PRM Benefits:- In today’s world of perfection there are so many career options available around the world, but people want to do something unique in terms of their careers. If we take an example of risk management, many people have the questions in their mind that “Why should I go for PRM ?” or “What is the benefit of doing PRM?”
In financial services industry, risk management involves evaluating and quantifying business risks, so the Professional Risk manager is then expected to take measures to control or reduce them.
Risk manager may have to perform generalized function or may have to perform specialized function. As banks and other financial institutions are investing huge amounts for managing the risks, hence jobs in this area are expected to grow in the coming time.
PRM Benefits- Go for PRM if
- You have interest in performing quantitative analysis and risk measuring.
- You want to build on quantitative skills on financial modeling.
- You are seeking for professional certification
- You are looking to communicate your knowledge and understanding of risk management at a higher level to external and internal parties
- You want to be a predictive analyst.
- Career – With this certification your career will get good boost in the field of risk management, trading, structuring and modeling
- Global – It is held in over 160 countries at nearly 5,000 testing centers, the PRM has a true international benchmark.
- Flexible – Candidates can take exams four times in a year.
- Affordable – Fees are affordable in nature and as per economical background discounts are offered.
- Recognition – Partial credit is provided to other designation holders likehttps://www.educba.com/course/online-cfa-calculator-training/, https://www.educba.com/course/financial-analysis-techniques/, ASA’s.
- No Maintenance Fees – No annual fee for maintaining the designation.
- PRM has gained respect in the financial world. It is considered to be one of the most challenging certification program available for financial risk managers.
- It is also publicly endorsed by leading universities and businesses.
- PRM is an indication of your commitment in risk.
- PRM holders have the backing of PRMIA.
- With PRM qualification you can get a shot at a first interview even if you don’t have any or much risk background.
After done with PRM certification, you can look for career opportunities in areas of Risk Management, Trading, Structuring, Modeling, etc.
The lucrative working positions include
- Chief Risk Officer,
- Senior Risk Analyst,
- Head of Operational Risk, and Director,
- Investment Risk Management.
With this certification, you can broaden your search with the terms like Financial Econometrics, Basel norms (I,II,III) etc.
Also PRMIA provides a platform for their charter holders to help them avail some of the best job opportunities currently open in the market.
Within the financial services industry, Generally observed areas where risks exist:
- Defaults on loans
- Losses on inventories from other parties
- Losses on securities investments
Risk managing personnel is expected to employ various financial instruments and contracts to control risks which include:
- Credit Assessment
- Futures Contracts
- Options Contracts
- Forwards Contracts
- Swaps etc.
Dependent on the firm and the position risk managers, time duration can be of 40-50 hours, also sometimes during market conditions or uncertainties it is expected to exceed it.
Salary figures can vary based on factors such as organization policies, industry, geographical location, experience level etc. However following is the generalized figure of risk manager’s salary. Risk managers earn an average salary of $90000 per annum. The observed salary ranges vary from USD 58 K to USD 160 K.
You could wonder is PRM really worth the efforts, time and money. And surely you must have a good thought over this to do a quick comparison between what you invest and finally get in return after the completion of the program. Below I have listed down the main reasons why you should pursue PRM –
- PRM is the most recognized certification course globally for the financial risk managers.
- PRM program is useful in Portfolio Credit Risk Analyst, Enterprise Risk Managers, Risk Advisory Consultants, Operational Risk Analyst, Credit Risk Managers etc.
- Employers considers PRM Designated individual’s expert in risk management because the skills of PRM holder is robust and vital to their business.
- The lucrative working positions for PRM holders includes Chief Risk Officer, Senior Risk Analyst, Head of Operational Risk and Director.