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.
ELEMENT | PERFORMANCE CRITERIA |
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Check and verify application details | 1.1 Gather information required to support application in accordance with credit policy and record using correct organisational policy and procedures 1.2 Verify information provided by applicant and obtain verification from other sources for accuracy and compliance with relevant legislative requirements, industry regulations and organisational guidelines |
2. Submit assessment and decision | 2.1 Conduct a credit assessment and apply credit policy to inform applicant of the decision to reject or accept application 2.2 Refer decisions to advance funds or extend credit that falls outside officer’s approval, or limits of authority, to relevant approving personnel 2.3 Prepare recommendations to accept or reject applications to provide credit or advance funds and identify any required security 2.4 Forward recommendations to relevant personnel promptly in accordance with organisational procedures |
3. Maintain application records and complete necessary documentation | 3.1 Maintain an up-to-date records system according to legislative requirements and timeframes, and organisational policy and procedures 3.2 Monitor and record file movements 3.3 Produce accurate, clear and concise documentation in accordance with industry, organisational and legislative requirements and timeframes |
Evidence of the ability to:
check the application details thoroughly to ensure accuracy
assess applications following legislative requirements, industry codes of practice and organisational credit policy and procedures
use relevant data entry, office equipment and software to accurately process applications.
Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.
To complete the unit requirements safely and effectively, the individual must:
list the features of credit products and their application requirements
identify ways of obtaining and checking relevant information from applicants
explain key features of organisational policy and procedures that relate to credit assessments, security and customer service
explain the key purpose of relevant credit legislation, statutory requirements and codes of practice, covering:
consumer credit
personal property securities
privacy
explain types of security.
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the credit management field of work and include access to:
common office equipment, technology and consumables
credit product information
relevant software systems and data
organisational policy and procedures.
Assessors must satisfy NVR/AQTF assessor requirements.