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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Demonstrate knowledge and understanding of the consequences of operational incidents and losses on an entity 
SAQA US ID UNIT STANDARD TITLE
242672  Demonstrate knowledge and understanding of the consequences of operational incidents and losses on an entity 
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 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
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
14998  Describe the operational consequences of incidents and losses on an entity  Level 4  NQF Level 04  Complete 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for learners who are involved in, or who give advice on, the management of risk. It will be useful for Risk Management Generalists, Loss Adjusters, Medical Scheme Product Developers, Disease and Case Managers, Surveyors, and Underwriters and other learners in Short Term Insurance.

The qualifying learner is capable of:
  • Analysing the kinds of operational losses or incidents that could impact on an entity.
  • Quantifying the potential severity and frequency of identified risks in an operation that could result in losses and/or claims.
  • Suggesting a contingency plan to rehabilitate identified risks in an entity.
  • Conducting a post loss analysis. 

  • 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
  • Potential people related losses include, but are not limited to, death, dread disease, health risk or injury, resignation and incidents related to people management.
  • Losses in relation to business process include, but are not limited to, to tangible and intangible production, finance, people and assets.
  • Losses in relation to markets include, but are not limited to, suppliers, customers and conveyance.
  • Intangible production includes, but is not limited to, production in schools, financial institutions and service industries.
  • Business risks include, but are not limited to business processes, markets and production, loss of customers, loss of reputation, competition, lead time and penalties.
  • An entity includes, but is not limited to a business unit, organisation or industry. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Analyse the kinds of operational losses that could impact on an entity. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Potential losses relating to people are analysed for a specific entity. 

    ASSESSMENT CRITERION 2 
    Potential losses relating to business processes are analysed for a specific entity. 

    ASSESSMENT CRITERION 3 
    Potential losses relating to markets are analysed for a specific sector. 

    ASSESSMENT CRITERION 4 
    Potential losses relating to production are analysed for a specific entity. 

    SPECIFIC OUTCOME 2 
    Quantify the potential severity and frequency of identified risks on an operation that could result in losses and/or claims. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Identified risks are quantified in terms of potential severity and frequency. 

    ASSESSMENT CRITERION 2 
    Incidents and losses that could impact on financial wellbeing of an entity are interpreted and recommendations are made to manage the potential impact. 

    SPECIFIC OUTCOME 3 
    Suggest a contingency plan to rehabilitate identified risks in an entity. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Contingency plans to rehabilitate people involved in incidents and losses in a specific entity are developed with reference to counseling, medical care, emergency services and key man risks. 

    ASSESSMENT CRITERION 2 
    Contingency plans to reinstate business processes in a specific organisation are developed with reference to replacement of assets, lead times, alternative production methods and market retention. 

    ASSESSMENT CRITERION 3 
    Short, medium and long term goals are proposed to rehabilitate an entity after a loss. 

    SPECIFIC OUTCOME 4 
    Conduct a post loss analysis. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The impact of losses and incidents on an entity is analysed for different scenarios. 

    ASSESSMENT CRITERION 2 
    Circumstances leading to a loss or incident are analysed and compared to pre-loss predictions in order to improve contingency plans. 


    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 developing plans to deal with contingencies in an entity. 

    UNIT STANDARD CCFO COLLECTING 
    Learners are capable of collecting, organising and critically evaluating information in analysing the impact of incidences and losses on an entity. 

    UNIT STANDARD CCFO COMMUNICATING 
    Learners are able communicate clearly in identifying potential losses and incidents, quantifying severity and frequency of potential risks and proposing plans for rehabilitation. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Learners are able to see the world as a set of related systems in identifying potential losses from a risk analysis. 

    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 14998, "Describe the operational consequences of incidents and losses on an entity", Level 4, 2 credits.

    Search words: operational losses, post loss analysis, contingency plans. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    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.