NZQA Expiring unit standard
24756 version 2
Page 1 of 5
Title
Resolve disputes in the financial services industry
Level
4
Credits
5
Purpose
People credited with this unit standard are able to:
– demonstrate knowledge of in-house and appropriate
external dispute resolution services for the financial services
industry;
– establish that a dispute exists in the financial services
industry;
– investigate a dispute and determine action to be taken in
the financial services industry;
– implement dispute resolution procedures in the financial
services industry; and
– finalise a dispute in the financial services industry.
Classification
Financial Services > Financial Services - Organisational Skills
Available grade
Achieved
Explanatory notes
1
This unit standard has been based on the Australian unit of competency
FNSICGEN404B, Resolve disputes available at http://ntis.gov.au. This is supported
and endorsed by the Australian standard setting body Innovation and Business
Services Australia and ETITO (ElectroTechnology Industry Training Organisation).
2
Assessment against this unit standard may be on job, or off job in a simulated work
environment or a combination of these within the financial services industry context.
3
References
Disputes Tribunals Act 1988;
Disputes Tribunals Rules 1989;
Arbitration Act 1996;
and all subsequent amendments and replacements.
4
All activities must comply with any policies, procedures, and requirements of the
organisations involved; the standards of relevant professional bodies including codes
of ethics; and any relevant legislative and/or regulatory requirements.
Outcomes and evidence requirements
Outcome 1
Demonstrate knowledge of in-house and appropriate external dispute resolution services
for the financial services industry.
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA Expiring unit standard
Range
24756 version 2
Page 2 of 5
external dispute resolution services may include but are not limited to –
candidate’s professional body, Disputes Tribunal, the Banking Ombudsman,
Insurance and Savings Ombudsman, Arbitrators’ and Mediators’ Institute of
New Zealand Inc;
evidence of the in-house dispute resolution service and at least one external
dispute resolution service relevant to candidate’s own role is required.
Evidence requirements
1.1
Jurisdiction and powers of the dispute resolution service are described in terms
of its functions.
1.2
Limitations of amounts of claim by applicant are identified in accordance with
dispute resolution service procedures.
1.3
Right of persons to appear and summons to witnesses are outlined in
accordance with dispute resolution service procedures.
1.4
Procedure for implementing service’s dispute resolution processes are
explained in accordance with dispute resolution service procedures.
Range
1.5
may include but is not limited to – prescribed forms to be
completed, appointment processes.
Appeals processes are described in accordance with dispute resolution service
procedures.
Outcome 2
Establish that a dispute exists in the financial services industry.
Evidence requirements
2.1
All documentation relating to the original problem is identified and clarified in
terms of the grounds for the dispute.
Range
2.2
Contact is made with all parties to identify and clarify the disputed issues in
accordance with in-house dispute resolution procedures.
Range
2.3
grounds for the dispute may include – interpretation of terms and
conditions, claims, liability, validity of contract, failure to provide
agreed service, provision of inaccurate advice, fraud.
all parties may include – employer, insurer, claimant, risk
manager, service providers, brokers, investigators or assessors,
industry and professional organisations, unions.
The fact that the customer has a dispute is established in terms of legitimacy
and that the initial complaint has not already been settled to the customer's
satisfaction.
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA Expiring unit standard
24756 version 2
Page 3 of 5
2.4
All information is evaluated against the organisational operating procedures in
accordance with in-house dispute resolution procedures.
2.5
Information relevant to the dispute resolution process is provided to the
customer.
Range
includes – organisation's obligations, organisational procedures
and timeframes;
may include – customer details, customer's past history with the
company and other companies, type of business and product or
service.
Outcome 3
Investigate a dispute and determine action to be taken in the financial services industry.
Evidence requirements
3.1
All information evaluated in performance criterion 2.4 is reviewed and further
investigations are undertaken in accordance with in-house dispute resolution
procedures.
Range
3.2
investigations may include but are not limited to consideration of –
has the correct procedure been followed, has the customer been
kept informed of the progress of the dispute, was the initial
decision that is being disputed based on adequate information.
Timelines are established and adhered to in accordance with in-house dispute
resolution procedures.
Range
includes but is not limited to – customer notification.
3.3
Action to be taken is determined in accordance with the facts, legislation,
organisational procedures and policies, and industry codes of practice.
3.4
Appropriate personnel are informed of action to be taken in accordance with
organisational procedures.
Outcome 4
Implement dispute resolution procedures in the financial services industry.
Evidence requirements
4.1
The customer is informed of the decision, and negotiations are carried out with
claimant or representative in accordance with in-house dispute resolution
procedures.
Range
The Skills Organisation
SSB Code 100401
may include but is not limited to – giving reasons for the decision if
appropriate.
 New Zealand Qualifications Authority 2016
NZQA Expiring unit standard
24756 version 2
Page 4 of 5
4.2
In-house dispute resolution procedures are implemented in a manner that is
timely and, as far as practicable, non-litigious, and respectful of the rights of the
customer.
4.3
Unresolved disputes are referred to formal external dispute resolution services.
external dispute resolution services may include – candidate’s
professional body, Disputes Tribunal, the Banking Ombudsman,
Insurance and Savings Ombudsman, Arbitrators’ and Mediators’
Institute of New Zealand Inc.
Range
Outcome 5
Finalise a dispute in the financial services industry.
Evidence requirements
5.1
All outcomes of the dispute resolution process are recorded in accordance with
dispute resolution service procedures.
5.2
All parties affected by the resolution decision are clearly and promptly advised
on the outcome and their rights in relation to review of the decision.
5.3
Relevant documentation is prepared according to legislation, regulations and
codes of practice for unresolved disputes which have been referred to formal
external dispute resolution services.
5.4
Actions required by the resolution decision are attended to in accordance with
dispute resolution service procedures.
may include – in-house resolution, external dispute resolution
service.
Range
5.5
All documentation is completed in accordance with legislation and
organisational procedures.
This unit standard is expiring. Assessment against the standard must take place by
the last date for assessment set out below.
Status information and last date for assessment for superseded versions
Process
Version Date
Last Date for Assessment
Registration
1
20 June 2008
31 December 2017
Review
2
18 June 2014
31 December 2017
Consent and Moderation Requirements (CMR) reference
0003
This CMR can be accessed at http://www.nzqa.govt.nz/framework/search/index.do.
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA Expiring unit standard
24756 version 2
Page 5 of 5
Please note
Providers must be granted consent to assess against standards (accredited) by NZQA,
before they can report credits from assessment against unit standards or deliver courses
of study leading to that assessment.
Industry Training Organisations must be granted consent to assess against standards by
NZQA before they can register credits from assessment against unit standards.
Providers and Industry Training Organisations, which have been granted consent and
which are assessing against unit standards must engage with the moderation system that
applies to those standards.
Requirements for consent to assess and an outline of the moderation system that applies
to this standard are outlined in the Consent and Moderation Requirements (CMR). The
CMR also includes useful information about special requirements for organisations wishing
to develop education and training programmes, such as minimum qualifications for tutors
and assessors, and special resource requirements.
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016