Unit of competency details

Unit descriptor 

This unit describes the performance outcomes, skills and knowledge required to identify cross-selling opportunities and sell the identified products or services to customers while providing other services.

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

Application of the unit 

This unit may be applied across all sectors of the financial services industry.

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. Identify opportunities for cross-selling of products and services

1.1. A range of communication and interpersonal skills  are used to respond to an enquiry, identify customer needs  and establish a relationship with the customer

1.2. Based on understanding of customer needs, further opportunities for providing the customers with additional products or services are identified with further information about the identified products and services accessed if required

2. Promote sales of products and services

2.1. Benefits and features of additional products or services are explained to the customer clearly and accurately

2.2. Product knowledge is used to match organisation products or services  to the assessed customers' needs and a number of options offered

2.3. Compliance with relevant legislation , regulations  and industry codes of practice of all options developed is checked

3. Refer sales/service to appropriate area

3.1. When a decision has been reached on sale of the product or service to be provided, documentation  relating to the interaction is prepared for processing

3.2. Customer is informed of the reasons why referral to other personnel is required if this needs to occur

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
• refer customers and liaise with others, share information, listen and understand
• use language and concepts appropriate to cultural differences

• IT skills for accessing and using appropriate software such as spreadsheets and databases and using internet information
• literacy skills for analysing information and products to ensure appropriateness to customer needs, currency and accuracy
• interpersonal skills to establish rapport with customers and to liaise with other team members
• problem solving skills to address customer product or service issues
• teamwork skills
• organisational skills, including the ability to plan and sequence work

Required knowledge 

• customer relation building techniques
• financial products and services offered by or through an organisation
• finance industry and organisational policies and procedures
• organisational complaints procedures
• product knowledge including:

• the range of products
• features of each:

• interest rates
• term
• special packages

• relevant legislation and potential/actual impact on information requested or provided
• selling techniques

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:

• interact with customers and identify cross-selling opportunities
• clearly explain additional products and services that may be beneficial to customers, and provide options based on the customer's needs in line with relevant legislation, regulations and industry codes of practice
• refer customers to other appropriate sections of the organisation, if required.

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 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 financial services product information.

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 or role plays
• verbal or written questioning on underpinning knowledge and skills
• setting and reviewing workplace projects and business simulations or scenarios
• 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.

Communication and interpersonal skills  may include:

• empathising with customers needs
• establishing rapport
• listening and questioning techniques
• remembering customer details such as name and special interests.

Customer needs  may include:

• special needs of people from different cultural backgrounds, aged and those with a disability in relation to additional products and services
• financial, insurance, banking or other financial services or products.

Organisation products and services  may include:

• those provided by the organisation such as:

• savings
• investment
• loans
• travel
• superannuation
• insurance
• other services.

Legislation , regulations  may include:

• Australian Competition and Consumer Commission (ACCC)
• consumer:

• Consumer Credit Code
• Privacy Act
• secrecy laws
• codes of practice

• prudential:

• Bills of Exchange Act
• Cheques and Payment Orders Act
• Credit Reference Association of Australia (CRAA)
• Electronic Funds Transfer (EFT) Code of Conduct
• Financial Institutions (FI) Code
• Financial Transaction Reports Act.

Documentation  may include:

• application forms for opening accounts for products and services.

Unit sector 

Sales and marketing

Competency field 

Co-requisite units