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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED QUALIFICATION: 

Postgraduate Diploma in Risk Management 
SAQA QUAL ID QUALIFICATION TITLE
103058  Postgraduate Diploma in Risk Management 
ORIGINATOR
Mancosa (PTY) LTD T/A Management College of Southern Africa 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
CHE - Council on Higher Education  HEQSF - Higher Education Qualifications Sub-framework 
QUALIFICATION TYPE FIELD SUBFIELD
Postgraduate Diploma  Field 03 - Business, Commerce and Management Studies  Generic Management 
ABET BAND MINIMUM CREDITS PRE-2009 NQF LEVEL NQF LEVEL QUAL CLASS
Undefined  120  Not Applicable  NQF Level 08  Regular-Provider-ELOAC 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Registered  SAQA 14121/18  2018-07-26  2021-07-26 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2022-07-26   2025-07-26  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This qualification does not replace any other qualification and is not replaced by any other qualification. 

PURPOSE AND RATIONALE OF THE QUALIFICATION 
Purpose:
The Postgraduate Diploma (PGDip) (Risk Management) is directed at those individuals wishing to pursue a qualification with an emphasis on organisational risk management. Learners develop skills and possess the knowledge required to effectively support scenario planning and risk mitigation whilst utilising an approach that is not based on more than a finance or process perspective. By way of classwork the qualification builds skills in risk management by taking a holistic approach and covering the core areas in risk management.

Rationale:
This institution is a distance education institution and its qualifications are available to learners both locally and internationally. Learners are drawn from both South Africa and the Southern African Development Community (SADC) region, where the qualification contributes fruitfully towards developing management skills amongst the states in the region. The qualification is aimed at building advanced skills and knowledge in the field of risk management.

The growing need to understand and mitigate risks found within organisations has given rise to the importance of risk management. Through the implementation of risk management, organisations become more resilient and robust when faced with events or situations that have a direct influence on an organisation. Not every organisation faces the same risk challenges, bringing about the need to develop a "risk culture" which is of significance as organisations strive to remain competitive in an ever changing consumer driven environment.

Risk management has long been associated with project management; however, in recent years it has become an increasingly important aspect of organisations best practices. Organisations have come to the realisation that through the implementation of risk management, negative impacts can be greatly minimised while being cost efficient. In order to manage risk intelligently enough, businesses need to ensure that they have competent and knowledgeable professionals who can provide a holistic approach while supporting operational capabilities.

The Postgraduate Diploma (PGDip) in Risk Management facilitates a streamlined approach needed by organisations to combat the broad negative effects of risks that are unforeseen while strengthening and deepening knowledge in an existing qualification. This allows graduates to be able to anticipate problems, develop risk identification and control programmes aimed at minimising risk resulting in a comprehensive and valid report through developing and analysing a model to implement quantitative risk management methodologies. The PGDip (Risk Management) qualification seeks to address the dearth of qualifications in risk management in South Africa as this qualification seeks to facilitate and build upon existing knowledge for those who are already professionals; entrepreneurs; managers or employers with risk management needs; or learners.

Based on the current National Qualifications Framework (NQF) levels, Postgraduate Diplomas are currently at Level 8, equipping learners with the ability to look at different markets, customers and product lines in a more sophisticated manner. The course work on the qualification facilitates a sound understanding of the key business theories, methodologies and practices. The course work provides a balance of theoretical and practical aspects of risk management.

With the scarcity of Postgraduate Diplomas in Risk Management and the current shortage of expertise and skills in this area, this qualification aims to produce graduates who are in possession of the following attributes:
  • Critical thinking.
  • Fundamental problem solving skills.
  • Communication skills.
  • Ethical and legal conduct.
  • Accountability.
  • Risk modelling. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Recognition of Prior Learning (RPL):
    This qualification may be obtained in whole or in part through the Recognition of Prior Learning. In the cases where prior learning is to be recognised for purposes of access to the qualification:
  • It is assumed that the learning derived from work or life experience will be a major element in the profiles of non-standard entrants primarily by means of a portfolio of evidence. Such 'non-standard' candidates will be selected on the recommendation of a senior manager from applicants' organisations/companies.
  • Where appropriate, interviews will also be conducted to assess applicants for selection purposes. Some of the key criteria that will be used in evaluating 'non-standard' applicants include:
    > The applicant's motivation, maturity and realistic approach to postgraduate studies.
    > Job description, covering relevant area of work, giving examples of tasks carried out, possibly supplying references, linked to a portfolio of evidence.
    > The nature and level of life/work experience and prior study, and the learning which has resulted from such experience.
    > Details of in-company short courses, length, content of material covered, standard achieved.
    > The clarity of the applicant's educational goals and objectives.
    > The extent to which the applicant can provide evidence of the threshold skills and knowledge for the qualification.

    Where prior learning is recognised for advanced standing, credit will be given for prior certificated learning in accordance with established practice at South African higher education institutions.

    Credits may only be accumulated for modules, which are prescribed within the structure of a named award.

