To gain a Certificate Iv in Credit Management you will need to complete 12 units. 9 compulsory (C) Core units and then select 3 (E) Elective units of your choice.
Assessing credit applications
- FNSCRD401 Assess credit applications (Core) - 6 weeks online
- FNSRSK401 Implement risk management strategies (Core) - 6 weeks online
The ability to effectively assess an application for credit, taking into account the potential risk the applicant may constitute to an organisation, is a crucial skill for credit professionals.
This course addresses the following aspects of managing risk, particularly when assessing applications for credit:
- How to identify and apply risk management techniques
- Evaluate the information provided in the credit application
- Assess the risk of granting the level of credit applied for and determining the appropriate level of credit
- Formulating recommendations as to how the risk management process may be improved
The role of securities in credit
- FNSCRD402 Establish and maintain appropriate security (Core) - 6 weeks online
The ability to select and obtain security from a debtor, guarantor or lessor is an intrinsic part of a credit professional’s role and function.
This course explores the following aspects of securitisation:
- How to determine if security is required
- Selecting the appropriate security to be obtained from the range of security arrangements relevant to the type of credit to be offered
- Completing the legislative and regulatory requirements needed to ensure that the security can be enforced
- Maintaining accurate security documentation to enable ongoing validity
- FNSORG401 Conduct individual work within a compliance framework (Core) - 6 weeks online
- FNSINC401 Apply principles of professional practice to work in the financial services industry (Core) - 6 weeks online
Working in credit requires a sound understanding of the issues that arise in relation to legal compliance together with an appreciation of the significance of the wider financial services industry.
- The critical first step in managing legal compliance is the ability to identify the legislative and regulatory provisions that must be adhered to in the credit function and how this information should be managed
- Once the compliance parameters are established this needs to be translated to an individual’s role within the credit team. This means that the person needs to understand how to maintain their personal professional development and the strategies available to achieve this.
- Applying procedures that are designed to achieve an adherence to a compliance framework requires an understanding of effective work and time management
- Compliance arrangements are subject to ongoing monitoring so that changes in compliance requirements are identified and as necessary communicated to other members of a credit team.
Bad & doubtful debt
- FNSCRD403 Manage and recover bad and doubtful debts (Core) - 6 weeks online
The ability to identify and recover an overdue customer account is a core requirement of a credit professional.
This course deals with the key aspects of dealing with a debt that has been categorised as bad or doubtful including:
- The steps involved in reviewing an account to determine if a debt is likely to become bad or doubtful
- Understanding the difference between a bad and a doubtful debt
- Methods for dealing with a customer’s excuses for not paying the outstanding amount
- Negotiating with the customer to recover the outstanding payment
- Monitoring and documenting the outcome of the recovery action
Legal recovery of debt
- FNSCRD404 Utilise the legal process to recover outstanding debt (Core) - 6 weeks online
Depending on the history of the account and previous attempts to recover an outstanding debt consideration may have to be given to using the legal process to recover an outstanding debt.
This course explores the complex world of legal recovery including:
- Undertake a review of an account to confirm the suitability of legal action
- Identify the relevant jurisdiction and court
- Prepare the relevant documents needed to initiate the recovery of outstanding debt(s)
- Understand how to prepare a brief for a third party such as a lawyer or mercantile agent
- Follow through on legal action, and
- Make recommendations to the relevant personnel arising from the legal action
- FNSCUS402 Resolve disputes (Core) - 6 weeks online
- BSBCUS403 Implement customer service standards (Elective) - 6 weeks online
- FNSCRD405 Manage overdue customer accounts (Core) - 6 weeks online
The interrelationship between effective customer service, collection skills and dealing with disputes is a common occurrence for credit professionals and can be a difficult process to manage effectively.
This course explores the interaction between the following:
- Effective telephone collection skills to resolve outstanding payments
- Providing a quality customer service in accordance with organisational standards while achieving collection performance targets
- Using effective dispute resolution techniques to maintain the customer relationship and achieve collection outcomes
Understanding consumer credit
- FNSCRD503 Promote understanding of the role and effective use of consumer credit (Elective) - 12 weeks online
This course of study is designed to inform learners about the role and function of consumer credit including the ability to:
- Understand and adhere to the requirements that must be met by a holder of an Australian
- Credit Licence including issues relating to ‘responsible lending’
- Discuss with a consumer client the advantages and disadvantages of consumer credit and the range of consumer credit facilities that are available including secured and unsecured loans
- Explain to the client the different fees and charges that may apply to credit products
- Inform the client of strategies that may be utilised to avoid excessive or unmanageable debt
- Inform clients of the role and function of credit reference reports
Manage a trust account
- BSBCNV506 Establish and manage a trust account (Elective) - 6 weeks online
The management of a trust account is relevant to those people who need to hold a Master Licence in accordance with the Commercial Agents and Private Inquiry Agents Act 2004 (NSW) and/or the National Consumer Credit Protection Act 2009 (Cth) relating to the holding of an Australian Credit License.
This course addresses the following:
- The steps involved in establishing a trust account and/or reviewing an existing trust account
- Developing and implementing good practice when managing a trust account
- Controlling activities associated with the management of a trust account
- Strategies for the reconciliation and verification of activities involving a trust account
Dealing with customers
- BSBCMM301 Process customer complaints (Elective) - 6 weeks online
- BSBCUE203 Conduct customer engagement (Elective) - 6 weeks online
This option is designed to meet the needs of credit professionals whose role requires them to deliver enhanced customer service to clients.
The course addresses the key skills involved in:
- Understanding how to prepare to contact a customer
- Techniques for ensuring that the customer’s requirements are addressed
- When to use escalation when dealing with a customer
- Dealing with complaints from customers
- Understanding when a compliant may need to be referred to an external body and/or internal person