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  Issue 26 | Archive February 2016

Dr. Slava Obraztsov Talks about Risk Management at Nomura

On 13 November 2015, Dr. Slava Obraztsov, Managing Director of Risk Management at Nomura Group, gave a talk on ¡°Quantitative Risk Management at Nomura.¡± The talk was organized for the students and alumni of RMI¡¯s Master of Science in Financial Engineering (MFE) program, with the aim to provide them with an in-depth knowledge of the rising importance of quantitative risk management. Over 30 participants were present to hear Dr. Obraztsov talk about what role they might be expected to play as future risk managers with a quantitative background.

New regulatory and industry requirements have led to a significant increase of the profiles of quantitative teams within risk management departments. Dr. Obraztsov, who has been the Global Head of the Model Validation Group at Nomura since 2007, explained that these teams are involved in developing capital models to quantify market risk, credit risk, as well as operational risk, describing the importance of each model in detail. In addition, these teams also work on validation of pricing models and risk modelling frameworks. Talking about the risk challenges and their practical considerations at Nomura, Dr. Obraztsov highlighted that recently much attention is paid to model risk, arising from model errors or incorrect or inappropriate model applications, and to overall model risk management process.

Dr. Obraztsov concluded the talk by providing the audience with some insights into the core skills required for a successful career in quantitative risk management. The students and alumni present not only came out of the talk with a more comprehensive knowledge of quantitative risk management but also some great career advice to help them with their future goals.


RMI Welcomes the January 2016 Intake of its Financial Risk Manager (FRM®) Certification Training Program

On 9 January 2016 RMI welcomed the January batch of the Financial Risk Manager (FRM®) Certification Training Program. This program helps prepare professionals from the financial industry for the rigorous examinations to obtain the FRM® certification.

With rapid and consequential changes happening in the financial services industry globally, professionals in related fields are seeing the growing need to demonstrate a globally standardized level of up-to-date industry knowledge, which is the foundation of the two part practice-oriented FRM® examination. Given this the training course at RMI follows the FRM® curriculum closely and provides the certification training program in two parts with two modules each. Participants can choose from the complete course or individual modules that best fit their needs and schedule.

Module 1 and 2 under Part I cover, ¡°foundation of risk management & quantitative analysis¡± and ¡°financial markets and products & valuation and risk module¡± respectively. Module 3 under Part II covers, ¡°market risk and credit risk: measurement and management,¡± while Module 4 focuses on ¡°operational risk, risk management and investment management and current issues in financial markets.¡±

RMI has successfully conducted this Program bi-annually for three years from 2013 and prepared over 140 participants for the examination that takes place twice a year in May and November. The certification is globally recognized and administered by the Global Association of Risk Professionals (GARP), a not-for-profit organization and the only globally recognized membership association for risk managers.

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Published quarterly by Risk Management Institute, NUS
Editor: Shivani Nakhare (rminsr@nus.edu.sg)