Assessor Resource

FNSBNK501A
Manage banking and service strategy for small business customers

Assessment tool

Version 1.0
Issue Date: May 2024


The unit applies to the management of customer service teams in a range of financial services institutions.

This unit describes the performance outcomes, skills and knowledge required to manage a team of customer service officers offering tailored services to small business customers and includes establishing and monitoring performance measures, high level problem solving, opportunity seeking and reporting.

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:

effectively manage a team of small business customer service officers

develop, maintain and apply understanding of the small business market segment

undertake high level planning and human resource development

communicate effectively and apply appropriate problem solving skills.

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, procedures and process documentation.

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

evaluating samples of work

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

lead and coach staff

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

well-developed interpersonal skills to establish rapport with and between team members

well-developed human resource management and leadership skillsproblem solving skills to identify any 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

developing sales campaign material

producing written reports and team guidance material

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

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

creative skills for developing strategies to motivate customer service teams

Required knowledge

characteristics of 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)

company law

Trade Practices Act

organisational systems, policies, procedures and protocols

principles of business management

principles of human resource 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.

The service needs and wants of the business customer segment may include:

service needs:

'hotline' service providing direct access to a known staff member

coordinated and single point of delivery

cost effective service delivery that maximises the performance of the business

reduced account management costs across a broad range of products

selection of appropriate and effective products

streamlining service delivery

service wants:

privileged access to services

to be valued as a special customer - rewards and recognition

to have unique needs met.

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:

to online banking

electronic payments versus cheques.

Product and service options 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.

Campaigns conducted 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.

Service standards may include:

number of contacts to be initiated with identified customers per:

month

quarter

year

response times for resolution of customer complaints

response times to queries received, by type of query

use of scripted customer greetings.

Portfolios of small business customers may be determined by:

geographic location

industry

net-value.

Effective communication includes:

informal communications:

in person

telephone

email

memo

performance appraisal and review meetings

presentations

scheduled staff meetings

training and professional development sessions

written communication

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
The attributes, service needs and wants of small business customers are identified as a basis for tailoring communications and services 
Current usage patterns of the institution's small business customers are analysed and product and service options for small business customers identified 
New products and services, tailored to small business customers, are designed and their implementation negotiated in accordance with the institution's business rules and processes 
Campaigns targeted to the small business portfolio are identified and planned in a manner which meets the institution's standards and timeframes 
Reward and recognition strategies to build customer loyalty are developed and the implementation managed 
Team and individual roles and responsibilities are developed and communicated effectively following appropriate consultations and in line with established processes and protocols of the organisation 
Team and individual goals and plans are developed and communicated effectively following appropriate consultations and in line with the established processes and protocols of the organisation 
Service standards and performance indicators are established in order to manage and support the performance of the customer service teams and their portfolios of customers 
Performance of staff within the customer service teams is monitored and feedback provided as part of the performance management processes of the institution 
Processes to ensure effective communication with and within the small business customer service teams are identified, implemented and monitored 
Processes to resolve customer complaints are planned, implemented and monitored 
Staff are actively encouraged to participate in and assume responsibility for team performance 
High standards of personal performance, the demonstration of respect for team members and open communications are modelled with staff provided the opportunity and support to identify and resolve problems 
Feedback is provided to staff to recognise effort and success and Information, advice and coaching provided as required and in a timely and effective manner 
Strategies to support the continuous improvement of small business customer services teams are developed, implemented and monitored 
Reports against targets using standards protocols and procedures are made with exception or feedback reports analysed and processes put in place to rectify faults or capitalise on opportunities 
Product and service offering targeted to the small business customer segment are reviewed and solutions for improvement are made in accordance with the institution's business rules and processes 

Forms

Assessment Cover Sheet

FNSBNK501A - Manage banking and service strategy for 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

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:

Assessment Record Sheet

FNSBNK501A - Manage banking and service strategy for 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: