Post BCom: Exploring the Path of Risk Management
After completing my BCom, I found myself at a crossroads with numerous potential paths ahead. While most people around me suggested pursuing a master's degree or gaining work experience, I felt the need for a more specialized skill set to distinguish myself in the competitive job market.
The Decision to Specialize in Risk Management
The decision to enroll in a risk management program at the Global Risk Management Institute (GRMI) stemmed from several factors. Firstly, I observed a growing demand for skilled risk managers, especially in the face of unprecedented challenges and uncertainties that businesses are currently encountering. The COVID-19 pandemic and its ripple effects underscored the critical need for professionals adept at identifying, assessing, and mitigating risks to organizational success.
Furthermore, choosing a specialized course like risk management offered me the opportunity to acquire niche expertise and practical skills tailored to meet the demands of the industry. Rather than pursuing a generic path, specializing in risk management allowed me to develop a focused skill set that aligns with current market needs and future trends.
The Potential of Risk Management in the Job Market
After your BCom, when considering career paths such as a Chartered Accountant (CA), Master of Business Administration (MBA), Chartered Financial Analyst (CFA), Chartered Institute of Management Accountants (CIMA), Chartered Institute of Internal Auditors (CIA), Actuarial Science, and more, my vote goes to Risk Management. This dynamic and specialized field is proving to be financially rewarding, with significant growth potential.
In India alone, the demand for risk professionals is approximately 10,000 individuals annually and is projected to rise to over 100,000 within the next 3 to 5 years. There are several reasons for this remarkable growth, including increasing regulatory scrutiny and the need for robust risk management frameworks to ensure organizational resilience.
Programs and Opportunities at GRMI
I recommend exploring specialized programs like the one offered by the Global Risk Management Institute. Their one-year program includes a guaranteed six-week internship and assured placements with salary ranges upward of Rs. 6 lakhs (approximately $8,000 USD) depending on work experience (0-4 years) or on a case-by-case basis for those with 4 years of experience.
The curriculum is comprehensive and covers a broad spectrum. It includes three papers focusing on general management topics and thirteen technical papers delving into various aspects of risk management. These technical papers cover:
Enterprise Risk Management (ERM) Internal Audit (IA) Sarbanes-Oxley compliance Internal Financial Controls Regulatory Compliance Financial Risk Management Applied Audit Analytics Information Technology General Controls (ITGC)The development of the Risk Management papers has been led by professionals with over 100 years of collective experience in the risk consulting space. These papers have been co-developed and reviewed by Global Risk Advisory leaders and industry experts in collaboration with esteemed faculty from internationally recognized universities. This collaborative effort ensures that the curriculum remains relevant and aligned with current and emerging industry standards.
Conclusion
This journey has been enlightening, and I wish you all the best on your path. Risk management is a field that demands specialization and offers significant career opportunities. With the right program and a clear understanding of market demands, you can build a rewarding and successful career in this dynamic field.