NTISthis.com

Evidence Guide: CHCFIN003 - Develop and use financial counselling tools and techniques

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

CHCFIN003 - Develop and use financial counselling tools and techniques

What evidence can you provide to prove your understanding of each of the following citeria?

Elements define the essential outcomes

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Clarify client’s financial position

  1. Review and use client information to inform preparation of a statement of assets and liabilities for the client
  2. Work with the client to prepare a statement of income and expenditure in line with their immediate and ongoing financial situation
  3. Identify and clarify for the client the different elements of their financial position
Review and use client information to inform preparation of a statement of assets and liabilities for the client

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Work with the client to prepare a statement of income and expenditure in line with their immediate and ongoing financial situation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and clarify for the client the different elements of their financial position

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop and use advocacy and negotiation tools

  1. Develop written tools for use in advocacy and negotiation according to organisation protocol
  2. Identify and source existing standardised resources for use in advocacy
  3. Apply appropriate negotiation tools and techniques to advocate and negotiate on behalf of client
  4. Undertake telephone and face-to-face negotiations as required to meet and/or improve client’s financial position
  5. Obtain third party authority to act on behalf of client in appropriate format
  6. Collect and use appropriate documentation to support the advocacy process
Develop written tools for use in advocacy and negotiation according to organisation protocol

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and source existing standardised resources for use in advocacy

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Apply appropriate negotiation tools and techniques to advocate and negotiate on behalf of client

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Undertake telephone and face-to-face negotiations as required to meet and/or improve client’s financial position

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Obtain third party authority to act on behalf of client in appropriate format

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Collect and use appropriate documentation to support the advocacy process

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Collect and develop resources and provide to clients

  1. Use standard checklists to develop and review resource materials that contain relevant and current information
  2. Maintain currency and completeness of available resources
  3. Prepare resources as a basis for addressing duty of care requirements when undertaking financial counselling with clients
  4. Provide client with relevant, clear and targeted resource materials to inform and assist the client to improve their financial position
  5. Undertake research as a basis for preparing an information package on client issues for their later reference
  6. Ensure written materials are written in a succinct and clear way and are presented logically and sequentially to match third party needs with client objectives
  7. Ensure all written documentation produced addresses financial counselling sector standards and practices
Use standard checklists to develop and review resource materials that contain relevant and current information

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Maintain currency and completeness of available resources

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare resources as a basis for addressing duty of care requirements when undertaking financial counselling with clients

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide client with relevant, clear and targeted resource materials to inform and assist the client to improve their financial position

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Undertake research as a basis for preparing an information package on client issues for their later reference

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure written materials are written in a succinct and clear way and are presented logically and sequentially to match third party needs with client objectives

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure all written documentation produced addresses financial counselling sector standards and practices

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Clarify client’s financial position

  1. Review and use client information to inform preparation of a statement of assets and liabilities for the client
  2. Work with the client to prepare a statement of income and expenditure in line with their immediate and ongoing financial situation
  3. Identify and clarify for the client the different elements of their financial position
Review and use client information to inform preparation of a statement of assets and liabilities for the client

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Work with the client to prepare a statement of income and expenditure in line with their immediate and ongoing financial situation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and clarify for the client the different elements of their financial position

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENT

PERFORMANCE CRITERIA

Elements define the essential outcomes

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Clarify client’s financial position

1.1 Review and use client information to inform preparation of a statement of assets and liabilities for the client

1.2 Work with the client to prepare a statement of income and expenditure in line with their immediate and ongoing financial situation

1.3 Identify and clarify for the client the different elements of their financial position

2. Develop and use advocacy and negotiation tools

2.1 Develop written tools for use in advocacy and negotiation according to organisation protocol

2.2 Identify and source existing standardised resources for use in advocacy

2.3 Apply appropriate negotiation tools and techniques to advocate and negotiate on behalf of client

2.4 Undertake telephone and face-to-face negotiations as required to meet and/or improve client’s financial position

2.5 Obtain third party authority to act on behalf of client in appropriate format

2.6 Collect and use appropriate documentation to support the advocacy process

3. Collect and develop resources and provide to clients

3.1 Use standard checklists to develop and review resource materials that contain relevant and current information

3.2 Maintain currency and completeness of available resources

3.3 Prepare resources as a basis for addressing duty of care requirements when undertaking financial counselling with clients

