Unit of competency details

Unit descriptor 

This unit describes the performance outcomes, skills and knowledge required to apply customer service skills and process financial services transactions in non-financial services organisations that act as an agency, particularly in rural and remote areas.

No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.

Application of the unit 

This unit may apply to job roles in a range of financial services organisations or those that provide agency services for financial services organisations including in pharmacies and post offices.

Prerequisite units 

Employability skills 

This unit contains employability skills.

Elements describe the essential outcomes of a unit of competency.

Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the required skills and knowledge section and the range statement. Assessment of performance is to be consistent with the evidence guide.

ELEMENT 

PERFORMANCE CRITERIA 

1. Represent the financial services institution

1.1. The role and purpose of the agency  in providing services on behalf of the financial services institution is recognised and confirmed

1.2. Knowledge of the relevant range of products and services  is developed and maintained

1.3. Documentation about the financial services institution and its products and services is effectively maintained to ensure its accessibility, accuracy, currency and quality

1.4. Relevant contact people, hotline phone numbers and websites of the financial services institution are known and accessed to provide support and clarify service queries

2. Identify customer financial service needs

2.1. Timely and courteous responses are provided to customer requests within the limits of the agency authorisation to offer advice 

2.2. Requests for information, advice, products or services that fall outside the agency level of authorisation or knowledge are referred to the financial services institution for resolution

2.3. Help and assistance is provided to customers to ensure the full and accurate completion of documentation or transaction forms

3. Process customer transactions

3.1. Information or forms provided by customers are checked for accuracy and completeness 

3.2. Transactions  are completed in a timely and accurate manner using the protocols and processes of the financial services institution

3.3. Accurate customer account and transaction details are maintained

3.4. Accurate reconciliation of monies received with transaction records is conducted routinely

3.5. Customer queries or complaints are responded to in a courteous and timely manner using the required protocols and processes

3.6. Customer queries or complaints that are outside the agency's level of authorisation or knowledge are referred to the financial services institution for resolution

REQUIRED SKILLS AND KNOWLEDGE 

This section describes the skills and knowledge required for this unit.

Required skills 

• communication skills to:

• determine and confirm customer requirements, using questioning and active listening as required
• sell products and services within the scope of the job role
• liaise with others, share information, listen and understand
• use language and concepts appropriate to cultural differences

• numeracy and IT skills to:

• make basic financial transaction calculations
• access and use computer-based transaction systems
• access and use internet information

• problem solving skills to address customer service issues
• literacy skills to read documents and complete forms and transaction records accurately
• organisational skills, including the ability to plan and sequence work
• teamwork skills to work cooperatively with others

Required knowledge 

• customer service principles and practice
• organisation policies, procedures and protocols
• scope of capacity to offer advice on financial products and services and their benefits and applications within the requirements of the Financial Services Reform Act (FSRA)

EVIDENCE GUIDE 

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Overview of assessment 

Critical aspects for assessment and evidence required to demonstrate competency in this unit 

Evidence of the ability to:

• maintain and apply relevant and up to date knowledge of the products and services of the retail agency and provide accurate information and processing of transactions including the accurate handling of monies
• apply effective customer service skills in dealing with customers of the retail agency
• identify and respond to customer queries and complaints within appropriate scope of authority and in accordance with appropriate legislative requirements.

Context of and specific resources for assessment 

Assessment must ensure:

• competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant financial services or related workplace or a closely simulated work environment
• access to and the use of a range of common office equipment, technology, software and consumables
• access to relevant agency transaction systems and data.

Method of assessment 

A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:

• evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency
• observing processes and procedures in workplaces
• verbal or written questioning on underpinning knowledge and skills
• accessing and validating third party reports.

Guidance information for assessment 

RANGE STATEMENT 

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that 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) may also be included.

Agency  offering financial service transactions and service include:

• pharmacies
• post offices
• stock and station agencies.

Products and services  may include:

• deposits and withdrawals from savings accounts
• distribution of application forms
• payment of bills
• payment of credit card balances
• payment of insurance or other financial product invoice.

Authorisation to offer advice  to customers must comply with:

• Anti-Money Laundering and Counter Terrorism Financing Acts
• Cheques and Payment Orders Act
• Financial Transaction Reports Act.

Accuracy and completeness  of documentation includes checking:

• authenticity of signatures
• that all forms are completed accurately and legibly
• appropriate forms are used for the transaction.

Transactions  may be both manual and electronic and include:

• accurate processing of transactions into system according to policy
• clearance of terminal and tender transferred according to procedure
• completion of records for transaction errors according to policy
• initiation of transaction by opening terminal.

Unit sector 

Financial retail services

Competency field 

Co-requisite units