Corporate Risk Management
Run by Bangor Business School
10 Credits or 5 ECTS Credits
Organiser: Dr David Ayling
Overall aims and purpose
To examine the identification, measurement, control and financing of pure risks in business organisations.
The nature of risk management; Risk identification; The firm's loss exposure; Risk measurement and probability distributions; Risk control tools; Risk financing; Insurance and the alternatives; Legal aspects of insurance and insurance contracts; Dealing with insurers.
thresholdBasic understanding of key concepts and techniques.
goodBroad and sound understanding of key concepts and techniques.
excellentCreative understanding of concepts and techniques.
- Integrate knowledge across finance, accounting, marketing and management towards improved risk management decisions.
- Understand risk control and risk financing techniques.
- Understand the uses and limitations of probability concepts and statistics for making risk management decisions.
- Understand the uses and limitations of insurance as a risk management device.
- Understand the nature of alternative risk management strategies.
- Understand how to deal with pure risk effectively.
|Exam S1 2hrs||75|
Teaching and Learning Strategy
One 2-hour lecture per week.
- Literacy - Proficiency in reading and writing through a variety of media
- Numeracy - Proficiency in using numbers at appropriate levels of accuracy
- Self-Management - Able to work unsupervised in an efficient, punctual and structured manner. To examine the outcomes of tasks and events, and judge levels of quality and importance
- Exploring - Able to investigate, research and consider alternatives
- Information retrieval - Able to access different and multiple sources of information
- Critical analysis & Problem Solving - Able to deconstruct and analyse problems or complex situations. To find solutions to problems through analyses and exploration of all possibilities using appropriate methods, rescources and creativity.
- Argument - Able to put forward, debate and justify an opinion or a course of action, with an individual or in a wider group setting
Subject specific skills
- Abstraction. From the study of economic principles and models, students see how one can abstract the essential features of complex systems and provide a useable framework for evaluation and assessment of the effects of policy or other exogenous events. Through this, the typical student will acquire proficiency in how to simplify while still retaining relevance. This is an approach that they can then apply in other contexts, thereby becoming more effective problem-solvers and decision-makers.
- Framing. Through the study of economics, a student should learn how to decide what should be taken as given or fixed for the purposes of setting up and solving a problem, i.e. what the important 'parameters' are in constraining the solution to the problem. Learning to think about how and why these parameters might change encourages a student to place the economic problem in its broader social and political context. This 'framing' skill is important in determining the decision-maker's ability to implement the solutions to problems.
- An understanding of the financing arrangements and governance structures of business entities, and an appreciation of how theory and evidence can be combined to assess the effectiveness and efficiency of such arrangements (e.g. decisions as to sources of finance and financial structure; the pricing of corporate securities; the market for corporate control; corporate governance structures and mechanisms; financial planning and international dimensions of finance).
- Problem solving and critical analysis: analysing facts and circumstances to determine the cause of a problem and identifying and selecting appropriate solutions.
- Numeracy: the use of quantitative skills to manipulate data, evaluate, estimate and model business problems, functions and phenomena.
- Articulating and effectively explaining information.
- Conceptual and critical thinking, analysis, synthesis and evaluation.
- Self-management: a readiness to accept responsibility and flexibility, to be resilient, self-starting and appropriately assertive, to plan, organise and manage time.
