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. Satisfy initial enquiry

1.1 Respond to initial customer enquiries on type, range and availability of credit and provide information with courtesy, respect and recognition of special needs of customers

1.2 Provide basic information, such as terms and conditions and interest rate, and determine potential securitisation needs in accordance with credit policy and legislative requirements

2. Assess and verify credit information

2.1 Verify credit applications and documentation in accordance with organisational policy and procedures to maintain accuracy of credit database information

2.2 Analyse credit information to establish that sufficient evidence of accurate information has been provided

2.3 Maintain liaison with customers and relevant internal and external personnel to ensure information is kept up to date and disseminated appropriately

3. Assess risk

3.1 Identify and evaluate possible risks to determine overall level of risk associated with application

3.2 Identify need to take security, minimise risk exposure and provide protection against risk in accordance with organisational risk management policy

3.3 Document risk assessment in accordance with organisational procedures

4. Establish credit terms and limits

4.1 Make decision on how to proceed with credit application based on assessed information and in accordance with organisational risk management policy

4.2 Determine credit terms and limits within organisational credit policy guidelines and advise customers of credit decisions promptly and courteously

4.3 Complete credit account administration according to organisational credit policy and timelines, and legislative requirements

Skill 

Performance Criteria 

Description 

Reading

2.1, 2.2, 3.1

• Analyses and carefully reviews a range of documents to verify details, assess risk and inform decisions

Writing

2.3, 3.3, 4.3

• Records information accurately from spoken texts, and integrates information from a range of other sources using vocabulary, numerical data and organisational structures to convey precise meaning in required formats

Oral Communication

1.1,1.2, 2.3, 4.2

• Engages effectively using vocabulary and structure appropriate to the requirements of a diverse audience
• Uses clear and direct language to convey details, and careful listening and questioning techniques to elicit and verify information from internal and external stakeholders

Numeracy

1.2, 2.1, 2.2, 3.1-3.2, 4.1, 4.2

• Interprets and analyses numerically expressed information from a range of sources to assess risk
• Performs calculations to establish credit levels and monitors and reviews financial data for accuracy and compliance

Navigate the world of work

1.2, 2.1, 3.2, 3.3, 4.1, 4.2, 4.3

• Accepts responsibility and ownership for the task and makes decisions on completion parameters and the need for coordination with others
• Takes personal responsibility for following explicit and implicit policies, procedures and legislative requirements
• Identifies and acts on issues that contravene relevant policies, procedures and legal requirements

Interact with others

1.1, 1.2, 2.3, 4.2

• Implements strategies for a diverse range of colleagues and customers to build rapport and foster strong relationships

Get the work done

1.2, 2.2, 2.3, 3.1, 3.3, 4.2, 4.3

• Makes critical decisions quickly and intuitively in complex situations, taking into consideration a range of variables including the outcomes of previous decisions
• Takes responsibility for planning, sequencing and prioritising tasks and own workload for efficiency and effective outcomes
• 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 

FNSCRD401 Assess credit applications

FNSCRD401A Assess credit applications

Updated to meet Standards for Training Packages

Performance criteria rewritten and reordered for clarification

Equivalent unit

Release 

Comments 

Release 1

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