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An Interview with FRM Expert Pratik

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 Pratik, an expert in Risk Management and Banking. Pratik has been working with the Banking Regulator RBI and has a strong background in statistics and Economics. He has significant experience in statistics, IT and Business Analysis. He has a strong background in Mathematics and Statistics and thinks that planning and working hard are the most important aspects from the Exam perspective.

Param: Tell me a brief about your background

Pratik: I did my bachelors in Mathematics (Hons.) from Presidency College Calcutta and then completed M.Stat from the Indian Statistical Institute. Then I joined RBI in the Stat department. But I worked mostly in the IT department, initially as a developer and subsequently as a Business Analyst and Project manager. I have done my Masters in Financial Management from Jamnalal Bajaj Institute of Management under Mumbai University before appearing for the FRM exam.

Param: Why did you give the FRM exam?

Pratik: As I have a background of Statistics / Math, I thought that the area of risk management would suit me because a quantitative approach towards risk management is assuming great importance. To be able to establish myself in this field, I thought FRM will help as it is the most renowned certification in this field.

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

Pratik: But even if you do not have background, proper planning guidance and hard work should help one to get through.

Param: What has been your Mantra for success?

Pratik: Planning and hard work. Also, I took a lot of mock exams before the actual test.

Param: When did you start preparing?

Pratik: I started planning early in June. But actual study I started in late July/ August.

Param: How much did you study?

Pratik: It would be difficult to quantify the actual hours. But for the last 3 months, I studied every evening on weekdays and almost 6-8 hours on holidays.

Param: What subjects did you concentrate on?

Pratik: I tried to cover whole syllabus. But specially concentrated on Market Risk.

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

a. Credit Risk

b. Market Risk

c. Operational risk

d. Quantitative Analysis

e. Portfolio & hedge Funds

Pratik: It depends on which one you are comfortable with. Generally one has to choose either Market or credit risk as that person’s main strength. But as one has to pass in every topic, you cannot ignore any of the topics.

Param: What books did you study for the subjects?

a. Credit Risk

b. Market Risk

c. Operational risk

d. Quantitative Analysis

e. Portfolio & hedge Funds

Pratik: I studied from Schweser Notes and tried to cover the Core reading as much I could do.

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

Pratik: None other than the ones mentioned above.

Param: How best can EduPristine Careers be used for preparing for FRM?

Pratik: I am sure it must be of great help. Unfortunately, I could not use their services for preparation for the FRM exam.

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

Pratik: I would like to use it to further my career.

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

Pratik: Tried to relax. Just revised some topics. Tried to prepare myself mentally for the exam.

Param: Your Advice to FRM/ Finance aspirants:

Pratik: This exam is a real test of not only your knowledge but also your mental stability. If you are calm and composed during the exam, you increase your chances provided you have prepared yourself thoroughly.

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

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