply principles of professional practice to work in the financial services industryApply principles of professional practice to work in the financial services industryN/A
FNSCRD405A - Manage overdue customer accountsManage overdue customer accountsN/A
BSBCMM301B - Process customer complaintsProcess customer complaintsElective
FNSCRD402A - Establish and maintain appropriate securitisationEstablish and maintain appropriate securitisationN/A
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Classifications

SchemeCodeClassification value
ANZSCO Identifier 552211 Credit and Loans Officer (Aus) / Finance Clerk (NZ)  
ASCO (occupation type) Identifier 5912-11 Credit And Loans Officer 
ASCED Qualification/Course Field of Education Identifier 0811 Banking, Finance And Related Fields 
Qualification/Course Level of Education Identifier 511 Certificate IV 
Taxonomy - Industry Sector N/A Financial Services 
Taxonomy - Occupation N/A Senior Credit Officer,Credit and Loans Officer 

Classification history

SchemeCodeClassification valueStart dateEnd date
ANZSCO Identifier 552211 Credit and Loans Officer (Aus) / Finance Clerk (NZ)  02/Oct/2012 
ASCO (occupation type) Identifier 5912-11 Credit And Loans Officer 02/Oct/2012 
ASCED Qualification/Course Field of Education Identifier 0811 Banking, Finance And Related Fields 02/Oct/2012 
Qualification/Course Level of Education Identifier 511 Certificate IV 16/Jan/2012 
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Modification History

Release 

Comment 

Release 3

This version first released with FNS10 Financial Services Training Package version 5.0.

Update imported units:

BSBCCO201A Action customer contact replaced by equivalent unit BSBCCO203A Conduct customer contact;

BSBCMM301A to  BSBCMM301B; BSBCUS403A to BSBCUS403B; BSBWOR501A to BSBWOR501B.

Qualification outcomes remain unchanged.

Release 2

This version first released with FNS10 Financial Services Training Package version 3.0.

Advice relating to regulatory requirements removed from the qualification and reference made to the regulator and Regulatory advice held on the IBSA website

Release 1

This Qualification first released with FNS10 Financial Services Training Package version 2.0.

Replaced BSBCOM405A Promote compliance with legislation with FNSCMP401A Conduct individual work within a compliance framework. This is considered a more appropriate unit for this qualification.

Replaced BSBOHS303B Contribute to OHS hazard identification and risk assessment with BSBOHS201A Participate in OHS processes. This is considered a more appropriate unit for this qualification.

Replaces FNS40110 Certificate IV in Credit Management.

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.

Pathways Information

Pathways into the qualification  

The primary pathway into this qualification is entry level employment in job roles including:

  • credit officer
  • reconciliation officer
  • customer service officer
  • credit manager (in smaller organisations)

Pathways from the qualification 

A learning pathway such as Diploma of Credit Management would support career progression.

Licensing/Regulatory Information

Work functions in this occupational area are subject to regulatory requirements. You should refer to the IBSA website (www.ibsa.org.au) or the relevant regulator for specific guidance on requirements.

Entry Requirements

Not applicable.

Employability Skills Summary

The following table contains a summary of the employability skills required by industry for this qualification. The employability skills facets described here are broad industry requirements that may vary depending on qualification packaging options.

Employability Skill 

Industry/enterprise requirements for this qualification include: 

Communication

  • assisting clients to identify financial goals and to prioritise and assess their current financial situation
  • liaising with debtors and using negotiation strategies to resolve disputes, queries and problems
  • providing financial counselling and communicating in plain language
  • using excellent interpersonal, telephone and written skills

Teamwork

  • developing a rapport with clients when identifying their needs, objectives and financial situation
  • liaising with clients, debtors and a range of other people internal and external to the organisation

Problem solving

  • analysing and synthesising information and determining levels of credit risk
  • applying risk management criteria in assessing credit applications and security requirements
  • calculating interest/loan repayments
  • collecting, comparing and contrasting data
  • comparing products and services in order to offer clients different options
  • using problem solving tools and techniques

Initiative and enterprise

  • generating a range of options for clients to consider
  • initiating legal processes in line with client need and legal requirements
  • referring non-routine problems to a nominated person
  • translating ideas into action

Planning and organising

  • contributing to the planning process by researching, analysing and validating information relating to debts
  • processing routine documents and maintaining files, managing information and scheduling and coordinating competing tasks

Self-management

  • acting as a role model for others
  • defining and understanding own work role
  • taking to management, concerns with own level of responsibility
  • understanding and acting to ensure compliance requirements are met
  • working ethically and complying with organisational, professional code of practice and legislative requirements

Learning

  • acquiring and applying knowledge of credit legislation, products and services
  • applying learning to develop improved practices
  • coaching and mentoring others to acquire new knowledge and skills
  • contributing to the learning of others through implementing team building exercises
  • developing and maintaining professional competency

Technology

  • operating the organisation’s business or records management system
  • using business technology such as computers and applying word processing, spreadsheet and database skills to produce workplace documents
  • using technology to assist the management of information and to assist the planning process

Packaging Rules

12 units  must be achieved:

9 core units 

plus 3 elective units. 

3 elective units  may be selected from the elective units listed below or any other qualification at Certificate IV level within the FNS training package.

2 elective units  may be selected from the elective units listed below, any endorsed Training Package or accredited course. Elective units may be selected from a Certificate III, Certificate IV or Diploma qualification.

Elective units must be relevant to the work outcome, local industry requirements and the qualification level.

Core units of competency: 

  • 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
  • FNSORG401A Conduct individual work within a compliance framework
  • FNSRSK401A Implement risk management strategies

Elective units of competency: 

  • 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
  • BSBCCO203A Conduct customer contact
  • BSBCMM301B Process customer complaints
  • BSBCUS403B Implement customer service standards
  • BSBFIA401A Prepare financial reports
  • BSBMGT405A Provide personal leadership
  • BSBOHS201A Participate in OHS processes
  • BSBSMB407A Manage a small team
  • BSBWOR402A Promote team effectiveness
  • BSBWOR501B Manage personal work priorities and professional development