Modification History
Not applicable.
Unit Descriptor
Unit descriptor |
This unit describes the performance outcomes, skills and knowledge required to correctly initiate and complete the management of customer accounts which have outstanding payments. This unit has application to a variety of financial services sectors and is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements so the varying Commonwealth, State or Territory requirements should be confirmed with the relevant body. |
Application of the Unit
Application of the unit |
This unit may be adapted to meet a range of debt recovery and debt management job roles. |
Licensing/Regulatory Information
Not applicable.
Pre-Requisites
Prerequisite units |
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Employability Skills Information
Employability skills |
This unit contains employability skills. |
Elements and Performance Criteria Pre-Content
Elements describe the essential outcomes of a unit of competency. |
Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the required skills and knowledge section and the range statement. Assessment of performance is to be consistent with the evidence guide. |
Elements and Performance Criteria
ELEMENT |
PERFORMANCE CRITERIA |
1. Identify customers requiring collection activity |
1.1. Organisation overdue account reporting system is regularly monitored for possible collection action 1.2. Relevant customer information is accessed and records retrieved 1.3. Overdue debtors are reviewed in accordance with organisation policy and procedures and relevant legislation |
2. Establish contact with customer and attempt to resolve outstanding payment matters |
2.1. Proposed communication with customer to collect outstanding payments is determined and confirmed with authorised personnel in the organisation and the correct entity in the outstanding payment matter 2.2. Rapport with the customer is established and all communication is in accordance with relevant legislation and company policy and procedures 2.3. The purpose of contact is clearly and comprehensively advised to the organisation in accordance with legislative requirements |
3. Negotiate resolution of outstanding payments |
3.1. Debtors are advised of the possibility of legal action and any other implications of not resolving outstanding payments 3.2. Appropriate techniques are used to achieve resolution and the outcomes of negotiation are accurately recorded 3.3. Further action to be undertaken in relation to outstanding payment matters is diarised |
4. Agreement is monitored to ensure adherence |
4.1. Account is regularly reviewed to ensure that payments are received in accordance with the negotiated arrangement 4.2. Breaches of agreement are addressed in accordance with organisation policy and procedures and legislative requirements 4.3. Outstanding payment matters are referred to appropriate personnel as required |
Required Skills and Knowledge
REQUIRED SKILLS AND KNOWLEDGE |
This section describes the skills and knowledge required for this unit. |
Required skills |
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Required knowledge |
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Evidence Guide
EVIDENCE GUIDE |
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The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package. |
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Overview of assessment |
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Critical aspects for assessment and evidence required to demonstrate competency in this unit |
Evidence of the ability to:
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Context of and specific resources for assessment |
Assessment must ensure:
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Method of assessment |
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
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Guidance information for assessment |
Range Statement
RANGE STATEMENT |
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The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included. |
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Organisation policy and procedures may cover: |
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Legislation may include: |
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Legal actions may include: |
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Appropriate techniques for negotiation include: |
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Unit Sector(s)
Unit sector |
Credit management |
Competency field
Competency field |
Co-requisite units
Co-requisite units |
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