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:

determine and manage risk exposure strategies for at least two different types of financial products.

In the course of the above, the candidate must:

establish processes to communicate and manage implementation

establish processes to monitor, review and assess the effectiveness of the risk exposure strategy

consult and communicate with appropriate 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

the key features of actuarial and financial principles and processes related to risk exposure strategies

industry hazards and risk exposures

methods of risk assessment, prevention, and application

key features of establishing risk acceptance criteria for low and high hazard risk areas, including meeting market conditions, and accepted levels of exposure within organisations

key organisational products and services, and associated risks and liability loss exposures

different forms that strategy process implementation may take in an organisation

internal and external operational risks

operational capital management

types of inherent risks

key features of industry sector legislation, organisational and regulatory guidelines, and compliance requirements required to produce the performance evidence

organisational policy, procedures, guidelines and authorities related to risk management.

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

Assessment task 1: [title]      Due date:

(add new lines for each of the 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.

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 and evaluate criteria for acceptance or rejection of risks using standards for risk management as indicated by regulators
Determine organisational performance targets and capacity to assess and accept risk
Investigate and review the data and information
Evaluate risk acceptability factors within context of organisation’s mitigating capabilities and organisational requirements
Critically analyse risk considerations in the business strategic planning process in line with appetite
Establish terms and conditions of risk acceptance criteria to satisfactorily cover organisational needs and risks
Document risk acceptance strategies, criteria and guidelines that meet requirements within delegated authorities
Obtain and review feedback on risk acceptance strategies, criteria and guidelines
Finalise risk acceptance criteria, and associated authority limitations, conditions and guidelines
Develop fit for purpose capital models that meet regulatory requirements and organisational policies and procedures
Review risk profile and calculate potential operational risk exposure
Monitor internal and external losses and re-assess inherent risk and capital requirements
Undertake internal and external reporting to market and regulatory bodies
Identify and develop procedures and guidelines that staff should follow to adhere to risk acceptance strategy
Communicate risk assessment strategies, criteria, procedures and guidelines to relevant staff and intermediaries
Monitor risk acceptance strategy implementation
Determine effectiveness of risk acceptance strategies in meeting risk management objectives
Document and communicate results to relevant staff

Assessment Cover Sheet

FNSRSK612 - Determine and manage risk exposure strategies

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

FNSRSK612 - Determine and manage risk exposure strategies

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: