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

FNSCRD402 Mapping and Delivery Guide
Establish and maintain appropriate security

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSCRD402 - Establish and maintain appropriate security
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to determine and implement appropriate security options in relation to individual customers to protect the organisation against loss and exposure.It applies to individuals who may use a range of specialised techniques and strategies to manage their work outcomes. 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, loan security and risk minimisation 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: Assess requirement for security
  • Undertake risk analysis of credit applications in accordance with organisational credit policy and guidelines to determine requirements for security
  • Determine customers’ level of risk and identify security requirements
       
Element: Identify available security options and suitability of available securities
  • Explain requirements for security to customers, considering any special needs of customers
  • Identify range of securities available and determine which are appropriate to type of credit facility
  • Negotiate with customers to determine security arrangements as required within organisational guidelines
       
Element: Apply appropriate security
  • Analyse assets and conduct valuations to confirm value of security
  • Register security interest in accordance with legislative requirements
       
Element: Monitor and review effectiveness of security arrangement
  • 4.1 Maintain knowledge of current conditions in market and keep updated on any changes in organisation's credit policy and guidelines
  • Monitor customer accounts to confirm appropriateness of security arrangements
  • Amend security arrangement documentation to reflect changes in customers’ relationships or circumstances where necessary
       


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. Assess requirement for security

1.1 Undertake risk analysis of credit applications in accordance with organisational credit policy and guidelines to determine requirements for security

1.2 Determine customers’ level of risk and identify security requirements

2. Identify available security options and suitability of available securities

2.1 Explain requirements for security to customers, considering any special needs of customers

2.2 Identify range of securities available and determine which are appropriate to type of credit facility

2.3 Negotiate with customers to determine security arrangements as required within organisational guidelines

3. Apply appropriate security

3.1 Analyse assets and conduct valuations to confirm value of security

3.2 Register security interest in accordance with legislative requirements

4. Monitor and review effectiveness of security arrangement

4.1 Maintain knowledge of current conditions in market and keep updated on any changes in organisation's credit policy and guidelines

4.2 Monitor customer accounts to confirm appropriateness of security arrangements

4.3 Amend security arrangement documentation to reflect changes in customers’ relationships or circumstances where necessary

Evidence of the ability to:

comply with relevant legislative requirements, industry regulations and codes of practice relating to security in credit applications

interpret and implement an organisation’s credit policy in regards to security

communicate effectively with customers explaining the requirement for security and their options in providing security

analyse the security customers can provide and establish the most appropriate option that will minimise risk to the organisation

maintain security for the credit arrangement in line with changes in organisational credit policy.


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:

outline current conditions in the credit management sector

describe key features of organisational credit policy and procedures

explain the full range of security options for credit that currently apply

outline the legislation, regulations and codes of practice relevant to security and the personal property securities register (PPSR)

discuss verbal and non-verbal communication

explain organisational guidelines when dealing with customers who have special needs.

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. Assess requirement for security

1.1 Undertake risk analysis of credit applications in accordance with organisational credit policy and guidelines to determine requirements for security

1.2 Determine customers’ level of risk and identify security requirements

2. Identify available security options and suitability of available securities

2.1 Explain requirements for security to customers, considering any special needs of customers

2.2 Identify range of securities available and determine which are appropriate to type of credit facility

2.3 Negotiate with customers to determine security arrangements as required within organisational guidelines

3. Apply appropriate security

3.1 Analyse assets and conduct valuations to confirm value of security

3.2 Register security interest in accordance with legislative requirements

4. Monitor and review effectiveness of security arrangement

4.1 Maintain knowledge of current conditions in market and keep updated on any changes in organisation's credit policy and guidelines

4.2 Monitor customer accounts to confirm appropriateness of security arrangements

4.3 Amend security arrangement documentation to reflect changes in customers’ relationships or circumstances where necessary

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
Undertake risk analysis of credit applications in accordance with organisational credit policy and guidelines to determine requirements for security 
Determine customers’ level of risk and identify security requirements 
Explain requirements for security to customers, considering any special needs of customers 
Identify range of securities available and determine which are appropriate to type of credit facility 
Negotiate with customers to determine security arrangements as required within organisational guidelines 
Analyse assets and conduct valuations to confirm value of security 
Register security interest in accordance with legislative requirements 
4.1 Maintain knowledge of current conditions in market and keep updated on any changes in organisation's credit policy and guidelines 
Monitor customer accounts to confirm appropriateness of security arrangements 
Amend security arrangement documentation to reflect changes in customers’ relationships or circumstances where necessary 

Forms

Assessment Cover Sheet

FNSCRD402 - Establish and maintain appropriate security
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

FNSCRD402 - Establish and maintain appropriate security

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: