Is FRM the best fit for you? Does FRM Certification Course have a Scope in India
Whether you’re new to finance or considering a career change, you’ve probably wondered, “What should I do to advance my skills in order to stand out in the job market?” You may have come across the Financial Risk Manager (FRM) course during your search.
If you’re not sure whether FRM is the ideal course for you to devote your time, energy, and money in, keep reading for some useful insights before you make a decision.
Financial Risk Manager (FRM) certification provided by Global Association of Risk Professionals (GARP), is a globally recognized course for risk management. It is a road to pursuing a career in risk management and advancing your abilities.
Ever since the Global Financial Crisis, importance of risk management has increased significantly across the companies and FRM has been in great demand ever since. It tests a candidate’s ability to assess, measure and monitor risk in real world situations. Individuals are required to truly understand the concepts and later apply those in their risk management career.
The career prospects after the completion of the certification are:
- Risk Analyst
- Risk Manager
- Auditor
- Chief Information Security Officer
- Chief Risk Officer
- Compliance Manager
- Compliance Officer
- Data Specialist
- Environmental Compliance Specialist
- Information Security Risk Manager
- Model Risk Specialist
- Regulatory Affairs Manager
- Risk and Compliance Investigator
- Technology and Cyber security
- Treasury Manager
In order to earn the certification, a candidate has to not only clear two rigorous exams but also provide work experience of 2 years in the relevant field.
Part 1 is a 100 multiple choice questions exam of four hours and comprises of four topics, namely:
- Foundation of Risk Management
- Quantitative Analysis
- Financial Markets and Products
- Valuations and Risk Models
Part 2 is an 80 multiple choice questions exam of four hours and comprises of six topics:
- Market Risk Measurement and Management
- Credit Risk Measurement and Management
- Operational Risk and Resiliency
- Liquidity and Treasury Risk Measurement and Management
- Risk Management and Investment Management
- Current Issues in Financial Markets
Part 1 and Part 2 examinations happens thrice in a year in the months of May, August and November.
Within four years of clearing the part 1, the candidate has to clear part 2 to avoid retaking part 1. Exams are conducted via Computer Based Testing. The candidate must have completed the 12th grade as a minimum requirement. There is no higher age limit.
Individuals across the globe, age groups and backgrounds sit for this exam to up skill themselves. After clearing both the parts, candidate has to provide 2 years of work experience within five years.
After becoming certified, a financial risk manager must demonstrate specific attributes, since simply finishing the course is insufficient. The following is required of the FRM holder:
- To work with large quantities of data and interpret these numbers.
- To identify risk correctly and find ways to mitigate or deal with these risks.
- To keep up with industry trends.
- To proper articulate financial reports and processes for the stakeholders.
It is possible to ace the examinations on the first attempt with a good strategy and study plan in place, as well as committing at least 500 hours to each part. GARP approved exam prep provider, The Wallstreet School provides you with complete support you need in your risk management career, including:
- 120+ hours of recorded lectures which you can watch at your own comfort from anywhere and as many times as you like.
- Lectures delivered by an industry specialist who believes in a hands-on approach to prepare you for both examinations and your risk management career.
- Summarized formula cheat sheets with a study planner guide.
- Questions banks, comprising of 1000+ questions which will prepare you for the real exam.
- Active discussion forums for doubt solving and learning from your peers.
- User friendly portal.
- One-on-one guidance from the coach.
Now that you know what the course entails, we hope you will be able to make an educated decision. You, too, can become a FRM holder and progress your career with the proper materials, coaching, and perseverance.
All the best!
We look forward to seeing you at The Wallstreet School.
