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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED QUALIFICATION: 

Postgraduate Diploma in Risk Management 
SAQA QUAL ID QUALIFICATION TITLE
118430  Postgraduate Diploma in Risk Management 
ORIGINATOR
Milpark Education (Pty) Ltd 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
-   HEQSF - Higher Education Qualifications Sub-framework 
QUALIFICATION TYPE FIELD SUBFIELD
Postgraduate Diploma  Field 03 - Business, Commerce and Management Studies  Generic Management 
ABET BAND MINIMUM CREDITS PRE-2009 NQF LEVEL NQF LEVEL QUAL CLASS
Undefined  120  Not Applicable  NQF Level 08  Regular-Provider-ELOAC 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Reregistered  EXCO 0821/24  2021-11-18  2027-06-30 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2028-06-30   2031-06-30  

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 does not replace any other qualification and is not replaced by any other qualification. 

PURPOSE AND RATIONALE OF THE QUALIFICATION 
Purpose:
The Postgraduate Diploma in Risk Management is designed to equip the learner with the skills necessary to function at a strategic level in the area of risk management in a business or public administration context. Learners can specialise in a specific industry or type of risk, i.e. banking, compliance, public administration, financial risk manager.

A foundation needs to be laid for learners to understand the "why" of Risk Management and risk-based decision-making as well as how risk strategy has to become one with business strategy. To grasp the techniques used in risk management, learners need to be exposed to the context and process of risk management. Foundational principles have to be applied to a practical case study in risk management so that learners have an opportunity to analyse and recommend different steps for implementation. Learners will specialise and become familiar with the approach to risk management.

Learners who have achieved this qualification will demonstrate competence in theoretical knowledge as well as practical application, this will be achieved through a combination of case studies and theory. The qualification will enable learners to establish themselves as specialists or leaders in their field. With this background, they will be able to make sure the risk management function is fully integrated into the organisation, and risks are managed and mitigated in such a way that each decision is taken in an objectives-based and risk-informed way.

The qualifying learner will be able to:
  • Facilitate objectives-based risk-informed decision making within an organisation, using an excellent understanding of the business and its environment as well as sound business ethics and corporate governance principles.
  • Ensure risk management is fully embedded and value-adding and an integral part of the organisation and its strategic and operational planning.
  • Ensure that both downside and upside risks across the enterprise are adequately identified, analysed, evaluated, treated effectively, monitored, and reviewed and that there is a business continuity plan in place to manage any disruptions to the business.

    Rationale:
    The qualification will create an opportunity for individuals and employers to build relevant and current skills for a specific profession at a strategic level. This qualification is taking into consideration new developments, in that every business decision should be risk-based, and risk management needs to be integrated into every aspect of the organisation. In today's workplace and society, risk management is playing an exceedingly important role, and new risks, partly stemming from the heightened use of technology, evolve daily. As part of the design and development of this qualification, the Institute of Risk Management South Africa (IRMSA) has been consulted. Detailed input and content of the qualification was incorporated.

    The typical learner identified to benefit from this qualification will be an individual who is currently working in the risk management profession and would like to upgrade their knowledge, skills and competencies for future work skills to a more senior level.

    The main benefits of this qualification for the learner will be to operate at the senior management level in an area that is gaining in importance, globally. With this, the economy will have at its disposal specialists that can lead the way in terms of risk management, and the society will benefit from specialists that can also operate in the public sector and mitigate disaster risks. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Recognition of Prior Learning (RPL):
    The institution can provide alternative entry routes for 10% of any intake as per the requirements. When the applicant in question has demonstrated capacity to undertake studies in the field in question, the institution may admit that person in terms of its RPL policy. Recognition of Prior Learning will be conducted according to the institutions' RPL policy.

    Applicants who have completed related work experience, relevant short courses or who have completed part of a related qualification, can apply for credits to the qualification.

    Learners applying for exemptions of modules need to complete an exemption application form. A certified copy of the qualification on which exemption application is based, or, a certified copy of the academic record, and the results obtained, is required. Where appropriate, a copy of the course outline/course materials, etc. must also be provided.

    Entry Requirements:
    The minimum entry requirement for this qualification is:
  • Advanced Diploma in Business Management, NQF Level 7 granting access to postgraduate studies.
    Or
  • Bachelor of Business Management, NQF Level 7 granting access to postgraduate studies.
    Or
  • Postgraduate Diploma in Corporate Governance, NQF Level 7 granting access to postgraduate studies.
    Or
  • Advanced Diploma in the related field at NQF Level 7, granting access to postgraduate studies. 
    		•

    RECOGNISE PREVIOUS LEARNING? 
    Y 

    QUALIFICATION RULES 
    This qualification consists of the following compulsory modules at National Qualifications Framework Level 8 totalling 120 Credits.

    Compulsory Modules, Level 8, 100 Credits:
  • Fundamentals of Risk Management, 20 Credits.
  • Business Ethics and Corporate Governance, 15 Credits.
  • Risk Management Integration, 20 Credits.
  • Risk Management Techniques, 20 Credits.
  • Risk Management Analysis and Interpretation, 25 Credits.

    Elective Modules, Level 8, 20 Credits (Select one module)
  • Bank Risk Management, 20 Credits.
  • Disaster Risk Management, 20 Credits.
  • Financial Risk Management, 20 Credits.
  • Public Sector/Non-Profit Risk Management, 20 Credits.
  • Compliance Risk Management, 20 Credits. 
    		•

    EXIT LEVEL OUTCOMES 
    1. Evaluate the role of risk management in organisations and society.
    2. Facilitate objectives-based risk-informed decision making within an organization, using an excellent understanding of the business and its environment as well as sound business ethics and corporate governance principles.
    3. Develop risk management objectives that are embedded in an organisation's strategies and can add value to operational planning.
    4. Manage the downside and upside risks in an enterprise to minimise disruptions to a business.
    5. Critique the risk assessment in terms of ethical based decision-making. 

    ASSOCIATED ASSESSMENT CRITERIA 
    Associated Assessment Criteria for Exit Level Outcome 1:
  • Critically evaluate risk management and what it means to identify and/or implement a specific risk management culture.
  • Apply risk management principles, frameworks and processes.
  • Develop a risk management framework.
  • Assess the processes and techniques of risk management.
  • Apply risk management principles, frameworks and processes to a context.
  • Critique technology in the context of risk management - as a disruptive force as well as an enabler of processes.
  • Explore governance, regulation and compliance (GRC) to be able to apply certain requirements in a specific industry.

    Associated Assessment Criteria for Exit Level Outcome 2:
  • Integrate risk-based decision making into an organisation's governance, planning, management, reporting, policies, values and culture.
  • Apply organisational risk integration principles and achieve strategic integration.
  • Contribute to achieving organisational resilience by managing business disruptions.
  • Apply corporate governance principles to risk-based decision-making.
  • Analyse key decisions using stress-testing to identify pain points and potential showstoppers.

    Associated Assessment Criteria for Exit Level Outcome 3:
  • Communicate and consult in different organisational risk management contexts.
  • Ensure that the risk management processes in a specific organisation are followed, including identifying, analysing, evaluating, treating, monitoring, reviewing, recording, and reporting on risks.
  • Consider new technological developments and management techniques.
  • Manage the balance between due diligence and timeously seizing opportunities.
  • Transform risk management from a required process into an integrated, necessary function that adds value.
  • Develop business partnerships that enhance business performance, sustainability, and resilience.
  • Apply the generally accepted compliance practice framework to a case study.
  • Evaluate a compliance risk management framework and plan, and incorporate new developments into the existing framework and plan.

    Associated Assessment Criteria for Exit Level Outcome 4:
  • Analyse an existing risk management strategy and implementation.
  • Critically evaluate whether the business was able to mitigate downside risk and tap into upside risk suitably.
  • Critically evaluate whether risk-based decision-making took place.
  • Recommend continuous monitoring and improvements to the existing strategy.
  • Predict future risks within an acceptable margin or error/confidence.
  • Create risk strategies based on an analysis of past, present, and future data.
  • Formulate mechanisms to cope with disruptive scenarios.

