Application
This unit describes the skills and knowledge required to identify customer needs and process customer financial accounts.
It applies to individuals who use organisational skills and specialised knowledge to perform clerical services, maintain financial records and respond to a range of customers.
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 customer account needs | 1.1 Address requests for information on range, options and features of account services available in timely, accurate and comprehensive manner, or refer if necessary to other authorised personnel 1.2 Provide information to customers to assist in selection of appropriate product which outlines product features, matches products to customer needs, and describes cost of operation and conditions of accounts 1.3 Assist customers when completing relevant documentation for selected services and products |
2. Open customer account | 2.1 Interview potential account holders to gather information required for opening of accounts, with applicant identified for security purposes according to organisational procedures 2.2 Assess information provided for accuracy and sufficiency according to standard organisational procedures 2.3 Verify completed documentation for accuracy and accept deposits, ensuring that receipts and certificates are issued 2.4 Process new applications and transactions in accordance with organisational policy and procedures to ensure timely and accurate completion of task 2.5 Provide information to customer about processes for activating account, including timeframe and mechanisms for receiving transaction cards or deposit books and most cost effective way to use account |
3. Transfer or close customer account | 3.1 Interview account holder seeking to transfer or close account to gather required information which is assessed for accuracy and sufficiency according to standard organisational procedures 3.2 Verify completed documentation for accuracy and process applications for transfer or closure in accordance with organisational policy and procedures to ensure timely and accurate completion of task 3.3 Provide information about finalisation of process in accordance with organisational policy and procedures |
4. Administer the process | 4.1 Use standard organisational processes and protocols to verify customer identity when collecting processed documentation and cards from branch 4.2 Follow up customer queries or complaints about operation of service with appropriate personnel according to standard procedures 4.3 Provide reports on account activity in line with standard policy and procedures, and respond to any exception reports |
Evidence of Performance
Evidence of the ability to :
provide information to customers and respond to customer requests
check customer details and verify customer in accordance with organisational customer identification process
process customer account accurately and in accordance with organisational policy and procedures
provide information about account activation timeframes and processes for receiving account documentation
assist customer with completion of documentation and information about accessing and transferring funds, and transferring or closing an account
maintain and apply knowledge of the range of products, features and fees.
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:
describe the key financial account products available and their features and fees
describe the key features of policies and procedures in regard to customer account service and techniques
describe the key features of relevant industry codes of practice and legislation, incorporated in organisational policy and procedures covering:
consumer credit
electronic funds transfer
privacy
financial transactions and reporting
security and fraud
outline the key steps and reasons for verifying customer identity and security checking procedures
identify the key operational features and maintenance requirements of relevant equipment.
Assessment Conditions
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the financial retail services field of work and include access to:
common office equipment, technology, software and consumables
financial product information
integrated transaction system and data.
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, 2.2, 2.3, 3.2 | Accesses information from a range of sources and interprets documents to confirm and determine requirements Checks information for authenticity, accuracy and completeness |
Writing | 1.1-1.3, 2.3, 2.5, 3.3, 4.3 | Correctly records information and completes forms, checking for accuracy of information and data Prepares correspondence using appropriate formats and protocols |
Oral Communication | 1.1-1.3, 2.1, 2.5, 3.1, 3.3, 4.1 | Participates in verbal exchanges, using active listening and questioning to determine requirements and respond to queries Clearly explains and clarifies information, using language, tone and pace appropriate to the audience and purpose |
Numeracy | 1.2, 1.3, 2.2, 2.3 | Uses mathematical equations to calculate premiums and repayment rates, and to check accuracy of transactions |
Navigate the world of work | 2.1, 2.2, 2.4, 3.1, 3.2, 3.3, 4.1, 4.2, 4.3 | Takes personal responsibility for following explicit and implicit organisational policy and procedures related to customer account processing and service standards within own role |
Interact with others | 1.3, 2.1, 3.1, 4.2 | Selects and uses appropriate protocols and conventions to communicate with colleagues and customers in the conduct of a service based relationship Implements strategies to moderate conflict and resolve customer issues |
Get the work done | 1.1, 1.2, 1.3, 2.1, 2.3, 2.4, 2.5, 3.1, 3.2, 4.1, 4.2, 4.3 | Takes responsibility for planning, sequencing and prioritising tasks and own workload for efficiency and effective outcomes Responds to predictable routine problems by implementing standard or logical solutions, recognising when to seek input from others Uses the main features and functions of digital tools to complete work tasks |
Sectors
Financial retail services