If you're looking for a thrilling career with high stakes and even higher rewards, then Risk & Financial Advisory is your calling. Why?
First of all, your role as a Risk & Financial Advisory Professional is absolutely crucial in today's ever-changing business world. Risks are everywhere and can greatly affect a company's performance and reputation. But fear not, you'll be there to identify, assess, and mitigate those risks like a pro.
And, let's not forget about the exciting growth opportunities in this field. With the demand for skilled professionals on the rise, the sky's the limit for individuals who possess the necessary skills and expertise.
So, let’s dive deep into the career of a risk & financial advisory professional, and the many growth opportunities that lie with it.
Roles and Responsibilities
A Risk & Financial Advisory Professional's primary role is to assist organizations in identifying, assessing, and mitigating risks to achieve their strategic objectives. They offer a wide range of advisory services, including:
1. Risk Management
Risk & Financial Advisory Professionals work with clients to identify and assess potential risks to their operations, assets, and reputation. They help develop risk management strategies and implement them to mitigate the identified risks.
2. Financial Advisory
They provide clients with financial advisory services to help them make informed decisions related to capital allocation, mergers and acquisitions, divestitures, and restructuring.
3. Forensic and Investigations
Risk & Financial Advisory Professionals help clients in investigating financial fraud, embezzlement, and other financial crimes. They provide insights and recommendations to help clients mitigate these risks.
4. Compliance and Regulatory
They advise clients on compliance with laws and regulations to avoid penalties and reputational damage.
5. Assessing Cybersecurity Risks
With the increasing threat of cyber attacks, Risk & Financial Advisory Professionals help clients in assessing their cybersecurity risks, developing cybersecurity strategies, and implementing them to prevent data breaches.
Average Salary
That India has been experiencing a business boom lately is no secret. This has led to an unprecedented demand for Risk & Financial Advisory experts who can help these businesses manage all kinds of risks. These professionals specialize in financial risk management, compliance, internal audit, and all that jazz that businesses need to stay on the right track.
Because the demand is so high, the average salary for Risk & Financial Advisory professionals according to Glassdoor is an impressive:
INR 8,00,000 per annum
While this figure is just an average, there are a bunch of factors that can affect how much money they make. For instance, if you've got fancy degrees like MBA, CA, or CFA, or you've been in the industry for a while, you can expect to cash in more than the newbies.
What’s more, if you have special skills in stuff like regulatory compliance, data analysis, or information security, you can then definitely expect a fat paycheck.
Growth Opportunities
1. Regulatory Compliance
With the Indian government implementing more and more regulations, Risk & Financial Advisory professionals who specialize in regulatory compliance are in high demand. This involves keeping up-to-date with changes in laws and regulations, ensuring that businesses are in compliance with them, and developing strategies to manage any associated risks.
2. Cybersecurity
In an increasingly digital world, cybersecurity risks are on the rise. Risk & Financial Advisory professionals with expertise in information security and cybersecurity are in high demand to help businesses identify and manage these risks.
3. Data Analytics
As big data continues to grow, Risk & Financial Advisory professionals with expertise in data analytics are in high demand. These professionals help businesses analyze large amounts of data to identify risks and develop strategies to manage them.
4. Internal Audit
Internal audit is an essential function for any business, and Risk & Financial Advisory professionals who specialize in this area are in high demand. They help businesses assess the effectiveness of their internal controls and identify potential areas of risk.
5. Mergers and Acquisitions
With the Indian economy growing rapidly, mergers and acquisitions are becoming more common. Risk & Financial Advisory professionals with expertise in mergers and acquisitions are in high demand to help businesses navigate the risks associated with these complex transactions.
As we all know, risks are constantly evolving, and they can have a massive impact on an organization's performance and reputation. That's where our risk and financial advisory professionals come in! They're the superheroes who identify, assess, and mitigate risks to help organizations achieve their strategic objectives.
And, with the increasing demand for skilled professionals in this field, there are plenty of opportunities for growth and advancement. So, if you're ready to take on the challenge, it's time to focus on acquiring the necessary education, skills, and experience to succeed in this exciting field. Consider an MBA in Risk Management from NICMAR and take your career to greater heights.
