Risk Management Programmes

PROF. MADHU VIJ
Former Professor at FMS, University of Delhi.

In the current complex and turbulent business environment, organizations are undergoing rapid digital and process transformations and embracing newer business models to remain competitive. The business landscape of organizations has shifted focus from recession survival tactics to aggressive growth strategies. With this, the risk profile of organizations is also changing drastically along with the impact and velocity at which such risks can potentially hit the organizations.  Managing risks is the priority for senior management and it is a key strategic parameter now for organizations to create sustainable value and succeed. To support organizations during these challenging times, the onus is equally on the academia to support business organizations with requisite skill sets and trained professionals and give guidance around applying a structured lens towards understanding the risk landscape and implementing risk management practices in an organization. Unfortunately, education in the risk management domain has started showing prominence only in the last few years, and that too has been limited to specific aspects of risk management like financial risk, market risk, insurance, and Enterprise risk management as a concept. There still seems to be a dearth of comprehensive risk management programmes, which are now the need of the hour as one needs to have skill sets to apply risk lens in business, tactical and strategic decision making in organizations to be able to deal with the challenging and uncertain environment. Some institutions have taken lead and are offering risk management courses with varying degrees of coverage and in different formats – classroom or online, part-time or full-time, degrees or certificate courses.

  1. ‘Master of Science in Enterprise Risk Management’ delivered by COLUMBIA UNIVERSITY in New York City since the spring of 2016 – Key domain areas covered by the programme include Value-Based Enterprise Risk Management, Traditional Risk and ERM Practices, Managing Human Behaviour in the Organization and Strategic Communications for Risk Professionals. The programme offers multiple delivery options to choose from – Online,   On Campus, Full-time, Part-time
  1. ‘Master of Business Administration with a concentration in Risk Management’ delivered by the UNIVERSITY OF GEORGIA, Terry College of Business, Georgia – Key domain include corporate risk management, Risk management consulting, Employee benefits management / consulting, and Insurance brokerage

 

  1. GRMI‘Post Graduate Programme in Risk Management’ delivered by the Global Risk Management Institute, Gurugram, India – The institute offers a one-year full-time classroom programme for graduate students and delivers 1,000+ hours of experiential learning. The PGPRM programme provides comprehensive coverage of varied aspects of risk management including Enterprise Risk Management, Internal audit, Sox methodology and implementation, Cyber risk, IT risk management, Regulatory & Compliance risks, and use of data analytics and digitalization aspects in risk management across various industry verticals.
  1. ‘Master of Science in Enterprise Risk Management’ delivered by Boston University, Boston – Key domain areas include Financial Concepts, Quantitative and Qualitative Decision-Making, The Innovation Process: Developing New Products and Services Business Continuity Management

 

  1. ‘Master of Science in Financial Analysis and Risk Management’ delivered by Temple University, Fox school of business, Philadelphia, Pennsylvania. The university has a unique curriculum that supports pursuing both the Chartered Financial Analyst (CFA) Exam Levels I through III and the Financial Risk Management (FRM) Exam Parts I and II. Key domain areas include Corporate value management, Derivative valuation, Enterprise risk management, Investment Management, Leveraged buyout (LBO) and merger and acquisition (M&A) transaction analysis, Machine learning in finance, Numerical valuation methods, Quantitative fixed-income modeling, Financial risk management 
  1. Project management Institute - HQ- Newton squarePMI- RMP (Risk Management Professional) certification delivered by Project management Institute -HQ- Newton square, Pennsylvania, US. PMI RMP covers risks knowledge across 5 domains – Stakeholder engagement, Risk process facilitation, Risk monitoring, and reporting, Perform specialized risk analyses

 

  1. irm‘Global Qualifications in Enterprise Risk Management’ delivered by the Institute of Risk Management, UK – The curriculum includes Principles of Risk and Risk Management, Practices of Risk Management and delivers the programme over five modules

 

  1. Chartered Enterprise Risk Analyst (CERA) certification delivered by Society of Actuaries (SOA) – Schaumburg, Illinois, United States. Key concepts covered as part of the programme include Qualitative aptitude, Quantitative aptitude, ERM – practical and theoretical, Understanding the actuarial approach to risk, General risk management
  1. Certified Risk Manager (CRM) delivered by National Alliance for Insurance Education and Research – Austin, Texas. This certification covers Principles of Risk Management, Analysis of Risk, Control of Risk, Financing of Risk, and the Practice of Risk Management.

 

  1. GARPFinancial Risk Manager (FRM) delivered by The Global Association of Risk Professionals (GARP), New Jersey. Part 1 of the programme focuses on Financial risk including quantitative analysis, fundamental risk management concepts, financial markets and products, and valuation and risk models. Part 2 of the programme covers Market, credit, operational and integrated risk management, investment management as well as current market issues.

 Reference:

  1. https://sps.columbia.edu/school/our-leadership#toc-4
  2. https://www.terry.uga.edu/alumni/rmi-advisory-board.php
  3. https://www.bu.edu/trustees/boardoftrustees/members/
  4. https://secretary.temple.edu/committee-membership
  5. https://www.pmi.org/about/leadership-governance/board-of-directors
  6. https://www.pmi.org/certifications/types/risk-management-rmp
  7. https://www.soa.org/about/governance/board-and-leadership/board-of-directors/
  8. https://www.soa.org/education/exam-req/edu-cera-req/
  9. https://www.scic.com/academy-board-members/
  10. https://www.scic.com/crm/
  11. https://www.garp.org/#!/about/board-of-trustees
  12. https://www.garp.org/#!/home
  13. https://grm.institute
  14. https://www.theirm.org/

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