Unit of competency Outline
Date retreived
23/07/2026 12:01 AM AWST
23/07/2026 12:01 AM 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.
Provide business advisory services within a financial services context
Provide business advisory services within a financial services context
Unit of competency
National Code
FNSBNK503A
FNSBNK503A
State Code
D4068
D4068
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
30/05/2011
Field of Education
081101 - Banking And Finance
Original Release Date
30/05/2011
Nominal Hours
60
Description
This unit describes the performance outcomes, skills and knowledge required to provide advisory services to small businesses with the intent of stimulating community and business development and includes provision of business advice includes the business planning, marketing and opportunity seeking processes required to identify and capitalise on business opportunities and develop financing proposals.This unit has application to a variety of financial services sectors and is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements so the varying Commonwealth, State or Territory requirements should be confirmed with the relevant body.
Notes
Elements and Performance Criteria
1. Contribute to the identification of business opportunities
- 1.1. Business relationships with community members and business developers are fostered over time
- 1.2. The attributes, service needs and wants of business customers are identified as a basis for tailoring communications and services
- 1.3. Support and advice is provided to the potential business operator or customer in evaluating potential business opportunities and support and advice is provided in identifying the market potential of the business opportunity
- 1.4. Support and advice is provided to the potential business operator or customer in identifying the financial, infrastructure and human resources required to realise the business opportunity
2. Provide advice about the development of business plans and financing proposals
- 2.1. The requirements and structure of a business plan are communicated to the customer
- 2.2. Advice is provided regarding the development of a comprehensive business plan and its implementation
- 2.3. Advice is provided regarding the development of a proposal for financing of the business initiative which meets the guidelines and requirements of the organisation
- 2.4. Advice is provided about the benefits of accessing other relevant business professionals to ensure the business venture has the appropriate structure and is compliant with relevant legislation
3. Provide high level and tailored business banking solutions and service
- 3.1. Potential or current usage patterns of the business are analysed and effective service and product options are identified
- 3.2. The business banking needs are ascertained and evaluated and products to manage the business cash flow identified, rates negotiated, modelled and sold
- 3.3. Products to support the financial transactions of the business are identified, modelled and sold
- 3.4. Products to support the borrowing needs of the business are identified, modelled and sold
- 3.5. Products to support the leasing needs of the business are identified, modelled and sold
- 3.6. Banking services that assist with the efficient management and statutory reporting of the business are identified and implemented
- 3.7. Service delivery to the business customer by other departments or units across the organisation are coordinated
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.
Community members and business developers may be:
developing commercial and for-profit business opportunities as individuals
or
may be seeking development of a business opportunity on behalf of the community to, for example, generate employment and develop skills in addition to provide a net financial return.
Market potential is determined by:
the capacity of the business to reach and service the target market in a cost-effective manner
the number of competitors in the market place
the potential size of the target market
the quality and value of the business initiative.
A business plan can be developed using hardcopy or software templates and may include:
a description of the product, service or venture
an analysis of the business environment including competitors and the sizing of potential markets
an analysis of the fixed and variable costs associated with the initiative
an analysis of the strengths, weaknesses, opportunities and threats (SWOT) to the business operator and business initiative
funding needs
initial set-up costs
projected sales volumes, cash flow and costs over time.
Related business professionals include:
accountants
lawyers
venture capital providers
business information and support services such as business incubators
business consultants
marketing consultants.
Products to assist with business cash flow management include:
overdrafts
commercial bills
other credit facilities.
Products to assist with efficient management of financial transactions include:
interest bearing accounts
off-set business mortgages
statutory trust accounts
access to night safes.
Products to assist with borrowing needs include:
business credit cards
business loans
commercial bills
hire purchase.
Products to assist with leasing include:
business leases
novated leases.
Services to support the efficient management and statutory reporting of businesses include:
credit card services to manage business and travel expenses
information to support Fringe Benefit Tax (FBT) payment and reporting
information to support Goods and Services Tax (GST) payment and reporting.
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.
Community members and business developers may be:
developing commercial and for-profit business opportunities as individuals
or
may be seeking development of a business opportunity on behalf of the community to, for example, generate employment and develop skills in addition to provide a net financial return.
Market potential is determined by:
the capacity of the business to reach and service the target market in a cost-effective manner
the number of competitors in the market place
the potential size of the target market
the quality and value of the business initiative.
A business plan can be developed using hardcopy or software templates and may include:
a description of the product, service or venture
an analysis of the business environment including competitors and the sizing of potential markets
an analysis of the fixed and variable costs associated with the initiative
an analysis of the strengths, weaknesses, opportunities and threats (SWOT) to the business operator and business initiative
funding needs
initial set-up costs
projected sales volumes, cash flow and costs over time.
Related business professionals include:
accountants
lawyers
venture capital providers
business information and support services such as business incubators
business consultants
marketing consultants.
Products to assist with business cash flow management include:
overdrafts
commercial bills
other credit facilities.
Products to assist with efficient management of financial transactions include:
interest bearing accounts
off-set business mortgages
statutory trust accounts
access to night safes.
Products to assist with borrowing needs include:
business credit cards
business loans
commercial bills
hire purchase.
Products to assist with leasing include:
business leases
novated leases.
Services to support the efficient management and statutory reporting of businesses include:
credit card services to manage business and travel expenses
information to support Fringe Benefit Tax (FBT) payment and reporting
information to support Goods and Services Tax (GST) payment and reporting.
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:
form strong business relationships with individuals and communities
effectively develop business opportunities
match financial products, solutions and services to meet the specific needs of business customers
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 an integrated financial software system and data
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
evaluating samples of work
accessing and validating third party reports.
Guidance information for assessment
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:
form strong business relationships with individuals and communities
effectively develop business opportunities
match financial products, solutions and services to meet the specific needs of business customers
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 an integrated financial software system and data
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
evaluating samples of work
accessing and validating third party reports.
Guidance information for assessment
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| C9637 | FNSBANK503B | Provide business advisory services within a financial services context | Unit of competency |
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUQ70 | FNSBNK503 | Provide business advisory services within a financial services context | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| S725 | FNS50910 | Diploma of Banking Services Management | Qualification |
| D725 | FNS51811 | Diploma of Financial Services | Qualification |