Of late the world has seen the failure of forecasting financial risk properly, anomalies and the impact of that. One of the key features of the recent corruption and failings in institutes such as banks, businesses and financial institutions. particularly in the West, has been a lack of planning, monitoring, poor management, not recognising threats and a lack of procedures set up to minimise the failings. It has caused a loss of opportunities and huge investments such as of pension funds being lost and delivered poor services. It has not only affected, but devastated the economies of many countries such as Iceland, but has had global impact. What is clear is that lessons have not always been learned and we see mistakes being repeated on a daily basis. This risk management course examines changes in risk management practice against the context of the changes in UK, EU, US and global economy, to meet legislature and will be of particular interest to those needing to practice risk management skills on a day-to-day basis. Many of the skills covered will be similar or overlap with qualities needed for a competent and professional manager or leader. It provides detailed learning on a range of relevant risk management topics, combining theoretical background with the practical tools, risk management techniques and risk communication formats.
*** Mandatory Text Book:
Students are expected to purchase and use the book COMPLIANCE AND CHANGE MANAGEMENT: WHAT YOU DON'T LEARN AT HARVARD by Abe Abrahami, directly from: www.amazon.co.uk or from: www.amazon.com - this can be done at the foot of this webpage.
Module One - What is Risk Management?
Murphy states that ‘what can, will go wrong!’ Risk can be minimised by being prepared for every problem and issue, or what to do if something does go wrong or not as expected. This module will introduce the types and background to modern concepts of risk management (RM) skills, and how these can change and develop within a business management context. It examines the way RM evolves, how to assess and set guidelines or processes to mitigate difficulties, and the risk manager's role in this process. The module concludes a range of guidelines and framework (often called re-engineering risk) how to implement new skills and behaviours in order to reduce practical risk issues, by looking at effective RM e.g. using SWOT analysis or SMART objectives.
Module Two - The individual as a Risk Manager
The best way to learn is by using an actual example, Cortal-plc Corp to examine the role and focuses on some essential core skills for a risk manager, with tips and techniques for successful risk management. Risk goal-setting, risk problem-solving, effective risk resolution meetings, risk interviewing, working with others e.g. through training and giving or receiving risk related feedback are addressed. Relevant IT tools, systems and application are explored, including risk landscape analysis. The role of a risk manager to set procedures, be clear and open, try not to under-risk and lead or involve others to manage risk is explored.
Module Three - Risk Structure and Environment, RiskSE
The key issues and components covered to assess RiskSE are vision, strategy, design, plan, implementation, analysis and lessons learned post-project. This module includes an assessment of different features and types of risk organisation structure and the various environments within which risk organisations operate. This module assesses recent trends, available support such as IT packages or activities one can use and the move towards the use of risk integration. Strategies and direction at how to transform and analyse risk initiatives, and the effects to anticipate a risk organisation future evolution is discussed. The various roles and tasks involved such as for e.g. Risk Architecture, Risk Planner, Analyst or Manager are explored.
Module Four - Managing Risk Processes
A company that had tried to introduce a Risk Total Quality and improved processes to improve quality and value-for-money, but failed for 2-3 years is used as a real case study sample. The company’s internal features of a risk organisation, including planning and strategy, risk costs and budgets and the benefits of understanding the risk processes is considered. A consultant was recruited to assess and implement required change within a six-month period. They developed a customised Risk product development life cycle. The findings, plans, reviewing these with staff, amending, implementation design, testing, monitoring and outcomes will be explored. Practical advice is provided on facilitation of workshops, in the context of risk process improvement.
Module Five - Managing Risk Projects
If a project overruns and costs escalate those in management will be blamed. Companies have a legal duty to disclose such failings early and quickly. The module asks 'What is a risk project', providing a step-by-step breakdown of the key phases for managing risk projects successfully. It provides advice on financing risk projects, and on quality risk assessment. The module provides guidance on risk project team roles and effective brainstorming for problem-solving. Presently in the UK, Tesco, a large supermarket change has misled shareholders and the public about their profit forecasts, and failure to do this is illegal and fails certain regulatory obligations. Planning and estimating costs and risks, and how to evaluate will be assessed.
