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

Describe the operational consequences of incidents and losses on an entity 
SAQA US ID UNIT STANDARD TITLE
14998  Describe the operational consequences of incidents and losses on an entity 
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
242672  Demonstrate knowledge and understanding of the consequences of operational incidents and losses on an entity  Level 4  NQF Level 04  Complete 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for learners who manage risk in insurance and other organisations. It will be useful for risk management generalists, loss adjusters and learners in short term insurance.

The qualifying learner is capable of:
  • Describing the kinds of operational losses or incidents that could impact on an entity.
  • Quantifying the potential severity and frequency of identified risks in an operation that could result in losses and claims.
  • Explaining the contingencies related to rehabilitation of identified risks in an entity.
  • Conducting a post loss analysis. 

  • 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 NQF Level 3. 

    UNIT STANDARD RANGE 
    The typical scope of this Unit Standard is:
  • Losses in relation to business process include, but are not limited to, finance, people and assets.
  • Losses in relation to markets include, but are not limited to, suppliers, customers and conveyance.
  • Losses in relation to production include, but are not limited to tangible and intangible production.
  • Intangible production includes, but is not limited to production in schools, financial institutions and service industries.
  • Business risks include, but are not limited to business processes, markets and production, loss of customers, loss of reputation, competition, lead time and penalties. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Describe the kinds of operational losses or incidents that could impact on an entity. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. Potential losses in relation to death or injury are identified from a risk analysis. 

    ASSESSMENT CRITERION 2 
    2. Potential losses in relation to business processes are identified from a risk analysis. 

    ASSESSMENT CRITERION 3 
    3. Potential losses in relation to markets are identified from a risk analysis. 

    ASSESSMENT CRITERION 4 
    4. Potential losses in relation to production are identified from a risk analysis. 

    ASSESSMENT CRITERION 5 
    5. The potential losses are presented in a matrix. 

    SPECIFIC OUTCOME 2 
    Quantify the potential severity and frequency of risks that could result in losses and claims. 
    OUTCOME NOTES 
    Quantify the potential severity and frequency of identified risks on an operation that could result in losses and claims. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. Financial risks in a specific entity are quantified in terms of potential severity and frequency and are added to the matrix. 

    ASSESSMENT CRITERION 2 
    2. Risks in civil and criminal liability in a specific entity are quantified in terms of potential severity and frequency and are added to the matrix. 

    ASSESSMENT CRITERION 3 
    3. The business risks in a specific entity are quantified in terms of potential severity and frequency and are added to the matrix. 

    ASSESSMENT CRITERION 4 
    4. The human risks in a specific entity are quantified in terms of potential severity and frequency and are added to the matrix. 

    SPECIFIC OUTCOME 3 
    Explain the contingencies related to rehabilitation of identified risks in an entity. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. Contingency plans to rehabilitate the people involved in incidents and losses in a specific organisation are developed with reference to counseling, medical care, emergency services and key man risks. 

    ASSESSMENT CRITERION 2 
    2. A contingency plan to reinstate business processes in a specific organisation is developed with reference to replacement of assets, lead times, alternative production methods and market retention. 

    ASSESSMENT CRITERION 3 
    3. An outline plan is developed to deal with contingencies in a specific organisation. 

    SPECIFIC OUTCOME 4 
    Conduct a post loss analysis. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. Two case studies based on what if scenarios are analysed to identify the impact of described losses and incidents on an entity. 

    ASSESSMENT CRITERION 2 
    2. Possible reasons for the incidents or lasses are suggested based on the available information. 

    ASSESSMENT CRITERION 3 
    3. The information is used to develop an outline af a plan to avoid similar occurrences in future. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    Accreditation for this Unit Standard shall be obtained from the relevant Education and 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 with INSQA.
  • 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 developing plans to deal with contingencies in an entity. 

    UNIT STANDARD CCFO COLLECTING 
    Learners are capable of collecting, organising and critically evaluating information in analysing the impact of incidences and losses on an entity. 

    UNIT STANDARD CCFO COMMUNICATING 
    Learners are able communicate clearly in identifying potential losses and incidents, presenting information in matrices and tables, quantifying severity and frequency of potential risks and proposing plans for rehabilitation. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Learners are able to see the world as a set of related systems in identifying potential losses from a risk analysis. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    UNIT STANDARD NOTES 
    This unit standard has been replaced by unit standard 242672, which is "Demonstrate knowledge and understanding of the consequences of operational incidents and losses on an entity", Level 4, 4 credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  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.