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

  1. Recognise, analyse and evaluate situations in the context of risk and compliance frameworks
  2. Compare and evaluate different approaches to risk and compliance management under different situations
  3. 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
  4. Analyse and advise on the impact of different legislative, policy and social changes within the business environment on risk and compliance standards and management
  5. 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


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