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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED QUALIFICATION THAT HAS PASSED THE END DATE: 

Further Education and Training Certificate: Short-Term Risk Management 
SAQA QUAL ID QUALIFICATION TITLE
57613  Further Education and Training Certificate: Short-Term Risk Management 
ORIGINATOR
SGB Insurance and Investment 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
INSETA - Insurance Sector Education and Training Authority  OQSF - Occupational Qualifications Sub-framework 
QUALIFICATION TYPE FIELD SUBFIELD
Further Ed and Training Cert  Field 03 - Business, Commerce and Management Studies  Finance, Economics and Accounting 
ABET BAND MINIMUM CREDITS PRE-2009 NQF LEVEL NQF LEVEL QUAL CLASS
Undefined  160  Level 4  NQF Level 04  Regular-Unit Stds Based 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Passed the End Date -
Status was "Reregistered" 
SAQA 0160/05  2009-11-03  2012-06-30 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2013-06-30   2016-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This qualification replaces: 
Qual ID Qualification Title Pre-2009 NQF Level NQF Level Min Credits Replacement Status
24396  National Certificate: Risk Management  Level 4  NQF Level 04  140  Complete 

PURPOSE AND RATIONALE OF THE QUALIFICATION 
Purpose:

The FETC: Short-Term Risk Management complements the FETC: Short Term Insurance. It is a generic Qualification in Risk Management that builds the introductory knowledge and skills required by learners involved in the management or transfer of operational risk, with specialisation in a selected aspect of risk. It is designed to meet the needs of learners in a variety of positions including Short Term Business Insurance.

The FETC: Short-Term Risk Management should develop individuals who are aware of ways of identifying, reducing, controlling or transferring risk. It is intended to empower learners to acquire knowledge, skills, attitudes and values required to operate ethically and responsibly in the highly regulated Financial Services environment. It should add value to the qualifying learner in terms of enrichment of the person, status, licensing and recognition.

The Qualification is structured in such a way that it exposes learners to generic competencies required in the management and transfer of pure risk and allows for specialisation to meet the needs of different work roles. The electives make provision for different streams of specialisation including, Short Term Business Insurance, Operational Risk Management and the management of risk in medical schemes. It provides a balanced learning experience and an opportunity for learners to apply academic skills in relation to the workplace.

Rationale:

This qualification replaces the National Certificate: Risk Management, which expires in October 2006. It has been expanded to include the needs of learners in a variety of positions in the Financial Services Sector.

Risk management is a strategic tool and has an operational function. The FETC: Short-Term Risk Management is intended for learners who give advice on the management of risk in short term insurance and medical schemes. The Qualification should serve as an introduction to learners involved in the management of operational and downside risk in a business environment and is not concerned with enterprise wide risk management, investment or financial risk. The main focus is on the prevention and funding of loss through short term insurance. The work roles are in, commercial/business lines and specialised areas of business such as aviation, transportation (marine), agricultural insurance and disease and case management in medical schemes.

The FETC: Short-Term Risk Management is intended for:
  • Intermediaries in business insurance who need a level 4 qualification for licensing in Short-Term Insurance under the Financial Advisory and Intermediary Services Act (FAIS).
  • Learners in Short Term Business/Commercial Insurance or Risk Management who offer advice on the transfer of risk.
  • Learners with nursing qualifications who work in medical schemes and who need to be able to apply knowledge of pure risk to the management of medical scheme risk.
  • Learners in trade credit insurance.
  • Loss Adjustors for admission to the Institute of Loss Adjustors.
  • Learners embarking on a career path in the management of risk.

    The Qualification will be useful for learners with an operational risk management function such as Managers of Small Businesses and Operational Risk Control Managers, as well as Loss Adjustors, Surveyors, Risk Management Advisers, Claims Assessors, Service Agents, Underwriters, Underwriting Agents, Risk Finance Product Developers, Short Term Business Insurance Administrators, Risk Trainers, Short Term Insurance Intermediaries, Risk Assessors, Internal Broker Consultants, Call Centre Operators, Commercial Lines Administrators, Claims, Negotiators, Technicians or Assessors, Client Service Providers, Service Agents, Product Developers, Motor Assessors, Reinsurers, Service Centre Staff, IT Systems Designers and Analysts in Short Term organisations or learners who work in Marketing Departments of Short Term Insurers, Inspectors who inspect risks and exposure and advise on what is needed for the risk to be acceptable or to minimise the risk. It will also be useful for Disease Managers and Case Managers in Medical Schemes and is an entry level Qualification for risk in terms of insurance organisations and Loss Adjusters.

    Note that:
  • Learners who work in the retail industry and sell insurance as part of their work, but are not in a career path in the insurance industry should do the FETC: Retail Insurance.
  • Learners in personal lines and business/commercial lines insurance who advise on selected insurance products, but do not give advice on the management of risk in commercial/business lines, should do the FETC: Short Term Insurance.

    The learning pathway for learners in Insurance and Investment:
  • NQF Level 8:
    > Post graduate qualifications offered at Higher Education Institutions.
  • NQF Level 7:
    > Degrees, Higher Certificates and Diplomas offered at Higher Education Institutions.
  • NQF Level 6:
    > Unit Standards developed as Fundamentals for L6 Insurance and Investment Qualifications.
    > Industry Qualifications as these are developed.
  • NQF Level 5:
    > National Certificate: Wealth Management.
    > National Certificate: Long-Term Risk Assessment.
    > National Diploma: Long-Term Risk Assessment.
    > National Certificate: Short Term Insurance.
  • NQF Level 4:
    > FETC: Wealth Management.
    > FETC: Long-Term Insurance.
    > FETC: Long-Term Risk Assessment.
    > FETC: Short Term Insurance.
    > FETC: Risk Management.
    > FETC: Retail Insurance.
    > FETC: Medical Claims Assessing.
    > National Certificate: Wealth Management: Level 4.
    > National Certificate: Long-Term Insurance: Level 4.
    > National Certificate: Long-Term Risk Assessment: Level 4.
    > National Certificate: Healthcare Benefits Administration: Medical Claims Assessing: Level 4.
    > National Certificate: Short Term Insurance: Level 4.
    > National Certificate: Risk Management: Level 4.
    > National Certificate: Collective Investments: Level 4.
    > National Certificate: Financial Services Management: Level 4.
  • NQF Level 3: Generic Industry Qualifications:
    > National Certificate: Financial Services: Level 3 (2004), which has replaced: National Certificate: Insurance (2001) and National Certificate: Collective Investments: Level 4 for administrators in Collective Investment Scheme Managers.
    > National Certificate: Financial Services Management: Level 3
  • NQF Level 2: Generic Industry Qualifications:
    > National Certificate: Financial Services (2004), which has replaced: National Certificate: Insurance Administration (2000). 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in Communication and Mathematical Literacy at NQF Level 3.

    Recognition of prior learning:
  • Provision has been made for prior learning to be recognised if a learner is able to demonstrate competence in the knowledge, skills, values and attitudes implicit in this Qualification. Application for Recognition of Prior Learning (RPL) should be made to a relevant accredited ETQA.
  • Credit towards a Unit Standard is subject to quality assurance by a relevant accredited ETQA and is conducted by a workplace assessor.
  • This Qualification can be obtained in part or in whole through Recognition of Prior Learning.
  • RPL will be done using a range of assessment tools and techniques that have been jointly decided upon by the learner and the assessor.
  • The same principles that apply to assessment of the Qualification and its associated Unit Standards apply to RPL.

    Access to the qualification:

    There is open access to this Qualification bearing in mind the Learning Assumed to be in Place. 

  • RECOGNISE PREVIOUS LEARNING? 

    QUALIFICATION RULES 
    The Qualification consists of a Fundamental, a Core and an Elective Component.

    To be awarded the Qualification, learners are required to obtain a minimum of 160 credits as detailed below.

