Diploma of Credit Management

This qualification reflects job roles such as credit manager in a range of financial services and other industry enterprises.

The qualification includes the Units of Competency which could meet the educational requirements for the obtaining of an Australian Credit Licence (ACL). Conditions relating to ASIC accreditation should be obtained from ASIC.

The Commonwealth Government will assume responsibility for the Uniform Consumer Credit Code (UCCC) by enacting it as Commonwealth law. Consumer Credit Protection legislation was enhanced on 17 September 2009 and the Consumer Credit Reforms commenced on 1 July 2010. The Australian Securities and Investments Commission (ASIC) will administer credit provider regulation.

Anyone who engages in certain credit activities requires an ACL. They will need to:

have registered with ASIC between 1 April and 30 June 2010 (inclusive) and apply for an Australian credit licence (ACL) between 1 July 2010 and 31 December 2010 (applicable only to currently registered credit participants)

apply for an ACL from 1 July 2010 (applicable to new entrants to the credit market).

Subjects

12 units must be achieved:

7 core units

plus5 elective units.

5 elective units may be selected from the elective units listed below or any other qualification at Diploma level within the FNS training package.

2 elective units may be selected from the elective units listed below, any endorsed Training Package or accredited course. Elective units may be selected from a Certificate IV, Diploma or Advanced Diploma qualification.

Elective units must be relevant to the work outcome, local industry requirements and the qualification level.

Core units of competency:

add topic FNSCRD501A Respond to personal insolvency situations

add topic FNSCRD504A Manage the credit relationship

add topic FNSCRD505A Respond to corporate insolvency situations

add topic FNSINC401A Apply principles of professional practice to work in the financial services industry

add topic FNSORG401A Conduct individual work within a compliance framework

add topic FNSORG502A Develop and monitor policy and procedures

add topic BSBRSK501A Manage risk

Elective units of competency:

add topic FNSCNV506A Establish and manage a trust account

add topic FNSCRD404A Utilise the legal process to recover outstanding debt

add topic FNSCRD405A Manage overdue customer accounts

add topic FNSCRD502A Manage factoring and invoice discounting arrangements

add topic FNSCRD503A Promote understanding of the role and effective use of consumer credit

add topic FNSCUS504A Manage premium customer relationships

add topic FNSCUS505A Determine client requirements and expectations

add topic FNSORG507A Manage client service and business information

add topic FNSORG604A Establish outsourced services and monitor performance

add topic FNSRSK601A Develop and implement risk mitigation plan

add topic BSBCOM402B Implement processes for the management of a breach in compliance

add topic BSBCUS501B Manage a quality customer service

add topic BSBINN601A Manage organisational change

add topic BSBMGT502B Manage people performance

add topic BSBMGT605B Provide leadership across the organisation

add topic BSBMGT617A Develop and implement a business plan

add topic BSBSMB407A Manage a small team

add topic BSBSUS501A Develop workplace policy and procedures for sustainability

add topic BSBWOR501A Manage personal work priorities and professional development

Pathways...

    Preferred pathways for candidates entering this qualification include:

    Certificate IV in Credit Management

    A learning pathway utilising this qualifications is Advanced Diploma of Integrated Risk Management or similar specialisations.

    A further learning pathway could be study in relevant higher education programs.

Entry Requirements

Not applicable.

Licensing Information

Not applicable.

Employability Skills

The following table contains a summary of the employability skills required by industry for this qualification. The employability skills facets described here are broad industry requirements that may vary depending on qualification packaging options.

Employability Skill

Industry/enterprise requirements for this qualification include:

Communication

Collecting and analysing information and presenting it in report form

consulting with stakeholders on credit management policies and procedures

developing and writing reports to specifications

preparing and presenting correspondence in appropriate electronic format

questioning, clarifying and evaluating information

using effective telephone techniques and having the ability to negotiate solutions with customers

Teamwork

monitoring and working with staff to develop and implement policies and procedures

supervising work practices and adapting to change in technical and work practices

supporting others in implementing compliance and management systems

Problem solving

aligning requirements of the system with the needs of users

analysing and synthesising information and determining levels of credit and related risk

collecting, analysing, comparing and contrasting data

comparing risk exposure levels with industry and statutory obligations

identifying and resolving inconsistencies

assessing and managing risk

solving problems in respect to risk and knowledge management systems

testing strategic assumptions and applying different risk treatment strategies

Initiative and enterprise

identifying and investigating risk as it relates to new business

identifying improvements to work design and organisation

reviewing processes to inform future activity

Planning and organising

contributing to the planning process by researching and validating information

monitoring and updating policy and guidelines against KPIs

researching, developing, trialling, implementing, monitoring and reviewing policies and procedures and risk strategies

Self-management

acting as a role model for others

applying time management strategies to own work schedule

planning own work schedule and monitoring and evaluating own work performance

presenting a positive organisational image

taking responsibility as required by work role and ensuring all organisational policies and procedures are followed

understanding and acting upon compliance requirements

working ethically and complying with all industry codes of practice and legislative requirements

Learning

ensuring training and professional development is undertaken to meet compliance requirements is maintained

evaluating and reviewing risk assessment strategies

Technology

conducting web searches and using corporate templates

operating computers and using word processing, spreadsheet and database skills to produce workplace documentation

using business technology to access, organise and monitor information

using research data devices and telecommunication devices and equipment