Is FRM designation in itself good enough to get a risk job

[mohanvenufrm]

Do you need an Engineering, Statistics/Econometrics or Mathematics degree (undergrad/master's) to back your FRM or to be considered capable enough to do a risk management job? Or in the real world, can we say that FRM has justified itself as a first choice for any recruiter in the risk management profession.

It is an important question and must be considered before pursuing such a course . It is a rigorous course and one can learn a lot but one cannot ignore the payoff as well.

 

[ShaktiRathore]

Yeah FRM is itself not a degree but a professional designation to get accustomed to the risk concepts and various risk aspects required in the risk management job. It in itself however does not guarantee a job but when you are going towards a career in risk finance and one definitely wants to make a career in risk finance than one should definitely go after it.
It is a well go with finance professionals and if you have the willingness and a desire to go into risk only than its the most suitable designation.If you have it than its good instead of not having provided you have time to prepare for it if one wants a career in risk finance.
The FRM designation will certainly improve the chances of getting job or understanding the working of finance in modern world. It will not affect you negatively but only positively. If one goes into it than one can learn a lot than mere learning a book on risk finance. The topics covered in the exams almost covers the entire gamut of risk management concepts and once learned can be carried on to your professional life. It can be a stepping stone for someone who wants to enter into the world of finance or wants a career in finance. Whatever one learns from giving exam can be looked back when one actually does the work in future because one can learn back to what one has learned during the FRM.
Garp the associated body also provides you with the membership and one can learn lifelong by giving them some small sum of money annually. Garp is a well renowned body world over which provides credibility and authentication to the certification.
Hull,Jorion,Oning are well known bibles for risk management in areas of general, market risk and credit risk respectively. These well known books are practiced everywhere in the world and the FRM provides an opportunity to read these well known and renowned risk books. if someone does not has time during the exam itself than one can always learn from the above books anytime during his/her career.
A exam called FRM is well worth it!!!!
FRM to be or not to be? It depends on you.
thanks

 

[mohanvenufrm]

Thank you Shakti for that perspective. I completely agree with you on the value of doing FRM and then devoting time to learn and master risk concepts and quantitative techniques. The point I was emphasizing on was whether the industry recognizes an FRM charter holder (with no special quant background), "the same as" or "ON PAR" with say, someone who has an Engineering/Quant background and FRM. I know comparing the two is tough and maybe futile, but I just wanted to understand how much FRM helps in boosting your chances. I have been following many job sites for risk profiles and for most openings, FRM is a preferred choice but not mandatory. Where as an engineering/stats/Econ degree was a must. So for someone wanting to break into the risk management profession without the quant background seems to be a little tougher. These are just some of my observations and I feel different things happen in different situations and it is always good to keep your resume, well bolstered.

 

[ShaktiRathore]

Hey mohanvenufrm whether the industry recognizes an FRM charter holder? yes industry does recognises the FRM qualification but its definitely not par with someone who has an Engineering/Quant background and FRM. FRM boosts your chances, according to me at adds to your knowledge and skills but hands on experience is gained only while working. FRM can help you to get a start if you are new to finance field and enter as freshman in risk mamagement. For already practicing professionals FRM is to gain more knowledge and expertise that can be applied to their field.Yeah I disagree with you that someone wanting to break into the risk management profession without the quant background seems to be a little tougher. There are many risk professionals without quant background also but definitely non-engineering background can make chances a little more dimmer. But in the end ifone wants a career in riskthan one can have it definitely w/o quant background or engg. background.

thanks

 

[mohanvenufrm]

Thank you for your detailed response. I agree to what you are saying.

 

[mohanvenufrm]

When I posted this thread, I was just a candidate and didn't have any "skin in the game", so to say. Now that I have finished FRM, I get to see for myself as to how valuable it really is for someone like me, who does not have an ideal "Quant combined with technology background" to be a real force in this field. I have a masters degree in Finance, CAIA and with FRM hopefully it won't continue to be a monumental challenge to get in to the risk management domain. Only time will tell!

 

[financeskater]

I am looking in to the FRM designation as I am trying to get in to the finance profession as well (not the financial advisor aspect). How are you finding the FRM, did you write both parts at the same time, and where are you at now? Any advice or insight will definitely be taken in to consideration.