    Fundamental Component:

    The Fundamental Component consists of Unit Standards in:
  • Mathematical Literacy at NQF Level 4 to the value of 16 credits.
  • Communication at NQF Level 4 in a First South African Language to the value of 20 credits.
  • Communication in a Second South African Language at NQF Level 3 to the value of 20 credits.
  • Financial Literacy at NQF Level 4 to the value of 12 credits.

    It is compulsory therefore for learners to do Communication in two different South African languages, one at NQF Level 4 and the other at NQF Level 3.

    For the purpose of this Qualification twelve credits are also required for Financial Literacy at Level 4. Although this is not a SAQA requirement, it is consistent with the philosophy that has been used in all Insurance and Investment Qualifications, as the Financial Services industry believes that if learners are to function in a field that manages people's money, they should be able to manage their own finances.

    All Unit Standards in the Fundamental Component are compulsory.

    Core Component:
  • The Core Component consists of Unit Standards to the value of 45 credits all of which are compulsory.

    Elective Component:

    In the Elective Component there are Unit Standards that deal specifically with legislation applicable to different work roles. Learners who need to have detailed knowledge of specific Acts should include these Unit Standards as electives. In addition application of knowledge of legislation has been included in the Unit Standards wherever it is relevant so that knowledge about legislation is integrated rather than taught in isolation.

    The Elective Component consists of Unit Standards in a number of specializations each with its own set of Unit Standards. Learners are to choose a specialization area and Elective Unit Standards to the value of at least 47 credits.

    If the specialization contains fewer credits than the minimum, learners are to choose additional Elective Standards from the other specializations to give a minimum of 47 credits.
  • The FETC: Risk Management allows specialization for:

    > Loss Adjusting.
    > Short Term Insurance Risk and Management of Operational Risk.
    > Management of Medical Risk.
    > Short Term Intermediaries.
  • Loss adjusting (total 23 credits):

    Note that Loss Adjustors require the following credits for admission to the Institute of Loss Adjustors:
    > 24 credits selected from the set of electives appropriate to the learners work role.
    > 23 credits from the specialization for Loss Adjustors.
  • This means that Loss Adjusters must complete all the Unit Standards listed below for Loss Adjusters to the value of 23 credits. Loss Adjusters must select additional Elective Unit Standards, appropriate to their work from other specializations totaling a minimum of 24 credits:

    > ID 119894: "Demonstrate techniques for gathering and presenting fieldwork data", NQF Level 3, 3 Credits.
    > ID 120124: "Demonstrate knowledge of insurable risk", NQF Level 4, 3 Credits.
    > ID 120128: "Apply the law of contract to insurance", NQF Level 4, 3 Credits.
    > ID 242653: "Apply technical knowledge and skill to value movable and immovable assets for insurance and risk financing", NQF Level 4, 3 Credits.
    > ID 120137: "Demonstrate knowledge and skill in order to assess a non-motor claim", NQF Level 4, 3 Credits.
    > ID 12153: "Use the writing process to compose texts required in the business environment", NQF Level 4, 5 Credits.
    > ID 120123: "Process a short term insurance claim", NQF Level 4, 3 Credits.
  • Short Term Insurance Risk and Management of Operational Risk (total 11 credits):

    This specialisation includes a basic understanding of people and financial risk and a more detailed understanding of operational risk for:

    > Surveyors, Risk Advisers, Short Term Insurance Consultants, Broker consultants who advise or give advice on physical risk on behalf of insurers regarding conditions or protection and/or remedial action required by the insurer for the risk to be acceptable.
    > Risk Advisers who conduct compliance audits or advise clients on protection measures to mitigate risk for the client rather than the insurer.
    > ID 119896: "Investigate potential hazards in local contexts and suggest possible ways to minimise their spatial and social impact", NQF Level 3, 3 Credits.
    > ID 119894: "Demonstrate techniques for gathering and presenting fieldwork data", NQF Level 3, 3 Credits.
    > ID 12153: "Use the writing process to compose texts required in the business environment", NQF Level 4, 5 Credits.
  • Management of Medical Risk (total 43 credits):

    > ID 119259: "Explain the roles of actuaries, underwriters, claims assessors and reinsurers in Long-term insurance", NQF Level 4, 3 Credits.
    > ID 118014: "Explain the cycle of a medical claim", NQF Level 4, 2 Credits.
    > ID 117215: "Explain the use of coding in Healthcare Benefits Administration", NQF Level 4, 4 Credits.
    > ID 118018: "Describe the control of fraud in Healthcare Benefits Administration", NQF Level 4, 8 Credits.
    > ID 117141: "Describe healthcare cover in South Africa", NQF Level 3, 2 Credits.
    > ID 118019: "Describe managed care as it is applied in Medical Scheme Administration in South Africa", NQF Level 4, 6 Credits.
    > ID 118012: "Research the Medical Scheme Administration sub-sector in South Africa", Level 4, 5 Credits.
    > ID 113927: "Analyse the proposed National Health policy as a means of providing healthcare for the nation", NQF Level 4, 4 Credits.
    > ID 242681: "Manage a case in accordance with the benefits of a selected medical scheme", NQF Level 4, 2 Credits.
    > ID 113932: "Explain the Medicines and Related Substances Control Amendment Act, 59 of 2003, as it impacts on medical schemes NQF", Level 4, 2 Credits.
    > ID 117155: "Explain the scope of the Compensation for Occupational Injuries and Diseases Act 130 of 1993 (COIDA)", NQF Level 4, 2 Credits.
    > ID 117118: "Apply knowledge of the current Medical Schemes Act and the accompanying regulations", NQF Level 4, 3 Credits.
  • Short Term Intermediaries (total 24 credits):

    > ID 120124: "Demonstrate knowledge of insurable risk", NQF Level 4, 3 Credits.
    > ID 120121: "Apply technical knowledge and understanding of the cover provided under a Short Term Multi-Peril Insurance policy", NQF Level 4, 5 Credits.
    > ID 120115: "Apply technical knowledge and understanding of business insurance", NQF Level 4, 10 Credits.
    > ID 120129: "Demonstrate knowledge and understanding of financial interactions of insurers, underwriting managers and intermediaries in short term insurance", NQF Level 4, 2 Credits.
    > ID 242584: "Demonstrate knowledge and understanding of the Financial Advisory and Intermediary Services Act 2002 (FAIS) (Act 37 of 2002) as it impacts on a specific financial services sub-sector", NQF Level 4, 2 Credits.
    > ID 117129: "Apply the regulations for disclosure that are required as part of the financial sales process", NQF Level 4, 2 Credits.
    > ID 119676, Apply the skills of customer care in a specific work environment, Level 4, 4 Credits.
    > ID 259363, Describe anatomy, physiology, pathophysiology and treatment options for specific conditions, Level 5, 45 Credits.
    > ID 259364, Utilise pharmacology and pharmaceutics to provide information about medicines and their appropriate use, Level 5, 10 Credits.
    > ID 259365, Explain managed health care in the pharmaceutical environment, Level 5, 3 Credits. 

  • EXIT LEVEL OUTCOMES 
    The focus of the FETC: Short-Term Risk Management is on fundamental knowledge of the management and transfer of risk and an ability to apply appropriate processes and procedures to solve problems in a familiar context, to adjust applications when required and to motivate the change. Learners are required to apply literacy and numeracy skills to different Short Term Insurance/Risk Management contexts. They are expected to gather, analyse and evaluate information from a range of sources and to present and communicate information reliably and accurately verbally and in writing.

    Learners should have the capacity to take responsibility for their own learning within a supervised environment and should be able to evaluate their own performance and address their shortcomings.

    The Exit Level Outcomes are the following, which means that the learner will be capable of:

    1. Carrying out basic research tasks and applying literacy and numeracy skills to analyse, interpret and evaluate information from a range of sources related to the management or transfer of risk.

    2. Managing personal finances.

    3. Apply knowledge of legislation, ethics, compliance and organisational protocols in a Short Term Insurance Medical Scheme of Risk Management environment.

    4. Demonstrate knowledge and understanding of basic general management principles and the management, control and transfer of risk in a business environment.

    Critical Cross-Field Outcomes:

    The learner can demonstrate ability to:
  • Identify and solve problems in familiar Risk Management/Short Term insurance contexts in which responses show that responsible decisions have been made, adjust common solutions to meet changes in the problem and motivate the change within own limit of authority.
  • Work effectively with others as a member of a team, group, organisation or community. As the qualification is intended to be part of a learnership it is unlikely that the learner would work alone.
  • Organise and manage oneself and one's activities responsibly and effectively in that it is expected that the learner will be responsible for his/her own learning and for organising his/her own work allocated tasks responsibly in the work environment. S/he is required to complete research assignments timeously and to apply knowledge of different aspects of the management and transfer of risk. S/he should be able to provide for his/her own financial security and manage his/her own finances.
  • Collect, organise and critically evaluate information. These competencies are built into the assessment criteria in many of the Unit Standards and the learner is required to do research projects and analyse information from the media.
  • Communicate effectively using visual, mathematics and language skills in the modes of oral and/or written presentations. These competencies are an integral part of all the Unit Standards and are built into the assessment criteria.
  • Use science and technology effectively and critically showing responsibility towards the environment and the health of others in that the learner is expected to access information from electronic media.
  • Demonstrate an understanding of the world as a set of related systems by recognising that problem-solving contexts do not exist in isolation in that references are made wherever applicable to the learner's part in the big picture and how his/her actions have implications up and down the line. The learner is expected to know and understand the management and/or transfer organisation as a system within the wider financial services/business risk context.
  • In addition this qualification contributes to the full personal development of each learner and the social and economic development of the society at large, by making it the underlying intention of any programme of learning to make the individual aware of the importance of:

    > Reflecting on and exploring a variety of strategies to learn more effectively in order to become an informed worker in positions related to the management or transfer of risk.
    > Being culturally sensitive across a range of social contexts in dealing with diverse people in the workplace including internal and external customers. 

  • ASSOCIATED ASSESSMENT CRITERIA 
    The focus of the FETC: Risk Management is on fundamental knowledge of the management and transfer of risk and an ability to apply appropriate processes and procedures to solve problems in a familiar context, to adjust applications when required and to motivate the change. Learners are required to apply literacy and numeracy skills to different Short Term Insurance/Risk Management contexts. They are expected to gather, analyse and evaluate information from a range of sources and to present and communicate information reliably and accurately verbally and in writing.

    Learners should have the capacity to take responsibility for their own learning within a supervised environment and should be able to evaluate their own performance and address their shortcomings.

    The Associated Assessment Criteria are the following, which means that the learner will be capable of:

    1:
  • Current events and developments related to the management and transfer of risk in a business sector or industry are analysed and discussed and a personal point of view is offered in the discussion indicating ability to anticipate or predict future trends.
  • Knowledge learnt in various Unit Standards and current events as they occur are integrated with a developing understanding of the Short Term/Operational Risk Management environment in general and a selected career path in particular, so that knowledge of the industry is applied in authentic situations.
  • Information is gathered, analysed, summarised, interpreted from a range of sources and presented reliably and accurately. Positions taken are motivated and substantiated.

    2:
  • The basic principles and different forms of individual income tax are explained with reference to an individual's liability and duty to pay tax.
  • Basic financial statements are analysed and used to make a personal financial decision.
  • Knowledge of financial risk is applied and managed in own life.

    3:
  • Methods, procedures and techniques of Short Term insurance or Operational Risk Management are explained with reference to specific company policy, and industry practices.
  • Information is gathered, analysed, evaluated, interpreted, recorded and presented and decisions are explained within own authority limits or mandate and with due regard for compliance.
  • The concept of ethics is explained with reference to an organisations code of conduct and an individual's personal and property rights.
  • Knowledge of legislation is applied to a specific work role.
  • Risks associated with non-compliance or non-activity that could result in liability are identified within the context of the management risk and transfer of business risk.

    4:
  • Knowledge of management principles and the risk management process are applied to manage risk in an authentic situation.

    Integrated assessment:

    Assessment practices must be fair, transparent, valid and reliable and should ensure that no learner is disadvantaged. Learners who wish to be assessed against the competencies in the Qualification and/or associated Unit Standards should direct enquiries to the relevant ETQA.

    The focus of assessment must be on the assessment of the learning outcomes rather than learning outputs. The Specific Outcomes guide the learning and training process towards the outcomes on a continuous basis. The purpose is to determine whether the outcomes have been attained. Situations should present a wide range of options. Applications should require significant choices from a wide range of procedures and in a number of contexts.

    Learning, teaching and assessment are inextricably linked. Where appropriate, assessment of knowledge, skills, attitudes and values indicated in the various Unit Standards should be integrated.

    Assessment has a formative monitoring function. Formative assessment should be used to assess gaps in the learners' skill and knowledge and to indicate where there is a need for expanded opportunities. The goal is to promote learning and to assess the efficacy of the teaching and learning process. Feedback from assessment informs teaching and learning and allows for the critique of outcomes, methodology and materials. Formative assessment is diagnostic and as such it should guide the learner and the trainer. It is continuous and is used to plan appropriate learning experiences to meet the learner's needs. It provides information about problems experienced at different stages in the learning process. As it is criterion referenced, if the learner has met the assessment criteria, he/she has achieved the outcomes.

    Assessment should also have a summative component. Summative assessment may be used on completion of a Unit Standard, but should not be the only form of assessment.

    Assessment should take place in an authentic context as far as is possible. A variety of methods must be used in assessment and tools and activities must be appropriate to the context in which the learner is working. Where it is not possible to assess competence in the workplace, simulations, case studies and other similar techniques should be used to provide a context appropriate to the assessment.

    Integration implies that theoretical and practical components should, where possible, be assessed together. Integrative techniques should be used to assess applied competence. Learners should be required to demonstrate that they can perform the outcomes with understanding and insight.

    Assessment should ensure that all Specific Outcomes, embedded knowledge and Critical Cross-Field Outcomes are evaluated. Assessment of the Critical Cross-Field Outcomes should be integrated with the assessment of the Specific Outcomes. The Critical Cross-Field Outcomes are implicit in some Unit Standards and programmes should be designed to extend and further reflect the integration. 

  • INTERNATIONAL COMPARABILITY 
    Sites researched:
  • United Kingdom:

    Financial Services Skills Council - UK: The Financial Services Skills Council is licensed by the UK government to work in partnership with employers to provide strategic and responsible leadership for training, education and development for the financial services industry in the UK - http://www.fsnto.org.uk
  • Australia:

    The National Training Information Service (Australia): The Australian Government's National Training Information Service web site provides information on the Qualifications, Qualification structures and the Unit Standards registered on the Australian Qualifications Framework (AQF) - http://www.ntis.gov.au
  • Africa:

    There are currently no insurance and investment/financial services Qualifications or Unit Standards available in a, African Union (AU) or SADEC country to use for comparison. The following websites were investigated:

    > Botswana Training Authority (BOTA) - http://www.bota.org.bw
    > The Namibia Training Authority (NTA) - http://www.nta.com.na/index.php?option=com_frontpage&Itemid=1

    Background and rationale for the choice of countries for comparison:

    South Africa has a highly regulated and sophisticated financial services sector. In comparing this Qualification to those of other countries it is necessary to select countries where the financial services sector is comparable to that of South Africa. It is not possible to use an African country for the comparison, but research has shown that learners from the African Continent use the Insurance Institute of South Africa or British Based institutions for accreditation through distance learning. The United Kingdom was therefore an obvious choice for the comparison. Australia has been used for comparison of previous insurance and investment Qualifications and was therefore a logical choice for consistency.
  • Australia:

    > FNS51104: Diploma of Financial Risk Management provides a cross industry qualification. Specialist risk management activities associated with particular markets in financial services (e.g. insurance broking, insurance services, financial markets, risk consulting) could be incorporated into this qualification. Sectoral customisation can be achieved through identification and inclusion of sectoral risk units as electives and contextualisation of the sectoral core units.

    In order to attain the Diploma of Financial Risk Management 12 units must be achieved:

    > 4 Industry Core units.
    > 4 Sectoral Core units.
    > 4 Elective units.