    Associated Assessment Criteria for Exit Level Outcome 5:
  • Analyse and apply moral philosophy as the foundation of ethics.
  • Evaluate and apply ethical principles and values concerning effective decision-making.
  • Synthesise ethical leadership requirements with corporate governance.
  • Apply the term 'governance' in different spheres.
  • Apply governance requirements in the corporate environment.
  • Evaluate governance requirements in terms of voluntary and regulatory approaches.
  • Integrate the requirements of effective leadership with corporate governance.
  • Critically evaluate the ethical dilemmas of compliance risk management and address the negative consequences of improper compliance risk management. 
    		•

    INTERNATIONAL COMPARABILITY 
    International comparability research shows that most of the risk management qualifications are offered by industry associations. The Institute of Risk Management in the United Kingdom offers an International Certificate followed by an International Diploma in Enterprise Risk Management, which leads to the designation called Certified Risk Professional and includes an overview of the main risk management topics. In Asia (India), the Global Risk Management Institute offers a Postgraduate Diploma in Risk Management that covers many topics in quite a lot of depth. In the United States, research has shown that most qualifications are either at the undergraduate or Masters level. Several institutions in delivering various qualifications, including online certificates, also follow the ISO 31000 Risk management - Guidelines, which provide principles, as well as a framework and a process for managing risk.

    Country: United Kingdom
    Institution: Institute of Risk Management
    Qualification Title: International Diploma in Enterprise Risk Management
    Number of Credits: n/a (18 months to 3 years)
    Content covered:
  • Principles of Risk and Risk Management
  • Practice of Risk Management
  • Risk Assessment
  • Risk Treatment
  • Risk Governance and Culture
  • Crises, Resilience and Future Risks
    Similarities:
    Both qualifications:
  • Explore Risk Management in terms of its integration into every element of society.
  • Are best suited to individuals with experience in the industry.
  • Put a strong focus on informed decision-making, with a practical element embedded in both qualifications to ensure that learners can apply this skill within a context.
  • Look at the role of technology in risk management.
    Differences:
  • This qualification has four compulsory modules, whereas the South African qualification has five compulsory modules and an elective, for learners to choose an area of interest to specialise.
  • This qualification is at Masters level NQF 9, and the South African qualification is at NQF8.

    Country: India
    Institution: Global Risk Management Institute
    Qualification Title: Postgraduate Diploma in Risk Management
    Number of Credits: 120 credits hours
    Content covered:
  • Business Value Chain and Operating models
  • Process Mapping, Enhancement and Value Stream Mapping
  • Process Assurance and Operating Efficiency
  • Concepts of Enterprise Risk Management ('ERM')
  • Organisational Behavior
  • Strategic Thinking
  • Sectorial View of ERM
  • Internal Controls over Financial Reporting
  • IT General Controls
  • Applied Cyber Security
  • Applied Data Analytics
  • Fundamentals of HRM
  • Market, Credit & Operational Risk
  • Regulatory & Compliance Risks
  • Digitalisation - Evolving Risk Management
    Similarities:
    Both qualifications look at:
  • Aligning the implementation of risk strategies for broader organisational goals and strategies.
  • The impact of technology on organisations and using risk management strategies to mitigate these risks, while at the same time embracing technology to assist with the process of managing risk.
    Differences:
  • This qualification focuses on various facets of an organisation concerning risk management and the scope is broader than the South African qualification, which has a more specialised focus. 
    		•

    ARTICULATION OPTIONS 
    This qualification allows possibilities for both vertical and horizontal articulation.

    Horizontal Articulation:
  • Postgraduate Diploma in Business Administration, NQF Level 8.
  • Postgraduate Diploma in Banking, NQF Level 8.
  • Postgraduate Diploma in Corporate Governance, NQF Level 8.
  • Bachelor of Business Administration Honours, NQF Level 8.

    Vertical Articulation:
  • Master of Business Administration, NQF Level 9.
  • Master of Commerce in Applied Risk Management, NQF Level 9.
  • Master of Disaster Management, NQF Level 9. 
    		•

    MODERATION OPTIONS 
    N/A 

    CRITERIA FOR THE REGISTRATION OF ASSESSORS 
    N/A 

    NOTES 
    N/A 

    LEARNING PROGRAMMES RECORDED AGAINST THIS 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.
     
    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.