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.
ELEMENT | PERFORMANCE CRITERIA |
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Monitor status of corporate insolvency and analyse potential risk | 1.1 Identify factors in corporate client accounts that may contribute to possible corporate insolvency situations and risk factors to creditor organisation 1.2 Analyse impact of insolvency options that may be taken by liquidator, administrator, receiver or other third party 1.3 Discuss possible effects of actions with line manager if required to determine correct action |
2. Determine appropriate action | 2.1 Evaluate corporate insolvency actions in accordance with legislative rights and obligations of both debtor and creditor 2.2 Complete appropriate documentation in accordance with legislative requirements and organisational policy to implement appropriate action and commence legal proceedings |
3. Review circumstances which led to corporate insolvency situation | 3.1 Evaluate causes for corporate insolvency and review organisational procedures to determine mechanisms to identify contributing factors and prevent recurrence of loss and exposure to insolvency risk 3.2 Implement outcome of review as required |
Evidence of the ability to:
follow organisational policy and procedures and legislative requirements to determine required action related to corporate insolvency
complete relevant documentation to ensure legal proceedings are undertaken correctly
evaluate circumstances of corporate insolvency and determine changes to organisational procedures as required.
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:
describe factors that lead to corporate insolvency
outline potential insolvency actions
describe a range of insolvency situations and risk factors for the creditor organisation
explain key features of current legislative requirements relating to corporate insolvency
explain the application of organisational policy to corporate insolvency management
identify and describe the full range of credit options within legal requirements
define relevant industry indicators of insolvency.
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the credit management field of work and include access to:
common office equipment, technology and consumables
credit product information
relevant software systems and data
organisational policy and procedures related to managing insolvency.
Assessors must satisfy NVR/AQTF assessor requirements.