    Comparison of the industry Australian core units with the FETC: Risk Management: The industry core units are acquired at Certificate level III and IV.

    > FNBFS02A: Communicate in the workplace:

    From the description of the core unit, Communicate in the workplace (FNBFS02A) it appears that learners are required to demonstrate similar competencies to those in the Level 4 Communication and Mathematical Literacy Unit Standards included in the fundamental component of South African Further Education and Training Certificates (FETC's). The unit requires learners to use written and oral communication in the work environment. Critical aspects of evidence include:

    > Demonstrated ability to receive and understand messages and instructions.
    > Demonstrated ability to convey messages.
    > Demonstrated ability to seek appropriate assistance.
    > Knowledge of appropriate communication channels.
    > An appropriate level of understanding of industry and company policy.
    > Demonstrated ability to communicate both orally and in writing.
    > Demonstrated ability to appropriately format a document.
    > Demonstrated ability to successfully complete numerical calculations.
    > Knowledge of issues affecting people from a variety of backgrounds.

    In the FETC: Risk Management South African learners have the option of including, as electives, Unit Standards with similar outcomes to the Australian communication unit that are more specific and are contextualised to a specific business environment.

    > Use the writing process to compose texts required in a business environment.
    > Apply comprehension skills to engage oral texts in a business environment.
    > Apply comprehension skills to engage written texts in a business environment.
    > Describe how to manage workplace relationships.
    > Explain how to manage diversity in the workplace.

    > FNBFS04B: Use technology in the workplace:

    This core unit requires learners to effectively and efficiently use technology and equipment in the workplace. Critical aspects of evidence include:

    > Awareness of range of types of office technology.
    > Ability to appropriately and efficiently use technology.
    > Basic computer literacy, including the Internet.
    > Knowledge of basic repair and maintenance procedures.
    > Knowledge of relevant Occupational Health and Safety procedures.
    > Knowledge of appropriate legislation, codes of practice.
    > Company guidelines and procedures.

    The unit has synergies with the South African Critical Cross-field Outcome, Use science and technology effectively and critically showing responsibility towards the environment and the health of others which is integrated into a number of Unit Standards in the FETC: Risk Management. Use of technology can be integrated in the South African Communication Unit Standards that are classified as Fundamental in all Level 4 Qualifications on the National Qualifications Framework (NQF). In addition learners may select technology related electives such as:

    > Use an electronic system as a tool in a financial services context.
    > Communicate verbally with clients in a financial services environment.
    > Access information to respond to client enquiries in a financial services environment.

    In the Australian qualification the use of technology is a core component. There are synergies between the South African elective Unit Standards relating to understanding of basic computer literacy, IT technology and ability to use the technology in the business environment. The Unit Standard, Use an electronic system as a tool in a financial services context, has additional outcomes relating to data retrieval systems and business applications to integrate information which are not evident in the Australian unit, while the Australian unit has competencies of repair and maintenance that are not included in the South African Unit Standard. It appears that although there is not a South African Unit Standard that matches the Australian unit exactly, in both the Australian, Diploma of Financial Risk Management and the FETC: Risk Management learners are required to use technology and equipment in the workplace effectively and efficiently.

    > FNSICIND401A: Apply principles of professional practice to work in the financial services industry:

    This core unit has similarities with the South African Core Unit Standard, Demonstrate knowledge and application of ethical conduct in a business environment, and the exit level outcome, Apply knowledge of legislation, ethics, compliance and organisational protocols in a Short Term Insurance Medical Scheme of Risk Management environment.

    > FNBFS05A: Apply health and safety practices in the workplace:

    This unit covers the requirement to apply Health and Safety aspects of work within a Financial Services Environment. It incorporates Worksafe, Australia's generic 'Competency A', which is directly equivalent to the National Administration Competency Standards (Private Sector) 2nd Edition BSBCMN106A: Follow Occupational Health & Safety (OH&S) Policies and Procedures in the Workplace in order to ensure own safety and that of others in the Workplace. Critical aspects of evidence include:

    > Knowledge of Health and Safety legislation, guidelines and procedures.
    > Identification (evidence of knowledge) of significant hazards in the workplace.
    > Identification (evidence of understanding) of symbols used for Health and Safety signs.
    > Demonstrated knowledge of emergency procedures.
    > Demonstrated knowledge of safe work practices, including ergonomic requirements.
    > Demonstrated ability to recognise and avoid potentially hazardous situations.

    While health and safety practices are not specifically dealt with in the compulsory Unit Standards in the FETC: Risk Management, there are synergies with the Core Unit Standard, Analyse people related risks in an organisation in order to control the risk, in terms of Specific Outcome 2.

    In the FETC: Risk Management learners can select the Unit Standard, Demonstrate knowledge and application of the Occupational Health and Safety Act, 85 of 1993 (OHSA) (as amended) and the responsibilities of management in terms of the Act, as an elective. This Unit Standard has the same outcomes as the Australian unit, but the intended target is group is workers who are responsible for the health and safety of others, where the focus of the Australian unit is on workers at all levels and is similar in cognitive complexity to the Level 2 Unit Standard, Contribute to the health, safety and security of a financial services workplace. In addition South African learners can select, as an elective, the Unit Standards, Demonstrate knowledge and skill of the management safety risk which is of a higher cognitive level and is aimed at learners who are involved in the management of risk rather than general staff being aware of managing the risk in their own environment.

    Comparison of the industry Australian sectoral core units with the FETC: Risk Management: Learners are required to achieve 4 sectoral core units.

    > FNSRISK501A: Undertake risk identification:

    This unit covers require learners to demonstrate that they are able to identify the risks faced by an organisation, or a subsection of it, and assess the adequacy of existing controls which mitigate the impact of those risks. The unit requires the application of risk management skills to the process of identifying risks. Risks are described, existing risk controls are evaluated and improvements recommended where appropriate. It is applicable to general and specialist managers. It may be applied in any sector of the financial services industry.

    > FNSRISK502A: Assess risks:

    This unit expands on the unit FNSRISK501A: Identify risks, and covers the skills required in assessing the organisation's exposure to those risks. This unit requires the application of risk management skills to the process of assessing risks by examining their likelihood and their consequences. It is applicable to general and specialist managers. It may be applied in any sector of the financial services industry.

    > FNSRISK601A: Develop and implement risk mitigation plan:

    This unit covers the development and implementation of a plan/strategy for the treatment of the organisation's risks. It is applicable to managers, specialists, identified risk owners and personnel with risk management responsibilities. This unit requires the application of the knowledge of different risk treatment methods to the risks which have been identified and assessed as being unacceptable. This unit is one of a suite of units dealing with the risk management process.

    > FNSRISK602A: Determine and manage risk exposure strategies:

    This unit describes the high level competencies needed to analyse risk factors, determine appropriate risk assessment strategies, communicate risk assessment strategies to relevant staff and intermediaries, and manage risk assessment strategies. This unit requires the application of research and analysis skills for sourcing and collecting a range of data that can be used to manage risk assessment for investment and insurance products. It involves effectively analysing, determining and managing risk assessment strategies to support the underwriting process, and addressing compliance obligations. This is a high level, strategic unit aimed at setting the strategy for portfolio managers, including what types of business will be targeted and not targeted. It may be applied within insurance underwriting contexts within the financial services industry.

    In the South African, FETC: Risk Management, the generic risk management process is dealt with holistically in the Unit Standard, Demonstrate knowledge and application of the nature of risk and the risk management process which introduces a risk management process and the fundamentals of risk management in a work environment. It is intended for learners who manage operational risk in organisations or business units in both the public and private sectors and who give advice on commercial, industrial and/or corporate insurance. Learners who are competent in the Unit Standard are capable of:

    > Explaining the concept of risk in risk management.
    > Demonstrating knowledge and understanding of the risk management process.
    > Describing risk management in the context of an organisation.
    > Proposing a model to manage risk in a specific organisation or business unit.

