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Evidence Guide: FNSBNK503A - Provide business advisory services within a financial services context

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

 

FNSBNK503A - Provide business advisory services within a financial services context

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

Contribute to the identification of business opportunities

  1. Business relationships with community members and business developers are fostered over time
  2. The attributes, service needs and wants of business customers are identified as a basis for tailoring communications and services
  3. Support and advice is provided to the potential business operator or customer in evaluating potential business opportunities and support and advice is provided in identifying the market potential of the business opportunity
  4. Support and advice is provided to the potential business operator or customer in identifying the financial, infrastructure and human resources required to realise the business opportunity
Business relationships with community members and business developers are fostered over time

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

The attributes, service needs and wants of business customers are identified as a basis for tailoring communications and services

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Support and advice is provided to the potential business operator or customer in evaluating potential business opportunities and support and advice is provided in identifying the market potential of the business opportunity

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Support and advice is provided to the potential business operator or customer in identifying the financial, infrastructure and human resources required to realise the business opportunity

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide advice about the development of business plans and financing proposals

  1. The requirements and structure of a business plan are communicated to the customer
  2. Advice is provided regarding the development of a comprehensive business plan and its implementation
  3. Advice is provided regarding the development of a proposal for financing of the business initiative which meets the guidelines and requirements of the organisation
  4. Advice is provided about the benefits of accessing other relevant business professionals to ensure the business venture has the appropriate structure and is compliant with relevant legislation
The requirements and structure of a business plan are communicated to the customer

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Advice is provided regarding the development of a comprehensive business plan and its implementation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Advice is provided regarding the development of a proposal for financing of the business initiative which meets the guidelines and requirements of the organisation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Advice is provided about the benefits of accessing other relevant business professionals to ensure the business venture has the appropriate structure and is compliant with relevant legislation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide high level and tailored business banking solutions and service

  1. Potential or current usage patterns of the business are analysed and effective service and product options are identified
  2. The business banking needs are ascertained and evaluated and products to manage the business cash flow identified, rates negotiated, modelled and sold
  3. Products to support the financial transactions of the business are identified, modelled and sold
  4. Products to support the borrowing needs of the business are identified, modelled and sold
  5. Products to support the leasing needs of the business are identified, modelled and sold
  6. Banking services that assist with the efficient management and statutory reporting of the business are identified and implemented
  7. Service delivery to the business customer by other departments or units across the organisation are coordinated
Potential or current usage patterns of the business are analysed and effective service and product options are identified

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

The business banking needs are ascertained and evaluated and products to manage the business cash flow identified, rates negotiated, modelled and sold

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Products to support the financial transactions of the business are identified, modelled and sold

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Products to support the borrowing needs of the business are identified, modelled and sold

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Products to support the leasing needs of the business are identified, modelled and sold

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Banking services that assist with the efficient management and statutory reporting of the business are identified and implemented

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Service delivery to the business customer by other departments or units across the organisation are coordinated

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

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:

form strong business relationships with individuals and communities

effectively develop business opportunities

match financial products, solutions and services to meet the specific needs of business customers

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

access to an integrated financial software system and data

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

evaluating samples of work

accessing and validating third party reports.

Guidance information for assessment

Required Skills and Knowledge

Required skills

well-developed communication skills to:

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

engage with business communities

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

well-developed interpersonal skills to establish and maintain relationships with business communities

research and analysis for accessing, interpreting and managing complex information

well-developed problem solving skills to identify any issues that have the potential to impact on business customerservices and develop options to resolve these issues when they arise

literacy skills for:

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

producing written reports and customer business planning advice

numeracy skills to:

accurately analyse, record and store data in accordance with organisational requirements

evaluate business proposals and opportunities

produce financial models

IT skills for accessing and using appropriate software such as databases and using internet information

planning, organisational and time management skills to sequence tasks, meet timelines and arrange meetings

quality control and continuous improvement skills

Required knowledge

business planning tools and techniques

cultural practices and community needs

financial products and services and their benefits and applications

organisation systems, policies, procedures and protocols

principles of customer relationship marketing

Range Statement

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.

Community members and business developers may be:

developing commercial and for-profit business opportunities as individuals

or

may be seeking development of a business opportunity on behalf of the community to, for example, generate employment and develop skills in addition to provide a net financial return.

Market potential is determined by:

the capacity of the business to reach and service the target market in a cost-effective manner

the number of competitors in the market place

the potential size of the target market

the quality and value of the business initiative.

A business plan can be developed using hardcopy or software templates and may include:

a description of the product, service or venture

an analysis of the business environment including competitors and the sizing of potential markets

an analysis of the fixed and variable costs associated with the initiative

an analysis of the strengths, weaknesses, opportunities and threats (SWOT) to the business operator and business initiative

funding needs

initial set-up costs

projected sales volumes, cash flow and costs over time.

Related business professionals include:

accountants

lawyers

venture capital providers

business information and support services such as business incubators

business consultants

marketing consultants.

Products to assist with business cash flow management include:

overdrafts

commercial bills

other credit facilities.

Products to assist with efficient management of financial transactions include:

interest bearing accounts

off-set business mortgages

statutory trust accounts

access to night safes.

Products to assist with borrowing needs include:

business credit cards

business loans

commercial bills

hire purchase.

Products to assist with leasing include:

business leases

novated leases.

Services to support the efficient management and statutory reporting of businesses include:

credit card services to manage business and travel expenses

information to support Fringe Benefit Tax (FBT) payment and reporting

information to support Goods and Services Tax (GST) payment and reporting.