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. Contribute to identification of customer segments

1.1 Analyse and evaluate criteria for identification of customers in specialist premium customer segments

1.2 Access and update databases to ensure availability of consistent and accurate information to support quality customer relationship management

1.3 Identify attributes, service needs and wants of premium customer segments as a basis for tailoring communications and services

1.4 Contribute to development of a service strategy for premium customer segments

2. Manage customer relationships with premium or high value individuals

2.1 Administer portfolio of premium customers using business rules and processes of financial services organisation

2.2 Identify and analyse characteristics, benefits and costs of range of products and services relevant to premium customer segments and deliver service to the standard specified for customer segments

2.3 Develop and deliver reward and recognition strategies to premium customer segments to build customer loyalty

3. Provide high level and tailored service

3.1 Establish regular contact with customers in portfolio to determine their ongoing needs and service expectations

3.2 Analyse current usage patterns and identify and document effective service and product options

3.3 Identify, model and sell optimum product and service solutions to meet customer needs

3.4 Coordinate service delivery to premium customers by other departments or groups across the organisation

3.5 Research and address concerns or complaints about service or products on behalf of customers, including coordination of responses across all departments and groups

4. Evaluate and report outcomes

4.1 Produce reports against targets using standards, protocols and procedures, and analyse and rectify problems with exception or feedback reports

4.2 Review product and service offering targeted to premium customer segments and recommend solutions for improvement to management

4.3 Maintain customer database on a regular basis to improve management of premium customer segments

Skill 

Performance Criteria 

Description 

Reading

1.1, 1.3, 2.1, 2.2, 3.2, 3.3, 3.5, 4.1, 4.2

• Extracts and interprets client financial and personal information from a range of sources and assesses it for relevance and compliance
• Analyses product information, service performance, data feedback and technical reports to identify issues and improvement opportunities

Writing

1.1-1.4, 2.1-2.3, 3.1-3.5, 4.1, 4.2

• Prepares a range of documentation according to organisational formats using logical structure, clear language, and correct grammar, spelling and terminology

Oral Communication

1.3, 2.3, 3.1, 3.5, 4.2

• Participates in verbal exchanges using questioning and active listening techniques to elicit information and confirm understanding
• Presents information structuring tone, pace and content appropriate to audience and purpose

Numeracy

2.1, 2.2

• Uses financial systems, interprets detailed financial texts and extracts relevant information

Navigate the world of work

1.4, 2.1, 2.2, 4.1

• Takes responsibility for establishing and implementing strategies and processes that comply with organisational requirements

Interact with others

1.3, 1.4, 2.3, 3.1, 3.3, 3.4, 3.5, 4.2

• Collaborates and cooperates with others to achieve joint outcomes
• Establishes and uses appropriate conventions and protocols when communicating with stakeholders about premium customer service provision

Get the work done

1.1–1.4, 2.1-2.3, 3.1-3.4, 4.1-4.3

• Organises, plans and sequences own workload and coordinates work activities of others
• Systematically gathers and analyses all relevant information and evaluates options to make decisions about service provision
• Evaluates effectiveness of premium customer service systems and processes to inform decisions on how to implement improvements
• Uses analytical problem-solving skills to address premium customer service issues
• Uses digital technologies and tools to access, store and share information

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNSCUS504 Manage premium customer relationships

FNSCUS504A Manage premium customer relationships

Updated to meet Standards for Training Packages

Equivalent unit

Release 

Comments 

Release 1

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