FinTech Risk Management

Go to Course: https://www.coursera.org/learn/fintech-risk-management

Introduction

### Course Review: FinTech Risk Management on Coursera In the rapidly evolving landscape of finance, technology has become both a boon and a bane. The course "FinTech Risk Management," offered on Coursera, is a timely endeavor to bridge the gap between technological advancements in finance and the essential practice of risk management. This course seeks to equip learners with the necessary skills to navigate the complexities that arise in the intersection of Finance, Technology, and Risk Governance. #### Course Overview The "FinTech Risk Management" course provides an in-depth understanding of risk management and corporate governance principles within the finance sector amidst the disruptions caused by Financial Technology (FinTech) and Regulatory Technology (RegTech). It emphasizes critical thinking and analytical skills, enabling participants to assess risks in operations and reputation while ensuring the financial stability of firms. The need for professionals well-versed in these areas cannot be overstated, as firms face increasing scrutiny from regulators and the public alike. This course paves the way for future leaders to develop robust business strategies while maintaining a balanced approach to risk and opportunity. #### Course Syllabus Breakdown 1. **Compliance with Financial Requirements & Government Regulations:** This module serves as the foundation, delving into the financial aspects of compliance and its vital role in risk management. It effectively highlights the gravity of adhering to regulations, as non-compliance can lead to costly fines and potentially catastrophic business outcomes. 2. **FinTech Compliance with Corporate Governance: Objectives, Guidelines, & Policy:** Learners will explore various risk types and their significance in the FinTech context. This module focuses on operational and business risks, underscoring the importance of understanding these elements for effective corporate governance. 3. **IT Compliance & Assurance - Part 1:** This part provides an extensive overview of IT compliance concerning business application development. It examines different methods of system changeovers, allowing learners to appreciate the risks involved in transitioning to new systems while emphasizing the compliance required throughout. 4. **IT Compliance & Assurance - Part 2:** In a world where cyber threats loom large, this module guides learners in developing business continuity and disaster recovery plans. By emphasizing proactive measures, it equips participants with strategies to mitigate risks associated with data breaches and other disruptions. 5. **Peer-Graded Final Project:** The final project offers a hands-on opportunity for learners to apply their acquired knowledge. Participants will investigate the challenges FinTech poses to traditional financial institutions, allowing them to synthesize their learning while developing actionable business strategies. #### Why You Should Enroll The "FinTech Risk Management" course stands out for several compelling reasons: - **Relevance:** In an era where FinTech continues to redefine finance, this course addresses the pressing needs of today’s financial environment. Staying ahead means understanding the risks and regulations that accompany these innovations. - **Expert Instruction:** Taught by industry professionals, this course leverages their first-hand experience and knowledge, offering insights that you won’t find in textbooks alone. - **Practical Application:** The curriculum focuses not only on theory but also provides practical tools and techniques for immediate application within your organization or career. - **Peer Interaction:** The peer-graded final project cultivates a collaborative learning experience, allowing for the exchange of ideas and diverse perspectives on risk management strategies. - **Flexibility:** Available on the Coursera platform, learners have the flexibility to absorb the information at their own pace, making it accessible to professionals juggling multiple commitments. ### Final Recommendation If you are a finance professional, a risk management expert, or someone aspiring to enter the world of FinTech, the "FinTech Risk Management" course on Coursera is a highly recommended investment in your professional development. By understanding the confluence of technology and risk management, you position yourself as a valuable asset to any financial institution, prepared to tackle the challenges of compliance, governance, and operational risks. Don't miss this opportunity to enhance your skills and knowledge in an increasingly vital area of finance. Enroll today and take the first step towards becoming a proficient risk manager in the FinTech landscape!

Syllabus

Compliance with financial requirements & government regulations

In this module, we will focus on the financial perspective of FinTech compliance and assurance. Failure to comply with regulations can result in large fines as well as business failures. However, financial compliance is only one part of risk management for FinTech firms.

In this module, we examine different types of risks and explain why operational risks and business risks are becoming more important to FinTech firms. The second, third and fourth derivatives for different types of risks are explained and compared. Techniques and tools for risk analysis and internal controls are also described.

In this module, learners will gain a overall IT perspective of business application development and compliance in this area. We will examine 3 different system changeover methods when implementing new system & replacing the old system and the comparison. Also we will look into the risks associate with new system development and compliance of change management process.

In this module, learners will gain an overall picture of business continuity plan and disaster recovery plan. It's essential to plan ahead before something bad happen to the systems (e.g. Data breach or cyber hacking) We will discuss the process of creating a business continuity plan for an organisation and the strategies in data back up and restoration policy.

In this module, learners will complete a final project for the course involving research on how FinTech creates new sources of risks & challenges to large existing financial institutions and develop business strategies balancing the risks in operation, reputation and the stability of those firms.