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Subject overview

This subject has been discontinued; it will not be available for enrolment after Study Period 5, 2023.

This subject focuses on the application of risk management within organisations. It examines the various tools, techniques and processes for managing financial risks, including ‘market risk and credit risk’, and operational risk. The common types of market risk evaluated in this subject include interest rates risk, spot risk, forward risk, options risk, and liquidity risk. It also examines the range of credit products and derivatives used in managing credit exposures as well as the issues that arise in assessing, managing and monitoring operational risk.

Students perform calculations and review real-world as well as fictitious case studies based on mock institutions to apply their learning in this subject.

For more information, please refer to the subject outline.

Subject information

Learning Outcomes

On successful completion of this subject, individuals should be able to:

  • Analyse the risks and the need for risk management by an organisation.
  • Critically assess the tools, techniques and processes that can be used in managing the various market risks to which an organisation may be exposed.
  • Critically analyse the tools, techniques and processes for managing liquidity risk within an organisation.
  • Evaluate financial products and derivatives to hedge credit exposures.
  • Adapt risk management frameworks to manage a financial institution’s operational risk.


Subject Content

Topic Title
Topic 1Introduction to applied risk management
Topic 2Managing interest rate risk
Topic 3Managing spot risk
Topic 4Managing forward risk
Topic 5Managing options risk
Topic 6Managing liquidity risk
Topic 7Credit products and their risks
Topic 8Credit derivatives and their role in credit risk management
Topic 9Credit risk portfolio management
Topic 10Managing operational risk


Reading list

There is no prescribed text for this subject.

Individuals are provided with key readings and access to Kaplan Professional’s online databases. Individuals are encouraged to research and read widely on the topic.

Reading list


Assessment TypeAssessedWeighting
Online quizzes Weeks 4, 6, 8, 11 20%
Assignment 1 Weeks 7 40%
Assignment 2Weeks 1240%

Previous study requirements


The duration of this subject is one study period (12 weeks).


There are no prerequisites for this subject. However, individuals should review the ‘Assumed Knowledge’ tab to understand the prior knowledge Kaplan Professional advises they should hold before enrolling in this subject.

Assumed knowledge

Whilst there are no prerequisites for this subject, Kaplan Professional assumes that individuals have completed FIN254 Risk Management Frameworks, prior to undertaking FIN304 Applied Risk Management.

Course transition subject equivalence

Individuals may not be required to complete this subject if they have transitioned from a SIA/Finsia/Kaplan Professional course and have completed the following subjects:

  • there are no equivalences for this subject.

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