Assessor Resource

FNSCUS504A
Manage premium customer relationships

Assessment tool

Version 1.0
Issue Date: May 2024


This unit applies to senior customer service job roles in the financial services industry.

This unit describes the performance outcomes, skills and knowledge required to build and maintain relationships with premium or high value customers including the tailoring of services to meet their specific needs.

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:

conduct customer segmentation analysis and evaluation and accurately identify customer needs

maintain and apply a thorough knowledge of organisation products and services

develop reward and recognition strategies

construct and analyse feedback and exception reports

consider and adapt to any special needs of customers, including cultural, language, race, religion, ethnic origin, socio-economic status and demographic needs.

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 organisation policies and practises and the technology and systems used by the organisation to provide services to 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

verbal or written questioning on underpinning knowledge and skills

setting and reviewing 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 high value customer service requirements, using questioning and active listening as required

market services to customers

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

research and analysis to access, interpret and manage information on organisation service to premium customers and determine appropriate reward systems and products

problem solving skills to address all premium customer service issues and tailor products and services as required

judgement skills for forming recommendations in operational situations

IT skills for accessing and using specialised contact databases, customer information systems and using internet information

well-developed literacy skills for:

reading and interpreting documentation from a variety of sources and recording, gathering and consolidating information

drafting reports

learning skills to maintain knowledge of industry products and operating environment

organisational skills, including coordinating activities across an organisation, monitoring customer satisfaction and planning and sequencing work

Required knowledge

customer motivations, needs and wants

financial products and services and their benefits and applications

organisation policies, procedures and protocols

organisation systems

principles of customer relationship marketing

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 criteria for the development of premium or high value customer segments may include the following characteristics:

deposit or borrowing levels or history

lifecycle stage

number and range of products and/or services used

propensity to switch financial services institution

the individual customer's total net worth.

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

service needs:

coordinated and single point of delivery

hotline service providing direct access to a known staff member

selection of appropriate and effective products including:

interest bearing accounts

cheque accounts

online and phone banking

credit and debit cards

personal loans

mortgages

financial planning

insurances

streamlining service delivery

reduced account management costs across a broad range of products

service wants:

to be valued as a special customer - rewards and recognition

to have unique needs met

privileged access to services.

Service strategy for premium customers may include:

effective account management

guaranteed service response times

membership of a special customer club

review of current products and services to optimise benefits and improve service

special offers

targeted mail-outs.

A portfolio of premium customers managed by an officer may be determined by:

geographic location

net value.

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
Criteria for the identification of customers in specialist premium customer segments are analysed and evaluated 
Databases are accessed and updated to ensure the availability of consistent and accurate information to support quality customer relationship management 
The attributes, service needs and wants of the premium customer segment are identified as a basis for tailoring communications and services 
Contribution is made to the development of a service strategy for the premium customer segment 
The portfolio of premium customers is administered using the business rules and processes of the financial services organisation 
Characteristics, benefits and costs of the range of products and services relevant to the premium customer segment are identified and analysed and service is delivered to the standard specified for the customer segment 
Reward and recognition strategies to build customer loyalty are developed and delivered to the premium customer segment 
Regular contact is established with customers in the portfolio to determine their ongoing needs and service expectations 
Current usage patterns are analysed and effective service and product options are identified and documented 
Optimum product and service solutions to meet customer needs are identified, modelled and sold 
Service delivery to the premium customer by other departments or groups across the organisation are coordinated 
Concerns or complaints about service or products are researched and addressed on behalf of the customer including the coordination of responses across all departments and groups 
Reports against targets using standards, protocols and procedures are made with exception or feedback reports analysed and problems rectified 
Product and service offering targeted to the premium customer segment is reviewed and solutions for improvement are made to management 
The customer database is maintained to improvement the management of the premium customer segment 

Forms

Assessment Cover Sheet

FNSCUS504A - Manage premium customer relationships
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

FNSCUS504A - Manage premium customer relationships

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: