Risk Management Modules
The API produces a range of Risk Management Modules which are designed to assist our valuation members in gaining a full understanding of the risks they face as professionals. These modules are produced in conjunction with DLA Piper to ensure the accuracy of legal cases history and up to date risk mitigation procedures.
All API Members who undertake valuations of Australian property (intellectual, personal, real and leasehold property including plant and machinery) are required to hold a current Risk Management Module Completion Certificate from an API approved Risk Management Module. Risk Management Module Completion Certificates last for three years from 31 December in the year of completion.
A range of Modules have been developed with content specific to a number of key areas in which API Members practice. In all instances, the first Risk Management Module undertaken by a member must be Risk Management Module - Essentials.
Applicants for Provisional Membership with Residential Property Valuer and Associate Membership with Certified Practising Valuer must complete a Risk Management Module as part of the Future Property Professionals Program.
Risk Management Modules are available for any API Member or any member of the public to complete.
How many Risk Management Modules are available?
There are a number of Risk Management Modules available for completion:
- Risk Management Module - Essentials
This Risk Management Module sets out the essentials of risk management. This module is the starting point and therefore is compulsory for all Members who have not previously undertaken an API approved Risk Management Module.
- Risk Management Module - Volume Residential
This module covers the essentials of risk management but with a specific focus on issues for practitioners that spend most of their time dealing with short form valuations to lenders. It will cover issues around automated valuations, desktop valuations, short form valuations, the role of panel managers and data aggregators, retainer agreements with clients, common risk areas, relevant APRA regulations and issues relevant to the valuation profession.
- Risk Management Module - Commercial, Specialised and Determination Work
This module covers the essentials of risk management but with a specific focus on issues related to commercial mortgage and expert work. This module has been tailored for valuers dealing with assets above $3 million and includes examples relevant to premium residential, rental determinations, expert work, financial reporting and syndicated loans.
- Risk Management Module - Government
This module covers the essentials of risk management but with a focus on rating valuations, government municipal legislation, expert witness work and key cases. Targeted for valuers working in the public sector, firms advising private clients on rating matters and compulsory acquisition work.
- Risk Management Module - Plant & Machinery
This module covers the essentials of risk management but with a specific focus on issues facing plant & machinery valuers and their work.