FAQ After Exam Questions about work experience

[aditya_khatri]

Hi David

Please find below my work experience. I am not sure if it will be accepted by GARP. Please share your views on the same
My experience is in the field on wealth management and in HSBC and ICICI Bank.

Advise HNI and UHNI on a range of investment opportunities for their financial growth. Offer specialized services concerned with asset allocation and budget control
Advise clientele on financial products like Mutual Funds, Retirement plans, capital protected schemes, and portfolio management services
To perform competitive and cross-analysis of various investment products and monitor their returns
To conduct weekly and monthly meetings with investors either to address any of the relevant questions or concerns related to macro factors, trends, and market dynamics impacting their investment returns
Update risk and financial profiling of every client and devise various investment strategy as per the risk appetite of the clients

Thank You

 

[Utkarsh_1991]

Hi all,

Greetings from India !!

I have been preparing for FRM Level 1 November'19 exam. Meanwhile I got selected in one of the Chemical Trading firms as a Business Analyst. My profile there would be to Maximize the profits realized through Import and Export of Specialty chemicals by reducing the costs paid to manufacturers and increasing the revenue generated from the customers. Basically, we are a sort of facilitator to connect sellers and buyers.

My concern was if the experience as a Business Analyst at this place would fulfill the criteria of 2 year work experience for FRM Certification ? I have to take a call today itself whether to join this Organization or not. Please help me out in this case.


Thanks and Regards,
Utkarsh Khattri

 

[kmagam]

Hi David/Nicole,
I am really interested in studying risk management I have started more as a hobby as it fascinates me but I would like to know if my work experience meets the criteria for FRM?
I have 15+ years experience as a Software Tester in IT and have worked across various domains. About 10 years of that has been testing software on OMS, trading systems, trade life cycle and compliance across FX, Bonds markets. About 1 year ago I switched employers and I have been exclusively working on testing software for counter party risk and settlement risk, it requires deep analysis of algorithms, quant and strategies on reducing CCP risk, By the time I give the FRM exam I would have added more experience in this.
What do you guys think will I qualify???
Really appreciate your reply,
Thanks,
Karthik

 

[Swati Sarda]

Hi Team,
I'm working in audit field with KPMG for Past 3 Years.
And getting opportunity in the field of Audit Risk Department, will the experience count if i go for it?

 

[knine0516]

Hello,
first of all, I passed FRM Part 2 on May,2019. The expiring date for job experience for me is May, 2024.
I currently am working as an intern at an accounting firm tax team.
And I have 2 questions regarding qualified experience that counts.
First, I would be working 3 months in the accounting firm as an intern , and
does this count towards FRM qualified experience?
And second, I may get a job on September, 2022 and will be able to fill 2 years of job experience
on September, 2024, which passes the expired date by 4 months.
I would like to know if in that case, does the experience still count or do I have to re-start the FRM program
all over again?

Thank you.

 

[Nicole Seaman]

Hello,
first of all, I passed FRM Part 2 on May,2019. The expiring date for job experience for me is May, 2024.
I currently am working as an intern at an accounting firm tax team.
And I have 2 questions regarding qualified experience that counts.
First, I would be working 3 months in the accounting firm as an intern , and
does this count towards FRM qualified experience?
And second, I may get a job on September, 2022 and will be able to fill 2 years of job experience
on September, 2024, which passes the expired date by 4 months.
I would like to know if in that case, does the experience still count or do I have to re-start the FRM program
all over again?

Thank you.

Hello @knine0516

In a case like this, it is important that you reach out to GARP directly so they can provide you with the correct answer. Each person's situation is different and I would hate to see you receive incorrect information. You can reach them at memberservices@garp.com. They also provide phone numbers on their Contact page here: https://www.garp.org/#!/about/contact-us.

 

[Paras Chhabra]

Hi David and Nicole

I Was going thru the certification requirements for FRM and thought would ask you about its relevance. I am sure you would have handled thousands if not millions such cases

In my current role as a finance director in a closely held domestic company, I oversee a lot of areas of risk including but not limited to credit risk, liquidity risk, business risk, cash flow risk and foreign currency risk. There is a lot of financial analysis that is included in the profile as also a lot of the accounting function as well. If you want, I can provide more information..

Do you think this qualifies as an appropriate experience for the frm certification? I mean do they take my word for it or how else is the verification done?

Would really appreciate your views on this

 

[Mandeep Bawa]

Hi @David Harper CFA FRM @Nicole Seaman

Greetings!
I have cleared my FRM L2 in Dec last year. Below is the description of my work experience. Do you think this qualifies as relevant to get the charter? Appreciate your assistance.

I am an Associate with JP Morgan Chase Bank in Bangalore, India, primarily looking into Fund Accounting Operations for multiple clients which includes booking of daily expense, subscriptions and redemptions, expense budgeting and analysis, client reporting and reconciliation and resolution of daily breaks.

Thanks.

 

[Nicole Seaman]

Hello @Mandeep Bawa

Others in the forum who have similar experience may be able to offer you advice, but the only way to find out for sure if your work experience qualifies is the contact GARP or submit your work experience to see if it is approved or denied. Unfortunately, We cannot provide advice on GARP's work experience guidelines, as we are not directly affiliated with them and they do not provide us with the guidelines that they use in approving work experience. GARP has advised us to have our members contact them at memberservices@garp.org to ask specific questions about work experience. If you contact them and do not receive a timely response, please let me know and I will see if I can help.

