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Elements and Performance Criteria

  1. Establish that a dispute exists
  2. Investigate the dispute and determine the action to be taken
  3. Resolve dispute
  4. Finalise dispute

Required Skills

Required skills

welldeveloped communication skills to

determine and confirm dispute situation and resolution requirements using questioning and active listening as required

negotiate effectively and respectfully

liaise with others share information listen and understand

use language and concepts appropriate to cultural differences

research and analysis for

accessing interpreting and managing dispute documentation and related information

accessing and interpreting financial product information

literacy skills to read and interpret documentation from a variety of sources and recording gathering and consolidating information

IT skills for accessing and using appropriate software such as spreadsheets and databases and using internet information

team working skills for working cooperatively and effectively with others

problem solving skills to address negotiation and related dispute resolution issues

judgement skills for forming recommendations in operational situations

organisational skills including the ability to plan and sequence work and plan meetings

Required knowledge

current industry compliance requirements and dispute settling procedures and requirements

current organisation policy and procedures and any impacting legislation for dispute resolution

negotiation principles and practises

risk prevention methods

Evidence Required

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

settle disputes in the financial services industry in line with organisations policy and procedures and industry and legislative requirements

effectively apply dispute resolution techniques

interpret and comply with relevant legislation organisation policy and procedures and industry codes of practice

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 information about a range of workplace disputes

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 or role plays

verbal or written questioning on underpinning knowledge and skills

setting and reviewing business simulations or scenarios

accessing and validating third party reports

Guidance information for assessment


Range Statement

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.

Grounds for the dispute may include:

claims

failure to provide agreed service

fraud

interpretation of terms and conditions

liability

provision of inaccurate advice

validity of contract.

Parties may include:

brokers

claimant

employer

industry and professional organisations

insurer

investigators or assessors

risk manger

service providers

unions.

Information may include:

customer details

customer history with the organisation and other companies

organisation policy

type of business and product or service.

Investigations may include consideration of:

whether:

the correct procedure been followed

the customer been kept informed of progress of the dispute

the initial decision that is being disputed based on adequate information

Formal conciliation services may include:

conciliation bodies or specific industry dispute resolution bodies such as:

Insurance Enquiries and Complaints Scheme

Insurance Brokers Disputes Limited (IBD)

referral to outside bodies such as mediators.