Unit of competency Outline

Date retreived
23/07/2026 12:20 AM AWST

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Conduct work within financial markets organisational risk management framework

Conduct work within financial markets organisational risk management framework

Unit of competency
National Code
FNSFMK524
State Code
OBR54
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
01/07/2020
View on TGA
State Implementation and Classification
Approved Date
02/10/2020
Field of Education
081101 - Banking And Finance
Original Release Date
02/10/2020
Nominal Hours
55
Description
This unit describes the skills and knowledge required to examine the likelihood of risks in financial markets and their consequences and assess the organisation’s exposure to those risks.It applies to individuals who use specialised knowledge within a financial markets’ context, and who use systematic approaches to problem solving and make recommendations within organisational processes and procedures.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Research financial markets organisational risk management framework
  • 1.1 Research the main risks for financial markets
  • 1.2 Analyse the impact of regulatory and technological changes on the financial markets risk landscape
  • 1.3 Research risk mitigation strategies and controls used for managing key financial markets risks
  • 1.4 Identify the key risks outlined in the risk management framework of the organisation
2. Identify and assess individual risk management responsibilities
  • 2.1 Identify individual role in relation to the three lines of defence
  • 2.2 Identify key risks for the organisation relevant to own job role
  • 2.3 Analyse the link between own Key Performance Indicators (KPIs) and the risk framework of the organisation
3. Review individual work practices
  • 3.1 Critically analyse work tasks and processes to identify potential risks
  • 3.2 Analyse controls used to detect and prevent risks associated with own job role
4. Respond to risk events
  • 4.1 Assess anomalies in data or processes
  • 4.2 Escalate anomalies in data or processes according to organisational policies and procedures
  • 4.3 Record relevant information in relation to risk event, including any required actions
5. Identify and monitor ongoing requirements of risk management
  • 5.1 Monitor organisational risks within responsibility of own job role
  • 5.2 Identify and research ongoing issues relating to financial markets organisational risk management frameworks
  • 5.3 Monitor and respond to changes to risk management framework requirements and organisational procedures
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