List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.
The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:
identify at least two risks relevant to own job role.
In the course of the above, the candidate must:
liaise and communicate with required persons for escalations
evaluate consequence of unmitigated risks for the organisation
analyse own work environment to identify anomalies that may indicate risk
critically assess data and processes in own work environment to identify risk.
The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:
key risk management principles and practices, including:
risk tolerance, appetite, exposure, detection, and prevention
risk mitigation strategies and controls used for managing key financial markets risks
key steps of the risk management process
the three lines of defence
risk evaluation criteria
risk maps
prioritisation methods
residual risk
risk culture
organisational policies, procedures and operational guidelines relating to risk evaluation criteria and risk assessment
the effects of regulatory and technological change on the financial markets risk landscape
methods for identifying data and process anomalies
organisational policies and procedures for escalation of anomalies and risk events.
Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.
This includes access to:
office equipment, technology, software and consumables
relevant organisational policies and procedures, legislation, regulations and codes of practice.
Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.