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Unit of competency details

FNSCUS502 - Monitor client requirements (Release 1)

Summary

Usage recommendation:
Superseded
Mapping:
MappingNotesDate
Supersedes and is equivalent to FNSCUS502A - Monitor client requirementsUpdated to meet Standards for Training Packages Minor edits to clarify performance criteria 24/Mar/2015
Is superseded by and equivalent to FNSCUS512 - Monitor clients’ financial requirements 03/Nov/2020

Releases:
ReleaseRelease date
1 1 (this release) 25/Mar/2015


Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 080501 Sales  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 080501 Sales  30/Jul/2015 
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Unit Of competency

Modification History

Release 

Comments 

Release 1

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

Application

This unit describes the skills and knowledge required to collect and analyse client information, use it as the basis for determining the level of contact required and monitor and maintain the quality of the service provided.

It applies to individuals who may use a range of specialised and managerial techniques to plan, monitor and review their work in any sector of the financial services industry.

No licensing, legislative or certification requirements apply to this unit at the time of publication.

Unit Sector

Customer service

Elements and Performance Criteria

ELEMENT 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Determine client needs

1.1 Collect comprehensive information on clients using appropriate means and in compliance with guidelines

1.2 Review records regularly to ensure information is current and maintain complete records of risks assessed and action taken

1.3 Monitor effectiveness of guidelines and adjust as required

2. Establish communication with clients

2.1 Apply service guidelines to determine level of client contact required

2.2 Formalise communication where interests of organisation and client need to be protected

2.3 Establish regular communication within guidelines and based on client needs

3. Identify and review information

3.1 Identify and gather categories of information relevant to service provided

3.2 Monitor business environment to identify need to amend information services, and establish mechanisms to select and filter information efficiently

3.3 Determine and maintain information relevant to client requirements on an ongoing basis

Foundation Skills

This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.

Skill 

Performance Criteria 

Description 

Reading

1.1-1.3, 2.1, 3.1- 3.3

  • Identifies and interprets information from a range of sources and assesses it for compliance and relevance
  • Monitors and reviews information on a regular basis for accuracy and for its effectiveness in meeting client and organisational needs

Writing

1.1, 1.2, 1.3, 2.2, 2.3, 3.2

  • Uses a range of text types to accurately document and convey logically structured, relevant information

Oral Communication

1.1, 2.2, 3.3

  • Clearly explains detailed information using language, tone and pace appropriate to audience
  • Initiates effective spoken interactions using appropriate listening and questioning techniques to establish and identify client needs

Navigate the world of work

1.1, 1.3, 2.1, 2.3

  • Observes compliance requirements in relation to client requirements

Interact with others

1.1, 2.2, 2.3, 3.3

  • Selects and uses appropriate conventions and protocols when communicating with clients to build rapport, seek clarification or share information

Get the work done

1.1-1.3, 2.1, 2.3, 3.1-3.3

  • Accepts responsibility for planning, prioritising and sequencing tasks and workload
  • Monitors and reviews client information systems and processes to inform decisions about the need for modifications or improvements
  • Uses problem-solving processes to address client monitoring issues
  • Uses digital technologies and tools to access, store and share information

Unit Mapping Information

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNSCUS502 Monitor client requirements

FNSCUS502A Monitor client requirements

Updated to meet Standards for Training Packages

Minor edits to clarify performance criteria

Equivalent unit

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe

 

Assessment requirements

Modification History

Release 

Comments 

Release 1

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

Performance Evidence

Evidence of the ability to:

  • apply a systematic approach to collecting and analysing client information and data
  • review and monitor client records and data to determine client contact required and monitor risk
  • contact clients regularly using effective communication skills and channels, considering any special requirements and/or business needs
  • monitor effectiveness of organisational guidelines.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

  • describe financial services industry developments and trends relevant to client needs and the business
  • describe key features of industry compliance requirements for client services
  • describe the industry market position relative to the product and line of business
  • explain key requirements of organisational or industry policy regarding client information management and communication
  • explain organisational policy and procedures regarding client information management and communication.

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the customer service field of work and include access to:

  • common office equipment and consumables
  • an integrated financial software system and data.

Assessors must satisfy NVR/AQTF assessor requirements.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe