This is a guest blog post from the Banking and Financial Markets: A Risk Management Perspective course team at IIMBx.
Have you ever wondered why an economic and financial crisis in one country affects other parts of the world?
In today’s globally interconnected world, banking and financial markets have grown not only in size, but also in complexity and inter-relatedness. Be it a steep decline in exports in South East Asia or negative interest rates in a remote district somewhere in Europe – every event has a cascading effect across the world.
The banking market has been continuously evolving since the economic liberalization in the early 1990s. There has been steady improvement in the quality and efficiency of financial products and services and a steep rise in the complexity of the instruments involved, which in turn demand more stringent regulatory frameworks and actions. This makes it even more important for finance professionals to stay abreast of the ever-changing world.
With an increase in the complexity of financial systems, the demand for Risk Management professionals has seen a steady rise over the last few years. The main tasks of risk management professionals and related profiles (credit manager, liquidity manager, investment manager, treasury manager etc.) is to identify, assess, prioritize and manage risks. There are various risks that finance professionals deal with such as liquidity risks, solvency risks, market risks, foreign exchange risks, credit risks, operational risks, interest rate risks and more. A good understanding of these risks equip professionals with the knowledge manage these risks effectively.
But, what are the skills required to get into risk management and related professions?
It is important for a risk management professional to be able to identify and understand the nature of risk, have the ability to measure the magnitude of the risks involved and the aptitude to comprehend and manage these risks. The most important skill is having the ability to come up with a solution under favorable and adverse conditions.
There are several ways one can acquire these skill sets. Formal education in the area of finance gives a broad understanding of these markets and exposure to various forms of media, allows one to follow the markets, which in turn gives a lot of insights. Our course, Banking and Financial Markets: A Risk Management Perspective will provide you with the knowledge and skills needed in this ever-changing field.
This course is targeted at students and working professionals who are looking to widen their portfolio and step into other areas of finance. This course will serve as the perfect overview for all aspiring risk management professionals and also for those who want to be involved in controlling, analyzing or evaluating potential credit risk, liquidity risk and market risks.
IIMBx now offers a MicroMasters program in Business Management. The six-course advanced program includes corporate finance, operations management, strategic management and much more. Learn more and enroll now.