This unit applies to mercantile agent job roles in debt management and collection.

ELEMENT

PERFORMANCE CRITERIA

1. Assemble information

1.1. Information is gathered and reviewed for relevance to the report and recommendations required by the client

1.2. Information is checked for accuracy, suitability, relevance and compliance with legal and privacy responsibilities and security and collated into a logical and coherent result of the job findings

2. Compile report and recommendations

2.1. Results of the review of the relevant information are used to determine a recommendation for action or for no further action that accounts for the requirements and expectations of the client and provide further avenues of inquiry when appropriate

2.2. Report with recommendations is produced and presented in accordance with client's instructions, and in an appropriate organisational format for the client

3. Verify recommendations with client

3.1. Contents of the report are openly and clearly discussed with the client as required with any queries and issues arising from the report clarified satisfactorily

3.2. Report is finalised and provided to the client when all outcomes of the work are agreed and recommendations meet the client's needs

Required skills

well-developed communication skills to:

determine and confirm client requirements, using questioning and active listening as required

negotiate and resolve disputes

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

literacy skills to:

read and interpret documentation from a variety of sources and recording, gathering and consolidating client information

draft reports and letters

interpret and comply with legal and ethical principles and obligations

well-developed observation and analysis skills to determine appropriate recommendations for clients that comply with legal obligations, industry and organisational codes of practice and ethical principles

IT skills for:

accessing and using appropriate software such as word processors, spreadsheets and databases

using internet search systems

using specialist computing systems for a collection agency

organisational skills, including the ability to plan and sequence work

Required knowledge

all relevant State and Commonwealth Acts

business principles and legal obligations underpinning credit management functions and their relationship to agents

costing of contracts, as well as potential factors and issues, in particular:

debt collection processes and underpinning legal obligations

business principles

financial arrangements

legal obligations of:

sole traders

partnerships

companies

role of the Australian Securities and Investments Commission (ASIC) in relation to:

businesses

principles of limited liability

subpoenas

insolvency and bankruptcy

principles of association under the Associations Incorporation Act

types and principles and obligations of trusts

role, procedures and relevant documentation of the various relevant court jurisdictions and appeals procedures

securities principles:

factoring

guarantees

indemnity

securities over property

retention

liens

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:

compile written reports that effectively communicate recommendations and actions

interpret and comply with current legislative requirements and general development in the mercantile agents field

liaise and cooperate with a variety of people and build and maintain rapport and trust with clients

take personal responsibility for fully complying with legal obligations

apply prior experience in problem solving and develop constructive responses when confronted with problems and difficulties.

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 collection agency systems and documentation.

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

setting and reviewing simulations or scenarios

evaluating samples of work

accessing and validating third party reports.

Guidance information for assessment

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.

Appropriate report formats may include:

broad

dot point

photographic

short form.

Clients may include:

banks

building societies

credit unions

employer

finance companies

financiers

government agencies

other mercantile agents

private companies.

Recommendations may be for:

further action

further investigation before final decision on case is made

no further action.

Unit sector

Mercantile agents

This unit contains employability skills.