Postgraduate Diploma in Financial Management

Purpose

The primary purpose of the qualification is to provide a well-rounded focussed education that equips learners with the knowledge base, theory and methodology of finance, investments, banking and financial institutions management, as well as risk finance and insurance. This will enable the qualifying learner to demonstrate initiative and responsibility in an academic or professional context. Principles, theory and application are emphasised as a basis for promotion by the qualifying learner in their place of work, or professional training, for example in order to eventually be awarded the Chartered Financial Analyst (CFA) designation or to become an Associate of the Insurance Institute of South Africa (IISA).

Rationale

The rationale for the qualification is to provide in-depth, specialised education, training and scholarship in the field and practice of financial management at Postgraduate level. Financial Management has become increasingly important due to the greater financial risks businesses are exposed to, including dynamic, volatile local and global economic conditions, socio-political and increasingly complex legal contexts in which businesses have to operate. This qualification prepares learners for the African and global context. The qualification also prepares the qualifying learner for employment or to operate an own business.

Recognition of Prior Learning (RPL)

RPL will be applied in line with the regulations of the Quality Council for Higher Education and the RPL Policy and the procedures of the University of South Africa. The learners who do not meet the minimum requirements can gain access to the qualification through the Recognition of Prior Learning and credits will be granted where competency in a specific module is established by an assessor.

Entry Requirements

The minimum admission requirement is an undergraduate Degree or an equivalent qualification.

This qualification consists of five compulsory modules at NQF Level 8 totalling 120 Credits

• Advanced Financial Management, 24 Credits.
• International Financial Management, 24 Credits.
• Financial Institutions Management, 24 Credits.
• Risk Financing, 24 Credits.
• Investments: Portfolio Management, 24 Credits.

The qualifying learner should be able to

1. Demonstrate coherent and critical understanding founded on a comprehensive and systematic knowledge base of quantitative and qualitative methodologies in economic and management sciences, theory and paradigms in the specialised areas of financial management.
2. Think critically about theory and practice and demonstrate advanced scholarship in the various specialisation areas by critically and systematically reviewing knowledge and processes of knowledge production and interrogating multiple sources of knowledge in the various areas of financial management.
3. Use a range of specialised skills to identify, analyse and address complex, abstract and/or real-life problems, drawing systematically on their financial management knowledge, techniques and technologies of the various specialisation areas.
4. Apply their knowledge of and insight into the theory and practice of financial management to complex and/or real-life problems.
5. Use a range of specialised knowledge, skills, techniques and technologies and ethical standards relevant to financial management in budgeting.
6. Demonstrate capacity to manage and self-assess learning tasks autonomously, professionally, responsibly and ethically with due consideration of their continued academic growth and development.

Competence is achieved through continuous assessment by demonstrating the ability to master the outcomes of the qualification.

The following set of generic assessment criteria apply to the qualification as a whole

• Current research and multiple sources of scholarly or professional literature are reviewed, critiqued and evaluated in an intellectually independent manner and sound theoretical judgements are made by using well-reasoned, theory-driven and evidence-based arguments.
• Assessment of risks in an organisational context and other complex problems related to the areas of specialisation are accurately identified, critically reviewed and evaluated and interpreted by taking into consideration the economic, socio-political and legal contexts, including governance and ethics.
• Standard procedures, processes or techniques to theoretically deal with or empirically investigate unfamiliar complex, abstract or real-life world problems in a particular area of specialisation are appropriately applied.
• The analyses and interpretation of theoretical, quantitative and qualitative data and information are independently conducted and demonstrate coherent and critical insight by means of well-rounded, theory-driven and evidence-based arguments and critical self-reflection.
• Judgements and conclusions are based on information and data and are clearly communicated using the resources of an academic/professional discourse appropriately, reliably and accurately.
• Critical self-assessment reflects an awareness of taking responsibility for the learner's own activities, ethical behaviour and continued personal development in the field of financial management.
• Reasoning, viewpoints, insights and ideas reflect an acceptable social sensitivity in the learner's relationship and interaction with others and work in the scholarly, financial management and other managerial work environments.
• Ethical decisions which affect knowledge production or complex organisational or professional issues are made with social sensitivity and awareness of consequences in an autonomous manner.

Integrated Assessment

For the qualification to be awarded, a learner must have successfully achieved the outcomes of each of the compulsory modules that constitute the qualification.

Evidence of learning competency (knowledge, skills, attitudes and expertise) and of the candidate's ability to achieve the purpose of the qualification as a whole at the time that the qualification is awarded is required by means of comprehensive and integrated assessment (constituting a range of formative and summative assessments). Continuous formative and summative assessment methods are used in the form of written assignments and exams.

Formative and summative assessment will be conducted within the guidelines of the University Assessment Policy. The learner's summative assessment mark will comprise a year mark (10%) that will be gained from the specified number of compulsory assignments and a written examination in each module which comprises 90% of the total summative assessment mark. The pass mark shall be a minimum of 50% acquired from both continuous and summative assessment in a proportionate ratio; 75% shall constitute a pass with distinction.

Assessors should assess and give credit for evidence of learning that has already been acquired through formal, informal and non-formal learning and experience.

Lecturers responsible for the module and external markers (assessors) will act as assessor practitioners in accordance with the University Assessment Policy. Formative and summative assessment will be conducted within the guidelines of the University Assessment Policy. Learner support will be provided in accordance with University Open Distance and Learning and Learner Support policies and guidelines.