Course Title: Undertake risk identification

Part A: Course Overview

Program: C5379 Diploma of Financial Services

Course Title: Undertake risk identification

Portfolio: BUS Portfolio Office

Nominal Hours: 40

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.

Course Contact: Callie Harvey

Course Contact Phone: +61 3 9925 5772

Course Contact Email: callie.harve@rmit.edu.au



Course Description

This unit describes the skills and knowledge required to identify the financial risks faced by an organisation, evaluate existing risk controls and recommend improvements appropriate to mitigate the impact of those risks.

 

It applies to individuals who use specialised knowledge, systematic approaches and analytical skills to monitor and manage information relevant to organisational activity.

 

No licensing, legislative or certification requirements apply to this unit at the time of publication.

Pre-requisite Courses and Assumed Knowledge and Capabilities

None



National Competency Codes and Titles

National Element Code & Title:

FNSRSK501 Undertake risk identification

Elements:

1. Communicate with relevant internal and external stakeholders at each stage

2. Identify and describe risk

3. Identify and assess controls


Learning Outcomes


Overview of Assessment

In order to achieve competency in this unit, you must provide

Performance evidence

Evidence of the ability to:

  • effectively liaise and communicate with stakeholders regarding risk identification
  • identify financial risk clusters, and analyse and prioritise the risks
  • document risks and controls, and make recommendations for risk control improvements.

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

  • identify and explain the role of internal and external stakeholders relevant to risk
  • identify and explain the key features and purpose of the Australian standards for risk management
  • compare and contrast methods of identifying financial and legislative risks
  • explain the concept of risk clusters
  • explain the key principles and practices of risk management
  • explain the key principles and importance of risk controls
  • explain risk mitigation strategies.

 

Assessment conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the risk management field of work and include access to:

  • office equipment, technology, software and consumables
  • relevant legislation, regulations and codes of practice
  • relevant Australian standards relating to risk management.

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.