Study-Unit Description

Study-Unit Description


CODE BKF2050

 
TITLE Foundations of Risk Management

 
UM LEVEL 02 - Years 2, 3 in Modular Undergraduate Course

 
MQF LEVEL 5

 
ECTS CREDITS 4

 
DEPARTMENT Banking, Finance and Investments

 
DESCRIPTION The intention of this study-unit is to raise the profile of the international standard for (Enterprise) Risk Management in the future, as well as reflecting current risk management thinking, the syllabus provides an up to date comprehensive and balanced approach of risk management relevant to contemporary business thinking and practices.

Study-Unit Aims:

- Introduce the theory and practice of risk management;
- Introduce the concept of ‘enterprise risk management’;
- Introduce the nature of risk and the aims of risk;
- Introduce typical approaches to risk management policy and responsibilities, including the importance of culture and communication;
- Introduce techniques for identification, evaluation and analysis of risks;
- Introduce good governance and the link with business objectives;
- Introduce methods for risk treatment, transfer, tolerance and termination;
- Introduce audit, risk assurance and social responsibility;
- Provide an overview of current risk management thinking, regulations and practices and how they impact modern organisations across the world;
- Offer a comprehensive and balanced approach to risk management.

Learning Outcomes:

1. Knowledge & Understanding:

By the end of the study-unit the student will be able to:

1. Explain the concepts of risk Likelihood and risk Impact;
2. Name the various techniques used to do a risk assessment;
3. Explain the concepts of risk identification, risk measurement, risk management;
4. List and explain how risk architecture is organised and the role of governance in managing risks;
5. Describe risk appetite;
6. Identify the main tools used to manage risks.

2. Skills:

By the end of the study-unit the student will be able to:

1. Estimate the risks that a typical firm is exposed to;
2. Identify the risks that a typical firm is exposed to;
3. Compare risk reporting techniques;
4. Evaluate risk management strategies;
5. Distinguish the role of internal audit in risk management;
6. Assess the business continuity plans of a firm.

Main Text/s and any supplementary readings:

Study-unit Textbook:

- Fundamentals of Risk Management: Understanding, Evaluating and Implementing Effective Risk Management [Paperback] Paul Hopkin.

All students are expected to acquire the textbook since all lectures will be based on this book.

 
STUDY-UNIT TYPE Lecture and Tutorial

 
METHOD OF ASSESSMENT
Assessment Component/s Assessment Due Sept. Asst Session Weighting
Assignment SEM2 Yes 20%
Examination (2 Hours) SEM2 Yes 80%

 
LECTURER/S Miguel Borg

 

 
The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints.
Units not attracting a sufficient number of registrations may be withdrawn without notice.
It should be noted that all the information in the description above applies to study-units available during the academic year 2024/5. It may be subject to change in subsequent years.

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