Riskworx Academy

The Riskworx Academy was formed with 4 goals in mind:

1. To equip young graduates to become productive members of the financial community.
2. To enable new entrants to the banking community to have a deeper understanding of the banking environment.
3. To provide specialist training courses in those Financial Risk disciplines where Riskworx provides their professional services.
4. To provide Financial Literacy training to everyone who has the potential to help grow the economy.

All these goals have one thing in common: Nurturing The Minds That Shape A Better Financial World

The Riskworx Academy Internship Program

According to STATS SA, the unemployment rate of graduates (age up to 24) was 33% in Q1 of 2019. Stats SA Compare this with the 2018 statistic of 19.5% and it is clear that there is an urgent, desperate need for graduates to be upskilled so that it becomes attractive for the formal sector to employ them.

The Riskworx Academy Internship program selects unemployed graduated - with degrees that are relevant to the banking industry – to participate in an intensive 6 month program that not only covers all aspects of banking, but also teaches hard skills such as programming and data analytics and soft skills such how to present yourself during a job interview.

Through our placement partner, interns who successfully complete the Academy program are introduced to our clients with the ultimate aim of becoming productive members of the banking community.

Understanding Banking

Very few people employed in the banking industry actually understand “how a bank works”. They are deployed in a certain area of the bank (be it in Operations, Compliance, Finance, Risk, Treasury, HR, even at branch level) and all their subsequent training is focused on that area.

This makes for employees who have little or no understanding of “the bigger picture” of banking and prevents them from contributing optimally to their team, their project or the organization as a whole.

Research has proven unequivocally that if a person understands why they are doing what they are doing, they are much more productive, pro-active and eager to contribute. Seeing the big picture makes it so much easier to focus on the part of the picture where you feature.

The Riskworx Academy addresses this vacuum by presenting a series of Action Learning workshops to and ensure that these employees have a broad understanding of all aspects of banking. The workshops range in complexity: From the simplest concepts (such as interest rates, how a bank makes money, retail banking products) through to the inter-relationship between departments, the role of the Treasury, the Regulatory landscape and the financial Risk universe.

Specialist Financial Risk courses

Riskworx is a boutique consulting company focusing on Financial Risk and Quantitative Finance. As such, our consultants and trainers have deep insight and expertise in their specialist areas.

The Riskworx Academy puts these expertise to work in presenting both standard and tailored courses in areas such as Instrument Pricing, ALM, Market Risk, Credit Risk, Capital Adequacy (ICAAP), FTP, Treasury Front Office, Balance Sheet Management, Financial Modelling, Regulatory Risk Frameworks and the effect of Regulation on the bank’s short- and long term sustainability.

Included in this offering is a Bank Simulation course where individuals or teams compete with each other to “run their own bank” in a competing economy that reflects a real-life African environment with high interest rates, limited sources of liquidity, high credit default rates and stringent capital and other regulatory requirements.

Financial Literacy for All

2017 statistics show that more than 50% of South African small businesses fail within the first year; 80% within 24 months.

On-the-ground research conducted in 2019 show that the number 1 reason for these failures is poor management of their finances.

Living by the Riskworx credo – FINANCIAL ENGINEERING FOR A BETTER WORLD - the Riskworx Academy started with the lofty goal of bringing Financial Literacy training to 1 million SMEs over the next 5 years.