Modification History
Not applicable.
Unit Descriptor
This unit encompasses the competencies required to identify cross selling opportunities and sell the identified products or services to customers.
This unit encompasses the competencies required to identify cross selling opportunities and sell the identified products or services to customers.
Application of the Unit
This unit requires the application of comprehensive product knowledge and understanding of marketing trends to identification of products and services appropriate for a particular customer. The interaction is based on a sound understanding of the customers needs and the ability to find additional products and services provided by the organisation to satisfy those needs. It may be applied across all sectors of the financial services industry.
This unit requires the application of comprehensive product knowledge and understanding of marketing trends to identification of products and services appropriate for a particular customer. The interaction is based on a sound understanding of the customers needs and the ability to find additional products and services provided by the organisation to satisfy those needs. It may be applied across all sectors of the financial services industry.
Licensing/Regulatory Information
Not applicable.
Pre-Requisites
Not applicable.
Employability Skills Information
The required outcomes described in this unit of competency contain applicable facets of employability skills. The Employability Skills Summary for the qualification in which this unit of competency is packaged, will assist in identifying employability skills requirements.
The required outcomes described in this unit of competency contain applicable facets of employability skills. The Employability Skills Summary for the qualification in which this unit of competency is packaged, will assist in identifying employability skills requirements.
Elements and Performance Criteria Pre-Content
Elements define the essential outcomes of a unit of competency.
Performance Criteria describe the required performance needed to demonstrate achievement of the Element. Bold, italicised terms are elaborated in the Range Statement. Assessment of performance is to be consistent with the Evidence Guide.
Elements define the essential outcomes of a unit of competency.
Performance Criteria describe the required performance needed to demonstrate achievement of the Element. Bold, italicised terms are elaborated in the Range Statement. Assessment of performance is to be consistent with the Evidence Guide.
Elements and Performance Criteria
Elements and Performance Criteria |
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Element |
Performance Criteria |
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1 |
Identify opportunities for cross selling of products and services |
1.1 |
A range of communication and interpersonal skills are used to identify customer needs and establish a relationship with the customer |
1.2 |
Information is provided to the customer in response to initial enquiry |
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1.3 |
Based on understanding of customer needs, knowledge of the organisations products and services and marketing trends, further opportunities for providing the customers with additional products or services are identified |
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1.4 |
Further information about the identified products and services is accessed, if required |
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2 |
Promote sales of products and services |
2.1 |
Benefits and features of products or services are explained to the customer |
2.2 |
Product knowledge is used to match products or services to the customers needs |
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2.3 |
A number of options based on assessment of the customers needs are offered |
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2.4 |
Compliance with relevant legislation, regulations and industry codes of practice of all options developed is checked |
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3 |
Refer sales/service to appropriate area |
3.1 |
When a decision has been reached on sales of the product or the service to be provided, documentation relating to the interaction is prepared for processing |
3.2 |
If referral to another section of the organisation is required, the customer is informed of the reasons why this needs to occur |
Required Skills and Knowledge
REQUIRED KNOWLEDGE &SKILLS |
Knowledge requirements include : product and service knowledge introductory knowledge of the finance industry, business communication and business law knowledge of customer relations customer service company's manner of dealing with complaints knowledge of relevant legislation and potential/actual impact on information requested or provided sales techniques knowledge of organisation's policies and procedures in regard to customer service and sales |
Skills requirements include : communication skills interpersonal/relationship building skills negotiation skills referral skills recording skills problem solving skills selling skills (including listening, questioning, matching needs, confirming sale) |
Evidence Guide
EVIDENCE GUIDE |
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Assessment of performance requirements in the unit should be undertaken in an industry context. The Evidence Guide identifies the critical aspects, knowledge and skills to be demonstrated to confirm competency for the unit. Competency is demonstrated by performance of all stated criteria including the Range Statement applicable to the workplace. |
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Overview of assessment requirements |
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To achieve competency in this unit, a person must be able to demonstrate: ability to interact with customers, explain the organisation's products and services and provide options based on the customer's needs in line with relevant legislation, regulations and industry codes of practice ability to refer the customers to other appropriate sections of the organisation, if required |
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Critical aspects of evidence |
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Evidence required for demonstration of consistent performance : |
Competence in this unit must be assessed over a period of time in order to ensure consistency of performance over the Range Statement and contexts applicable to the work environment. |
Delivery /assessment relationship to other units : |
This unit may be assessed on its own or it may be assessed with other units that cover related skills and knowledge. Evidence is most relevant when provided through an integrated activity which combines the elements of competency for the unit, or a cluster of units of competency. |
Assessment requirements |
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Method of assessment : |
For valid and reliable assessment of this unit, evidence should be gathered through a range of methods to indicate consistent performance. |
Assessment of this unit of competence will usually include observation of processes and procedures, oral and/or written questioning on underpinning knowledge and skills and other methods as required. |
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Context of assessment : |
This unit may be assessed at work, in a simulated work environment or a combination of these two approaches. |
Resources required for assessment : |
Assessment of this unit of competence requires access to workplace document, policies and procedures, computers and other office equipment. |
Range Statement
The Range Statement relates to the unit of competency as a whole. It allows for different work environments and situations that will affect performance. The following variables 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. If bold italicised text is shown in Performance Criteria, details of the text are provided in the Range Statement. |
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Communication and interpersonal skills may include: |
listening and questioning techniques establishing rapport remembering customer details such as name and special interests empathising with customers needs |
Customer needs may include: |
personal details and financial, insurance, banking or other financial services or products customer needs also include the special needs of people from different cultural backgrounds, aged and those with a disability |
Organisations products and services may include: |
products and services includes those products and services provided by the organisation such as savings, investment, loans, travel, superannuation, insurance and other services organisation's vision and goals refers to the relationship between the selling and cross-selling of products and services and the extent to which these accord with the vision and goals of the organisation. Efforts to sell/cross-sell products further short and long term goals of the organisation product knowledge includes knowledge of the range of products as well as the features of each, such as interest rates, term, special packages |
Legislation , regulations may include: |
Consumer Consumer Credit Code Privacy Act Secrecy Laws codes of practice Competition Australian Competition and Consumer Commission (ACCC) |
Prudential Financial Institutions (FI) Code Credit Reference Association of Australia (CRAA) Electronic Funds Transfer (EFT) Code of Conduct |
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Financial Transaction Reports Act Cheques and Payment Orders Act Bills of Exchange Act |
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Documentation may include: |
application forms for opening of accounts for products and services |
Unit Sector(s)
Not applicable.
Relationship to other units
This unit replaces FNSICSAM301A.
This unit replaces FNSICSAM301A.