    The risk management process is then applied in a number of Core Unit Standards relating to the management of operational risk and the transfer of risk as applied in short term insurance and medical schemes:

    > Analyse reports in the media that are related to the management or transfer of risk in a business sector or industry.
    > Apply general management principles to the risk management function.
    > Analyse people related risks in an organisation in order to control the risk.
    > Demonstrate knowledge and understanding of the consequences of operational incidents and losses on an entity.
    > Determine risk exposure in order to manage the risk in a specific situation.
    > Investigate quality and control mechanisms in a business unit.
    > Demonstrate knowledge and understanding of issues of compliance or non-activity that could result in civil or criminal liability in terms of business law.
    > Underwrite a standard risk in short-term commercial insurance.
    > Apply technical knowledge and skill in order to underwrite professional indemnity insurance.

    Additional elective Unit Standards allow learners to apply the risk management process in their own work context and allow for specialisation in short term insurance, loss adjusting, medical scheme risk and generic risk management.

    The four units Australian deal with steps in the risk management process:

    > FNSRISK501A: Undertake risk identification.
    > FNSRISK502A: Assess risks.
    > FNSRISK601A: Develop and implement risk mitigation plan.
    > FNSRISK602A: Determine and manage risk exposure strategies.

    The Australian units are generic in nature and when the embedded knowledge and competencies of the Australian unit are considered it appears that the South African Unit Standards correlate in terms of underlying Risk Management competencies and have additional competencies included in the different areas of specialisation.

    Comparison of the Australian industry elective units with the FETC: Risk Management:

    Learners are required to select at least 4 elective units:
    > All 4 elective units may be selected from the Financial Services Training Package at the Diploma level.
    > A maximum of 2 elective units may be selected from Certificate IV level.
    > A maximum of 2 elective units may be selected from other endorsed Training Packages in accordance with other packaging guidelines for this qualification.
    > The choice of electives from other packages or at lower or higher levels should be appropriate to the level and integrity of the qualification and to the workplace outcomes it is designed to meet.
    > The units suggested as electives are:
    > FNBFS06B: Resolve customer complaints.
    > FNSACCT506A: Implement and maintain internal control procedures.
    > FNSICGEN502A: Solve workplace problems.
    > FNSICORG506A: Develop and monitor policy and procedures.
    > FNSICORG508A: Manage a project.
    > FNSICORG513A: Implement quality systems within work area.
    > FNSICCOMP501A: Comply with financial services, legislation, industry and professional codes of practice.

    > FNBFS06B: resolve customer complaints:

    This unit covers the competencies required to take corrective action required in the resolution of customer complaints by self/others. Critical aspects of evidence include:

    > Thorough checking of complaint details.
    > Sound knowledge of relevant legislation and codes of conduct.
    > Strong communication skills in dealing with customers.
    > Understanding of dispute resolution procedures.
    > Ability to use relevant data entry and other office equipment.

    The South African elective, Apply the skills of customer care in a specific work environment has synergies with the Australian unit, but the South African standard appears to be broader in its scope. Although there are synergies in competency relating to understanding the client and communication skills, the Australian unit is very specific to one customer situation, the complaining customer. A learner who attains and applies the South African Unit Standard competencies will be able to resolve customer complaints, but the South African Unit Standard goes beyond customer complaints and has a more positive focus on providing impressive customer care/ service.

    In addition the Unit Standard, Demonstrate skills and techniques required to build a relationship with a client in a financial services environment includes aspects of client relationships as well as a complaints procedure.

    > FNSACCT506A: Implement and maintain internal control procedures and FNSICORG506A: Develop and monitor policy and procedures:

    The following South African Standards have synergies with the Australian standards.

    > Investigate quality and control mechanisms in a business unit.
    > Demonstrate knowledge and understanding of the principles of management in a business entity.
    > Apply knowledge and understanding of South African law to the management or risk.
    > Demonstrate knowledge and understanding of issues of compliance or non-activity that could result in civil or criminal liability in terms of business law.
    > Demonstrate a basic understanding of the role of a business strategy in managing a small business or business unit.

    In addition, Demonstrate knowledge and understanding of basic general management principles and the management, control and transfer of risk in a business environment, one of the exit outcomes of the FETC: Risk Management, deals specifically with internal control procedures, monitoring policy and procedures. Learners are required to apply knowledge of management principles and the risk management process to manage risk in an authentic situation.

    > FNSICGEN502A: Solve workplace problems:

    Identify and solve problems in which responses show that responsible decisions using critical and creative thinking have been made, is one of the South African Critical Cross-field Outcomes and is integrated into almost all the Unit Standards in the FETC: Risk Management. Learners are required to identify problems and suggest or recommend possible solutions within different contexts. The Unit Standards frequently refer to aspects of compliance and the consequences of non-compliance. As the Qualification is intended for learners who give advice on matters relating to the management and transfer of risk, problem solving in specific work contexts is implicit in the Qualification.

    > FNSICORG508A: Manage a project:

    This is a generic unit that is not specific to financial services so only the title was available on the financial services package. There is no specific project management Unit Standard in the FETC: Risk Management, but learners are required to engage in aspects of project management in several of the risk management electives.

    > FNSICORG513A: Implement quality systems within work area:

    Implementing quality systems is implicit in the risk management Unit Standards in the FETC: Risk Management. It is specifically dealt with in the Unit Standards:

    > Investigate quality and control mechanisms in a business unit.
    > Demonstrate knowledge and understanding of issues of compliance or non-activity that could result in civil or criminal liability in terms of business law.
    > Apply technical knowledge and skill to align business unit performance to business goals.

    > FNSICCOMP501A: Comply with financial services, legislation, industry and professional codes of practice:

    This is a generic unit that is not specific to financial services so only the title was available on the financial services package. Based on the title of the Australian unit it appears that the South African Exit Outcome, Apply knowledge of legislation, ethics, compliance and organisational protocols in a Short Term Insurance Medical Scheme of Risk Management environment, has synergies with the Australian unit. In addition, it can be inferred that there are similarities with the Unit Standards:

    > Demonstrate knowledge and application of ethical conduct in a business environment.
    > Demonstrate knowledge and understanding of issues of compliance or non-activity that could result in civil or criminal liability in terms of business law.
    > Apply knowledge and understanding of South African law to the management or risk.
  • United Kingdom (UK):

    The Chartered Insurance Institute suggested their programmes module, 655: Risk management for this comparison.

    > 655: Risk management:

    The objective of the module is to develop in the candidate:

    > An understanding and an appreciation of the role of risk management in producing an effective and efficient strategy for handling risk in any organisation.
    > The ability to apply knowledge and skills to practical situations.
    > The ability to synthesise different aspects of the syllabus and apply them to given scenarios.

    The module includes:

    1. The context of risk management:
    > Relationship between risk and the organisation.
    > Definition of risk management.
    > The need for risk management.
    > Risk Management and Corporate Governance.
    > The risk management process.
    > The role of the risk manager.
    > Global Risk.

    2. Identification of risk:
    > Sources and use of information for the risk management process.
    > Techniques used to identify risks.

    3. Assessment and analysis of risk:
    > Quantitative and Qualitative Analysis.
    > Internal and external Comparisons (Benchmarking).

    4. Prioritisation of risk.

    5. Risk control:
    > Risk control plans.
    > Business continuity management.
    > Risks within the service chain.
    > Technology and e-commerce risks.
    > Damage risk control.
    > Intellectual asset exposure and controls.
    > Liability control.
    > Product risk control.
    > Other risk control.
    > Evaluation of risk control.

    6. Retained risk:
    > Retained Risk:
    > Self insurance/funding.
    > Captives.
    > Evaluation of risk financing.
    > Preparation and implementation of risk financing plans.

    7. Transferring risk:
    > Transferring Risk.
    > Risk and insurance programmes.

    8. Monitoring and review:
    > Reasons and frequency of review.
    > Methods of monitoring and reviewing risk.

    The South African Unit Standards Demonstrate knowledge and application of the nature of risk and the risk management process and Apply general management principles to the risk management function include the generic outcomes of the Chartered Insurance Institute module. The remaining risk related Unit Standards included in the FETC: Risk Management allow for specialisation, but integrate generic risk management principles that compare with the Chartered Insurance Institute module. Learners are required to apply the risk management process in a variety of contexts in short term insurance, and the management of medical scheme risk or generic risk.

