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:
implement at least three controls relevant to own area of operation and responsibilities to comply with organisational risk management strategies
report at least two risk management breaches or concerns of differing severity according to organisational policy and procedures.
In the course of the above, the candidate must:
establish processes to monitor, audit and review application of risk management strategies.
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 principles of risk management
the key features and purpose of key standards for risk management as indicated by regulators
methods for accessing and interpreting organisational strategy, policy and procedures
methods for identifying and treating organisational risks, and risks within the candidate’s own area of operation and responsibility
key risk management strategies, controls, treatments and practices relevant to own area of operation and responsibility
methods for identifying and applying controls for cross-organisation risk
methods for identifying, recording evidence and reporting risk management or compliance breaches or concerns
industry whistle-blower protections for challenging and reporting risk management or compliance breaches or concerns
techniques for auditing and reviewing risk strategy implementation
organisational tools, strategies, policy, and procedures relating to risk management and compliance
key financial services legislation and regulation required to produce the performance evidence.
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
legislation, regulations and codes of practice required to produce the performance evidence
standards for risk management as indicated by regulators.
Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.