FNSFMB504 Implement complex loan structures

Release: 1

FNSFMB504 Implement complex loan structures

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 establish actions, timings and priorities needed to implement complex loans and supervise the implementation process, and applies to finance brokers working with clients with complex needs.

It applies to individuals who use specialised knowledge and well developed organisational skills to coordinate the implementation of complex financial processes.

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

Finance/mortgage broking

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. Organise implementation actions	1.1 Review special or complex features of client situation for implementation implications including high asset, income or expenditure requirements, complex taxation, nature and forms of securities to be taken and other legal or complex issues 1.2 Prioritise implementation actions, plan timing for each action and confirm activities to be consistent with client needs and specifications 1.3 Explain implementation actions required by client clearly, obtain written agreement to actions and establish implementation records 1.4 Implement actions including timing and priority to maximise advantage for client
2. Establish appropriate procedures for implementation	2.1 Identify and brief personnel to implement each action for loan structure and complete internal and external documentation requirements 2.2 Coordinate implementation actions that depend on or involve actions by other professionals 2.3 Establish monitoring procedures for critical implementation timing and priorities
3. Undertake and/or supervise implementation	3.1 Brief client on actions to be undertaken and provide assistance where needed 3.2 Issue instructions to internal and external personnel as per loan structure 3.3 Maintain consultation and monitoring with other professionals where joint implementation action is required, and check and follow up on lodgement of documentation to ensure plan timings are met 3.4 Obtain and process fees and charges according to organisational and legislative requirements 3.5 Debrief client post-implementation and address any concerns

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	Reviews information from a range of sources and interprets key aspects to determine implementation actions
Writing	1.3, 2.1, 3.1, 3.2, 3.3, 3.5	Prepares correspondence and documentation using clear and unambiguous language to convey complex information appropriate for audience and purpose
Oral Communication	1.3, 2.1, 3.1, 3.2, 3.3, 3.5	Uses language, tone and pace appropriate to audience and purpose when issuing instructions and explaining information Uses active listening and questioning skills in verbal exchanges to clarify information and build relationships
Numeracy	1.1, 1.3, 3.2, 3.4	Interprets numerical and financial information to determine required actions, timings and sequences Performs mathematical equations to check calculations
Navigate the world of work	1.1, 3.4	Recognises and applies legislative requirements and workplace protocols, and meets expectations associated with role
Interact with others	1.3, 2.1, 3.1, 3.2, 3.3, 3.5	Identifies the information requirements and selects the appropriate communication format when responding to routine and non-routine exchanges Recognises the importance of building rapport to establish and maintain effective working relationships Collaborates with others to achieve joint and desired outcomes Adapts personal communication style to show respect for the values, beliefs and cultural expectations of others
Get the work done	1.2-1.4, 2.1, 2.2, 2.3, 3.2, 3.4	Organises, plans and sequences own workload, and schedules work activities of others Uses digital technologies and systems for accessing information and developing, implementing and monitoring plans

Unit Mapping Information

Code and title current version	Code and title previous version	Comments	Equivalence status
FNSFMB504 Implement complex loan structures	FNSFMB504A Implement complex loan structures	Updated to meet Standards for Training Packages Minor edits 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