Risk Managers help in determining and assessing the potential risks, its impact, and measures to reduce it through various mitigation plans. In case, you’re planning to have a career in risk management, the following excerpts from an interview with our client will guide you.
Interview with Mridul Sharma, who has 6+ years of experience in Risk Management in an MNC Consulting company
Proschool : Please tell us about your background and qualifications.
Mridul : I have a BE in Electronics and Communication post which I did an MBA in Finance. I then pursued and completed FRM, PMP certifications and have also cleared CFA L1.
Proschool : Why did you decide to pursue this career and how did you get into this role?
Mridul : Coming from an engineering background I was always interested in the quantitative aspect of analyses and found myself pursuing this career to build on my strengths while keeping my interests in finance in mind. I got through my job by applying online
Proschool : Your current role and a typical day?
Mridul : I’m currently a Risk Consultant – Delivery (multiple projects). On a typical day, I perform regulatory requirement analysis, current Project analysis, interact with stakeholders and vendors, identify gaps (requirement as well as planning) and strive to close them through stakeholders
Proschool : High points in your career so far?
Mridul : Several come to mind, but I felt great when the Rating Models developed by me were adopted by an MNC as a standard offering for the region
Proschool : Important projects you have worked on?
Mridul : I have worked on numerous projects in terms of variety and complexity. All projects were with Corporate and Investment Banks
Proschool : Challenges faced?
Mridul : Some of the challenges faced are changing regulations, inconsistent rules across geographies (subsidiary related work), no standard processes at the client’s end, the unaccountability of ownership, duplication of work, low budget, clashing business requirements and unreasonable delivery expectations from business
Proschool : Outlook for the industry?
Mridul : The Financial Services industry is recovering slowly. The risk is picking up momentum through regulatory initiatives. More and more clients are becoming aware of the benefits of doing additional or advanced risk management work than what the regulators demand
Proschool : Career opportunities for aspirants in India (and elsewhere)?
Mridul : Consultancies and Banks are primary employers for Risk Management talent. There is a lot of demand for people specialized in Quantitative Risk Modeling
Proschool : Word of advice for aspirants?
Mridul : Focus your career towards the goal of getting into a Risk Management profile. Choose relevant subjects during your postgraduate program. Enrol for either FRM or PRM. Apply outside the campus as well. Keep trying to get into a risk related project/profile even when you are not recruited directly into a risk department and build up your risk-related skills through reading updated regulations, attending relevant seminars and workshops