3.4 Provide client with relevant, clear and targeted resource materials to inform and assist the client to improve their financial position

3.5 Undertake research as a basis for preparing an information package on client issues for their later reference

3.6 Ensure written materials are written in a succinct and clear way and are presented logically and sequentially to match third party needs with client objectives

3.7 Ensure all written documentation produced addresses financial counselling sector standards and practices

Required Skills and Knowledge

ELEMENT

PERFORMANCE CRITERIA

Elements define the essential outcomes

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Clarify client’s financial position

1.1 Review and use client information to inform preparation of a statement of assets and liabilities for the client

1.2 Work with the client to prepare a statement of income and expenditure in line with their immediate and ongoing financial situation

1.3 Identify and clarify for the client the different elements of their financial position

2. Develop and use advocacy and negotiation tools

2.1 Develop written tools for use in advocacy and negotiation according to organisation protocol

2.2 Identify and source existing standardised resources for use in advocacy

2.3 Apply appropriate negotiation tools and techniques to advocate and negotiate on behalf of client

2.4 Undertake telephone and face-to-face negotiations as required to meet and/or improve client’s financial position

2.5 Obtain third party authority to act on behalf of client in appropriate format

2.6 Collect and use appropriate documentation to support the advocacy process

3. Collect and develop resources and provide to clients

3.1 Use standard checklists to develop and review resource materials that contain relevant and current information

3.2 Maintain currency and completeness of available resources

3.3 Prepare resources as a basis for addressing duty of care requirements when undertaking financial counselling with clients

3.4 Provide client with relevant, clear and targeted resource materials to inform and assist the client to improve their financial position

3.5 Undertake research as a basis for preparing an information package on client issues for their later reference

3.6 Ensure written materials are written in a succinct and clear way and are presented logically and sequentially to match third party needs with client objectives

3.7 Ensure all written documentation produced addresses financial counselling sector standards and practices

The candidate must show evidence of the ability to complete tasks outlined in elements and performance criteria of this unit, manage tasks and manage contingencies in the context of the job role. There must be evidence that the candidate has:

performed the activities outlined in the performance criteria of this unit during a period of 220 hours of work in a financial counselling agency that has met the requirements for the Australian Securities and Investments Commission (ASIC) exemption from a financial services or credit licence

developed financial resources for at least 5 different clients including:

statement of financial position

documented case/action plan

researched and developed all of the following financial resources:

income and expenditure statements

assets and liabilities statements

advocacy resources

advocated for clients via each of the following mediums:

telephone

in writing:

letters, and

complaints to Internal Dispute Resolution (IDR)/External Dispute Resolution (EDR)

face-to-face.

The candidate must be able to demonstrate essential knowledge required to effectively complete tasks outlined in elements and performance criteria of this unit, manage tasks and manage contingencies in the context of the work role. This includes knowledge of:

legal and ethical considerations (national, state/territory) for resource development, and how these are applied in organisations and individual practice:

duty of care

informed consent

policy frameworks:

social

economic

government programs

practice standards

privacy, confidentiality and disclosure

records management

rights and responsibilities of workers, employers and clients:

scope and limitations of financial counsellor role

specific legislation impacting financial counselling, including:

advocacy legislation

ASIC class order 03/1063 and how this applies to the work of financial counsellors and their agencies

ASIC class order 11/926 and how this applies to rural financial counsellors

work role boundaries – responsibilities and limitations

agency policies and procedures for resource development

hardship systems and framework for resource development:

tools to access grants for energy relief

complaints to dispute resolution schemes

use of codes of practice in advocacy

use of Credit Law tools in advocacy letters

use of Australian Consumer Law (ACL) in advocacy letters

standard legal letters developed by financial counselling sector

models for preparing financial statements and budgets:

use of Financial Counselling Australia/Australian Bankers Association (ABA) agreed statement of financial position

use of Money Smart resources (ASIC)

use of MoneyHelp resources for each state/territory, phone 1800 007 007

types of advocacy resources developed in a financial counselling context

resource development, including:

how to adapt resources for client use

sourcing and developing appropriate tools to inform clients

use of programs for consumer education

financial statements, including:

use of appropriate format agreed to by Financial Counselling Australia (FCA)

appropriate advocacy letters including summarised financial information

support networks and sources of local information for clients to assist them to access additional services without direct referral.