Determine and manage risk exposure strategies

Formats and tools

Unit Description
Reconstruct the unit from the xml and display it as an HTML page.
Assessment Tool
an assessor resource that builds a framework for writing an assessment tool
Assessment Template
generate a spreadsheet for marking this unit in a classroom environment. Put student names in the top row and check them off as they demonstrate competenece for each of the unit's elements and performance criteria.
Assessment Matrix
a slightly different format than the assessment template. A spreadsheet with unit names, elements and performance criteria in separate columns. Put assessment names in column headings to track which performance criteria each one covers. Good for ensuring that you've covered every one of the performance criteria with your assessment instrument (all assessement tools together).
Wiki Markup
mark up the unit in a wiki markup codes, ready to copy and paste into a wiki page. The output will work in most wikis but is designed to work particularly well as a Wikiversity learning project.
Evidence Guide
create an evidence guide for workplace assessment and RPL applicants
Competency Mapping Template
Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners. A template for developing assessments for a unit, which will help you to create valid, fair and reliable assessments for the unit, ready to give to trainers and students
Observation Checklist
create an observation checklist for workplace assessment and RPL applicants. This is similar to the evidence guide above, but a little shorter and friendlier on your printer. You will also need to create a seperate Assessor Marking Guide for guidelines on gathering evidence and a list of key points for each activity observed using the unit's range statement, required skills and evidence required (see the unit's html page for details)

Self Assessment Survey
A form for students to assess thier current skill levels against each of the unit's performance criteria. Cut and paste into a web document or print and distribute in hard copy.
Moodle Outcomes
Create a csv file of the unit's performance criteria to import into a moodle course as outcomes, ready to associate with each of your assignments. Here's a quick 'how to' for importing these into moodle 2.x
Registered Training Organisations
Trying to find someone to train or assess you? This link lists all the RTOs that are currently registered to deliver FNSRSK602, 'Determine and manage risk exposure strategies'.
Google Links
links to google searches, with filtering in place to maximise the usefulness of the returned results
Books
Reference books for 'Determine and manage risk exposure strategies' on fishpond.com.au. This online store has a huge range of books, pretty reasonable prices, free delivery in Australia *and* they give a small commission to ntisthis.com for every purchase, so go nuts :)


Elements and Performance Criteria

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Determine appropriate risk assessment strategies

1.1 Identify and evaluate appropriate criteria for acceptance or rejection of risks using Australian risk management standards

1.2 Determine performance targets for organisation’s capacity to assess and accept risk

1.3 Identify organisation’s business risk elements and control risk elements

2. Evaluate risk and compliance factors

2.1 Identify and collate accurate, reliable and up-to-date information on these elements in form suitable for analysis, and comprehensively investigate and review data accessed

2.2 Evaluate risk elements against known exposure factors and consider compliance with relevant legislation, regulatory guidelines, industry sector compliance requirements and organisational policy

2.3 Evaluate risk acceptability factors within context of organisation’s mitigating capabilities

2.4 Evaluate risk acceptability factors within context of organisational requirements

3. Establish risk acceptance criteria

3.1 Establish terms and conditions of risk acceptance criteria for low hazard risk areas that meet market conditions and are within organisation’s accepted levels of exposure

3.2 Establish terms and conditions of risk acceptance for high hazard risk areas that meet market conditions and are within organisation’s accepted levels of exposure

3.3 Clearly document risk acceptance strategies, criteria and guidelines to meet requirements of relevant guidelines determined within delegated authorities

3.4 Obtain and review relevant feedback and finalise risk acceptance criteria, and associated authority limitations, conditions and guidelines

4. Develop risk management strategies

4.1 Select risk management for each risk and develop implementation plan

4.2 Identify and develop procedures that staff should follow in operationalising strategy

5. Implement risk assessment strategies

5.1 Communicate risk assessment strategies, criteria and guidelines to relevant staff and intermediaries

5.2 Monitor risk acceptance strategy implementation

6. Evaluate and review risk assessment strategies

6.1 Evaluate risk assessment strategies to determine effectiveness in achieving risk management objectives, and review as required

6.2 Document and communicate results to relevant staff


Qualifications and Skillsets

FNSRSK602 appears in the following qualifications:

  • FNS51710 - Diploma of Applied Anti-Money Laundering and Counter Terrorism Financing Management
  • FNS60210 - Advanced Diploma of Accounting
  • FNS60710 - Advanced Diploma of Financial Licensing Management
  • FNS60810 - Advanced Diploma of Financial Risk Management
  • FNS50810 - Diploma of Financial Risk Management
  • FNS50310 - Diploma of Finance and Mortgage Broking Management
  • FNS50910 - Diploma of Banking Services Management
  • FNS60711 - Advanced Diploma of Financial Licensing Management
  • FNS50311 - Diploma of Finance and Mortgage Broking Management
  • FNS60811 - Advanced Diploma of Integrated Risk Management
  • FNS60215 - Advanced Diploma of Accounting
  • FNS50915 - Diploma of Banking Services Management
  • FNS50315 - Diploma of Finance and Mortgage Broking Management
  • FNS60115 - Advanced Diploma of Insurance Broking
  • FNS51715 - Diploma of Applied Anti-Money Laundering and Counter Terrorism Financing Management
  • FNS60715 - Advanced Diploma of Financial Licensing Management
  • FNS60815 - Advanced Diploma of Integrated Risk Management