A career in Financial Risk Management
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A career in Financial Risk Management
Personal Statement
Financial Risk Management has always been my forte. Financial Risk Management at graduate level offers immense opportunities for students. It offers learners a chance to gain computational, mathematical, and statistical skills requisite for maneuvering today’s financial needs. This course offers a real chance for the learners to appreciate the dynamics of a rapidly changing business environment. Such skills are valuable when understanding the various risks in the industry, and enable the learner to come up practical skills for navigating the turbulent waters. In addition, being successful in today’s business world requires the learner to have a clear understanding of the psychological and managerial issues that have a direct impact on management of business. Many problems and risks bedevil today’s business. The environment changes rapidly, and this requires competent staff that can address and remedy the situation as it arises. Financial Risk Management is the right course to address these challenges.
I would like to study this course at UCL for a number of reasons. First, this is a public university with a bias towards research. I love doing research because without so, one becomes intellectually redundant. Secondly, UCL has a highly respectable standing in world league tables. This would grant me an opportunity to study and carry out research with the best brains, and by using the most recent publications. The financial world changes rapidly, and this calls for timely and consistent research to keep up with the happenings. Third, the location of the University is ideal for this kind of academic course. London is a major financial hub. The Financial Services Authority (FSA), Bank of England (BoE), and Financial Services Industry (FSI) have a direct and an unwavering interest in the quality of financial analysis and risk management. The collaboration of UCL and these institutions will offer an opportunity for learners to up their analytical skills, develop an interest in entrepreneurial skills, and offer the best advice concerning the financial risk situation.
There is every motivation to study Financial Risk Management. I have always fancied offering practical advice in real situations. There is a high demand for risk management expertise. This is because managing risk is the first step towards succeeding as an enterprise, especially in the prevailing market forces. The conduct of business is now global and understanding risk factors, and initiating mitigating measures is a sure way to get to a winning start. The development of global markets and instruments means there will always be inherent risks in the running of any business. The risk managers must have a clear and concise understanding of credit risk, market risks, operational risks, and liquidity risk. This course handles these areas in a more comprehensive manner, alongside other quantitative risks and the tools requisite for understanding market changes. It would be interesting to learn other changes in risk management when I commence this course.
My academic and professional background makes me ideal for a course in Financial Risk Management. First, I hold a degree in Mathematics, which predisposes me to an analytical mind. Mathematics enables an individual to have a pragmatic and practical approach to problem analysis. I am also a mature student who understands the requirements of graduate studies. I am also efficient, have organizational skills and human skills, and ability to manage myself well. I can also assess situations objectively, and have a sense of self-discipline. In addition, I am forward looking and have a strategic mind, with a keen eye for risk. I have the ability to keep abreast with the volatility of financial markets. Lastly, I have communication skills with the ability to win over teams to my side. Communication also requires an organization to pass relevant information to all stakeholders. It would be imprudent to lie to organizations about actual risk, or to communicate such information ambiguously. The risk manager must have the ability to summarize a lot of information, analyze it, and come up with an honest assessment of the situation. Hence, communication skills are a requisite for a successful financial risk manager.
My programming experience comes from the work I have been doing since the year 2008. During that year, I helped to raise funds for Wenchuan earthquake victims, and helped to organize 30 people of Chinese descent to watch the opening ceremony of the 2008 Olympics. I also represented Chinese students at school, and did voluntary work for a famous singer’s concert. In all these endeavors, I gained praiseworthy reports.
A career in Financial Risk Management has numerous opportunities, given the shifting nature of business operations. I would like to acquire the skills that would enable me to offer faithful and timely advice to organizations on all matters of risk, and to become a trailblazer in my field of specialization. The financial world is prone with many risks. I would like to assist business organizations and investors to understand business environments before investing their resources. This would minimize chances of loss, and would ensure businesses remain sustainable in the end. Finally, completing this course will enable me to play an active role in risk management by learning what is new, and what can potentially affect businesses. This course has the potential to change the way I view the world of finance and risk, and will be the perfect opportunity for me to learn what motivates and excites me. It is my hope that the skills I learn will be of immense value to organizations.
