Unit of competency Outline

Date retreived
23/07/2026 4:46 AM AWST

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Establish and maintain appropriate security

Establish and maintain appropriate security

Unit of competency
National Code
FNSCRD402
State Code
AUQ63
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
16/09/2015
Field of Education
081105 - Investment And Securities
Original Release Date
16/09/2015
Nominal Hours
20
Description
This unit describes the skills and knowledge required to determine and implement appropriate security options in relation to individual customers to protect the organisation against loss and exposure.It applies to individuals who may use a range of specialised techniques and strategies to manage their work outcomes. Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Notes
Elements and Performance Criteria
1. Assess requirement for security
  • 1.1 Undertake risk analysis of credit applications in accordance with organisational credit policy and guidelines to determine requirements for security
  • 1.2 Determine customers’ level of risk and identify security requirements
2. Identify available security options and suitability of available securities
  • 2.1 Explain requirements for security to customers, considering any special needs of customers
  • 2.2 Identify range of securities available and determine which are appropriate to type of credit facility
  • 2.3 Negotiate with customers to determine security arrangements as required within organisational guidelines
3. Apply appropriate security
  • 3.1 Analyse assets and conduct valuations to confirm value of security
  • 3.2 Register security interest in accordance with legislative requirements
4. Monitor and review effectiveness of security arrangement
  • 4.1 Maintain knowledge of current conditions in market and keep updated on any changes in organisation's credit policy and guidelines
  • 4.2 Monitor customer accounts to confirm appropriateness of security arrangements
  • 4.3 Amend security arrangement documentation to reflect changes in customers’ relationships or circumstances where necessary
No information
No information
Replaces
State Code National Code Title Type
D4084 FNSCRD402A Establish and maintain appropriate securitisation Unit of competency
Replaced By
State Code National Code Title Type
OEC03 FNSCRD412 Establish and maintain appropriate security options for credit facilities Unit of competency