Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor / Lecturer
Elizabeth Sheedy
Contact via Email
Sydney
Lecturer
Shane Magee
Contact via Email
Lecturer
Maxwell Morley
Contact via Email
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Credit points |
Credit points
4
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Prerequisites |
Prerequisites
(Admission to MAppFin or MAppFin(Adv) or GradDipAppFin) and (AFCP801 or (ECFS865 and ECFS867))
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Corequisites |
Corequisites
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Co-badged status |
Co-badged status
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Unit description |
Unit description
Financial Risk Management (FRM) is based on an enterprise risk management framework designed to increase the likelihood that an organisation will achieve its objectives. Unlike traditional, purely defensive approaches to risk, FRM’s philosophy focuses on how effective risk management adds value to the organisation. We consider methods for identifying, assessing and treating a variety of risks, with special focus on market, credit, funding liquidity and operational risks. The unit encompasses both quantitative skills and broader human and organisational issues. We encourage students to question the assumptions behind the models, to think about behavioural biases, to identify ethical issues, to consider incentives, and to think creatively of risk management solutions.
The lectures deliver theoretical and industry relevance by using a case study methodology. Lectures are complemented by online learning activities designed to promote student interaction, engagement, and understanding throughout the Unit. Assessable pre-course activities must be completed prior to the first class.
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Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
On successful completion of this unit, you will be able to:
To pass this unit the student needs to (1) Achieve an aggregate mark of 50 or more, and; (2) Pass the Final Exam.
Assessable pre-course activities are to be completed. Assessable pre-course activities (taking 4-8 hours) MUST be completed prior to the first class. Go to Topic 1 and complete all the Before Class Activities. Non-completion will result in zero marks for these assessments and, more importantly, reduce the quality of your learning experience.
Name | Weighting | Hurdle | Due |
---|---|---|---|
Assignment | 30% | No | Refer to iLearn |
Participation | 10% | No | In iLearn |
Online Quizzes | 20% | No | In iLearn |
Final Exam | 40% | Yes | Refer to Timetable |
Due: Refer to iLearn
Weighting: 30%
Summary of Assessment Task
Individual / Group: Individual.
Due Date: Refer to iLearn.
Grading Method: Refer to ‘Standards Required to Complete the Unit Satisfactorily’.
Submission Method: Via Turnitin on iLearn; students are required to use the cover sheet provided.
Extension Requests:
Other Information:
Due: In iLearn
Weighting: 10%
Summary of Assessment Task
Individual / Group: Individual.
Timing/Duration: Assessable online discussion forums and class discussions will occur throughout the unit, with some assessment completed prior to the first class i.e. the 'Before Class' activities in relation to Topic 1. Students will be notified of closing dates for assessable online discussion forums in class and via the News forum. Generally, students will have a window of at least one week to make a contribution.
Grading Method: Participation judged on quality and frequency. Good questions are highly valued.
Submission Method: Online via the unit's iLearn site and in class.
Extension Requests:
Due: In iLearn
Weighting: 20%
Summary of Assessment Task
Individual / Group: Individual.
Timing/Duration: Seven online quizzes will be scheduled throughout the unit with the first two quizzes to be completed before the first class (see 'Before Class' activities in relation to Topic 1). Students can complete the quiz any time before the closing date/time and the duration is 30-60 minutes.
Grading Method: Refer to ‘Standards Required to Complete the Unit Satisfactorily’.
Submission Method: Via iLearn.
Examination Conditions: Open book.
Extension Requests:
Due: Refer to Timetable
Weighting: 40%
This is a hurdle assessment task (see assessment policy for more information on hurdle assessment tasks)
Summary of Assessment Task
Individual / Group: Individual.
Due Date: Different Class Groups have different deadlines. Students should find the timetable and dates relevant to their group at www.mafc.mq.edu.au
Timing: Refer to Timetable.
Grading Method: Refer to ‘Standards Required to Complete the Unit Satisfactorily’.
Submission Method: As per MAFC Program Rules at www.mafc.mq.edu.au
Duration: 2 hours plus 10 minutes reading time.
Examination Conditions:
Extension Requests:
Face-to-Face Teaching: Generally 30 hours.
Online Activities: Under the ‘flipped classroom’ model, some learning activities will take place independently and online (using iLearn).
Timetable: Detailed timetable for classes are on the Centre’s website at www.mafc.mq.edu.au
Consultation Times: Students who wish to contact any of the teaching staff may do so through the unit’s iLearn forum in relation to general queries (so that all students may benefit).
Text:
Additional Readings:
Lecture Notes: Available in printed form and electronically via iLearn.
Useful References:
Calculators:
Laptop Computers:
Assumed Knowledge: Mathematics, Statistics and Economics content
Assumed Access: Access to a computer with word processing and spreadsheet capability is assumed, as is general student computer literacy.
Unit's iLearn Site:
Important Notice:
References: Shortreed ‘ERM Frameworks’, Chapter 7 in Fraser and Simkins (eds) Enterprise Risk Management Kolb Series in Finance, Wiley 2010.