    Entry requirements:
    The minimum entry requirements to this qualification is a:
  • Bachelor's Degree, Level 7.
    Or
  • An appropriate Advanced Diploma, Level 7. 

  • RECOGNISE PREVIOUS LEARNING? 

    QUALIFICATION RULES 
    This qualification comprises compulsory modules at Level 8 totalling 120 Credits.
  • Introduction to Risk Management, 15 Credits.
  • Risk Management Framework and Measurement, 15 Credits.
  • Risk Modelling, 15 Credits.
  • Corporate Governance, Ethics and Risk, 15 Credits.
  • Strategic Management, 15 Credits.
  • Auditing for Risk, 15 Credits.
  • Corporate Risk Management, 15 Credits.
  • Project Communication and Risk Management, 15 Credits. 

  • EXIT LEVEL OUTCOMES 
    1. Understand the evolution and importance of establishing a risk management culture.
    2. Display an understanding of the risk management framework and risk specific modelling as a means of assessing risk so as to promote and grow the organization.
    3. Employ integrated knowledge to solve complex risk management problems in an organisation and pose viable solutions.
    4. Identify and mitigate risk relating to an individual project or organisation as a whole.
    5. Understand the role of management and leadership in organisational success.
    6. Demonstrate an understanding of varying risks within the different corporate levels of an organization.
    7. Engage in self-directed learning.
    8. Possess the ability to identify and manage the various types of fraud that is prevalent within an organisational context.
    9. Demonstrate an appreciation and understanding of ethics, compliance and accountability.
    10. Apply the concepts of risk mapping and risk modelling to process information for decision making. 

    ASSOCIATED ASSESSMENT CRITERIA 
    Integrated assessment centres on the:
  • Grasp the concepts of each module.
  • Apply the management theory to a practical context.
  • Use the methods of research and understand its relation to theory.
  • Understand the balance between theory and practice and its relevance to the level of the qualification.
  • Develop strategic and leadership capabilities.
  • Use appropriate technology to ensure effective communication of ideas.
  • Develop critical thinking and problem solving skills.

    Integrated Assessment:
    Assessment methods include:
  • Interpretative and analytical problem solving in the written examination.
  • Research and work based assignments.
  • Classwork.
  • Self-assessments activities in the programme material.

    Formative Assessment:
    The scheme of work includes assignments based on the learning material and learners are given feedback. The process is continuous and focuses on smaller sections of the work and limited number of outcomes.

    Summative Assessment:
    Summative assessments include examinations or equivalent assessment such as a research essay or portfolio in order to determine a representative selection of the outcomes practised and assessed in the formative stage. Summative assessment also tests the learner's ability to manage and integrate a large body of knowledge to achieve the stated outcomes of a module.

    All assessment will attempt to integrate knowledge, skills and attitudes and applied competence. 

  • INTERNATIONAL COMPARABILITY 
    The specific outcomes, prescribed reading, level descriptors and associated criteria were compared with that of the Certificate qualifications offered at several international universities. Desktop research was comprehensively undertaken in the following institutions in the following areas:
    Country: Hong Kong.

    Institution: Institute of Professional Education and Knowledge (PEAK).

    Name of Qualification: Postgraduate Diploma in Insurance in Risk Management.

    Purpose of Qualification:
    This Postgraduate Diploma in Insurance in Risk Management provides students with a holistic training in both risk management and insurance to upgrade their skills and equip them with strategic-level of risk management and insurance knowledge, the latter being generally considered as the most practical and effective risk management solution.

    Learning Outcomes:
    The students will be able to:
  • assess and manage risk portfolios for risk prevention and management improvement in organisations.
  • develop corporate-level strategies and review risk management frameworks in compliance with regulatory requirements and ethical standards.
  • propose rules and regulations for governing risk management and for managing insurance and financial products and services in response to the market demand.
  • apply a board range of professional knowledge in risk management and insurance, and skills in leadership, communication and research to manage risk management functions within insurance and financial organisations; and
  • reflect on current professional practice to identify plans for further professional development.

    Content

    Students must take 8 modules including three compulsory modules:
  • Enterprise Risk Management.
  • Law and Practice of Insurance.
  • Managing Insurance Organisations and Self-insurance.

    Remaining modules to be selected from the elective modules listed below:

    Insurance Stream:
  • Property Insurance Management.
  • Liability Insurance Management.
  • Marine Insurance Management.
  • Life and Medical Insurance Management.
  • Reinsurance Management.

    Risk Management Stream:
  • Operational Risk Management.
  • Financial Risk Management.
  • Financial Planning ManagementCorporate Governance and Compliance.


    Similarities/Differences:

    Similarities:
    This programmes is similar to MANCOSA's Postgraduate Diploma in Risk Management with respect to the following aspects:
  • Both have two similar modules Corporate Governance, Ethics and Risk and Corporate Risk Management for MANCOSA and Corporate Governance and Compliance and Enterprise Risk Management for PEAK.

