Every organisation faces uncertain business risks. These risks can be anything from a data breach, IT security threats, and natural calamities to legal risks, credit risks, and risks from adversaries. These risks can cost a lot to a company, making it fall behind its competitors. With a robust risk management strategy, businesses can have a profound understanding of such risks and identify them beforehand. While risk management identifies, analyses, and controls threats, it requires highly qualified, skilled and trained professionals.
If you aspire to build a career in risk management, there are numerous risk management certification courses in India you can pursue. These courses are available for both beginners as well as experts to excel in this field. Some of the best best risk management courses are offered under BBA, B.Com, MBA, Diploma, and PGDM degrees. There are also numerous online risk management certification courses you can pursue free or at a few costs.
After completing risk management courses online or on-campus, you can find many career opportunities in banking and insurance, infrastructure, public health, logistics and aviation, and construction sectors.
What is Risk Management?
The term risk management refers to the process of identifying, evaluating, and handling uncertain threats to an organisation’s growth. It significantly helps monitor, lessen, and control the probability and impact of unpredicted events and maximise opportunities to grow.
Who Can Pursue Risk Management Courses?
Individuals interested in managing risk associated activities can enrol in risk management courses online or on-campus. Professionals working in the risk management industry, especially legal experts, insurance professionals, accountants and loss control professionals, can apply for risk management certification courses to excel in this field.
Also Read: Free Risk Management Courses & Certifications
Eligibility Criteria for Risk Management Courses
- To get admission to undergraduate risk management courses, candidates must have completed class 12th with at least 50% marks from a recognised board.
- Some colleges conduct their own entrance exams for admission to UG courses in risk management, including IPU CET, DU JAT, and KIITEE.
- For postgraduate courses, candidates should have at least 50% marks in 10+2 and a bachelor’s degree in a relevant discipline from a recognised college/university with no back-logs.
- Admissions to risk management courses at the PG level are done through entrance exams such as CAT, MAT, XAT, CMAT, and GATE.
- Students awaiting final year results of graduation can also apply for MBA in Risk Management and meet the eligibility criteria once their results are out.
Skills Required for Risk Management
- Analytical skills
- Problem-solving
- Good communication
- Work under pressure
- Organisation skill
What Will You Learn in Risk Management Courses?
- Pursuing risk management certification courses will give you knowledge about risk awareness, financial risk, and internal control.
- You will be able to identify and predict unfortunate threats to an organisation and devise strategies to prevent them.
- Risk management certification courses will teach you about reputational risks, governance ethics, and foreign operations.
- These courses will also inculcate you with skills required for risk management within an organisation be it credit risks, IT security, cyber-related risks and more.
Popular Risk Management Certification Courses
Enrolling in risk management certification courses will open vast career opportunities for candidates looking to enter this field. These courses are designed to give aspirants an overall knowledge of risk management in a business environment and instil the skills necessary to excel in this field. Some of the best risk management courses have been mentioned in the table below.
Here’s the list of the best risk management courses:
Course Name | Offered by | Duration | Fees |
Executive Development Program in Applied Financial Risk Management | IIM Kashipur via Nulearn | 5 Months | Rs. 65,000 |
University of Cape Town, Cape Town via GetSmarter | 8 Weeks | Rs. 85,838 | |
Delft University of Technology via Edx | 7 Weeks | Free | |
Corporate Sustainability Management Risk, Profit, and Purpose | Yale School of Management, Yale University, New Haven via GetSmarter | 6 Weeks | Rs. 205,464 |
Shaw Academy | 4 Weeks | Free | |
Shaw Academy | 16 Weeks | NA | |
Imperial College Business School, Imperial College, London via Emeritus | 8 Weeks | £ 2,200 | |
SOAS University of London, London via Futurelearn | 4 Weeks | Free | |
Risk Management Professional Certificate | New York Institute of Finance | 40 Hours | $1,895 |
Commercial Banking & Credit Analyst (CBCA) | Corporate Finance Institute (CFI) | 6 Months | NA |
Career Options in Risk Management
The field of risk management is constantly growing. The demand for risk management professionals has never been higher with intensified job opportunities and new responsibilities. Candidates who are enrolling in risk management courses are in a unique position to excel in this field. There are many popular and widely-recognised career options in risk management across different industries.
Have a look at some of the popular job profiles in risk management:
- Risk Analyst
- Risk Manager
- Insurance Analyst
- Financial Analyst
- Risk & Assurance Adviser
Resource Links for Online MBA
Risk Management Salary Trends
The average salary for risk management jobs can vary as per qualifications, employers, a specific position, skills and level of experience. According to PayScale, the average salary of a risk manager in India is Rs. 998,483/ year. The pay can range between Rs. 324,000 to Rs. 2,000,000
Salary as per job profiles
Job Profiles | Average Base Pay (annually) |
Risk Analyst | Rs. 531,846 |
Financial Analyst | Rs. 414,662 |
Insurance Analyst | Rs. 27,935/ month |
Risk Management Consultant | Rs. 854,285 |
Insurance Manager | Rs. 618,744 |
*Source: PayScale and Glassdoor
Also Read: Popular providers offering risk management certification courses
Scope of Risk Management
There is no doubt that business is built upon risk and makes profits by taking risks. However, sometimes these risks can cost a huge loss of capital and reputation to an organisation. To prevent these threats, organisations are now building a common risk management plan that helps identify and control risks. With the increasing demand for risk management with increased job opportunities, it is clear that the scope of risk management is vast and broad.
As per the SANS Institute, risk management is a six-step process. It includes preparation, identification, containment, eradication, recovery, and lessons learned. So, after completing risk management certification courses or degree programmes, you will find plenty of career scope in this field.
Top Recruiters for Risk Management Certified Professionals
Dell | IBM | HDFC | |
ICICI | Reliance | Uber | Nike |
Qualcomm | McDonald’s | Tata Life Insurance | Volkswagen |
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FAQs
Q: Can I take online risk management courses for free ?
A: There are many online risk management courses that you can access free and learn risk management in detail and master this field.
Q: What do I learn in risk management certification courses?
A: Pursuing risk management certification courses will teach you fundamental enterprise risk management concepts and techniques and skills essential for financial and business management.
Q: Is it worth pursuing risk management courses?
A: Whether you choose online risk management courses or degree programmes, you will find an exciting career in this field with lucrative salaries locally and internationally.
Q: How to get started in risk management?
A: Pursuing a career in risk management, the best way is to pursue risk management courses at the graduate or postgraduate level or acquire risk management certification.
Q: How long does it take to complete risk management courses?
A: Online risk management courses are usually completed in a few weeks to months, while degree programmes take 1–3 years.
Q: Which colleges offer risk management courses in India?
A: Many top colleges/ universities offer risk management courses in India. These include International School of Business and Media, Pune; Aligarh Muslim University, Aligarh; CMJ University, Shillong, and University of Jammu, among others.
Q: What do I do after risk management courses?
A: After completing risk management courses, you can work in different industries as a risk manager, strategy manager, insurance analyst, financial analyst, risk management consultant, and product manager.