Topics:
Pre-Class: Statistics Review, ERM Frameworks, Introductions, Bank Scandals.
References: Crouhy, Galai and Marks Chapters 3, 8 and 17.
Topics:
References: Crouhy, Galai and Marks Chapter 7.
Topics:
4. GOVERNANCE, ETHICS AND RISK
References: Crouhy, Galai and Marks Chapter 4.
Topics:
Pre-Class: Readings, videos, online quiz and assessable forums.
References: Crouhy, Galai and Marks Chapters 9, 10.
Topics:
References: Crouhy, Galai and Marks Chapter 14.
Topics:
Macquarie University policies and procedures are accessible from Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policy-central). Students should be aware of the following policies in particular with regard to Learning and Teaching:
Undergraduate students seeking more policy resources can visit the Student Policy Gateway (https://students.mq.edu.au/support/study/student-policy-gateway). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.
If you would like to see all the policies relevant to Learning and Teaching visit Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policy-central).
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/study/getting-started/student-conduct
Results published on platform other than eStudent, (eg. iLearn, Coursera etc.) or released directly by your Unit Convenor, are not confirmed as they are subject to final approval by the University. Once approved, final results will be sent to your student email address and will be made available in eStudent. For more information visit ask.mq.edu.au or if you are a Global MBA student contact globalmba.support@mq.edu.au
Students should also consult the MAFC Program Rules found at http://www.mafc.mq.edu.au
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to improve your marks and take control of your study.
For all student enquiries, please contact studentsupport@mafc.mq.edu.au
Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.
Learning Skills (www.students.mq.edu.au/support/learning_skills/) provides academic writing resources and study strategies to improve your marks and take control of your study.
For all student enquiries, visit Student Connect at ask.mq.edu.au
If you are a Global MBA student contact globalmba.support@mq.edu.au
For help with University computer systems and technology, visit http://www.mq.edu.au/about_us/offices_and_units/information_technology/help/.
When using the University's IT, you must adhere to the Acceptable Use of IT Resources Policy. The policy applies to all who connect to the MQ network including students.
Our postgraduates will be able to demonstrate a significantly enhanced depth and breadth of knowledge, scholarly understanding, and specific subject content knowledge in their chosen fields.
This graduate capability is supported by:
Our postgraduates will be capable of systematic enquiry; able to use research skills to create new knowledge that can be applied to real world issues, or contribute to a field of study or practice to enhance society. They will be capable of creative questioning, problem finding and problem solving.
This graduate capability is supported by:
Our postgraduates will be ethically aware and capable of confident transformative action in relation to their professional responsibilities and the wider community. They will have a sense of connectedness with others and country and have a sense of mutual obligation. They will be able to appreciate the impact of their professional roles for social justice and inclusion related to national and global issues
This graduate capability is supported by:
This Unit Guide may be subject to change. Students will be advised, via an "Announcement' on iLearn, if the Unit Guide is changed.
The latest version is available at https://unitguides.mq.edu.au/.
Students should read the Unit Guide carefully at the start of term. It contains important information about the unit. If anything is unclear, please consult one of the unit lecturers.
University Policy on Grading:
Specific Unit Grading:
Grade | Expectation |
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High Distinction | Provides consistent evidence of deep and critical understanding in relation to the learning outcomes. There is substantial originality and insight in identifying, generating and communicating competing arguments, perspectives or problem solving approaches; critical evaluation of problems, their solutions and their implications; creativity in application as appropriate to the discipline. |
Distinction | Provides evidence of integration and evaluation of critical ideas, principles and theories, distinctive insight and ability in applying relevant skills and concepts in relation to learning outcomes. There is demonstration of frequent originality in defining and analysing issues or problems and providing solutions; and the use of means of communication appropriate to the discipline and the audience. |
Credit | Provides evidence of learning that goes beyond replication of content knowledge or skills relevant to the learning outcomes. There is demonstration of substantial understanding of fundamental concepts in the field of study and the ability to apply these concepts in a variety of contexts; convincing argumentation with appropriate coherent justification; communication of ideas fluently and clearly in terms of the conventions of the discipline. |
Pass | Provides sufficient evidence of the achievement of learning outcomes. There is demonstration of understanding and application of fundamental concepts of the field of study; routine argumentation with acceptable justification; communication of information and ideas adequately in terms of the conventions of the discipline. The learning attainment is considered satisfactory or adequate or competent or capable in relation to the specified outcomes. |
Fail | Does not provide evidence of attainment of learning outcomes. There is missing or partial or superficial or faulty understanding and application of the fundamental concepts in the field of study; missing, undeveloped, inappropriate or confusing argumentation; incomplete, confusing or lacking communication of ideas in ways that give little attention to the conventions of the discipline. |
Fail Hurdle | Student has obtained a raw mark over 50, yet failed all available attempts of at least one hurdle assessment. |
Review of Grade and final examination Script viewing: