Unit of competency Outline

Date retreived
22/07/2026 10:40 AM AWST

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Manage client service and business information

Manage client service and business information

Unit of competency
National Code
FNSORG507
State Code
AUS50
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
080399 - Business And Management, N.e.c.
Original Release Date
16/09/2015
Nominal Hours
100
Description
This unit describes the skills and knowledge required to implement sound business management practices which support the provision of professional services to clients, and related product and service distribution activities.It applies to experienced individuals who use a range of specialist and managerial techniques to manage their work and provide support and direction to others. It is particularly relevant to senior managers or principals within financial or insurance distribution contexts.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. Demonstrate business management skills
  • 1.1 Identify administrative tasks relevant to business and follow effective business management practices to operate business
  • 1.2 Develop financial plan covering income, expenditure and cash flow, and monitor financial performance of business against plan
  • 1.3 Provide job descriptions and operation manuals to business areas or units
  • 1.4 Record and store copies of proposals, correspondence, agreements and financial records, and maintain in systematic manner
  • 1.5 Monitor and evaluate commission and other remuneration statements
2. Maintain comprehensive records of client affairs
  • 2.1 Document interview records, contact with clients and other key business relationships accurately in compliance with client service arrangements and other relevant organisational requirements
  • 2.2 Keep records of disclosure of client capacity and terms of engagement
  • 2.3 Maintain up-to-date copies of fact finder and customer advice records, client records and correspondence in systematic manner
3. Maintain relevant reference material
  • 3.1 Update reference material on regular basis and maintain straightforward access for staff
  • 3.2 Maintain accurate information on products, services and distribution channels
4. Develop and maintain competency requirements of staff
  • 4.1 Identify competency requirements for staff to support efficient service and implement professional development at appropriate time
  • 4.2 Reflect identified goals and needs to achieve business outcomes in development plans
  • 4.3 Maintain, evaluate and review development plans against requirements on regular basis
  • 4.4 Meet authorisation requirements relevant to professional development activities
No information
No information
Replaces
State Code National Code Title Type
D4268 FNSORG507A Manage client service and business information Unit of competency