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

FNSCRD502 Mapping and Delivery Guide
Manage factoring and invoice discounting arrangements

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSCRD502 - Manage factoring and invoice discounting arrangements
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to provide appropriate advice to clients and establish debt factoring or invoice discounting arrangements.It applies to individuals who may use a range of managerial and specialist techniques to implement effective service arrangements and relationships with clients.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, procedures and legislation relevant to debt factoring and invoice discounting.

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: Explain arrangement options to clients
  • Identify different types of arrangements that may be offered to clients
  • Advise clients of policy and procedures that should be followed in relation to different types of products
  • Assess clients’ financial positions from information provided and advantages and disadvantages of various debt assignment arrangements
  • Advise clients on legal assignment of debt that relates to each type of arrangement
       
Element: Advise clients on appropriate arrangements
  • Provide information on appropriate arrangements to clients in accordance with legislative requirements
  • Establish arrangements, including all terms and conditions, with clients by completing relevant documentation
       
Element: Manage relationship between client and factor or invoice discounter
  • Advise clients how the relationship will proceed with all participants involved in the arrangements
  • Establish ongoing monitoring and review procedures with clients
       


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. Explain arrangement options to clients

1.1 Identify different types of arrangements that may be offered to clients

1.2 Advise clients of policy and procedures that should be followed in relation to different types of products

1.3 Assess clients’ financial positions from information provided and advantages and disadvantages of various debt assignment arrangements

1.4 Advise clients on legal assignment of debt that relates to each type of arrangement

2. Advise clients on appropriate arrangements

2.1 Provide information on appropriate arrangements to clients in accordance with legislative requirements

2.2 Establish arrangements, including all terms and conditions, with clients by completing relevant documentation

3. Manage relationship between client and factor or invoice discounter

3.1 Advise clients how the relationship will proceed with all participants involved in the arrangements

3.2 Establish ongoing monitoring and review procedures with clients

Evidence of the ability to:

apply organisational policy and procedures and comply with relevant legislation

identify client accounts that may be offered a debt assignment arrangement

demonstrate effective and considerate client management practice in explaining and establishing appropriate arrangements and in monitoring the arrangements.

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:

explain in detail current organisational policy and procedures for debt assignment arrangements

explain the characteristics of debt assignment arrangement options

outline the advantages and disadvantages of various debt assignment arrangements

interpret and describe key requirements of current debt management legislation.

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. Explain arrangement options to clients

1.1 Identify different types of arrangements that may be offered to clients

1.2 Advise clients of policy and procedures that should be followed in relation to different types of products

1.3 Assess clients’ financial positions from information provided and advantages and disadvantages of various debt assignment arrangements

1.4 Advise clients on legal assignment of debt that relates to each type of arrangement

2. Advise clients on appropriate arrangements

2.1 Provide information on appropriate arrangements to clients in accordance with legislative requirements

2.2 Establish arrangements, including all terms and conditions, with clients by completing relevant documentation

3. Manage relationship between client and factor or invoice discounter

3.1 Advise clients how the relationship will proceed with all participants involved in the arrangements

3.2 Establish ongoing monitoring and review procedures with clients

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
Identify different types of arrangements that may be offered to clients 
Advise clients of policy and procedures that should be followed in relation to different types of products 
Assess clients’ financial positions from information provided and advantages and disadvantages of various debt assignment arrangements 
Advise clients on legal assignment of debt that relates to each type of arrangement 
Provide information on appropriate arrangements to clients in accordance with legislative requirements 
Establish arrangements, including all terms and conditions, with clients by completing relevant documentation 
Advise clients how the relationship will proceed with all participants involved in the arrangements 
Establish ongoing monitoring and review procedures with clients 

Forms

Assessment Cover Sheet

FNSCRD502 - Manage factoring and invoice discounting arrangements
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

FNSCRD502 - Manage factoring and invoice discounting arrangements

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: