Post Graduate Diploma in Risk Management | PGDRM Course

Post Graduate Diploma in Risk Management (PGDRM)

IMPORTANT: Admissions open for July'22 PGDRM batch.

Post Graduate Diploma in Risk Management (PGDRM) will include 3 papers on general management topics and

15 technical papers on various facets of Risk Management, such as

  • Enterprise Risk Management (‘ERM’), 
  • Internal Audit (‘IA’), 
  • Sarbanes Oxley and Internal Financial Controls, 
  • Regulatory Compliance, 
  • Financial Risk Management, 
  • Applied Audit Analytics, 
  • Information Technology General Controls (‘ITGC’),
  • Corporate Governance
  • Third-Party Risk Management (TPRM) etc.

The 3 general management papers will focus on enhancing awareness of corporate reality and creating more well-rounded risk professionals of the future. These will include Strategic Thinking, Fundamentals of Human Resource Management, and Organizational Behavior.

One of the key risks of developing and delivering a specialized Risk Domain curriculum is that students should not ever think of Risk expertise in a Silo environment. Good strong professionals need to recognize:

  • How a risk decision impacts an organization’s short-term and long-term strategy, and hence all decisions need to be weighed in that context;
  • That all decisions need to be accepted and internalized by an organization effective implementation, and for that, an understanding of organizational behavior is critical;
  • That all organizations now realize that irrespective of which industry segment they might operate in (including in the most digital interrupted business models), the need for appreciation of Human Resource elements of an organization can hardly be over-emphasized if it wants to be successful.

The above were the key drivers for these general management papers being included as core and mandatory papers of the PGDRM curriculum.

Developmental work for all the Risk Management papers have been led by professionals with a collective experience of 100+ years in the Risk consulting space. These papers have been co-developed and vetted by Global Risk Advisory leaders and industry experts, while working closely with tenured faculty of internationally reputed Universities.

  • SubjectCode
  • Courses Name
  • Credit
  • BRIDGE PROGRAMME
  • SEMESTER 1 (Click on course name for details)
  • 1
  • Business Value Chain and Operating models

    This paper includes understanding of organizational framework models, understanding of strategic, operating and support processes in an organization along with typical value chain components – including planning & budgeting, procurement, vendor management, inbound logistics, manufacturing operations, marketing & selling, and after-sales service. The paper will enable detailed learning of all business processes individually and establish linkages across processes. To make the learning experience relevant we will provide this overview, cutting across industry segments like retail, manufacturing, services, hospitality, banks and telecom, among others.

  • 2
  • Process Mapping, Enhancement and Value Stream Mapping

    The paper will focus on the art of developing process maps for each sub-process, drafting process activities, use of aesthetics and employing industry-accepted symbols for inputs, outputs, interfaces, activity owners, etc. It will also cover nuances in each business process for various industry verticals such as Retail, Service, Hospitality, Financial Services, Telecom, and Manufacturing. Effective depiction of any organization’s current business processes makes for easy and accurate understanding, and is often the first step to getting to recognize gaps, risk and potential improvement opportunities.

  • 3
  • Process Assurance and Operating Efficiency – Part I

    The paper will impart a detailed understanding of the globally accepted COSO (Committee of Sponsoring Organizations of the Treadway Commission) framework on internal controls and explain the role of an audit committee to ensure strong governance standards. The paper will bring out the best practices in internal audit execution methodology, including developing an internal audit plan, scoping, interactions with auditee stakeholders, elements of process understanding, interviewing techniques, 5W analysis, sampling techniques, effective use of analytics in audit, work-paper documentation, importance of management and executive leadership reporting, including format and guidelines, attending management committee and audit committee meetings.

  • 4
  • Process Assurance and Operating Efficiency – Part 2

    The paper will provide a holistic approach to management of business risks through controls, development of risk & control matrix (including control objective, type of control, control ownership definition and frequency of controls), evaluation of control design and effectiveness. The paper will focus on bringing out risks in typical business processes – source to pay, order to cash, inventory, fixed assets, human resource & payroll and best practice controls to mitigate the business risks effectively. The curriculum also includes appreciation of the elements called out in this paper in different industry segment context, similar to the explanations for Business Value Chain and operating models.

  • 5
  • Concepts of Enterprise Risk Management (‘ERM’)

    The paper will focus on understanding of the objective of an enterprise, the types of risks impacting the enterprise, and establish a link between the two. The paper will include various concepts of risks, such as inherent risk, residual risk, impact/ likelihood and velocity of risks, and effective use of controls as risk mitigants. It would also touch upon concepts of risk tolerance and the development of risk scales for an organization, and monitoring and reporting practices of risks in an organization.

  • 7
  • Strategic Thinking

    The paper aims at developing core competency for future business leaders by training them to them to think strategically. It strives to strengthen conceptual cognitive abilities of the prospective leaders by focusing on the nonlinear and divergent nature of strategic thinking. The curriculum covers evolution of strategy, contemporary competing views of strategy, strategic management failure, strategic planning, learning domains and models used for strategic thinking, relationship between organizational environment and strategy and critical attributes to emerge as a strategic leader.

  • 8
  • Sectorial View of ERM

    This paper focuses on deeper understanding and application of concepts of ERM with break-out sessions to facilitate groups to do in-depth studies across various industry verticals, such as Retail, Service, Hospitality, Financial Services, Telecom, and Manufacturing. The learning experience will take students through the entire journey of preparing Risk Heat Maps capturing Inherent and Residual Risks, including drivers for movement of Inherent Risk to Residual Risk and implications of residual risk being higher than the risk tolerance level of the organization for a particular type of risk. GRMI prides itself that this would be the kind of domain expertise gained from experiential learning that sometimes even senior leaders in consulting and corporates in India and globally currently struggle in.

  • SEMESTER 2 (Click on course name for details)
  • 9
  • Internal Controls over Financial Reporting (‘ICFR’ or ‘Sarbanes Oxley’ or Internal Financial Controls)

    This paper will consist of a refresher course on accounting fundamentals, understanding operational controls vis-a-vis financial reporting controls, assertions of financial statements, understanding fundamentals of ICFR or Sarbanes-Oxley (‘SOX’) requirements, SOX planning, SOX audit methodology (scoping, process understanding, documentation, design testing, effectiveness testing, deficiency reporting & remediation), concepts of materiality, material weakness and significant deficiencies.

  • 10
  • IT General Controls

    This will assist in an understanding of the relationship between financial and operational risks with IT controls, concepts of IT general controls, IT application controls, and in the effective use of IT general controls in mitigation of business risks. The key focus of this paper is to ensure that PGDRM graduates should never have to struggle trying to operate around the information system of an organization instead of operating through the information system.

  • 11
  • Third Party Risk Management-TPRM

    The paper will cover the concepts related to third party risk management in an enterprise, including how to identify, assess, manage, mitigate and monitor risks originating from third parties. The paper will focus on regulatory requirements for managing such risks as well as key solution components like segmentation, risk assessments, screening, periodic reviews, etc. to ensure risks are effectively mitigated throughout the third party lifecycle.

  • 13
  • Corporate Governance

    The paper is intended to showcase how robust Corporate Governance practices are key to driving enhanced business performance, generating sustainable growth, and creating wealth for stakeholders.

  • 14
  • Applied Data Analytics

    The paper will not only explain the concept of data analytics and use of data analytics tools such as Excel, Access, ACL, SPS, etc. but also give detailed concepts on application of data analytics for managing risks across business processes such as source to pay, order to cash, fixed assets, inventory etc. Along with ERM We consider this paper to be one of our significant differentiators in terms of what it does to enhance analytical thinking in risk and business context. It is the ability to link the impact of error across various links of a business value chain, and the ability to convert mass of mega data into intelligent and relevant information for effective risk decision making.

  • 16
  • Market, Credit & Operational Risk

    This paper will focus on understanding concepts of the market, credit, operational and treasury risk in an enterprise, including measurement and monitoring of such risks. The intent is to provide an overview of how financial institutions view risk. Given that Risk Management in the financial services world is quite evolved, we will have optional specialization papers, should students choose to pursue any specific area such as Market or Credit Risk in greater depth.

  • 17
  • Regulatory & Compliance Risks

    The paper will cover the key regulatory risks facing global conglomerates – Anti Bribery’ risks (governed by the Foreign corrupt practices Act, UK Anti Bribery Acts, among others), Money laundering risks (governed by AML Acts), and other industry-specific regulatory compliance risks. The paper will focus on regulatory requirements for managing such risks, and development and execution of control frameworks to assess, mitigate and monitor such risks. It will also bring out the concept of four lines of defense in an enterprise, role of the Board of Directors and CXOs in Risk Management, and the liabilities of Directors.

  • 18
  • Digitalization – Evolving Risk Management

    This paper will focus on brining out the enhanced focus of organizations in using technology and automation to drive efficiency and effectiveness in different aspects of Risk Management including but not limited to Internal Audit, Sox testing, Regulatory compliance, Analytics etc. The paper will include the best in class digitized tools and techniques currently being used by organizations to give a practical perspective.

  • INTERNSHIP

 FREQUENCY OF CLASS

6 days a week (for 1 year)

PROGRAM HOURS

640 Hours of Teaching & Classroom time (~36-42 hours per paper)
 

FOCUS OF PROGRAM

Understanding different facets of Risk Management

IDEAL FOR

Candidates possessing a Bachelors’ degree or equivalent with or without work experience and having interest in Risk Management domain.
 

ELIGIBILITY

The candidate must possess a Bachelor’s degree or equivalent, with a minimum of 50% aggregate marks or equivalent in any discipline, from a recognized university in India or abroad (recognized by the UGC / Association of Indian Universities). The bachelors’ degree or equivalent qualification obtained by the candidate must entail a minimum of three years of education, after completing higher secondary schooling under the 10+2 system or equivalent. Candidates appearing in the final year of their bachelor’s degree or equivalent are also eligible, provided they furnish the proof of having met the minimum eligibility criteria of graduation. It is desired that candidates complete all academic requirements before joining the program to enable them to keep pace with the rigorous and internal assessment schedule of the program.

 

PGDRM BROCHURE 

Admission Process and weightage for 1 year PGDRM: 

 

1)Enquiry (Elimination): 

  • Fill the enquiry form for PGDRM on our website. You will receive an automated email with details of the Programme, Brochure etc. (Note: Incomplete forms will not be considered). Please do check your spam box if the email does not fall in your inbox automatically. 
  • Receive a call from our admissions Team to answer your queries and guide you through the process.
  • Research: Go through the brochure, website and connect with our students/alumni. Linkedin profiles of all our students & alumni are mentioned on our Internships & Placement page.

2)Preliminary Interview cum counselling session 

  • Elimination Round: Interview cum counselling round taken by our Programme counsellor (Microsoft teams). Our admissions team will schedule preliminary interview at a mutually convenient time. You will receive the details over an email. Candidates failing to attend will automatically be eliminated from the selection process.  
  • 1st Round Interview and Counselling Call: Weightage-30%
  • Shortlisted candidates need to fill up the Application form within 7 days of discussion. All the applications and the documents required have to be submitted through the online application procedure. Application or documents will not be accepted over emails. The cost of the application fee is Rs. 2,500 including GST (non-refundable), this amount will be adjusted in the programme fees if the candidate is shortlisted and takes up the offer.  Application Form: https://grm.institute/admission/
  • Application Form: Weightage- 30%

3) Selection Round (Elimination): 

  • Personal Interview: Once we receive the application form, an Online Interview will be setup within 7 days of the application.
  • Personal Video Interview with one of our Faculty Members / Board of Director / Programme Mentor will be scheduled online over Zoom. 
  • Results to be announced within 3 days from the interview.
  • 2nd Round of Interview: Weightage-40%

4) Registration & Enrolment for Offered Candidates (Offer): 

  • Receive Offer Letter to the programme on your registered email ID within 3 days. The GRMI Administrative office will be contacting you to co-ordinate and send the hard copy of the offer letter and will share list of documents required for registration. 
  • Registration fee of INR 75,000 (non-refundable) to be paid to reserve your seat (this includes INR 2,500 already paid at the time of application).

5) Finance: 

  • Education Loan, Finance Direct Payment formalities and other on-boarding formalities to be completed within 30 days from the offer letter. 1st Semester fee is to be paid within 30 days from offer letter

Please note: While counselling and interview process is conducted online amidst the pandemic, we do encourage and are open to students in or near Delhi NCR for a Campus visit and in-person counselling sessions or interviews. Please get in touch with the admissions Team or fill the Campus visit form on our website to book a slot for your Campus Visit.   

Semester exams: 

The program year is divided into two semesters of 5 months each. At the end of each semester students will be examined on the modules you have taken.

Both the semesters would last for approximately 20 weeks each, with about 18 weeks of teaching and two weeks of assessment.

Assessment methods:

 All modules have exam-based assessment, case study analysis and workshop participation-based assessment. The weightage of each component may vary for each paper.

GRMI will follow the traditional CGPA score concept and hence students would get a comparative sense of where they stand within their peer group.

We aim to apply very high standards in admitting students to the institute since we hope to be in a position by the end of the first year where our students are greatly in demand on the one hand, and spoilt for choice in potential employers on the other. This will imply that CGPA scores would become tough to secure, and also relevant for future employers as they would secure top talent graduating from GRMI. We are certain that all organizations hiring out of GRMI would be top corporates and risk consulting firms, who would settle for no less than the best talent on campus.

We would be delighted to see this trigger off a compensation tussle amongst some of the large hiring organizations.

Fee for our 1 year PGDRM programme is INR 8.75 Lakhs + GST.

Note 1: The above fee structure is applicable for all Indian national students who are residing in India. For any non-resident Indian or foreign national please contact us for details of our fee structure.

 

 

The GRMI Office of Financial Assistance provides information and assistance to applicants, and once admitted, through the entire time that they are in the institute. We are here to help you navigate through all aspects of the financial aid process.

It is wise to explore a variety of resources to help finance your education. Although students and their families are aware of the many advantages of investing in higher education, many applicants are worried about the increased cost of undertaking a postgraduate program. However, completing a higher education program can contribute to brighter employment prospects, apart from helping you gain the confidence and skills needed to perform diverse and demanding roles in the professional world. All students admitted to GRMI will have access to a number of student loan options made available in collaboration with banks and financial institutions that offer low interest rates and do not require the students or their families to provide collateral. We know that financial aid information is important and can be confusing, so please do not hesitate to contact us with any questions you may have.

SCHOLARSHIPS

Scholarships Awarding Rules  

  • GRMI  Institutional Scholarships apply ONLY toward tuition and fees.
  • Awards are tuition waivers ONLY.  Therefore, GRMI does not permit this type of scholarship to apply towards the cost of books nor may GRMI directly refund it to students.
  • Only award recipients will be notified by GRMI as part of the Student PGDRM Offer Letter.
  • Cessation of enrolment will cause a loss of scholarship.
  • Applicants must be Indian Citizens or eligible non-citizens.
  • Scholarship awards are non-transferable and may affect eligibility for other financial assistance.
  • Scholarship awards are not supposed to be disclosed with alumni, current batch or future batch members at GRMI or anywhere else publicly. The award is strictly confidential and pertains to the awarded student only. Any default may cause a loss of scholarship.
 
Compliance

  Students who submit an application certify the information provided on the application is correct to the best of their knowledge. Falsification of information will automatically disqualify a student from receiving any scholarships. Students agree that if awarded a scholarship, GRMI may share their name and scholarship information with accreditation partners. Any person having inquiries concerning GRMI’s compliance with these regulations may contact the following – director@grm.institute

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