Risk Management Courses

Overview of Risk Management Courses

In this highly volatile world for businesses, the only thing certain is uncertainty. You never know what’s going to happen in the global or local economy and/or regional or international politics that might affect the financial and operational aspects of businesses. For instance, the outbreak of Covid-19 induced pandemic has been continuously throwing complex challenges to corporations from around the world. Moreover, other than the external hiccups, there are multiple internal factors within a company that infect a brand’s image and profitability. To avoid such stumbling blocks, companies espouse a range of strategies that help them dodge or reduce adverse impact caused by these mishappenings. Risk managers – professionals who are experts in the field are here for rescue. Today, they are high-in-demand owing to the volatile market conditions. Over the last few years, there has been a huge upward influx in the spendings by the corporates to strengthen their risk management teams.

Also Read: Basics of Financial Risk Management
 

What is a Risk Management Course?

Talentedge’s risk management courses are an amalgamation of theoretical and practical concepts of risk management. The programs intend to make the candidates acquainted with the big picture of various financial, operational, and analytical threats associated with the modern global market. Since these threats can arise from external as well as internal factors, the course curriculum is designed to put a detailed analysis of today’s business domain.

Familiarize yourself with ways to make businesses risk-free through proper analytical insights. Attend the risk management courses by Talentedge and put your first step towards becoming a successful risk manager.

Also Read: Impact of Financial Risks
 

Who are Risk Management Professionals?

The universally relevant concept of risk management is widely regarded as the mantra of success for an organization. The people who implement these concepts are known as risk management professionals, who deal with a variety of risks and threats faced by a  company. They play a central role in the overall management of the business, with wider involvement. The senior-level risk manager might have to be in regular contact with the local authorities in order to abide by the law of the land.

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Types of risks that a Risk Management Executive must know

Risks can affect a company in many ways. They can be divided into internal and external risks or systematic or unsystematic risks. Internal risks are those that arise from within the organization, such as monetary mismanagement, operational risks, etc. External risks are those that attack the company from outside, such as hazards, stock exchange crashes, etc. Within various segments, there are certain types of risks that a risk manager must know. You will study these topics in detail during Talentedge’s risk management courses.

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• Hazard Risk: Hazard risks occur when the company location is hit with natural calamities such as cyclones, floods, earthquakes, etc. Since nobody can control these mishaps, an organization can hardly be prepared against these threats.
• Operational risks: Operational risks arise when the internal mechanism of the company fails to operate as expected. For example, disruptions in the customer service process, if not sorted out soon, can take the form of major financial as well as brand reputation loss.
• Political risks: Political risks mainly involve a sudden change in policies. Companies from bigger economies and business-friendly countries such as the US, India, Europe, Japan, etc., hardly face this risk. This is because the political stance on businesses doesn’t change frequently.
• Inflationary risk: High inflation limits a company’s profitability. Sudden inflation hike dents the financial prospect of the company. In order to avoid inflationary risks, organizations invest in countries where inflation is low or the economy is stable.
• Market risk: The fate of many businesses hangs on the performance of stock exchanges. If the market crashes, companies face its consequences. Interest rate risk, currency fluctuation risk, etc., also come under market risk.
• Credit risk: Credit risk is the most popular form of risk. This arises when borrowers are unable to pay you back.

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Roles of a Risk Manager

The roles and responsibilities of a risk manager or risk management professional include a range of tasks and duties. Ensuring your complete development as a risk manager, the risk management course will focus particularly on strengthening your ability to perform these tasks. Let’s understand what will be your job profile when a company hires you as a risk manager point-wise:

• Identifying and analyzing any risk factors in the  organization
• Being in conjunction with senior management, you are expected to develop risk management strategies for the company
• Create and examine regular reports on the overall performance of the company, including expenditures, profits, hirings, etc.
• Designing policies for the minimization of potential risks and putting them into effect
• Presenting future course of actions in meetings with managers, stakeholders, and senior officials.
• Risk management executives are also expected to train the organization’s workforce regarding data hack, computer malfunctioning, etc.
• Maintaining health & safety standards in the workplace also comes under the risk management team.

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Skills required to become a good Risk Manager

If you want to be successful in a job field, the most important thing that matters is how much you understand the industry. The more you know, the lesser are chances of making mistakes. In other words, it’s all about minimizing risk factors and the scope of error. To be perfectly able to perform a business task, one should be loaded with relevant skills. Here are some of the skills you should possess to become a successful risk manager.

• Strategic thinking: Risk management is all about strategizing and making policies to counter various forms of business risks. You should be smart enough to see the bigger picture, spot areas of concern, and come up with solutions. The ability to think strategically makes a good risk manager.
• Financial expertise: Financial risk makes up a major part of threats a company faces. To work out with monetary risks, you need to be knowledgeable in the field of finance. This is one of the reasons why aspirants with a degree in finance are found in large numbers in the field of risk management.
• Working under pressure: Risk management is among the trickiest and most demanding job fields. As a professional, you are supposed to be the savior of your organization’s assets. You should learn not just to work in stretching hours, but also to guide your team to be ready to face challenges calmly.
• Adaptability: All successful businesses have one thing in common - adaptability. Thus, companies hire people who keep their flags high even in challenging times. From cyber-attacks to sudden legal changes, a risk manager is supposed to handle every moment of uncertainty with confidence.
• Leadership skills: Having a relevant degree and required qualifications is great, but to make a mark in risk management, you need to be good at managing a team and guiding the workforce in the right direction. A good leader is always a great asset to the organization.
• Analytical knowledge: As a risk manager, you will often be playing with data and numbers, from which you will be extracting meaningful insights. Those who possess this skill stay relevant for long in the business field.

Also Read: How to Make a Career in Financial Risk Management?
 

Reasons to pursue Risk Management Courses

With the business sphere getting bigger, many players are competing with each other. This has created

• The risk management courses are highly comprehensive in nature with a lot of subjects discussed to give you the overall perspective of the kinds of threats this market is facing.
• You will learn how to apply modern risk management concepts to keep your organization out of any form of threats.
• The course will be a huge asset to your decision-making skills, since this field requires quick resolutions at times.
• Talentedge’s online risk management course is an opportunity to learn how to measure, manage, and evaluate financial risks.
• After successfully completing the course, you will be able to implement various risk management practices in your company.
• Regular debates and discussions are part and parcel of the risk management courses, making classes a lively experience.
• From corporate bonds to credit ratings and from structured obligations to financial regulations, a detailed acquaintance with the risk management process will be demonstrated to you.
• Participants get the opportunity to study through real-life examples and case studies.
• After the completion of this risk management course, you will get a certificate of completion from some of India’s premier institutes. This will be a great value booster for your CV.
• During the online program in risk management, you will have access to our SLIQ cloud campus, where you will be able to communicate with the professors and ask your queries.

Also Read: 5 Reasons Why a Financial Risk Management Course is the Need of the Hour
 

Eligibility Criteria for the Online Risk Management Courses

Education

• For Indian participants, a Graduation degree (10+2+3) or Diploma certificate (only 10+2+3) from a recognized University (UGC/AICTE/DEC/AIU/State Government) in any discipline is mandatory
• International candidates have to present graduation or equivalent degree from any recognized University or Institution in their respective countries
• Proficiency in English, spoken & written is a must for attending the Risk Management courses

Work Experience

• Professionals with some work experience will be given preference

Risk Management Courses Admission Process

For availing the risk management courses, you need to follow given steps.

• Open the website of Talentedge: talentedge.com
• Search for your program on the browse course page.
• Read all details and criteria for pursuing the course.
• Click on the ENROLL NOW button on the course page, where you will be asked to fill up your details.
• If you face any issue with signing up or the course curriculum, you can talk to our representative by clicking on the GET A CALL button.

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Career Options and Salary After the Online Risk Management Course

The risk management field is among the most prospering in India, considering how the business market is witnessing constant disruptions. Although most of the professionals in this sphere come from insurance backgrounds, aspirants with relevant training and certification can be highly successful. One of the best ways to begin your journey in the field is by attending a risk management course. Talentedge’s programs have a track record of producing qualified and adequately skilled professionals.

