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Financial Crisis: A Recurring Phenomenon and Why do we often miss it?

A uniquely designed residential programme offered to the working executives across India.

Session starts from 03 Nov 2024

Session ends on 06 Nov 2024



    ABOUT THE PROGRAMME

    Financial Crisis: A Recurring Phenomenon and Why do we often miss it?

    The 2007–2008 financial crisis, or the Global Financial Crisis (GFC), was a severe worldwide economic crisis that occurred in the early 21st century. It was the most serious financial crisis since the Great Depression (1929). It was among the five worst financial crises the world had experienced, leading to a loss of more than $2 trillion from the global economy. Americans lost $9.8 trillion in wealth as their home values plummeted and their retirement accounts vaporized. Why did not the huge army of immensely powerful and talented bank regulators did not notice this huge and elementary risk?
    Something similar is again at play. Silicon Valley Bank (SVB) failed. Credit Suisse was about to fail until it was rescued by Swiss authorities through a deal with UBS. How could 100,000 pages of a regulatory rule book not be enough to prevent a crisis in the financial sector?
    When regulators fail, the onus is on managers, executives, and business leaders to effectively navigate their interests in this crisis-prone world. The common question arises: how do we identify that a crisis is building up, and what steps can be taken to survive a crisis and maintain competitiveness? Thus, this course aims to provide comprehensive insights into a broad range of risks that arise from financial activities with the potential to cause crises in the financial sector.

    COURSE DETAILS

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    OBJECTIVES

    This course aims to provide participants with a deep understanding of financial risks. It seeks to demystify the crisis and shed light on a simple cause (though missed often), which is always at play in any financial crisis. The cause stems from human behavior.
    Thus, the course aims to help managers to become cognisant of several behavioral biases that can
    affect their decision-making process and how those biases can sometimes lead to decisions that can collectively snowball into a full-fledged crisis. In summary, this course equips participants with the knowledge and tools to understand behavioral bias, the implications for financial decisions, and its linkage with the financial crisis.

    PEDAGOGY

    The course will be delivered using a well-rounded approach that combines concept explanations, reflections on real-life examples, and case studies showcasing historical crisis episodes. The lecture content is derived from up-to-date studies and surveys on the subject matter. Discussions will be experiential and interactive to encourage active participation, involving individual and/or group presentations. Additionally, action-oriented reflective exercises will guide participants in gaining a deeper understanding of the financial crisis. The ultimate goal is for participants to develop
    customized and actionable roadmaps for their respective organizations.

    WHO MAY ATTEND?

    This program is designed to benefit a wide range of participants, including managers and executives from various financial services companies such as banks, insurance companies, asset management firms, and credit card associations. It is equally valuable for entrepreneurs and startups aspiring to raise capital from the market. Regulators who play a crucial role in overseeing the financial sector
    can also benefit from this program.

    DURATION

    03 – 06 Nov 2024.                        XLRI DELHI.

    PROGRAM CHARGES

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    PROGRAM FEES AND OTHER EXPENSES

    PROGRAMME DIRECTORS

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    Arpit-Kumar-Parija-1

    Prof. Arpit Kumar Parija

    Prof. Arpit is currently working as an Assistant Professor of Economics at XLRI Delhi NCR. He is a financial economist specializing in banking and financial regulation. He has taken multiple Fintech, Blockchain, and Cryptocurrency sessions for corporate executives and senior officers from the Central Board of Direct Taxes (CBDT). He is actively involved in research that seeks to understand how financial intermediaries make decisions in a strategic and uncertain environment, how agents change their behavior in response to financial regulations, and their implications for the financial system. His latest research has been featured in the World Bank- All About Finance series (A forum for public debate on the financial sector). He holds a Ph.D. (IIM Calcutta) in Economics (Minor: Finance.) Prof. Arpit can be contacted by email at arpitkp@xlri.ac.in. More details on him can be found at www.arpitkumarparija.com.

    PROGRAM CONTACT DETAILS

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    Management Development Programme