PEF Case Study

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Task 1 Employee Personal and Professional Development Plans

ASSESSMENT EXPLANATION

InPEF Practical Activity (Task 2)you completed a personal/professional development plan for yourself. In the following scenario there are legal and ethical ramifications to the breach in the loan application process by Bill Mason, however these aspects are being researched and assessed in the Risk Module (Diploma students only).

For the purpose of this unit of competency we will work from the angle of personal and professional development for both Bill Mason and Lena Taruman in behaving both professionally and as a team.

SCENARIO

Michael and Samantha Jones own Finance Broking Pty Ltd and are Authorised Credit Licensee (ACL) holders. They currently have four brokers that work in the business; Shoshana Baumgarten, Ron Meehan, Lena Taruman, and Bill Mason who is the most recent to the business. There are two other staff that are administrative support.

Michael and Samantha have recently completed an internal audit of files and noticed a breach by Bill Mason. It appears a systematic issue was established for not advising commission charged in the credit proposal. Michael noted that all of Bills applications had this critical item missing. Bills response looks to be rather flippant, and he has a weak smile on his face whenever the issue is raised which has really incensed the staff because they collectively feel Bill isnt taking the situation seriously.

This breach also calls into question the integrity of the company and all those who work there. Lena Taruman has become quite verbally aggressive towards Bill because of his perceived attitude, that he has put the business at risk, which then puts their jobs at risk. Michael and Samantha are simultaneously handling the risk and legal ramifications as well as looking at what personal and professional development plan needs to be put into place for both Bill and Lena. Bill has been placed on an undertaking which is a serious plan whereby his loan applications will be reviewed for the next six months. In line with this undertaking, Michael and Samantha are providing refresher training in the Risk Module (Diploma students only) so the technical aspects of his professional development will be handled there.

INSTRUCTIONS

Some of the Development Plan sections have been pre-populated, those which require responses are numbered and you are to complete these along with any research required.

1. Lena and Bills issues and their personal and professional development plan will be used in the Role Play in which you will play either Michael or Samantha and provide feedback to Lena on her behaviour and exhibition of her feelings along with her lack of file notes which is a compliance issue. Think about what sort of support can be provided considering she finds writing in English from a legislative perspective a bit difficult. Bill requires feedback on how to show the team that he does care about the business and everyones reputation and working on his attitude.

• Utilise the Personality Quiz Reports for Bill and Lena embedded below to guide your planning and responses.
• Work out how you can re-build the relationship between Bill and Lena by advising they will have to participate in strategies that will support them both and utilise the information from the SWOT Analysis. What these strategies are is, is up to you but must support each others weaknesses.

2. Once you have completed Bill and Lenas Personal and Professional Development Plan, complete the SWOT Analysis by discussing a strategy for each of them to support each others weakness which has been pre-populated for you. You will also provide information on what could threaten their ability to support each other.

• Briefly discuss how Bill and Lena strengths could support each others weaknesses and balance each other out.
• What further issue/s could they have with each other if their weaknesses take over (threats)?

Task 1 Part 1: Lena Taruman Profile

Lena is from Indonesia and has been in Australia for 6 years. She has been working for Finance Broking Pty Ltdas a finance broker for the past 4 years part time. Lena was an accountant in Indonesia previously, is extremely smart and understands products, policy, and loan structures very well. She is also quite good at gaining new clients through her contacts. Lena sometimes struggles to express herself in written English. Upon checking some of Lenas files you have noticed that she does not make sufficient file notes which may be an issue under the responsible lending guidelines of RG273 Best Interest Duty. Briefly, this legislation forms the basis of recommending the mortgage loan product/s that match the clients needs and goals. File notes must explain in detail why the recommended loan product is in the clients best interest. These notes are a legal component of the loan application process so are vitally important. Lena is a member of the FBAA.

Note to student:Utilise the Personality Quiz Report for Lena embedded here to guide your planning and responses.If you cannot open this document here, please find a copy under the Resources tab of the Learning Centre.

PART 1 Lena Taruman

1. DEVELOPMENT ACTIVITIES

Research and explainone development activity for each of the listed growth needs to support the brokers professional growth in the workplace.