Module Six - Managing Risk Diversity, MRiskD.
Diversity in terms of risk is discussed because no matter the type of diversity, it has to be managed professional with attention to detail so that the performance is measured in terms of Risk/Change strategy. Companies need to embrace the increasingly diverse UK, EU, US and global risk mandates and the business case for managing by diversity-unification principles and this is discussed. Key risk issues and legislation issues will be examined, including common challenges and potential conflicts in real business examples, and diverse risk themes of international regulatory styles will be explored, e.g. a company specialising in Wireless and Broadband is able to offer training East European countries under-going cultural, Risk management and technological change using its unique MRiskD methodology.
Module Seven - Risk and Change
There are a vast number of laws and regulations concerning Corporate Risk, non-compliance and some of these are addressed with regard to Governance in the management of change since those in power will determine what will be managed. Risk and change may be regarded as a 'chicken and egg principle' – which comes first? Often organisations are challenged to change in order not to be penalised, but it can also be a reason to e.g. improve performance, restructure and change the organisational culture, and how this can be done is investigated. Accordingly a review of risk-caused/affecting organisational changes, managing the risk-change process and dealing with individual resistance and cultural issues is included. The use of coaching, mentoring and facilitation development is explored in a context of companies never quite managing to meet every legislative and internal change required, so change in small sections or as distinct projects is advocated. The role of every individual in an organisation is discussed in terms of strategic goals and business objectives.
Module Eight - Quality and Risk
If you cannot size it, you cannot measure it, and if you cannot measure it, you cannot improve it – this is a quality and risk axiom. Every business hopes to deliver quality in terms of the service and products it offers. Risk control as a measure for quality performance will be discussed. The use of risk goals, related risk performance indicators, service level agreements and benchmarking will be considered, along with a review of quality-risk management improvement. Countless frameworks, standards, techniques and concepts e.g. a quality management computer system for improving product or service quality and some examples will be investigated in the contexts of companies and business environment.
Module Nine - Audit and Risk
It is impossible to guess how a business, product, process or a person is performing and the only way to assess this is using evaluation through an audit using pre-determined criteria. If you cannot audit it, you cannot measure it, and if you cannot measure it, you cannot improve it – this is an audit and risk axiom. Historically audits were conducted to assess and guarantee and gather financial information about a business, but today audits are a general measure of objects with information on e.g. IT- and environment systems and risk programme implementation. The use of audit objectives, related risk-audit performance indicators, service level agreements and benchmarking are considered, along with a review of audit-risk management improvement. Auditors are generally conducted by independent people who must adhere to standards set by governing professional bodies that regulate business. This helps to provide assurance for a third party that the audit reports present ‘fairly’ a company’s financial condition and results of operating performance. Internal auditors are also employed for larger companies and they evaluate performance, manage output, and mitigate risks on a daily basis.
Module Ten - Ethics and Risk
The rise of corporate and banks scandals continue to headline our news due to fraud, dishonesty, oversight and corruption. With this the number of compliance measures for Risk and Misconduct reduction, rules and regulations grow, are developed and enforced, yet they fail to deter and totally stop the scandals. This module examines recent trends in business ethics which arose out of historic values to encourage people not to ‘do bad business, steal and rob their neighbours’, corporate governance and wisdom, environmental issues and social responsibility. Practical advice is provided with tips and guidance on making ethics and risk presentations so that every employee is aware of business risk and ethics. Finally, the course review is done to reflect on the learning and also to help think about career goals and next steps.
All students must be 16 years of age and above.
Level 3 Diploma courses require a minimum prior learning to GCSE standard in order that students can manage their studies and the assumed knowledge within course content.
