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What is the Financial Risk Manager (FRM) Certification Program?

The FRM examination is designed to test for an admixture of basic analytical skills, general knowledge and intuitive capability acquired through experience in capital markets. It focuses on the core body of knowledge required for independent risk management analysis and decision making.  Notwithstanding all the sophisticated models currently used by organizations to manage risk, it is most often the simple "rule of thumb" techniques that allow successful risk managers to quickly assess and control risk, as well as test the assumptions and results of the models. It is these practical techniques that will be emphasized on the FRM examination. In addition, the individual will be tested on the general behavior and risks of various markets and financial instruments, regulation, and credit risk concepts.

In order to be certified as a Financial Risk Manager (FRM) and be able to use the FRM acronym after your name, the following is required:

• A passing score on the FRM Examination.
• Active membership in the Global Association of Risk Professionals.
• A minimum of two years experience in the area of financial risk management or another related field including, but not limited to, trading, portfolio management, academic or industry research, economics, auditing, risk consulting, and/or risk technology.

The FRM Exam is administered every November in multiple cities.  The 2006 exam will be given on November 18, 2006.  The exam is 5 hours long and consists of approximately 150 multiple choice questions.

FRM™ is a registered Trademark of the Global Association of Risk Professionals

Source: Global Association of Risk Professionals

• Global Association of Risk Professionals (GARP)
  Administers the FRM program

• FRM Exam Prep Web Log

FRM Review Courses and Study Guides

• BionicTurtle

• Capital Affairs

• CfBS Center for Financial Studies (Switzerland)

• Goethe Business School - Financial Risk Management Program

• Golden Future Online FRM® Training Course (China)

• Globecon

• KESDEE

• New Horizons Learning Centers

• PASS PRO

• SC Training

• Schweser

• Shanghai International Banking and Finance Institute (SIBFI)

• UNICOM Seminars

 

Related Books from Amazon.com (Click on title for more information or purchase info)

FRM Texts

Required Reading

• Financial Risk Manager Handbook - [Also available at Amazon.co.uk]

Recommended Reading

• Active Portfolio Management: A Quantitative Approach for Producing Superior Returns and Selecting Superior Returns and Controlling Risk - [Also available at Amazon.co.uk]
• Derivatives Handbook: Risk Management and Control - [Also available at Amazon.co.uk]
• Financial Institutions Management: A Modern Perspective
• Fixed Income Mathematics
• Managing Credit Risk: The Next Great Financial Challenge
• Managing Financial Risk: A Guide to Derivative Products, Financial Engineering, and Value Maximization
• Options, Futures, and Other Derivatives (4th Edition)
• Risk Management
• Value at Risk: The New Benchmark for Managing Financial Risk

Optional Reading

• Financial Risk Manager Sample Review Test CD-ROM
• Internal Credit Risk Models: Capital Allocation and Performance Measurement
• Measuring and Managing Operational Risks in Financial Institutions: Tools, Techniques, and Other Resources
• Swap and Derivative Financing: The Global Reference to Products, Pricing, Applications and Markets, Revised Edition