Unit of competency Outline

Date retreived
22/07/2026 7:06 PM 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.

Develop and maintain professional relationships in financial services industry

Develop and maintain professional relationships in financial services industry

Unit of competency
National Code
FNSCUS511
State Code
OCI62
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
04/11/2020
View on TGA
State Implementation and Classification
Approved Date
11/03/2021
Field of Education
081199 - Banking, Finance And Related Fields, N.e.c.
Original Release Date
11/03/2021
Nominal Hours
45
Description
This unit describes the skills and knowledge required to communicate and network with a wide range of people, internal and external to the organisation, to increase efficiency and build continuing professional relationships.The unit applies to those who develop relationships in the financial services industry to inform their work. They use a range of specialised managerial techniques to engage with others. The relationships may be with clients, financial advisers, third-party referrers and other professionals in the financial services industry.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Establish professional business relationships
  • 1.1 Identify business and professional networks and contacts to benefit own work and that of organisation
  • 1.2 Communicate with identified network members and contacts according to organisational policies and procedures, legislative and regulatory requirements, and professional codes of practice
  • 1.3 Maintain confidentiality when communicating and negotiating with internal and external parties
2. Develop professional business relationships
  • 2.1 Develop and secure positive relationships according to organisation’s social, business and ethical standards
  • 2.2 Develop existing and identified relationships using business and professional networks to promote and market organisation
  • 2.3 Identify areas of business practices with potential for efficiency improvements
3. Review and maintain relationships
  • 3.1 Engage with required personnel to review relationships according to organisational needs
  • 3.2 Identify other sources of information that assist relationships according to organisational policies and procedures
  • 3.3 Expand reputation of organisation in cooperation with other professionals and third parties and identify new and improved business practices
  • 3.4 Maintain business and professional network and identify new and improved business practices in identified areas
No information
No information