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

Apply general management principles to the risk management function 
SAQA US ID UNIT STANDARD TITLE
242657  Apply general management principles to the risk management function 
ORIGINATOR
SGB Insurance and Investment 
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 4  NQF Level 04  3 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Reregistered" 		 2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

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 unit standard replaces: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
14975  Explain the application of management principles in the risk management function  Level 4  NQF Level 04  3   

PURPOSE OF THE UNIT STANDARD 
This Unit Standard requires learners to apply knowledge of general management principles to manage risk in an authentic situation. It is intended for learners who manage operational risk in insurance and other organisations. It will be useful for Risk Management Generalists, Managers of Small Businesses, Insurance Surveyors and Loss Adjusters, Intermediaries who give advice in Commercial, Industrial and Corporate Insurance, Short Term Underwriters and Reinsurers and Case Managers in Medical Schemes.

The qualifying learner is capable of:
  • Explaining the role and functions of a risk manager.
  • Analysing the structures of an organisation and the associated hazards and risks.
  • Evaluating existing risk control measures in an organisation.
  • Proposing alternate measures to control risk in an organisation. 
    		•

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

    UNIT STANDARD RANGE 
    The typical scope of this Unit Standard is:
  • Risk control includes avoiding, eliminating, reducing and transferring the risk.
  • Policies include, but are not limited to, processes, practices and procedures.
  • A business unit is a small business, cost center, section or division.
  • Internal and external risk environments include skills, knowledge, experience, inadequate resources, facilities, infrastructure, financial controls and intellectual capital, general legislation, legislation specific to an industry and contractual liability. 
    		•

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Explain the role and functions of a risk manager. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The general principles of management are applied to the risk management function terms of leading and protecting, upside and downside opportunities for growth, and short term and long term interests. 

    ASSESSMENT CRITERION 2 
    The risk manager's role in identifying and managing risk is explained with reference to responsibility and accountability in reporting, consulting and advising. 

    ASSESSMENT CRITERION 3 
    The communication role of a risk manager is explained in terms of creating a culture of commitment and compliance. 

    ASSESSMENT CRITERION 4 
    The role of a risk manager in giving advice on strategic decisions is explained in terms of avoiding unnecessary risk. 

    SPECIFIC OUTCOME 2 
    Analyse the structure of an organisation and the associated hazards and risks. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The structure of an organisation is analysed in terms of reporting and controlling. 

    ASSESSMENT CRITERION 2 
    A business unit is analysed in terms of functions and procedures. 

    ASSESSMENT CRITERION 3 
    The hazards and risks in the overall structure of an organisation are identified, quantified and prioritised in terms of the potential impact on the organisation. 

    ASSESSMENT CRITERION 4 
    The hazards and risks in a business unit are identified and quantified in terms of the potential impact on the organisation. 

    SPECIFIC OUTCOME 3 
    Evaluate existing risk control measures in an organisation. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    A selected policy in an organisation is analysed for compliance. 

    ASSESSMENT CRITERION 2 
    A de facto practice in a business unit is compared to an organisation's stated policy. 

    ASSESSMENT CRITERION 3 
    The management controls to ensure the implementation of policies are evaluated for effectiveness. 

    SPECIFIC OUTCOME 4 
    Propose alternate measures to control risk in an organization. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The concept of control in risk management is explained with reference to avoidance, elimination, reduction and transfer. 

    ASSESSMENT CRITERION 2 
    Management shortfalls in an organisation are identified in terms of internal and external risk environments. 

    ASSESSMENT CRITERION 3 
    Alternate measures to control risk are proposed for risks identified in the organisation's structure, policies, practices and workplace skills plan. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • Anyone assessing a candidate against this Unit Standard must be registered as an assessor with the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Any institution offering learning that will enable achievement of this Unit Standard must be accredited as a provider through the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines and the agreed ETQA procedures. 
    		•

    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 
    Learners are capable of identifying and solving problems in which responses show that responsible decisions using critical and creative thinking have been made in identifying hazards and proposing alternate measures to control risk. 

    UNIT STANDARD CCFO COLLECTING 
    Learners are capable of collecting, organising and critically evaluating information in analysing the structure of the organisation and evaluating existing control measures. 

    UNIT STANDARD CCFO COMMUNICATING 
    Learners are capable of communicating effectively in proposing control measures and explaining the functions of a risk manager. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    This unit standard replaces unit standard 14975, ' Explain the application of management principles in the risk management function ', Level 4, 3 credits.

    Search words: risk control, risk management. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  57849   Further Education and Training Certificate: Dangerous Goods: Multi-modal Transportation  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2016-12-31  TETA 
    Core  57613   Further Education and Training Certificate: Short-Term Risk Management  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2012-06-30  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.
     
    NONE 


    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.