Updated on Aug 1, 2023 05:12 IST
Parul Thapa

Parul ThapaSenior Executive Content

Risk management is an essential process used by organizations to identify, analyze, and mitigate potential risks that may impact their operations, projects, or objectives. In a rapidly changing business environment, understanding and effectively managing risks is crucial for ensuring the long-term success and sustainability of any organization. 

Risk management is a course that focuses on the identification, assessment, and mitigation of potential risks in various areas of business and life. It is a systematic approach to understanding and managing uncertainties and threats that may arise in different contexts. 

Key Highlights of Risk Management

The Risk Management course covers a wide range of topics, including risk assessment methodologies, risk identification techniques, risk analysis and evaluation, risk treatment strategies, and risk communication and reporting. It explores the different types of risks that organizations and individuals may face, such as financial risks, operational risks, strategic risks, and compliance risks.

Candidates can check the following key points of the Risk Management course.

Particulars

Details

Course Level

UG, PG, Diploma, Certificate

Course Fee

INR 80,000 - INR 5 Lakh

Course Duration

2-3 years

Entrance Exam

CAT, MAT, XAT, CMAT, NMAT

Popular Colleges

Chandigarh University, IIM Lucknow, IIRM Hyderabad, RV University, etc.

Job Profiles

Risk Analyst, Risk Manager, Credit Risk Analyst, Market Risk Analyst, Regulatory Risk Analyst, etc.

Average Annual Salary 

INR 1 LPA - INR 3.1 LPA

Top Recruiters

Accenture, American Express, Netscribes, Capgemini, Morgan Staley, Reliance Mutual Fund, etc.

What is Risk Management?

Risk management is a critical process for organizations of all sizes and industries. By systematically identifying, assessing, and mitigating risks, businesses can protect their assets, ensure continuity, make informed decisions, and safeguard their reputation. By implementing a robust risk management framework, organizations can better position themselves to navigate uncertainties and achieve their goals in an ever-changing business landscape.

Components of Risk Management

Risk Management aims to minimize the negative consequences of risks while maximizing the opportunities that may arise from them. The components of Risk Management can be categorized into five key areas:

  • Risk Identification: By proactively identifying potential risks, organizations can better prepare and respond to them. Through various methods and techniques, risks are systematically identified and analyzed, allowing organizations to make informed decisions on how to mitigate or eliminate them.
  • Risk Analysis: It involves the systematic examination and evaluation of potential risks in order to make informed decisions and develop effective strategies to mitigate them. Risk analysis provides organizations with a comprehensive understanding of the threats they face, enabling them to proactively prepare for and respond to potential disruptions.
  • Response Planning: Response planning is a critical component of Risk Management. In the context of Risk Management, response planning refers to the process of identifying and documenting the appropriate actions to be taken in the event that a risk or potential risk materializes
  • Risk Mitigation: Risk mitigation in Risk Management refers to the process of identifying, assessing, and implementing strategies to minimize or control potential risks. It is a crucial aspect of Risk Management that aims to reduce the negative impact of risks on an organization or a project. 
  • Risk Monitoring: Risk monitoring enables organizations to proactively identify, assess, and control risks. By implementing effective risk monitoring practices, organizations can enhance their Risk Management capabilities, make informed decisions, and protect their reputation, financial stability, and long-term success.

How Has The Risk Management Evolved Over Time?

Risk Management is a critical aspect of any organization's operations, ensuring the identification, assessment, and mitigation of potential risks. Over time, Risk Management has evolved significantly, adapting to changing business landscapes, technological advancements, and regulatory frameworks. 

  • Risk Management can be traced back to ancient civilizations, where merchants and traders employed various strategies to protect their assets. However, it was during the Industrial Revolution in the 18th century that Risk Management began to take a more systematic approach.
  • In the mid-20th century, Risk Management saw a significant shift towards a more quantitative approach
  • The rapid advancement of technology in the late 20th century had a profound impact on Risk Management. 
  • The early 21st century witnessed a significant increase in regulatory requirements and the importance of corporate governance. 
  • In the era of digitalization and interconnectedness, Risk Management faces new challenges and opportunities. Cybersecurity risks, data breaches, and technological disruptions have become prominent concerns. Risk Management has had to adapt to these emerging risks, incorporating robust cybersecurity measures, data protection protocols, and contingency plans.

Key Terminologies and Jargon in Risk Management

Some important Supply Risk Management includes the following:

  • Risk Assessment: Risk assessment is the process of evaluating and quantifying potential risks to determine their likelihood and potential impact.
  • Risk Appetite: Risk appetite refers to the level of risk that an organization is willing to accept in pursuit of its objectives
  • Risk Register: A risk register is a central repository that documents and tracks all identified risks within an organization. 
  • Risk Matrix: A risk matrix is a visual tool used to assess and prioritize risks based on their likelihood and impact.
  • Key Risk Indicators (KRIs): KRIs are predefined metrics or parameters used to monitor and measure the level of risk within an organization.
  • Business Continuity Planning (BCP): BCP is a proactive process that organizations undertake to ensure their critical operations can continue during and after a disruptive event.
  • Incident Response: Incident response refers to the organized and coordinated approach an organization takes to manage and respond to a security breach, natural disaster, or any other event that poses a threat to its operations.

Required Skills for Risk Management Jobs

Risk Management is a crucial aspect of any organization. It involves identifying, assessing, and mitigating potential risks that could impact the achievement of business objectives. To excel in Risk Management roles, individuals need a specific set of skills and competencies. Here are some of the required skills for Risk Management jobs:

  • Analytical Skills: Risk managers must possess strong analytical skills to assess complex situations, identify potential risks, and evaluate their impact on the organization. 
  • Problem-Solving Abilities: Quick thinking and the ability to navigate through uncertainties are essential in this field.
  • Knowledge of Risk Assessment Techniques: A thorough understanding of risk assessment techniques is essential for Risk Management professionals. 
  • Strong Communication Skills: Effective communication is vital for risk managers as they need to convey complex information to various stakeholders. 
  • Financial Acumen: Risk managers should have a solid understanding of financial concepts and be able to analyze financial statements. 
  • Industry Knowledge: Risk Management professionals should have a good understanding of the industry in which they operate. 
  • Attention to Detail: Risk managers must have a keen eye for detail to identify potential risks that may go unnoticed by others. 
  • Leadership and Collaboration: Risk managers should be able to lead teams, facilitate collaboration, and build consensus among stakeholders. 
  • Adaptability and Resilience: Risk Management is a dynamic field, and risk managers must be adaptable in dealing with changing circumstances. 
  • Ethical Conduct: Risk managers should prioritize the organization's interests and act in a manner that upholds integrity and transparency. 

Eligibility Criteria for Risk Management

The eligibility criteria for Risk Management courses vary at different levels. Candidates can check the Risk Management eligibility criteria for Certification, Diploma, Undergraduate and Postgraduate levels. 

Course

Eligibility Criteria

UG Courses

  • Candidate must have passed senior secondary education with an aggregate of 45-50% from a recognized board or equivalent. 
  • Admission to some colleges might be based on BBA entrance examinations. 

PG Courses

  • Candidate must have completed graduation in any discipline from a statutory or recognized college/university/institution with an aggregate of 45-50% marks. 

Diploma Courses

  • Candidates must possess a Bachelor’s degree (in any discipline) from a recognised Institute/University with an aggregate of 50% marks or equivalent. 
  • The bachelor’s degree must entail a minimum of three years of education after completing Class 12 from a recognised board or equivalent. 

Certificate Courses

  • Candidates must have completed graduation from a recognised institution/university. 

Top Online Risk Management Courses

As organizations face increasing complexities and uncertainties, the ability to identify, analyze, and mitigate risks is essential for success. Fortunately, there are several top-notch online Risk Management courses available that can equip professionals with the knowledge and skills needed to excel in Risk Management. In the following table, we will explore some of the top online Risk Management courses that are highly regarded and offer comprehensive training.

Online Courses 

Details

Professional Certificate in Information Security & Risk (Amity University)

  • This course evaluates and assesses the information security state of an organisation from a holistic perspective
  • Fee: INR12,000  

Edelweiss Certificate Program in Wealth Management (NIIT)

  • Education Eligibility: Graduate
  • Pre-requisites: Candidates should possess good command over the English language, and also should be interested in performing a target-oriented Sales role
  • Fee: INR 1,25,000  

Disaster Recovery And Build Back Better (IIT Roorkee)

  • For B.Arch, Masters in disciplines of Architecture planning and Built Environment Studies, PhD

EDP in Advanced Financial Management Batch 10 (XLRI)

  • This course is for working professionals with minimum of four years of work experience in the finance domain looking to gain knowledge of advanced financial tools will find this course suitable for them

Risk Management Syllabus

The Risk Management course is designed to provide students with a comprehensive understanding of the principles and practices of Risk Management in various contexts. It covers the identification, assessment, and mitigation of risks in both personal and professional settings. Through a combination of theoretical knowledge and practical applications, students will develop the necessary skills to effectively manage risks and make informed decisions.

Candidates can check the Risk Management syllabus in the table below.

Risk Management Subjects

Principles of Management

Principles of Accounting

Managerial Statistics

Legal Environment of Business

Research Method

Marketing Management

Disaster Management

Salesmanship

Financial Institutions

Indirect Tax

Industrial Relations

Operations Research

Marketing

Business Analytics

Human Resource Management

Tools that Students Learn in Risk Management

Risk Management is a crucial discipline that helps organizations identify, assess, and mitigate potential risks that may impact their operations. As Risk Management continues to gain importance across industries, it is vital for students pursuing a career in this field to gain a solid understanding of the tools and techniques used in Risk Management. In the points below, we will explore some of the key tools that Risk Management students learn.

 

  • Risk Register: It is a systematic and organized document that helps organizations identify, assess, and manage risks associated with their projects, operations, or overall business activities. The Risk Register serves as a central repository for recording and tracking all identified risks throughout their lifecycle.
  • Root Cause Analysis: Root Cause Analysis (RCA) is a systematic approach used in Risk Management to identify the underlying cause or causes of an incident or problem. It is a valuable tool that helps organizations understand why a particular risk event occurred and allows them to take appropriate actions to prevent its recurrence.
  • SWOT: SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. It is a framework that helps organizations identify and analyze internal and external factors that may impact their ability to achieve their objectives.
  • Probability and Impact Matrix: The Probability and Impact Matrix is a tool used in Risk Management to assess and prioritize risks based on their likelihood of occurrence and potential impact on project objectives. It helps project managers and stakeholders to understand the level of risk associated with each identified risk and determine appropriate risk response strategies.
  • SpiraPlan by Inflectra: It is a project management and collaboration software developed by Inflectra. It is designed to help organizations plan, track, and manage their projects effectively. With its comprehensive set of features, SpiraPlan aims to streamline the project management process and enhance team collaboration.
  • A1 Tracker: A1 Tracker is a comprehensive software solution that is designed to streamline and automate various aspects of business operations. It serves as a centralized hub for managing and tracking critical data, documents, and processes across different departments and teams within an organization.

Career in Risk Management

Risk Management is a field that plays a crucial role in various industries, helping organizations identify, assess, and mitigate potential risks. It involves analyzing uncertainties and implementing strategies to minimize their impact on business operations. A career in Risk Management offers a unique opportunity to work closely with stakeholders and make informed decisions that contribute to the overall success and sustainability of an organization.

A career in Risk Management offers a challenging and fulfilling path for individuals interested in analyzing and mitigating risks. With the right education, skills, and experience, professionals in this field can make a significant impact on the success and sustainability of organizations. As the importance of Risk Management continues to rise, so do the opportunities for those pursuing a career in this dynamic field.

Why Choose Risk Management for a Career?

  • The Risk Management industry in India is witnessing significant growth, offering a wide range of job opportunities for aspiring professionals.
  • Entry-level risk analysts can expect to earn around INR 4-6 lakhs per annum, whereas senior risk managers can earn upwards of INR 15-20 lakhs per annum.
  • According to industry reports, the Risk Management market in India is expected to grow at a CAGR of 10-12% in the coming years.

