Unit of competency Outline

Date retreived
23/07/2026 4:39 AM AWST

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Establish and maintain appropriate security options for credit facilities

Establish and maintain appropriate security options for credit facilities

Unit of competency
National Code
FNSCRD412
State Code
OEC03
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
15/06/2022
View on TGA
State Implementation and Classification
Approved Date
07/12/2022
Field of Education
081105 - Investment And Securities
Original Release Date
07/12/2022
Nominal Hours
20
Description
This unit describes the skills and knowledge required to determine and implement appropriate security options in relation to individual customers to protect the organisation against loss and exposure.The unit applies to individuals who use a range of specialised techniques and strategies to manage their work outcomes.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Users are advised to check with the relevant state and territory regulatory authorities to confirm those requirements.
Notes
Elements and Performance Criteria
1. Assess and communicate security requirements
  • 1.1 Undertake risk analysis of credit applications according to organisational credit policies and guidelines
  • 1.2 Determine customer risk level and identify security requirements
  • 1.3 Explain security requirements to customers, considering any special needs of customers
2. Identify available security options and suitability of available securities
  • 2.1 Identify range of securities available and determine which are required for type of credit facility
  • 2.2 Determine customer security arrangements as required within organisational guidelines
3. Apply appropriate security
  • 3.1 Confirm value of security through asset analysis and valuation
  • 3.2 Register security interest according to legislative requirements
4. Monitor and review effectiveness of security arrangement
  • 4.1 Maintain knowledge of market conditions according to organisation’s credit policies and guidelines
  • 4.2 Monitor customer accounts and determine appropriateness of security arrangements
  • 4.3 Amend security arrangement documentation to reflect changes in customers’ relationships or circumstances as required
No information
No information
Replaces
State Code National Code Title Type
AUQ63 FNSCRD402 Establish and maintain appropriate security Unit of competency