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. Explain arrangement options to clients | 1.1 Identify different types of arrangements that may be offered to clients 1.2 Advise clients of policy and procedures that should be followed in relation to different types of products 1.3 Assess clients’ financial positions from information provided and advantages and disadvantages of various debt assignment arrangements 1.4 Advise clients on legal assignment of debt that relates to each type of arrangement |
2. Advise clients on appropriate arrangements | 2.1 Provide information on appropriate arrangements to clients in accordance with legislative requirements 2.2 Establish arrangements, including all terms and conditions, with clients by completing relevant documentation |
3. Manage relationship between client and factor or invoice discounter | 3.1 Advise clients how the relationship will proceed with all participants involved in the arrangements 3.2 Establish ongoing monitoring and review procedures with clients |
Evidence of the ability to:
apply organisational policy and procedures and comply with relevant legislation
identify client accounts that may be offered a debt assignment arrangement
demonstrate effective and considerate client management practice in explaining and establishing appropriate arrangements and in monitoring the arrangements.
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:
explain in detail current organisational policy and procedures for debt assignment arrangements
explain the characteristics of debt assignment arrangement options
outline the advantages and disadvantages of various debt assignment arrangements
interpret and describe key requirements of current debt management legislation.
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, procedures and legislation relevant to debt factoring and invoice discounting.
Assessors must satisfy NVR/AQTF assessor requirements.