Assessor Resource

CHCFIN504A
Work effectively in rural financial counselling

Assessment tool

Version 1.0
Issue Date: May 2024


This unit refers to the delivery of financial counselling services to clients in a rural context

In order to qualify for the ASIC exemption from the delivery of financial service contained in the Financial Services Reform Amendment Act (2003) a financial counsellor must be eligible for membership of the financial counselling association recognised in their State or Territory

Financial counselling operates from a strengths-based and client-focused model

This unit describes the knowledge and skills required for a financial counsellor to work effectively in a rural financial counselling context

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)

Prerequisites

Pre-requisites

This unit must be assessed after successful achievement of the following related units:

CHCFIN501A Identify and apply technical information to assist clients with financial issues

CHCFIN502A Facilitate the financial counselling process

CHCFIN503A Develop and use financial counselling tools and techniques


Employability Skills

This unit contains Employability Skills




Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

The evidence guide provides advice on assessment and must be read in conjunction with the Performance Criteria, Required Skills and Knowledge, the Range Statement and the Assessment Guidelines for this Training Package.

Critical aspects for assessment and evidence required to demonstrate this unit of competency:

The individual being assessed must provide evidence of specified essential knowledge as well as skills

This unit is best assessed in the workplace or in a simulated workplace under the normal of range conditions

Assessment should be gathered on one or more occasions but must reflect the normal range of client situations encountered in the workplace

Access and equity considerations:

All workers in community services should be aware of access, equity and human rights issues in relation to their own area of work

All workers should develop their ability to work in a culturally diverse environment

In recognition of particular issues facing Aboriginal and Torres Strait Islander communities, workers should be aware of cultural, historical and current issues impacting on Aboriginal and Torres Strait Islander people

Assessors and trainers must take into account relevant access and equity issues, in particular relating to factors impacting on Aboriginal and/or Torres Strait Islander clients and communities

Context of and specific resources for assessment:

This unit can be assessed independently, however holistic assessment practice with other community services units of competency is encouraged

Resources required for assessment of this unit include access to:

an appropriate workplace where assessment can take place or simulation of realistic workplace setting for assessment

Method of assessment:

In cases where the learner does not have the opportunity to cover all relevant aspects in the work environment, the remainder should be assessed through realistic simulations, projects, previous relevant experience or oral questioning on 'What if?' scenarios

Assessment of this unit of competence will usually include observation of processes and procedures, oral and/or written questioning on Essential knowledge and skills and consideration of required attitudes

Where performance is not directly observed and/or is required to be demonstrated over a 'period of time' and/or in a 'number of locations', any evidence should be authenticated by colleagues, supervisors, clients or other appropriate persons


Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)


Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

This describes the essential skills and knowledge and their level required for this unit.

Essential knowledge:

The candidate must be able to demonstrate essential knowledge required to effectively do the task outlined in elements and performance criteria of this unit, manage the task and manage contingencies in the context of the identified work role

These include knowledge of:

Commonly used farm business structures

Principles of farm enterprise business planning

Thorough knowledge of cash flow budgeting

Appreciation of primary industries

Banking and finance industries

Referral options (including local networks)

Principles of client empowerment/disempowerment

Principles of farm success planning

Principles of access and equity

Policy, regulatory, legislative and legal requirements, including:

Financial Services Reform Act

State rural adjustment acts

Privacy Act

Political and economic context

Current issues facing rural industries

Principles and practices of ethics and values

Principles and practices of confidentiality

Court system

Signs of mental health issues, including common indicators of suicide risk

Working with people from culturally and linguistically diverse backgrounds, including Indigenous Australian culture

Rural family culture and dynamics

OHS issues relating to rural financial counselling

Essential skills:

It is critical that the candidate demonstrate the ability to:

Apply model of work in a manner that demonstrates understanding of underpinning values and philosophies in rural financial counselling

Read and interpret enterprise profit and loss statements

Develop and use a referral network

Engage in mediation with financial institutions

Apply understanding of challenges of isolation for many rural enterprises

Apply understanding of challenges for rural financial counsellors working in a rural context including issues around isolation

Apply understanding of client issues, including making appropriate referrals for clients with signs of mental health issues

The Range Statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Add any 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.

Rural context includes:

Statutory framework within which work takes place

Farms as business enterprises

Political context, e.g. government policies and initiatives affecting rural adjustment

Economic context, e.g. the current economic situation as it relates to and affects rural industries, profitability and sustainability

Social issues relating to working with clients in the rural sector

Technology issues relating to the rural environment

Eligible rural enterprises

Rural enterprises and workers including farmers, fishers, forestry and small business

Models of work in the rural sector may include:

Options for development and decision support

Farm visits

Case management

Working with families

Early intervention/prevention

Community development and education

Risk identification

Facilitating adjustment and change

Stakeholders and representatives may include:

Banks/financial institutions

Local governments

Centrelink

Peers and target group

Families

Local community

Community organisations, including referral agencies

Government representatives and service providers

Peak industry bodies

Management, colleagues, supervisor, team members

Professional service providers (legal, accounting, agronomy, succession planning, financial advice, personal or emotional counselling)

Underpinning values and philosophies include:

Profitable, competitive and sustainable rural industries

Improving client self-reliance

Respecting privacy and confidentiality

Family sensitive approaches

Community education

Early intervention (before assets eroded)

Delivery of appropriate services

Facilitation of change and adjustment in the sector

A commitment to access and equity principles includes:

A non-discriminatory approach to all people using the service, their family and friends, the general public and co-workers

Ensuring the work undertaken takes account of and caters for differences including: cultural, physical, religious, economic, social

Ensuring a flexible and responsive approach to client service, including in remote areas

Social, cultural andlinguistic difference may relate to:

Different cultural and social contexts and backgrounds

Cultural practices and preferences of Indigenous Australians

The needs of people from non-English speaking backgrounds

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Work with a basic knowledge of the current framework and issues that apply in a rural context, including specific occupational health and safety (OHS) issues 
Identify different models of work that may be applied in the rural the sector 
Work in a manner that demonstrates consideration and understanding of underpinning values and philosophies in rural financial counselling 
Deliver financial counselling services with an understanding of the impact of current and historical social, economic and political factors on clients in the rural sector 
Undertake financial counselling work that reflects understanding of a farm as a business enterprise as well as in the context of a family enterprise 
Ensure financial counselling work reflects understanding of family enterprise and its links/relationship with rural and farming business 
Apply knowledge of financial aspects relating to planning and management of a rural enterprise 
Collect information, including views of key stakeholders and representatives from relevant target groups and use in the delivery of rural financial counselling services 
Make appropriate referrals as required, using knowledge of local support networks 
Advocate on behalf of clients in the rural sector where appropriate 
Support clients in mediation and negotiation with third parties 
Demonstrate a commitment to access and equity principles in all work undertaken 
Review personal values and attitudes regarding rural financial counselling and take into account when planning and implementing all work activities 
Demonstrate consideration and understanding of social, cultural and linguistic difference in all work undertaken 
Adapt own approach appropriately to meet individual social, cultural and linguistic needs of clients 
Respond with sensitivity to clients experiencing stress 

Forms

Assessment Cover Sheet

CHCFIN504A - Work effectively in rural financial counselling
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

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Assessment Record Sheet

CHCFIN504A - Work effectively in rural financial counselling

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: