Application
This unit describes the skills and knowledge required to diagnose small business customer needs and identify, match and communicate banking products and services to reflect these requirements.
It applies to individuals who provide specialised knowledge and/or diagnose and problem solve to recommend customised solutions for a diverse range of clients.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Elements and Performance Criteria
ELEMENT | PERFORMANCE CRITERIA |
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Identify and forecast small business customer needs and wants | 1.1 Conduct segmentation analysis of small business market, and identify and analyse operating environments of small business segments 1.2 Identify and analyse impact of small business segment environment on their current and future banking needs 1.3 Track and monitor needs and wants of small business customer 1.4 Analyse results of marketing and communications campaigns targeted to small businesses to identify successful strategies |
2. Identify product and service options for small business customers | 2.1 Analyse current customer usage patterns of the organisation’s small business customer categories 2.2 Identify products and services used by segments of small business customers and analyse their benefits 2.3 Design new products and services, tailored to small business customer segments, and negotiate their implementation in accordance with the organisation’s business rules and processes |
3. Communicate service benefits to small business customers | 3.1 Identify and analyse preferred and optimum communication strategies and vehicles to influence small business segments 3.2 Plan and implement communications campaigns to match products and services to identified small business segments 3.3 Plan and monitor strategies to support routine and ongoing communications with small business segments 3.4 Brief and coach customer service staff in timely and effective manner on purpose of communication campaigns |
4. Manage performance of products, services and communications for small business customers | 4.1 Identify, communicate and monitor performance indicators, and analyse reports against targets using standard protocols and procedures 4.2 Analyse exception or feedback reports and establish processes to rectify faults or capitalise on opportunities 4.3 Develop, implement and monitor strategies to support continuous improvement of small business products, services and communications |
Evidence of Performance
Evidence of the ability to:
analyse and segment the small business market and identify effective and commercially successful products to meet the varying needs of market segments
construct effective communications campaigns and monitor their success
meet the key performance indicators for small business engagement and business growth.
Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.
Evidence of Knowledge
To complete the unit requirements safely and effectively, the individual must:
analyse the key customer motivations, needs and wants
compare and contrast financial products and services and their benefits and applications
describe the key features of legislation and regulation relevant to small business customers, covering:
financial services reform
privacy
competition and consumer issues
company law
outline the role of market research in aligning banking products and services to the needs of small business customers
describe the key features of organisational systems, policy, procedures and protocols relevant to small business customers
discuss the key principles of small business engagement and portfolio management.
Assessment Conditions
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the banking field of work and include access to:
office equipment, technology, software and consumables
financial services product information
organisational policy and practices for providing services to small business customers.
Assessors must satisfy NVR/AQTF assessor requirements.
Foundation Skills
This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.
Skill | Performance Criteria | Description |
Reading | 1.1-1.4, 2.1, 4.1, 4.2 | Researches and analyses key features of detailed information from a range of sources to address specific criteria, identify trends and gaps, and develop recommendations |
Writing | 1.3, 2.3, 3.2, 3.4, 4.1 | Records information and prepares reports using appropriate formats and structures to present information logically Uses clear and detailed language, incorporating correct spelling, grammar and terminology, to convey accurate information and recommendations |
Oral Communication | 2.3, 3.2, 3.4, 4.1 | Participates in a verbal exchanges of information, clearly articulating recommendations using language, tone and pace appropriate to the audience and purpose Uses active listening and questioning techniques to elicit the views and opinions of others and to confirm understanding |
Numeracy | 2.1, 4.1 | Uses mathematical equations to perform calculations and comparisons of financial and numerical information |
Navigate the world of work | 4.1 | Recognises and follows business rules and protocols, and meets expectations associated with own role |
Interact with others | 1.1-1.4, 2.1-2.3, 3.1-3.4, 4.1-4.3 | Recognises the importance of building rapport to establish and maintain effective working relationships Adopts appropriate communication strategies when directing and teaching others to show respect for their values, beliefs and cultural expectations |
Get the work done | 1.1-1.4, 2.1-2.3, 3.1-3.4, 4.1-4.3 | Sequences and schedules complex activities, monitors implementation and manages relevant communication Analyses information and data in reports and from research to develop ideas and solutions that meet customer needs Identifies issues that have the potential to impact on the business and develops options to resolve these issues when they arise Uses a range of digitally based technologies and software packages, including spreadsheets, databases and the internet |
Sectors
Banking