Interview with FRM Expert Vaibhav

This is an interview in a series of Interviews that EduPristine Careers will conduct. EduPristine sets up meetings with professionals/ students / other people, who have been successful in clearing FRM, and gets their views on how to succeed. EduPristine is hopeful that it will provide the readers some insight into how to crack FRM and other certification courses in finance.

Paramdeep Singh, a director with EduPristine speaks to Vaibhav, who wants to build a career in Risk Management and Banking. Vaibhav is a fresh graduate from one of the best MBA schools in India and has prior work experience in the field of Software (where he worked on banking products). He feels that background does not play a very big role in clearing FRM and working hard can definitely get you the certification. In his view point, a strong desire to work hard and interest in finance are the most important ingredients to clear the examination. Vaibhav is an engineer by background and has done his MBA from IMT Ghaziabad.

Paramdeep: Tell me a brief about your background

Vaibhav: B.E. (Computers) from B.V.P , Pune. I worked for 2 years with TCS, Gurgaon on Banking Products. I will complete my MBA (Finance) from IMT, Ghaziabad in March 2009.

Paramdeep: Why did you give the FRM exam?

Vaibhav: Reasons: Interested in the area of Risk Management. I want to pursue a long term career in Investment Banks/ Banks/ Financial Institutions. The Exam curriculum covers subjects that are an added bonus to the MBA-Finance curriculum with no overlapping. Found it highly relevant to the recent financial happenings.

Paramdeep: Do you think that background plays an important role in clearing FRM?

Vaibhav: No, as long as one possesses decent Quantitative and Mathematical ability and a desire to work hard, the background is irrelevant.

Param: What has been your Mantra for success?

Vaibhav: Nothing special, just practice loads of questions. Regular revision of concepts; spend a lot of time right before the exam in attempting model test papers.

Param: When did you start preparing?

Vaibhav: July 2008 for the November 2008 exam.

Param: How much did you study?

Vaibhav: About 1 hour a day initially and then increasing the amount of time spent to the extent of 5 hours a day in the last 20 days prior to the exam.

Paramdeep: What subjects did you concentrate on?

Vaibhav: Market Risk and Credit Risk

Paramdeep: What do you think is the best way to crack the subjects?

  • Credit Risk
  • Market Risk
  • Operational risk
  • Quantitative Analysis
  • Portfolio & Hedge Funds

Vaibhav:

  • Credit Risk: Understanding concepts
  • Market Risk: Practicing Questions
  • Operational Risk: Thorough Reading
  • Quantitative Analysis: Practicing Questions
  • Portfolio & Hedge Funds: Understanding concepts

Paramdeep: What books did you study for the subjects?

  • Credit Risk
  • Market Risk
  • Operational risk
  • Quantitative Analysis
  • Portfolio & Hedge Funds

Vaibhav:

  • Credit Risk: Schweser notes, Jorion
  • Market Risk: Hull, Jorion, Bruce Tuckman
  • Operational Risk: Schweser notes, Jorion
  • Quantitative Analysis: Gujarati, Schweser notes, Jorion
  • Portfolio & Hedge Funds: Schweser notes, Jorion

I relied a lot on online tests and Visualize FRM from EduPristine. The charts helped tremendously in memorizing all the concepts. Apart from that, I read material online.

Paramdeep: What other reference material did you use while studying?

Vaibhav: Notes and PPTs provided by Pristine.

Paramdeep: How best can Pristine be used for preparing for FRM?

Vaibhav:

  • Being in touch with the faculty after classes
  • Actively participating in the discussions forums
  • Feedback to EduPristine:
  • More active involvement in creating job opportunities for students who clear the exam.
  • Besides the coaching classes, also start a Mock Test series and also introduce an arrangement for students who would not like to attend classes due to lack of time, and subsequently a different fee structure.

Paramdeep: What are your career plans after achieving the FRM certification?

Vaibhav: Look for a career in banking/investment banking.

Paramdeep: Lastly, what did you do on the final day before the exam?

Vaibhav:

  • Attempted last year’s paper
  • Quick revision of the basic concepts of Market risk and Credit risk

Paramdeep: Your Advice to FRM/ Finance aspirants:

Vaibhav:

  • Start early and look for professional guidance to cut down on the number of hours of study
  • To practice as many questions as possible

These FRM Interviews are presented by EduPristineCareers (Leader in FRM/ CFA®/ PRM/ FinanceTraining.

Click here to know more about FRM Training.

EduPristine: Trusted by Fortune 500 Companies and 10,000 Students from 40+ countries across the globe, it is one of the leading International Training providers for Finance Certifications like FRM®, CFA®, PRM®, Business Analytics, HR Analytics, Financial Modeling, and Operational Risk Modeling. EduPristine has conducted more than 500,000 man-hours of quality training in finance.