Financial Risk Manager
Financial Risk Manager (FRM) course is offered by the Global Association of Risk Professionals (GARP). GARP is a professional association for Risk Managers that promotes the advancement of the profession through education, research, and best practices globally.
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All about the course
FRM course is offered and managed by the Global Association of Risk Professionals (GARP). FRM course consists of two part - Part 1 and Part 2. The duration of the course is 3 years, including work experience. FRMs specialize in assessing risk for major banks, insurance companies, accounting firms, regulatory agencies, and asset management firms.
FRM Part 1
The FRM Exam Part I is a 100-question multiple choice exam emphasizing the tools used to assess financial risk: foundations of risk management, quantitative analysis, financial markets and products, and valuation and risk models.Part I is offered via computer-based testing (CBT) in May, August, and November .
2 Years of relevant work experience in Risk Profile
GARP looks for work experience where the identification, measurement, monitoring, or management of risk is a meaningful part of the job’s responsibility. It includes risk analysis, model validation, trading, portfolio management, treasury, audit, consulting, and many more.
FRM Part 2
The FRM Exam Part II is an 80-question multiple choice exam emphasizing the application of the tools acquired in Part I: market risk, credit risk, operational risk and resiliency, treasury and liquidity risk management, risk management and investment management, and current issues in financial markets. Part II is offered via CBT in May, August, and November
The FRM Exam process is sequential. Candidates must pass Exam Part I before their Exam Part II will be graded.
Submit a summary of work experience to GARP
A candidate has five years to submit his/her work experience after passing the FRM Exam Part II. Experience up to 10 years prior to passing both Exams is applicable as well.
Getting the FRM Charter
To receive the FRM designation, candidates must successfully complete a comprehensive, two-part exam and complete two years of work experience in financial risk management.