Frustrated with my FRM degree

[Hend Abuenein]

I feel so offended, and frustrated when I go through financial recruitment sites and find that most of the risk jobs require almost any certificate, but not an FRM!

Look here for example http://www.competencehr.com/jobdetails.asp?id=445

They want this credit risk manager to be an ACCA or CA??!
WHY?! What's accounting got to do with credit risk management?!

Also, since I've started studying for the CFA exam, people have been reacting to it like I'm a genius or something! Even those far away from finance.

Why don't they know about FRM

?!

I put so much effort into it. But it's not paying off

I can't say that I regret it, as I enjoyed every minute of it. But I really am frustrated.

Just sharing thoughts here, people
Enjoy your studies.

 

[sokal1456]

Hi,

I have seen quite a few jobs with FRM certification given some priority. I think maybe your job searches are not broad enough...

 

[ShaktiRathore]

Hend,
FRM degree will come handy at some point of time. may be when you are doing your work some day accidentely requires some risk related concepts sort of things which may require your knowledge gained during the frm program. You will definitely gain from the program if not loose. i hae seen people with enough work ex with the frm degree have made it to very good positions. Even if it is not bearing the fruits right now then in future it definitely will because many employers worldwide recognize its importance.
I know that its good to have frm then not having it if you want a career in finance. IN the end hend you have gained if not loose anything.

thanks

 

[pojo]

If I were you I would put in a bit of BLURB about the FRM in your application - if you have room. There are many people out there who know about it in hiring positions - but many who do not, I think over time the ratio will shift in favor of those that do.

 

[vt2012]

That’s why sequence of degrees/designations I’ve got is: PhD, MBA, CFA, …

 

[bhar]

Hend, what kind of role are you looking for ? Also, where are you located ? Are you having a risk or trading related job right now ?

Thanks

 

[vt2012]

Hend,
FRM degree will come handy at some point of time. may be when you are doing your work some day accidentely requires some risk related concepts sort of things which may require your knowledge gained during the frm program. You will definitely gain from the program if not loose. i hae seen people with enough work ex with the frm degree have made it to very good positions. Even if it is not bearing the fruits right now then in future it definitely will because many employers worldwide recognize its importance.
I know that its good to have frm then not having it if you want a career in finance. IN the end hend you have gained if not loose anything.

thanks

"Finally with FRM you will be happy..." -
Peace...
Shakti, are you paid member?

 

[Robert]

WHY?! What's accounting got to do with credit risk management?!

FAS 157. This accounting standard is related to the fair (i.e. a credit-adjusted) price one receives when unwinding (i.e. exiting) a trade.

 

[vt2012]

FAS 157. This accounting standard is related to the fair (i.e. a credit-adjusted) price one receives when unwinding (i.e. exiting) a trade.

What's accounting got to do with credit risk management?!
A lot of.
Agree absolutely.

 

[vt2012]

I feel so offended, and frustrated when I go through financial recruitment sites and find that most of the risk jobs require almost any certificate, but not an FRM!

Look here for example http://www.competencehr.com/jobdetails.asp?id=445

They want this credit risk manager to be an ACCA or CA??!
WHY?! What's accounting got to do with credit risk management?!

Also, since I've started studying for the CFA exam, people have been reacting to it like I'm a genius or something! Even those far away from finance.

Why don't they know about FRM

?!

I put so much effort into it. But it's not paying off

I can't say that I regret it, as I enjoyed every minute of it. But I really am frustrated.

Just sharing thoughts here, people
Enjoy your studies.

And what did you expect from the ad
"
WORK EXPERIENCE
Min: 6 years Max: years
"
Even students with one year experience of web design make it better...

 

[NewComer]

Yeah, FRM isn't popular...
What about PRM?

 

[Hend Abuenein]

If I were you I would put in a bit of BLURB about the FRM in your application - if you have room. There are many people out there who know about it in hiring positions - but many who do not, I think over time the ratio will shift in favor of those that do.

Thanks Pojo,

I actually did that a couple of times, and added 2 lines in my CV under my education...but eventually it felt like I'm an attention seeking child So I stopped.

 

[Hend Abuenein]

Hend, what kind of role are you looking for ? Also, where are you located ? Are you having a risk or trading related job right now ?

Thanks

Hi Bhar,
I'm in Oman, but I search in the whole GCC region, as well as in other specific countries.
Ideally the position would be in risk management, but I'm also considering IB and others.
Right now I'm under employed as a part-time instructor.

 

[Hend Abuenein]

That’s why sequence of degrees/designations I’ve got is: PhD, MBA, CFA, …

Hmmm...I'm still wondering about that PhD THEN MBA sequence.

Could you please explain.

 

[pojo]

Thanks Pojo,

I actually did that a couple of times, and added 2 lines in my CV under my education...but eventually it felt like I'm an attention seeking child So I stopped.

I put it in my education, I have a Ph.D. and an MBA, but I add as possibly my most relevant qualification - currently.. it just says


GARP Financial Risk Management Exam
Passed Part I May 2012, Sat for Part II in November 2012

Resume are supposed to be attention seeking

 

[Robert]

Ideally the position would be in risk management, but I'm also considering IB and others.

Hi Hend,

Have you considered the financial software industry? There are many interesting opportunities in companies like Mysis, Calypso, Murex, Sophis, Bloomberg, OpenLink, Reuters, etc. Some of those companies have offices in the Middle East and all of them have offices in the U.S. and Europe, if you're willing to move.

Thanks,
Robert

 

[Hend Abuenein]

Thanks a lot Robert , I'd really like to consider that field, but I have hardly any IT background. Do you have any idea what the requisites on that side would be?
And...what future prospects would a similar job hold? What will I be in say 10 years?

I would appreciate more on this.

Thanks again

 

[Robert]

Thanks a lot Robert , I'd really like to consider that field, but I have hardly any IT background. Do you have any idea what the requisites on that side would be?
And...what future prospects would a similar job hold? What will I be in say 10 years?

I would appreciate more on this.

Thanks again

Hi Hend,

You need to be "tech-y" but not necessarily be "technical". What I mean is that you don't need to know how to write code in, say, Java or C++ (that's what the develoeprs do, not the risk person) but it would be helpful, not required, to have a basic understanding of programming logic (e.g. so you can learn some basic SQL statements on the job - do not be intimidated by this, it is not at all difficult to learn). I work in the industry and I do not have formal IT training (my background is in mathematics) but I'm probably more tech-savvy than most people without formal IT training.

The job prospects for front-office / risk employees at software companies are quite promising. This type of employment can be quite rewarding / interesting and you can earn a good living doing this type of work too. I very much enjoy the work.

What are your long-term career prospects in the financial software industry? Financial software employees are coveted by banks and consulting companies for their combination of financial knowledge and software savvy (I stress that you do not need to be very technical; you can learn some basic technical concepts on-the-job at a software company - you are hired and paid, primarily, for your business knowledge). Most people are on the business side or the IT side but few people have a good perspective on both.

Frankly, I didn't know anything about the financial software industry until I entered it some years ago. But I'm glad that I did find it and I recommend you consider one of the companies I listed above.

Thanks,
Robert

 

[Hend Abuenein]

I certainly will. Thanks again Robert.

 

[pgk]

Just to add to Robert's point on need to be a 'tech-y' - lot of business analysis opportunities arise around risk management and reporting space. So some data management skill (mapping , database basics , SQL basics etc) defenitely help. Plus the uniqueness of middle east bank regulations brings a lot of customizations to those risk products or solutions thereby generating lot of opportunities. Moody's Analytics product 'Fermat' is one of the popular product aroung GCC in risk space and RAPM.

Good luck.