Assessor Resource

FNSRSK512
Assess risks

Assessment tool

Version 1.0
Issue Date: May 2024


This unit describes the skills and knowledge required to assess the exposure to identified risks in the organisation by evaluating the likelihood of risks occurring and their consequences.

It applies to individuals who use specialised knowledge to develop systematic approaches to problem solve and make recommendations within the organisation.

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

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)


Evidence Required

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:

conduct a risk assessment of at least two risks for an organisation.

In the course of the above the candidate must communicate and consult with appropriate external and internal stakeholders.

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 features and purpose of standards for risk management as indicated by regulators

systematic issues, trends and emerging risks

risk management principles, practices and terminology

organisational policy, procedures and operational guidelines relating to risk assessment

key features of evaluation criteria including risk exposure and tolerance levels

methods for developing measurement criteria

residual risk levels for the industry

risk appetite levels for the industry

incident assessment and analysis including:

root cause analysis

remediation plans

methods for prioritising risks, including preparing risk maps and conducting risk analysis

risk consequences for the organisation

methods for mapping threat summaries and ranking risk issues

roles of internal and external stakeholders in risk management.

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.

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

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:

conduct a risk assessment of at least two risks for an organisation.

In the course of the above the candidate must communicate and consult with appropriate external and internal stakeholders.

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 features and purpose of standards for risk management as indicated by regulators

systematic issues, trends and emerging risks

risk management principles, practices and terminology

organisational policy, procedures and operational guidelines relating to risk assessment

key features of evaluation criteria including risk exposure and tolerance levels

methods for developing measurement criteria

residual risk levels for the industry

risk appetite levels for the industry

incident assessment and analysis including:

root cause analysis

remediation plans

methods for prioritising risks, including preparing risk maps and conducting risk analysis

risk consequences for the organisation

methods for mapping threat summaries and ranking risk issues

roles of internal and external stakeholders in risk management.

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.
Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Identify risks in organisational processes and procedures following standards for risk management as indicated by regulators 
Identify implications of risk factors to organisation and create evaluation criteria 
Apply applicable risk assessment tools, establish probability and assess potential consequence of risk in an organisation 
Conduct spot checks and determine quality of data 
Identify mitigating effect of existing controls and use evaluation criteria to assess exposure to risk 
Compare risk exposure levels against risk appetites of organisation, and identify and report unacceptable residual risks 
Review and critically analyse risk appetite monitoring process and document findings 
Analyse issues related to risk using measurement criteria 
Identify issues arising from measurement assessment and determine the risk probability 
Rank and summarise threats and risk issues as a risk map 
Provide risk map to appropriate stakeholders 
Report issues and incidents on risk profile to business according to organisational policies and procedures 
Determine reporting requirements of issues and incidents to regulators 

Forms

Assessment Cover Sheet

FNSRSK512 - Assess risks
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:

Assessment Record Sheet

FNSRSK512 - Assess risks

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: