Submitted by: Alexendra Dawas

In this age where finding a secured and promising job is a matter of great of concern, choosing a risk management field in financial industry as a career seems to be stable and reliable. However, for building a career in this field requires to pursue a risk management course. Read this article to elaborate your ideas about the basic requirements of pursuing this course.

In this ever-changing world, finance and banking industry are growing at a high pace. It has emerged as one of the fastest growing industries to provide better career options. Enterprises of different sizes and types want potential financial risk management professionals who can satisfy compliance demands, perform his duty adequately and are intelligent enough for taking instant decision and enhancing performance of the organization.

The reasons behind the increasing demand of risk management professionals are due to the growing need for risk management in corporate & financial institutions. Today, a well-educated and certified financial risk management professional has a lot of job opportunities. He can apply for jobs in commercial banks, investment banks, insurance companies, asset management firms, securities regulators, hedge funds, large corporations, multinationals and credit rating firms.

Responsibility of a Risk Management Professional

The key responsibilities of a risk management professional include discovering, identifying, analyzing and documenting risks associated with a company s operations. He needs to monitor the effectiveness of risk management procedure and implement required changes. He focuses on company-wide, operational, compliance, technology, financial and asset-related risks. The responsibility of a risk management professional includes the following –

Establishing and monitoring key risk indicators

Implementing adequate action plans to mitigate risks

Analyzing transactions, financial information and internal report to identify potential fraud risks

Preparing and maintaining reports of some possible risks and recommendations

Creating policies, procedures and control assessments after identifying potential risks

Evaluating the effectiveness of the firm’s internal control frameworks in addressing risks

Planning risk response plan to accomplish the organization’s business goal and objectives

Knowledge, Skills and Abilities Required for Becoming a Professional Risk Management Manage

If you want to become a risk management manger, you need to have complete knowledge of financial industry. You should conduct a self-assessment of your knowledge, skills and abilities. Employers offer jobs to those who have knowledge of risk assessment, risk management, internal controls, corporate governance, corporate compliance, information systems security etc. You should have interpersonal ability, leadership ability, analytical ability, written and communication ability, problems solving ability and quality of adaptability. On the other hand, you should have skills in a lot of areas, such as technical, judgment, decision-making and execution.

Risk Management Courses In India

Starting a career in risk management is not so easy. However, you can make it easier by pursuing risk management course from a reputed institution in India. Usually some top financial schools in India offer this course in two categories Market Risk and Credit and Operational Risk.

Market Risk This program under risk management has been designed to equip candidates with certain skills. It helps them measure and monitor market risks. This program covers the RBI norms associated with market risks. It enables learners by imparting proper knowledge to implement a good risk management system internally.

Credit and Operational Risk Applicants who pursue this program under key risk management are able to understand key risks under Basel norms Credit and Operational Risk. This program enables them to measure credit risk. The institution offers a separate course on how to measure and monitor operational risk in a bank or financial institution.

Thus, to become a risk management professional, first of all you should find a popular college or institution and apply for risk management course. With it, you will be able to start your career as a professional risk management manager in a bank or a financial institution.

About the Author: Alex is a leading content strategist for Finitiative Learning India Pvt. Ltd., a leading name in banking and finance certifications in India. Visit

learnwithflip.com/buy-now.html?category_id=2751&category=Risk-Management

Source:

isnare.com

Permanent Link:

isnare.com/?aid=1899041&ca=Finances