Course Title: Manage banking and service strategy for small business customers
Part B: Course Detail
Teaching Period: Term1 2021
Course Code: BAFI5235C
Course Title: Manage banking and service strategy for small business customers
School: 650T Vocational Business Education
Campus: City Campus
Program: C5379 - Diploma of Financial Services
Course Contact: Doug Gourlay
Course Contact Phone: +61 3 9925 5944
Course Contact Email: doug.gourlay@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
John Calabro
Email: john.calabro@rmit.edu.au
Nominal Hours: 60
Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.
Pre-requisites and Co-requisites
None
Course Description
This unit describes the skills and knowledge required to manage a team of customer service officers offering tailored services to small business customers and includes establishing and monitoring performance measures, high level problem solving, opportunity seeking and reporting.
It applies to individuals who use a range of managerial techniques and leadership skills to plan and monitor the work of the team while taking responsibility for implementing and promoting strategic business activities.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
FNSBNK501 Manage banking and service strategy for small business customers |
Element: |
1. Develop services for small businesses |
Performance Criteria: |
1.1 Identify attributes, service needs and wants of small business customers as basis for tailoring communications and services 1.2 Analyse current usage patterns of institution's small business customers and identify product and service options for them 1.3 Design new products and services tailored to small business customers, and negotiate their implementation in accordance with institution's business rules and processes 1.4 Identify and plan campaigns targeted to small business portfolio in manner which meets institution's standards and timeframes 1.5 Develop reward and recognition strategies to build customer loyalty and manage implementation |
Element: |
2. Manage small business customer service teams |
Performance Criteria: |
2.1 Effectively develop and communicate team and individual roles, responsibilities, goals and plans following appropriate consultations and in line with established processes and protocols of institution 2.2 Establish service standards and performance indicators to manage and support performance of customer service teams and their portfolios of customers 2.3 Monitor performance of staff within customer service teams and provide feedback as part of performance management processes of institution 2.4 Identify, implement and monitor processes to ensure effective communication with and within small business customer service teams 2.5 Plan, implement and monitor processes to resolve customer complaints |
Element: |
3. Lead, support and develop small business customer service teams |
Performance Criteria: |
3.1 Actively encourage staff to participate in and assume responsibility for team performance 3.2 Model high standards of personal performance, respect for team members and open communications, and provide staff with opportunity and support to identify and resolve problems 3.3 Provide feedback to staff to recognise effort and success, and provide information, advice and coaching as required in timely and effective manner |
Element: |
4. Evaluate and report outcomes |
Performance Criteria: |
4.1 Develop, implement and monitor strategies to support continuous improvement of small business customer service teams 4.2 Report against targets using standards, protocols and procedures, analyse exception or feedback reports and implement processes to rectify faults or capitalise on opportunities 4.3 Review product and service offering targeted to small business customer segment and recommend solutions for improvement in accordance with institution's business rules and processes |
Learning Outcomes
Details of Learning Activities
A range of learning activities are planned for this course including self-paced and collaborative classroom based activities.
The self-paced activities will be delivered thought the Canvas learning management system and include your contribution to discussion threads, project portfolios, quizzes and interactive sessions.
The collaborative classroom based activities will include group discussion, group problem solving activities and opportunities to practice your skills in a simulated/real workplace environment.
We expect you to participate and contribute in all scheduled learning activities.
Teaching Schedule
This course is comprised of one competency: FNSBNK501/BAFI5235C Manage banking and service strategy for small business customers
Induction Session
Prior to training commencement a program level induction session will be conducted that comprises the following:
- Program overview and requirements
- Canvas Learning Hub
- Overview of assessment requirements
- Pre-Training Review including:
- Recognition of Prior Learning and Credit Transfers
- Assessment of current skills and knowledge
- Competency/Grading Criteria
- Plagiarism
- Appeals
- Extensions
- Feedback
- Privacy
- Submission requirements
- Resubmission policy
- Where to get support
- Student responsibilities
Course schedule: Manage banking and service strategy for small business customers, Semester 1, 2021 | ||
Week Commencing |
Topics |
Assessment |
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Week 1
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Introduction to the Course:
Topic One: Develop Services for Small Business |
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Week 2
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Topic One: Develop Services for small business |
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Week 3
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Topic One: Develop Services for small business |
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Week 4
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Topic One: Develop Services for small business |
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Week 5
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Topic One: Develop Services for small business |
Assessment Task 1 Due |
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Week 6
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Topic Two: Manage Small Business Customer Service Teams |
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Week 7
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Topic Two: Manage Small Business Customer Service Teams | |
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Week 8
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Topic Two: Manage Small Business Customer Service Teams Students to finalise Weekly Task to date and Assessment Task Two |
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Week 9
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Topic Three: Lead, Support and Develop Business Customer Service Teams Students to finalise Weekly Task to date and Assessment Task Two |
Assessment Task 2 Due |
Mid-Semester Break | ||
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Week 10
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Assessment 3 Workshop |
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Week 11
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Assessment 3 Workshop |
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Week 12
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Topic Three: Lead, Support and Develop Business Customer Service Teams |
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Week 13
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Assessment Task 3 Due (role play to be conducted in class) |
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Week 14
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Assessment Task 3 Due (role play to be continued) |
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Week 15
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Topic Four: Evaluate and Report Outcomes |
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Week 16
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Topic Five: Develop and Maintain Your Own Knowledge and Skills Resubmissions |
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Week 17
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Grade Entry |
Learning Resources
Prescribed Texts
References
Other Resources
Reading:
- https://www.accc.gov.au/about-us/australian-competition-consumer-commission/legislation
- Swanston Banking Group Product Review Documents
- KPI Workbook
Overview of Assessment
In order to achieve competency in this unit, you must provide
Performance evidence
Evidence of the ability to:
- undertake high level planning and human resource development to manage services for small business customers
- establish and monitor team performance measures and provide feedback and coaching as required
- clearly articulate role and team requirements, and organisational policy and procedures to support performance
- effectively manage a team of small business customer service officers
- review and report on product and service offerings, including the development of appropriate solutions.
Knowledge Evidence
To complete the unit requirements safely and effectively, the individual must:
- analyse and describe the key characteristics of customer motivations, needs and wants
- analyse the key features of and discuss issues relating to the small business market segment
- compare and contrast the benefits and applications of a range of financial products and services
- describe the key features of legislation and regulation relevant to:
- financial services
- company law
- competition and consumers
- outline the key features of organisational systems, policy, procedures and protocols related to managing services for small business customers
- analyse and discuss the key principles of business management
- analyse and discuss the key principles of human resource management.
Assessment conditions
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the banking field of work and include access to:
- office equipment, technology, software and consumables
- financial services product information
- organisational policy, procedures and process documentation.
Feedback
Feedback will be provided throughout the semester in class and/or online discussions. You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.
You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course.
Assessment Tasks
You will demonstrate competency by undertaking three assessments. You must successfully complete all assessments to be deemed competent in this unit.
The assessments for this course have been designed to allow you to apply your learning and demonstrate competency in a variety of ways.
Assessment Task 1: Product/Service Review Document and Marketing Plan - Report
Due: Week 5
Summary and Purpose: For this report you are to satisfactorily complete the Swanston Banking Group ‘Product Review Document’, as one of three assessment of this unit which all must be completed order to be deemed competent for this unit. Completing this report allows you to demonstrate your skills and knowledge in:
- Compare and contrast the benefits and applications of a range of financial products and services
- Communicating and collaborating with stakeholders
- Describe the key features of legislation and regulation relevant to:
- financial services
- company law
- competition and consumers
- Analyse and describe the key characteristics of customer motivations, needs and wants
Assessment Instructions: For this assessment you will asked to complete the following project over three stages:
Stage 1: Product Review Document
This is an individual student project, which is to be the students own work submitted. However, students can work in teams to conduct the research and documentation. Students are to produce a product review document to conduct an analysis on a product/service that they would like to recommend or improve upon.
Complete the product review document, the students must;
Step 1. Identify 3 banking products or services they would like to improve or develop.
Step 2. Work through a Product Review Document to guide you through the analysis
Step 3. Develop a reward and recognition strategy to build customer loyalty
Step 4. Finalise a recommendation report on your product or service
Note, when completing the Product Review document consider the:
- Usage patterns of small business customers
- What would make banking easier for the small business banker
- Legislative and regulative impact/considerations as required
This delivery of the sub-assessment task will be conducted within class timetables. However, it is expected that the majority of this assessment preparation will be completed outside of class.
Stage 2: Product Marketing Plan
Develop your marketing plan for the identified products/services you identified targeting small business
Complete a marketing plan for the products of services the student has identified. The plan must include:
- Objectives;
- Products;
- Market;
- Competition (comparison with other banks)
- Target/s; and
- Action Plan (email, social media, face to face and phone)
Time will be allowed for the sub-assessment task within class timetables. However, it is expected that the majority of this assessment preparation will be completed outside of class.
Assessment Task 2: KPI workbook - Create your own KPI
Due: Week 9
Summary and Purpose: For this activity you are being asked to demonstrate an understanding of the importance of effective Key Performance Indicators (KPI’s) when managing banking and service strategy for small business customers.
This is the second of the three assessment of this unit which all must be completed in order to be deemed competent for this unit.
Assessment Instructions: Students should look at the questions asked in the Week 8 Weekly Activity and expand on what they have already completed in answering in that weekly activity in answering the three questions below.
A number of recent articles including a recent LinkedIn blog found that to gauge the success of marketing efforts (for say a banking product for small business) a number of KPI’s were especially relevant. The articles mentioned:
- Market share
- Brand awareness
- User satisfaction
- Referrals by current users
- Conversion rate from potential query to take up of product or service
- Number of internet page viewings by the public
- Social networking footprint
- Pricing power
Use you class notes and conduct online research to answer the following questions:
Question One: What do you think each of these KPI's above is trying to measure? (500 words)
Question Two: How do these KPI's measure the success of your marketing plan for your banking product or products? (500 words)
Question Three: In your opinion, how would you ensure that these are SMART KPI’s? (500 words)
By SMART we mean:
- Specific
- Measurable
- Achievable
- Relevant
- Timely: is the data readily available?
