| Advanced Diploma of Integrated Risk Management |
The Institute's Advanced Diploma of Integrated Risk Management meets the requirements of the following FNS04 qualification: FNS50104 Diploma of Financial Services or Advanced Diploma of Financial Services. This means that the modules in the course include coverage of the competency standards required for issuance of this national qualification.
A summary of the employability skills developed through this qualification can be downloaded from http://employabilityskills.training.com.au/.
Upon completion of the following modules, students should obtain the following learning outcomes and national competencies:
- RM601 Corporate Governance and Compliance
- RM602 Risk Treatment and Financing Practices
- RM603 Risk Management Framework and Documentation
- RM604 Business Continuity Management.
| RM601 Corporate Governance and Compliance |
Examines the general frameworks, principles and guidelines for corporate governance, as well as the roles and responsibilities of stakeholders. This module also examines the reporting and compliance requirements of corporate governance and the role of the risk manager in this process.
Learning Outcomes:
- Introduction to and framework for corporate governance
- General corporate governance frameworks and the roles and responsibilities of stakeholders
- Principles and guidelines for corporate governance, including IFSA corporate governance guide
- Systems, processes, committee structures and procedures for corporate governance
- Internal and external corporate governance reporting requirements
- Compliance requirements and processes, including monitoring and review of compliance performance,
auditing and transparency - The role of risk management in effective corporate governance and compliance.
National Competencies:
- FNSCOMP501B Comply with financial services legislation, industry and professional codes of practice.
- FNSCOMP601B Interpret and manage statutory, contractual, legislative and regulatory obligations for organisational compliance
- FNSCOMP602B Develop and implement compliance systems
- FNSACCT604B Monitor corporate governance activities.
| RM602 Risk Treatment and Financing Practices |
Gives an overview of the processes of risk treatment and risk financing, and the steps in implementing, monitoring and reviewing initiatives.
Learning Outcomes:
- An overview and the process of risk treatment and risk financing
- Risk treatment and risk financing in practice: including identifying and treating and financing options, principles of risk allocation of self–insurance retention
- Implementing risk treatment and risk financing initiatives
- Monitoring and reviewing of risk treatment and financing.
National Competencies:
- FNSFMKT503B Advise clients on financial risks
- FNSACCT609B Evaluate financial risk.
| RM603 Risk Management Framework and Documentation |
Looks at how to plan, implement and monitor risk management frameworks and documentation, as well as the process of establishing a risk management audit committee.
Learning Outcomes:
- Overview of risk management framework, planning and documentation
- Planning a risk management framework
- Implementing a risk management framework
- Monitoring and reviewing: the risk management process; organisational risks and opportunities; treatment plans; critical controls
- Establishing a risk audit committee
- Documentation supporting a risk management framework and program.
| RM604 Business Continuity Management |
Covers the process of planning and implementing a business continuity management strategy. Students will examine the different areas that need to be analysed for the creation of this strategy and learn the skills needed to implement the strategy in a crisis situation.
Learning Outcomes:
- Overview of business continuity management
- Developing a business continuity management strategy to reduce the possibility of operational and organisational failure
- Developing a business continuity management strategy and policy including risk and vulnerability, business impact analysis, response strategies, resource and interdependence; requirements and communication strategies
- Business continuity management in action; crisis management; case studies on managing organisational
crises; crisis management teams; invoking the business continuity plan; moving from crisis to recovery.
National Competencies:
- FNSRISK601B Develop and implement risk mitigation plan
- FNSFMKT503B Advise clients on financial risks
- FNSRISK602B Determine and manage risk exposure strategies
- FNSRISK501B Undertake risk identification
- FNSRISK502B Assess risks.