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Tag: risk management training

Risk Management Training For Protecting Your Business Against Fraud

Posted on by Imarticus Learning

Today, the business landscape has been revamped with the introduction of globalisation. To stay relevant and survive in this fast-paced global economic market, every company requires adapting and transforming by taking risks. 

To mitigate financial losses while taking such risks, companies require proficient individuals and excellent strategies. This has led to a rise in demand for Financial Risk Management Courses. These courses equip candidates with data analytic measures, management tactics and planning methods that they use to extricate companies from losses and fraud. 

Why do Companies Require Financial Risk Management Strategy?

Financial risk management has become one of the most important pillars for the foundation of a successful business. Some key reasons every company requires a financial risk management strategy are:

  • Enables Growth

There has been a wrong assumption about risk management being a defensive business strategy. While using a risk management strategy, companies are bound to study their business processes minutely, which helps them expand and grow by taking calculated risks.

  • Evading Catastrophic Events

Any company can be charged with catastrophic events ranging from fraudulent activities to a market crash. This can not only hamper day-to-day business but sometimes ruin a company’s reputation. A risk management strategy helps prevent companies from going bankrupt and keeps them well-prepared.

  • Business Process Improvement

Focusing more on risk management strategies helps companies improve their business management processes. Companies are forced to investigate every minor issue that may result in significant losses or fraudulent activities. Financial risk management strategies help minimise business disruptions by closing loopholes at an early stage.

  • Maintain Competitiveness

At critical financial junctures, many companies find it hard to stay afloat and are often forced out of competition. The implementation of risk management strategies helps companies create better budgets and stay competitive. 

Essential Features to Look for in a Financial Risk Management Course

Before enrolling in a diploma in finance management course, ensure that it will teach you: 

  • Assessment 

The first step is to understand the vulnerabilities of a company to prevent an economic collapse or fraud. The course must teach you a holistic approach to analyse and perform an in-depth risk assessment of an organisation based on its scale, complexity, product and market exposure. Risk assessment also helps you understand the risk tolerance limit of a company and aids in creating a strategy to minimise the damage.

  • Governance

The course must shed some light on finance and fraud management as they play a crucial role in the success of an organisation. Management executives and stakeholders must be ready to adopt new strategies and procedures.

 The implementation of technology is a welcome change in such a situation. Adopting cloud-based risk management solutions and integrated ERP (Enterprise Resource Planning) can not only help in governance but also increase the efficiency of the organisation.

  • Prevention

To prevent fraud at an earlier stage, many companies are adopting fraud detection tools. Like when a company is interacting with its customers or onboarding a new employee, multi-factor authentication technology is used to verify the background details.  

Fraud prevention methods are extremely necessary, as they help a company save both time and money. You must ensure that the course you are pursuing has a dedicated section for that.

  • Detection 

Reports and control are necessary for detecting fraudulent activities. Controls are generally installed across several layers of the organisation as they are one of the main tools that alert employees about potential fraud occurrences.

Reports should be stored efficiently as they provide all the relevant pieces of information, like time stamps and dates. Any discrepancies in reports will help in detecting fraudulent behaviour.  

  • Monitoring

Implementing several procedures regarding fraud detection and financial management would amount to nothing if not monitored properly. To close the loopholes and evaluate the implemented strategies, continuous monitoring is necessary.

Why Should You Pursue a Financial Risk Management Course?

Here is the list of reasons why you should opt for a Financial Risk Management Course:

  • Booming Demands

The COVID-19 pandemic was responsible for one of the worst economic crises of all time. Companies ranging from small to large were all hit by financial losses. To stay prepared and avoid such damage, the demand for risk management graduates is soaring. 

  • Value for Money

A risk manager’s annual salary in India is Rs. 9 LPA, which is quite lucrative when compared to other job roles. Companies are willing to invest more to secure their financial assets if necessary. 

  • Prosperous Future

A Financial Management Course not only equips you with the skill sets that are relevant for avoiding financial losses, but it opens up multiple avenues too that can help you to secure a prominent future and apply for various other job roles.

Conclusion

With the advancement of technology, fraudulent activities are on the rise and companies require brilliant minds to tackle such situations. If you are thinking of diving into the world of risk management, then do check out the IIM Lucknow Finance Course under Imarticus Learning.

How To Begin Risk Management Training 

Posted on by Imarticus Learning

There are several reasons individuals and organizations might consider risk management, which is the practice of identifying, analyzing, and either taking action to reduce or mitigate risks and planning for contingencies if they occur. This post will explain some steps to begin risk management training.

Step 1: Identify and rank risks.

Identify all the chances that your organization faces, whether internal or external, and rank them in order of importance. This process will give you a picture of what you need to focus on when developing a risk management plan.

Step 2: Plan for risk mitigation.

