Assessor Resource

FNSRTS305A
Process customer accounts

Assessment tool

Version 1.0
Issue Date: May 2024


This unit may apply to job roles in retail financial institutions including banks and credit unions or any organisation administering customer financial accounts.

This unit describes the performance outcomes, skills and knowledge required to identify customer needs and process customer financial accounts.

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:

thoroughly check customer account details and deal with customers effectively following complaint and dispute resolution policies and procedures where required

implement customer account processing in accordance with industry codes of practice and organisation policy

maintain and use knowledge of range of products, features and fees.

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 product information

access to an integrated transaction system and data.

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

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

communication skills to:

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

inform customers of account features and operation

resolve customer issues and conflicts

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

numeracy and IT skills to:

calculate premiums, repayment rates, etc

check transactions

access and use computer-based databases and systems

problem solving skills to address customer account issues

literacy skills to read documents and complete forms and records accurately

organisational skills, including the ability to plan and sequence work

teamwork skills to work cooperatively with others

self-management skills for complying with organisational procedures and requirements

Required knowledge

financial account products available and their features

policies and procedures in regard to customer account service and techniques

relevant industry codes of practice, including:

Consumer Credit Code

Financial Institutions (FI) Code

Electronic Funds Transfer (EFT) Code of Conduct

relevant legislation and statutory requirements, including:

Privacy Act

Credit Reference Association of Australia (CRAA)

Financial Transaction Reports Act

Cheques and Payment Orders Act

Anti-Money Laundering and Counter Terrorism Financing Acts

security checking procedures

the operation and maintenance of equipment which may include:

security equipment

transaction terminals

numerical display boards

calculators

scanners

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.

Authorised personnel may include:

dispute resolution officer

employees

supervisors and managers.

Information provided to customer may include descriptions of:

accounts geared to the needs of particular groups such as:

customer deeming accounts

youth accounts

investment accounts

retirement accounts

savings accounts.

Information required for opening accounts may include:

amount of initial deposit

other signatories to the account

primary account holder's:

name

address

contact details

purpose for which the account will be used

required links to other accounts held.

Organisational procedures for customer identification may include:

conducting the 100 point check of personal identification

identifying and matching customer with existing accounts held within own financial institution.

The accuracy and sufficiency of information provided includes ensuring:

authenticity of signatures

checks against or links to existing customer account information

completeness of documentation

provision of sufficient documentary evidence (points) to meet the requirements for establishing a new account.

Transaction processing may be:

manual or electronic and may involve:

accurate data entry of transactions into relevant database

accurate completion of customer application forms and transaction receipts.

Customer account details may include:

EFT disputes

electronic bill and other payments

fees charged

insurance

investment, retirement savings

payroll:

member chequeing

direct debit

periodical payments

transfers from other accounts

visas and other plastic cards.

Required information to transfer or close an account may include:

account details to enable transfer of remaining funds

details of possible complaints relating to the account

reasons for transfer or closure of accounts.

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
Requests for information on the range, options and features of account services available are addressed in a timely, accurate and comprehensive manner, or referred if necessary to other authorised personnel 
Information is provided to customers to assist in the selection of an appropriate product which outlines product features, matches products to customer needs, describes the cost of operation and the conditions of the accounts 
Customers are assisted when completing relevant documentation for selected services and products 
Potential account holders are interviewed to gather information required for the opening of accounts with applicant identified for security purposes according to organisational procedures 
Information provided is assessed for accuracy and sufficiency according to the standard organisation procedures 
Completed documentation is verified for accuracy and deposits are accepted ensuring that receipts and certificates are issued 
New applications and transactions are processed in accordance with organisation's policies and procedures to ensure the timely and accurate completion of the task 
Information is provided to customer about the processes for activating the account including the timeframe and mechanisms for receiving transaction cards or deposit books and the most cost effective way to use the account 
The account holder seeking to transfer or close an account is interviewed to gather the required information which is assessed for accuracy and sufficiency according to the standard organisation procedures 
Completed documentation is verified for accuracy and applications for transfer or closure are processed in accordance with organisation's policies and procedures to ensure the timely and accurate completion of the task 
Information about the finalisation of the process is provided in accordance with organisation policies and procedures 
Standard organisation processes and protocols are used to verify customer identity when collecting processed documentation and cards from a branch 
Customer queries or complaints about the operation of the service are followed up with appropriate personnel according to standard procedures 
Reports are provided on account activity in line with standard policies and procedures with any exception reports responded to 

Forms

Assessment Cover Sheet

FNSRTS305A - Process customer accounts
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

FNSRTS305A - Process customer accounts

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: