What do you do if you want to improve your grasp of financial risk assessment and mitigation?

1 Understand the basics

Before you dive into the complex and dynamic world of financial risk, you need to master the fundamental concepts and tools that underpin it. These include risk types, risk sources, risk appetite, risk tolerance, risk metrics, risk models, risk frameworks, and risk reporting. You can find many online courses, books, podcasts, and blogs that cover these topics in a clear and accessible way. For example, you can check out the Financial Risk Manager (FRM) certification program by the Global Association of Risk Professionals (GARP), which offers a comprehensive and rigorous curriculum for aspiring and practicing risk professionals.

2 Learn from the experts

One of the best ways to improve your grasp of financial risk assessment and mitigation is to learn from the experts who have extensive experience and insights in this field. You can follow and interact with influential risk practitioners, researchers, consultants, and educators on social media platforms like LinkedIn, Twitter, and YouTube. You can also join online communities, forums, and groups that focus on financial risk topics and issues. For example, you can visit the Risk Management Association (RMA) website, which provides a wealth of resources, events, and networking opportunities for risk enthusiasts.

3 Apply your knowledge

Another way to improve your grasp of financial risk assessment and mitigation is to apply your knowledge to real-world scenarios and cases. You can use online platforms, tools, and simulations that allow you to practice and test your risk skills and strategies. For example, you can use the Risk Simulator software by Real Options Valuation Inc., which lets you perform various risk analysis techniques such as Monte Carlo simulation, decision trees, optimization, and forecasting. You can also participate in online competitions, challenges, and games that involve financial risk problems and solutions. For example, you can join the GARP Challenge, which is a global online competition that tests your risk knowledge and skills.

4 Keep up with the trends

Finally, you need to keep up with the trends and developments that affect financial risk assessment and mitigation. You need to stay updated on the latest news, research, regulations, standards, and best practices that shape the financial risk landscape. You can subscribe to newsletters, magazines, journals, and podcasts that cover financial risk topics and issues. For example, you can read the Risk Magazine, which is a leading publication that provides in-depth analysis and commentary on financial risk management. You can also attend webinars, workshops, conferences, and seminars that feature financial risk experts and practitioners. For example, you can attend the RiskMinds International, which is the largest and most prestigious event for the risk community.

5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?