This unit may be applied across all sectors of the financial services industry.

ELEMENT

PERFORMANCE CRITERIA

1. Identify opportunities for cross-selling of products and services

1.1. A range of communication and interpersonal skills are used to respond to an enquiry, identify customer needs and establish a relationship with the customer

1.2. Based on understanding of customer needs, further opportunities for providing the customers with additional products or services are identified with further information about the identified products and services accessed if required

2. Promote sales of products and services

2.1. Benefits and features of additional products or services are explained to the customer clearly and accurately

2.2. Product knowledge is used to match organisation products or services to the assessed customers' needs and a number of options offered

2.3. Compliance with relevant legislation, regulations and industry codes of practice of all options developed is checked

3. Refer sales/service to appropriate area

3.1. When a decision has been reached on sale of the product or service to be provided, documentation relating to the interaction is prepared for processing

3.2. Customer is informed of the reasons why referral to other personnel is required if this needs to occur

Required skills

communication skills to:

determine and confirm customer requirements, using questioning and active listening as required

sell products and services

refer customers and 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

literacy skills for analysing information and products to ensure appropriateness to customer needs, currency and accuracy

interpersonal skills to establish rapport with customers and to liaise with other team members

problem solving skills to address customer product or service issues

teamwork skills

organisational skills, including the ability to plan and sequence work

Required knowledge

customer relation building techniques

financial products and services offered by or through an organisation

finance industry and organisational policies and procedures

organisational complaints procedures

product knowledge including:

the range of products

features of each:

interest rates

term

special packages

relevant legislation and potential/actual impact on information requested or provided

selling techniques

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:

interact with customers and identify cross-selling opportunities

clearly explain additional products and services that may be beneficial to customers, and provide options based on the customer's needs in line with relevant legislation, regulations and industry codes of practice

refer customers to other appropriate sections of the organisation, if required.

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

observing processes and procedures in workplaces or role plays

verbal or written questioning on underpinning knowledge and skills

setting and reviewing workplace projects and business simulations or scenarios

accessing and validating third party reports.

Guidance information for assessment

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.

Communication and interpersonal skills may include:

empathising with customers needs

establishing rapport

listening and questioning techniques

remembering customer details such as name and special interests.

Customer needs may include:

special needs of people from different cultural backgrounds, aged and those with a disability in relation to additional products and services

financial, insurance, banking or other financial services or products.

Organisation products and services may include:

those provided by the organisation such as:

savings

investment

loans

travel

superannuation

insurance

other services.

Legislation, regulations may include:

Australian Competition and Consumer Commission (ACCC)

consumer:

Consumer Credit Code

Privacy Act

secrecy laws

codes of practice

prudential:

Bills of Exchange Act

Cheques and Payment Orders Act

Credit Reference Association of Australia (CRAA)

Electronic Funds Transfer (EFT) Code of Conduct

Financial Institutions (FI) Code

Financial Transaction Reports Act.

Documentation may include:

application forms for opening accounts for products and services.

Unit sector

Sales and marketing

This unit contains employability skills.