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Diploma students must take all five core subjects.
Level one covers the key concepts, models, codes, tools and techniques used in enterprise-wide risk management and provides students with universally applicable risk management knowledge and skills.
Core modules are taken in a prescribed order; each one builds on previous learning.
Each module is assessed by a three hour exam
Principles of risk
Module one
Overview:
- An introduction to terms, concepts, principles and governing ideas essential to an understanding of risk and its management
- An overview of standards, requirements and legal expectations for formal risk management processes in organisations
- An appreciation of risk characteristics and influences necessary to implement effective risk management
- A broad and introductory examination of risk management as a managerial function in modern organisations.
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Risk and organisations
Module two
This module will:
- Expand students’ understanding of the technical characteristics of risks and how those features can
- influence the ultimate risk management response to those risks
- Provide students with the concepts and principles of organisational risk and introduce students to basic methods for organising a comprehensive view of organisation-wide risks
- Illustrate how organisations consider and set their risk appetite
- Enable students to converse intelligibly with various specialists on aspects of key organisational risks (finance and audit, operations, legal, supply chain)
- Help students understand the risk management perspectives that exist at different levels within an organisation (strategic, operational, tactical) and the implications that arise for effective risk communication
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Risk Decisions
Module three
This module will:
- Provide a comprehensive understanding of the issues, methods and challenges in risk data analysis, to help students become competent consumers of risk information
- Examine the conceptual and managerial challenges in gathering and effectively communicating and using risk data to be able to lead teams and work with technical specialists on risk data gathering
- Examine the various methods for analysing both qualitative and quantitative data in order to make consistent managerial decisions
- Provide a critical understanding of how risk information and knowledge is created and used to support tactical risk decision making
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Risk Leadership
Module four
This module will:
- Provide students with a firm understanding of strategic planning, goal setting, and the actions necessary to lead organisational risk management initiatives
- Provide students with a clear, practical view of the relationship between risk management, governance, ethics and organisational strategy development
- Familiarise students with the wide array of requirements, legal standards, best practices and external expectations that are shaping the way organisations look at risk management today
- Enable students to understand the specific linkage of risk management with corporate social responsibility and ethical expectations and requirements
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Risk Solutions
Module five
This module will:
- Familiarise students with a comprehensive range of risk management tools, techniques, systems and processes for managing organisational risk including specifically risk financing, physical risk control, business continuity planning and project risk management.
- Help students understand the underlying management process and actions necessary to make risk management work effectively in organisations, including standards of performance and best practices
- Enable students to design and implement a risk management programme suited to the specific needs of individual organisations
- Support the development of critical thinking/problem solving skills necessary to the implementation and ongoing maintenance of risk management programmes
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