Unit of competency Outline

Date retreived
22/07/2026 7:04 AM AWST

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Assess credit applications

Assess credit applications

Unit of competency
National Code
FNSCRD401
State Code
AUQ65
TGA Status
Current
DTWD Status
Approved
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
20
Description
This unit describes the skills and knowledge required to assess and verify information provided in credit applications, establish credit terms and limits, and notify customers of credit application outcomes.It applies to individuals who may use a range of organisational techniques to manage credit and debt recovery. 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. Satisfy initial enquiry
  • 1.1 Respond to initial customer enquiries on type, range and availability of credit and provide information with courtesy, respect and recognition of special needs of customers
  • 1.2 Provide basic information, such as terms and conditions and interest rate, and determine potential securitisation needs in accordance with credit policy and legislative requirements
2. Assess and verify credit information
  • 2.1 Verify credit applications and documentation in accordance with organisational policy and procedures to maintain accuracy of credit database information
  • 2.2 Analyse credit information to establish that sufficient evidence of accurate information has been provided
  • 2.3 Maintain liaison with customers and relevant internal and external personnel to ensure information is kept up to date and disseminated appropriately
3. Assess risk
  • 3.1 Identify and evaluate possible risks to determine overall level of risk associated with application
  • 3.2 Identify need to take security, minimise risk exposure and provide protection against risk in accordance with organisational risk management policy
  • 3.3 Document risk assessment in accordance with organisational procedures
4. Establish credit terms and limits
  • 4.1 Make decision on how to proceed with credit application based on assessed information and in accordance with organisational risk management policy
  • 4.2 Determine credit terms and limits within organisational credit policy guidelines and advise customers of credit decisions promptly and courteously
  • 4.3 Complete credit account administration according to organisational credit policy and timelines, and legislative requirements
No information
No information
Replaces
State Code National Code Title Type
D4083 FNSCRD401A Assess credit applications Unit of competency