Unit of competency Outline

Date retreived
22/07/2026 2:36 PM AWST

Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.

Process applications for credit

Process applications for credit

Unit of competency
National Code
FNSCRD301
State Code
AUQ78
TGA Status
Replaced
DTWD Status
Transition (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
081101 - Banking And Finance
Original Release Date
16/09/2015
Nominal Hours
15
Description
This unit describes the skills and knowledge required to apply product knowledge and advisory skills to identify, confirm and process applications for credit prior to assessment in accordance with organisational and legislative requirements.It applies to individuals who occupy entry level positions and work cooperatively in a team environment under the supervision of managers or team leaders.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. Check and verify application details
  • 1.1 Gather information required to support application in accordance with credit policy and record using correct organisational policy and procedures
  • 1.2 Verify information provided by applicant and obtain verification from other sources for accuracy and compliance with relevant legislative requirements, industry regulations and organisational guidelines
2. Submit assessment and decision
  • 2.1 Conduct a credit assessment and apply credit policy to inform applicant of the decision to reject or accept application
  • 2.2 Refer decisions to advance funds or extend credit that falls outside officer’s approval, or limits of authority, to relevant approving personnel
  • 2.3 Prepare recommendations to accept or reject applications to provide credit or advance funds and identify any required security
  • 2.4 Forward recommendations to relevant personnel promptly in accordance with organisational procedures
3. Maintain application records and complete necessary documentation
  • 3.1 Maintain an up-to-date records system according to legislative requirements and timeframes, and organisational policy and procedures
  • 3.2 Monitor and record file movements
  • 3.3 Produce accurate, clear and concise documentation in accordance with industry, organisational and legislative requirements and timeframes
No information
No information
Replaces
State Code National Code Title Type
D4081 FNSCRD301A Process applications for credit Unit of competency
Replaced By
State Code National Code Title Type
OBR90 FNSCRD311 Process applications for credit Unit of competency