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Evidence Guide: FNSCRD403 - Manage and recover bad and doubtful debts

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

 

FNSCRD403 - Manage and recover bad and doubtful debts

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

Implement appropriate course of action to recover outstanding debt

  1. Review account history and determine appropriate recovery action based on account history
  2. Advise customers promptly of possible implications of outstanding debts and deal with any objections according to organisational guidelines and legislative requirements
  3. Document agreed payment arrangements accurately according to organisational system requirements
Review account history and determine appropriate recovery action based on account history

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Advise customers promptly of possible implications of outstanding debts and deal with any objections according to organisational guidelines and legislative requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Document agreed payment arrangements accurately according to organisational system requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Monitor and review effectiveness of recovery action

  1. Review customer accounts for their adherence to agreed payment arrangements
  2. Identify customers’ non-compliance with agreed arrangements and manage in accordance with organisational guidelines
  3. Involve internal stakeholders in review and monitoring process as required
Review customer accounts for their adherence to agreed payment arrangements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify customers’ non-compliance with agreed arrangements and manage in accordance with organisational guidelines

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Involve internal stakeholders in review and monitoring process as required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Re-assess account to determine eligibility for write-off

  1. Re-assess account to determine if it is appropriate for write-off as agreed payment arrangements have not been met
  2. Document recommendations for write-off and account closure, complying with legislation and organisational guidelines, that authorised personnel can action
Re-assess account to determine if it is appropriate for write-off as agreed payment arrangements have not been met

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Document recommendations for write-off and account closure, complying with legislation and organisational guidelines, that authorised personnel can action

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1. Implement appropriate course of action to recover outstanding debt

1.1 Review account history and determine appropriate recovery action based on account history

1.2 Advise customers promptly of possible implications of outstanding debts and deal with any objections according to organisational guidelines and legislative requirements

1.3 Document agreed payment arrangements accurately according to organisational system requirements

2. Monitor and review effectiveness of recovery action

2.1 Review customer accounts for their adherence to agreed payment arrangements

2.2 Identify customers’ non-compliance with agreed arrangements and manage in accordance with organisational guidelines

2.3 Involve internal stakeholders in review and monitoring process as required

3. Re-assess account to determine eligibility for write-off

3.1 Re-assess account to determine if it is appropriate for write-off as agreed payment arrangements have not been met

3.2 Document recommendations for write-off and account closure, complying with legislation and organisational guidelines, that authorised personnel can action

Required Skills and Knowledge

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1. Implement appropriate course of action to recover outstanding debt

1.1 Review account history and determine appropriate recovery action based on account history

1.2 Advise customers promptly of possible implications of outstanding debts and deal with any objections according to organisational guidelines and legislative requirements

1.3 Document agreed payment arrangements accurately according to organisational system requirements

2. Monitor and review effectiveness of recovery action

2.1 Review customer accounts for their adherence to agreed payment arrangements

2.2 Identify customers’ non-compliance with agreed arrangements and manage in accordance with organisational guidelines

2.3 Involve internal stakeholders in review and monitoring process as required

3. Re-assess account to determine eligibility for write-off

3.1 Re-assess account to determine if it is appropriate for write-off as agreed payment arrangements have not been met

3.2 Document recommendations for write-off and account closure, complying with legislation and organisational guidelines, that authorised personnel can action

Evidence of the ability to:

communicate effectively with customers, following organisational guidelines and legislative requirements in explaining the implications of outstanding debt and alternative payment arrangement options

apply strong negotiation skills to resolve disputes, queries and problems

use data entry and recording systems accurately.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

explain the key steps or actions in the legal debt recovery process

outline the key features of organisational credit policy

identify and explain legislative requirements relevant to debt recovery

describe the key features of complaint resolution processes and complaint handling procedures

outline the roles of the various alternative dispute resolution schemes and services

explain the key requirements of legislation relating to credit and recovery of bad debts.