Interested in the lucrative world of credit risk analytics? But lack the domain knowledge and technical capabilities to make the cut?
In a first-of-its-kind course, with its eyes trained on the global market, Genpact, a global leader in digitally powered business process management and transformation and Ivy Professional School have come together once again with an industry intensive, domain-centric program tailored specifically to Financial Risk Analytics – Quantitative Risk Analytics Professional Executive Course (QRA).
Genpact and Ivy Professional School’s association goes back to 2012 when they launched the Risk Academy aimed at tapping freshers and training them to produce a steady stream of talent at entry level. “The program was a tremendous success, and building on the success of the Level 1 program, Genpact and Ivy have decided to launch Level 2 program which QRA is essentially to create an ecosystem of trained resources in risk analytics. QRA is specifically custom made, with credit risk analytics at its core and the major distinguishing factor is the proprietary knowledge and vast experience in BFSI that Genpact will bring to the table,” said Kiran Kumar, Vice President, Service Delivery Lead, Financial Risk Analytics, Genpact India.
What led to the rise of Credit Risk Analytics professionals
The financial market underwent a paradigm shift with the mortgage crisis in 2008-2009 that gave rise to a new set of regulations and multiple guidelines to make the banking industry safer and stronger, Genpact’s Financial Risk Analytics VP Kiran Kumar shared with Analytics India Magazine in an exclusive chat. With that, the banks needed to comply with a new set of guidelines and manage and measure risk in their portfolio better. This in turn spawned the need for Credit Risk Analytics professionals across the geographies with technical expertise such as statistical modelling and domain expertise. There is a need for professionals who have an ability to overlay data analytics and perform statistical modelling, all this with business insights, he noted.
India’s talent gap is heavily underscored by the latest CRISIL report that pegs the current number of professionals in Risk Analytics market in India at s 5,200-5,300. By 2020, the number of people required in risk analytics in India is expected to triple. Overall, the Indian Risk Analytics industry is expected to quadruple to USD 2.5 billion by 2020. Given that India is the preferred destination for business, since most of the companies are serving global clients, analytics accounts for 25% of revenue and IT service segment is another major contributor.
Here are some hard facts about the course:
Type: Classroom and Online (classroom learning takes place in Bangalore over the weekend and students can also learn online)
- Skill Level: Advanced
- Duration: 3 months
- No of seats: 20
- Accreditation: Certificate
- Fee: INR 94,500 + taxes
- Primer Module (no extra cost): 38 hour training on Statistics for risk modeling using SAS & SAS programming (base SAS and Advanced SAS) for students with no prior training in analytics
- Credit Risk Analytics Module: 116 Hours
- Total Duration: 8 to 9 weeks – 8 hours per Saturday and Sunday
- Start Time: January 2017
- How to Apply: Send your CV to info@ivyproschool.com
Course
Co-created by Genpact’s senior Risk Analytics experts and Ivy Pro School faculty members, the three-month program gives an equal thrust to regulatory norms and advanced risk analytics. The course covers the basics of Credit Risk Foundation, fundamentals of Risk Modelling, and a deep dive in Risk Modelling with clustering, decision-trees, advanced modelling techniques — Neural Networks (pros/cons), support vector machines and how they are implemented in risk analytics. There is also an in-depth dive into regulatory topics such as BASEL, CCAR, and DFAST Implementation, ARIMA, credit risk models like loss forecasting, PD, LGD and EAD, banking regulations.
The academic lead from the Ivy Pro School faculty team for this course brings solid 10+ year experience in Risk analytics with American Express (AMEX) and other risk analytics firms. She has a strong base in developing strategies using quantitative statistical tools (SAS) and models and setting up fraud detection frameworks to identify and mitigate losses. Students will also benefit from real, industry specific guest lectures imparted by Genpact’s senior management.
Industry intensive experience from Live Case Studies
One of the major differentiator for the program is the live case studies that would be conducted using the techniques and methodologies that are currently being used in the Risk Analytics industry. And Genpact’s senior Risk Analytics experts from the global risk analytics team would share their industry experiences through these case studies. “There will be handpicked live case studies and we will be replicating the techniques and methodology applied in real life scenarios. The resources will be trained in how to enrich data, validate the models and how to tap it up with regulatory guidelines and use individual judgment in business,” said Kiran Kumar.
- Survival Analysis
- Penalized Models
- Hazard Models
- ARIMA
- Credit Score Verification Frameworks
- Rare Event Modeling
- Point-in-time and Through-the-cycle Probability of Default (PD)
- How Exposure at Default (EAD) is calculated for Loan Products vs Products with Limits
- Economic Loss Given Default (LGD)
- BASEL, CCAR, and DFAST Implementation
Placement Assistance
Career assistance and placement is a key factor in every program. As the course is yet to roll out in January so we are unable to comment on the placement aspect. However, Genpact revealed that though they are not “committed to any number”, the company will absorb employees on a need-basis. “The placement aspect is mutual, the resources can apply to other companies also but Genpact would definitely give preference to talent generated from L2 program,” shared Kiran Kumar.
Ivy Pro School’s alumni are working across illustrious companies such as KPMG, Deloitte, Wipro, McKinsey, E&Y and Capgemini among others who they will be tapping into for placement assistance.
Why QRA is the right springboard for kick-starting a career in credit risk analytics
We believe Genpact’s partnership with Ivy Professional School as part of a Memorandum of Understanding (MoU) brings a lot of heft to the course. Genpact’s position as a market leader in delivering integrated Credit Risk Solutions, its proprietary knowledge and top-notch technical capabilities deliver great value to the program and is the right platform for creating an “eco-system of trained resources in credit risk analytics industry”. Remember, Genpact’s biggest market is BFSI and as reports indicate, global risk analytics market is billed to reach USD 50-51.0 billion by 2020.
As Prateek Agrawal, Director of Ivy Pro School said, “Genpact adds great value addition in terms of content, the curriculum is co-created by Genpact, students can benefit from guest lectures, live case studies where they will work in real case scenarios with anonymized data. Students will be mentored by industry veterans and to top it all we are offering classroom experience which no one else is offering.”
Here are our Pros:
- Classroom learning (anchored in Bangalore) – makes for an intensive and interactive learning experience
- Classes are available online also
- Genpact’s value addition are manifold — in curriculum, guest lectures, live case studies, mentoring and placement
- Excellent faculty members from Ivy Pro School
- Immersive, industry intensive course
Cons
Since the batch is yet to roll out, there is no precedent for placement
Overall, if you are somewhat in quantitative area and want to build up your knowledge in credit risk analytics and risk management and gain a learning experience, then this certification is right up your alley.
