The art of risk management in 2022

The art of risk management in 2022

Introduction

We are always taught to save a certain amount every month to deal with unforeseen situations like health ailments, unfortunate incidents, or job loss. Similarly, banks, corporates, and other organizations need a plan to prepare them to deal with the situation arising due to the volatile market. Here comes the need for a professional risk management expert who can help organizations prepare in advance.

With changing times, several new courses have been introduced, and risk management is one of them. A professionally trained risk management expert is a person who can assess the rapidly changing and volatile market, identify the probable risks, and control threats to an organization’s capital and earnings. 

Risk management

• The process of risk management helps organizations predict emerging threats, understand the implications, and devise a strategy to avoid or minimize their repercussions.
• Risk management emerged as a new area of knowledge more than two decades ago, causing profound changes worldwide. It has become essential in today’s volatile economy. 
• Financial risk management is one of the most sought-after skillsets to have not only for the financial services industry but for other sectors as well. Having knowledge of risk management increases your chances of earning well.
• Fuelled by the complexity of financial products, increased regulation, and recent notable failures, the risk management profession has seen considerable growth over the past 15 years. 
• Risk management is not an easy job: it needs specialized skills and expertise.

Job opportunities

• Like other careers, having an advanced degree and certification in risk management escalates your chances to have a sound career opportunity in the financial risk management sector.
• Candidates with a professional degree in financial risk management (FRM) can hope to have promising job opportunities as chief risk officer, senior risk analyst, head of operational risk, and director, investment risk management, to name a few.
• FRM training is essential for you if you plan to get into risk management.

Need for risk management experts

• Primarily, risk management has been associated with the banking, finance, and insurance sector (BFI). 
• However, the global COVID-19 pandemic, the financial crisis, and the failures of several corporates have called for the need to have risk management experts in almost every sector who can evaluate and address potential risks across the enterprise, rather than in just the financial parts of the company. 
• This has opened doors to various job opportunities for graduates with a professional degree in risk management.

Risk Management in Banking

• It is difficult for anyone to predict or sense future challenges in any sector. Banking, in particular, has a cascading impact across industries. 
• Thus, the requirement for risk management is inevitable for the banking sector compared to other sectors. 
• With the expertise of risk management professionals, banks can initiate some initiatives now to deliver short-term results while preparing for the coming changes. 
• By preparing in advance, banks will be able to avoid risk functions created by unforeseen situations.

Risk Management courses

• Given the rising demand for experts in various industries, several institutions, including Edtech platforms such as Imarticus Learning, a technology-driven educational institute, have started offering professional courses in risk management.
• The availability of courses in online mode offers an opportunity for people from anywhere to opt for this course at their convenience. 
• Undergraduate and postgraduate students can simultaneously pursue such courses. It helps them save time and get into the professional world. 
• Working professionals can also opt for risk management to improve their employability in various capacities depending on their skillsets.

Investment banking course with placement

In addition to risk management, Imarticus Learning also offers Certified Investment Banking Operations Professional (CIBOP). The duration of the course is 180 hours and equips you with the skillsets required to begin a career in investment banking operations, treasury, and clearing services. Placement is also taken care of by the institute.