Why do you want to take the FRM exam?

FRM is an international professional qualification of professional risk manager. Certification and examination of Global Risk Management Association (GARP).

GARP is a financial association with more than 50,000 members from more than 65,438+095 countries, mainly composed of risk management professionals, practitioners and researchers.

Financial risk manager;

The most authoritative certification in the field of global financial risk management, recognized by international professionals;

With the attention of financial regulators and financial institutions in various countries, the demand for financial risk professionals is increasing.

Gold content of FRM certificate

FRM certification system has been recognized by European and American multinational companies, regulators and Wall Street, a global financial center, and has become one of the requirements of risk management departments of many multinational companies. At present, the average annual salary of financial risk managers has reached 350,000 yuan, and those who have passed FRM certification are increasingly recognized by domestic financial institutions.

The FRM exam is specially designed for people engaged in financial risk management, including financial product market risk managers, credit asset risk managers, foreign exchange risk managers, price risk managers, business risk managers, legal, accounting and tax risk managers.

FRM certification arranges training contents according to the actual needs of these people, and teaches professional knowledge such as quantitative analysis, market risk measurement and management, credit risk measurement and management, operation and comprehensive risk management, law, accounting and ethics, and customizes financial risk management professionals.

At present, financial markets and financial products are increasingly complex and interdependent, and only those institutions that can effectively manage and control risks can succeed.

In a word!

FRM certificate is the most cost-effective financial certificate that can be tested in four years.

The purpose of FRM qualification examination is to make the title winner have the necessary risk knowledge for independent risk management and decision-making.

A portfolio manager does not understand simple fixed income analysis;

A quantitative analyst doesn't know much about the daily fluctuation of the yen/dollar exchange rate;

A financial officer does not know the basic requirements of the Federal Reserve for high-risk operation of derivatives. These have become commonplace in the industry.

Therefore, the design of FRM test is based on whether the candidate has basic analytical skills, general risk knowledge, intuitive ability gained from capital market experience and other knowledge and abilities.

Although institutions and organizations are used to using extremely complex risk analysis models to manage, control and prevent risks, in fact, risk managers can use the skills of empirical criteria to quickly assess and control risks and test and test the assumptions and results of the analysis models.

The FRM exam attaches great importance to these operational skills. In addition, FRM tests also test the risks, regulatory practices and credit risk concepts of different financial markets and various financial instruments.

With the rapid growth of the domestic market demand for financial risk management talents who are familiar with international practices and have professional qualifications, more and more financial practitioners will obtain certificates by participating in various financial certification trainings to enhance their personal competitiveness. Online consultation of FRM application and customs clearance course

However, it is not easy to get a certificate. For domestic FRM registered candidates, there are three thresholds, which need to be done according to their own abilities.

Threshold 1: The examination is difficult: the examination subjects are comprehensive, covering market risk, credit risk, operational risk, corporate governance and other fields, involving modern management, finance, economics, quantitative statistics and other disciplines, and the knowledge structure is complex. Therefore, candidates need to undergo strict professional training, otherwise it will be difficult to understand the complex quantitative relationship and the risk nature of business and products.

Threshold 2: The examination cost is high: the knowledge is wide, the reading volume of teaching materials and review materials is about 654.38+00000 pages, and candidates spend a lot of time on review.

Threshold 3: it is not easy to obtain qualification: the application conditions for FRM certification examination are relatively loose, and there are no restrictions on candidates' academic qualifications and industries. College students can also apply.

However, if you want to get the professional qualification certificate issued by GARP, you must pass many obstacles.

First of all, you must pass the difficult FRM exam;

Then pass the exam and get more than 2 years' working experience in the field of financial risk or other related fields within 5 years before you are eligible to apply to become a GARP member;

In addition, it is necessary to sign a professional ethics convention with GARP in order to really get started and become a professional financial risk manager.

The financial industry is a high-risk industry, and there are many financial risks such as exchange rate risk, interest rate risk, accounting risk, market risk and credit risk. The gradual opening of China's financial market and the rapid entry of foreign financial institutions have increased the operational risks of financial institutions in China.