Approximately 20 hours per unit
Final online multiple choice examination.
Please note that you can enrol on this course at anytime.
Diploma in Risk Management
This course is Quality Assured by the Quality Licence Scheme
At the end of this course successful learners will receive a Certificate of Achievement from ABC Awards and a Learner Unit Summary (which lists the details of all the units the learner has completed as part of the course). Please note that this ABC certificate is only available to students enrolling on or after 01.04.15.
The course has been endorsed under the ABC Awards Quality Licence Scheme. This means that Oxford Learning College has undergone an external quality check to ensure that the organisation and the courses it offers, meet certain quality criteria. The completion of this course alone does not lead to an Ofqual regulated qualification but may be used as evidence of knowledge and skills towards regulated qualifications in the future.
The unit summary can be used as evidence towards Recognition of Prior Learning if you wish to progress your studies in this sector. To this end the learning outcomes of the course have been benchmarked at Level 3 against level descriptors published by Ofqual, to indicate the depth of study and level of demand/complexity involved in successful completion by the learner.
The course itself has been designed by Oxford Learning College to meet specific learners' and/or employers' requirements which cannot be satisfied through current regulated qualifications. ABC Awards endorsement involves robust and rigorous quality audits by external auditors to ensure quality is continually met. A review of courses is carried out as part of the endorsement process.
ABC Awards is a leading national Awarding Organisation, regulated by Ofqual, and the Welsh Government. It has a long-established reputation for developing and awarding high quality vocational qualifications across a wide range of industries. As a registered charity, ABC Awards combines 180 years of expertise but also implements a responsive, flexible and innovative approach to the needs of our customers. Renowned for excellent customer service, and quality standards, ABC Awards also offers Ofqual regulated qualifications for all ages and abilities post-14; all are developed with the support of relevant stakeholders to ensure that they meet the needs and standards of
employers across the UK.
For more information on how to progress after completing this course, please click here
You will receive a certificate from the College. A digital version is included in the price and will be emailed to you within 5 days of taking your online exam.
Should you require an embossed hard copy of your certificate to be sent to you by Special Delivery post, you can order this separately after taking your exam.
The course can be enrolled upon by students Internationally. There are no deadlines for enrolments.
To view the differences between our qualifications, please click HERE
Online study materials to enable the student to successfully complete the Diploma. Support is provided by the tutor department for the duration of the course (1 year). Certification upon completion. All examination fees.
Payment by Instalments
Students are able to pay course fees in monthly instalments. Click here to download our instalment plan.
The Quality Assured Diploma is a Level 3 equivalent on the National Qualifications Framework. The Diploma is a 1 year course which is self study and is examined by online examination. The Diploma is awarded by Oxford College. Upon completion of the course you will receive certification awarded by Oxford College.
The Level 3 Diplomas require a minimum prior learning to GCSE standard in order to for students to manage study and the assumed knowledge within course content.
They provide an ability to gain and apply a range of knowledge, skills and understanding in a specific subject at a detailed level. Level 3 qualifications such as A levels, NVQ3, BTEC Diplomas etc. are appropriate if you plan to progress to university study.
Level 3 Diploma courses can assist you in career development, continued professional development, personal development, and provision of a basis for further study.
Progression from Level 3 is to specialist learning and detailed analysis of a higher level of information (for example university level study, Diploma Level 5 study).
Your course is delivered online via the Oxford Learning On Campus website.
This is a flexible learning course, so the more time you have to commit to your studies, the sooner you are able to complete.
In the student 'On Campus' you are also able to take part in the student chat room and forums as part of our online student community.
After enrolling online you will receive your username and password to access the On Campus area within 3 working days.
Materials and support provided by Oxford Learning.
A Paper copy and Kindle copy of course materials are also available to purchase in the online enrolment process.
For more information please visit our FAQ page.
This product was added to our catalog on Thursday 13 August, 2009.