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. Access information needed to determine fit between financial product and customer

1.1 Gather and assess information on customer profile and requirements, characteristics, financial status, timelines and other needs

1.2 Consider and, if necessary, research most appropriate products and services used or provided by organisation based on customer stated requirements in terms of features, benefits, terms and conditions, and other factors

2. Determine most suitable options to meet customer requirements

2.1 Determine most suitable option, or number of options, for discussion and recommendation with customer

2.2 Establish and document customer negotiation periods in line with organisational policy and relevant legislative requirements

2.3 Discuss options with manager or other appropriate personnel, if necessary

3. Present selected options to customer

3.1 Present options to customer and explain all features, benefits, negotiation periods, and terms and conditions

3.2 Provide customer with further information if requested and answer all questions

3.3 Provide customer with all support needed to clarify information presented

3.4 Seek additional information where relevant to determine whether there are other needs that could be met by organisation

Skill 

Performance Criteria 

Description 

Reading

1.1, 1.2

• Researches and analyses detailed textual information from a range of sources to identify key information and determine requirements and options

Writing

2.1-2.3, 3.1-3.4

• Structures and sequences information logically to present customised recommendations and options using appropriate document formats
• Uses clear and concise language, incorporating correct spelling and grammar and correct terminology at a level appropriate for the audience

Oral Communication

2.3, 3.1-3.4

• Uses vocabulary, pace, intonation and gestures to present information and encourage engagement with a range of clients
• Uses listening and questioning techniques to establish and confirm understanding

Numeracy

1.1, 1.2, 2.1, 2.3, 3.1, 3.2

• Uses mathematical equations to perform calculations and comparisons of financial and numerical information

Navigate the world of work

2.2, 2.3

• Understands and follows legislative requirements and workplace policies, procedures and protocols when undertaking own work
• Recognises the limitations of own knowledge and skills and, where necessary, seeks advice from other more experienced work colleagues

Interact with others

1.1, 1.2, 2.3, 3.1-3.4

• Selects and uses appropriate conventions and protocols when communicating with colleagues, clients and other stakeholders to identify, extract, clarify or present information
• Involves others in collaborative discussions using effective interpersonal skills to achieve agreed outcomes

Get the work done

1.1, 1.2, 2.1, 2.2

• Plans, organises and implements tasks in accordance with legislative responsibilities to achieve organisational and customer objectives
• Systematically gathers and analyses all relevant information and evaluates options to make appropriate recommendations
• Uses a range of digital technologies to effectively access, filter, organise, present and store information

Code and title 

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNSSAM603 Tailor financial products to meet customer needs

FNSSAM603A Tailor financial products to meet customer needs

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.