Unit of competency Outline

Date retreived
22/07/2026 8:18 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.

Identify and manage individuals experiencing hardship

Identify and manage individuals experiencing hardship

Unit of competency
National Code
FNSMCA413
State Code
OCZ63
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
02/02/2021
View on TGA
State Implementation and Classification
Approved Date
22/04/2021
Field of Education
081199 - Banking, Finance And Related Fields, N.e.c.
Original Release Date
22/04/2021
Nominal Hours
35
Description
This unit describes the skills and knowledge required to identify and manage individuals facing financial hardship and in vulnerable situations. It includes reviewing and confirming hardship applications, reporting outcomes back to the client and monitoring the agreement for any breaches.The unit applies to individuals who engage with debtors in the recovery of outstanding debts.Note The term "debtor’ in this unit relates to any customer who may have a debt to an organisation.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. Identify individual’s situation and prepare for hardship application
  • 1.1 Identify that individual is experiencing hardship
  • 1.2 Identify reasons for individual’s hardship
  • 1.3 Identify and distribute hardship application and communicate to individual list of supporting documents required according to organisational policies and procedures
  • 1.4 Communicate rights to individual for contacting bank and financier according to legislative and regulatory requirements
2. Review and confirm hardship application
  • 2.1 Discuss individual’s hardship application with required stakeholders
  • 2.2 Negotiate with individual and discuss potential outcomes of hardship application
  • 2.3 Confirm outcome of application and advise individual of terms of agreement according to organisational policies and procedures
  • 2.4 Notify client of hardship arrangement outcome
3. Monitor progress of arrangement
  • 3.1 Liaise with client to monitor and identify breach of agreement and issue breach notices as required
  • 3.2 Identify need for commencement of repossession or legal processes as required
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