Unit of competency Outline

Date retreived
24/07/2026 6:13 AM AWST

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Analyse risk mitigation in the operations process

Analyse risk mitigation in the operations process

Unit of competency
National Code
FNSFMK507
State Code
AUR20
TGA Status
Replaced
DTWD Status
Transition (Replaced)
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
16/09/2015
Field of Education
080399 - Business And Management, N.e.c.
Original Release Date
16/09/2015
Nominal Hours
55
Description
This unit describes the skills and knowledge required to analyse financial market operations risks and determine appropriate mitigation and treatment methods.It applies to individuals with highly specialised knowledge who use analytical skills and systematic approaches to make judgements and provide organisational advice relating to risk.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Notes
Elements and Performance Criteria
1. Analyse financial market operation risk profiles
  • 1.1 Determine types and characteristics of financial market risks relevant to organisation’s operations process
  • 1.2 Analyse operations processes to detect risk
  • 1.3 Assess organisation’s operations processes for exposure to identified financial market risks using existing measures and relevant risk measurement techniques and tools
  • 1.4 Rank identified risks against likelihood and organisational impact
2. Identify risk mitigation strategy
  • 2.1 Consider risk mitigation options and treatments for each risk mitigation identified in operations process
  • 2.2 Select appropriate treatment options, and financial and non-financial costs and benefits arising from treatment options
  • 2.3 Review treatment priorities and adequacy of existing controls, and establish need for additional or alternative controls
3. Develop risk mitigation recommendations
  • 3.1 Identify and establish personnel and resources necessary to carry out actions
  • 3.2 Develop viable recommendations to management for each stage of treating organisational risks
  • 3.3 Determine key indicators of progress and success
  • 3.4 Develop monitoring system for effectiveness of risk treatments
No information
No information
Replaces
State Code National Code Title Type
D4129 FNSFMK507A Analyse risk mitigation in the operations process Unit of competency
Replaced By
State Code National Code Title Type
OBR83 FNSFMK517 Analyse risk mitigation in the operations process Unit of competency
State Code National Code Title Type
AWC2 FNS51015 Diploma of Financial Markets Qualification