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

Apply scenario planning to explain potential risk in a specified financial services context 
SAQA US ID UNIT STANDARD TITLE
14530  Apply scenario planning to explain potential risk in a specified financial services context 
ORIGINATOR
SGB Financial Services 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 5  Level TBA: Pre-2009 was L5 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Registered" 
2003-08-13  2006-08-13  SAQA 0249/03 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2007-08-13   2010-08-13  

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 unit standard is replaced by: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
242580  Apply scenario planning to explain potential risk in a specified financial services context  Level 5  Level TBA: Pre-2009 was L5   

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for people who produce support documentation for financial planners and intermediaries and who work in research and development. It is relevant to intermediaries, financial planners, risk finance and financial advisors.

The qualifying learner is capable of:
  • Demonstrating knowledge and insight into relationships that operate in the broad financial services environment.
  • Using divergent thinking techniques to generate a variety of scenarios in a selected context.
  • Prioritising and select appropriate scenarios for a specific purpose or context.
  • Analysing the effect of each of the selected scenarios on a potential risk. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    There is open access to this Unit Standard. Learners should be competent in Communication and Mathematical and Financial Literacy at NQF Level 4.

    Competence in the Unit Standard, "Research the incidence, quality and severity of an occurrence in order to uncover a trend and anticipate a financial risk" would be an advantage to the learner. 

    UNIT STANDARD RANGE 
  • The macro environment includes the natural, social, economic, political, legislative and regulatory environments.
  • A client may be internal or external.
  • Macro and micro factors include understanding economic principles.
  • Scenarios should include some extreme scenarios. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Demonstrate knowledge and insight into relationships. 
    OUTCOME NOTES 
    Demonstrate knowledge and insight into the relationships that operate in the broad financial services environment. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. Knowledge of events in the macro environment is applied in order to initiate the formulation of potential scenarios. 

    ASSESSMENT CRITERION 2 
    2. Potential scenarios are contextualised within a specific financial services environment. 

    ASSESSMENT CRITERION 3 
    3. Likely responses to change are identified for the potential scenarios. 

    SPECIFIC OUTCOME 2 
    Use divergent thinking techniques to generate a variety of scenarios in a selected context. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. Appropriate divergent thinking techniques are used to generate at least five scenarios in a selected context. 

    SPECIFIC OUTCOME 3 
    Prioritise and select appropriate scenarios for a specific purpose or context. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. Criteria for selecting appropriate scenarios are negotiated to enable evaluation of the scenario. 

    ASSESSMENT CRITERION 2 
    2. The advantages and disadvantages of the various scenarios are debated and the range of scenarios is evaluated against the criteria and ranked for best fit. 

    ASSESSMENT CRITERION 3 
    3. The most appropriate scenarios are selected for further development and analysis. 

    ASSESSMENT CRITERION 4 
    4. The probability of the occurrence is tested in each proposed scenario. 

    ASSESSMENT CRITERION 5 
    5. Risk mitigation techniques are presented in a matrix for the various scenarios. 

    ASSESSMENT CRITERION 6 
    6. Factors that could lead to a scenario becoming the next scenario are discussed and an indication is given of the sensitivity of different outcomes. 

    SPECIFIC OUTCOME 4 
    Analyse the effect of each of the selected scenarios on potential risk. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. Information is injected into each scenario to synthesise the risk. 

    ASSESSMENT CRITERION 2 
    2. Research and own personal knowledge and insight are used to anticipate a potential outcome. 

    ASSESSMENT CRITERION 3 
    3. The potential impact of the anticipated outcomes on risk are identified and explained to the appropriate client. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    This Unit Standard will be internally assessed by the provider and moderated by a moderator registered by INSQA or a relevant accredited ETQA. The mechanisms and requirements for moderation are contained in the document obtainable from INSQA (INSQA framework for assessment and moderation). 

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    N/A 

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    The learner is able to identify and solve problems in which responses show that responsible decisions using critical and creative thinking have been made in using divergent thinking skills to generate a variety of scenarios in a selected context. 

    UNIT STANDARD CCFO WORKING 
    The learner is able to work as a member of a team in generating a variety of scenarios and evaluating the scenarios against negotiated criteria. 

    UNIT STANDARD CCFO ORGANISING 
    The learner is able to organise and manage him/herself and his/her activities responsibly and effectively applying scenario planning to explore potential risk. 

    UNIT STANDARD CCFO COLLECTING 
    The learner is able to collect, organise and critically evaluate information in applying knowledge of events in the macro environment to potential scenarios. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is able to communicate effectively using visual, mathematics and language skills in the modes of oral and/or written presentations in applying scenario planning and exploring potential risk. 

    UNIT STANDARD CCFO SCIENCE 
    The learner is able to use science and technology effectively and critically in injecting information into a variety of scenarios to synthesise the risk. 

    UNIT STANDARD CCFO DEMONSTRATING 
    The learner is able to demonstrate an understanding of the world as a set of related systems by recognising that problem-solving contexts do not exist in isolation in applying knowledge of events in the macro environment to formulate potential scenarios and explaining the potential impact of anticipated outcomes. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    UNIT STANDARD NOTES 
    This unit standard has been replaced by unit standard 242580, which is " Apply scenario planning to explain potential risk in a specified financial services context ", Level 5, 6 Credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  23973   National Certificate: Financial Services: Wealth Management  Level 5  Level TBA: Pre-2009 was L5  Passed the End Date -
    Status was "Registered" 
    2006-08-13  Was INSETA until Last Date for Achievement 
    Elective  49834   National Certificate: Financial Services: Long-Term Risk Assessment  Level 5  Level TBA: Pre-2009 was L5  Passed the End Date -
    Status was "Reregistered" 
    2012-06-30  INSETA 
    Elective  49860   National Diploma: Financial Services: Long-Term Risk Assessment  Level 5  NQF Level 05  Reregistered  2023-06-30  INSETA 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    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. Sanlam Life Insurance Ltd 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.