Field Business
Review of Financial Management unit standards
|
Subfield |
Domain |
ID |
|
Financial Management |
Credit Administration |
16757 - 16759, 21415, 21416, 32193 |
|
Credit Management |
16760, 16761, 16958, 16960, 17701, 17703, 17704, 32189, 32194 |
Ringa Hora Workforce Development Council has completed the review of the unit standards listed above.
Date new versions published March 2025
Planned review date December 2029
Summary
Ringa Hora brought forward the review of the listed Credit Administration and Credit Management unit standards to align with the review of the qualifications New Zealand Certificate in Credit Administration (Level 3) [Ref: 2765] and New Zealand Certificate in Credit Management (Level 4) [Ref: 2766].
Consultation occurred across August - November 2024 in online meetings with subject matter experts from the credit industry and wider Financial Services sector and training providers. The unit standards have been updated to ensure the contexts of trade credit and finance are both represented in the standards, and the standards are able to be assessed in a variety of environments (e.g. workplace-based, face-to-face, or blended).
Main changes
· Title of unit standard 16960 was changed to remove ‘manage’ and become more assessable for all learners within trade credit and finance companies.
· Title of unit standard 16761 was simplified.
· Guidance information was updated to consider trade credit and finance contexts.
Detailed list of unit standards – classification, title, level, and credits
All changes are in bold.
|
Key to review category |
|
|
A |
Dates changed, but no other changes are made - the new version of the standard carries the same ID and a new version number |
|
B |
Changes made, but the overall outcome remains the same - the new version of the standard carries the same ID and a new version number |
|
C |
Major changes that necessitate the registration of a replacement standard with a new ID |
|
D |
Standard will expire and not be replaced |
Business > Financial Management > Credit Administration
|
ID |
Title |
Level |
Credit |
Review Category |
|
16757 |
Determine and communicate credit application outcomes |
3 |
10 |
B |
|
16758 |
Administer the recovery of credit |
3 |
10 |
B |
|
16759 |
Demonstrate call skills for debt collection |
3 |
5 |
B |
|
21415 |
Demonstrate knowledge of legislation applicable to credit administration |
3 |
5 |
B |
|
21416 |
Administer credit control |
3 |
10 |
B |
|
32193 |
Monitor client credit behaviour |
3 |
10 |
B |
Business > Financial Management > Credit Management
|
ID |
Title |
Level |
Credit |
Review Category |
|
16760 |
Demonstrate knowledge of credit dispute resolution processes |
3 |
5 |
B |
|
16761 |
Demonstrate knowledge of the repossession of goods in accordance with credit repossession legislation Demonstrate knowledge of the repossession of goods using credit repossession legislation |
3 |
5 |
B |
|
16958 |
Evaluate creditworthiness |
4 |
10 |
B |
|
16960 |
Develop, implement, manage, and review credit policy Develop, implement, and review credit policy |
5 |
10 |
B |
|
17701 |
Produce and distribute management reports to manage credit risk |
4 |
5 |
B |
|
17703 |
Interpret and demonstrate knowledge of the legal requirements for contracts in credit management |
4 |
10 |
B |
|
17704 |
Demonstrate knowledge of the recovery of debt using legal proceedings |
4 |
5 |
B |
|
32189 |
Manage credit accounts |
4 |
10 |
B |
|
32194 |
Gather, maintain and interpret information for the Personal Property Securities Register |
4 |
5 |
B |