The analytics industry has been continuously advancing and India is becoming an emerging hub for analytics solutions across the globe. As the demand keeps growing exponentially, the sector is bound to witness rapid growth.
Within analytics, risk analytics is one segment which has lately been under the spotlight because of its increasing demand. Studies estimate that the global risk analytics market is likely to more than double itself to reach USD 50 Billion by 2020. This significant growth in the risk analytics market can be attributed to the rising need of organizations to minimize their losses which are incurred due to risks, maximize their ROI, and enhance the decision making process.
With growth in risk analytics, the requirement for talented risk analyst professionals is also on the rise. And because of the already existing shortage of talent pool in analytics industry, the demand for Risk Analytics Professionals is extremely high converting into huge salary packages for the analytics professionals.
About Great Lakes
Founded in 2004, Great Lakes Institute of Management is one of the top B-Schools in India. Led by exceptional academic faculty, steered by an outstanding advisory council and buoyed by the international collaborations, Great Lakes has, within a short span of 10 years emerged as a top-ranked business school.
Great Lakes’ Post Graduate Program in Business Analytics, started in 2013, is India’s No 1 Business Analytics Program. Since its launch, the program has trained 1000+ working professionals with almost 66% of Great Lakes PGP-BABI alumni transitioning into analytics roles and profiles within 6 – 12 months from graduating from the program.
Introducing CFRA & its features
The Great Lakes Certificate Program in Financial Risk Analytics is an industry collaboration specialized program designed for professionals who want to build their careers in the financial risk analytics industry.
The program begins with a primer in statistics and is followed by laying a strong foundation in quantitative methods, financial instruments and markets. With the requisite statistical and financial foundation in place, the candidates then get trained on exhaustive modules, techniques and case studies in Market Risk and Credit Risk.
One of the defining features of the program is the coverage of Basel implementation comprising a thorough understanding of Basel Norms followed by its implementation aspects such as IRB, Risk capital calculations, CCAR, Capital adequacy, calculation of risk weights etc.
The program is internationally recognized and is a dual certificate program. The participants will get certification from Illinois Institute of Technology, Chicago (USA) in addition to the certificate from Great Lakes Institute of Management.
Dr. Bappaditya Mukhopadyay, Program Director (CFRA) on introduction on CFRA “Great Lakes has been a pioneer in high quality analytics education in India with our executive program in Business Analytics being consistently ranked as the best in the country. Having delivered over 250,000+ hours of analytics learning content to working professionals in India and abroad, we have collaborated with the industry to develop a dedicated analytics program in Financial and Risk analytics – CFRA.”
Why the need for this course/specialization?
Risk Analytics has been an area of interest to companies and organizations are looking to create a talent pool which can help them gain deeper insights into this field. There is tremendous demand for risk analysts due to the gap in the demand and supply of analytic professionals worldwide. And India is arising as a hot destination globally for analytics talent due to the skill sets possessed by professionals in India.
Great Lakes being a premier institute in India for analytics is constantly approached for providing analytics talent pool and with rising need in the risk analytics area; companies are looking for talent pool with specialization in Risk Analytics. These requirements from the industry propelled Great Lakes to collaborate with industry to offer a program in Risk Analytics.
CFRA has been designed as a specialized program catering to the Analytics industry need of more- trained talent in financial and risk analytics. If you take a quick glance of all the analytics profile the industry is seeking, finance and risk analytics tops the list by far. The industry needs analytics professionals who have the analytical ability to identify, measure and mitigate financial risks within the overall regulatory framework. This would mean a program that blends the market risk, the credit risk as well as the operational risk within the overall Basel guidelines.
Dr. Bappaditya Mukhopadyay commented “Through this program, the participants must be able to value simple as well as complex financial products, understand and develop risk models as well as inculcate the abilities to implement Basel requirements and CCAR.”
Details of the CFRA Program
Who is it for?
Great Lakes CFRA program is ideal for candidates who wish to excel in the domain of risk analytics. Candidates should have a minimum of 2 years of experience while applying to the program. While a prior work experience in banking, finance or consulting is an advantage, candidates from other industries (such as IT/ITES) serving financial clients are also a good fit.
What to expect?
On completion of the program, a candidate must be able to appreciate and solve the following problems:
- How does a financial institution identify, measure and manage market risk
- How are credit risk models developed and validated
- How are stress testing of such models undertaken
- How are regulatory capital (CCAR) calculated
- How to set up systems that comply with Basel guidelines
The curriculum entails exhaustive coverage of academic concepts blended with rich industry exposure and hands-on training to ensure that the candidates graduating from CFRA program are industry ready.
The program duration is 6 months and is a combination of weekend classroom sessions, online lectures and recorded videos / pre-reads. The program covers 160 hours of learning comprising 100 hours of classroom learning and 60 hours of online learning. The calendar is designed such that most classes are conducted on weekends and public holidays, thereby causing minimal disruption to the work schedule.
Fee for the program: The fee for the program is Rs.3, 00,000 exclusive of Service Tax
Batch Commencement Dates: December 2016