Instructions

Explanation and development activities must be accompanied by the website address (URL) to provide evidence that research has been done and is applicable. Following are some ideas:

• types/names of courses and/or further training
• books to read and their explanation copied and pasted
• groups to join
• personal strategies of self-awareness
• industry association CPD

2. FEEDBACK

You will use this as your script for the role play. Write the conversation you will have with Lena and provide feedback that addresses the following:

1. The issue an example has been providedof the expected level of details in your answer
2. Acknowledge to Lena how this kind of situation has affected her, but also what kind of behaviour is expected in the workplace.

• Explain your answer as if you are speaking to her about her strengths and weakness using the personality breakdown on the previous page and/or the personality profile embedded at the Lenas scenario explanation;

1. The impact on the staff and the business because of the tension and anger Lena demonstrates towards Bill; and
2. One strategy for changes/improvements for Follow ethical practices.

3. SMART GOALS

You are to use the SMART goals system detail how the two listed goals can be achieved. You will find a breakdown of what the SMART acronym means in your Learner Guide.

* Explanation of each part of SMART goals has been taken fromhttps://au.oberlo.com/blog/smart-goal-examples

4. EMOTIONAL/MENTAL WELLBEING

We know that emotional and mental wellbeing either supports or can negatively impact our health. Its important to always seek ways to work on our negative stress reactions. The negative stress reactions below are taken from Lenas personality report under the section Under stress, you... section of the report.

Complete the table by listingone strategy to use at home and a different strategy to use at work. We understand that the same strategy could work in both environments, but to sufficiently address the research component of this unit we require two different strategies for each negative stress reaction listed.

PART 2 Bill Mason Profile

Bill is originally from England and has been in Australia working as a finance broker for the past three years and is the newest member of the team having been with Finance Broking Pty Ltd for six months. He has a prior background in a non-finance field but great ability as a salesperson. He can turn a new prospect into a client quite easily. His problem is his ability to get back to the clients in a timely manner and is often a little disorganised which translates into not following the procedures in the loan application process. Bill isnt working to high standard of ethics which has caused the breach because his personal views and negative biases have gotten in the way of following what is in his clients best interest which is to inform them of his commissions. Bill is a member of the MFAA.

Note to student: Utilise the Personality Quiz Report for Bill embedded here to guide your planning and responses.If you cannot open this document here, please find a copy under the Resources tab of the Learning Centre.

1. DEVELOPMENT ACTIVITIES

Research and explainone development activity for each of the listed growth needs to support the brokers professional growth in the workplace.

Student instructions:

Explanation and development activities must be accompanied by the website address (URL) to provide evidence that research has been done and is applicable. Following are some ideas:

• types/names of courses and/or further training
• books to read and their explanation copied and pasted
• groups to join
• personal strategies of self-awareness
• industry association CPD

2. FEEDBACK

You will use this as your script for the role play. Write the conversation you will have with Bill and provide feedback that addresses the following:

3. SMART GOALS

You are to use the SMART goals system detail how the two listed goals can be achieved. You will find a breakdown of what the SMART acronym means in your Learner Guide.

* Explanation of each part of SMART goals has been taken fromhttps://au.oberlo.com/blog/smart-goal-examples

4. EMOTIONAL/MENTAL WELLBEING

We know that emotional and mental wellbeing either supports or can negatively impact our health. Its important to always seek ways to work on our negative stress reactions. The negative stress reactions below are taken from Lenas personality report under the section Under stress, you... section of the report.

Complete the table by listingone strategy to use at home and a different strategy to use at work. We understand that the same strategy could work in both environments, but to sufficiently address the research component of this unit we require two different strategies for each negative stress reaction listed.

Task 2 Combined SWOT ANALYSIS

Based on the plans developed in Task 1, complete the SWOT Analysis below. You will also use this SWOT Analysis during thePEF Role Playassessment.

1. Briefly discuss what Bill and Lena can do to support each other by using their Number 1 strength for each others Number 1 weakness (opportunity).

2. Briefly discuss what further issue/s Bill and Lena could have with each other if their Number 2 weakness takes over again (threat).

SWOT Analysis Worksheet