    The specialised aspects of retained risk (self insurance/funding), evaluation of risk financing and preparation and implementation of risk financing plans are included in the National Certificate: Short Term Insurance: Level 5 and are not dealt with in the FETC: Risk Management. Technology risk is an elective in the FETC: Risk Management, but e-commerce risk is only included as a Level 6 Unit Standard in the National Certificate: Short Term Insurance: Level 5. All other aspects of the module are included in the FETC: Risk Management.

    Conclusion:

    The FETC: Risk Management meets the same outcomes and competencies relating to generic risk management as the two international qualifications although the Australian Qualification is at diploma level, and The Chartered Insurance Institute module is a stand alone module that addresses risk at First Degree level. The Australian qualification focuses on financial services (specifically insurance and banking) which should imply a strong focus on financial risk management although this is not evident from the documents available for this comparison. The FETC: Risk Management is more focused on the management of operational risk and risk transfer in an insurance or medical scheme context. The FETC: Risk Management is comparable to the Australian and United Kingdom qualifications in the knowledge and skill requirements although it is assumed that the international qualifications should require a higher level of cognitive engagement as they are located in Higher Education. All three Qualifications require learners to know and apply the risk management process. 

  • ARTICULATION OPTIONS 
    This Qualification articulates horizontally with:
  • Further Education and Training Certificate: Wealth Management - (still to be captured by SAQA).
  • 49649: Further Education and Training Certificate: Long-term Insurance, Level 4.
  • 49529: Further Education and Training Certificate: Long-Term Risk Assessment, Level 4.
  • 49929: Further Education and Training Certificate: Short Term Insurance, Level 4.
  • 49835: Further Education and Training Certificate: Retail Insurance, Level 4.
  • 49356: Further Education and Training Certificate: Medical Claims Assessing, Level 4.
  • 48493: National Certificate: Financial Services: Wealth Management, Level 4.
  • 24396: National Certificate: Risk Management, Level 4.
  • Any other FETC on the basis of the Fundamentals.

    Vertical articulation is possible with the following Qualifications:
  • Financial Services Qualifications at Level 5 in that Fundamental Competencies gained in Communication and Mathematical Literacy in this Qualification should enable the learner to proceed with applicable industry Qualifications at NQF Level 5.
  • Management Qualifications at Level 5 depending on the admission requirements of specific Higher Education Institutions.
  • 49834: National Certificate: Financial Services: Long-Term Risk Assessment, Level 5.
  • 49860: National Diploma: Financial Services: Long-Term Risk Assessment, Level 5.
  • As this is a Further Education and training Qualification it should provide the learner with access to any Qualification at Level 5, subject to the admission requirements of the provider/Higher Education Institutions. 

  • MODERATION OPTIONS 
    This Qualification will be internally assessed and externally moderated by a moderator registered by a relevant accredited ETQA or an ETQA that has a Memorandum of Understanding with the relevant accredited ETQA.
  • Moderators, competent at the level of the Qualification, are registered by a relevant accredited ETQA to ensure that the standard across assessors is consistent.
  • Moderators must be registered as assessors with the relevant ETQA.
  • Moderators are required to report to a relevant accredited ETQA.
  • A relevant accredited ETQA will monitor and quality assure moderation and assessment according to guidelines in the Qualification. 

  • CRITERIA FOR THE REGISTRATION OF ASSESSORS 
    Criteria for registration of internal and external assessors in the sub-field:

    This Qualification will be internally assessed by the provider and moderated by a moderator registered by a relevant accredited ETQA or an ETQA that has a Memorandum of Understanding with the relevant accredited ETQA.
  • Assessors must be registered as assessors with a relevant accredited ETQA.
  • Moderators, competent at the level of the Qualification are registered by a relevant accredited ETQA to ensure that the standard across assessors is consistent.
  • Providers must be accredited as providers with a relevant accredited ETQA.
  • Assessors should be in possession of a relevant insurance Qualification at NQF Level 5 or higher. 

  • NOTES 
    This qualification replaces qualification 24396, "National Certificate: Risk Management", Level 4, 140 credits. 

