FRM – 2002 – Financial Risk Manager Examination GARP

Author: FRM

We help the world make better informed risk decisions. We educate and inform risk professionals at all levels, from those beginning their careers in risk to those leading risk programs at the largest financial institutions across the globe, to regulators that govern them.

Addressing risk is a team effort, and with over 150,000 members in 190 countries and territories – GARP Members are making a difference. GARP Membership provides the community with engagement opportunities to have a voice in industry research, unparalleled networking opportunities, access to risk intelligence, and much, much more. Additionally, our Continuing Professional Development (CPD) program offers risk professionals access to the very latest in risk education, paving the way for a clear view of the risk horizon.

Financial Risk Manager Examination

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What are the requirements for FRM Certification?

Pass the FRM Exam Part I

Pass the FRM Exam Part II within 4 years

Demonstrate 2 years of related work experience

A candidate demonstrates work experience by submitting 4-5 sentences describing their professional role in the management of financial risk. The application to submit your work experience can be completed online. The work experience submitted cannot be more than 10 years prior to having passed the FRM Exam Part II. Experience completed for school will not be considered, including internships, part-time jobs, or student teaching. A candidate has 5 years to submit their work experience. After 5 years, the candidate will have to re-enroll in the program and pay the required fees again.

A candidate cannot use the FRM designation after their name in any manner until they have been certified.

How much time do I have to complete the FRM Certification process?

Once a candidate passes the FRM Exam Part I, they must then pass the FRM Exam Part II within 4 years. Candidates have 5 years from the date they pass the FRM Exam Part II to have their work experience verified.

What’s on the FRM Exam Part I?

The FRM Exam Part I focuses on the tools used to assess financial risk. They include:

Foundations of risk management concepts

Quantitative analysis

Financial markets and products

Valuation and risk models

What’s on the FRM Exam Part II?

The FRM Exam Part II focuses on the application of the tools acquired in the FRM Exam Part I. They include:

Market risk measurement and management

Credit risk measurement and management

Operational and integrated risk management

Risk management and investment management

Current issues in financial markets

What is the FRM Committee?

The FRM Committee is a select group of risk management experts from around the world. Committee members represent all aspects of financial risk management and possess an expertise in one or more risk management disciplines.

Current members include practitioners in:

Academia

Asset Management

Corporate

Credit, Operational and Market Risk

Emerging Markets

Insurance

Legal and Regulatory Practices

Rating Agencies

Quantitative Disciplines

What does the FRM Committee do?

The FRM Committee plays a vital role in preparing the FRM Exam. The Exam topics and their respective weightings are reviewed yearly to ensure the FRM Exam is kept timely and relevant.

Who is on the FRM committee?

Dr. René Stulz (Chairman) – Ohio State University

Steve Lerit, CFA – UBS Wealth Management

William May – Global Association of Risk Professionals

Michelle McCarthy – Nuveen Investments

Dr. Victor Ng – Goldman Sachs & Co.

Dr. Elliot Noma – Garrett Asset Management

Liu Ruixia – Industrial and Commercial Bank of China

Dr. Til Schuermann – Oliver Wyman

Dr. Serge Sverdlov – Redmond Analytics

Alan Weindorf – Vis

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