Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners

FNSSAM601 Mapping and Delivery Guide
Monitor performance in sales of financial products or services

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSSAM601 - Monitor performance in sales of financial products or services
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to coordinate and monitor performance against organisational sales targets and quality client service standards.It applies to individuals who provide specialised knowledge, use systematic approaches and have responsibility for continuous improvement and quality standards.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.

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

financial services product information

relevant software system and data

organisational policy and procedures

common office equipment, technology, software and consumables.

Assessors must satisfy NVR/AQTF assessor requirements.
Prerequisites/co-requisites
Competency Field
Development and validation strategy and guide for assessors and learners Student Learning Resources Handouts
Activities 		Slides
PPT 		Assessment 1 Assessment 2 Assessment 3 Assessment 4
Elements of Competency Performance Criteria              
Element: Monitor implementation of sales policies and procedures
  • Monitor implementation of organisational policy and procedures in regard to selling financial products or services
  • Monitor implementation of organisational policy and procedures in regard to transactions, including non-cash transactions and variations to standard transactions
  • Accurately record information relating to sales of financial products and services and monitor products and services sold to ensure they are matched to client needs, with remedial action taken where deficiencies are identified
       
Element: Monitor implementation of client service standards
  • Measure client service standards according to organisational policy and procedures, and take remedial action where deficiencies are identified
  • Provide regular feedback to team members in relation to client service provision and quality, in accordance with organisational policy and procedures
       
Element: Monitor achievement of sales targets
  • Record sales results to assist with monitoring achievement of sales targets
  • Monitor individual and branch sales targets and record according to organisational policy and procedures
  • Provide feedback to management and staff on sales performance in relation to sales targets and planning
       


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. Monitor implementation of sales policies and procedures

1.1 Monitor implementation of organisational policy and procedures in regard to selling financial products or services

1.2 Monitor implementation of organisational policy and procedures in regard to transactions, including non-cash transactions and variations to standard transactions

1.3 Accurately record information relating to sales of financial products and services and monitor products and services sold to ensure they are matched to client needs, with remedial action taken where deficiencies are identified

2. Monitor implementation of client service standards

2.1 Measure client service standards according to organisational policy and procedures, and take remedial action where deficiencies are identified

2.2 Provide regular feedback to team members in relation to client service provision and quality, in accordance with organisational policy and procedures

3. Monitor achievement of sales targets

3.1 Record sales results to assist with monitoring achievement of sales targets

3.2 Monitor individual and branch sales targets and record according to organisational policy and procedures

3.3 Provide feedback to management and staff on sales performance in relation to sales targets and planning

Evidence of the ability to:

monitor and record sales targets and performance of an organisation, including the implementation of relevant policies and procedures

evaluate and document client service standards and the achievement of sales targets

provide clear feedback and advice on sales performance and quality client service to personnel and management.

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:

analyse client relations and service techniques

describe the key requirements of industry codes of practice, legislation and regulations relating to financial products and services

outline the key features of organisational policy and procedures in regard to selling products and services

describe the key features of:

product or account and service range

branch or department sales targets

explain the importance of sales to business performance and outline the factors that enhance sales performance

compare and contrast sales techniques.

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assignment, 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. Monitor implementation of sales policies and procedures

1.1 Monitor implementation of organisational policy and procedures in regard to selling financial products or services

1.2 Monitor implementation of organisational policy and procedures in regard to transactions, including non-cash transactions and variations to standard transactions

1.3 Accurately record information relating to sales of financial products and services and monitor products and services sold to ensure they are matched to client needs, with remedial action taken where deficiencies are identified

2. Monitor implementation of client service standards

2.1 Measure client service standards according to organisational policy and procedures, and take remedial action where deficiencies are identified

2.2 Provide regular feedback to team members in relation to client service provision and quality, in accordance with organisational policy and procedures

3. Monitor achievement of sales targets

3.1 Record sales results to assist with monitoring achievement of sales targets

3.2 Monitor individual and branch sales targets and record according to organisational policy and procedures

3.3 Provide feedback to management and staff on sales performance in relation to sales targets and planning

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
Monitor implementation of organisational policy and procedures in regard to selling financial products or services 
Monitor implementation of organisational policy and procedures in regard to transactions, including non-cash transactions and variations to standard transactions 
Accurately record information relating to sales of financial products and services and monitor products and services sold to ensure they are matched to client needs, with remedial action taken where deficiencies are identified 
Measure client service standards according to organisational policy and procedures, and take remedial action where deficiencies are identified 
Provide regular feedback to team members in relation to client service provision and quality, in accordance with organisational policy and procedures 
Record sales results to assist with monitoring achievement of sales targets 
Monitor individual and branch sales targets and record according to organisational policy and procedures 
Provide feedback to management and staff on sales performance in relation to sales targets and planning 

Forms

Assessment Cover Sheet

FNSSAM601 - Monitor performance in sales of financial products or services
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:

Date:

Assessment Record Sheet

FNSSAM601 - Monitor performance in sales of financial products or services

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: