Application
This unit refers to the delivery of financial counselling services to clients in a rural context In order to qualify for the 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 Financial counselling operates from a strengths-based and client-focused model |
Prerequisites
Pre-requisites | This unit must be assessed after successful achievement of the following related units: CHCFIN501A Identify and apply technical information to assist clients with financial issues CHCFIN502A Facilitate the financial counselling process CHCFIN503A Develop and use financial counselling tools and techniques |
Elements and Performance Criteria
ELEMENT | PERFORMANCE CRITERIA |
1. Work within the context of rural financial counselling | 1.1 Work with a basic knowledge of the current framework and issues that apply in a rural context, including specific occupational health and safety (OHS) issues 1.2 Identify different models of work that may be applied in the rural the sector 1.3 Work in a manner that demonstrates consideration and understanding of underpinning values and philosophies in rural financial counselling 1.4 Deliver financial counselling services with an understanding of 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 Undertake financial counselling work that reflects understanding of a farm as a business enterprise as well as in the context of a family enterprise 2.2 Ensure financial counselling work reflects understanding of family enterprise and its links/relationship with rural and farming business 2.3 Apply knowledge of financial aspects relating to planning and management of a rural enterprise 2.4 Collect information, including views of key stakeholders and representatives from relevant target groups and use in the delivery of rural financial counselling services 2.5 Make appropriate referrals as required, using knowledge of local support networks 2.6 Advocate on behalf of clients in the rural sector where appropriate 2.7 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 Review personal values and attitudes regarding rural financial counselling and take into account when planning and implementing all work activities 3.3 Demonstrate consideration and understanding of social, cultural and linguistic difference in all work undertaken 3.4 Adapt own approach appropriately to meet individual social, cultural and linguistic needs of clients 3.5 Respond with sensitivity to clients experiencing stress |
Required Skills
This describes the essential skills and knowledge and their level required for this unit. |
Essential knowledge: The candidate must be able to demonstrate essential knowledge required to effectively do the task outlined in elements and performance criteria of this unit, manage the task and manage contingencies in the context of the identified work role These include knowledge of: Commonly used farm business structures Principles of farm enterprise business planning Thorough knowledge of cash flow budgeting Appreciation of primary industries Banking and finance industries Referral options (including local networks) Principles of client empowerment/disempowerment Principles of farm success planning Principles of access and equity Policy, regulatory, legislative and legal requirements, including: Financial Services Reform Act State rural adjustment acts Privacy Act Political and economic context Current issues facing rural industries Principles and practices of ethics and values Principles and practices of confidentiality Court system Signs of mental health issues, including common indicators of suicide risk Working with people from culturally and linguistically diverse backgrounds, including Indigenous Australian culture Rural family culture and dynamics OHS issues relating to rural financial counselling |
Essential skills: It is critical that the candidate demonstrate the ability to: Apply model of work in a manner that demonstrates understanding of underpinning values and philosophies in rural financial counselling Read and interpret enterprise profit and loss statements Develop and use a referral network Engage in mediation with financial institutions Apply understanding of challenges of isolation for many rural enterprises Apply understanding of challenges for rural financial counsellors working in a rural context including issues around isolation Apply understanding of client issues, including making appropriate referrals for clients with signs of mental health issues |
Evidence Required
The evidence guide provides advice on assessment and must be read in conjunction with the Performance Criteria, Required Skills and Knowledge, the Range Statement and the Assessment Guidelines for this Training Package. | |
Critical aspects for assessment and evidence required to demonstrate this unit of competency: | The individual being assessed must provide evidence of specified essential knowledge as well as skills This unit is best assessed in the workplace or in a simulated workplace under the normal of range conditions Assessment should be gathered on one or more occasions but must reflect the normal range of client situations encountered in the workplace |
Access and equity considerations: | All workers in community services should be aware of access, equity and human rights issues in relation to their own area of work All workers should develop their ability to work in a culturally diverse environment In recognition of particular issues facing Aboriginal and Torres Strait Islander communities, workers should be aware of cultural, historical and current issues impacting on Aboriginal and Torres Strait Islander people Assessors and trainers must take into account relevant access and equity issues, in particular relating to factors impacting on Aboriginal and/or Torres Strait Islander clients and communities |
Context of and specific resources for assessment: | This unit can be assessed independently, however holistic assessment practice with other community services units of competency is encouraged Resources required for assessment of this unit include access to: an appropriate workplace where assessment can take place or simulation of realistic workplace setting for assessment |
Method of assessment: | In cases where the learner does not have the opportunity to cover all relevant aspects in the work environment, the remainder should be assessed through realistic simulations, projects, previous relevant experience or oral questioning on 'What if?' scenarios Assessment of this unit of competence will usually include observation of processes and procedures, oral and/or written questioning on Essential knowledge and skills and consideration of required attitudes Where performance is not directly observed and/or is required to be demonstrated over a 'period of time' and/or in a 'number of locations', any evidence should be authenticated by colleagues, supervisors, clients or other appropriate persons |
Range Statement
The Range Statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Add any 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. | |
Rural context includes: | Statutory framework within which work takes place Farms as business enterprises Political context, e.g. government policies and initiatives affecting rural adjustment Economic context, e.g. the current economic situation as it relates to and affects rural industries, profitability and sustainability Social issues relating to working with clients in the rural sector Technology issues relating to the rural environment Eligible rural enterprises Rural enterprises and workers including farmers, fishers, forestry and small business |
Models of work in the rural sector may include: | Options for development and decision support Farm visits Case management Working with families Early intervention/prevention Community development and education Risk identification Facilitating adjustment and change |
Stakeholders and representatives may include: | Banks/financial institutions Local governments Centrelink Peers and target group Families Local community Community organisations, including referral agencies Government representatives and service providers Peak industry bodies Management, colleagues, supervisor, team members Professional service providers (legal, accounting, agronomy, succession planning, financial advice, personal or emotional counselling) |
Underpinning values and philosophies include: | Profitable, competitive and sustainable rural industries Improving client self-reliance Respecting privacy and confidentiality Family sensitive approaches Community education Early intervention (before assets eroded) Delivery of appropriate services Facilitation of change and adjustment in the sector |
A commitment to access and equity principles includes: | A non-discriminatory approach to all people using the service, their family and friends, the general public and co-workers Ensuring the work undertaken takes account of and caters for differences including: cultural, physical, religious, economic, social Ensuring a flexible and responsive approach to client service, including in remote areas |
Social, cultural andlinguistic difference may relate to: | Different cultural and social contexts and backgrounds Cultural practices and preferences of Indigenous Australians The needs of people from non-English speaking backgrounds |
Sectors
Not Applicable
Employability Skills
This unit contains Employability Skills |
Licensing Information
Not Applicable