    UNIT STANDARDS: 
      ID UNIT STANDARD TITLE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
    Core  114941  Apply knowledge of HIV/AIDS to a specific business sector and a workplace  Level 3  NQF Level 03 
    Core  242675  Analyse people related risks in an organisation in order to control the risk  Level 4  NQF Level 04 
    Core  242659  Analyse reports in the media that are related to the management or transfer of risk in a business sector or industry  Level 4  NQF Level 04  10 
    Core  242657  Apply general management principles to the risk management function  Level 4  NQF Level 04 
    Core  242661  Apply knowledge and understanding of South African law to the management of risk  Level 4  NQF Level 04 
    Core  242655  Demonstrate knowledge and application of ethical conduct in a business environment  Level 4  NQF Level 04 
    Core  242658  Demonstrate knowledge and application of the nature of risk and the risk management process  Level 4  NQF Level 04 
    Core  120127  Demonstrate knowledge and understanding of issues of compliance or non-activity that could result in civil or criminal liability in terms of business law  Level 4  NQF Level 04 
    Core  242672  Demonstrate knowledge and understanding of the consequences of operational incidents and losses on an entity  Level 4  NQF Level 04 
    Core  242674  Demonstrate knowledge and understanding of the principles of management in a business entity  Level 4  NQF Level 04 
    Core  242654  Determine risk exposure in order to manage the risk in a specific situation  Level 4  NQF Level 04 
    Core  118005  Investigate quality and control mechanisms in a business unit  Level 4  NQF Level 04 
    Fundamental  119472  Accommodate audience and context needs in oral/signed communication  Level 3  NQF Level 03 
    Fundamental  119457  Interpret and use information from texts  Level 3  NQF Level 03 
    Fundamental  119467  Use language and communication in occupational learning programmes  Level 3  NQF Level 03 
    Fundamental  119465  Write/present/sign texts for a range of communicative contexts  Level 3  NQF Level 03 
    Fundamental  9015  Apply knowledge of statistics and probability to critically interrogate and effectively communicate findings on life related problems  Level 4  NQF Level 04 
    Fundamental  117127  Describe and apply the basic principles of personal income tax  Level 4  NQF Level 04 
    Fundamental  119462  Engage in sustained oral/signed communication and evaluate spoken/signed texts  Level 4  NQF Level 04 
    Fundamental  117156  Interpret basic financial statements  Level 4  NQF Level 04 
    Fundamental  117158  Investigate ways of managing financial risk in own lives  Level 4  NQF Level 04 
    Fundamental  119469  Read/view, analyse and respond to a variety of texts  Level 4  NQF Level 04 
    Fundamental  9016  Represent analyse and calculate shape and motion in 2-and 3-dimensional space in different contexts  Level 4  NQF Level 04 
    Fundamental  119471  Use language and communication in occupational learning programmes  Level 4  NQF Level 04 
    Fundamental  7468  Use mathematics to investigate and monitor the financial aspects of personal, business, national and international issues  Level 4  NQF Level 04 
    Fundamental  119459  Write/present/sign for a wide range of contexts  Level 4  NQF Level 04 
    Elective  9302  Access information in order to respond to client enquiries in a financial services environment  Level 3  NQF Level 03 
    Elective  117111  Apply knowledge of basic accounting principles to financial services  Level 3  NQF Level 03 
    Elective  116966  Apply knowledge of self and own situation to manage risks resulting from change in the workplace  Level 3  NQF Level 03 
    Elective  114952  Apply problem-solving techniques to make a decision or solve a problem in a real life context  Level 3  NQF Level 03 
    Elective  113909  Coach a team member in order to enhance individual performance in work environment  Level 3  NQF Level 03 
    Elective  9303  Communicate verbally with clients in a financial environment  Level 3  NQF Level 03 
    Elective  123417  Demonstrate ability to use and interpret texts that apply to the role and responsibilities of Trustees of retirement funds  Level 3  NQF Level 03 
    Elective  123421  Demonstrate knowledge and understanding of the role and responsibilities of Trustees of Medical Schemes  Level 3  NQF Level 03 
    Elective  123420  Demonstrate knowledge and understanding of the role and responsibilities of Trustees of retirement funds  Level 3  NQF Level 03 
    Elective  123419  Demonstrate knowledge and understanding the duties of Trustees of retirement funds with regard to death benefits  Level 3  NQF Level 03 
    Elective  119894  Demonstrate techniques for gathering and presenting fieldwork data  Level 3  NQF Level 03 
    Elective  117141  Describe healthcare cover in South Africa  Level 3  NQF Level 03 
    Elective  114943  Describe how to manage workplace relationships  Level 3  NQF Level 03 
    Elective  117130  Explain aviation insurance  Level 3  NQF Level 03 
    Elective  117132  Explain basic economics  Level 3  NQF Level 03 
    Elective  114932  Explain how to manage diversity in the workplace  Level 3  NQF Level 03 
    Elective  117135  Explain insurance transactions specific to Lloyd's of London  Level 3  NQF Level 03 
    Elective  114934  Explain the concept of disability and the associated challenges for an organisation  Level 3  NQF Level 03 
    Elective  113907  Explain the impact of personal wellness on work performance  Level 3  NQF Level 03 
    Elective  114966  Explain the types of compulsory statutory insurance in South Africa  Level 3  NQF Level 03 
    Elective  114946  Identify causes of stress and techniques to manage it in the workplace  Level 3  NQF Level 03 
    Elective  114985  Indicate how different needs lead to the development of different Financial Service products  Level 3  NQF Level 03 
    Elective  119893  Interpret spatial information from maps and other sources  Level 3  NQF Level 03 
    Elective  119896  Investigate potential hazards in local contexts and suggest possible ways to minimise their spatial and social impact  Level 3  NQF Level 03 
    Elective  117128  Investigate the upside and downside business risk in hand held electronic devices.  Level 3  NQF Level 03 
    Elective  117133  Manage own work performance in relation to an organisation's performance management system  Level 3  NQF Level 03 
    Elective  119915  Manage personal expenditure  Level 3  NQF Level 03 
    Elective  117171  Manage time effectively to enhance productivity and enable a balanced lifestyle  Level 3  NQF Level 03 
    Elective  113911  Use an electronic system as a tool in a financial services context  Level 3  NQF Level 03 
    Elective  119903  Analyse and synthesise spatial information from maps and other forms of spatial information  Level 4  NQF Level 04 
    Elective  119679  Analyse the Financial Services industry and the role of insurance in a business environment  Level 4  NQF Level 04 
    Elective  119904  Analyse the impact of weather events on selected regions  Level 4  NQF Level 04 
    Elective  113927  Analyse the proposed National Health policy as a means of providing healthcare for the nation  Level 4  NQF Level 04 
    Elective  120130  Apply basic technical knowledge of a light motor vehicle to authorise a claim  Level 4  NQF Level 04 
    Elective  120126  Apply basic technical knowledge of a vehicle to authorise a heavy motor vehicle claim  Level 4  NQF Level 04 
    Elective  12154  Apply comprehension skills to engage oral texts in a business environment  Level 4  NQF Level 04 
    Elective  12155  Apply comprehension skills to engage written texts in a business environment  Level 4  NQF Level 04 
    Elective  117121  Apply knowledge and insight into the Short Term Insurance Act (No 53 of 1998) and the accompanying regulations  Level 4  NQF Level 04 
    Elective  117149  Apply knowledge and insight into the statutory cover afforded under the Compensation for Occupational Injuries and Diseases Act, 130 of 1993, as amended (COIDA)  Level 4  NQF Level 04 
    Elective  120022  Apply knowledge and understanding of personal accident insurance  Level 4  NQF Level 04 
    Elective  120109  Apply knowledge of agricultural crop insurance  Level 4  NQF Level 04 
    Elective  120120  Apply knowledge of business interruption insurance  Level 4  NQF Level 04 
    Elective  242662  Apply knowledge of fire exposures in order to manage the potential fire risk  Level 4  NQF Level 04 
    Elective  120020  Apply knowledge of insurance to the transportation of a consignment of goods  Level 4  NQF Level 04 
    Elective  120125  Apply knowledge of public liability insurance  Level 4  NQF Level 04 
    Elective  242676  Apply knowledge of risk to advise a client on risk acceptance requirements and appropriate cover for a specific business  Level 4  NQF Level 04 
    Elective  120136  Apply knowledge of Short Term Insurance to reinsurance  Level 4  NQF Level 04 
    Elective  120122  Apply knowledge of Short Term Insurance to the All Risks section of a commercial policy  Level 4  NQF Level 04 
    Elective  117118  Apply knowledge of the current Medical Schemes Act and the accompanying regulations  Level 4  NQF Level 04 
    Elective  114209  Apply Return on Investment (ROI) theory and practice to a business unit  Level 4  NQF Level 04 
    Elective  242679  Apply technical knowledge and skill in emergency planning  Level 4  NQF Level 04 
    Elective  120371  Apply technical knowledge and skill in order to manage motor vehicle risk  Level 4  NQF Level 04 
    Elective  242684  Apply technical knowledge and skill in order to manage risk in engineering losses  Level 4  NQF Level 04 
    Elective  242664  Apply technical knowledge and skill in order to manage risk in general and product liability  Level 4  NQF Level 04 
    Elective  242656  Apply technical knowledge and skill in order to manage risk in motor vehicle losses due to theft and hijacking  Level 4  NQF Level 04 
    Elective  242665  Apply technical knowledge and skill in order to manage risk in occupational health and occupational hygiene  Level 4  NQF Level 04 
    Elective  242673  Apply technical knowledge and skill in order to manage risks associated with electronic technology  Level 4  NQF Level 04 
    Elective  242671  Apply technical knowledge and skill in order to manage security risk  Level 4  NQF Level 04 
    Elective  120116  Apply technical knowledge and skill in order to underwrite professional indemnity insurance  Level 4  NQF Level 04 
