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

ELEMENT

PERFORMANCE CRITERIA

1. Monitor implementation of sales policies and procedures

1.1. Implementation of organisation policies and procedures in regard to selling of financial products or services is monitored

1.2. Implementation of organisation's policies and procedures in regard to transactions including non-cash transactions and variations to standard transactions is monitored

1.3. Information relating to sales of financial products and services is accurately recorded and products and services sold monitored to ensure that they are matched to customer needs with remedial action taken where deficiencies are identified

2. Monitor implementation of customer service standards

2.1. Customer service standards are measured according to organisation's policies and procedures with remedial action taken where deficiencies are identified

2.2. Feedback to team members is provided in relation to customer service provision and quality on a regular basis in accordance with organisation policies and procedures

3. Monitor achievement of sales targets

3.1. Sales results are recorded to assist with monitoring achievement of sales targets

3.2. Individual and branch sales targets are monitored and recorded according to organisation policies and procedures

3.3. Feedback is provided to management and staff on sales performance in relation to sales targets and planning

Required skills

highly-developed communication skills to:

provide comprehensive service quality feedback to sales personnel, using questioning and active listening as required

present sales and quality service information to groups and management

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

managing information on the sales process

well-developed literacy skills to:

analyse information and products to evaluate sales and compliance with quality service standards

report on and document sales and service outcomes

well-developed leadership skills

well-developed analysis and decision making skills

problem solving skills to address market product or service issues

organisational skills, including the ability to plan and sequence work

Required knowledge

customer relations and service techniques

industry codes of practice and regulations, including:

Consumer Credit Code

Privacy Act

Credit Union Code of Practice

Financial Institutions (FI) Code

organisation policies and procedures in regard to selling products and services

product knowledge, including:

product/account and service range

branch/department sales targets

factors that enhance sales performance

importance of sales to performance

relevant legislation and statutory requirements including relevant consumer law

sales techniques

the structure of the financial services industry

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:

monitor the sales of an organisation including the implementation of the policies and procedures

evaluate customer service standards and the achievement of sales targets

provide clear feedback and advice on sales and quality customer service to personnel and management.

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

verbal or written questioning on underpinning knowledge and skills

setting and reviewing workplace projects and business simulations or scenarios

evaluating samples of work

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.

Organisation policies and procedures may include:

customer service strategy

marketing plans

marketing strategy

quality standards for sales and service performance.

Customer service standards may be:

specific to individual organisations.

Sales targets may vary:

according to experience and training of staff and branch/department

targets and size

type and location of branch.

Unit sector

Sales and marketing

This unit contains employability skills.