3153 - Master of Risk Management

This course recognises the fundamental importance of the management of risk in today's commercial world and seeks to provide graduates with extended skills in core areas. The course will prepare students for the increasingly complex risk management issues that they will face when employed in many areas of business and in government agencies. It also provides education in the area of the management of risk and related topics appropriate for practitioners seeking to meet professional education requirements or to update their knowledge in specific risk management areas. It is also suitable for people working in other business, financial planning or investment areas who regularly deal with risk management issues.

The learning goals associated with this course are to:

• satisfy the educational requirements for membership of the Risk Management Institution of Australasia Limited
• develop the ability to identify problems, to synthesise, analyse, summarise and classify data and qualitative information, to evaluate and weigh evidence, arguments and ethics, to apply specialist skills and knowledge to global business issues
• and to work out solutions to real world business cases and problems
• develop the ability to locate, evaluate and reference needed data and qualitative information stored electronically and physically and to use state-of-the-art technology to produce high quality, persuasive and appropriate spoken and written presentations
• develop the ability to work independently and to lead and participate in teams from diverse cultural and social backgrounds
• develop knowledge of the risk management profession and the need to pursue life-long learning to be an effective leader and provide service to local, national and international communities.

This course comprises eight compulsory units and four electives.

(a.) Students must complete eight compulsory units (48 points):

• AFF5011 Issues in risk management
• AFF5021 Case studies in risk management
• AFF5031 Principles of risk transfer
• AFF9020 Introduction to risk principles
• AFF9770 Risk financing and treasury management
• BTX5031 Insurance law
• BTX9760 Risk control and the law
• ETX9520 Quantitative methods for risk analysis

(b.) students must complete a further four graduate units (24 points) subject to the following condition:

• a maximum of four elective units (24 points) may be taken from other faculties.

It is recommended that students consult with the course coordinator to ensure their elective units form a coherent study program.

Details of educational requirements for professional recognition can be found at http://www.monash.edu.au/pubs/handbooks/postgrad/bus-06.html

Students wishing to exit the Master of Risk Management early may apply to graduate with one of the following, provided they have satisfied the requirements for that award:

• Graduate Certificate in Business after successful completion of 24 points of study
• Graduate Diploma in Risk Management after successful completion of 48 points of study.

Master of Risk Management