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Unit of competency details

FNSMCA401 - Develop and document case recommendations (Release 1)

Summary

Usage recommendation:
Superseded
Mapping:
MappingNotesDate
Supersedes and is equivalent to FNSMCA401A - Develop and document case recommendationsUpdated to meet Standards for Training Packages. Minor rewording to clarify intent of performance criteria. 24/Mar/2015
Is superseded by FNSMCA411 - Evaluate debt collection actions and develop recommendations 01/Feb/2021

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

Companion volumes:
Unit of competency Assessment requirements

Delivery:
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Training packages that include this unit

Qualifications that include this unit

Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 100705 Written Communication 

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 100705 Written Communication 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 develop, compile and document recommendations from debt collection cases.

It applies to individuals who are required to develop and document case recommendations as part of their role as a mercantile agent in debt management and collection.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.

Unit Sector

Mercantile agents

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. Assemble information

1.1 Gather and review debt collection case information for relevance to format of report required by client

1.2 Check debt collection case information for accuracy, relevance and compliance with legislative requirements

1.3 Collate appropriate debt collection case information into logical and coherent outcome

2. Compile report and recommendations

2.1 Determine recommendation for further action, or no action, based on outcome, taking into account requirements and expectations of client

2.2 Produce report with recommendations in format instructed by client

3. Verify recommendations with client

3.1 Present and discuss contents of report with client, clarifying any of client's queries and issues arising from report

3.2 Finalise and provide report to client when recommendations are agreed on

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, 1.2, 2.1
  • Interprets, analyses and consolidates information from a variety of sources to determine and confirm relevance

Writing

2.2, 3.2
  • Drafts reports and letters in appropriate formats which include appropriate recommendations for action and outcomes for the client’s consideration

Oral Communication

1.1, 3.1, 3.2
  • Uses clear and appropriate language to present or explain recommendations
  • Uses careful listening and questioning techniques to clarify understanding and elicit all relevant information

Navigate the world of work

1.2
  • Takes responsibility for complying with legal obligations, industry and organisational codes of practice, and ethical principles

Interact with others

3.1, 3.2
  • Selects the appropriate form, channel and mode of communication to liaise with others, gain agreement and share information

Get the work done

1.1, 1.2, 2.1, 2.2, 3.2
  • Adopts efficient and effective organisational and time management skills to sequence tasks, meet timelines and arrange meetings
  • Clearly and thoroughly analyses and synthesises information to compile reports and make decisions about appropriate recommendations for clients
  • Uses formal processes to monitor implementation of solutions, reflect on outcomes and finalise documentation
  • Uses digitally based technologies and software packages to complete work requirements

Unit Mapping Information

Code and title 

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNSMCA401 Develop and document case recommendations

FNSMCA401A Develop and document case recommendations

Updated to meet Standards for Training Packages.

Minor rewording to clarify intent of 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:

  • assemble appropriate debt collection case information into a format required by clients, with outcomes identified
  • compile reports that effectively communicate recommendations
  • interpret and comply with legislative requirements, industry regulation and organisational policy and procedures when developing and documenting case recommendations
  • present and explain report and verify recommendations with clients to gain their agreement.

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 key requirements of relevant state or territory and Commonwealth legislation relating to documenting debt collection case information and developing recommendations
  • outline organisational policy and procedures and legal obligations underpinning credit management functions and their relationship to mercantile agents
  • describe the different format of reports
  • role of the Australian Securities and Investments Commission (ASIC) in relation to:
  • businesses
  • principles of limited liability
  • subpoenas
  • insolvency and bankruptcy
  • principles of association under the Associations Reform Incorporation Act
  • principles and obligations of trusts
  • outline the role, procedures and relevant documentation of the various relevant court jurisdictions and appeals procedures
  • explain securities principles:
  • factoring
  • guarantees
  • indemnity
  • securities over property
  • retention
  • liens.

Assessment Conditions

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

  • office equipment, technology, software and consumables
  • relevant legislation and industry codes of practice in the mercantile agent field.

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

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