FIN08018 2022 Risk Management Practice

General Details

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
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. Continuous 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

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