My learnings at GRMI & What can you expect?
Robin Singh, PGDRM July ’21-22
Only after working at a bank did I realize that I could establish a career in Risk Management. I wanted to study more about this topic, such as what it is, what the future holds, and other related topics. My quest came to an end when I discovered Global Risk Management Institute’s PG Diploma in Risk Management course, which as per other alumni is one of India’s best job-oriented courses after graduation. This is also India’s first college that offers a comprehensive overview of risk management. From the beginning of the concept of ‘Risk,’ through how to confront, manage, and mitigate it.
We learned about Financial Risk management and hedging tactics in the banking industry; at GRMI, we learn about FRM and hedging procedures at a higher level. There is another similar course called the Financial Risk Management course, as we well know. Many students believe that this is a direct competitor of the Financial Risk Management course, however, I do not believe that this is the case.
We only learn about financial risks in Financial Risk Management, but in the Risk management course offered by GRMI, we learn about operational risks, financial risks, non-financial hazards, and a variety of other risks that firms do not mention.
All of the other dangers are linked and interdependent. As a result, if businesses avoid taking any risks, they may face a variety of problems. We’ve previously seen the ‘Yes Bank’ case and the ‘DHFL Saga’ in the past. Risks and risk interconnectedness have been avoided by corporations. We also learn about Enterprise Risk Management (ERM) in GRMI, it is the most rapidly evolving topic in the world right now. In the current phase, we have seen that Enterprise Risk Management (ERM) is widely used outside India, but I believe that many Indian companies, even those that are well-established, are still hesitant to implement ERM.
But coming to post-pandemic, now the organizations have realized that they have to adopt ERM. The company’s risk culture must be strongly ingrained. They can only attain their goals if they have strong risk culture.
Internal auditing is also taught at GRMI. Internal audits have always been a part of my life, just as they are in banking. So I’ve always been fascinated by the idea of working on that side, as an Internal Auditor. That opportunity came from GRMI. Yes, you may become an internal auditor by developing yourself, developing features and characteristics, and acquiring the necessary knowledge and skillset.
Internal Audit’s entire focus is also coordinated with risk management measures. As a result, Risk Management and Internal Audit are brought together. If any of these items are lacking, the organization’s goals will be impossible to achieve in a timely and effective manner. Yes, and since the pandemic, businesses, corporations, consulting firms, and investment banks have realized the value of risk professionals.
More from our students: