This qualification provides cross-industry competencies for experienced risk managers and covers risk management activities undertaken by senior personnel to develop innovative strategies for dealing with complex risk management issues.
12 units must be achieved:
4 core units
plus8 elective units
6 elective units must be selected from the elective units listed below.
The remaining 2 elective units may be selected from the elective units listed below, any endorsed Training Package or accredited course. Elective units may be selected from a Diploma or Advanced Diploma qualification.
Elective units must be relevant to the work outcome, local industry requirements and the qualification level.
Units of competency with a 6xx code completed in the Diploma cannot be counted again in the Advanced Diploma.
Core units of competency:
FNSRSK601A Develop and implement risk mitigation plan
FNSRSK602A Determine and manage risk exposure strategies
BSBCOM602B Develop and create compliance requirements
BSBCOM603B Plan and establish compliance management systems
Elective units of competency:
Managing Financial Risk
FNSACC609A Evaluate financial risk
FNSORG505A Prepare financial reports to meet statutory requirements
FNSORG602A Develop and manage financial systems
BSBMGT515A Manage operational plan
Corporate Governance
FNSACC604A Monitor corporate governance activities
FNSACC606A Conduct internal audit
FNSFMK505A Comply with financial services legislation and industry codes of practice
FNSPRM601A Establish, supervise and monitor practice systems to conform with legislation and regulations
Managing Compliance
FNSACC506A Implement and maintain internal control procedures
FNSORG508A Analyse and comment on management reports
FNSORG603A Establish and prepare operational guidelines in a financial services organisation
BSBCOM501B Identify and interpret compliance requirements
BSBCOM503B Develop processes for the management of breaches in compliance requirements
BSBINM501A Manage an information or knowledge management system
BSBOHS502B Participate in the management of the OHS information and data systems
BSBOHS504B Apply principles of OHS risk management
BSBOHS506B Monitor and facilitate the management of hazards associated with plant
BSBOHS507B Facilitate the application of principles of occupational health to control OHS risk
BSBOHS601B Develop a systematic approach to managing OHS
BSBOHS602B Develop OHS information and data analysis and reporting and recording processes
BSBOHS603B Analyse and evaluate OHS risk
BSBOHS604B Apply ergonomic principles to control OHS risk
BSBOHS605B Apply occupational hygiene principles to control OHS risk
BSBOHS607B Advise on application of safe design principles to control OHS risk
BSBOHS608B Conduct an OHS audit
BSBOHS609B Evaluate an organisation's OHS performance
Strategic Risk Management and Business Continuity
FNSORG601A Negotiate to achieve goals and manage disputes
BSBMGT605B Provide leadership across the organisation
BSBMGT615A Contribute to organisation development
BSBMGT616A Develop and implement strategic plans
BSBMGT617A Develop and implement a business plan
BSBOHS606B Develop and implement crisis management processes
BSBPMG508A Manage project risk
BSBSUS501A Develop workplace policy and procedures for sustainability
Preferred pathways for candidates entering this qualification include:
Diploma of Integrated Risk Management
The primary pathway from this qualification is employment in a financial services sector or other industry organisation senior risk management role involving:
managing risk in operational areas
strategic planning
A further learning pathway could be study in relevant higher education programs.
Not applicable.
Not applicable.
The following table contains a summary of the employability skills required by industry for this qualification. The employability skills facets described here are broad industry requirements that may vary depending on qualification packaging options.
Employability Skill | Industry/enterprise requirements for this qualification include: |
Communication | conducting extensive research to collect and analyse information consulting with stakeholders and leading in the organisation on risk management policies and procedures producing high level reports questioning, clarifying and evaluating information negotiating solutions with clients and colleagues |
Teamwork | monitoring and leading staff to implement policies and procedures supervising work practices and adapting to change supporting staff and external clients to implement risk management and compliance systems |
Problem solving | analysing and synthesising complex information and determining levels of risk collecting, analysing, comparing and contrasting data comparing risk exposure levels with industry and statutory obligations performing complex cost benefit analyses, budgeting, assessing and managing significant risk developing and implementing strategies to address non-compliance solving problems in respect to risk and knowledge management systems testing strategic assumptions and applying different risk treatment strategies |
Initiative and enterprise | identifying and investigating risk as it relates to new and existing business designing and introducing improvements to work design and organisation reviewing processes to improve organisational performance |
Planning and organising | researching and validating complex information monitoring policy against KPIs researching, developing, implementing, monitoring and reviewing policies and procedures and risk strategies at the organisational level |
Self-management | acting as a role model for others applying time management strategies to own work schedule planning own work schedule and monitoring and evaluating own work performance presenting a positive organisational image taking responsibility as required by work role and ensuring all organisational policies and procedures are followed working ethically and complying with all industry codes of practice and legislative requirements |
Learning | ensuring evidence of training undertaken to maintain competency is maintained evaluating and reviewing risk assessment strategies managing internal training to ensure staff have the knowledge and skills to implement quality and compliance systems maintaining personal competency and identifying professional development opportunities |
Technology | operating computers and using knowledge and information management systems using business technology to access, organise and monitor information using research data devices and telecommunication devices and equipment effectively |