Assessment Requirements for FNSIBK515 Monitor broking client requirements and establish loss control programs

Release: 1

Assessment Requirements for FNSIBK515 Monitor broking client requirements and establish loss control programs

Modification History

Release	Comments
Release 1	This version first released with FNS Financial Services Training Package Version 1.0.

Performance Evidence

Evidence of the ability to:

assess and record current and new risks to the portfolio by applying a systematic, methodological approach to monitoring situations in the context of product market developments and industry trends

comply with broking and communication protocols and practices

analyse loss experience of client and make recommendations for appropriate action to cover identified losses

analyse data relating to loss incidents to determine loss trends and make recommendations to improve loss controls

develop a service level agreement (SLA) suitable for broking clients requiring loss control programs.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

explain the analysis and evaluation process used to identify potential changes to client portfolios

provide a detailed analysis of loss control techniques applied to managing client risks

outline the application of insurance survey requirements to monitor the requirements of clients with potential risk changes, including those relating to workplace safety

explain approach to analysing policy wordings in relation to client losses

evaluate the impact of industry or company compliance requirements on dealing with client losses

outline company policy, procedures and authorities that are applied in loss analysis and reporting.

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the insurance broking field of work and include access to:

common office equipment, technology, software and consumables

organisational records

organisational policy and procedures.

Assessor must satisfy NVR/AQTF assessor requirements.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe