Elements and Performance Criteria
- Satisfy initial enquiry
- Customer initial enquiries on the type, range and availability of credit are responded to and information provided in ways which show courtesy and respect for and recognise the special needs of the customer
- Basic information such as terms and conditions and interest rate are advised and potential securitisation needs determined in accordance with credit policy and legislative requirements
- Assess and monitor credit information
- Credit applications and documentation are verified in accordance with organisation policy and procedures to maintain accuracy of credit database information
- Credit information is analysed to establish that sufficient evidence of accurate information has been provided
- Processing of applications is completed in accordance with organisation risk policy and timelines
- Continuing liaison with debtor and relevant internal and external personnel is maintained to ensure information is kept up to date and disseminated appropriately
- Assess the risk
- Applicant's financial circumstances are identified in order determine the level of risk associated with the application
- Possible risks associated with the application or applicant are identified and evaluated in order to minimise or protect against risk
- The need to take security to minimise risk exposure is identified in accordance with organisation credit policies
- Assessment is documented in accordance with organisation procedures
- Establish credit terms and limits
- Credit decision is made based on assessed information and in accordance with organisation risk management policy
- Credit terms and limits are determined within organisation credit policy guidelines and current criteria for risk management objectives and customer is advised of the credit decision promptly and courteously
- Credit account administration is completed according to organisation credit policy and timelines and legislative requirements