This course aims to develop expertise in several aspects of Enterprise Risk Management including a thorough understanding of:
• The concept of ERM
• The drivers behind ERM - governance, regulation, improvements in understanding of risk and techniques for measuring and managing risk, enterprise value protection and creation, etc.
• Practical aspects of ERM, including all elements of a robust risk management framework (people, systems, processes) and its operation, and critical success factors
• Standards and good practice in use around the world
• The different types of risk - financial (including liquidity, credit, equity market, interest rate), insurance (including catastrophe, mortality, product options), operational, and strategic
• The quantification of risk, including tools and techniques and supporting mathematics with particularly strong skills in the financial aspects of risk management.
Learning Outcomes
Upon successful completion, students will have the knowledge and skills to:
- Demonstrate an understanding of risk management frameworks for financial organisations in different regulatory environments.
- Demonstrate an understanding of the relevance of ERM to stakeholders.
- Describe and show an understanding of different risk categories.
- Recommend methods to manage an organisation’s risk, including risk optimisation, and management of market risk, credit risk, operational and other risks.
- Demonstrate an understanding of economic capital and capital allocation.
Other Information
This subject, in conjunction with ACST4061/ACST8061 provides the opportunity for exemption from Module 1 of the Part III academic requirements of the Actuaries Institute. Such exemption depends on the grades attained over both subjects.
Indicative Assessment
- Typical assessment may include, but is not restricted to: exams, assignments, quizzes, presentations and other assessment as appropriate. (100) [LO 1,2,3,4,5]
The ANU uses Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. While the use of Turnitin is not mandatory, the ANU highly recommends Turnitin is used by both teaching staff and students. For additional information regarding Turnitin please visit the ANU Online website.
Workload
Students are expected to commit 130 hours of work in completing this course. This includes time spent in scheduled classes and self-directed study time
Inherent Requirements
Not applicable
Requisite and Incompatibility
Prescribed Texts
Information about the prescribed textbook will be available via the Class Summary
Fees
Tuition fees are for the academic year indicated at the top of the page.
Commonwealth Support (CSP) Students
If you have been offered a Commonwealth supported place, your fees are set by the Australian Government for each course. At ANU 1 EFTSL is 48 units (normally 8 x 6-unit courses). More information about your student contribution amount for each course at Fees.
- Student Contribution Band:
- 34
- Unit value:
- 6 units
If you are a domestic graduate coursework student with a Domestic Tuition Fee (DTF) place or international student you will be required to pay course tuition fees (see below). Course tuition fees are indexed annually. Further information for domestic and international students about tuition and other fees can be found at Fees.
Where there is a unit range displayed for this course, not all unit options below may be available.
| Units | EFTSL |
|---|---|
| 6.00 | 0.12500 |
Course fees
- Domestic fee paying students
| Year | Fee |
|---|---|
| 2021 | $3360 |
- International fee paying students
| Year | Fee |
|---|---|
| 2021 | $5580 |
Offerings, Dates and Class Summary Links
ANU utilises MyTimetable to enable students to view the timetable for their enrolled courses, browse, then self-allocate to small teaching activities / tutorials so they can better plan their time. Find out more on the Timetable webpage.