This course follows on from ACST8060 (Enterprise Risk Management 1) to develop expertise in several aspects of Enterprise Risk Management including a thorough understanding of
- quantitative risk modelling and risk aggregation tools and techniques
- different risk measures
- the use of models in the ERM decision-making process, and
- methods and techniques for assessing and evaluating market risk, credit risk, operational and other risks.
Learning Outcomes
Upon successful completion, students will have the knowledge and skills to:
Upon successful completion of the requirements for this course, students should have the kowledge and skills to:
1. Describe in detail the properties and limitations of common risk measures.
2. Explain how models can be used in the ERM decision-making process.
3. Demonstrate an understanding and be able to explain the different quantitative techniques for modelling and measuring risk including:
- Risk aggregation methods
- Statistical distributions
- Copulas
- Time series techniques
- Extreme value theory
4. Recommend and communicate appropriate models for risk assessment based on quantitative and qualitative analysis.
5. Assess and explain the different types of risk within an organisation including: market risk, credit risk, operational and other risks.
Other Information
This subject, in conjunction with ACST4060/ACST8060 provides the opportunity for exemption from Module 1 of the Part III academic requirements of the Actuaries Institute. Such exemption depends on the grades attained over both subjects.
Indicative Assessment
Typical assessment may include, but is not restricted to: a written assignment, a mid-semester exam and a final exam.
The ANU uses Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. While the use of Turnitin is not mandatory, the ANU highly recommends Turnitin is used by both teaching staff and students. For additional information regarding Turnitin please visit the ANU Online website.
Workload
Students are expected to commit at least 10 hours per week to completing the work in this course. This will include at least 3 contact hours per week and up to 7 hours of private study time.
Requisite and Incompatibility
Prescribed Texts
- Sweeting, P. 2011. Financial Enterprise Risk Management, Cambridge University Press.
- Actuarial Education Company (ActEd) ST9 Course Notes
Other readings will be made available via the course Wattle site.
Fees
Tuition fees are for the academic year indicated at the top of the page.
If you are a domestic graduate coursework or international student you will be required to pay tuition fees. Tuition fees are indexed annually. Further information for domestic and international students about tuition and other fees can be found at Fees.
- Student Contribution Band:
- 3
- Unit value:
- 6 units
If you are an undergraduate student and have been offered a Commonwealth supported place, your fees are set by the Australian Government for each course. At ANU 1 EFTSL is 48 units (normally 8 x 6-unit courses). You can find your student contribution amount for each course at Fees. Where there is a unit range displayed for this course, not all unit options below may be available.
| Units | EFTSL |
|---|---|
| 6.00 | 0.12500 |
Course fees
- Domestic fee paying students
| Year | Fee |
|---|---|
| 2019 | $4320 |
- International fee paying students
| Year | Fee |
|---|---|
| 2019 | $5700 |
Offerings, Dates and Class Summary Links
ANU utilises MyTimetable to enable students to view the timetable for their enrolled courses, browse, then self-allocate to small teaching activities / tutorials so they can better plan their time. Find out more on the Timetable webpage.
Class summaries, if available, can be accessed by clicking on the View link for the relevant class number.
Second Semester
| Class number | Class start date | Last day to enrol | Census date | Class end date | Mode Of Delivery | Class Summary |
|---|---|---|---|---|---|---|
| 8292 | 22 Jul 2019 | 29 Jul 2019 | 31 Aug 2019 | 25 Oct 2019 | In Person | View |
