Application
This unit may apply to job roles in any sector of the financial services industry. |
Elements and Performance Criteria
ELEMENT | PERFORMANCE CRITERIA |
1. Develop professional business relationships | 1.1. All dealings with the client, professionals, and other third parties are conducted professionally in accordance with the organisation's policies and procedures and legislative, regulatory and professional codes of practice 1.2. The organisation's social, business and ethical standards are used to develop and maintain positive relationships 1.3. Dealings with colleagues, clients and other parties is carried out through competent performance and with respect to confidentiality 1.4. Interpersonal styles and methods are adjusted to the needs and situation of other parties |
2. Build and maintain business networks and relationships | 2.1. Business and professional networks and other relationships are developed and maintained to benefit the organisation 2.2. Business and professional networks are used to identify and cultivate relationships in order to promote and market the organisation 2.3. Other professionals and third parties are cooperated with to expand and enhance the reputation of the organisation and to identify new and improved business practises |
3. Nurture relationships and build on referral business for the long term | 3.1. Referral business is followed up through appropriate communication channels to find and secure new business relationships 3.2. Referral needs are identified quickly and information provided about the organisation's relevant products and services 3.3. An interview with referral business is secured where needs can be met, or other sources of information are identified that may assist the client. |
Required Skills
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Required skills |
highly developed communication skills to: deal effectively with a range of clients and other professionals establish their relationship needs using questioning and active listening as required network and build strong personal relationships liaise with others, share information, listen and understand use language and concepts appropriate to cultural differences research and analysis to access, interpret and manage complex information well-developed marketing skills to promote products and services problem solving skills to address client and peer issues judgement skills for forming recommendations in operational situations IT skills for accessing and using specialised contact databases and using internet information well-developed literacy skills for: reading and interpreting documentation from a variety of sources and recording, gathering and consolidating information drafting comprehensive reports and letters for clients and other professionals learning skills to maintain knowledge of industry products and operating environment organisational skills, including the ability to plan and sequence work and set achievable goals |
Required knowledge |
local and international economic environment and trends marketing and public relations tools and media negotiation and communication principles relevant associations, conferences, and other relationship building opportunities relevant business contexts relevant legislation and regulations and industry codes of practice |
Evidence Required
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: liaise, develop and secure longstanding and effective relationships apply high level communication, negotiation, interpersonal and relationship management skills interpret and apply the goals, policies and procedures of the organisation monitor and introduce new ways to improve work relationships adapt to any special needs of clients, including cultural, language, race, religion, ethnic origin, socioeconomic status and demographic needs. |
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 financial services product information access to contact software system and data. |
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 observing processes and procedures in workplaces or role plays verbal or written questioning on underpinning knowledge and skills accessing and validating third party reports. |
Guidance information for assessment |
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. | |
The organisation's policies and procedures may include: | clerical and administrative procedures disputes and complaints resolution procedures financial and IT systems management and supervisory practises professional development requirements. |
Legislative, regulatory and professional codes of practice may include: | Commonwealth local government State or Territory. |
Organisation's social, business and ethical standards may include: | client management practises and principles client charter organisational guidelines professional codes of practice. |
Confidentiality may include: | any requirements under legislation such as: Consumer Credit Code Privacy Act standards described by the organisation's policies and procedures. |
Interpersonal styles and methods may include: | educating and informing hard and soft sell techniques methods appropriate to the audience to communicate ideas and information which account for social and cultural diversity negotiation and persuasion seeking input from internal and external sources and use this input to develop and refine ideas and approaches treating people with integrity, respect and empathy. |
Business and professional networks may include: | award ceremonies networking events professional associations seminars and conferences sports outings and special events. |
Other relationships may include: | accounting and taxation professionals banks building and construction professionals company directors and managers consumer protection authorities finance brokers financial advisers and consultants financial institutions government departments and agencies insurance brokers and providers land titles offices legal professionals licensing authorities loss adjusters and assessors mortgage brokers municipal offices professional associations real estate professionals surveyors, quantity surveyors and planning consultants. |
Referral business may include: | developed networks franchise recommendations and referrals friends and relatives organisation's: internal call-in referral method past clients recommendations from clients. |
Appropriate communication channels may include: | advertisements cold calls community events face to face mail drops office events phone, email and other electronic technology seminars. |
Sectors
Unit sector | Customer service |
Employability Skills
This unit contains employability skills. |
Licensing Information
Not applicable.