This is an individual student project, which is to be the students own work submitted.
Complete the assessment which is available on the Canvas system. The teacher can provide support and guidance.
Time will be allowed for this assessment task within class timetables. However, it is expected that the majority of this assessment preparation will be completed outside of class. This is an individual student project, which is to be the students own work submitted.
Assessment Task 3: Role Play - Branch Customer Visit
Due: In class week 13/14
Summary and Purpose: For this activity you are to satisfactorily complete the branch customer visit role-play, the third of the three assessment of this unit which all must be completed in order to be deemed competent for this unit. Completing this report allows you to demonstrate your skills and knowledge in:
- Interact and communicate professionally with customer/s
- Uses active listening and questioning techniques to elicit the views and opinions of others and to confirm understanding
- Participates in verbal exchanges of information, clearly articulating recommendations and instructions using language, tone and pace appropriate to the audience and purpose
- Analyse and describe the key characteristics of customer motivations, needs and wants
- Compare and contrast the benefits and applications of a range of financial products and services
- Describe the key features of legislation and regulation relevant to:
- Financial services
- Provides guidance and constructive feedback as the leader of a small team
- Develops interpersonal skills to establish and enhance rapport with and between team members
Assessment Instructions: By the end of this assessment you will have completed a live role play.
This is a role play (with other students and/or RMIT staff). The role play will focus on knowledge and skills gained in the topics covered in this course, to this point.
The small business client in the role play has a turnover over $150,000 a year in revenue.
Utilising the work you have done developing KPI’s, you are to going to be part of a customer service interaction within a bank where you will play the role of the product manager of your chosen banking product meeting a potential small business client. You will present, in a 7 – 10 minute discussion with the client:
(i) the features of your chosen banking product,
(ii) how it is marketed and
(iii) the KPI's that you look at to measure the success of the product.
You will then write a short report (say 500 words) on:
(i) how you think the meeting went and why and
(ii) what you learnt from the customer feedback.
The delivery of this task will be conducted within class. However, it is expected that preparation will also be completed outside of class.
This is an individual role play which will be watched and assessed by a qualified teacher/assessor.
The role play will be watched and assessed by a qualified teacher/assessor.
Assessment Matrix
The assessment matrix that maps all the assessment is available on Canvas.
Other Information
Submission Requirements
- Ensure that you submit assessments on or before the due date.
- Always retain a copy of your assessment tasks. (hard copy and soft copy)
- When you submit work for assessment at RMIT University you need to use the Assessment task document that includes a declaration and statement of authorship.
- Each page of your assessment should include a footer with your name, student number, the title of the assessment, unit code and title and page numbers.
Resubmissions (VET Programs)
If you are found to be unsuccessful (Not satisfactory/Unsatisfactory) in a Course Assessment Task you will be allowed one resubmission. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission.
If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.
Penalties for Late Submission
Late submissions of assignments without special consideration or extension will automatically be considered a re-submission (see above).
Extensions, Special Consideration and Adjustment to Assessments
Extensions:
Extensions are available for unforeseen circumstances of a short-term nature.
An application form must be submitted to the school at least one working day before the due date of the assessment.
Extensions can be approved for a maximum of one week (seven calendar days) past the due date for an assessment. (Where students need an extension exceeding one week they must instead apply for special consideration.)
Special consideration:
Special consideration is available for unexpected circumstances outside students’ control. These include but are not limited to: unexpected short-term ill health, and unavoidable family, work, cultural or religious commitments.
An application for special consideration is made in advance of an assessment wherever possible but will normally be accepted within five working days after the assessment date
For more information, see the Special Consideration page of the RMIT website.
Adjustments to Assessment:
RMIT provides several adjustments to assessment for students experiencing ongoing or long-term circumstances. Find the right one for your circumstances here.
Changes to the Assessment Scheme
Where a change to assessment approved by the dean/head of school changes an assessment due date, students will be given at least five working days’ notice of the new due date.
Feedback
You can expect to receive marks and feedback on in-course assessment work in time to improve your performance in related assessment tasks later in the course.
Academic Integrity and Misconduct
Students demonstrate academic integrity in their assessment practices by:
- engaging with assessment activities in an honest way;
- providing accountability for the authorship and originality of work submitted;
- acknowledging the work of others and the re-use of original work.
Academic misconduct is addressed in accordance with the Student conduct policy
Assessment involving research with human participants, their information or their tissue, or animal subjects is carried out in accordance with the Staff ethics and integrity policy.
For further information see the Academic Integrity website.
Review and Appeal
A student may request a review of an assessment result or appeal a final course grade in accordance with the Conduct of assessment and appeals section of the Assessment Processes.
Grade Criteria
You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.
The following grades are available for this course.
CA - Competency Achieved
NYC - Not Yet Competent
DNS - Did Not Submit for assessment
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