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Evidence Guide: FNSBNK402A - Align banking products with the needs of small business customers

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

FNSBNK402A - Align banking products with the needs of small business customers

What evidence can you provide to prove your understanding of each of the following citeria?

Identify and forecast small business customer needs and wants

  1. A segmentation analysisof the small business market is conducted and the operating environments of the small business segments identified and analysed
  2. The impact of the small business segment environment on their current and future banking needs is identified and analysed
  3. Needs and wants of small business customer are tracked and monitored
  4. The results of marketing and communications campaigns targeted to small businesses are analysed to identify successful strategies
A segmentation analysisof the small business market is conducted and the operating environments of the small business segments identified and analysed

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

The impact of the small business segment environment on their current and future banking needs is identified and analysed

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Needs and wants of small business customer are tracked and monitored

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

The results of marketing and communications campaigns targeted to small businesses are analysed to identify successful strategies

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify product and service options for small business customers

  1. Current customer usage patterns of the institution's small business customer categories are analysed
  2. Product and services used by segments of small business customers are identified and their benefits analysed
  3. New products and services, tailored to small business customer segments, are designed and their implementation negotiated in accordance with the institution's business rules and processes
Current customer usage patterns of the institution's small business customer categories are analysed

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Product and services used by segments of small business customers are identified and their benefits analysed

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

New products and services, tailored to small business customer segments, are designed and their implementation negotiated in accordance with the institution's business rules and processes

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Communicate service benefits to small business customers

  1. Preferred and optimum communication strategies and vehicles to influence small business segments are identified and analysed
  2. Communications campaigns to match products and services to identified small business segments are planned and implemented
  3. Strategies to support routine and ongoing communications with small business segments are planned and monitored
  4. Customer service staff are briefed and coached in a timely and effective manner on the purpose of communication campaigns
Preferred and optimum communication strategies and vehicles to influence small business segments are identified and analysed

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Communications campaigns to match products and services to identified small business segments are planned and implemented

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Strategies to support routine and ongoing communications with small business segments are planned and monitored

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Customer service staff are briefed and coached in a timely and effective manner on the purpose of communication campaigns

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Manage the performance of products, services and communications for small business customers

  1. Performance indicators are identified, communicated and monitored with reports against targets using standard protocols and procedures analysed
  2. Exception or feedback reports are analysed and processes put in place to rectify faults or capitalise on opportunities
  3. Strategies to support the continuous improvement of small business products and services and communications are developed, implemented and monitored
Performance indicators are identified, communicated and monitored with reports against targets using standard protocols and procedures analysed

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Exception or feedback reports are analysed and processes put in place to rectify faults or capitalise on opportunities

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Strategies to support the continuous improvement of small business products and services and communications are developed, implemented and monitored

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

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:

analyse and segment the small business market and identify effective and commercially successful products to meet the varying needs of the market segments

construct effective communications campaigns and monitor their success

meet key performance indicators for small business engagement and business growth.

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 organisational policies and practices for providing services to small business customers.

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 workplace projects and business simulations or scenarios

accessing and validating third party reports.

Guidance information for assessment

Required Skills and Knowledge

Required skills

well-developed communication skills to:

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

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

well-developed interpersonal skills to establish rapport with customers

research and analysis for:

accessing, interpreting and managing product information

conducting a market analysis

problem solving skills to identify any product or service issues that have the potential to impact on the small business customerservices and develop options to resolve these issues when they arise

literacy skills for analysing information and products to ensure appropriateness to customer needs, currency and accuracy

IT skills for accessing and using appropriate software such as databases and using internet information

organisational and time management skills to sequence tasks, meet timelines and arrange meetings

Required knowledge

customer motivations, needs and wants

financial products and services and their benefits and applications

legislation and regulation relevant to the area including:

Financial Services Reform Act (FSRA)

Privacy Act

company law

Trade Practices Act

market research techniques

organisational systems, policies, procedures and protocols

principles of small business engagement and portfolio management

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.

A segmentation analysis of the small business market may be based on:

geographic location

growth of business

industry or sector

size of business.

Small business segment environment may reflect:

availability and cost of inputs

depth and strength of competition in the market place

environmental conditions and changes

exchange rate changes

purchasing power and control of customers

regulatory changes

strength and influence of suppliers

technology changes

the lifecycle of the industry.

Processes to track customer segment needs and wants include:

customer satisfaction surveys

feedback from frontline customer service staff

long term tracking studies

qualitative market research such as focus groups

quantitative market research.

Customer usage patterns may be defined by:

number of services used per customer such as:

loans

online banking

night safe

merchant EFTPOS

number of transactions per month per customer

shift in type of services such as:

to online banking

electronic payments versus cheques.

Product and services for small businesses may include:

access to night-safes

business credit cards

business leases

business loans

commercial bills

hire purchase

interest bearing accounts

novated leases

off-set business mortgages

overdrafts

savings and cash management accounts

statutory trust accounts

superannuation.

Communication strategies and vehicles used with small business customers may include:

branch or regionally based initiatives

mail-outs

media offers

outbound telemarketing

response to inbound calls resulting from a marketing offer.

Performance indicators may include:

growth of new small business customers

increase in number of products and services used per small business customer

level of recall of products or services by customers

level of up-selling or cross-selling

retention of small business customers

sales of products achieved.