Industries in Risk Management

Risk Management is a crucial aspect of many industries, ensuring that potential risks and uncertainties are identified, assessed, and mitigated in order to protect businesses and their stakeholders. Here are some industries where Risk Management plays a vital role:

Industries

Application

Finance and Banking

In the financial sector, Risk Management is of utmost importance. Banks and financial institutions use Risk Management strategies to identify and manage various risks, such as credit risk, market risk, liquidity risk, and operational risk. By implementing robust Risk Management frameworks, these institutions can safeguard their assets and ensure stable financial operations.

Healthcare

The healthcare industry faces numerous risks, ranging from patient safety concerns to regulatory compliance issues. Risk Management in healthcare involves identifying potential risks, such as medical errors, data breaches, and malpractice claims, and implementing preventive measures to minimize their impact. Effective Risk Management helps healthcare providers ensure patient well-being and protect their reputation.

Construction

The construction industry is inherently risky due to the complex nature of projects, the involvement of multiple stakeholders, and the potential for accidents and injuries. Risk Management in construction involves assessing various project-related risks, such as cost overruns, delays, safety hazards, and legal liabilities. By implementing Risk Management protocols, construction companies can enhance project outcomes, minimize losses, and ensure worker safety.

Information Technology

In the rapidly evolving field of technology, Risk Management is critical to protect sensitive data, prevent cybersecurity breaches, and ensure uninterrupted IT operations. IT Risk Management involves identifying potential threats, such as malware attacks, data breaches, and system failures, and implementing security measures to mitigate these risks. By proactively managing risks, organizations can safeguard their digital assets and maintain business continuity.

Energy and Utilities

The energy and utilities sector faces various risks, including environmental hazards, regulatory compliance issues, and supply chain disruptions. Effective Risk Management in this industry involves assessing the potential risks associated with energy generation, transmission, and distribution, and implementing preventive measures to mitigate them. By managing risks, energy and utility companies can ensure reliable operations, minimize environmental impact, and maintain regulatory compliance.

Aviation and Aerospace

The aviation and aerospace industries deal with risks related to flight operations, maintenance, safety, and regulatory compliance. Risk Management in this sector involves analyzing potential risks, such as equipment failures, human errors, and security threats, and implementing safety protocols to mitigate them. By adhering to rigorous Risk Management practices, airlines and aerospace companies can ensure safe and efficient operations.

Jobs in Risk Management

Risk Management is a crucial aspect of various industries, and professionals with expertise in this field are in high demand. If candidates are considering a career in Risk Management, here are some job options that they can explore:

Job Profiles

Job Description

Qualification

Risk Analyst

As a risk analyst, your primary responsibility would be to identify and assess potential risks within an organization

Bachelor's degree in Statistics, Economics, Finance or another business-related degree

Compliance Officer

Compliance officers ensure that organizations adhere to relevant laws, regulations, and internal policies

Degrees in Law, Business Administration or Information Science

Risk Manager

Risk managers are responsible for developing and implementing risk management strategies within an organization

Graduation

Insurance Underwriter

Insurance underwriters evaluate insurance applications and assess the level of risk associated with insuring individuals or organizations

Courses in Mathematics, Business, Economics, and Finance

Business Continuity Manager

Business continuity managers ensure that organizations can continue to operate in the event of a disaster or major disruption

Bachelor's degree in Business Management, Computer Science, Disaster Management, or a related field

Fraud Investigator

Fraud investigators specialize in identifying and investigating fraudulent activities within organizations

Bachelor's degree in fields like Business, Criminal Justice, or in any related field

Risk Consultant

Risk consultants provide expert advice and guidance to organizations on managing risks effectively

Bachelor's degree in Information Systems or a related field

Market Trends in Risk Management

In recent years, there have been several market trends that have significantly impacted the field of Risk Management. The following points will explore some of these trends and their implications for businesses.

  • Increasing Reliance on Technology: With advancements in artificial intelligence, machine learning, and big data analytics, organizations now have access to powerful tools that can help them identify and analyze risks more effectively. These technologies enable businesses to automate risk assessment processes, detect patterns, and make data-driven decisions. 
  • Growing Focus on Enterprise-Wide Risk Management: Traditionally, Risk Management was often siloed within different departments or business units. However, organizations are now recognizing the importance of taking a holistic approach to Risk Management. By implementing enterprise-wide risk management frameworks, businesses can align risk management strategies with their overall corporate objectives. 
  • Globalization of Business Operations: As companies expand their operations into different regions, they face a wide range of risks, including geopolitical uncertainties, regulatory compliance issues, and currency fluctuations. To manage these risks effectively, organizations are adopting a more proactive and dynamic approach. This involves conducting thorough due diligence before entering new markets, closely monitoring political and economic developments, and implementing robust contingency plans to mitigate potential risks.
  • Increasing Importance of ECG factors: The increasing importance of environmental, social, and governance (ESG) factors has had a significant impact on Risk Management practices. Organizations are now expected to consider sustainability and ethical considerations in their decision-making processes. Failure to address ESG risks can have severe reputational and financial consequences. As a result, businesses are integrating ESG Risk Management into their overall risk frameworks, ensuring that they are equipped to identify and mitigate these risks effectively.

Salaries of Risk Management Professionals

The table given below lists the salaries of different Supply Chain professionals:

Job Profiles

Average Salary

Risk Analyst

INR 6.9 LPA

Compliance Officer

INR 4.7 LPA

Risk Manager

INR 14.3 LPA

Insurance Underwriter

INR 8.1 LPA

Business Continuity Manager

INR 14.5 LPA

Fraud Investigator

INR 3.8 LPA

Risk Consultant

INR 9 LPA

Best Companies to Work for in Risk Management Industry

The following are the top recruiters that employ aspirants in the Risk Management industry:

Top Recruiters

Vantage Insurance Brokers

HDFC Standard Life Insurance

Wizkid Consultants and Financial Services

Educational Institutions

ICICI Prudential

SBI Life Insurance

Tata AIF life

Birla Sun Life

Om Kotak Mahindra

ING Vysya Life

Crypsis

Reliance

What Will You Learn in Risk Management?

In a risk management course or training program, students will learn a wide range of knowledge and skills to effectively navigate the complexities of risk management. Some of the key areas covered in such programs include

  • Risk identification: Participants will learn techniques and tools to identify potential risks across different areas of an organization. 
  • Risk assessment: Once risks are identified, participants will learn how to assess the likelihood and potential impact of each risk. 
  • Risk analysis: Participants will learn how to analyze risks in more depth, including understanding the root causes and underlying factors that contribute to their occurrence. 
  • Risk mitigation: This aspect of risk management focuses on developing strategies and implementing measures to reduce the likelihood and impact of identified risks. 
  • Risk monitoring and control: Effective risk management requires ongoing monitoring and control to ensure that risks are managed appropriately. 
  • Risk communication: Communication plays a crucial role in risk management. Participants will learn how to effectively communicate risks to stakeholders, including management, employees, and external parties. 
  • Regulatory compliance: Risk management is closely linked to regulatory compliance in many industries. 
  • Risk culture and governance: Building a strong risk culture and governance framework is essential for effective Risk Management. 

Important Risk Management Frameworks 

The following are important Risk Management frameworks that one must be aware of:

  • Casualty Actuarial Society (CAS) ERM Framework: The CAS ERM Framework is based on the principle that risk management should be integrated into an insurer's overall business strategy and decision-making processes. It emphasizes the importance of understanding the full spectrum of risks faced by an insurer, including operational, financial, strategic, and reputational risks.
  • Committee of Sponsoring Organizations of the Treadway Commission (COSO) ERM Framework: It is a widely recognized and utilized framework for enterprise Risk Management. COSO is a private sector organization dedicated to providing thought leadership and guidance on internal control, enterprise risk management, and fraud deterrence.
  • International Organization for Standardization (IOS) ERM Framework: It is an independent, non-governmental international organization that develops and publishes standards to ensure the quality, safety, and efficiency of products, services, and systems. The ISO ERM Framework provides a systematic approach to identifying, assessing, and managing risks across all levels of an organization. It is designed to be flexible and adaptable to different industries, sectors, and sizes of organizations.
  • Risk Management Society (RIMS) ERM Framework: The RIMS ERM Framework is designed to help organizations identify, assess, and respond to risks that may impact their objectives. It provides a systematic process for managing risks across the entire organization, taking into account both internal and external factors.

Challenges and Opportunities in Risk Management

Risk management plays a crucial role in ensuring the success and sustainability of businesses in today's complex and dynamic environment. However, it is not without its challenges. The following pointers explore the key challenges faced by organizations in Risk Management and the opportunities that can arise from effectively addressing these challenges.

Challenges in Risk Management

The challenges faced in Risk Management are as follows:

  • Uncertainty and Complexity: Risks can emerge from various sources, including economic, technological, regulatory, and social factors. Managing and assessing these risks requires a comprehensive understanding of the organization's operations, as well as the external factors that can impact its performance.
  • Lack of Data and Information: Another challenge in Risk Management is the availability and quality of data and information. Making informed decisions and accurately assessing risks require reliable and up-to-date data. 
  • Rapidly Evolving Risks: Risk landscapes are constantly evolving, driven by factors such as technological advancements, market trends, and regulatory changes. Organizations need to continuously monitor and adapt their risk management strategies to address emerging risks effectively. 
  • Balancing Risk and Reward: Risk management involves striking a delicate balance between risk and reward. Organizations need to make strategic decisions that maximize opportunities while minimizing potential risks. 

Opportunities in Risk Management

The opportunities faced in Risk Management are as follows:

  • Enhanced Decision-Making: Effective risk management provides organizations with valuable insights that can inform decision-making processes. By understanding and quantifying risks, organizations can make informed choices that align with their strategic objectives. 
  • Competitive Advantage: Risk management can be a source of competitive advantage for organizations. By proactively identifying and managing risks, companies can gain a reputation for resilience and reliability, which can attract investors, customers, and other stakeholders. 
  • Innovation and Growth: Risk management can foster innovation and drive growth. By systematically assessing risks and implementing appropriate risk mitigation strategies, organizations can create a culture of innovation and experimentation. 
  • Regulatory Compliance: Effective risk management practices help organizations comply with regulatory requirements. By identifying and addressing potential risks, companies can ensure compliance with laws and regulations, avoiding legal penalties and reputational damage. 

Risk Management FAQs

Q. Why is Risk Management important?

A. Risk management is a crucial aspect of any organization or business. It involves identifying, assessing, and prioritizing potential risks and taking appropriate actions to mitigate their impact. The importance of risk management cannot be overlooked, as it plays a vital role in ensuring the sustainability and success of an organization.

Risk management is of utmost importance to organizations. It helps in minimizing losses, making informed decisions, maintaining regulatory compliance, enhancing stakeholder confidence, adapting to changing environments, and fostering a culture of accountability. By prioritizing risk management, organizations can safeguard their interests and achieve long-term success.

Q. What are Risk Management courses?

A. Risk management courses are educational programs that focus on teaching individuals and organizations how to identify, assess, and mitigate risks in various fields. These courses provide participants with the knowledge and skills necessary to effectively manage risks and protect their businesses or projects from potential threats.

The primary objective of risk management courses is to equip participants with the ability to anticipate and respond to potential risks in a proactive manner. Students learn how to assess the likelihood and impact of risks, develop strategies to minimize or eliminate them, and implement risk management plans to ensure the smooth operation of their ventures.

Risk management courses cover a wide range of topics, including risk identification, risk assessment, risk analysis, risk mitigation, and risk monitoring. Participants learn about different types of risks, such as financial risks, operational risks, legal risks, and strategic risks. They also learn about various risk management tools and techniques, such as risk registers, risk matrices, and risk assessment frameworks.

Q. Is Risk Management a good job?

A. Risk management is an essential function in any organization, involving the identification, assessment, and mitigation of potential risks. It plays a crucial role in ensuring the stability, growth, and long-term success of businesses across various industries. The following pointer aims to evaluate whether risk management is a good job, considering the benefits, challenges, and future prospects associated with this profession.

  • In an unpredictable and volatile business environment, risk management professionals are in high demand. The increasing complexity of risks necessitates their expertise, ensuring job security in the long run.
  • Risk management is a specialized field that requires a unique skill set and knowledge base. As a result, professionals in this field often command competitive salaries and benefits.
  • Risk management professionals have the opportunity to work in various industries, including finance, insurance, healthcare, manufacturing, and technology. 
  • The diversity in Risk Management allows for career growth and the chance to gain expertise in different sectors.

Q. What is Risk Management scope?

A. The career scope of Risk Management is vast and promising. In today's complex and uncertain business environment, organizations across various industries recognize the importance of managing risks effectively. As a result, the demand for Risk Management professionals has increased significantly in recent years.

  • Risk Management professionals play a crucial role in identifying, assessing, and mitigating potential risks that could impact an organization's financial stability, reputation, and overall success. 
  • The career options within the field of risk management are diverse and can be found in various sectors such as finance, insurance, consulting, healthcare, and government. 
  • They provide expert advice and guidance on risk management strategies and help organizations develop and implement effective risk management frameworks.
  • Risk Management professionals can also pursue opportunities in academia and research, where they can contribute to the development of new risk management methodologies and best practices.
  • With the increasing importance of risk management in today's business landscape, professionals in this field can expect a promising and rewarding career path.

Q. Which is better CA or FRM?

A. Chartered Accountant and Financial Risk Management are two distinct fields within the realm of finance. While both professions require strong analytical skills and a deep understanding of financial principles, they encompass different areas of expertise and serve different purposes within an organization.

Candidates can check the table below to know the comparison between the two courses.

Particulars

Risk Management

Chartered Accountant 

Course Level

UG, PG, Diploma, Certificate

Certification

Course Fee

INR 80,000 - INR 5 Lakh

INR 4,000 - INR 5 Lakh

Course Duration

2-3 years

6 months - 4 years

Entrance Exam

CAT, MAT, XAT, CMAT, NMAT

CA Foundation, CA IPCC, and CA Final course

Popular Colleges

Chandigarh University, IIM Lucknow, IIRM Hyderabad, RV University, etc.

ICAI, Indian Institute of Finance and Accounts, Zell Education, Vista Academy, etc.

Job Profiles

Risk Analyst, Risk Manager, Credit Risk Analyst, Market Risk Analyst, Regulatory Risk Analyst, etc.

Accountant, Finance Manager, Accounting Manager, Business Analyst, Chartered Engineer

Average Annual Salary 

INR 1 LPA - INR 3.1 LPA

INR 2 LPA - INR 16 LPA

Top Recruiters

Accenture, American Express, Netscribes, Capgemini, Morgan Staley, Reliance Mutual Fund, etc.

KPMG, Deloitte, Ernst & Young (EY), Lodha & Co., PriceWaterhouseCoopers (PWC) etc.

Popular Risk Management Colleges in India

Following are the most popular Risk Management Colleges in India. Learn more about these Risk Management colleges (Courses, Reviews, Answers & more) by downloading the Brochure.
1 Course
24.2 L
24 LPA
1.54 L - 4.28 L
2.4 - 4.1 LPA
Ranked #3 Private University in India. Placement with Fortune 500 Companies
4 Courses
540 - 27.5 K
8.62 LPA
3.2 L - 10 L
3.75 - 7.25 LPA

Banking, Finance & Insurance Applications open. Apply Now

2 Courses
2 L - 13.72 L
10.5 LPA
4 Courses
1.01 L - 14 L
9 - 11.59 LPA

Popular Private Risk Management Colleges in India

11 Courses
3.2 L - 10 L
3.75 - 7.25 LPA

Banking, Finance & Insurance Applications open. Apply Now

1.14 L - 1.99 L
3.5
1.78 L - 5 L
6 LPA
1.2 L - 3 L
3 Courses
3.1
3.2
5.0
4.0

Popular Risk Management UG Courses

Following are the most popular Risk Management UG Courses . You can explore the top Colleges offering these UG Courses by clicking the links below.

UG Courses

Popular Risk Management PG Courses

Following are the most popular Risk Management PG Courses . You can explore the top Colleges offering these PG Courses by clicking the links below.

PG Courses

Popular Exams

Following are the top exams for Risk Management. Students interested in pursuing a career on Risk Management, generally take these important exams.You can also download the exam guide to get more insights.

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