Now, let’s have a look at the career options you can choose after completing the online risk management program:

• Risk analyst
• Financial risk manager
• Insurance analyst
• Corporate risk manager
• Loss control representative
• Risk control supervisor

These job opportunities are available across industries, from medical to finance and from supply chain to customer services. Talking about the salary, professionals in risk management are among the highest-earning fraternities in India. For a fresher in this field, the average basic salary is Rs 9-12 lakhs per annum. Mid-level executives earn something between Rs 15-18 lakhs per annum. However, senior management officials’ average salary is about Rs 35 lakhs per annum.

Also Read: The A-Z of Building a Career in Financial Risk Management

Risk Management Course Fee

One of the best advantages of Talentedge’s courses is the diversity in syllabi, course fees, and tenures. This makes it easy for students to choose courses according to their professional requirements.

Our course fees range from Rs 50,000 to 2,00,000.

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FAQs on Risk Management Courses

Q. What is risk management in simple words?

Ans: In the business world, risk management is defined as the process of identifying, assessing, and curbing threats to a company’s financial and organizational prospects. Implementing this process is of extreme importance for any organization that is looking to hold its sway in the market for long. Risk management requires the human resource to be conscientious, since a little mismanagement can take a company downhill.

Q. What are the 5 stages of risk management?

Ans: The process of risk management takes place in mainly 5 stages. These are;

1. Identify potential risks
2. Risk analysis
3. Risk evaluation
4. Risk elimination
5. Result monitoring

The first step to eradicating a problem has to be identifying the core issue. This can be done through various methods including internal history research and consultation with industry professionals.

The next step is to understand the risk properly, find its severity, know the scope, etc. This will give a clear picture of what to do in the next step, which is evaluation.

A company chooses to eliminate some risks while letting others continue for the sake of the greater good. What follows next is going for a solution and making sure they don’t hurt the future prospects of the business.

Q. Why should I attend a Risk Management Course?

Ans: In order to make a successful career in the field of risk management, the basic requirement is having some experience in the field plus a certification or degree. This is one of the reasons why you should attend the online risk management course by Talentedge. Since the course covers a lot of topics, from forecasting methods to modern financial markets and from modern portfolio theory to analytical thinking, it will prepare you for facing the challenges ahead.

Q. What are the 4 strategies for Risk Management?

Ans: Following are the 4 major strategies for risk management. When a company faces a risk, it reacts in either of the four ways based on what suits the business prospects.

1. Avoid the risk
2. Scale down the risk
3. Transfer the risk
4. Retain the risk

Q. Who is a Risk Manager?

Ans: A risk manager is a professional who handles the risk management department of an organization. He/she is responsible for implementing measures that can keep the impact of any factors that can harm the company in check. The role of risk managers is not limited to a single sector, rather they survey and analyze risk areas in various units in the company.

Q. What qualification do you need to be a Risk Manager?

Ans: The basic requirement for being a risk manager is graduation. An undergraduate degree in business administration or commerce is highly appreciated. However, if you want to enter the risk management sphere after graduation, consider having a master’s degree or certification in a relevant subject. Opting for one of Talentedge’s online risk management courses might be the best option for making a flourishing career ahead.

In addition to the educational requirements, make sure you have an interest in analytics, strategic thinking, relationship building, adapting to the changing norms of the business world, etc.

Q. Is Risk Management Courses a good career?

Ans: Risk management is an incredible career for those who love playing with statistics and understand the business domain well. There are a lot of opportunities in this field, with thousands of aspirants entering the domain every year. Talking about the salary, risk managers, with 4-5 years of experience, earn an average of 22 lakhs rupees per year.

Q. What are the skills required to attend the Risk Management Course?

Ans: If you are interested in attending the risk management course and want to be a good risk manager, you should work on honing the following skills-

• Analytical skills
• Financial knowledge
• Ability to work under pressure
• Adaptability
• Leadership skills

In various other aspects of life, you should be perfect. However, strengthening yourself in these areas would be the best way to enter the field of risk management.

Q. Which Risk Management Certification is the best?

Ans: Risk management is a highly in-demand job field not just in India but across the world. If you have the skills and knowledge required in the domain, you are sure to be successful. The first thing you should do before setting your foot in the domain is attending one of Talentedge’s risk management courses offered by two of India’s most reputed institutes: IIM Kozhikode and IIM Raipur.