Unit of competency Outline
Date retreived
23/07/2026 12:03 AM AWST
23/07/2026 12:03 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.
Establish, manage and monitor key relationships
Establish, manage and monitor key relationships
Unit of competency
National Code
FNSCUS601A
FNSCUS601A
State Code
D4101
D4101
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
31/07/2014
Field of Education
080501 - Sales
Original Release Date
31/07/2014
Nominal Hours
50
Description
This unit describes the performance outcomes, skills and knowledge required to define, identify, and provide a quality service, and manage the relationship with key clients of the organisation.No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.
Notes
Elements and Performance Criteria
1. Establish criteria for identifying key relationships
- 1.1. A definition for identifying a client as a key relationship to the organisation is established
- 1.2. The definition for key relationships is communicated to staff and, if relevant, to agents for the organisation
- 1.3. Arrangements are made to regularly review the organisation definition of key relationships to take into account changing market conditions and client profiles
2. Identify key relationships
- 2.1. Existing clients are reviewed by representatives and management, using the definition for key relationships, to form a database of key relationship clients
- 2.2. Senior representatives are identified and/or allocated to each key relationship
- 2.3. All staff are informed of key relationships and the responsible representative for each key relationship
3. Establish service structures for key relationships
- 3.1. Appropriate training is given to representatives who deal with key relationships
- 3.2. Administrative and research arrangements to support key relationships are established
- 3.3. Service guidelines including terms of trade and fees are established for key relationships and communicated to representatives
- 3.4. Organisation capacity briefs are prepared for key relationships including clear statements on standards of service, quality assurance procedures, reporting arrangements and compliance with legislative and regulatory requirements
4. Establish monitoring procedures for key relationship services
- 4.1. Procedures for representatives to report on key relationship service delivery are established
- 4.2. Reporting arrangements that protect client confidentiality and comply with industry codes of practice and legislative and regulatory requirements are established
- 4.3. Client satisfaction surveys are conducted with key relationships and results communicated to staff
- 4.4. Complaints are resolved efficiently and analysed for potential service improvements
- 4.5. Regular reviews are made of key relationship service delivery against organisation standards and Key Performance Indicators (KPIs)
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.
Key relationships definition will vary from organisation to organisation but will generally include one or more of the following:
previous dealings with the organisation (e.g. a regular client)
marketing potential including the potential for a client if satisfied, to refer many new clients to the organisation)
a special personal or business relationship between the client and principals/staff of the organisation.
Changing market conditions may include:
economic conditions
exchange rate
interest rates
media, publicity and public relations reports
political conditions
strength of the dollar.
Client profiles may include:
levels of language
personal details
the clients' needs in terms of the product or service provided.
Appropriate training may include:
leadership training
marketing training
other financial services training
product and service training
sales and relationship building training.
Administrative and research arrangements may include:
arrangements for producing information to be provided to clients, how it is generated and validated
frequency of contact
methods of contacting clients.
Legislative and regulatory requirements may include:
Australian Securities and Investments Commission (ASIC) Act, policy and guidelines
Consumer Affairs Act
Consumer Credit Code
contract law
Corporations Act
industry codes of practice
Insurance Act
Life Act
Privacy Act
social security regulations
State and Territory legislation
Taxation Acts
Trade Practices Act
trust law.
Procedures for representatives to report may include:
keeping good records and protecting clients' privacy and confidentiality of information
system of reporting on contacts and status of the relationship.
Key Performance Indicators (KPIs) may include:
clients' level of satisfaction as measured by surveys
gaining new business from existing clients
retaining clients.
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.
Key relationships definition will vary from organisation to organisation but will generally include one or more of the following:
previous dealings with the organisation (e.g. a regular client)
marketing potential including the potential for a client if satisfied, to refer many new clients to the organisation)
a special personal or business relationship between the client and principals/staff of the organisation.
Changing market conditions may include:
economic conditions
exchange rate
interest rates
media, publicity and public relations reports
political conditions
strength of the dollar.
Client profiles may include:
levels of language
personal details
the clients' needs in terms of the product or service provided.
Appropriate training may include:
leadership training
marketing training
other financial services training
product and service training
sales and relationship building training.
Administrative and research arrangements may include:
arrangements for producing information to be provided to clients, how it is generated and validated
frequency of contact
methods of contacting clients.
Legislative and regulatory requirements may include:
Australian Securities and Investments Commission (ASIC) Act, policy and guidelines
Consumer Affairs Act
Consumer Credit Code
contract law
Corporations Act
industry codes of practice
Insurance Act
Life Act
Privacy Act
social security regulations
State and Territory legislation
Taxation Acts
Trade Practices Act
trust law.
Procedures for representatives to report may include:
keeping good records and protecting clients' privacy and confidentiality of information
system of reporting on contacts and status of the relationship.
Key Performance Indicators (KPIs) may include:
clients' level of satisfaction as measured by surveys
gaining new business from existing clients
retaining clients.
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:
maintain and use comprehensive knowledge of the financial services industry, industry regulations, codes of practice, products and services provided by an organisation
use high level communication, interpersonal, negotiation, sales and marketing skills
apply strategic planning and performance monitoring
recognise and adapt to any special needs of clients, including cultural, language, race, religion, ethnic origin, socioeconomic status and demographic needs.
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.
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
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:
maintain and use comprehensive knowledge of the financial services industry, industry regulations, codes of practice, products and services provided by an organisation
use high level communication, interpersonal, negotiation, sales and marketing skills
apply strategic planning and performance monitoring
recognise and adapt to any special needs of clients, including cultural, language, race, religion, ethnic origin, socioeconomic status and demographic needs.
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.
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
evaluating samples of work
accessing and validating third party reports.
Guidance information for assessment
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUQ92 | FNSCUS601 | Establish, manage and monitor key relationships | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| J604 | FNS60513 | Advanced Diploma of Superannuation | Qualification |