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Follow the links below to find material targeted to the unit's elements, performance criteria, required skills and knowledge

Elements and Performance Criteria

1. Research financial markets organisational risk management framework
   • Research the main risks for financial markets
   • Analyse the impact of regulatory and technological changes on the financial markets risk landscape
   • Research risk mitigation strategies and controls used for managing key financial markets risks
   • Identify the key risks outlined in the risk management framework of the organisation
2. Identify and assess individual risk management responsibilities
   • Identify individual role in relation to the three lines of defence
   • Identify key risks for the organisation relevant to own job role
   • Analyse the link between own Key Performance Indicators (KPIs) and the risk framework of the organisation
3. Review individual work practices
   • Critically analyse work tasks and processes to identify potential risks
   • Analyse controls used to detect and prevent risks associated with own job role
4. Respond to risk events
   • Assess anomalies in data or processes
   • Escalate anomalies in data or processes according to organisational policies and procedures
   • Record relevant information in relation to risk event, including any required actions
5. Identify and monitor ongoing requirements of risk management
   • Monitor organisational risks within responsibility of own job role
   • Identify and research ongoing issues relating to financial markets organisational risk management frameworks
   • Monitor and respond to changes to risk management framework requirements and organisational procedures

Performance Evidence

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.

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Knowledge Evidence

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.

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