Course Title: Assess risks

Part A: Course Overview

Program: C5379 Diploma of Financial Services

Course Title: Assess risks

Portfolio: Vocational Education

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.

Terms

Course Code

Campus

Career

School

Learning Mode

Teaching Period(s)

BUSM8008C

City Campus

TAFE

650T Vocational Business Education

Face-to-Face or Internet

 Term1 2018,
Term2 2018,
Term1 2020,
Term2 2020,
Term1 2021

Course Contact: Doug Gourlay

Course Contact Phone: +61 3 9925 5944

Course Contact Email: doug.gourlay@rmit.edu.au



Course Description

This unit describes the skills and knowledge required to examine the likelihood of financial risks and their consequences, and assess the organisation’s exposure to those risks.

It applies to individuals who provide specialised knowledge, and who use systematic approaches to problem solving and make recommendations within organisational processes and procedures.

Pre-requisite Courses and Assumed Knowledge and Capabilities

None



National Competency Codes and Titles

National Element Code & Title:

FNSRSK502 Assess risks

Elements:

1. Develop risk evaluation criteria

2. Assess current exposure

3. Compare exposure with guidelines

4. Prepare probability assessment

5. Communicate with relevant internal and external stakeholders

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
  • develop risk evaluation criteria and conduct effective analysis of financial and legislative risk situations
  • prepare a risk map prioritising risk, based on risk analysis
  • develop recommendations to mitigate risk.

Knowledge Evidence

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

  • identify and explain the key features and purpose of Australian standards for risk management
  • analyse and discuss risk management principles and practices, and key terminology
  • outline the key organisational policy, procedures and operational guidelines relating to risk assessment
  • research risk exposure levels in the financial services industry
  • identify residual risk levels and check risk appetite levels for the industry
  • evaluate risk consequences for the organisation
  • identify and explain the role of internal and external stakeholders relevant to risk.

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.