Unit of competency Outline

Date retreived
23/07/2026 2:09 AM AWST

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Process applications for credit

Process applications for credit

Unit of competency
National Code
FNSCRD311
State Code
OBR90
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
01/07/2020
View on TGA
State Implementation and Classification
Approved Date
02/10/2020
Field of Education
081101 - Banking And Finance
Original Release Date
02/10/2020
Nominal Hours
15
Description
This unit describes the skills and knowledge required to gather and submit customer information to determine the outcome of their credit applications. This includes providing recommendations on the outcome of a credit application to senior persons when the decision making is outside of individuals’ authority.It applies to those who occupy entry level positions and work cooperatively in a team environment, under the supervision of managers or team leaders.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Verify application details
  • 1.1 Gather and record information required to support application according to organisational and industry credit policy and processes
  • 1.2 Obtain information provided by applicant and verify information against other sources for accuracy and compliance with legislative requirements, industry regulations and organisational guidelines
2. Determine application outcome and communicate to customer
  • 2.1 Conduct a credit assessment using established credit policy and request additional information from the customer if necessary
  • 2.2 Prepare recommendations to accept or decline applications to provide credit or advance funds and identify any required security
  • 2.3 Check that all information required to approve or decline application is provided and if decisions are beyond the limit of own authority, escalate to approving persons
  • 2.4 Implement recommendation if required, and present outcome to approving persons
  • 2.5 Inform applicant of the decision to decline or accept application
3. Maintain application records and monitor system
  • 3.1 Produce documentation according to organisational and legislative requirements and required timeframes
  • 3.2 Monitor and record file movements according to industry and organisational data security and safety standards
No information
No information
Replaces
State Code National Code Title Type
AUQ78 FNSCRD301 Process applications for credit Unit of competency