Pre- and Co-requisite Modules
Courses including this module
Optional in courses:
- NN45: BA Accounting and Banking year 3 (BA/AB)
- NQ26: BA Astudiaethau Busnes a Chymraeg year 3 (BA/ABCH)
- NN36: BA Accounting and Banking with International Experience year 4 (BA/ABIE)
- NN72: BA Administration and Management year 3 (BA/ADMGT)
- N400: BA Accounting and Finance year 3 (BA/AF)
- N401: BA Accounting & Finance (with International Experience) year 4 (BA/AFIE)
- NR43: BA Accounting/Italian year 4 (BA/AIT)
- NR44: BA Accounting/Spanish year 4 (BA/ASP)
- NG10: BA Business and Computer Information Systems year 3 (BA/BCIS)
- L114: BA Business Economics year 3 (BA/BE)
- L115: BA Business Economics (with International Experience) year 4 (BA/BEIE)
- N322: BA Banking and Finance year 3 (BA/BIF)
- NR33: BA Banking/Italian year 4 (BA/BIT)
- NN13: BA Business Studies and Finance year 3 (BA/BSF)
- NN14: BA Business Stud & Finance (with International Experience) year 4 (BA/BSFIE)
- N1R1: BA Bus Stud with French year 3 (BA/BSFR)
- N1R2: BA Business Studies with German year 3 (BA/BSGER)
- N1R3: BA Business Studies with Italian year 3 (BA/BSIT)
- NN15: BA Business Studies and Marketing year 3 (BA/BSM)
- NR34: BA Banking/Spanish year 4 (BA/BSP)
- N1R4: BA Business Studies with Spanish year 3 (BA/BSSP)
- NM11: BA Business and Law year 3 (BA/BUSALAW)
- N100: BA Business Studies year 3 (BA/BUSS)
- NR1C: BA Business Studies/French year 4 (BA/BUSSF)
- NR1F: BA Business Studies and German year 4 (BA/BUSSG)
- NR1H: BA Business Studies and Italian year 4 (BA/BUSSI)
- N102: BA Business Studies (with International Experience) year 4 (BA/BUSSIE)
- NR1K: BA Business Studies and Spanish year 4 (BA/BUSSS)
- LN14: BA Economics/Accounting year 3 (BA/ECA)
- LN15: BA Accounting & Economics (with International Experience) year 4 (BA/ECAIE)
- L1T1: BA Economics and Chinese year 4 (BA/ECCH)
- LR13: BA Economics/Italian year 4 (BA/ECIT)
- LL13: BA Sociology/Economics year 3 (BA/ECS)
- LR14: BA Economics/Spanish year 4 (BA/ECSP)
- NR41: BA French/Accounting year 4 (BA/FRA)
- NR31: BA French/Banking year 4 (BA/FRB)
- LR11: BA French/Economics year 4 (BA/FREC)
- NR42: BA German/Accounting year 4 (BA/GA)
- NR32: BA German/Banking year 4 (BA/GB)
- LR12: BA German/Economics year 4 (BA/GEC)
- LV11: BA History/Economics year 3 (BA/HEC)
- N2N4: BA Management with Accounting year 3 (BA/MAF)
- N500: BA Marketing year 3 (BA/MK)
- N5R3: BA Marketing with Italian year 4 (BA/MKITAL)
- N5R1: BA Marketing with French year 4 (BA/MKTFR)
- N5R2: BA Marketing with German year 4 (BA/MKTGER)
- N5R4: BA Marketing with Spanish year 4 (BA/MKTSP#)
- LL14: BA Social Policy/Economics year 3 (BA/SPEC)
- NN44: BSc Accounting and Banking with International Experience year 4 (BSC/ABIE)
- NN43: BSc Accounting and Banking year 3 (BSC/ACCB)
- NL41: BSc Accounting and Economics year 3 (BSC/ACCEC)
- NN4H: BSc Accounting and Finance year 3 (BSC/ACCFIN)
- N402: BSc Accounting & Finance (with International Experience) year 4 (BSC/ACCFINIE)
- NL42: BSc Accounting and Economics with International Experience year 4 (BSC/AEIE)
- L190: BSc Business Economics year 3 (BSC/BEC)
- N391: BSc Banking and Finance year 3 (BSC/BFIN)
- N101: BSc Business Studies year 3 (BSC/BS)
- NN1H: BSc Business Studies and Finance year 3 (BSC/BSFIN)
- NNM1: BSc Business Studies & Marketing with Intl Experience year 4 (BSC/BSMIE)
- NN1M: BSc Business Studies and Marketing year 3 (BSC/BSMKT)
- L111: BSc Financial Economics year 3 (BSC/FINEC)
- N501: BSc Marketing year 3 (BSC/MKT)
- N2NK: BSc Management with Accounting year 3 (BSC/MWACC)
- N2NH: BSc Management with Banking & Fin year 3 (BSC/MWBF)