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For any business, from small to large, finance and financial stability are of utmost importance for its stature. But with improper cash flow management in and out of business, companies face financial risks, restricting their growth and eventually leading to their downfall. That is why companies increasingly look for professionals having expertise in financial risk management. It is a crucial element of any successful business, and professionals in this field are experts that guide a company through the uncertainties of the financial market and devise smart strategies for business growth.
Financial Risk Management is a professional qualification for risk management professionals. Earning the FRM certification successfully awards an individual as a certified financial risk manager by the Global Association of Risk Professionals (GARP).
Apart from this, financial risk management courses are offered at graduate and postgraduate levels along with diploma courses. Some of the courses include BBA Risk Management, BSc Investment and Financial Risk Management, Bachelor of Business: Banking and Finance and Financial Risk Management, and MS in Financial Risk Management. Many top institutes also offer online financial risk management courses via online platforms such as Edx, Coursera, and Udemy. After completing financial risk management courses, you can find job opportunities in banking, insurance, asset management and hedge funds, consulting, technology, and non-financial corporations.
What is Financial Risk Management?
It is the process of interpreting, assessing, and addressing potential risks associated with finance to ensure a company’s objectives are accomplished. With the right risk management strategies in finance, companies can deal with any erratic scenarios and maximise profits as much as possible.
Who Can Pursue Financial Risk Management Courses?
Anyone can take up financial risk management courses in graduation or after graduation. Individuals having an understanding of accounting, statistical probability, mathematics, software application and operations management can find these courses most apt for them. Professionals who want to level up their career in finance can also go for financial risk management certification courses.
Also Read: Free Financial Risk Management Courses & Certifications
Eligibility Criteria for Financial Risk Management Courses
- For financial risk management certification, candidates need to appear for the FRM certification exam held twice a year (May and November) after graduation.
- For bachelor’s courses, candidates must have passed 10+2 with at least 50% marks from a recognised board.
- For admissions to UG financial risk management courses, colleges conduct entrance exams such as DU JAT, BUMAT, KIITEE, and SET.
- For PG financial risk management courses such as M.A. Financial Risk Management/ Master of Insurance and Risk Management, candidates should hold a bachelor’s degree in any relevant stream from a recognised college/university.
- Entrance exams for admission in PG courses include CAT, XAT, IBSAT, MICAT, IIFT, and the likes.
Skills Required for Financial Risk Management Courses
- Analytical skills
- Statistical skills
- Good Communication
- Organisation
- Project management
- Strong financial knowledge
What Will You Learn in Financial Risk Management Courses?
- Taking up financial risk management courses will teach you critical skills in risk management in finance that you can utilise in banks, insurance companies, hedge funds, and other financial services and investment firms.
- These courses are significantly designed to broaden your skill set and help you gain standardised industry knowledge, enabling you to become a leader in finance.
Popular Financial Risk Management Certification Courses
Pursuing financial risk management certification courses will equip aspirants with industry-ready skills. The courses improve career opportunities for professionals working in the financial industry. These online financial risk management courses are short term study programmes available for free or at some charges.
Here’s the list of the best financial risk management certification courses:
Course Name | Offered by | Duration | Fees |
Vskills | Self-faced | Rs. 3,499 | |
Executive Programme in Fintech Banking and Applied Risk Management | IIM Lucknow via Eruditus | 5 Months | Rs. 107,500 |
State Bank of India via Edx | 6 Hours | Free | |
Edupristine | 75 Hours | $400 | |
New York Institute of Finance, New York via Edx | 4 Weeks | Rs. 7,328 | |
New York Institute of Finance, New York via Edx | 4 Weeks | Free | |
New York Institute of Finance, New York via Edx | 6 Weeks | Free | |
State Bank of India via Edx | 4 Weeks | Free | |
New York Institute of Finance, New York via Edx | 4 Weeks | Rs. 25,993 | |
New York Institute of Finance, New York via Edx | 4 Weeks | Free |
Career Options in Financial Risk Management
There are huge career opportunities for candidates in the finance domain. After completing financial risk management courses online or offline, you can find employment opportunities in banks, consulting, auditing firms, technology, insurance, educational institutes, government departments, and non-financial corporations. You can explore various job roles with lucrative salary packages after earning a certificate in financial risk management.
Some of the top job roles in the financial risk management domain are:
- Financial Risk Manager
- Market risk specialists
- Operational risk analysts
- Investments Analyst
- Budget Analyst
Also Read: Popular providers offering courses in Financial Risk Management
Financial Risk Management Salary Trends
The salary of professionals specialising in financial risk management will vary depending on qualifications, skillset, job roles, and experience level. According to PayScale, the average salary of a risk manager in India is Rs. 998,483/ year.
Salary as per experience level
Less than 1 year | 1-4 years | 5-9 years | 10-19 years | 20 years & above |
Rs. 634,015 | Rs. 806,791 | Rs. 1,117,138 | Rs. 1,436,393 | Rs. 1,490,000 |
*Source: PayScale
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Scope of Financial Risk Management
With the development of the financial market, risks associated with finance will continue to grow. The scope of financial risk management will witness a tremendous rise as the demand for financial risk managers is high. Financial risk management involves an assessment of many assets and liabilities in the present as well as in the future. With a financial risk management certification, candidates can find various career prospects, including risk management analytics consultant, risk quantification manager, enterprise commercial risk manager, market risk specialist, credit risk specialist, regulatory risk specialist, and many more.
Top Recruiters for FRM Certified Professionals
- HDFC Life
- Uber
- ICICI Bank
- Bajaj Capital Limited
- L & T Finance Limited
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FAQs
Q: What are financial risk management courses?
A: Financial risk management courses are professional courses for risk management professionals. The FRM designation is a certificate course offered by the Global Association of Risk Professionals (GARP), helping professionals better understand and manage financial risks.
Q: How to do financial risk management courses online?
A: There are many online financial risk management courses or certifications that equip you with industry-ready skills.
Q: Is pursuing financial risk management courses a good choice?
A: Pursuing financial risk management courses online or offline will open up various new opportunities in banks, hedge funds, insurance and non-financial corporations.
Q: What is the cost of a financial risk management course?
A: The financial risk management courses fees may differ from institute to institute and the course you choose.
Q: How long does it take to complete financial risk management courses online?
A: The duration of online financial risk management courses and certifications will vary, as per institute and the course type. The average duration ranges from a few weeks to months.
Q: What can I do after financial risk management courses?
A: As financial risk management has an impact on finance, accounts, insurance, assets, mergers, and everything in between, you can find huge opportunities after completing financial risk management courses and certifications.