Rapid technological advancement has led to proliferation of complex business procedures, and seamless data transfer introducing risks which can result in large revenue loss for the enterprise. This surged the need for risk managers to safeguard the companies from risks like technologicalÂ and credit that can cause commercial, reputational and stakeholder loss.
The traditional skills of risk managers are not sufficient to address new age risks like cybersecurity as they lack training in advanced technologies. To address this challenge they are evolving with new age skills like data modelling, advanced analytics and AI/ML. Companies need end to end framework of programs to tackle such risks.
The rapid shift from on-premise and private cloud solutions to the public Cloud has resulted in the significant rise in demand for talents with Cloud experience, that can be summarized as hands-on knowledge with Cloud networking, compute, and software stacks.
Organizations are reskilling in house risk management specialists with new age skills like advanced analytics and automation for building risk models that find complex patterns to make more accurate prediction of default and other risks. AI & ML engineers have improved the speed and quality of information analysis, which has applications in risk identification, risk analysis, underwriting, policy wording, reserving.
Organizations are leveraging various online and offline programs for reskilling in house talent to satiate the rising demand for new age risk management specialists. Udemyâ€™s Deeply Practical Project Management course is designed to help cybersecurity and information technology (IT)Â managers in efficient decision making. Organizations and individuals are recognising the value of reskilling in risk management and are building training frameworksÂ for career progression in this rapidly advancing digital space.
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