Qualification details

FNS50815 - Diploma of Integrated Risk Management (Release 3)

Summary

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes FNS50811 - Diploma of Integrated Risk ManagementUpdated to meet Standards for Training Packages. Packaging rules changed - core units reduced from five to four. Prerequisite units updated. 24/Mar/2015

Release Status:
Current
Releases:
ReleaseRelease date
3 (this release) 13/Feb/2018
(View details for release 2) 22/Apr/2015
(View details for release 1) 25/Mar/2015


Training packages that include this qualification

Units of competency

CodeSort Table listing Units of Competency by the Code columnTitleSort Table listing Units of Competency by the Title columnEssentialSort Table listing Units of Competency by the Essential column
BSBCOM401 - Organise and monitor the operation of compliance management systemOrganise and monitor the operation of compliance management system Elective
BSBCOM402 - Implement processes for the management of a breach in compliance requirementsImplement processes for the management of a breach in compliance requirements Elective
BSBCOM501 - Identify and interpret compliance requirementsIdentify and interpret compliance requirements Elective
BSBCOM503 - Develop processes for the management of breaches in compliance requirementsDevelop processes for the management of breaches in compliance requirements Elective
BSBINM401 - Implement workplace information systemImplement workplace information system Elective
BSBINM501 - Manage an information or knowledge management systemManage an information or knowledge management system Elective
BSBLDR402 - Lead effective workplace relationshipsLead effective workplace relationships Elective
BSBMGT517 - Manage operational planManage operational plan Elective
BSBMGT605 - Provide leadership across the organisationProvide leadership across the organisation Elective
BSBMGT615 - Contribute to organisation developmentContribute to organisation development Elective
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Classifications

SchemeCodeClassification value
ANZSCO Identifier 222112 Finance Broker 
ASCED Qualification/Course Field of Education Identifier 0999 Other Society And Culture 
Qualification/Course Level of Education Identifier 421 Diploma 
Taxonomy - Industry Sector N/A Financial Services 
Taxonomy - Occupation N/A Financial Risk Manager 

Classification history

SchemeCodeClassification valueStart dateEnd date
ANZSCO Identifier 222112 Finance Broker 30/Jul/2015 
ASCED Qualification/Course Field of Education Identifier 0999 Other Society And Culture 30/Jul/2015 
Qualification/Course Level of Education Identifier 421 Diploma 25/Mar/2015 
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Modification History

Release 

Comments 

Release 3

This version released with FNS Financial Services Training Package version 3.0

Release 3 created to update elective units list

Release 2

This version released with FNS Financial Services Training Package version 1.1

Release 2 created to correct typographical error

Release 1

This qualification first released with FNS Financial Services Training Package version 1.0

Qualification Description

This qualification provides cross-industry competencies relating to finance, compliance, corporate governance, strategy and business continuity for specialist financial and related risk management roles in a range of organisations. Individuals in these roles have autonomy in performing technical operations, apply solutions to a range of often complex problems, and research, analyse and evaluate information from a variety of sources. They apply initiative to plan, coordinate and evaluate their own work and provide guidance to others.

Licensing/Regulatory Information

No licensing or certification requirements apply to this qualification at the time of publication. However, some units will specify relevant licensing, legislative and/or regulatory requirements that impact on the unit. Refer to the FNS Implementation Guide Companion Volume for guidance on requirements.

Entry Requirements

Nil.

Packaging Rules

Total number of units = 12 

4 core units  plus

8 elective  units

The elective units consist of:

  • 5 from the electives below.

Of the remaining 3 units:

  • up to 3 may be from the electives
  • up to 3 may be from a Certificate IV or Diploma in any currently endorsed Training Package or accredited course.

The elective units chosen must be relevant to the work outcome and meet local industry needs.

Core Units  

BSBRSK501 Manage risk

FNSORG502 Develop and monitor policy and procedures

FNSRSK501 Undertake risk identification

FNSRSK502 Assess risks

Elective Units 

Managing financial risk 

BSBMGT517 Manage operational plan

FNSACC511 Provide financial and business performance information

FNSACC609* Evaluate financial risk

FNSINC401 Apply principles of professional practice to work in the financial services industry

FNSORG505 Prepare financial reports to meet statutory requirements

FNSORG602 Develop and manage financial systems

Corporate governance 

FNSACC606 Conduct internal audit

FNSACC624 Monitor corporate governance activities

FNSFMK505 Comply with financial services legislation and industry codes of practice

FNSPRM601 Establish, supervise and monitor practice systems to conform with legislation and regulations

Managing compliance 

BSBCOM401 Organise and monitor the operation of compliance management system

BSBCOM402 Implement processes for the management of a breach in compliance requirements

BSBCOM501 Identify and interpret compliance requirements

BSBCOM503 Develop processes for the management of breaches in compliance requirements

BSBINM401 Implement workplace information system

BSBINM501 Manage an information or knowledge management system

BSBLDR402 Lead effective workplace relationships

BSBPMG411 Apply project quality-management techniques

BSBPMG415 Apply project risk-management techniques

BSBRSK401 Identify risk and apply risk management processes

BSBSMB401 Establish legal and risk management requirements of small business

BSBWHS404 Contribute to WHS hazard identification, risk assessment and risk control

BSBWHS507 Contribute to managing WHS information systems

BSBWHS503 Contribute to the systematic management of WHS risk

BSBWHS504 Manage WHS risks

BSBWHS508 Manage WHS hazards associated with plant

BSBWHS603 Implement WHS risk management

BSBWHS604 Evaluate the WHS performance of organisations

BSBWHS605 Develop, implement and maintain WHS management systems

BSBWHS606 Conduct a WHS audit

BSBWHS607 Apply ergonomics to manage WHS risks

BSBWHS608 Assist with applying occupational hygiene to manage WHS risks

BSBWHS609 Advise on the application of safe design principles to control WHS risks

FNSACC516 Implement and maintain internal control procedures

FNSINC503 Identify situations requiring complex ethical decision making

FNSINC504 Apply ethical frameworks and principles to make and act upon decisions

FNSORG508 Analyse and comment on management reports

FNSORG603 Establish and prepare operational guidelines in a financial services organisation

Strategic risk management and business continuity 

BSBSUS501 Develop workplace policy and procedures for sustainability

BSBMGT605 Provide leadership across the organisation

BSBMGT615 Contribute to organisation development

BSBMGT616 Develop and implement strategic plans

BSBMGT617 Develop and implement a business plan

BSBPMG517 Manage project risk

BSBWHS510 Contribute to implementing emergency procedures

FNSORG601 Negotiate to achieve goals and manage disputes

*Note the following prerequisite unit requirements:

Unit in this qualification

Prerequisite unit

FNSACC609 Evaluate financial risk

FNSACC511 Provide financial and business performance information

Qualification Mapping Information

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNS50815 Diploma of Integrated Risk Management (Release 3)

FNS50815 Diploma of Integrated Risk Management (Release 2)

Upates to elective units list

Equivalent qualification

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.education.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe