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. Establish needs of parties

1.1 Identify desires, needs, requirements and outcomes of all parties using open and professional communication strategies

1.2 Identify and document potential issues and problems, and successful outcomes for organisation and client

1.3 Identify, analyse and discuss strategies and options for achieving outcomes with relevant parties

1.4 Identify and evaluate risks and contingency strategies

1.5 Establish information, facts and issues relevant to situation, and obtain expert advice from third parties or other professionals where required prior to negotiations

2. Negotiate to achieve agreed outcome

2.1 Obtain agreement on strategies and options to achieve goals and complete processes, and communicate it professionally to relevant parties

2.2 Review strategies and options for compliance with contractual, legislative, regulatory and professional requirements, in accordance with organisational policy and procedures

2.3 Obtain, confirm and correctly document agreement by all parties

3. Identify and document causes of disputes

3.1 Identify and analyse issues or disputes promptly and establish position of relevant parties

3.2 Use professional communication techniques that demonstrate respect and empathy for other viewpoints and positions to establish confidence of relevant parties

3.3 Document disputes and issues promptly and accurately, and verify with all relevant parties

4. Implement and manage strategies to resolve disputes

4.1 Identify, evaluate and implement strategies and options which are most likely to achieve favourable outcomes for all relevant parties

4.2 Implement proceedings promptly to settle dispute in accordance with legislative, regulatory, professional and organisational requirements

4.3 Manage dispute to optimise likelihood of favourable outcome for all parties in line with organisational policy and goals

4.4 Ensure procedures to resolve dispute are in accordance with organisational policy and procedures, and legislative, regulatory and professional requirements

4.5 Document accurate, thorough and accessible records of all aspects of dispute for follow up and future reference

4.6 Contact relevant parties to identify any follow up action required to ensure client satisfaction

Skill 

Performance Criteria 

Description 

Reading

1.5, 2.2, 2.3, 3.3, 4.1, 4.2, 4.4

• Reviews information from stakeholders and other sources and assesses it to develop strategies that comply with organisational, regulatory and legislative requirements

Writing

1.1-1.5, 2.1, 2.3, 3.1, 3.2, 3.3, 4.5, 4.6

• Records discussions of analysis and proposed solutions to a range of issues
• Documents agreements correctly using a range of text types
• Produces comprehensive records of evidence and dispute outcomes, including any further actions required

Oral Communication

1.1-1.5, 2.1, 2.3, 3.1, 3.2, 4.6

• Uses clear and direct language to present information that is suitable for the audience and context
• Uses active listening and questioning techniques to encourage discussion, and confirm and clarify understanding

Numeracy

1.4, 1.5, 2.2

• Identifies and applies financial risks, systems and regulatory requirements to negotiation processes

Navigate the world of work

1.2-1.5, 2.2, 4.2, 4.3, 4.4

• Develops and implements strategies to ensure organisational policies, procedures and regulatory requirements are met

Interact with others

1.1-1.5, 2.1, 2.3, 3.1, 3.2, 3.3, 4.6

• Identifies and uses appropriate conventions and protocols when communicating with clients, staff and external stakeholders
• Implements strategies to build rapport and establish a supportive environment with a diverse range of clients
• Plays a lead role in situations requiring effective collaborative skills, demonstrating high level negotiation skills and ability to resolve disputes

Get the work done

1.1-1.5, 2.3, 3.3, 4.1, 4.2, 4.5, 4.6

• Takes responsibility for planning, sequencing and prioritising complex tasks and own workload to achieve organisational outcomes
• Addresses complex problems involving multiple variables, using formal analytical and lateral thinking techniques, experience and knowledge to formulate recommendations
• Uses the main features and functions of digital tools to complete work tasks and access information

Code and title 

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNSORG601 Negotiate to achieve goals and manage disputes

FNSORG601A Negotiate to achieve goals and manage disputes

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.