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CPPDSM4015B Minimise Agency And Consumer Risk

tag 0 Download 5 Pages / 1,108 Words tag 13-11-2020

Part A — Risk analysis

Carry out a risk analysis for your chosen department. Your analysis must include:

  1. Identification of potential risks, both to the agency and to clients. You must include in your response:
  • Client risks
  • Agency risks

Note: This unit requires you to identify both agent AND consumer risks, so ensure there is a spread of both.

  1. The causes of each risk you identified in ‘1’?

      Note: Check that each risk identified has a cause associated with it.

  1. The sources you would use to locate information about each of these risks.

Note: Check that for each risk, you have identified at least one source of information you could use to find out more information about the risk.

  1. The impacts of each identified risk on the agency, client, or other stakeholders?

Note: You must indicate that you have considered impacts not just on agent but also on consumer and other stakeholders, e.g. if agent risk relates to a rental property the agency manages, the landlord as the client is impacted, but also the tenant is a stakeholder.

  1. A risk rating - rate each risk according to the risk rating grid in your workbook (i.e. consequences, likelihood and severity of risks).
  2. Categorise these identified risks and set priorities for managing these risks moving forwards. 

Below is an example of the type of information which may be included in your risk analysis. This is an example only and the question requires that you identify as many risks as possible for the agency and the client.

Identified risk: Risk to personal safety of agency staff when completing open for inspections.

Cause of risk: Attack from aggressive client or unknown person who attends property, agent is alone in a remote location.

Source of information about risk: Industry association, Workcover web site.

Impact of risk on agency, client or other stakeholders: Staff may be unable to work due to physical injury, psychological stress etc. 

You may like to use a template similar to this below:

Priority to treat risk

Risk rating

Potential impacts of risk

Sources of information
about risk

Causes of risk

Identified risk

Part B — Establish systems to minimise risks

1. For each of the risks you have identified in Part A, indicate:

  • The options for minimising each risk identified.
  • The legislative requirements which need to be considered when suggesting options to minimise each risk. Note: Be sure to refer to legislation including any relevant state/territory specific legislation.
  • The agency policies and procedures which will need to be implemented for each risk.

2. What ongoing monitoring and reporting systems would you need to establish to minimise risks to the agency, clients and other stakeholders?

3. Describe an appropriate agency complaint handling procedure that you could implement to minimise risks to both the agency and clients.  Include in your response, any specific state or territory requirements for your state or territory in relation to complaint handling procedures.

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