    Elective  13949  Apply technical knowledge and skill to align business unit performance to business goals  Level 4  NQF Level 04 
    Elective  120111  Apply technical knowledge and skill to assess an aviation risk  Level 4  NQF Level 04 
    Elective  120138  Apply technical knowledge and skill to determine the quantum and validity of a domestic or light motor vehicle claim  Level 4  NQF Level 04 
    Elective  120119  Apply technical knowledge and skill to determine the quantum and validity of an industrial or heavy vehicle claim  Level 4  NQF Level 04  10 
    Elective  242669  Apply technical knowledge and skill to manage the risk associated with dangerous and hazardous substances  Level 4  NQF Level 04 
    Elective  242653  Apply technical knowledge and skill to value movable and immovable assets for insurance and risk financing  Level 4  NQF Level 04 
    Elective  120115  Apply technical knowledge and understanding of business insurance  Level 4  NQF Level 04  10 
    Elective  120135  Apply technical knowledge and understanding of business motor insurance  Level 4  NQF Level 04 
    Elective  120134  Apply technical knowledge and understanding of Contract Works Insurance  Level 4  NQF Level 04 
    Elective  120114  Apply technical knowledge and understanding of fidelity insurance as a means of managing people related financial risk  Level 4  NQF Level 04 
    Elective  120108  Apply technical knowledge and understanding of insurance in the event of machinery breakdown  Level 4  NQF Level 04 
    Elective  120121  Apply technical knowledge and understanding of the cover provided under a Short Term Multi-Peril Insurance policy  Level 4  NQF Level 04 
    Elective  120113  Apply technical knowledge and understanding of the insurance of timber plantations  Level 4  NQF Level 04 
    Elective  120117  Apply technical knowledge and understanding of the insurance of wild life, livestock and other animals  Level 4  NQF Level 04 
    Elective  242666  Apply technical knowledge of risk to business interruption  Level 4  NQF Level 04 
    Elective  13941  Apply the budget function in a business unit  Level 4  NQF Level 04 
    Elective  120128  Apply the law of contract to insurance  Level 4  NQF Level 04 
    Elective  13953  Apply the principles of situational leadership to a business unit  Level 4  NQF Level 04 
    Elective  117129  Apply the regulations for disclosure that are required as part of the financial sales process  Level 4  NQF Level 04 
    Elective  119676  Apply the skills of customer care in a specific work environment  Level 4  NQF Level 04 
    Elective  13942  Demonstrate a basic understanding of the role of a business strategy in managing a small business or a business unit  Level 4  NQF Level 04 
    Elective  13952  Demonstrate basic understanding of the Primary labour legislation that impacts on a business unit  Level 4  NQF Level 04 
    Elective  120006  Demonstrate knowledge and application of aviation legislation that impacts on insurance  Level 4  NQF Level 04 
    Elective  120018  Demonstrate knowledge and application of Sectional Title Insurance  Level 4  NQF Level 04 
    Elective  242668  Demonstrate knowledge and application of the Occupational Health and Safety Act, 85 of 1993 (OHSA) (as amended) and the responsibilities of management in terms of the Act  Level 4  NQF Level 04 
    Elective  120137  Demonstrate knowledge and skill in order to assess a non-motor claim  Level 4  NQF Level 04 
    Elective  242683  Demonstrate knowledge and understanding of engineering insurance  Level 4  NQF Level 04 
    Elective  120129  Demonstrate knowledge and understanding of financial interactions of insurers, underwriting managers and intermediaries in short term insurance  Level 4  NQF Level 04 
    Elective  242660  Demonstrate knowledge and understanding of the Explosives Act, 26 of 1956 as amended as it impacts on management of risk  Level 4  NQF Level 04 
    Elective  242584  Demonstrate knowledge and understanding of the Financial Advisory and Intermediary Services Act 2002 (FAIS) (Act 37 of 2002) as it impacts on a specific financial services sub-sector  Level 4  NQF Level 04 
    Elective  120008  Demonstrate knowledge and understanding of the insurance of pleasure craft  Level 4  NQF Level 04 
    Elective  242667  Demonstrate knowledge and understanding of the management of safety risk  Level 4  NQF Level 04 
    Elective  242682  Demonstrate knowledge and understanding of the Mines Health and Safety Act, 29, of 1996 and its application  Level 4  NQF Level 04 
    Elective  120026  Demonstrate knowledge and understanding of the Road Ordinance as it applies to motor insurance  Level 4  NQF Level 04 
    Elective  120112  Demonstrate knowledge and understanding of the sales process in Short Term insurance  Level 4  NQF Level 04 
    Elective  120013  Demonstrate knowledge and understanding of the scope of transportation insurance  Level 4  NQF Level 04 
    Elective  120023  Demonstrate knowledge and understanding of the standard in insurance cover in terms of NASRIA  Level 4  NQF Level 04 
    Elective  242677  Demonstrate knowledge and understanding of trade credit insurance  Level 4  NQF Level 04 
    Elective  120009  Demonstrate knowledge and understanding of transportation insurance  Level 4  NQF Level 04 
    Elective  120014  Demonstrate knowledge and understanding of warranty as a class of insurance  Level 4  NQF Level 04 
    Elective  242685  Demonstrate knowledge of environmental legislation as it impacts on management of risk  Level 4  NQF Level 04 
    Elective  120124  Demonstrate knowledge of insurable risk  Level 4  NQF Level 04 
    Elective  113903  Demonstrate skills and techniques required to build a relationship with a client in a financial services environment  Level 4  NQF Level 04 
    Elective  13945  Describe and apply the management of stock and fixed assets in a business unit  Level 4  NQF Level 04 
    Elective  118019  Describe managed care as it is applied in Medical Scheme Administration in South Africa  Level 4  NQF Level 04 
    Elective  117117  Describe standard insurance cover in terms of SASRIA  Level 4  NQF Level 04 
    Elective  118018  Describe the control of fraud in Healthcare Benefits Administration  Level 4  NQF Level 04 
    Elective  117241  Develop a business plan for a small business  Level 4  NQF Level 04 
    Elective  242680  Evaluate a credit risk  Level 4  NQF Level 04 
    Elective  113923  Explain fiduciary responsibilities and the associated risks  Level 4  NQF Level 04 
    Elective  242593  Explain South African money laundering legislation and the implications for accountable institutions in transacting with clients  Level 4  NQF Level 04 
    Elective  242663  Explain the application of the National Building Act, 103 of 1977 (as amended) as described in SANS 10/0400  Level 4  NQF Level 04 
    Elective  113928  Explain the application of the Promotion of Access to Information Act, 2 of 2002 and the Electronic Transactions and Communications Act, 25 of 2002, in Wealth Management  Level 4  NQF Level 04 
    Elective  118014  Explain the cycle of a medical claim  Level 4  NQF Level 04 
    Elective  119909  Explain the implications of climate change for an economic sector  Level 4  NQF Level 04 
    Elective  113932  Explain the Medicines and Related Substances Control Amendment Act, 59 of 2003, as it impacts on medical schemes  Level 4  NQF Level 04 
    Elective  242678  Explain the Mineral and Petroleum Resources Development Act, (2002) as it impacts on management of risk in a specific operation  Level 4  NQF Level 04 
    Elective  119259  Explain the roles of actuaries, underwriters, claims assessors and reinsurers in Long-term insurance  Level 4  NQF Level 04 
    Elective  117155  Explain the scope of the Compensation for Occupational Injuries and Diseases Act 130 of 1993 (COIDA)  Level 4  NQF Level 04 
    Elective  117215  Explain the use of coding in Healthcare Benefits Administration  Level 4  NQF Level 04 
    Elective  119899  Explain trade in a global economy  Level 4  NQF Level 04 
    Elective  14319  Explore strategies to retain or expand existing business in the insurance/investment industry  Level 4  NQF Level 04 
    Elective  117244  Investigate the possibilities of establishing and running a small business enterprise (SMME)  Level 4  NQF Level 04 
    Elective  242681  Manage a case in accordance with the benefits of a selected medical scheme  Level 4  NQF Level 04 
    Elective  119265  Manage risk in own work environment  Level 4  NQF Level 04 
    Elective  120131  Manage the risk in an agricultural entity  Level 4  NQF Level 04 
    Elective  114215  Mentor a colleague to enhance the individual`s knowledge, skills, values and attitudes in a selected career path  Level 4  NQF Level 04 
    Elective  242670  Mitigate a potential loss and process a claim in trade credit insurance.  Level 4  NQF Level 04 
    Elective  120123  Process a short term insurance claim  Level 4  NQF Level 04 
    Elective  120133  Produce photographic evidence of a collision  Level 4  NQF Level 04 
    Elective  118012  Research the Medical Scheme Administration sub-sector in South Africa  Level 4  NQF Level 04 
    Elective  120110  Underwrite a standard risk in short term commercial insurance  Level 4  NQF Level 04  10 
    Elective  113912  Use an electronic system to propose a financial solution  Level 4  NQF Level 04 
    Elective  12153  Use the writing process to compose texts required in the business environment  Level 4  NQF Level 04 
    Elective  259363  Describe anatomy, physiology, pathophysiology and treatment options for specific conditions  Level 5  Level TBA: Pre-2009 was L5  45 
    Elective  259365  Explain managed health care in the pharmaceutical environment  Level 5  Level TBA: Pre-2009 was L5 
    Elective  259364  Utilise pharmacology and pharmaceutics to provide information about medicines and their appropriate use  Level 5  Level TBA: Pre-2009 was L5  10 


    LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION: 
    When qualifications are replaced, some (but not all) of their learning programmes are moved to the replacement qualifications. If a learning programme appears to be missing from here, please check the replaced qualification.
     
    NONE 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS QUALIFICATION: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. CKP Development Agency (Pty) Ltd. 
    2. Invuya Institute of Learning (Pty) Ltd 



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