NTISthis.com

Evidence Guide: FNSPRM605A - Establish or review marketing, client services and supplier relationships

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

 

FNSPRM605A - Establish or review marketing, client services and supplier relationships

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

Establish or review marketing

  1. Marketing strategy is established or reviewed and marketing tools developed and made available within budget and timelines
  2. Marketing strategy is confirmed and implemented across the organisation or business unit
Marketing strategy is established or reviewed and marketing tools developed and made available within budget and timelines

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Marketing strategy is confirmed and implemented across the organisation or business unit

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Established or review supplier relationship

  1. Criteria to enable an effective evaluation of supplier services are established and all existing suppliers assessed against the criteria
  2. Availability and suitability of alternate suppliers who can meet the service support requirements within legislative requirements are identified and analysed
  3. Terms of appointment of suppliers to achieve service support requirements are established and relationships with suppliers maintained and developed
Criteria to enable an effective evaluation of supplier services are established and all existing suppliers assessed against the criteria

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Availability and suitability of alternate suppliers who can meet the service support requirements within legislative requirements are identified and analysed

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Terms of appointment of suppliers to achieve service support requirements are established and relationships with suppliers maintained and developed

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish or review client services

  1. Client services are determined which will meet client expectations, are within enterprise policy and philosophy, and meet industry legislative requirements
  2. Key performance indicators to measure customer service are established and existing client services reviewed against these and improved where required
  3. Service standards are documented in the prescribed format and communicated to all stakeholders
  4. Services are delivered within the timeframe and budget
Client services are determined which will meet client expectations, are within enterprise policy and philosophy, and meet industry legislative requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Key performance indicators to measure customer service are established and existing client services reviewed against these and improved where required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Service standards are documented in the prescribed format and communicated to all stakeholders

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Services are delivered within the timeframe and budget

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:

identify and address factors which may affect the marketing and performance of client services and assess risks and benefits associated with using a range of products and services within a practice

review suppliers and establish and maintain the required level of service

evaluate business systems against practice requirements and make recommendations

apply cost-benefit analyses to systems and procedures.

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 relevant legislation, regulations and codes of practice.

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/scenarios

evaluating samples of work

accessing and validating third party reports.

Guidance information for assessment

Required Skills and Knowledge

Required skills

highly developed communication skills to:

determine and analyse organisational marketing and client services, using questioning and active listening as required

liaise with peers, staff and external service providers, share information, listen and understand

use language and concepts appropriate to cultural differences

highly developed research skills for:

accessing and managing complex information from a wide variety of sources

interpreting complex data

coordinating multiple tasks across an organisation

highly developed literacy skills to read and interpret documentation from a variety of sources and produce high quality reports and organisational guidelines

IT skills for accessing and using appropriate software such as word processors, spreadsheets and databases and using internet information

management skills for working effectively in a constantly changing environment

interpersonal skills to establish rapport with peers, staff and clients

highly developed judgement skills for forming recommendations in senior organisational situations

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

well-developed problem solving skills to identify marketing strategies and client services that have the potential to impact on the practice and to develop options to resolve any issues if they arise

self-management skills for complying with ethical, legal and procedural requirements

learning skills to maintain knowledge of changes to compliance legislation and best practice management techniques

teamwork skills

high level project management skills

Required knowledge

financial practice administrative processes and systems

financial products, their characteristics and risk profile

financial practice professional services

marketing and advertising principles, techniques and tools

office IT systems and software

relevant acts, regulations and codes of practice impacting on the financial service industry

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.

Marketing tools (that may be impacted by regulation) include:

advertising

brochures and sales aids

client base development

direct marketing

focus groups

in-house publications

lead generation

market surveys

product marketing

public relations activities

reports

specialist contact software

sponsorship

telemarketing

using compliance materials.

Suppliers include:

accountants

actuaries

auditors

consultants

fund administrators

IT specialists

insurance companies

investment managers

legal professionals

other financial planning practices

risk managers

sales and marketing specialists

solicitors.

Supplier terms of appointment can be:

formal

informal.

Client services may be pre, point of, or post sale and may include:

appropriate personal contact

complaints handling

enquiries

policy changes

records management

reports

timely and accurate documentation

written communication.

Service standards may include:

accuracy rates

completion dates

data availability

document presentation

procedures

response times

staff communication.

Methods of communication may include:

at meetings

electronic

in writing

individual and group

verbal.