Interested in a simple Skills Scan and Learning Progress Tracker tool for the Asset finance practitioner standard?
Knowledge
K1: The factors affecting the legal operation of an asset finance business including industry legislation, regulation, and codes. This includes but is not limited to "know your customer" (KYC), "Anti-money laundering" (AML) and the Finance and Leasing Authority (FLA) business finance code.
K2: Manage asset finance data safely and securely.
K3: Validate and assess sourced data that impacts an asset finance agreement.
K4: Select a suitable option from a range of potential asset finance solutions, taking account of asset type, customer requirements and market.
K5: Structure and quote an asset finance agreement that is competitive, affordable, and profitable.
K6: Negotiation techniques and how to use these to achieve positive outcomes in asset finance agreements.
K7: The processes for opening or closing an asset finance agreement.
K8: A range of communication methods and their potential usage when discussing asset finance products/services.
K9: Software systems and how to use them throughout the work life cycle.
K10: Own organisational structure, functions, and processes. How this works together to provide successful commercial outcomes.
K11: Techniques to build and manage a range of stakeholder relationships.
K12: Identify, report and handle potential fraud.
K13: Amend an asset finance agreement, including how to process the return or disposal of an asset.
K14: Handle complaints relating to asset finance agreements in accordance with both regulation and organisation requirements.
K15: Inspect the physical condition of an asset that is supplied via an asset finance agreement.
Skills
S1: Identify and apply relevant industry legislation, regulation, and codes to provide compliant asset finance solutions.
S2: Manage asset finance data compliantly.
S3: Validate and assess all relevant data that affects an asset finance arrangement.
S4: Determine asset finance decisions and recommendations based on the evidence.
S5: Contrast the features and benefits of different types of finance agreements. Select and recommend a suitable customer solution.
S6: Explain the suitability of an asset finance agreement to the customer both clearly and fairly.
S7: Structure and quote an asset finance transaction that is competitive, compliant, and profitable.
S8: Negotiate a positive outcome for the customer and your own organisation.
S9: Complete asset finance negotiations by acting compliantly and following due processes (including due diligence).
S10: Determine and respond to changes in circumstances that occur during the asset finance life cycle. This includes potential buyouts, extensions and returns.
S11: Identify and pay out the correct monies owed to other organisations.
S12: Identify and deploy asset finance software.
S13: Build and maintain working relationships with colleagues and clients.
S14: Quality assure own work in accordance with organisational requirements.
S15: Plan and prioritise workload to meet objectives.
S16: Adapt the use of written and verbal communications to the audience.
S17: Spot and report possible non-compliance and fraud, escalating issues when needed. This includes issues like theft and money laundering.
S18: Handle complaints in accordance with both regulatory requirements and own organisations process, escalating unresolved issues where needed.
S19: Inspect an asset to examine its condition in line with the asset finance agreement.
S20: Recover an asset when the evidence requires it.
Behaviours
B1: Show honesty and integrity in their asset finance work.
B2: Apply a tactful approach in their dealings with others.
B3: Adopt a curious approach to seek out solutions.
B4: Work alone and in team settings to support organisational needs.
B5: Take responsibility for your own personal development. Share expertise to build the capability of colleagues within their team.
B6: Take an active interest in the affairs of the business and the wider sector.
Duty 1
DUTY: Support commercial aims by contributing to the generation and/or handling of sales opportunities.
K4
K5
K6
K7
K8
K10
K11
S1
S3
S5
S6
S7
S8
S13
S16
B1
B2
B3
B4
B5
Duty 2
DUTY: Create and review documentation to the required standard in order to fund an asset for the lessee.
K1
K2
K3
K7
K9
S1
S2
S3
S4
S7
S9
S12
S15
B1
B5
Duty 3
DUTY: Analyse and interpret data that is relevant to the delivery of asset finance. Take appropriate action such as making a recommendation, a decision or a referral.
K2
K3
K4
K5
K9
K12
S2
S3
S4
S5
S7
S9
S12
S14
S17
B1
B3
Duty 4
DUTY: Prepare and submit proposals for credit or for underwriting in line with lessor set criteria.
K5
K7
K10
S3
S4
S6
S7
B1
B3
Duty 5
DUTY: Quality assure the asset finance arrangement in order to process and fund the transaction.
K7
K9
K10
S3
S4
S5
S6
S11
S12
S14
B1
B3
Duty 6
DUTY: Liaise with lessees, brokers, suppliers and internal stakeholders to ensure delivery of asset finance to the lessee.
K7
K10
K11
K15
S11
S13
S15
S16
S19
B1
B2
B3
B4
Duty 7
DUTY: Update and maintain information relating to the asset finance deal via the organisations IT system(s).
K1
K9
K10
K13
S2
S10
S12
S14
S15
B6
Duty 8
DUTY: Deliver the asset finance offering by identifying and providing the required administration and communication support.
K7
K9
K10
K13
S10
S12
S14
S15
B4
Duty 9
DUTY: Identify and handle in-life events that occur during the life of an asset finance agreement. Operate within regulation, the lessor's processes, and relevant codes of conduct.
K1
K2
K3
K7
K9
K11
K13
S1
S2
S3
S4
S9
S10
S12
S13
S14
S16
B1
B3
B4
Duty 10
DUTY: Negotiate and/or administer the return, collection/disposal, extension or buy-out of the asset. This may be either at the natural end of the agreement or due to other termination events.
K1
K2
K3
K13
K15
S1
S2
S3
S4
S11
S14
S19
S20
B1
B2
B3
B6
Duty 11
DUTY: Identify potential fraud and other types of non-compliance, escalating as appropriate.
K1
K3
K12
K15
S1
S3
S4
S9
S17
S19
S20
B1
B2
B3
B6
Duty 12
DUTY: Identify and handle complaints from stakeholders in line with regulation, the lessor's processes, and relevant codes of conduct.
