NZQA Expiring unit standard
Title
24759 version 2
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Develop, present, and negotiate solutions for customers in the financial services industry
Level
Purpose
4 Credits 5
People credited with this unit standard are able to, in the financial services industry:
– develop appropriate strategies and solutions to meet customer’s needs;
– present appropriate strategies and solutions to the customer;
– negotiate and finalise a financial solution with the customer;
– coordinate implementation of the agreed solution;
– complete and maintain necessary documentation; and
– agree on and provide ongoing customer service.
Classification Financial Services > Financial Advice
Available grade Achieved
Explanatory notes
1 This unit standard has been based on the Australian unit of competency
FNSASIC302B, Develop, present and negotiate client solutions 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.
It may be assessed against alone or in conjunction with Unit 24758, Establish customer relationships and analyse needs in the financial services industry.
3 References
New Zealand Bill of Rights Act 1990;
Commerce Act 1986;
Companies Act 1993;
Consumer Guarantees Act 1993;
Credit Contracts and Consumer Finance Act 2003;
Electronic Transactions Act 2002;
Fair Trading Act 1986;
Financial Reporting Act 1993;
Financial Transactions Reporting Act 1996;
Health and Safety in Employment Act 1992;
Human Rights Act 1993;
Income Tax Act 2007;
The Skills Organisation
SSB Code 100401

New Zealand Qualifications Authority 2020 New Zealand Qualifications Aut

NZQA Expiring unit standard 24759 version 2
Page 2 of 5
KiwiSaver Act 2006;
NZ IFRS (New Zealand equivalent to International Financial Reporting Standards) available from http://www.nzica.com
;
Privacy Act 1993
Securities Act 1978;
Securities Markets Act 1988;
Trustee Act 1956;
Trustee Amendment Act 1988; industry codes of practice; 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.
5 Definition
Predetermined guidelines
– guidelines developed by product providers and/or organisations incorporating recommended usage and practice.
6 This unit standard is one of a series based on the Australian Securities Investment
Commission (ASIC) competencies. This unit standard and Unit 24758, Establish customer relationships and analyse needs in the financial services industry are based on the Tier 2 ASIC skill requirements, however, demonstrated competence in these standards alone is not sufficient for ASIC licensing.
7 Range
– evidence relating to a minimum of three customers is required to cover a representative range of needs and products.
Outcome 1
Develop appropriate strategies and solutions to meet customer’s needs in the financial services industry.
Evidence requirements
1.1 An appropriate strategy to provide for identified needs and outcomes is determined from analysis of products, customer risk profile, and assessment of customer needs, in accordance with industry codes of practice and predetermined guidelines.
Range identified needs and outcomes may include but are not limited to
– debt position, security, expectations of income from this product, family income, business needs, expectations of access to product, expectations of lifecycle and length of product; risk profile may include – risk factors and return expectations, volatility of income and capital, market and sector risks (economic cycle, fixed interest, property, stock market), access restrictions on product, economic, specific product risk, borrowing risk/gearing.
The Skills Organisation
SSB Code 100401
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New Zealand Qualifications Authority 2020 New Zealand Qualifications Aut

NZQA Expiring unit standard
1.2
24759 version 2
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Relevant research, analysis and product modelling is conducted in accordance with industry codes of practice and predetermined guidelines.
1.3 Appropriate solution is drafted for presentation to customer in accordance with industry codes of practice and predetermined guidelines.
Outcome 2
Present appropriate strategies and solutions to the customer in the financial services industry.
Evidence requirements
2.1 Product knowledge appropriate for the solution offered is demonstrated when presenting the financial product/solution to the customer in accordance with predetermined guidelines and industry codes of practice.
2.2 The proposed solution is explained and discussed with the customer in a clear and unambiguous way and relevant details, terms and conditions of the financial product and/or service are reinforced and confirmed with the customer.
2.3 Impacts and possible risks of the solution are disclosed in a clear and concise manner to the customer in accordance with industry codes of practice.
2.4 Customer is provided with written supporting documentation of the solution offered and guided through the key aspects of the documentation in accordance with industry codes of practice.
Range documentation may include but is not limited to – electronic or manual methods, advice, disclaimers, disclosures, product application forms.
Outcome 3
Negotiate and finalise a financial solution with the customer in the financial services industry.
Evidence requirements
3.1 Concerns and/or issues the customer has regarding the proposed solution are discussed and clarified in accordance with industry codes of practice.
Range concerns and/or issues may include
– beliefs about performance, security, conservative, risk, fluctuations in income and/or capital, moderate, speculator, passive/active, long-term or short-term investor.
3.2 Confirmation that they fully understand all elements of the proposed solution is sought from the customer and documented.
Outcome 4
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SSB Code 100401
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NZQA Expiring unit standard 24759 version 2
Page 4 of 5
Coordinate implementation of the agreed solution in the financial services industry.
Evidence requirements
4.1 The formal agreement of the customer to the proposed solution is gained in accordance with industry codes of practice.
4.2 Associated fee and cost structures are clearly explained and confirmation of understanding gained from the customer in accordance with industry codes of practice.
4.3 Timeframes for execution and processing are clearly explained and confirmation of understanding gained from the customer in accordance with industry codes of practice.
Outcome 5
Complete necessary documentation in the financial services industry.
Evidence requirements
5.1 Proposal and all other statutory and transactional documents are completed and signed off by the customer in accordance with industry codes of practice and organisational requirements.
5.2 Copies of appropriate documentation and the signed agreement are exchanged in accordance with legislation, industry codes of practice and organisational requirements.
Outcome 6
Agree on and provide ongoing customer service in the financial services industry.
Evidence requirements
6.1 Type and form of ongoing service, including reporting on performance and review of solution is agreed with the customer in accordance with industry codes of practice and organisational requirements.
6.2 Fees and costs for ongoing and specifically defined service are clearly explained and confirmation of understanding gained from the customer in accordance with industry codes of practice and organisational requirements.
6.3 Ongoing service is provided as agreed with customer and in accordance with industry codes of practice and organisational requirements.
Replacement information This unit standard and unit standard 24758 have been replaced by unit standard 28197.
The Skills Organisation
SSB Code 100401

New Zealand Qualifications Authority 2020 New Zealand Qualifications Aut

NZQA Expiring unit standard 24759 version 2
Page 5 of 5
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
.
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 2020 New Zealand Qualifications Aut