Most of the #ERM Units / Desks at banks hire Actuaries as Quantitative Risk Experts in either the front or the middle offices.
However, to be a CRO, you ideally ought to know the business model risks, credit underwriting risks (if you are working at a Commercial Bank),
the governance, risk and compliance issues, IT/Data and Cybersecurity related Risk Issues, risk culture, risk attitudes, risk conduct and risk change management processes, DRP and BCP, and the Non -Financial Operational Risks in addition to quantifiable risks such as Credit,
Market and Liquidity Risks that exists across financial markets and asset class/es.
ERM is all about RCA Root Cause Analysis and FMEA - Failure Modes and Effects Analysis! it requires an overall framework to identify, measure and manage the organization-wide risks.
The Most popular Enterprise risk management frameworks used are =>
1. #COSO 2017
2. #ISO31000 STANDARD (revised)
3. #RMM - RISK MATURITY MODEL (RIMS)
4. Financial Stability Board Standards
5. #BASEL Accords (All deposit-taking financial institutions as per BIS Guidelines)
6. @irmglobal - INSTITUTE OF RISK MANAGEMENT ERM Specific Guidelines
7. #GRC Model by OECG
8. #Solvency II Directives (Solvency Capital Requirements as issued by the EU Regulators and endorsed by the other regulators for the Insurance Industry).
Any other ERM Frameworks as and when they apply across different vertical and horizontal industries.
At Investment Banks, Actuaries primarily undertake market risk, derivative portfolio management/ pricing and hedging, and other highly quantitative risk-related assignments.

This all falls within the quantitative portfolio investment management and risk model validation domains.
ERM is a very broad field, which was and is dominated by Chartered Accountants and Auditors who come from accounting/ financial reporting and internal controls backgrounds.

Actuaries are beginning to find a role within this emerging field.
I would recommend the @CityUniLondon as it is truly outstanding for studying this subject.
The university has clout over the insurance industry in the CITY, and most of the top actuaries graduated from this university.

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More from @SAH16928046

Feb 18
Avoid doing superfluous degrees from top-notch academic institutions.
Most of the top academic brand names will help you up to a certain extent, but, what employers are looking for are skills earned from subjects/specializations which can add value to their brands and bottom line
Just recently saw a top-notch social science specialist school offering a degree in #history in conjunction with another excellent #Asian Uni.
The problem is that nobody wants to hire exotic #historians, unless you are applying to work in the civil services or as a journalist.
Beware.
A lot of universities are also advertising all types of degrees from financially #besmirching faculties which aren't contributing much to the university revenues.
So the vultures (FT staff) are offering degrees with a twist to lure innocent students to save their own jobs
Read 5 tweets
Feb 12
Do business school professors need business experience?
Many #PhDs / #DBA's end up in teaching and/or academic business research.
Both are different areas.
For teaching, you have to have practical experiences that you are supposed to share with the classroom.
Many corporate world leaders are the most sought after when it comes to teaching business courses in an #MBA program!
Most of these corporate bigwigs don't have Doctorate degrees, but, even then, universities would like to bring them on board because they have an adequate amount of insights.
Read 10 tweets
Jan 25
It's time topics such as data science, analytics, machine learning and artificial intelligence are made a compulsory part of the higher secondary educational curriculum, everywhere; in addition to teaching regular CS Computer Science distinctly in labs.
Educationists and Educational Technologists must play their due roles in transforming pedantic environments.
Unfortunately, many nations have missed the boat, because they didn't introduce pedagogical cum didactic reforms at the right time.
Skill transfer is a must!
I see so many MBAs who still don't know how to use advanced XLS modelling techniques.
Most of them really suffer when they enter the workplace.
One of my students got sacked because he didn't know what #VLOOKUP or #Lookup #Excel functions are.
Read 9 tweets
Jan 16
To wade off vulnerability, you have to overcome the sense of insecurity and helplessness.
Many individuals are overtaken by this psychological condition, which ruins both their professional and personal lives.
Be strong by commingling with the right people.
#Anchoring
You can learn a lot from both negative and positive aspirations.
Negativity is not an abnormal feeling which we should avoid at all times. It just tells us to be watchful and careful.
Similarly, Positivity helps us to remain optimistic and open-minded.
I, as a middle office risk management professional, have become largely negative about everything.
That is how we work and are trained at firms.
Not a good profession to join if you would like to see the brighter aspects of life.
Regret becoming one!
Read 6 tweets

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