The FRM Certification is the global professional certification for those who are into risk management. The FRM certification is offered by the Global Association of Risk Professionals (GARP). The FRM designation can only be used after you have acquired the FRM certification and is highest standard of certification across the world. The FRM designation was first awarded in the year 1997 by GARP.
Certified FRMs are engaged into controlling, analyzing or assessing potential market risk, credit risk and liquidity risk. They are also involved in assessing non-market financial risk.
To take the FRM exam there are no professional or educational prerequisites. But candidates must complete the FRM Program to gain FRM certification. Candidates are required to enroll for the FRM program and inorder to register for the FRM program, they must fill in the application form and pay the required fees to complete the registration process.
In order to become a certified FRM, the candidates must:
Successfully complete the FRM Program offered by GARP.
Have a minimum of two years of full-time work experience in the field of financial risk management or any relative area.
The candidate should write at least 4-5 sentences giving details of how they manage financial risk in day-to-day activities. This is required to complete the registration process. The required experience does not includes part-time jobs, teaching or internships.
The candidates who pass their FRM Exam are required to get their work experience verified within 5 years from the date of passing the exam. Those who fail to do so are required to re-take the FRM exam to become a certified FRM.
On successfully completing the FRM Exam, the candidates should consult Certified FRM Resources. These resources provide additional information about submission of CVs for verification, how to use the FRM designation and receiving of FRM certificate.
The certified FRMs should advance their knowledge and skill sets through GARP's voluntary Continuing Professional Education (CPE) Program.
The FRM certification gives you an additional advantage over your peers. The FRM designation is hard to achieve but proves beneficial in career growth. Employers across the globe are seeking certified FRMs for their expertise and skills required to cater to the financial risk management. The FRM Program is designed to give a state-of-the-art skills that are required in the dynamic market.
There are several industries like central banks, commercial banks, investment banks, corporations, asset management firms, consulting firms, insurance firms, risk and technology vendors, government agencies, hedge funds etc. open for Certified FRMs.
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