FNSPRM605 — Establish or review marketing, client services and supplier relationships

Elements & performance criteria

Performance evidence

• establish or review and implement the organisation’s marketing strategy
• establish or review suppliers and the required level of service, including the development of terms of appointment and service standards
• establish or review business systems against practice requirements, document service standards and communicate to stakeholders.
• Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

Knowledge evidence

• identify and describe factors which may affect the marketing and performance of client services
• assess risks and benefits associated with using a range of products and services within a practice
• explain cost–benefit analyses applied to systems and procedures
• describe the key features of: • financial practice administrative processes and systems • financial products, their characteristics and risk profile • financial practice professional services
• explain the key requirements of relevant legislation, regulations and codes of practice impacting on the financial services industry
• analyse and discuss marketing and advertising principles, techniques and tools
• describe the key features of office information technology systems and software.

Foundation skills

• Reading: Accesses and analyses complex information and data from a wide variety of sources to identify specific criteria and determine actions required
• Writing: Prepares high quality documentation using appropriate formats, with information and data organised logically and sequentially Uses clear and concise language, correct spelling and grammar and appropriate terminology to convey information appropriate to the audience and purpose
• Oral Communication: Effectively participates in verbal exchanges using active listening and questioning techniques to convey and clarify information and negotiate outcomes Presents information, structuring tone, pace and content in line with the audience and purpose
• Numeracy: Interprets numerical and financial information to determine requirements Uses mathematical concepts to sequence and prioritise timelines and budgets
• Navigate the world of work: Works autonomously, making high level decisions to achieve and improve organisational goals Develops and implements strategies that ensure organisational policy, procedures and regulatory requirements are being met Monitors and reviews organisational policy, procedures and adherence to legislative requirements to implement and manage change
• Interact with others: Uses a variety of relevant communication tools and strategies in building and maintaining effective working relationships Shares knowledge, information and experience openly as an integral part of the working relationship
• Get the work done: Plans strategic priorities and outcomes within a flexible, efficient and effective context in a diverse environment exposed to competing demands Gathers and analyses data, and seeks feedback to improve plans and processes Identifies key factors that impact on decisions and their outcomes, drawing on experience, competing priorities and decision-making strategies where appropriate Explores and incubates new and innovative ideas through unconstrained analysis and critical thinking to develop and improve organisational goals Uses digital tools and systems to access, analyse, record and share information

Unit content sourced from training.gov.au — © Commonwealth of Australia, licensed under CC BY 4.0. Auditori is not affiliated with the Department of Employment and Workplace Relations.

Questions about assessing FNSPRM605