Risk mitigation is reducing the likelihood of an event and its impact. This proactive approach to identifying, analyzing, and addressing risks requires a thoughtful strategy that considers avoiding future problems and how to solve them when they arise. Risk mitigation is an ongoing process, not just a reactive one.

To begin planning for risk mitigation, first, ask yourself what you can do currently to mitigate your organization’s risks. For example: does your company have insurance? Is there someone who specializes in risk management within your organization? Do you have access to training resources (whether internal or external)? 

Step 3: Training

Now that you’re ready to start, it’s time to train your employees using the steps you used to develop your training plan. Ideally, this process should get repeated every year so that employees understand what they need to do in their roles and how vital risk management is for their organization.

It helps keep things organized if you have a centralized location where all training materials are stored, especially if multiple departments within your company need access to them. It also makes sense to keep an electronic copy on hand of each training module so new employees can refer back as needed—and if you want proof that they did indeed view these videos/sheets/etc. You can make sure there’s an option at the end of each module asking whether or not someone has watched the content fully before moving on!

Step 4: Evaluate your risk management plan.

Once you have a risk management plan, it is crucial to evaluate the effectiveness of your project. How are you going to measure this? What metrics will you use? Do these metrics tell a story about your progress or lack thereof?

Once you have identified what needs improvement in your risk management plan, determine the appropriate solutions for each problem. Is there a funding issue? Does this mean something needs to be cut from other business areas to fund risk mitigation strategies?

It’s good practice to ensure that everyone within your organization knows who their point person is regarding risk management. 

Discover a capital market training courses with Imarticus Learning

Our advanced management program in the capital markets will teach students about investment banking, capital markets, risk management, and fintech. IIM Lucknow’s best business school created this six-month rigorous curriculum. This course may benefit experienced middle managers looking to relaunch their careers in the financial services industry.

Course Benefits For Learners:

  • As part of this equity research course, students will have the chance to meet and interact with their peers and industry professionals.
  • In this financial risk management course, students will master essential areas like investment banking, capital markets, risk, and fintech. 
  • A capital markets certificate includes all the information students need to know about the financial industry and its functioning.

A Guide To Risk Management Training

Posted on by Imarticus Learning

A Guide To Risk Management Training

Are you a risk manager? If so, this might be the most critical question to answer. Risk managers are responsible for identifying and mitigating business risks that could negatively impact customers or employees. While so many courses are available on this subject matter, one thing is clear: risk management training is essential to any company’s overall strategy.

Why is risk management training necessary?

best financial analyst course

Risk management training is essential in all industries and organizations. The reason is simple: risk management provides a critical framework for understanding how to effectively manage the risks you face daily, allowing you to make more informed decisions about how best to mitigate those risks.

You must know the concept of “risk management” from your education; however, here’s a quick primer: Risk Management is “the process of identifying and analyzing hazards or threats to minimize their impact on corporate objectives.” 

In other words, it involves identifying threats (or potential problems) before they occur or become unmanageable down the road – whether that means reporting issues quickly so they can be addressed by those responsible or avoiding them altogether by taking preventative measures earlier rather than later!

What are some benefits of a risk management training course?

There are several benefits to taking this course. It will help you to:

  • Be more efficient in your work because of an increased understanding of risk management concepts and procedures.
  • Learn how to effectively manage risk in your day-to-day activities, helping you avoid situations that could result in losses or harm yourself or others.

How do you select the right course for your needs?

Once you’ve decided to take a risk management training course, selecting the right one is essential.

Consider the following questions:

  • What are your goals for this training? Will it help improve current business operations or support new ventures? How will it benefit employees who work in these areas?
  • How relevant is this course to my job description and responsibilities within the organization?
  • In addition, consider whether any specific topics would be beneficial but not necessarily necessary at this stage of your career development or company growth plan; perhaps these should be saved until later when more experienced individuals start taking on leadership roles within the organization.

Risk management is integral to any business because risks threaten companies’ balance sheets. They can ultimately lead to a company’s demise. Risk management training can seem necessary for those new to the corporate world, but it is also very relevant for more experienced employees.

Discover a career in financial services and capital market  with Imarticus Learning

Our IIM Lucknow capital market course will teach students about investment banking, capital markets, risk management, and fintech. This demanding six-month program was created at IIM Lucknow by the top business school in the world. 

Course Benefits For Learners:

  • This financial management course allows students to network with peers and business professionals.
  • Students will comprehend crucial ideas like investment banking, capital markets, risk, and fintech.
  • The financial services management certification will teach students about financial services and capital markets.

 Visit our training centers in Mumbai, Thane, Pune, Chennai, Bengaluru, Delhi, Gurgaon, or Ahmedabad, or get in touch via the chat support system.

Is Risk Management a Good Career?

Posted on by Imarticus Learning

 

Risk management is the process of evaluating financial risks associated with a particular project or business decision taken by a particular company and then taking necessary actions to minimize such risks.

Risk management also factors in the elements of forecasting thus predicting any unfortunate incidents which may affect the company in a negative way and taking necessary measures to minimize the impact of such risks on the company’s image and profitability. It is a challenging activity as predicting future and its repercussions is not a cakewalk but at the same time, it’s exciting as it gives your brain a hard time in taking out solutions from hazy questions.

Who is it for?

Risks can be managed well by people who have a knack towards finding loopholes and problems and coming out with various alternate solutions for those problems. It is a perfect career for someone who has a creative bent of mind and who can answer all the questions a business has in financial terms.

Risk managers analyze the current situation of a company and the dynamic environment that envelops it. Then various upcoming policies and social factors are taken into consideration to check if they are helping the project in hand in any way or making it more difficult for the project to elbow its way out.

Is it a good career option?

What makes a role a good career option? The most important aspect of any career prospect is its sustainability- whether the market would need this job function in the future or not. Running a business or a company is a progressive process and people have to make long term business decisions to make things work.

Analyzing the risks which come from futuristic plans can only be done by a risk manager who has expertise in coming up with the alternatives for any unseen event. Risk managers aren’t going anywhere. The constant need for managing risks makes it an “on-demand” role.

Risk management course is different for companies belonging to different sectors as the exposure to risk in every sector is different. The automotive industry may be exposed to a higher risk at all times whereas the woolen garment industry is seasonal and thus has less risk involved than the former.  So, there is no standard process of measuring risk and this poses a challenge as a risk manager along with his job will also have to keep a tap on the dynamic environment and the changing scenarios.

Most of the skills learned by the risk managers are “on the job” which might bring in a lot of internal competition but also will be a good area of skill development. To be an efficient and effective risk manager you need to know the whole business inside out- Its customers, its employees, laws that affect the company and so on.

Someone with a strong aptitude and an acumen for problem-solving would be a great fit for being a risk manager. They play the most important role in maintaining the fiscal health of a particular company. They have to use their knowledge on various financial instruments in making the best out of a risky situation hence controlling the intensity of negative impacts. If you comply with the prerequisites of being a risk manager, it is most likely that you will be satisfied with your work.

Conclusion

Every career option has its own set of challenges but you will have to overcome them to emerge victoriously. A career in risk management will keep you on toes by throwing all sorts of challenges but will also make your work dynamic and exciting.

A Beginners’ Guide Investing in The Stock Market

Posted on by Imarticus Learning

There is no better way to learn than by doing. So we at Imarticus Learning believe that the best way to prepare for an interview for Corporate Finance jobs is to actively invest in the market in whichever way possible thereby putting some ‘skin in the game’, which ensures you know what’s going on. While FMVC and our Diploma in Corporate finance focus on Interview Prep using mock interviews and providing sample questions, we always encourage our students to actively participate in the stock market by opening Phantom Accounts.
Before you begin actively investing, you need to answer a few questions :

1. What are you doing this for? If you are doing it for the course, we advise you to open a phantom account, which essentially means you do everything but invest real money. Regardless of if you open a phantom account or the real thing, the following steps will help.
2. What kind of investor are you? Are you a risk taker, risk-averse, or a little bit of both? This is what we call investor profiling and we delve into this a great deal in our Retail Banking and Wealth Management Diploma, one of India’s leading programs/courses in Retail Banking and Wealth Management. Being a risk taker is simple. It requires a strong stomach and a healthy attitude to losing some money because the equity market is volatile. While you will be making decisions based on sound analysis, sometimes things go wrong and you could lose all your capital, hard earned money you have been saving for a long time. How do you feel about that? If you shudder at the thought and think you will lose a lot of sleep then you are probably risk averse. Once you realize this, you can then invest your portfolio keeping that in mind and put aside a small amount for risky ventures that offer spectacular returns and perhaps put the rest in conservative investments with lower returns.
3. How much time do you have? Picking stocks is hard work and there’s a reason why Mutual fund managers get paid so much to do it. So if you don’t have the time, we suggest starting out with an index fund like Franklin India Index or HDFC Index Fund – Sensex. An index fund is a mutual fund that invests in a predefined stocks of an index in a percentage allocation that resembles the index. Your portfolio could be a mix of different index funds, NSE Small caps, BSE Sensex and maybe even an international index fund.
4. I want to invest individually. We suggest creating your own index fund and take control of the percentage allocation thereby doing some work of your own while having the Sensex as a guide. If you plan to move away from the index, then create a portfolio of 12-20 well-chosen stocks that are extremely well covered and have excellent investor relations.
Here are some broad rules
a. Don’t put all your eggs in one basket or one sector
b. Understand the concept of defensive stocks and cyclicality
c. Don’t completely trust your broker but aim to create a good relationship
d. If you plan to invest using an online platform- the preferred method, then remember to read, research and plan meticulously and keep a record and mark to market regularly
Our next blog post will focus on the technicalities of opening your first account as well understanding various stock market terminology.