Sunday, January 9, 2011

FRM (Financial Risk management) from GARP

FRM is a premier certification for Risk management professionals. Over the last couple of years, following the Financial Crisis, the applications for FRM have increased a lot. Even in Emerging Markets like India, China etc, FRM is being pursued with full rigor.

If you are in a job that deals with Financial Risk Management (Trader, Hedge Fund Manager, Academician, Credit Risk Analyst, Risk Manager, Entrepreneur etc) you may want to add this certification. Now this is conducted in two levels. The major course consists of Credit Risk, Market Risk and Operational Risk. The other subjects include Hedge Funds, Basel Accord etc. The Quartile method of evaluating is followed. The bible for clearing this exam is "Financial Risk Management by Jorion". The Schweser Course material is also helpful. A warning: If you hate mathematics, you make have to work twice hard. I took this exam when it was conducted in only one level. There were no two exams then. Anyway if you are planning to take it, have a look at the GARP (Global Association of Risk Professionals) site, plan well and work hard. Even the Bionic Turtle provides good course materials. In the end, I would like to emphasizeSchweser Practice Exam Book for 2010 FRM Exam that there is no lack of information.

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