    Differences:
    This programmes is different to MANCOSA's Postgraduate Diploma in Risk Management with respect to the following aspects:
  • Specialisations: the MANCOSA postgraduate diploma specialises in financial risk management whilst the PEAK diploma specialises with both financial risk and insurance risk.
  • Exit levels: the MANCOSA diploma is level 8 whilst the PEAK diploma is level 6.
  • Names: MANCOSA qualification is called Postgraduate Diploma in Risk Management and the PEAK qualification is called Postgraduate Diploma in Insurance in Risk Management.

    Country: England and Wales.

    Institution: Institute of Risk Management.

    Name of Qualification: International Diploma in Risk Management.

    Purpose of Qualification:
    The postgraduate level qualification purpose is to provide knowledge and skills to manage risk and maximise opportunities in any organisation.

    Learning Outcomes:

    The students will be able to:
  • develop ability to design and implement risk management strategies;
  • select and apply the tools and techniques required to assess and treat risks;
  • critique the relationship between risk management, governance, internal control and compliance and
  • make informed risk management decisions for current and emerging risks, and to critically appraise real life case studies from different sectors and countries.

    Content:
  • Principles of risk and risk management.
  • Practice of risk management.
  • Risk assessment.
  • Risk treatment.
  • Risk governance and culture.
  • Crises, resilience and future risks.

    Similarities/Differences:
    Similarities:
    This programmes is similar to MANCOSA's Postgraduate Diploma in Risk Management with respect to the following aspects:
  • Exit level: The MANCOSA diploma and the International Diploma in Risk Management is at postgraduate level.
  • Similar modules: Corporate Governance, Ethics and Risk for MANCOSA's programme and Risk governance and culture for International Diploma in Risk Management.

    Differences:
    This programmes is different to MANCOSA's Postgraduate Diploma in Risk Management with respect to the following aspects:
  • Number of modules: MANCOSA qualification has 8 modules whilst the International Diploma in Risk Management programme has 6 modules.
  • Entry requirements: The MANCOSA diploma has a minimum admission entry of a Bachelor's degree or an Advanced Diploma whilst the IRM programme does not have formal entry requirements.
  • Assessments: MANCOSA diploma includes assignments and examinations whist the International Diploma in Risk Management programme only does its assessments through examinations only.

    Country: United Kingdom.

    Institution: Glasgow Caledonian University.

    Name of Qualification: Master of Science in Risk Management.

    Purpose of Qualification:

    Organisations are facing a growing number of global and strategic challenges, and the need for responsible leadership, good governance and ethical behaviour continues to rise, therefore the programme's purpose is to meet the demand for highly qualified risk management professionals.

    Learning outcomes:
    The students will be able to:
  • the ability to engage critically with contemporary theoretical concepts, strategies, policies and practices of risk management;
  • apply the knowledge, approaches and methods to address operational and strategic risk management challenges in an international context;
  • apply theoretical and practical understanding of real world issues, from an international perspective, identifying responsible decision making and ethically driven behaviours and
  • a critically understand research techniques and methodologies and apply these to an independent research project relating to an appropriate topic; personal and transferable skills related to independent research, problem solving, critical thinking, group working, ICT, employability skills and inter-personal communication.

    Content:
  • Contemporary issues in insurance.
  • Financial securities analysis.
  • Risk and organisational resilience.
  • Global perspectives on risk.
  • Risk analysis and modelling.
  • Business continuity and crisis management.
  • Ethics, governance and responsible leadership.
  • Applied professional practice.
  • Masters research project.

    Similarities/Differences:

    Similarities:

    This programme is similar to MANCOSA's Postgraduate Diploma in Risk Management with respect to the following aspects:
  • Number of Modules: Both have 8 modules.
  • Entry requirements: UK Honours degree or equivalent whilst the MANCOSA programme entry requirements is a Bachelor's degree or Advanced Diploma.

    Differences:
    This programmes is different to MANCOSA's Postgraduate Diploma in Risk Management with respect to the following aspects:
  • Name: MANCOSA programme is a Diploma and Glasgow Caledonian University qualification is a Masters programme.
  • Research: The MANCOSA qualification does not have a research project whilst the Glasgow Caledonian University qualification has a research project.
  • Assessments: MANCOSA programme uses assignments and examinations whilst the Glasgow Caledonian University programme uses coursework assessments and seminar participation, through individual as well as group work.
  • Collaboration: MANCOSA qualification has no collaboration whilst the Glasgow Caledonian University qualification is in collaboration with the Chartered Insurance Institute (CII) and the Institute of Risk Management (IRM). 

  • ARTICULATION OPTIONS 
    This qualification allows for vertical and horizontal articulation options:

    Horizontal Articulation:
  • Postgraduate Diplomas, Level 8.

    Vertical Articulation:
  • A Master of Business Administration (MBA) qualification, Level 9. 

  • MODERATION OPTIONS 
    N/A 

    CRITERIA FOR THE REGISTRATION OF ASSESSORS 
    N/A 

    LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION: 
     
    NONE 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS QUALIFICATION: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. Mancosa (PTY) LTD T/A Management College of Southern Africa 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.