Course Title: Undertake risk identification
Part B: Course Detail
Teaching Period: Term1 2024
Course Code: BUSM8910C
Course Title: Undertake risk identification
Important Information:
Please note that this course may have compulsory in-person attendance requirements for some teaching activities.
To participate in any RMIT course in-person activities or assessment, you will need to comply with RMIT vaccination requirements which are applicable during the duration of the course. This RMIT requirement includes being vaccinated against COVID-19 or holding a valid medical exemption.
Please read this RMIT Enrolment Procedure as it has important information regarding COVID vaccination and your study at RMIT: https://policies.rmit.edu.au/document/view.php?id=209.
Please read the Student website for additional requirements of in-person attendance: https://www.rmit.edu.au/covid/coming-to-campus
Please check your Canvas course shell closer to when the course starts to see if this course requires mandatory in-person attendance. The delivery method of the course might have to change quickly in response to changes in the local state/national directive regarding in-person course attendance.
School: 525T Business & Enterprise
Campus: City Campus
Program: C5419 - Diploma of Finance and Mortgage Broking Management
Course Contact: Mandepp Chahil
Course Contact Phone: +61 3 9925 5980
Course Contact Email: mandeep.chahil@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
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.
Pre-requisites and Co-requisites
Nil
Course Description
his unit describes the skills and knowledge required in an organisation to identify risks, assess existing controls and recommend improvements and mitigation strategies.
It applies to those 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.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
FNSRSK511 Undertake risk identification |
Element: |
1. Conduct research and prepare for consultation |
Performance Criteria: |
1.1 Identify stakeholders and provide information pertinent to risk identification 1.2 Examine organisational processes to identify risks to which organisation is susceptible 1.3 Define organisational environment and boundaries of review in consultations with stakeholders |
Element: |
2. Consult stakeholders and determine risk to be addressed |
Performance Criteria: |
2.1 Identify internal and external stakeholders to be engaged 2.2 Apply standards for risk management as indicated by regulators to identify risks 2.3 Review identified risk cluster elements with internal and external stakeholders 2.4 Obtain information on risks as identified by stakeholders |
Element: |
3. Identify and assess controls |
Performance Criteria: |
3.1 Evaluate application and effectiveness of existing controls 3.2 Establish need for updated or new controls for identified risks 3.3 Recommend amendments to existing controls and report need for new controls, as required |
Learning Outcomes
On successful completion of this course you will have developed and applied the skills and knowledge required to demonstrate competency in the above elements.
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 various technology platforms and include your contribution to, reflective journals, 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.There are 3 assessments for this course that need to be completed to be deemed competent.
Teaching Schedule
Week |
Week Beginning |
Topic |
Assessment Remarks |
|
1
|
12-18 February
|
Activity Read page 1- 6 of the learner guide on risk management and detail the difference between Pure risk and speculative risk. Name 5 speculative risks likely to impact Mortgage Brokers.
|
|
|
2 |
19-25 February |
Cont.: Sect 1 - Identify and apply risk management processes
Activity Read p.7. Discuss in a class group who are the stakeholders in the risk identification process in broking organisation.
|
|
|
3 |
26 February - 3 March
|
Cont: Sect 1
Read page 14 and refer to the following link https://www.worksafe.vic.gov.au/laws-and-regulations
Activity 3 What are the regulations that business must adhere to provide a safe working environment for their staff?
|
|
| 4 |
4-10 March
|
Cont. Sect 1-Read page 12
Activity What is the likely business operational risks likely to occur in the workplace?
|
Assessment Task 1 due this week
|
|
5 |
11-17 March |
Cont. Sect 1- Read page 14 around step 2 establishing the context.
Activity How can operational objectives and financial objectives be better managed so that the risk is mitigated around the issues that are shown.
|
|
| 6 |
18-24 March |
Cont.Section 1- Read page 18
Activity Why the need for a Risk Register? Post on the Discussion Board.
|
Assessment Task 2 due |
| 7 | 25-28th March |
Risk Transfer
Activity Q.A session on Assessment 1
|
Mid term Break 29th March till 7th April
|
8
|
8th April 2024 |
Cont. Section 1- Read page 18-20
Discuss credit risk
Activity Complete a risk control plan at your workplace and how effective can it be. |
Assessment 3 Due |
9 |
15th April | Feedback and re-submissions |
|
Learning Resources
Prescribed Texts
References
Other Resources
Overview of Assessment
Assessment for this course is ongoing throughout the semester. Your knowledge and understanding of course content is assessed through participation in class exercises, oral/written presentations and through the application of learned skills and insights. Full assessment briefs will be provided and can be found on CANVAS.
Assessment Tasks
There are three (3) assessment tasks you need to complete satisfactorily for this unit. All three assessment tasks must be satisfactorily completed to be deemed competent in this unit.
Completing this assessment task demonstrates the knowledge around assessing and identifying risk in the practice, applying systematic approach to managing the risks and mitigation of risks.
There will be three (3) assessment tasks in this course, and you must complete all of them satisfactorily to be deemed competent.
Assessment Task 1- Due in Week 4
This assessment is a research-based assessment. You will need to research and answer ten (10) knowledge-based questions based on the scenarios provided.
Assessment Task 2-Due in Week 7
Case-study- By responding to the case study questions, you will be demonstrating your knowledge of ethical principles and apply ethical frameworks to decide on, carry out, and evaluate the effectiveness of a course of action in response to an ethical situation in their workplace.
Assessment Task 3- Due in Week 8
Role-play- This assessment task builds on the scenarios that you worked with in Assessment Task 2. Review Assessment Task 2 to refresh your memory. The scenarios have been provided for you again below. You will use the information in the scenario to participate in two role - plays.
Assessment Matrix
There will be three (3) assessment tasks in this course, and you must complete all of them satisfactorily to be deemed competent.
Assessment Task 1- Due in Week 4
This assessment is a research-based assessment. You will need to research and answer ten (10) knowledge-based questions based on the scenarios provided.
Assessment Task 2-Due in Week 6
Case-study- By responding to the case study questions, you will be demonstrating your knowledge of ethical principles and apply ethical frameworks to decide on, carry out, and evaluate the effectiveness of a course of action in response to an ethical situation in their workplace.
Assessment Task 3- Due in Week 8
Role-play- This assessment task builds on the scenarios that you worked with in Assessment Task 2. Review Assessment Task 2 to refresh your memory. The scenarios have been provided for you again below. You will use the information in the scenario to participate in two role - plays.
Assessment MatrixThe assessment matrix that maps all the assessment is available in Canvas under 'Assignments'.
All assessments will utilise a competency-based model and will be deemed as either Satisfactory or Not Yet Satisfactory.
Course Overview: Access Course Overview