Application
This unit describes the skills and knowledge required to adapt practice to a rural context, targeting the specific needs of rurally based clients using a structured strengths-based and client-focused financial counselling process.
This unit applies to financial counsellors. In order to qualify for the Australian Securities and Investments Commission (ASIC) exemption from the delivery of financial service contained in the Financial Services Reform Amendment Act 2003, a financial counsellor must be eligible for membership of the financial counselling association recognised in their State or Territory, or the national financial counselling body.
The skills in this unit must be applied in accordance with Commonwealth and State/Territory legislation, Australian/New Zealand Standards and industry codes of practice.
Elements and Performance Criteria
ELEMENT | PERFORMANCE CRITERIA |
Elements define the essential outcomes | Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Adapt practice to rural context | 1.1 Identify and respond to the current philosophies, framework and issues that apply in a rural context, including specific work health and safety issues 1.2 Identify and use models of work that may be applied in the rural sector 1.3 Recognise and respond to the impact of current and historical social, economic and political factors on clients in the rural sector |
2. Target services to the needs of clients in the rural sector | 2.1 Use approaches that reflect understanding of a farms as both business and family enterprises 2.2 Apply knowledge of financial aspects relating to planning and management of a rural enterprise 2.3 Collect and review information from key stakeholders and representatives 2.4 Make appropriate referrals using knowledge of local support networks 2.5 Advocate on behalf of clients in the rural sector where appropriate 2.6 Support clients in mediation and negotiation with third parties |
3. Ensure personal approach aligns with client needs | 3.1 Demonstrate a commitment to access and equity principles in all work undertaken 3.2 Reflect on and take account of own values and attitudes regarding rural financial counselling 3.3 Adapt own approach to meet individual social, cultural and linguistic needs of clients 3.4 Respond with sensitivity to clients experiencing stress |
Evidence of Performance
The candidate must show evidence of the ability to complete tasks outlined in elements and performance criteria of this unit, manage tasks and manage contingencies in the context of the job role. There must be evidence that the candidate has:
worked according to the values and philosophies of rural financial counselling, using critical thinking and problem-solving skills to respond to the financial counselling needs of at least 5 different rural clients, including:
working in accordance with the class order applicable for rural financial counselling services (class order 11/926)
engaging in mediation with financial institutions using state/territory farm debt mediation Acts and other relevant legislation
reading and interpreting enterprise profit and loss statements.
Evidence of Knowledge
The candidate must be able to demonstrate essential knowledge required to effectively complete tasks outlined in elements and performance criteria of this unit, manage tasks and manage contingencies in the context of the work role. This includes knowledge of:
legal and ethical considerations (national, state/territory) for financial counselling, and how these are applied in organisations and individual practice:
children in the workplace
codes of conduct/practice
conflict of interest
court systems and the key feature of their operation
discrimination
duty of care
human rights
informed consent
mandatory reporting
practice standards
practitioner/client boundaries
privacy, confidentiality and disclosure
records management
rights and responsibilities of workers, employers and clients:
scope and limitations of financial counsellor role
specific legislation that applies to rural financial counselling work, including:
Financial Services Reform Act 2003
state/territory farm debt mediation Acts
state rural adjustment Acts
work health and safety
current context issues that impact rural financial counselling work, including:
primary industries and their role
farms as business enterprises and commonly used farm business structures
political context
economic context
social issues
technology issues
eligible rural enterprises
models of work in the rural sector, including:
options for development and decision support
farm debt mediation
farm visits
case management
working with families
referral
early intervention/prevention
community development and education
risk identification
stakeholders commonly involved in rural financial counselling work, including:
financial services
community service
industry bodies
government institutions and regulators
personal networks
principles of farm enterprise business and succession planning
principles and techniques for cash flow budgeting
how to interpret profit and loss statements
banking and finance industries and regulatory frameworks including hardship provisions for primary producers
Centrelink support mechanisms
referral networks and resources
principles of client empowerment/disempowerment
principles of access and equity
signs of health/mental health issues, including common indicators of suicide risk
factors for consideration when working with people from culturally and linguistically diverse backgrounds, including Indigenous Australian culture
impact of work practices that are unsatisfactory or illegal, including:
using workers without visa
paying appropriate wages
rural family culture and dynamics.
Assessment Conditions
Skills must have been demonstrated in the workplace with the addition of simulations and scenarios where the full range of contexts and situations have not been provided in the workplace. The following conditions must be met for this unit:
use of suitable facilities, equipment and resources, including:
client information
organisation policies, procedures and resources
modelling of industry operating conditions, including:
scenarios that involve complex interactions with other people
scenarios that involve problem-solving.
Assessors must satisfy the Standards for Registered Training Organisations (RTOs) 2015/AQTF mandatory competency requirements for assessors.
Foundation Skills
The Foundation Skills describe those required skills (language, literacy, numeracy and employment skills) that are essential to performance.
Foundation skills essential to performance are explicit in the performance criteria of this unit of competency.