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

FNSSAM601A Mapping and Delivery Guide
Monitor performance in sales of financial products or services

Version 1.0
Issue Date: April 2024


Qualification -
Unit of Competency FNSSAM601A - Monitor performance in sales of financial products or services
Description This unit describes the performance outcomes, skills and knowledge required to coordinate and monitor performance against organisation sales targets and quality customer service standards.No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.
Employability Skills This unit contains employability skills.
Learning Outcomes and Application This unit may be applied across all sectors of the financial services industry.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.
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 implementation of sales policies and procedures
  • Implementation of organisation policies and procedures in regard to selling of financial products or services is monitored
  • Implementation of organisation's policies and procedures in regard to transactions including non-cash transactions and variations to standard transactions is monitored
  • Information relating to sales of financial products and services is accurately recorded and products and services sold monitored to ensure that they are matched to customer needs with remedial action taken where deficiencies are identified
       
Element: Monitor implementation of customer service standards
  • Customer service standards are measured according to organisation's policies and procedures with remedial action taken where deficiencies are identified
  • Feedback to team members is provided in relation to customer service provision and quality on a regular basis in accordance with organisation policies and procedures
       
Element: Monitor achievement of sales targets
  • Sales results are recorded to assist with monitoring achievement of sales targets
  • Individual and branch sales targets are monitored and recorded according to organisation policies and procedures
  • Feedback is provided to management and staff on sales performance in relation to sales targets and planning
       


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.

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the ability to:

monitor the sales of an organisation including the implementation of the policies and procedures

evaluate customer service standards and the achievement of sales targets

provide clear feedback and advice on sales and quality customer service to personnel and management.

Context of and specific resources for assessment

Assessment must ensure:

competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment

access to and the use of a range of common office equipment, technology, software and consumables

access to financial services product information.

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:

evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency

verbal or written questioning on underpinning knowledge and skills

setting and reviewing workplace projects and business simulations or scenarios

evaluating samples of work

accessing and validating third party reports.

Guidance information for 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.

Required skills

highly-developed communication skills to:

provide comprehensive service quality feedback to sales personnel, using questioning and active listening as required

present sales and quality service information to groups and management

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

IT skills for:

accessing and using appropriate software such as spreadsheets and databases and using internet information

managing information on the sales process

well-developed literacy skills to:

analyse information and products to evaluate sales and compliance with quality service standards

report on and document sales and service outcomes

well-developed leadership skills

well-developed analysis and decision making skills

problem solving skills to address market product or service issues

organisational skills, including the ability to plan and sequence work

Required knowledge

customer relations and service techniques

industry codes of practice and regulations, including:

Consumer Credit Code

Privacy Act

Credit Union Code of Practice

Financial Institutions (FI) Code

organisation policies and procedures in regard to selling products and services

product knowledge, including:

product/account and service range

branch/department sales targets

factors that enhance sales performance

importance of sales to performance

relevant legislation and statutory requirements including relevant consumer law

sales techniques

the structure of the financial services industry

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Organisation policies and procedures may include:

customer service strategy

marketing plans

marketing strategy

quality standards for sales and service performance.

Customer service standards may be:

specific to individual organisations.

Sales targets may vary:

according to experience and training of staff and branch/department

targets and size

type and location of branch.

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
Implementation of organisation policies and procedures in regard to selling of financial products or services is monitored 
Implementation of organisation's policies and procedures in regard to transactions including non-cash transactions and variations to standard transactions is monitored 
Information relating to sales of financial products and services is accurately recorded and products and services sold monitored to ensure that they are matched to customer needs with remedial action taken where deficiencies are identified 
Customer service standards are measured according to organisation's policies and procedures with remedial action taken where deficiencies are identified 
Feedback to team members is provided in relation to customer service provision and quality on a regular basis in accordance with organisation policies and procedures 
Sales results are recorded to assist with monitoring achievement of sales targets 
Individual and branch sales targets are monitored and recorded according to organisation policies and procedures 
Feedback is provided to management and staff on sales performance in relation to sales targets and planning 

Forms

Assessment Cover Sheet

FNSSAM601A - Monitor performance in sales of financial products or services
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

FNSSAM601A - Monitor performance in sales of financial products or services

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: