Risk and Compliance
This subject allows students to develop and extend understanding of the concepts of management of risk and compliance in the context of good governance.
Learning outcomes
- Recognise, analyse and evaluate situations in the context of risk and compliance frameworks
- Compare and evaluate different approaches to risk and compliance management under different situations
- Evaluate and critically assess the standard of risk and compliance in a given situation and provide appropriate advice on risk management and compliance policies and procedures to those responsible for governance
- Analyse and advise on the impact of different legislative, policy and social changes within the business environment on risk and compliance standards and management
- Evaluate the impact of corporate conduct, behaviours and culture on risk and compliance management practices
Indicative content
The subject comprises the following 12 modules:
Module 1: Risk management framework
- Risk management framework
- Developing a risk culture
- Standards and guidelines
- Risk management tools
- Enterprise-wide risk management
- Audit and risk management
- Risk management reporting
- Insurance
- Types of insurance
Module 2: Compliance frameworks
- Regulatory requirements
- Standards and guidelines
- Key elements of an effective compliance management system
- Enterprise-wide compliance management
- Compliance risk assessment
- Disclosure and reporting obligations
- Tools and techniques
- Responsibilities of the board and management
Module 3: Business continuity management
- Business continuity management
- Developing a business continuity plan
- BCP reporting
- Managing business interruption
- Standards and guidelines
- Insurance and BCM
Module 4: Reputation risk
- Reputation — Source or outcome
- Key drivers of reputation risk
- Case studies
- Managing reputation risk
Module 5: Competition and Consumer Act compliance
- Competition and consumer protection framework
- The Competition and Consumer Act 2010
- The Australian Consumer Law
- ACCC’s investigatory and enforcement powers
- Competition and consumer compliance management
Module 6: Privacy compliance
- Privacy in Australia
- Australian Privacy Principles
- Privacy compliance
- Australian Information Commissioner
Module 7: Project risk
- Key project concepts
- The strategic role of projects
- Implementing project governance
Module 8: Environmental risk
- Environmental risk
- Environmental risk management
- Principles of environmental risk management
- Regulation
- Environmental risk and governance
- Environmental risk assessment
- Environmental performance reporting
- Environmental developments
Module 9: Employment law
- Overview of employment and regulation
- The employment contract
- Statutory regulation
Module 10: Work environment — Equal opportunity, health and safety
- Equal opportunity in employment
- Bullying
- Work health and safety
- Workers’ compensation
Module 11: Superannuation — The regulatory framework
- Superannuation funds
- Regulatory frameworks
- Regulation of investments
- Risk management and governance
- Employer obligations
- Case studies
Module 12: Case study and subject review
- Case study — ABC Energy
- Reflection
- Revision
Required texts
ISO 31000:2018 — Risk Management: Guidelines