Therefore, at present, the accounting and auditing departments of domestic financial holding enterprises, securities companies, investment banks and commercial banks, asset management companies, futures dealers, insurance companies and large enterprise groups have strengthened financial risk control.

This has also led to a sharp increase in the demand for financial risk management professionals in these industries, and enterprises are thirsty for talents.

However, due to the lag of relevant education in China, the supply of talents is obviously insufficient. Well-trained financial risk management talents with professional qualifications are rare. The shortage of talents leads to an increase in salary.

It is understood that the current financial risk managers are well paid. Taking part in professional training and obtaining the qualification certificate is a shortcut to become one of the hot talents.

At present, major banks and foreign banks in China are in urgent need of recruiting talents with this certificate. The annual salary is above 300,000-500,000 yuan.

In addition, in addition to bank demand, the salary offered by enterprises will be higher. In order to attract talents, a high salary is specially offered. He is also a financial risk manager. When his rank goes up, his salary will naturally go up. It's not unusual to be five or six times worse.

The official meaning given to FRM by GARP Association:

(1) will become a global leader in risk management.

(2) There will be advantages when applying for important risk management departments.

The professional certification of FRM will make you different.

(4) Learning risk management knowledge in today's turbulent market environment will make you appreciated in the company. (5) It will give you a sense of satisfaction in integrating personal achievements, conquering exams and becoming the best risk manager in the world.

(6) Financial risk management can also be used as an objective benchmark for you to master major strategic disciplines: market risk, credit risk, business risk and risk management in investment management.

(7) Let you join the global financial elite group, and 65,438+03,685 people become FRM. (8) It provides opportunities to expand your personal and professional level around the world.

(9) Establish a platform for you to communicate with the world's leading risk management professionals, so as to improve your ability.

Where are the jobs of FRM holders?

The holders of FRM concessions usually work for investment companies, mutual fund companies, securities companies and investment banks. Or become a private wealth manager. Employers with the largest number of FRM licenses in Chinese mainland include PricewaterhouseCoopers, Bank of China, Industrial and Commercial Bank of China, China International Capital Corporation, HSBC, China CITIC, BNP Paribas, UBS Group AG, Deloitte, Ernst & Young, Ping An Insurance and Guotai Junan Securities.

Judging from the top 20 employers of FRM, they are all top financial institutions in the world, and 60% of them are top banks in the world. Therefore, no matter whether there is a financial crisis or not, as a member of the complex economic chain, no matter whether it is implicated or its own development, it does not want accidents. Therefore, as the core of the financial field, the banking industry's thirst for risk management talents is the primary reason for the development of FRM.

Take ICBC as an example: As of July 2008, ICBC had 65,438+040 financial risk managers (FRM), accounting for more than 65,438+00% of the total number of financial risk managers in China, ranking first in the same industry. Among them, more than 70% are directly engaged in risk management, and nearly 7% are engaged in the management of branch presidents and above, which directly promotes the improvement of ICBC's risk management level. As China's banking industry is fully open to the outside world and has a large number of financial risk management talents, it is of great significance to establish a risk awareness culture at the level of the whole banking institution to improve the overall operating level and competitiveness of China commercial banks.

At present, in addition to banks, some enterprises have set up risk management departments with salaries of around one million. According to relevant sources, including China Banking Regulatory Commission, China Development Bank, Agricultural Bank of China, Industrial and Commercial Bank of China, Agricultural Development Bank of China, Bank of China and other notices to encourage and mobilize branches to participate in GARP risk management training.

All employees in China's banking industry need to attend the training, even the security department. According to incomplete statistics, there are 3 million people who need training, including 265,438+10,000 people at the business level.

In addition, China gradually implemented the New Basel Capital Accord from 20 10. Richan Postrick, chairman of Global Risk Association, believes that the risk management awareness of banks should not only penetrate all levels of employees, but also accurately and completely retain business data over the years. This is considered to be the key link for China banks to implement the New Basel Accord. Therefore, it is inevitable for banks to carry out systematic and continuous training for employees. It is understood that although FRM qualification is still not a qualification, the incentive policy of many banks is that taking the FRM exam can raise wages by one level.