Required skills

welldeveloped communication skills to

determine and confirm organisation risk management requirements using questioning and active listening as required

liaise with others share information listen and understand

use language and concepts appropriate to cultural differences

welldeveloped research and analysis for accessing interpreting and managing complex information

highly developed risk assessment and management skills

welldeveloped literacy skills for

analysingrisk mitigation information to ensure appropriateness to the organisation

drafting risk mitigation reports

problem solving skills to identify any issues that have the potential to impact on risk mitigation strategies and to develop options to resolve these issues when they arise

planning and organisational skills

Required knowledge

Australian Standard Risk Management

financial markets products and services

methods of comparing suitability of risk treatment options for particular applications

relevant financial services legislative and industry code or practice requirements

risk analysis techniques and tools

the range of possible financial risk treatment options

types and characteristics of financial markets risk

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria required skills and knowledge range statement and the Assessment Guidelines for the Training Package

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the ability to

effectively apply risk management principles and practices

analyse risks and determine appropriate mitigation strategies

develop sound recommendations on risk mitigation

Context of and specific resources for assessment

Assessment must ensure

competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment

access to and the use of a range of common office equipment technology software and consumables

access to financial services organisational data

access to Australian Standard Risk Management

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge The following examples in combination are appropriate for this unit

evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency

verbal or written questioning on underpinning knowledge and skills

setting and reviewing scenarios

evaluating samples of work

accessing and validating third party reports

Guidance information for assessment

Financial markets risks may include:

Existing measuresand relevant risk measurement techniques and tools may include:

Risk mitigation options are specific tools including:

Treatments are specific solutions within risk mitigation options and may include:

Costs and benefits may include: