Unit of competency Outline

Date retreived
22/07/2026 11:09 PM AWST

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Implement risk management strategies

Implement risk management strategies

Unit of competency
National Code
FNSRSK401
State Code
AUS87
TGA Status
Replaced
DTWD Status
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
35
Description
This unit describes the skills and knowledge required to interpret an organisation's financial risk management strategies in terms of own work, and effectively use risk mitigation and elimination techniques and tools.It applies to individuals who use specialised knowledge, follow organisational policy and strategies, and use discretion within limits of own job role to manage risk.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Identify application of risk management strategies to job role
  • 1.1 Research legislative and regulatory requirements and appropriate risk management standards relating to risk management, and relate to own job role
  • 1.2 Access and accurately interpret organisational policy and procedures for risk management
  • 1.3 Clarify and confirm risk management role with relevant stakeholders as required
2. Apply risk management strategies
  • 2.1 Determine appropriate organisational strategies and tools for controlling risks in own job role
  • 2.2 Identify and apply control measures for cross-organisation risks
  • 2.3 Choose and implement control measures for own area of operation and responsibilities
3. Identify and propose changes to improve risk management strategies
  • 3.1 Maintain currency of understanding and application of risk management strategies
  • 3.2 Audit and review risk strategy implementation to improve treatment of risks
  • 3.3 Recommend improvements in risk management, relevant to own job role, to management
  • 3.4 Model best practice risk management in own performance
No information
No information
Replaces
State Code National Code Title Type
D4310 FNSRSK401A Implement risk management strategies Unit of competency
Replaced By
State Code National Code Title Type
OBR68 FNSRSK411 Apply risk management strategies to own work Unit of competency
State Code National Code Title Type
AWC3 FNS40115 Certificate IV in Credit Management Qualification
AVY4 FNS41815 Certificate IV in Financial Services Qualification