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Overview

Price

R 16,200

Language

English

Duration

10 weeks

Effort

7–10 hours per week

Effective risk management has become increasingly important in the world of business, especially in the wake of the COVID-19 pandemic. Businesses now face many risks, both new and longstanding, and robust risk assessment and management are essential for long-term survival.

The University of Cape Town (UCT) Business Risk Management online short course, endorsed by the Institute of Risk Management South Africa and UCT’s African Institute of Financial Markets and Risk Management, offers a 10-week deep dive into this critical field.

This course is tailored for business owners, stakeholders, and managerial professionals involved in compliance, legalities, and overall business processes. Anyone wanting to navigate the complexities of risk management, enhance their risk response strategies, and earn recognition for their expertise will benefit from this course.

In this risk management course from UCT, students will gain practical insights into managing different types of risk. The course empowers students to create a personalised risk register, a strategic document that can be presented to boards or used internally for informed decision-making.

Guided by UCT faculty and subject matter experts, students will explore suitable risk management frameworks, understand corporate governance nuances, and learn to identify and mitigate potential risks tailored to your organisation’s unique culture. Ongoing assessments are integrated into the course to help students stay on track with their learning and ensure that the knowledge they acquire is up to date.

Whether looking to confidently conduct risk assessments, build robust risk registers, or simply enhance expertise in business risk management, this course equips students with the tools and theory needed to navigate the complexities of the modern business landscape.

What you'll learn

Acquire valuable and relevant project management skills, and walk away with:

  • The skills to develop a comprehensive risk register, evaluate project viability, and utilise reporting tools to craft insightful risk reports for the business
  • The knowledge to use the Risk Assessment Matrix to analyse potential risks, considering both qualitative and quantitative factors, providing a nuanced understanding of scope and severity
  • The tools to foster a strong risk culture within an organisation by communicating the significance of regulations for achieving compliance and advocating for sustainable, ethical business practices
  • A certificate of completion from UCT and unlimited access to edX’s Career Engagement Network to support your professional journey and drive your career forward

 

Modules

ORIENTATION MODULE Welcome to your Online Campus
Meet and engage with your learning and peer networks as you navigate the Online Campus.

MODULE 1 The concept of risk
Learn the history behind the field of risk management.

MODULE 2 Risk management frameworks
Gain an understanding of the frameworks that govern the field.

MODULE 3 Corporate governance and enterprise risk management
Examine the responsibilities that are placed on organisations.

MODULE 4 Decisions and uncertainty: Quantitative
Discover how to make informed decisions during uncertain times.

MODULE 5 Decisions and uncertainty: Qualitative
Determine how to incorporate qualitative methods into your decision-making process.

MODULE 6 Risk identification
Learn how to identify the risks that threaten your objectives.

MODULE 7 Risk assessment
Discover how you can assess the impact and probability of your risks.

MODULE 8 Risk response
Investigate the crucial step of responding to your risks to protect your objectives.

MODULE 9 Organisational culture and ethical concerns
Examine healthy organisational culture and the incorporation of ethics into business.

MODULE 10 Risk reporting
Learn about the process of reporting your risks to the board.

FAQs: Risk management jobs

Risk management in business is the process of identifying, assessing, and mitigating potential risks that could impact an organisation's objectives and activities. The goal is to proactively manage uncertainties to minimise negative impacts and capitalise on opportunities. The key components of risk management in business include:

  • Risk identification
  • Risk mitigation
  • Risk monitoring
  • Risk communication
  • Compliance management
  • Crisis management
  • Strategic risk management
  • Technology and cybersecurity risk management
  • Supply chain risk management
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A risk manager plays a critical role in helping organisations navigate uncertainties and make informed decisions to enhance overall resilience and success. They are responsible for identifying, assessing, and managing risks within an organisation, safeguarding it from potential threats that could impact its objectives, operations, or financial stability.

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A risk manager’s job focuses primarily on safeguarding their organisation. They are required to recognise, evaluate, and manage risks within an organisation, ensuring its stability and long-term success. The key responsibilities and activities associated with the role of a risk manager include:

  • Identify and categorise potential risks that could impact the organisation. Risks may include financial, operational, strategic, compliance, reputational, and other types
  • Evaluate the likelihood and severity of identified risks. This involves analysing data, conducting risk assessments, and using various tools and methodologies to quantify and qualify risks
  • Develop strategies to manage and mitigate risks. This may involve implementing preventive measures, transferring risks through insurance, creating contingency plans, or recommending changes to business processes
  • Work with insurance providers to ensure the organisation has appropriate coverage for identified risks. This includes reviewing insurance policies, negotiating terms, and facilitating the claims process when necessary
  • Monitor and ensure compliance with relevant laws, regulations, and industry standards. Develop and implement policies and procedures to address compliance risks
  • Develop and implement crisis management plans to respond effectively during emergencies or unforeseen events. This includes coordinating communication efforts and leading response teams
  • Communicate risk-related information to key stakeholders, including senior management, board members, and employees. This involves presenting risk assessments, recommending risk management strategies, and providing updates on the risk landscape
  • Conduct training sessions to educate employees on risk management principles and practices. Promote a risk-aware culture within the organisation
  • Address risks related to technology and cybersecurity by implementing robust measures to protect the organisation's digital assets. This includes assessing vulnerabilities, implementing security protocols, and staying informed about cybersecurity threats
  • Regularly monitor and review the risk landscape to identify emerging risks and changes in existing risks. Stay informed about industry trends and regulatory developments that may impact the organisation
  • Align risk management activities with the organisation's strategic objectives. Provide insights on how risks may affect the achievement of long-term goals and contribute to strategic planning
  • Assess and manage risks associated with the organisation's supply chain, including disruptions, dependencies on key suppliers, and geopolitical factors
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A career in risk management typically involves a combination of education, relevant experience, and specific skills. The path to becoming a risk manager may vary, but the steps involved in becoming a risk manager include: 

  • Education: Obtaining education in a relevant field, such as finance, business, economics, risk management, accounting, mathematics, or statistics, may be useful in the process of becoming a risk manager
  • Relevant certifications: Professional certifications, such as the Certified Risk Manager (CRM), Financial Risk Manager (FRM), and Professional Risk Manager (PRM) can help you advance your career in risk management
  • Gain work experience: Build your experience by gaining experience in areas related to risk management. Entry-level finance, auditing, compliance, or insurance positions can provide a good foundation
  • Risk-related roles: Progress to jobs in risk management, such as risk analyst, compliance officer, or internal auditor. These roles will help you to develop practical skills in identifying, assessing, and mitigating risks
  • Stay informed: Risk management is a dynamic field, and staying updated on industry trends, regulatory changes, and emerging risks is essential
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