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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: 

Explain the application of management principles in the risk management function 
SAQA US ID UNIT STANDARD TITLE
14975  Explain the application of management principles in the risk management function 
ORIGINATOR
SGB Financial Services 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 4  NQF Level 04 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Registered" 
2003-10-08  2006-10-08  SAQA 0150/03 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2007-10-08   2010-10-08  

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 unit standard is replaced by: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
242657  Apply general management principles to the risk management function  Level 4  NQF Level 04  Complete 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for learners who manage Asset Risk in insurance and other organisations. It will be useful for Risk Management generalists, managers of small businesses, Insurance Surveyors and Loss Adjusters.

The qualifying learner is capable of:
  • Explaining the role and functions of a Risk Manager.
  • Analysing the structures of an organisation and the associates hazards and risks.
  • Evaluating existing Risk Control measures in an organisation.
  • Proposing alternate measures to control risk in an organisation. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    There is open access to this Unit Standard. Learners should be competent in Communication and Mathematical and Financial Literacy at Level 3. 

    UNIT STANDARD RANGE 
    The typical scope of this Unit Standard is
  • Risk control includes avoiding, eliminating, reducing and transferring the risk.
  • Policies include, but are not limited to processes, practices and procedures.
  • A business unit is a small business, cost center, section or division.
  • Internal and external risk environments include skills, knowledge, experience, inadequate resources, facilities, infrastructure, financial controls and intellectual capital, general legislation, legislation specific to an industry and contractual liability. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Explain the role and functions of a risk manager. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The Risk Manager's role in identifying and managing risk is explained with reference to responsibility and accountability in consulting and advising. 

    ASSESSMENT CRITERION 2 
    2. The roles of Manager and Risk Manager are compared in terms of leading and protecting, upside and downside opportunities for growth, and short term and long term interests. 

    ASSESSMENT CRITERION 3 
    3. The communication role of a Risk Manager is explained in terms of creating a culture of commitment and compliance. 

    ASSESSMENT CRITERION 4 
    4. The role of a Risk Manager in giving advice on strategic decisions is explained in terms of avoiding unnecessary risk. 

    SPECIFIC OUTCOME 2 
    Analyse the structure of an organisation and the associated hazards and risks. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The structure of an organisation is analysed in terms of reporting and controlling. 

    ASSESSMENT CRITERION 2 
    2. A business unit is analysed in terms of functions and procedures. 

    ASSESSMENT CRITERION 3 
    3. The hazards in the overall structure of an organisation are identified, quantified and prioritized in terms of the potential impact on the organisation. 

    ASSESSMENT CRITERION 4 
    4. The hazards in a business unit are identified and quantified in terms of the potential impact on the organisation. 

    SPECIFIC OUTCOME 3 
    Evaluate existing risk control measures in an organisation. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. Three existing policies in an organisation are analysed for compliance. 

    ASSESSMENT CRITERION 2 
    2. Three de facto practices in a business unit are checked for compliance against the organisation's stated policy. 

    ASSESSMENT CRITERION 3 
    3. The management controls to ensure the implementation of policies are evaluated for effectiveness. 

    SPECIFIC OUTCOME 4 
    Propose alternate measures to control risk in an organisation. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The concept of control in risk management is explained with reference to avoidance, elimination, reduction and transfer. 

    ASSESSMENT CRITERION 2 
    2. Management shortfalls in an organisation are identified in terms of internal and external risk environments. 

    ASSESSMENT CRITERION 3 
    3. Alternate measures to control risk are proposed for risks identified in the organisation's structure. 

    ASSESSMENT CRITERION 4 
    4. Alternate measures to control risk are proposed for risks identified in a business unit. 

    ASSESSMENT CRITERION 5 
    5. Alternate measures to control risk are proposed for risks identified in the organisation's policies. 

    ASSESSMENT CRITERION 6 
    6. Alternate measures to control risk are proposed for risks identified in the organisation's practices. 

    ASSESSMENT CRITERION 7 
    7. Alternate measures to control risk are proposed for risks identified in the organisation's skill base. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    Training Quality Assurance Body, through summative and formative assessment by a registered assessor.
  • Assessors must be registered as an Assessor with the INSQA or with an ETQA that has a Memorandum of Understanding with the INSQA
  • Moderators must be registered as assessors with INSQA, or with an ETQA that has a Memorandum of Agreement withINSQA.
  • Training providers must be accredited by the relevant ETQA.

    Moderation should include both internal and external moderation where applicable 

  • UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Learners are capable of identifying and solving problems in which responses show that responsible decisions using critical and creative thinking have been made in identifying hazards and proposing alternate measures to control risk. 

    UNIT STANDARD CCFO ORGANISING 
    Learners are capable of collecting, organising and critically evaluating information in analysing the structure of the organisation and evaluating existing control measures. 

    UNIT STANDARD CCFO COMMUNICATING 
    Learners are capable of communicating effectively in proposing control measures and explaining the functions of a risk manager. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    UNIT STANDARD NOTES 
    This unit standard has been replaced by unit standard 242657, which is ' Apply general management principles to the risk management function ', Level 4, 3 Credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  24396   National Certificate: Risk Management  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered" 
    2006-10-08  Was INSETA until Last Date for Achievement 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    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.
     
    NONE 



    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.