Assessor Resource

FNSBNK402A
Align banking products with the needs of small business customers

Assessment tool

Version 1.0
Issue Date: May 2024


The unit can be applied in all types of banking and other financial services institutions.

This unit describes the performance outcomes, skills and knowledge required to diagnose small business customer needs and wants and identify, match and communicate banking products and services to reflect these requirements.

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

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)

Employability Skills

This unit contains employability skills.



Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

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:

analyse and segment the small business market and identify effective and commercially successful products to meet the varying needs of the market segments

construct effective communications campaigns and monitor their success

meet key performance indicators for small business engagement and business growth.

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

access to organisational policies and practices for providing services to small business customers.

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

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

Required skills

well-developed communication skills to:

determine and confirm customer requirements, using questioning and active listening as required

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

well-developed interpersonal skills to establish rapport with customers

research and analysis for:

accessing, interpreting and managing product information

conducting a market analysis

problem solving skills to identify any product or service issues that have the potential to impact on the small business customerservices and develop options to resolve these issues when they arise

literacy skills for analysing information and products to ensure appropriateness to customer needs, currency and accuracy

IT skills for accessing and using appropriate software such as databases and using internet information

organisational and time management skills to sequence tasks, meet timelines and arrange meetings

Required knowledge

customer motivations, needs and wants

financial products and services and their benefits and applications

legislation and regulation relevant to the area including:

Financial Services Reform Act (FSRA)

Privacy Act

company law

Trade Practices Act

market research techniques

organisational systems, policies, procedures and protocols

principles of small business engagement and portfolio management

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.

A segmentation analysis of the small business market may be based on:

geographic location

growth of business

industry or sector

size of business.

Small business segment environment may reflect:

availability and cost of inputs

depth and strength of competition in the market place

environmental conditions and changes

exchange rate changes

purchasing power and control of customers

regulatory changes

strength and influence of suppliers

technology changes

the lifecycle of the industry.

Processes to track customer segment needs and wants include:

customer satisfaction surveys

feedback from frontline customer service staff

long term tracking studies

qualitative market research such as focus groups

quantitative market research.

Customer usage patterns may be defined by:

number of services used per customer such as:

loans

online banking

night safe

merchant EFTPOS

number of transactions per month per customer

shift in type of services such as:

to online banking

electronic payments versus cheques.

Product and services for small businesses may include:

access to night-safes

business credit cards

business leases

business loans

commercial bills

hire purchase

interest bearing accounts

novated leases

off-set business mortgages

overdrafts

savings and cash management accounts

statutory trust accounts

superannuation.

Communication strategies and vehicles used with small business customers may include:

branch or regionally based initiatives

mail-outs

media offers

outbound telemarketing

response to inbound calls resulting from a marketing offer.

Performance indicators may include:

growth of new small business customers

increase in number of products and services used per small business customer

level of recall of products or services by customers

level of up-selling or cross-selling

retention of small business customers

sales of products achieved.

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
A segmentation analysisof the small business market is conducted and the operating environments of the small business segments identified and analysed 
The impact of the small business segment environment on their current and future banking needs is identified and analysed 
Needs and wants of small business customer are tracked and monitored 
The results of marketing and communications campaigns targeted to small businesses are analysed to identify successful strategies 
Current customer usage patterns of the institution's small business customer categories are analysed 
Product and services used by segments of small business customers are identified and their benefits analysed 
New products and services, tailored to small business customer segments, are designed and their implementation negotiated in accordance with the institution's business rules and processes 
Preferred and optimum communication strategies and vehicles to influence small business segments are identified and analysed 
Communications campaigns to match products and services to identified small business segments are planned and implemented 
Strategies to support routine and ongoing communications with small business segments are planned and monitored 
Customer service staff are briefed and coached in a timely and effective manner on the purpose of communication campaigns 
Performance indicators are identified, communicated and monitored with reports against targets using standard protocols and procedures analysed 
Exception or feedback reports are analysed and processes put in place to rectify faults or capitalise on opportunities 
Strategies to support the continuous improvement of small business products and services and communications are developed, implemented and monitored 

Forms

Assessment Cover Sheet

FNSBNK402A - Align banking products with the needs of small business customers
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

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Assessment Record Sheet

FNSBNK402A - Align banking products with the needs of small business customers

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: