Risks – strategic, operational and regulatory – are inherent to any business process and decision. In fact, the role of the Manager is to manage the ‘Risks’ – to take some and move ahead with due caution, and to ensure avoiding some. A focussed assessment of ‘Risks’, especially the ones with high probability and impact, is essential to enable managers to chalk out the mitigation actions, backed with appropriate resources and prioritization. This is where trained risk professionals can add immense value.As of now, there are hardly any trained risk professionals in India. The Global Risk Management Institute (GRMI) initiative to address this vacuum is a pioneering step and will be of great value to the Indian industry.