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Is Taking the FRM Program Worth It?

Have you ever wondered what the FRM course is all about? What is the FRM course full form? What are FRM course details? Worry not, because today we will discuss all about the FRM course in detail. Let’s quickly get started.

  • So now, coming to the most frequently asked question, what is the FRM course? FRM stands for Financial Risk Manager, and it is the only course available that covers all the aspects of risk management in depth. 
  • The best part about building a career in the field of Risk Management and pursuing this course is that it is globally recognized, and is awarded by the Global Association of Risk Professionals (GARP) to all those candidates who are successful in completing the examinations.
  • You may be wondering why particularly FRM, and will a career as a Financial Risk Manager even be worth it?

The answer to this question is a “big yes” because the demand for a certified Financial Risk Manager has increased nearly by 60%. This is because the Finance industry has seen significant growth in the last few years, thereby, creating a sea of opportunities for certified professionals.

Roles and responsibilities of a Financial Risk Manager

Let us now see the activities that a Financial Risk Manager must take on a day-to-day basis. 

  1. The professionals must identify and analyze the risks associated with the assets, earning capacity, or even for that matter, the success of the business.
  2. Analyze the data that is related to the financial markets and the world events, to understand the updates and trends that can have an impact on the business operations.
  3. The professionals are also expected to provide valid suggestions and strategies for protection.

After completion of the FRM course, you will surely reap the following benefits:

  1. Join an elite group of professionals across the globe
  2. Showcase your achievements with real-life experience 
  3. Growing your connections by networking with peers globally 
  4. Greater global opportunities 
  5. Enhanced reputation

Sounds exciting, right? With this, let us also now have a look at the FRM course eligibility, FRM course duration, and the FRM course scope in India:

The eligibility criteria are as follows:

  1. One good thing about pursuing this course is that even a final-year student is eligible for writing the FRM part 1 examination.
  2. However, to obtain the certification, one must have cleared both part 1 and part 2 of the FRM course.
  3. One must also have an active membership in GARP, followed by a minimum of 2 years of relevant work experience.

That is all about the eligibility criteria. The next thing we will be looking at would be the FRM course duration:

The validity is for a total of 5 years from the date of registration. In this period, a candidate is expected to complete part 1 and part 2 of the FRM examination, along with a minimum of two years of relevant experience, and must also obtain the certification within this period.

However, the candidates can easily complete studying and writing the examinations in a year’s time if the candidates are completely focused and dedicated to their goals.

FRM Course Scope in India

Let us now see the FRM course scope in India:

  • Without any doubt, we can say that the FRM is one such designation that is highly recognized globally. Not only does it help in acquiring the essential skills but also provides practical knowledge, which is rewarding in terms of financial growth.
  • The various designations that can be acquired by a Financial Risk Manager are:
    1. Head of Operational Risk 
    2. Senior Risk Analyst
    3. Chief Risk Officer

A certified candidate can also work in the following industries:

  1. Banks and Investment banks 
  2. Asset Management and Consulting firms 
  3. Government/Regulatory and Credit agencies 

Apart from this, the following roles can also be undertaken by a Financial Risk Manager:

  1. Corporate Risk Director 
  2. Risk Qualification Manager 
  3. Regulatory Risk Analyst 

The top companies that create opportunities for FRM candidates are:

  1. PWC 
  2. HSBC 
  3. KPMG 
  4. Deutsche Bank 
  5. Citigroup

From this, we can see that the opportunities are plenty in the Big Four&rsquo’s and in the top MNC&rsquo’s. However, the secret to clearing the FRM examinations is just by practice. The only thing recommended is to practice till you become perfect.

From a career perspective, FRM is more of a specialized certification than a general one, which is formulated in such a way that it helps professionals acquire knowledge in various forms of financial risks, including potential credit risk, liquidity risk, operational risk, and market risk. All the banks and financial institutes have to deal with such risks regularly, which makes FRM the most preferred career option among students and professionals.

FRM Course FAQ (Frequently Asked Questions)

FRM Course FAQ (Frequently Asked Questions):

  • Can I work and study FRM? – Ans: Yes, you can work and study simultaneously. However, you will have to devote more time to your studies as compared to other students who are studying full-time.
  • Will I be eligible for any exemptions? – Ans: Unfortunately, you will not be eligible for any exemptions. You will have to compulsorily attempt both the parts, which are part 1 and part 2.

 

Conclusion:

  • Now it’s your turn to be the next Financial Risk Manager. We hope that we have covered all the important points under this blog. 
  • If you have any further doubts or any queries, you can get in touch with our counselors who would be more than happy to guide you and help you take that jump towards your new professional journey.