Currently, I am a financial professional, having accomplished my undergraduate degree in financial management. Before graduating from the University, I pursued two A-levels in Fraud and Risk Management. I discovered my potential in financial analysis which triggered my zeal to advance in this area and converge in fraud examination. After graduating with the MSC Financial Engineering and Risk Management, I wish to improve my performance metrics in risk management within the financial sector. Risk management is a central department for all types of firms worldwide (Greenwood & Scharfstein, 2013). In three years time, I will be able to monitor and deliver in a risk management department particularly within a financial institution of any profile. However, to enhance my confidence, I will join a graduate scheme beyond which I will be able to lead a whole financial department independently. Subsequently, I anticipate becoming a Certified Fraud Examiner not only in my former firm but also anywhere else.
In the pursuit of this course, I foresee some challenges that are pertinent to the realization of my dream. First, the cost of college attendance and the complex nature of the entire financial process place a significant challenge to my undertakings. To overcome this, I have already established a good relationship with some trustworthy advisors who will help me advance through the course. One of the main concerns in the financial industry recently has been the recruitment and retention of top talents and professionals. For instance, in 2015, research involving financial institution sampled randomly worldwide showed that 51 percent of all firms analyzed suffered challenges while attempting to recruit highly qualified financial specialists such as accountants, risk managers as well as fraud examiners (Gray & Jobst, 2015). These are some of the foreseeable challenges, three years after graduation. However, based on my individual traits like being innovativeness, I will overcome and realize my long-term goals.
In order to excel in this field, however, one of my long-term goals is to become a chief risk management officer in the financial industry, fraud detection, and prevention notwithstanding. In particular, I would like to remain in the financial sector which I have a special interest in. During my service, I will develop special task force within the risk management department under special provisions or tools provided to me by innovativeness. The task force will create an avenue for enhanced service delivery anchored on early detection and prevention or a proactive approach to risk management. The prospects of risk prevention are more important than risk determination and resolution. More often risks occurrences often happen alongside reputational damage which is hard to resolve (Christoffersen, 2012). This explains the importance of prevention. Besides, I would like to earn a significant management position in a medium-based financial institution through which I will use my expertise and influence to raise its standard to one of the most reputable financial institutions.
Regarding my best fit skills, high financial wit is one of the prime skills needed in financial risk management (Christoffersen, 2012). I will be able to detect any anomalies as fast as possible due to my professional accomplishment. Besides, it is also important to be ethically sound to avoid compromise while dealing with other parties either corporate or individuals in the financial sector. Besides, I should have interpersonal skills as I engage different persons, particularly in my managerial positions. Efficient management of human capital is essential for the mitigating risks from the corrupt workforce which is a constituent of business risks.
Christoffersen, P. F. (2012). Elements of financial risk management. Academic Press.Gray, D. F., & Jobst, A. A. (2015). New directions in financial sector and sovereign risk management. Journal of Investment Management (JOIM), First Quarter.Greenwood, R., & Scharfstein, D. (2013). The growth of finance. The Journal of Economic Perspectives, 27(2), 3-28.
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