Application
This unit describes the skills and knowledge required to liaise with clients and respond to specific enquiries about membership, superannuation procedure options and products offered by the organisation.
It applies to individuals who build relationships and use specialised industry knowledge to respond to enquiries and assist clients with complex needs and requirements.
Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
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. Establish relationship with clients | 1.1 Use most appropriate method of communication to establish nature of client enquiry 1.2 Access client records as required 1.3 Inform clients of role of organisation 1.4 Explain to clients the relationship of superannuation organisation to other financial services 1.5 Explain to clients the role and limits of authority of representative 1.6 Identify clients with special needs and take appropriate action or make referral 1.7 Maintain client confidentiality in accordance with organisational procedures, legislation and industry codes of practice |
2. Inform clients of superannuation process | 2.1 Explain government regulations and requirements for superannuation to clients 2.2 Outline processes and options for fund administration to clients 2.3 Identify features and benefits of different types of funds and explain to clients |
3. Explain superannuation products and options offered by organisation or specific fund | 3.1 Outline to clients the features, benefits and implications of products offered by organisation, or specific fund offered by organisation 3.2 Explain to clients the ancillary benefits, facilities and options available in organisation, or specific fund offered by organisation 3.3 Explain to clients the fees and charges associated with organisation’s funds or products 3.4 Discuss procedures for complaint handling and resolution with clients |
4. Assist with enquiries | 4.1 Explain conditions associated with being a member of a fund 4.2 Explain procedure for and implications of membership changes to clients 4.3 Check client understanding of conditions and procedures 4.4 Implement client requests for membership changes |
5. Identify areas of advice outside authority area | 5.1 Identify limits of authority to provide information to clients using organisational guidelines 5.2 Identify clients requiring advice outside authority area 5.3 Identify organisation’s specialist services resources and/or contacts 5.4 Advise clients to seek specialist services advice to assist with planning-related enquiries and decisions |
6. Provide and/or record necessary documentation where required | 6.1 Provide clients with organisation’s information materials according to their information needs 6.2 Use other organisational information resources to provide product and/or service and/or referral related information to clients if required 6.3 Create and/or update client records where necessary 6.4 File client documentation, information and histories in format and location readily accessible to other appropriate personnel |
Evidence of Performance
Evidence of the ability to:
establish relationship with clients
inform clients of the superannuation process and products, and respond to queries
refer clients to other organisations or service providers outside areas of authority
comply with all record and documentation requirements
comply with role and advisory capacity limits.
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 main features of different types of funds
describe the key characteristics and structure of a superannuation product
explain a range of superannuation features and concepts, including:
preservation rules
benefit payments and expenses
rollovers
retirement income stream products and associated risks
investment strategies within superannuation funds
restrictions on investment strategies
franking credits
capital gains tax (CGT) treatment
tax deductions
death benefits processes
outline the structure of superannuation plans management and administration of superannuation products
outline organisational policy and procedures, and complaints handling processes
outline the process for:
dealing with employer and employee contributions
fee structures/administration and management costs
outline key features of relevant legal principles and legislation relating to:
corporations
Australian Securities and Investments Commission (ASIC)
privacy
financial services reform
codes of practice
outline the roles played by intermediaries and issuers
explain the role of the representative.
Assessment Conditions
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the superannuation field of work and include access to:
common office equipment, technology, software and consumables
organisational financial records
organisational policy and procedures.
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, 1.2, 1.6, 5.2-5.4 | Evaluates information and products from a variety of sources to ensure appropriateness to client needs |
Writing | 1.1-1.5, 2.1-2.3, 3.1-3.4, 4.1-4.3, 5.1, 6.1, 6.2 | Accurately records information, and prepares correspondence and documentation using clear language and organisational formats and protocols |
Oral Communication | 1.1-1.5, 2.1-2.3, 3.1-3.4, 4.1-4.3, 5.1, 6.1 | Effectively participates in verbal exchanges using collaborative and inclusive techniques, including active listening and questioning, to convey and clarify information Clearly explains detailed information using language, tone and pace appropriate to audience |
Numeracy | 2.2, 2.3, 3.1-3.3, 4.2, 6.1-6.3 | Performs mathematical calculations to interpret and compare financial data and information |
Navigate the world of work | 1.7, 3.2, 5.1 | Takes full responsibility for following policies, procedures and legislative requirements, and identifies the organisational implications of new legislation or regulation |
Interact with other | 1.1-1.7, 2.1-2.3, 3.1-3.4, 4.1-4.3, 5.4, 6.1-6.2 | Implements strategies for a diverse range of colleagues and clients to build rapport and foster strong relationships Collaborates with others to build strong work groups and avoids behaviours that are not conducive to a productive environment Elicits feedback and provides feedback to clients Recognises behaviours and triggers that contribute to conflict and implements strategies to moderate conflict |
Get the work done | 1.1, 1.2, 1.6, 1.7, 4.4, 6.3, 6.4 | Accepts responsibility for planning and sequencing complex tasks and workload, negotiating key aspects with others and taking into account capabilities, efficiencies and effectiveness Applies systematic and analytical decision-making processes for complex and non-routine situations Responds intuitively to problems requiring immediate resolution, drawing on past experiences Uses a range of digitally based technologies to enter, access or update information to achieve required outcomes |
Sectors
Superannuation