Thank you,

Nicole

 

[sybillin]

Hi @David Harper CFA FRM @Nicole Seaman,
I recently got an opportunity at a technology firm which provides POS service to retail business. The position is Payment Risk Analyst, responsible for monitoring credit card payment transactions/fraud activities and data analysis. I was wondering if this job qualifies for FRM work experience, I am preparing for FRM Level II exam so I expect to find a job that matches the FRM requirement.

I have sent email to GARP but they replied that they do not pre-qualify work experience.

Thanks

 

[Vrinda Gosain]

I will be soon joining an insurance industry, either claims department or the underwriting department. Does after 2 years working in any of this two departments count workex for getting FRM certification complete

 

[Singh_mandeep24]

Hi @Nicole Seaman @David Harper CFA FRM

I am applying for the FRM certification. Below is my work experience, do you think will it be relevant for FRM certification or not?

My job included assisting the portfolio managers of Private Equity clients. My day-to-day tasks include:

• Identify the concentration risk in the Private Equity funds to prevent losses in the value of the fund’s portfolio.
• Informing the portfolio managers on a regular basis about the level of concentrations of investments in a particular country and sectors.
• Stress test the fund’s portfolio and determine the impact of external risk factors on the fund’s portfolio using ‘What-If’ analysis.
• Provide consultancy services to the fund managers to prevent extreme exposure to any particular sector or geography.
• Conduct investment analysis and perform due diligence to assist clients in identifying the target companies and help private equity funds to manage their market risk and concentration risk.
• Gather and assess data and inform clients about ongoing trends in different sectors and geographies which could be leveraged and could generate returns and minimize the risk through the diversification of the portfolios of the clients.

Thanks in advance!!

 

[Nicole Seaman]

Hi @Nicole Seaman @David Harper CFA FRM

I am applying for the FRM certification. Below is my work experience, do you think will it be relevant for FRM certification or not?

My job included assisting the portfolio managers of Private Equity clients. My day-to-day tasks include:

• Identify the concentration risk in the Private Equity funds to prevent losses in the value of the fund’s portfolio.
• Informing the portfolio managers on a regular basis about the level of concentrations of investments in a particular country and sectors.
• Stress test the fund’s portfolio and determine the impact of external risk factors on the fund’s portfolio using ‘What-If’ analysis.
• Provide consultancy services to the fund managers to prevent extreme exposure to any particular sector or geography.
• Conduct investment analysis and perform due diligence to assist clients in identifying the target companies and help private equity funds to manage their market risk and concentration risk.
• Gather and assess data and inform clients about ongoing trends in different sectors and geographies which could be leveraged and could generate returns and minimize the risk through the diversification of the portfolios of the clients.

Thanks in advance!!

Hello @Singh_mandeep24

It looks like you have sufficient work experience and others in the forum who have similar experience may be able to offer you advice, but the only way to find out for sure if your work experience qualifies is the contact GARP or submit your work experience to see if it is approved or denied. Unfortunately, We cannot provide advice on GARP's work experience guidelines, as they do not provide us with the guidelines that they use in approving work experience. GARP has advised us to have our members contact them at memberservices@garp.com to ask specific questions about work experience. If you contact them and do not receive a timely response, please let me know and I will see if I can help.

Thank you,

Nicole

 

[David Harper CFA FRM]

Hi @Singh_mandeep24 Like Nicole said, we cannot make a determination for you, but I will say: I cannot imagine your experience not qualifying. Plenty of FRMs have been qualified with less relevant experience. You've been doing plenty of work directly in risk. I personally have no doubts .... FWIW ... Thanks,

 

[Nishant Kumar]

Hi Team,

I am planning to give FRM level 1 examination in November 2019. I have been working for Axis Bank as a Data Analyst in the AML (Anti Money Laundering) team. My job is to create models for the following points :
1) Identifying accounts doing AML related activity
2) Shell company identification
3) Assign Risk rating to all the new customers that have onboarded (Static risk rating)
4) Assign Dynamic risk rating on the basis of their transaction pattern
5) Analyze the remittance data

Will this job profile be counted as the work experience required for getting the FRM certification?

 

[David Harper CFA FRM]

HI @Nishant Kumar (you don't need to post twice per https://forum.bionicturtle.com/thre...quired-for-frm-certification.23379/post-83042 as between Nicole/myself we read every post). I assume you mean you'll be sitting Nov 2020? You will see that, as @Nicole Seaman wrote above, as much as we would like to be able to give you a concrete answer, we cannot At the same time, anybody looking at that experience can observe that you do have work experience in very relevant areas! Who could even doubt it?! First, you work on an AML team; nice. Second, you actually do real world risk stuff. Personally, I have no doubts I hope that's helpful and good luck!

 

[Nishant Kumar]

Hi @David Harper CFA FRM

Your response was really helpful. Personally I didn't expect to get such a fast response. Thanks for that.
Yeah, I meant November 2020 (I don't know why did I mention 2019). As I am new to this forum, I didn't know where to post this question and whether I would get any response on that thread. I can assure you this won't happen again. Sorry for the inconvenience.

Once again thanks for your response.

 

[David Harper CFA FRM]

Hi @Nishant Kumar No worries, it's not a biggie. We just try to keep the forum "nice" (eg less noise) for visitors. You are more than welcome to visit/post/query/etc. Glad I could help a litte. Thanks,

 

[nc27]

Yes your experience qualifies

 

[LEOZHENG]

Hello All,
I have passed both FRM exams and have 2 years of experience as a reinsurance data analyst in the data operational department. Would anyone please advise if this would qualify for a FRM designation? the job functions mainly including data processing, data quality support, building, testing and trouble shorting workflows and data models, etc. I was advice this may be related to operational risk? Thank you in advance for all your help.

Thank you!!