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. Implement appropriate course of action to recover outstanding debt

1.1 Review account history and determine appropriate recovery action based on account history

1.2 Advise customers promptly of possible implications of outstanding debts and deal with any objections according to organisational guidelines and legislative requirements

1.3 Document agreed payment arrangements accurately according to organisational system requirements

2. Monitor and review effectiveness of recovery action

2.1 Review customer accounts for their adherence to agreed payment arrangements

2.2 Identify customers’ non-compliance with agreed arrangements and manage in accordance with organisational guidelines

2.3 Involve internal stakeholders in review and monitoring process as required

3. Re-assess account to determine eligibility for write-off

3.1 Re-assess account to determine if it is appropriate for write-off as agreed payment arrangements have not been met

3.2 Document recommendations for write-off and account closure, complying with legislation and organisational guidelines, that authorised personnel can action

Skill 

Performance Criteria 

Description 

Reading

1.1, 2.1, 3.3

• Accesses, manages and evaluates textual information from a variety of sources to identify relevant information

Writing

1.2, 1.3, 3.2

• Addresses context and purpose when generating texts for internal and external stakeholders
• Selects appropriate vocabulary and terminology to elicit information, convey instructions and document recommendations clearly and accurately

Oral Communication

1.1,1.2, 2.2, 2.3,

• Engages in complex negotiations to elicit and clarify the viewpoints of others using careful listening and questioning
• Uses clear and detailed language to express requirements and to reach agreement with others

Numeracy

1.1, 1.3, 2.1, 3.1, 3.3

• Evaluates and reviews numerically expressed information to inform action
• Uses medium level mathematical calculations to establish and monitor requirements for compliance or further action as required

Navigate the world of work

3.2, 3.3

• 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

1.2, 2.2, 2.3, 3.2

• Identifies and explores differences in a diverse range of people in the work context and makes adjustments to communication in recognition of these differences
• Recognises behaviours and triggers that contribute to conflict and implements strategies to moderate conflict
• Selects and uses appropriate conventions and protocols when communicating to customers and co-workers in a range of work contexts

Get the work done

1.1, 2.1, 3.1, 3.3

• Makes routine decisions and implements standard procedures for routine tasks, using formal decision-making processes for more complex and non-routine situations
• 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 

FNSCRD403 Manage and recover bad and doubtful debts

FNSCRD403A Manage and recover bad and doubtful debts

Updated to meet Standards for Training Packages

Changes performance criteria for clarification

Equivalent unit

Release 

Comments 

Release 1

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