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. Evaluate status of claims portfolio

1.1 Identify organisation’s expectations for claims portfolio performance

1.2 Analyse and evaluate claims portfolio data and information to identify trends and determine status of portfolio

1.3 Research industry to determine benchmarks for claims portfolios

2. Recommend changes to claims portfolio, policy and/or procedures, as required

2.1 Identify changes to portfolio, policy and procedures to improve portfolio performance and minimise claims losses

2.2 Document all changes and update records in compliance with organisational policy and procedures

3. Prepare status report

3.1 Prepare accurate and timely claims portfolio reports to document status and trends, where appropriate

3.2 Make recommendations on improvements to claims portfolio

4. Communicate findings to key stakeholders

4.1 Communicate promptly information which impacts on various portfolios to stakeholders according to organisational procedures

5. Review status report findings

5.1 Use feedback from stakeholders to review key findings and recommendations

5.2 Document all feedback and subsequent amendments to status report and record according to organisational policy and procedures

Skill 

Performance Criteria 

Description 

Reading

1.1-1.3, 2.1

• Critically analyses documentation from a variety of sources and records and consolidates information to determine requirements, and identify trends and anomalies
• Proofreads document to identify errors or inconsistencies

Writing

2.2, 3.1, 3.2, 4.1, 5.1, 5.2

• Accurately records information and prepares correspondence and documentation using clear language and organisational formats and protocols
• Composes and edits documents to ensure accuracy, consistency and clarity of meaning

Oral Communication

4.1

• Interacts effectively in verbal exchanges, using active listening and questioning to convey and clarify information

Navigate the world of work

1.1, 2.1, 2.2, 3.1, 3.2, 4.1, 5.1

• Identifies and resolves key business issues, processes and practices that may have legal implications
• Seeks to improve policies and procedures to better meet organisational goals
• Follows policies, procedures and legislative requirements and identifies organisational implications of new legislation or regulation

Interact with others

4.1

• Implements strategies for a diverse range of colleagues and clients to build rapport and foster strong relationships

Get the work done

1.2, 1.3, 2.1, 3.1, 5.1

• Plans and sequences complex tasks and workload, negotiating key aspects with others and taking into account capabilities, efficiencies and effectiveness
• Applies systematic and analytical decision-making processes for complex and non-routine situations
• Uses digital technologies to access, enter, check and store information required to complete work tasks

Code and title 

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNSISV515 Evaluate and report on status of claims portfolio

FNSISV515A Evaluate and report on status of claims portfolio

Updated to meet Standards for Training Packages.

Minor changes to clarify intent of performance criteria.

Equivalent unit

Release 

Comments 

Release 1

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