FIN08018 2022 Risk Management Practice
Full Title
Risk Management Practice
Transcript Title
Risk Management Practice
Code
FIN08018
Attendance
N/A %
Subject Area
FIN - Finance
Department
BUS - Business
Level
08 - NFQ Level 8
Credit
05 - 05 Credits
Duration
Semester
Fee
€
Start Term
2022 - Full Academic Year 2022-23
End Term
9999 - The End of Time
Author(s)
Kerry Dolan, Clodagh Caslin
Programme Membership
SG_BBUSI_H08 202200 Bachelor of Business (Honours) in Business
SG_BFINV_K08 202200 Bachelor of Business (Honours) in Business with Finance and Investment (Add-on)
SG_BFINA_H08 202200 Bachelor of Business (Honours) in Finance and Investment
SG_BBUSB_H08 202200 Bachelor of Business (Honours) in Business
SG_BBUSI_H08 202200 Bachelor of Business (Honours) in Business
Description
The purpose of this module is to develop students knowledge of the tools and techniques of managing risk in the modern business environment - to include financial and non-financial corporations. In this module students will develop their knowledge of the risk management function as well as the principal risk management instruments and strategies. Students will learn how to identify key risks that exist and emerging risks across industries and create appropriate risk management strategies.
Learning Outcomes
On completion of this module the learner will/should be able to;
1.
Explain how risk treatment fits into the ‘risk management cycle’
2.
Evaluate the strategies that can be employed to manage threats and opportunities, and the means by which risk control mechanisms may be prioritised
3.
Learn to identify risk across industries and create appropriate preparatory and coping strategies
4.
Compare and contrast available forms of risk financing
5.
Explain the nature, framework and workings of the insurance,reinsurance and captive industry.
Teaching and Learning Strategies
The student will engage with the content of the module through lectures, case studies, problem based learning and the use of interactive multi media tools.
Module Assessment Strategies
The continuous assessment will consist of one of the following:
- Group project
- Written assessment
- Essay
- Report
- Presentation
Repeat Assessments
Repeat final exam only.
Indicative Syllabus
Introduction to risk treatment and the risk management cycle
Evaluating and selecting risk control mechanisms How risks evolve (upside risk, catastrophe level risks, untreatable risks), the options for risk treatment - the four ‘T’s, matching risk exposures to risk treatment.
Identifying, allocating and resourcing risk controls. Types of controls, decision making on appropriate controls, planning and justifying risk controls
Identify new threats and opportunities on the global horizon and prepare for those beyond the horizon.
Reinsurance - principles and functions of reinsurance. Technical analysis of major product types such as quota share, surplus etc
Captives -principles and functions of captive insurance companies. Types of captives and choice of domicile.
Coursework & Assessment Breakdown
Coursework & Continuous Assessment
30 %
End of Semester / Year Formal Exam
70 %
Coursework Assessment
| Title | Type | Form | Percent | Week | Learning Outcomes Assessed | |
|---|---|---|---|---|---|---|
| 1 | The continuous assessment will consist of one of the following:Group project ,Written assessment, Essay , Report. | Coursework Assessment | Assessment | 30 % | Any | 2,3 |
End of Semester / Year Assessment
| Title | Type | Form | Percent | Week | Learning Outcomes Assessed | |
|---|---|---|---|---|---|---|
| 1 | Final Exam Written Exam | Final Exam | Closed Book Exam | 70 % | End of Term | 1,2,3,4,5 |
Full Time Mode Workload
| Type | Location | Description | Hours | Frequency | Avg Workload |
|---|---|---|---|---|---|
| Independent Learning | Not Specified | Independent | 4 | Weekly | 4.00 |
| Lecture | Tiered Classroom | Lecture | 3 | Weekly | 3.00 |
Total Full Time Average Weekly Learner Contact Time 3.00 Hours
Required & Recommended Book List
Required Reading
2018 Fundamentals of Risk Management
ISBN 0749483075 ISBN-13 9780749483074
2018 Fundamentals of Risk Management
ISBN 0749483075 ISBN-13 9780749483074
Get extensive coverage of the core concepts and frameworks of risk management with this ideal companion for emerging professionals.
Module Resources
Non ISBN Literary Resources
Journal Resources
URL Resources
http://www.coso.org/guidance.htm
Global Risks Report 2022 | World Economic Forum (weforum.org)
https://www.theirm.org/
Other Resources
None
Additional Information
None