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

FNSCRD505 Mapping and Delivery Guide
Respond to corporate insolvency situations

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSCRD505 - Respond to corporate insolvency situations
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to respond to corporate insolvency and its effect on creditors, and to determine actions required in an insolvency situation.It applies to individuals in positions of responsibility who may use managerial and other specialist techniques to perform their work. 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 related to managing insolvency.

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: Monitor status of corporate insolvency and analyse potential risk
  • Identify factors in corporate client accounts that may contribute to possible corporate insolvency situations and risk factors to creditor organisation
  • Analyse impact of insolvency options that may be taken by liquidator, administrator, receiver or other third party
  • Discuss possible effects of actions with line manager if required to determine correct action
       
Element: Determine appropriate action
  • Evaluate corporate insolvency actions in accordance with legislative rights and obligations of both debtor and creditor
  • Complete appropriate documentation in accordance with legislative requirements and organisational policy to implement appropriate action and commence legal proceedings
       
Element: Review circumstances which led to corporate insolvency situation
  • Evaluate causes for corporate insolvency and review organisational procedures to determine mechanisms to identify contributing factors and prevent recurrence of loss and exposure to insolvency risk
  • Implement outcome of review as required
       


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. Monitor status of corporate insolvency and analyse potential risk

1.1 Identify factors in corporate client accounts that may contribute to possible corporate insolvency situations and risk factors to creditor organisation

1.2 Analyse impact of insolvency options that may be taken by liquidator, administrator, receiver or other third party

1.3 Discuss possible effects of actions with line manager if required to determine correct action

2. Determine appropriate action

2.1 Evaluate corporate insolvency actions in accordance with legislative rights and obligations of both debtor and creditor

2.2 Complete appropriate documentation in accordance with legislative requirements and organisational policy to implement appropriate action and commence legal proceedings

3. Review circumstances which led to corporate insolvency situation

3.1 Evaluate causes for corporate insolvency and review organisational procedures to determine mechanisms to identify contributing factors and prevent recurrence of loss and exposure to insolvency risk

3.2 Implement outcome of review as required

Evidence of the ability to:

follow organisational policy and procedures and legislative requirements to determine required action related to corporate insolvency

complete relevant documentation to ensure legal proceedings are undertaken correctly

evaluate circumstances of corporate insolvency and determine changes to organisational procedures as required.

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:

describe factors that lead to corporate insolvency

outline potential insolvency actions

describe a range of insolvency situations and risk factors for the creditor organisation

explain key features of current legislative requirements relating to corporate insolvency

explain the application of organisational policy to corporate insolvency management

identify and describe the full range of credit options within legal requirements

define relevant industry indicators of insolvency.

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. Monitor status of corporate insolvency and analyse potential risk

1.1 Identify factors in corporate client accounts that may contribute to possible corporate insolvency situations and risk factors to creditor organisation

1.2 Analyse impact of insolvency options that may be taken by liquidator, administrator, receiver or other third party

1.3 Discuss possible effects of actions with line manager if required to determine correct action

2. Determine appropriate action

2.1 Evaluate corporate insolvency actions in accordance with legislative rights and obligations of both debtor and creditor

2.2 Complete appropriate documentation in accordance with legislative requirements and organisational policy to implement appropriate action and commence legal proceedings

3. Review circumstances which led to corporate insolvency situation

3.1 Evaluate causes for corporate insolvency and review organisational procedures to determine mechanisms to identify contributing factors and prevent recurrence of loss and exposure to insolvency risk

3.2 Implement outcome of review as required

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 factors in corporate client accounts that may contribute to possible corporate insolvency situations and risk factors to creditor organisation 
Analyse impact of insolvency options that may be taken by liquidator, administrator, receiver or other third party 
Discuss possible effects of actions with line manager if required to determine correct action 
Evaluate corporate insolvency actions in accordance with legislative rights and obligations of both debtor and creditor 
Complete appropriate documentation in accordance with legislative requirements and organisational policy to implement appropriate action and commence legal proceedings 
Evaluate causes for corporate insolvency and review organisational procedures to determine mechanisms to identify contributing factors and prevent recurrence of loss and exposure to insolvency risk 
Implement outcome of review as required 

Forms

Assessment Cover Sheet

FNSCRD505 - Respond to corporate insolvency situations
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

FNSCRD505 - Respond to corporate insolvency situations

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: