FNSSAM612 — Identify and evaluate marketing opportunities in the financial services industry

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What an assessment for FNSSAM612 must cover

46 assessable components: 5 elements (16 performance criteria), 5 performance evidence and 16 knowledge evidence requirements, plus 9 foundation skills. An audit-defensible tool maps every question and task back to these — that mapping is the coverage matrix Auditori generates alongside the assessment.

Elements & performance criteria

1 Identify trends and opportunities in financial services industry

1.1Analyse information on current and emerging needs of market and organisation in consultation with others
1.2Review business plan to identify organisational objectives, emerging trends and external influences on financial services industry
1.3Identify and research opportunities and potential markets, and develop potential new products
1.4Investigate entrepreneurial, innovative approaches and creative ideas for potential business application and contribution to business

2 Investigate marketing and product development opportunities

2.1Identify and analyse opportunities according to organisational goals and capabilities, and determine impact on current business and client base
2.2Evaluate external factors, costs, benefits, risks and opportunities and determine financial viability of each marketing opportunity
2.3Determine estimated returns on investment and potential competitors of marketing opportunities
2.4Describe and rank marketing opportunities in terms of their viability and likely contribution to business

3 Assess legislative compliance of marketing opportunities

3.1Identify legislative and regulatory guidelines applicable to marketing opportunities and determine compliance with relevant legislation
3.2Reject or modify marketing opportunities not meeting compliance requirements
3.3Document and define legislative compliance issues in marketing proposal

4 Determine required changes to current operations

4.1Identify and document changes required to current operations
4.2Assess required organisational changes to client base to enable provision of continued quality of service to existing clients
4.3Identify resource requirements for changed operations, and determine and communicate viability of changes to current operations to key stakeholders

5 Develop marketing proposals

5.1Provide viability assessments for marketing opportunities and detail marketing strategy
5.2Prepare proposals for marketing development and provide additional information as required

Performance evidence

identify and evaluate at least three different marketing opportunities in the financial services industry.
In the course of the above, the candidate must:
research trends and opportunities to enter, shape or influence current and potential markets and develop potential new products
identify and document changes to resource requirements, operations and other organisational changes required for the new financial product to be offered
interpret and apply legislative and regulatory guidelines and compliance requirements applicable to marketing and to the financial product proposed to be offered.

Knowledge evidence

legislation and regulatory requirements related to financial product development
organisational policies and procedures relating to marketing of financial services and products
organisational documentation processes
current market forces and trends in the financial services industry
communication and negotiation strategies
financial and risk management strategies
marketing concepts related to identifying and evaluating opportunities
marketing processes and considerations
process for assessing market competition
industry codes of practice
sectors of the financial services industry
business plan objectives
services available in the financial services industry
service risk factors and their relationship to return expectations
tools and techniques to analyse financial data
techniques for estimating costs and return on investment of marketing opportunities.

Foundation skills

Numeracy: Calculates, compares and analyses a range of numerical and financial data to determine quantities and trends using appropriate tools
Oral communication: Uses collaborative and inclusive techniques, including active listening and questioning, to convey information, present a case and elicit the views and opinions of others Participates in verbal exchanges using pace, intonation and gestures to present information and encourage engagement with different audiences
Reading: Researches and analyses complex textual information from a range of sources to identify key details, make judgements and determine requirements and options
Writing: Structures and sequences information logically to present recommendations and options, using document formats required to the audience and purpose Uses clear and detailed language, incorporating correct spelling, grammar and terminology, to convey complex information
Teamwork: Uses a range of communication techniques to unambiguously articulate concepts and ideas to a diverse audience
Planning and organising: Develops plans to address a range of tasks to achieve goals
Initiative and enterprise: Identifies opportunities for the development and implementation of innovative approaches to the conduct of own work
Self-management: Identifies the applicable legislative requirements and organisational goals when undertaking tasks
Technology: Uses digital technologies to access, filter, organise, store and present information while continually monitoring industry trends

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.

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Questions about assessing FNSSAM612

What does an assessment tool for FNSSAM612 need to cover?

To satisfy the Principles of Assessment and Rules of Evidence, an assessment for FNSSAM612 needs to address all 46 unit components: 5 elements with 16 performance criteria, 5 performance evidence requirements, 16 knowledge evidence requirements, and the foundation skills. A coverage matrix mapping each question and task to these components is what an auditor looks for.

How does Auditori generate an assessment tool for FNSSAM612?

Auditori pulls the current release of FNSSAM612 from training.gov.au and generates a complete package: candidate assessment, assessor guide with model answers and observation criteria, and a coverage matrix mapping every component. A suitably qualified person then reviews and approves the draft in a built-in workflow — consistent with ASQA's guidance on AI use in VET — before export as branded PDF and editable Word.

Is the first assessment tool really free?

Yes. Every new account includes one free credit — enough to generate the complete assessment tool for FNSSAM612 — with no card and no subscription required. After that it's pay-as-you-go per unit.

Can I check my existing FNSSAM612 assessment instead of generating a new one?

Yes — upload your existing assessment or learner guide and Auditori maps it against every element, performance criterion, PE and KE of FNSSAM612, showing exactly what's covered and what's missing. Mapping costs a quarter of a credit.

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