FIN219 Operational Risk Management

Operational risk management is still evolving and developing however, with globalisation, deregulation and advances in technology, operational risk now commands significant attention. This subject provides an overview of the operational risk management process and demonstrates how operational risk management should be embedded within the day-to-day operations of an organisation.

This subject contributes to the corporate finance and financial risk management majors.

For more information, please refer to the subject outline.

  • Learning outcomes
    • At the completion of this subject students should be able to:

      1. Explain the regulatory framework for operational risk in Australia and internationally.
      2. Analyse operational risk using qualitative assessment methodologies commonly used in Australia.
      3. Analyse the different modelling methods used to measure operational risk.
      4. Assess the various ways to manage or mitigate operational risk.
      5. Analyse operational risk in a financial institution.
      6. Analyse real-case operational risk issues.
      7. Examine best practice approaches for establishing an effective operational risk management framework in Australian financial institutions.
  • Subject content
    • Topic Title
      Topic 1 Introduction to operational risk management
      Topic 2 Operational risk and regulation
      Topic 3 Identifying and assessing operational risk
      Topic 4 Measuring operational risk
      Topic 5 Mitigating operational risk
      Topic 6 Monitoring and reporting operational risk
      Topic 7 Major operational events – lessons learnt
      Topic 8 Establishing an effective operational risk management framework

  • Duration
    • 12 weeks.

  • Assessment
  • Prerequisites
    • There are no prerequisites for this subject. However please review the Assumed Knowledge tab to understand the prior knowledge Kaplan advises you should hold before enrolling in this subject.

  • Assumed knowledge
    • Whilst there are no prerequisites for this subject, Kaplan assumes that individuals have completed FIN204 Fundamentals of Risk, or understand the content covered in this subject, prior to undertaking FIN219 Operational Risk Management.

  • Course transition subject equivalence
    • Individuals are not required to complete this subject if they have transitioned from a SIA/Finsia/Kaplan course and have completed the following subjects within the course completion timeframe:

      • Not applicable
  • Reading list
    • There are no prescribed texts for this subject.

      Details of any required and further readings for this subject are provided in the subject room.  Purchase of any text other than a prescribed text is not required.