How to become FRM, Financial Risk Management Course an Overview. The Financial Risk Manager (FRM) designation is the world’s most highly respected, certification for professionals who manage risk. Here we are providing all details for FRM Course like About the FRM Program, Roadmap of FRM Program, etc.
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The Financial Risk Manager (FRM) designation is the globally recognized standard for those who manage risk. Certified FRMs are part of an elite, global network, and are valued by top employers across diverse businesses. Now Check more details for “How to become FRM, Financial Risk Management Course an Overview” from below…
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How to become FRM, Financial Risk Management Course an Overview
About the FRM Program
With seismic changes continuing to occur in the financial services industry worldwide, professionals who manage risk, money and investments are recognizing the need to objectively demonstrate a globally standardized level of up-to-date industry knowledge.
Requiring the successful completion of a rigorous two-part, practice-oriented examination, the Financial Risk Manager (FRM) designation provides a bedrock foundation in a profession and industry that is rapidly evolving. Since the FRM Program’s inception in 1997, Certified FRMs have achieved positions such as Chief Risk Officer, Senior Risk Analyst, Head of Operational Risk, and Director of Investment Risk Management, to name a few.
The global FRM community is growing dramatically, with Certified FRMs represented at nearly every major banking institution, government regulator, consulting firm and financial services institution around the world.
The FRM Exam Part I covers the tools used to assess financial risk:
- Foundations of Risk Management
- Quantitative Analysis
- Financial Markets and Products
- Valuation and Risk Models
The FRM Exam Part II focuses on the application of the tools acquired in the FRM Exam Part I through a deeper exploration of:
- Market Risk Measurement and Management
- Credit Risk Measurement and Management
- Operational and Integrated Risk Management
- Risk Management and Investment Management
- Current Issues in Financial Markets
How to Become FRM
The first step to becoming an FRM is passing a rigorous, two-part exam. To enroll in the program, register for the FRM Exam online via the GARP website. Both parts of the FRM Exam are offered twice a year, in May and November. Once you pass the FRM Exam Part I, you have four years to pass Part II.
After achieving a passing score on both parts of the FRM Exam, candidates must demonstrate a minimum of two years of full-time work experience in finance or a related field to complete their certification. Related work experience may include: trading, portfolio management, academia, industry research, auditing, risk consulting, or risk technology. If you have questions about whether your work experience qualifies, please contact firstname.lastname@example.org.
Once certified, we strongly recommend that FRMs keep their skills and knowledge up to date by participating in GARP’s Continuing Professional Development (CPD) program. The program offers FRMs a framework to help them stay ahead of the curve through ongoing education, and encourages participants to earn 40 credit hours every two years to maintain the integrity of their certification. Although participation in the CPD program is voluntary, it is considered best practice for FRMs to participate in the program throughout their career.
Fast Facts of FRM Program
- There are over 32,000 Certified FRMs practicing worldwide
- Over 150,000 registrations for the FRM Exam since 1997
- In 2014, FRM candidates came from 143 different countries and territories
- Registrations for the 2014 FRM Exam represented more than 6,000 organizations globally
- 923 Organizations had 5 or more FRM registrations in 2013
FRM Program Roadmap
FRM_PROGRAM_ROADMAP The FRM designation is the most globally respected certification for financial risk management, owing to a rigorous program that ensures that Certified FRMs have mastered the necessary skills and knowledge to succeed in today’s rapidly changing global financial industry.
There are no educational or professional prerequisites to sit for the FRM Exam. However, to become a Certified FRM, candidates must complete the FRM Program as outlined below:
The FRM Exam tests progressive, cumulative knowledge; the concepts tested in Part I are needed for Part II. Thus candidates choosing to sit for both Exams — Part I and Exam Part II — on the same day, must pass Part I before Part II will be graded.
In order to become a Certified FRM after passing the FRM Exam Part II, candidates must demonstrate a minimum of two years of risk-related full-time professional experience.
Preparing for the FRM Exam
The FRM Exam Preparation Handbook is designed to assist FRM candidates in their preparation for the FRM Exam by suggesting strategies for completing the reading material. To review this resource, and to access other study materials, please click here.