Unit of competency Outline
Date retreived
22/07/2026 7:44 PM AWST
22/07/2026 7:44 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.
Facilitate the financial counselling process
Facilitate the financial counselling process
Unit of competency
National Code
CHCFIN502A
CHCFIN502A
State Code
D2530
D2530
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
21/07/2014
Field of Education
081199 - Banking, Finance And Related Fields, N.e.c.
Original Release Date
21/07/2014
Nominal Hours
40
Description
DescriptorThis unit describes the knowledge and skills required to identify and respond to the immediate and ongoing needs of clients, including provision of referral services as required
Notes
Elements and Performance Criteria
1. Respond to initial client contact
- 1.1 Obtain informed consent from client to enter into a financial counselling process
- 1.2 Identify and address any conflicts of interest and/or other ethical considerations
- 1.2 Identify appropriateness of financial counselling on the basis of routine client information collected
- 1.3 Clarify with client the role of financial counsellor and expectations of the representative agency
- 1.4 Explain rights and responsibilities of client and counsellor in the financial counselling process
- 1.5 Clarify client expectations and needs to ensure their issues and motivations are suited to financial counselling
- 1.6 Make an appropriate referral if client need is identified as outside scope of own work role
- 1.7 Explain confidentiality policy of the representative agency
2. Assess client's financial situation
- 2.1 Collect information on client's financial situation including relevant personal issues
- 2.2 Examine and analyse the material with client to identify areas for further investigation
- 2.3 Seek additional information as required, including the status and validity of contracts
- 2.4 Highlight important features of the client's financial position
- 2.5 Assist client to identify areas where they want to take action
- 2.6 Identify and discuss client's legal rights and responsibilities
3. Discuss options with the client
- 3.1 Work with the client to establish a list of concerns
- 3.2 Identify areas for possible action and prioritise to reflect client's concerns
- 3.3 Provide information regarding client responsibilities and rights in relation to individual debts and overall financial situation
- 3.4 Discuss with client potential consequences of various options
4. Develop action plan in partnership with client
- 4.1 Work with the client to prioritise areas for action immediately and in the longer term
- 4.2 Assist client to identify workable strategies to address their financial concerns
- 4.3 Assist client to develop their own action plans to address their circumstances
- 4.4 Discuss need for advocacy or negotiation by client and/or financial counsellor
5. Provide and evaluate ongoing support
- 5.1 Ask client about their interest in ongoing support
- 5.2 Identify areas where clients may require referral to specialists agencies or professionals
- 5.3 Identify range of support services able to be provided by the organisation and others
- 5.4 Develop and implement with the client an ongoing plan defining any support to be provided
- 5.5 With the client, work through roles and responsibilities of client and counsellor in the support framework
- 5.6 Implement processes to evaluate effectiveness of support provided to the client by the financial counsellor
- 5.7 Revise support services in the light of evaluation feedback
- 5.8 Terminate the financial counselling process in line with organisation procedures and professional role requirements and provide referrals as agreed with client
6. Maintain client records as required in a financial counselling agency
- 6.1 Implement processes to keep accurate records of financial counselling sessions in accordance with organisation and privacy requirements
- 6.2 Record appropriate file notes and retain relevant documentation taking into account professional and legal requirements
- 6.3 Maintain confidentiality of records in accordance with professional and legal requirements
- 6.4 Secure client records for storage, archiving and destruction as per organisation and privacy requirements
- 6.5 Prepare and maintain statistical records in line with organisation requirements
7. Participate in reflective practice processes
- 7.1 Implement professional supervision in accordance with organisation policy and procedures
- 7.2 Maintain knowledge of current industry information and best practice in financial counselling and utilise in professional practice
- 7.3 Undertake professional development activities to meet organisation and industry requirements
- 7.4 Ensure reflective practice is consistent with relevant codes of practice and ethical guidelines
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. Add any 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.
Client information relating to their financial situation and relevant personal details will include:
Income and entitlements
Credit and debt commitments
Assets
Household expenditure
Possible sources of financial assistance
Employment status
Constituents of Household
Any personal issues with direct impact on the financial situation
Status and validity of contracts may include:
Original documents
Signatories
Guarantors
Co-borrowers
Timeframe
Contract calculations
Security
Payment history
Action plan may be:
Short term or long term
Strategies to address their financial concerns may include:
Assessment of the legality of debts
Assessment of possible legal remedies
Development of a money plan
Strategies for increasing income
Strategies for decreasing expenditure
Strategies for reducing credit and debt problems
Referral to other appropriate professionals
Referral to range of support services that may address client issues may include:
Government income support agencies
Support agencies for mental health, domestic violence, alcohol and other drugs (AOD) issues, gambling counselling etc.
Accommodation agencies including emergency housing agencies
Community health centres
Family support agencies
Local community support networks
Financial assistance agencies
Emergency relief agencies
Dispute Resolution Services
Free legal services
Other Counselling services
Professional supervision may include:
Supervision by a senior financial counsellor
Debriefing
Mentor group meetings
Review with peers
Interagency meetings to discuss cases
Professional development activities may include:
In-house training
External training
Attendance at conferences, seminars
Clinical supervision
Attendance at industry association activities
Case presentations/discussions
Client need is identified as outside scope of own work role may include, for example:
Specific financial situations requiring specialist counselling
Indicators of related on non-related behavioural, emotional, psychological and/or mental health issues
Indicators of addictive behaviour
The Range Statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Add any 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.
