Notice
As part of Phase 3 of our return to campus plan, most units will now run tutorials, seminars and other small group learning activities on campus for the second half-year, while keeping an online version available for those students unable to return or those who choose to continue their studies online.
To check the availability of face to face activities for your unit, please go to timetable viewer. To check detailed information on unit assessments visit your unit's iLearn space or consult your unit convenor.
Unit convenor and teaching staff |
Unit convenor and teaching staff
John-Paul Monck
Contact via Email
Angela Chow
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Credit points |
Credit points
10
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Prerequisites |
Prerequisites
(AFCP801 or AFCP8001) or (ECFS865 and (ECFS867 or AFCP8004))
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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.
Information - Extension Requests / Penalties
Participation (10%)
Students who do not attend receive a mark of zero. This penalty does not apply in cases where an application for Special Consideration has been made and approved.
Further information on submitting an Application for Special Consideration can be found at https://students.mq.edu.au/study/my-study-program/special-consideration.
Online Quizzes (20%)
You are expected to make yourself available for assessment during the relevant quiz window.
Students who do not submit this task by the due date and time receive a result of zero. This penalty does not apply when an application for Special Consideration has been made and approved.
Students who do not attempt the quiz receive a mark of zero. This penalty does not apply in cases where an application for Special Consideration has been made and approved.
Further information on submitting an Application for Special Consideration can be found at https://students.mq.edu.au/study/my-study-program/special-consideration.
Assignment (30%)
No extensions will be granted. There will be a deduction of 10% of the total available marks made from the total awarded mark for each 24 hour period or part thereof that the submission is late (for example, 25 hours late in submission incurs a 20% penalty). This penalty does not apply for cases in which an application for Special Consideration is made and approved.
Late submissions will be accepted up to 96 hours after the due date and time.
Further information on submitting an Application for Special Consideration can be found at https://students.mq.edu.au/study/my-study-program/special-consideration.
Final Exam (40%)
You are expected to present yourself for examination at the time and place designated in the relevant MAFC Timetable at https://www.mq.edu.au/about/about-the-university/faculties-and-departments/business/study-with-us/macquarie-applied-finance-centre/timetables.
Deferral of an examination is not permitted unless an application for Special Consideration is made and approved.
Students who do not attend receive a mark of zero. This penalty does not apply in cases where an application for Special Consideration has been made and approved.
Further information on submitting an Application for Special Consideration can be found at https://students.mq.edu.au/study/my-study-program/special-consideration.
Name | Weighting | Hurdle | Due |
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Participation | 10% | No | In iLearn |
Online Quizzes | 20% | No | In iLearn |
Assignment | 30% | No | In iLearn |
Final Exam | 40% | Yes | Refer to timetable |
Assessment Type 1: Participatory task
Indicative Time on Task 2: 10.00 hours
Due: In iLearn
Weighting: 10%
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. Generally, students will have a window of at least one week to make a contribution.
Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 20.00 hours
Due: In iLearn
Weighting: 20%
Online quizzes will be scheduled throughout the unit. Students can complete the quiz any time before the closing date/time and the duration is 30-60 minutes.
Assessment Type 1: Case study/analysis
Indicative Time on Task 2: 40.00 hours
Due: In iLearn
Weighting: 30%
An individual assignment of up to 4,000 words
Assessment Type 1: Examination
Indicative Time on Task 2: 20.00 hours
Due: Refer to timetable
Weighting: 40%
This is a hurdle assessment task (see assessment policy for more information on hurdle assessment tasks)
An individual closed book hurdle assessment that is 2 hours and 10 minutes.
1 If you need help with your assignment, please contact:
2 Indicative time-on-task is an estimate of the time required for completion of the assessment task and is subject to individual variation
Online Activities: Under the ‘flipped classroom’ model, some learning activities will take place independently and online (using iLearn).
Timetable: Detailed timetable for classes are available at https://www.mq.edu.au/about/about-the-university/faculties-and-departments/business/study-with-us/macquarie-applied-finance-centre/timetables
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).
REQUIRED AND RECOMMENDED TEXTS AND/OR MATERIALS
Text:
Additional Readings:
Lecture Notes: Available 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.
TECHNOLOGY USED AND REQUIRED
Unit iLearn Site:
Important:
1. A RISK MANAGEMENT FRAMEWORK
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.
2. RISK AND THE BALANCE SHEET
References: Crouhy, Galai and Marks Chapters 3, 8 and 17.
Topics:
3. ANALYSING MARKET RISK
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.
5. CREDIT RISK
References: Crouhy, Galai and Marks Chapters 9, 10.
Topics:
6. OPERATIONAL RISK
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:
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
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 help you improve your marks and take control of your study.
The Library provides online and face to face support to help you find and use relevant information resources.
Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.
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.