FNSCUS502 - Monitor client requirements assessment tool

Assessor Resource

FNSCUS502
Monitor client requirements

Assessment tool

Version 1.0
Issue Date: June 2024

This unit describes the skills and knowledge required to collect and analyse client information, use it as the basis for determining the level of contact required and monitor and maintain the quality of the service provided.

It applies to individuals who may use a range of specialised and managerial techniques to plan, monitor and review their work in any sector of the financial services industry.

No licensing, legislative or certification requirements apply to this unit at the time of publication.

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

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.

ELEMENT	PERFORMANCE CRITERIA
Elements describe the essential outcomes.	Performance criteria describe the performance needed to demonstrate achievement of the element.
1. Determine client needs	1.1 Collect comprehensive information on clients using appropriate means and in compliance with guidelines 1.2 Review records regularly to ensure information is current and maintain complete records of risks assessed and action taken 1.3 Monitor effectiveness of guidelines and adjust as required
2. Establish communication with clients	2.1 Apply service guidelines to determine level of client contact required 2.2 Formalise communication where interests of organisation and client need to be protected 2.3 Establish regular communication within guidelines and based on client needs
3. Identify and review information	3.1 Identify and gather categories of information relevant to service provided 3.2 Monitor business environment to identify need to amend information services, and establish mechanisms to select and filter information efficiently 3.3 Determine and maintain information relevant to client requirements on an ongoing basis

Evidence of the ability to:

apply a systematic approach to collecting and analysing client information and data

review and monitor client records and data to determine client contact required and monitor risk

contact clients regularly using effective communication skills and channels, considering any special requirements and/or business needs

monitor effectiveness of organisational guidelines.

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 financial services industry developments and trends relevant to client needs and the business

describe key features of industry compliance requirements for client services

describe the industry market position relative to the product and line of business

explain key requirements of organisational or industry policy regarding client information management and communication

explain organisational policy and procedures regarding client information management and communication.

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the customer service field of work and include access to:

common office equipment and consumables

an integrated financial software system and data.

Assessors must satisfy NVR/AQTF assessor requirements.

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.

ELEMENT	PERFORMANCE CRITERIA
Elements describe the essential outcomes.	Performance criteria describe the performance needed to demonstrate achievement of the element.
1. Determine client needs	1.1 Collect comprehensive information on clients using appropriate means and in compliance with guidelines 1.2 Review records regularly to ensure information is current and maintain complete records of risks assessed and action taken 1.3 Monitor effectiveness of guidelines and adjust as required
2. Establish communication with clients	2.1 Apply service guidelines to determine level of client contact required 2.2 Formalise communication where interests of organisation and client need to be protected 2.3 Establish regular communication within guidelines and based on client needs
3. Identify and review information	3.1 Identify and gather categories of information relevant to service provided 3.2 Monitor business environment to identify need to amend information services, and establish mechanisms to select and filter information efficiently 3.3 Determine and maintain information relevant to client requirements on an ongoing basis