Client information relating to their financial situation and relevant personal details will include:
Income and entitlements
Credit and debt commitments
Assets
Household expenditure
Possible sources of financial assistance
Employment status
Constituents of Household
Any personal issues with direct impact on the financial situation
Status and validity of contracts may include:
Original documents
Signatories
Guarantors
Co-borrowers
Timeframe
Contract calculations
Security
Payment history
Action plan may be:
Short term or long term
Strategies to address their financial concerns may include:
Assessment of the legality of debts
Assessment of possible legal remedies
Development of a money plan
Strategies for increasing income
Strategies for decreasing expenditure
Strategies for reducing credit and debt problems
Referral to other appropriate professionals
Referral to range of support services that may address client issues may include:
Government income support agencies
Support agencies for mental health, domestic violence, alcohol and other drugs (AOD) issues, gambling counselling etc.
Accommodation agencies including emergency housing agencies
Community health centres
Family support agencies
Local community support networks
Financial assistance agencies
Emergency relief agencies
Dispute Resolution Services
Free legal services
Other Counselling services
Professional supervision may include:
Supervision by a senior financial counsellor
Debriefing
Mentor group meetings
Review with peers
Interagency meetings to discuss cases
Professional development activities may include:
In-house training
External training
Attendance at conferences, seminars
Clinical supervision
Attendance at industry association activities
Case presentations/discussions
Client need is identified as outside scope of own work role may include, for example:
Specific financial situations requiring specialist counselling
Indicators of related on non-related behavioural, emotional, psychological and/or mental health issues
Indicators of addictive behaviour
EVIDENCE GUIDE
The evidence guide provides advice on assessment and must be read in conjunction with the Performance Criteria, Required Skills and Knowledge, the Range Statement and the Assessment Guidelines for this Training Package.
Critical aspects for assessment and evidence required to demonstrate this unit of competency:
The individual being assessed must provide evidence of specified essential knowledge as well as skills
This unit is best assessed in the workplace or in a simulated workplace under the normal of range conditions
Assessment should be gathered on one or more occasions but must reflect the normal range of client situations encountered in the workplace
Access and equity considerations:
All workers in community services should be aware of access, equity and human rights issues in relation to their own area of work
All workers should develop their ability to work in a culturally diverse environment
In recognition of particular issues facing Aboriginal and Torres Strait Islander communities, workers should be aware of cultural, historical and current issues impacting on Aboriginal and Torres Strait Islander people
Assessors and trainers must take into account relevant access and equity issues, in particular relating to factors impacting on Aboriginal and/or Torres Strait Islander clients and communities
Context of and specific resources for assessment:
This unit can be assessed independently, however holistic assessment practice with other community services units of competency is encouraged
Resources required for assessment of this unit include access to:
an appropriate workplace where assessment can take place or simulation of realistic workplace setting for assessment
Method of assessment:
In cases where the learner does not have the opportunity to cover all relevant aspects in the work environment, the remainder should be assessed through realistic simulations, projects, previous relevant experience or oral questioning on 'What if?' scenarios
Assessment of this unit of competence will usually include observation of processes and procedures, oral and/or written questioning on Essential knowledge and skills and consideration of required attitudes
Where performance is not directly observed and/or is required to be demonstrated over a 'period of time' and/or in a 'number of locations', any evidence should be authenticated by colleagues, supervisors, clients or other appropriate persons
Related units:
This unit is part of a suite of units that describe the financial counselling process and are to be assessed concurrently or sequentially:
CHCFIN501A Identify and apply technical information to assist clients with financial issues
CHCFIN502A Facilitate the financial counselling process
CHCFIN503A Develop and use financial counselling tools and techniques
The evidence guide provides advice on assessment and must be read in conjunction with the Performance Criteria, Required Skills and Knowledge, the Range Statement and the Assessment Guidelines for this Training Package.
Critical aspects for assessment and evidence required to demonstrate this unit of competency:
The individual being assessed must provide evidence of specified essential knowledge as well as skills
This unit is best assessed in the workplace or in a simulated workplace under the normal of range conditions
Assessment should be gathered on one or more occasions but must reflect the normal range of client situations encountered in the workplace
Access and equity considerations:
All workers in community services should be aware of access, equity and human rights issues in relation to their own area of work
All workers should develop their ability to work in a culturally diverse environment
In recognition of particular issues facing Aboriginal and Torres Strait Islander communities, workers should be aware of cultural, historical and current issues impacting on Aboriginal and Torres Strait Islander people
Assessors and trainers must take into account relevant access and equity issues, in particular relating to factors impacting on Aboriginal and/or Torres Strait Islander clients and communities
Context of and specific resources for assessment:
This unit can be assessed independently, however holistic assessment practice with other community services units of competency is encouraged
Resources required for assessment of this unit include access to:
an appropriate workplace where assessment can take place or simulation of realistic workplace setting for assessment
Method of assessment:
In cases where the learner does not have the opportunity to cover all relevant aspects in the work environment, the remainder should be assessed through realistic simulations, projects, previous relevant experience or oral questioning on 'What if?' scenarios
Assessment of this unit of competence will usually include observation of processes and procedures, oral and/or written questioning on Essential knowledge and skills and consideration of required attitudes
Where performance is not directly observed and/or is required to be demonstrated over a 'period of time' and/or in a 'number of locations', any evidence should be authenticated by colleagues, supervisors, clients or other appropriate persons
Related units:
This unit is part of a suite of units that describe the financial counselling process and are to be assessed concurrently or sequentially:
CHCFIN501A Identify and apply technical information to assist clients with financial issues
CHCFIN502A Facilitate the financial counselling process
CHCFIN503A Develop and use financial counselling tools and techniques
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AWA87 | CHCFIN001 | Facilitate the financial counselling process | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| D325 | CHC52108 | Diploma of Community Services (Financial counselling) | Qualification |
| D335 | CHC80308 | Graduate Diploma of Family Dispute Resolution | Qualification |