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Beat the odds

With financial markets hit severely, the demand for risk professionals is soaring.Vimal Chander Joshi Reports

education Updated: Jul 28, 2009 13:53 IST
Vimal Chander Joshi

The economic situation seems to be getting better, but the lessons of the past one year have led to a global rise in demand for risk professionals. Such a person calculates the risk involved in a job undertaken and works out a strategy to minimise that risk.

As of now, finance, insurance and banking professionals view it as a skill development that brightens their job prospects in the long term, says Jaidev Iyer, Managing Director, GARP (Global Association of Risk Professionals), New Jersey, which gives certification in Financial Risk Management (FRM). He speaks to HT Horizons.

What can this certification do?
The certification makes you a financial risk professional. Having undergone this 400-hour training, one becomes part of a 17,600-strong community of risk professionals around the world. The certification increases your job prospects in banking, insurance and financial markets.

Who should go for the certification?
The programme is primarily meant for professionals aged 25-40, but students enrol for it, too. This is why we are joining hands with colleges and universities around the world to start an MS (Master of Science) in risk management.

There has been no tie-up with an Indian college as yet. After the certification, there are opportunities in major banks, government agencies, law firms, asset management companies and brokerage firms.

Are Indians showing a keen interest in this certification?
Certainly. Around 3,000 Indians (out of 25,000 globally) will apply for the certification this year. Last year, the number of Indian applicants was half of that.

Where are the test centres in India?
Mumbai, Delhi, Bangalore, Chennai, Hyderabad and Calicut.

What new courses are coming up?
Our latest offering is a certification in energy risk, while there are plans to start programmes in investment management, insurance and risk in non-financial organisations.

Last date for enrolling: August 31 (October 15 with late fees)
Exam date: November 21, 2009
Fees: $700 ($950 in case of late registration)
Time duration: You need 300-400 hours of self-study which might take 1-2 years, depending on how much time you can spare
For more details, visit

The time is right

One of the youngest FRM professionals in India is a green techie

Gaurav Parashar, a final-year student of IIT Bombay co-founded ECPS India, which provides eco-friendly and cheap solutions to corporate firms to make the world a greener place. And now, he has become one of the youngest professionals to have received the Financial Risk Professional (FRP) certification.

“To provide cheap, green solutions to corporate houses, one must be an expert in financial matters. This led me to apply for the global recognition in finance,” says Parashar. The time is ripe, too. “Just as companies hire CFOs and CEOs, the trend of hiring a CRO (Chief Risk Officer) is picking up. It’s time to make hay, as risk managers are becoming professionals sought after by major banks. Even start-up corporations must hire a risk manager,” adds Parashar.