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 FNSRSK602A, '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

1. Determine appropriate risk assessment strategies

1.1. Appropriate criteria for acceptance or rejection of risks are identified and evaluated

1.2. Performance targets for the organisation's capacity to assess and accept risk are determined

1.3. Organisation's business risk elements and control risk elements are identified

2. Evaluate risk and compliance factors

2.1. Accurate, reliable and up-to-date information on these elements is identified and collated in a form suitable for analysis with relevant data accessed and comprehensively investigated and reviewed

2.2. Risk elements are evaluated against known exposure factors and compliance with relevant legislation and organisation policy is considered

2.3. Risk acceptability factors are evaluated within the context of organisation's mitigating capabilities

2.4. Risk acceptability factors are evaluated within the context of organisation requirements

3. Establish risk acceptance criteria

3.1. Terms and conditions of risk acceptance criteria for low hazard risk areas are established that meet market conditions and are within organisation accepted levels of exposure

3.2. Terms and conditions of risk acceptance for high hazard risk areas are established that meet market conditions and are within organisation accepted levels of exposure

3.3. Risk acceptance strategies, criteria and guidelines are clearly documented, and meet the requirements of relevant guidelines and are determined within delegated authorities

3.4. Relevant feedback is obtained and reviewed and the risk acceptance criteria, and associated authority limitations, conditions and guidelines finalised

4. Develop risk management strategies

4.1. Risk management for each risk is selected and an implementation plan developed

4.2. Procedures that staff should follow in operationalising strategy are identified and developed

5. Implement risk assessment strategies

5.1. Risk assessment strategies, criteria and guidelines are communicated to relevant staff and intermediaries

5.2. Risk acceptance strategy implementation is monitored

6. Evaluate and review risk assessment strategies

6.1. Risk assessment strategies are evaluated to determine effectiveness in achieving risk management objectives and reviewed as required

6.2. Results are documented and communicated to relevant staff


Qualifications and Skillsets

FNSRSK602A 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