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.
Upon successful completion, students will have the knowledge and skills to:
- Describe in detail the properties and limitations of common risk measures.
- Explain how models can be used in the ERM decision-making process.
- Demonstrate an understanding of, and be able to explain the different quantitative techniques for modelling and measuring risk including risk aggregation methods, statistical distributions, copulas, time series techniques, and extreme value theory.
- Recommend and communicate appropriate models for risk assessment based on quantitative and qualitative analysis.
- Assess and explain the different types of risk within an organisation including: market risk, credit risk, operational and other risks.
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.
- Typical assessment may include, but is not restricted to: exams, assignments, quizzes, presentations and other assessment as appropriate (100) [LO 1,2,3,4,5]
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.
Students are expected to commit 130 hours of work in completing this course. This includes time spent in scheduled classes and self-directed study time.
Requisite and Incompatibility
Information about the prescribed textbook will be available via the Class Summary.
Tuition fees are for the academic year indicated at the top of the page.
Commonwealth Support (CSP) Students
If you 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). More information about your student contribution amount for each course at Fees.
- Student Contribution Band:
- Unit value:
- 6 units
If you are a domestic graduate coursework student with a Domestic Tuition Fee (DTF) place or international student you will be required to pay course tuition fees (see below). Course tuition fees are indexed annually. Further information for domestic and international students about tuition and other fees can be found at Fees.
Where there is a unit range displayed for this course, not all unit options below may be available.