FAQ After Exam Questions about work experience

[Deepak Chitnis]

Thank you so much @David Harper CFA FRM, you are simply great! I still have 4-5 months till exam so no hurry! I think GARP is not very clear regarding work experience, many people like me just don't understand what GARP expect. I am fortunate that people like you around me, who understands my queries and help me!
Thank you again!

 

[Mikki]

Hi @David Harper CFA FRM I was with Retail Risk Analytics for two years and Market Risk for another year. Now I'm a Bonds and Derivatives Trader, I transferred two months ago. Will they consider my two years in Risk Analytics? I was in charge of Mortgage Portfolio of the bank, consolidating data and providing analysis to different departments involved in the bank e.g. past due levels, portfolio concentration, past due forecasts. I also built the scoring model for our mortgage portfolio using statistical models and monitored the performance of the model. I'm kind of worried GARP will see it as an MIS job and not a Risk job. Please advice. Thank you!

 

[Matthew Graves]

Pretty sure that being a bonds and derivatives trader itself means you're managing/assessing risk (at least I hope it does!) and hence also qualifies as relevant experience. Although as you say, only 2 months.

From your description I would say that your 2 years will be counted as long as you put a decent description of the work.

 

[Mikki]

Pretty sure that being a bonds and derivatives trader itself means you're managing/assessing risk (at least I hope it does!) and hence also qualifies as relevant experience. Although as you say, only 2 months.

From your description I would say that your 2 years will be counted as long as you put a decent description of the work.

Thank you! I just got certified today!

 

[JayJayK]

Hello to all, I recently completed CFA and like to sit for 2017 FRM. I am just curious if my work experiences are relevant?

Worked 2 years in Compliance,
1.) 8 months monitoring internal employee e-communication: Prevention of sensitive data leakage, deterrence and detection of front-running, insider trading, abuse of non-public material information and any market misconduct or manipulation.

2.) 16 months Financial Crimes Controls: Ensure proper adhering to SG/HK regulations for Anti Money Laundering and Counter Terrorist Financing. Ensuring all Due Diligence and Know Your Customer of the business’ accounts are performed.

Currently (1 month) in APAC Treasury Operational Risk: Tracking and Reporting Ops Losses, attending call/tracking/monitoring/mitigation of all risk event.

In short if Compliance and Operational Risk experiences would count towards FRM credential?

Thank you all in advance!

 

[David Harper CFA FRM]

Hi @JayJayK Welcome! In my strong opinion, yes, absolutely that is qualifying experience. (@Nicole Seaman are you able to back me up here?)

 

[JayJayK]

@David Harper CFA FRM That's very comfortable to know, thank you so much! Will be signing up for 2017 FRM I

 

[Nicole Seaman]

Hi @JayJayK Welcome! In my strong opinion, yes, absolutely that is qualifying experience. (@Nicole Seaman are you able to back me up here?)

@David Harper CFA FRM @JayJayK

This certainly looks to me like it would qualify for work experience. I would be happy to contact GARP to get their direct answer though!

Nicole

 

[David Harper CFA FRM]

Thank @Nicole Seaman ! @JayJayK As Nicole mentioned, we are happy to run "interference" and run your experience by GARP, but to be really candid, I don't feel like it's a good use of their time because your experience is not, from my perspective, even a borderline case. I'd prefer to reserve our interactions with GARP on this issue for genuine borderline case (keep our powder dry, as they say!). You have two years in what are clearly risk-related fields, so I'd rather not spend time on it, if that's okay.

 

[JayJayK]

Thank you both @Nicole Seaman @David Harper CFA FRM ! No need for contacting GARP, you people are great!

 

[Pooja.maggie]

GARP states that "The work experience submitted cannot be more than 10 years prior to having passed the FRM Exam Part II." Does it mean relevant risk experience or overall work experience?

 

[emilioalzamora1]

@Pooja.maggie

Risk experience!

 

[nitin chowdary]

I work for an organisation as an Associate. I am into ETF trade support, where we save all the requirement for the purpose of ETF shares to be released to AP's. We request the client for collateral required on the trades. The percentage of collateral requested depends on the risk of the Underlying. So, is this experience valid ?

 

[Deepikaa Srinivasan]

Currently, I am having 14 months work experience in a consulting firm as Senior Risk Analyst and I deal with Financial Risk analysis, Supply chain risk analysis and adhoc Country risk analysis. Previously I was working for 14 months in a Shipping firm and my job description was related to Analysis for Sale and Purchase prices of vessels, Analysing the fixtures for profitability and research on oil companies. I am certain that my latest experience is relevant but not very sure if the previous 14 months is, as it is more inclined to corporate finance kind of a role. Can u pl suggest, if I can go ahead and submit the work ex or wait for some more time?

Also, I would like to thank the BT team for all the support throughout the FRM journey.

 

[VijayGopalkrishnan]

Hi,

I have 8 years experience as a Manager in one of the KPO with one of the G10 investment bank as a vendor where I deal with complete trade life cycle comprising of trade validation, trade execution, confirmation and settles the trade. I am also entitle to work under client location as an external consultant to provide and guide their trade related activities like collateral management, dispute resolution on ISDA/CSA, legal documentation of MCA.

Can the above experience be considered, please let me know as I am going to join for FRM this year.

 

[sal_14]

Hi @David Harper CFA FRM and @Nicole Seaman I am currently working as a credit manager in a retail bank and planning to give FRM this Nov 2018. Will my roles as a credit manager for retail loans count as a relevant work experience for FRM? Also can it also be counted as relevant for CFA?
Awaiting your response...

 

[emilioalzamora1]

Hi @sal_14,

quick reply: for the FRM of course, for the CFA also. I think every sort of role in the financial industry (except HR or sth. similar which is purely unrelated to the daily financial business) should count as work experience. It also depends on your selling arguments when you present your jobs (what you do on a daily basis) to GARP/CFA.
You don't have to be a fund manager or trader to get the CFA. I have seen people working in technologies (data etc) who have been certified as well.

 

[sal_14]

Great! Thanks alot @emilioalzamora1 for your quick response. One more thing, I also hope to change my field from credit manager to a more technical job involving valuation and risk models. It will be pretty different from the job i am doing right now, so howeasy will it be to switch once i am a frm charter holder (ofcourse getting the job will depend on how i crack the interview) but will the frequency of getting into these interviews increase and how hard will it be?

 

[reul95]

hey
I cleared my FRM part 1 exam in January 2018, and currently preparing for the part 2 exam in November 2018 i.e. this year.

just a few months ago, I got a job as a Derivatives Trader at a firm in my city.
would the job profile count in as a relevant work experience?

Thanks

 

[Nicole Seaman]

hey
I cleared my FRM part 1 exam in January 2018, and currently preparing for the part 2 exam in November 2018 i.e. this year.

just a few months ago, I got a job as a Derivatives Trader at a firm in my city.
would the job profile count in as a relevant work experience?

Thanks

Hello @reul95

Please note that I moved your question to this thread, which has been very helpful to others when trying to determine if their work experience qualifies. Make sure to read through the comments, as you may find that someone else posted with the same work experience. Our search function in the forum is very helpful for questions like this. With over a decade of Q&A, it is very likely that you will find an answer quickly

Thank you,

Nicole