Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners

FNSCRD401 Mapping and Delivery Guide
Assess credit applications

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSCRD401 - Assess credit applications
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to assess and verify information provided in credit applications, establish credit terms and limits, and notify customers of credit application outcomes.It applies to individuals who may use a range of organisational techniques to manage credit and debt recovery. Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the credit management field of work and include access to:

common office equipment, technology and consumables

credit product information

relevant software systems and data

organisational policy and procedures.

Assessors must satisfy NVR/AQTF assessor requirements.

Prerequisites/co-requisites
Competency Field
Development and validation strategy and guide for assessors and learners Student Learning Resources Handouts
Activities 		Slides
PPT 		Assessment 1 Assessment 2 Assessment 3 Assessment 4
Elements of Competency Performance Criteria              
Element: Satisfy initial enquiry
  • Respond to initial customer enquiries on type, range and availability of credit and provide information with courtesy, respect and recognition of special needs of customers
  • Provide basic information, such as terms and conditions and interest rate, and determine potential securitisation needs in accordance with credit policy and legislative requirements
       
Element: Assess and verify credit information
  • Verify credit applications and documentation in accordance with organisational policy and procedures to maintain accuracy of credit database information
  • Analyse credit information to establish that sufficient evidence of accurate information has been provided
  • Maintain liaison with customers and relevant internal and external personnel to ensure information is kept up to date and disseminated appropriately
       
Element: Assess risk
  • Identify and evaluate possible risks to determine overall level of risk associated with application
  • Identify need to take security, minimise risk exposure and provide protection against risk in accordance with organisational risk management policy
  • Document risk assessment in accordance with organisational procedures
       
Element: Establish credit terms and limits
  • Make decision on how to proceed with credit application based on assessed information and in accordance with organisational risk management policy
  • Determine credit terms and limits within organisational credit policy guidelines and advise customers of credit decisions promptly and courteously
  • Complete credit account administration according to organisational credit policy and timelines, and legislative requirements
       


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.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Satisfy initial enquiry

1.1 Respond to initial customer enquiries on type, range and availability of credit and provide information with courtesy, respect and recognition of special needs of customers

1.2 Provide basic information, such as terms and conditions and interest rate, and determine potential securitisation needs in accordance with credit policy and legislative requirements

2. Assess and verify credit information

2.1 Verify credit applications and documentation in accordance with organisational policy and procedures to maintain accuracy of credit database information

2.2 Analyse credit information to establish that sufficient evidence of accurate information has been provided

2.3 Maintain liaison with customers and relevant internal and external personnel to ensure information is kept up to date and disseminated appropriately

3. Assess risk

3.1 Identify and evaluate possible risks to determine overall level of risk associated with application

3.2 Identify need to take security, minimise risk exposure and provide protection against risk in accordance with organisational risk management policy

3.3 Document risk assessment in accordance with organisational procedures

4. Establish credit terms and limits

4.1 Make decision on how to proceed with credit application based on assessed information and in accordance with organisational risk management policy

4.2 Determine credit terms and limits within organisational credit policy guidelines and advise customers of credit decisions promptly and courteously

4.3 Complete credit account administration according to organisational credit policy and timelines, and legislative requirements

Evidence of the ability to:

communicate with customers, considering their special needs, to explain:

features of credit products

application and security requirements

the credit decision

comply with appropriate legislation, industry regulations and organisational guidelines when analysing and documenting risk in the assessment of credit applications

use data entry and recording systems to capture and analyse credit information and complete risk assessment.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

list the features of credit products and their application requirements

describe the special needs of customers

explain the organisational procedures and systems relating to assessing credit applications

identify the possible risks associated with credit applications

describe the types of security that can be taken to minimise risk exposure

describe the key features of organisational credit and risk management policies

identify and outline the key requirements of relevant legislation and industry regulations in regards to risk assessment.

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assignment, 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.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Satisfy initial enquiry

1.1 Respond to initial customer enquiries on type, range and availability of credit and provide information with courtesy, respect and recognition of special needs of customers

1.2 Provide basic information, such as terms and conditions and interest rate, and determine potential securitisation needs in accordance with credit policy and legislative requirements

2. Assess and verify credit information

2.1 Verify credit applications and documentation in accordance with organisational policy and procedures to maintain accuracy of credit database information

2.2 Analyse credit information to establish that sufficient evidence of accurate information has been provided

2.3 Maintain liaison with customers and relevant internal and external personnel to ensure information is kept up to date and disseminated appropriately

3. Assess risk

3.1 Identify and evaluate possible risks to determine overall level of risk associated with application

3.2 Identify need to take security, minimise risk exposure and provide protection against risk in accordance with organisational risk management policy

3.3 Document risk assessment in accordance with organisational procedures

4. Establish credit terms and limits

4.1 Make decision on how to proceed with credit application based on assessed information and in accordance with organisational risk management policy

4.2 Determine credit terms and limits within organisational credit policy guidelines and advise customers of credit decisions promptly and courteously

4.3 Complete credit account administration according to organisational credit policy and timelines, and legislative requirements

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
Respond to initial customer enquiries on type, range and availability of credit and provide information with courtesy, respect and recognition of special needs of customers 
Provide basic information, such as terms and conditions and interest rate, and determine potential securitisation needs in accordance with credit policy and legislative requirements 
Verify credit applications and documentation in accordance with organisational policy and procedures to maintain accuracy of credit database information 
Analyse credit information to establish that sufficient evidence of accurate information has been provided 
Maintain liaison with customers and relevant internal and external personnel to ensure information is kept up to date and disseminated appropriately 
Identify and evaluate possible risks to determine overall level of risk associated with application 
Identify need to take security, minimise risk exposure and provide protection against risk in accordance with organisational risk management policy 
Document risk assessment in accordance with organisational procedures 
Make decision on how to proceed with credit application based on assessed information and in accordance with organisational risk management policy 
Determine credit terms and limits within organisational credit policy guidelines and advise customers of credit decisions promptly and courteously 
Complete credit account administration according to organisational credit policy and timelines, and legislative requirements 

Forms

Assessment Cover Sheet

FNSCRD401 - Assess credit applications
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

FNSCRD401 - Assess credit applications

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: