| Paper 1: Risk Management |
| Module A: Risk & Risk Management Framework | Role of banks, types of risks, risk culture, risk framework, ALM, interest rate & liquidity risk |
| Module B: Credit Risk | Credit risk framework, borrower risk, credit rating, credit models, RAROC, credit derivatives |
| Module C: Market Risk | Market risk types, fixed income, bond valuation, interest rate risk, VaR, stress testing |
| Module D: Operational Risk | Operational risk framework, loss data, RCSA, KRIs, tech risk, cyber security, climate risk |
| Module E: Basel & RBI Guidelines | Basel I–III, ICAAP, stress testing, capital adequacy, risk-based supervision, RBI norms |
| Module F: Derivatives & Risk Management | Derivatives types, forwards, futures, options, swaps, pricing, hedging, misuse of derivatives |
| Appendix: Statistical Concepts | Central tendency, dispersion, correlation, probability, beta, VaR, risk metrics, portfolio theory |
| Paper 2: Risk in Financial Services |
| 1. Principles of Risk Management | Core principles, risk types, management approaches |
| 2. International Risk Regulation | Global regulatory standards, Basel committee guidelines |
| 3. Operational Risk | International view of operational risks and control frameworks |
| 4. Credit Risk | Advanced credit risk techniques and assessment |
| 5. Market Risk | Risk from interest rate, forex, equities, commodities |
| 6. Investment Risk | Portfolio risk, diversification, investment decisions |
| 7. Liquidity Risk | Liquidity measurement, funding, balance sheet impact |
| 8. Corporate Governance & Risk Oversight | Governance roles, board responsibilities, risk culture |
| 9. Model Risk | Model validation, usage, governance, regulatory risk |
| 10. Enterprise Risk Management (ERM) | Integrated risk management approach and its components |
