FRM Course Roadmap 2024: Your Step-by-Step Guide to FRM Certification Success

Building a career in any field necessitates upskilling. Finance and accounting are not exceptions. The ever-increasing competition is making it challenging for job seekers to grab their desired, highly rewarding jobs by merely depending on conventional degrees. In this rapidly evolving era, top employers are looking for professionals who have practical knowledge and skills rather than just theoretical knowledge. 

Are you, too, struggling to stand out among the large pool of candidates to build your dream career in the global risk management and job opportunities realm? If so, you need not worry anymore, as the solution is simple. Go for the FRM course, delve into the FRM curriculum, excel, and explore the journey to become FRM.

If this field intrigues you but you need guidance in getting started, read this post; it introduces the course and how you need FRM preparation as an entryway into this profession that could pave a pathway towards building a rewarding risk management career.

Key Takeaways

• Guide to FRM Certification

• FRM Course Syllabus

• Career opportunities for FRMs

FRM Course

The Global Association of Risk Management offers this prestigious risk management certification course. Hence, it is designed to make you competent in decision-making and risk management. GARP, with 80,000 members across the world, mandates you pass an exam to qualify as an FRM. The official FRM curriculum is popular and offered in around 195 countries. Besides, it offers continuous professional development (CPD) for certified FRMs to enable them to update their knowledge base and skills through learning about recent developments in the world of finance.

Why pursue the FRM course?

The finance field is expanding rapidly, and thus, there is an increasing demand for FRMs that can deal with risk identification, appraisal, and management.

These professionals work in varying fields like trading, financial services, credit rating agencies, banking, and insurance. So, if you wish to enter this field with expert knowledge and skills, pursuing the FRM course is the right career path for you. Below are some of the most convincing reasons to pursue it. 

Global Recognition

The FRM certification is highly valued and recognized worldwide. If you have this certification, you will be a preferred candidate among the leading employers in major countries. The FRM certification gives you an advantage in the global job market. 

These professionals work in varying fields like trading, financial services, credit rating agencies, banking, and insurance. So, if you wish to enter this field with expert knowledge and skills, pursuing the FRM course is the right career path for you. Below are some of the most convincing reasons to pursue it. 

Enhanced Career Opportunities

Financial risk managers are not confined to any particular sector. Many firms from different sectors require these specialists in the financial management department. Therefore, you can choose a career and role that you find most interesting.

Networking Opportunities

GARP has over 80,000 members worldwide from diverse business domains. Being part of this network means that you will be able to connect with industry leaders and other professionals who share similar professional interests. This will provide networking opportunities for you as well as avenues for knowledge-sharing.

With the FRM certification, you will have access to the best global job openings found at top companies. It will allow you to speed up your career on an international level. However, before you begin preparing for this examination, it is crucial that you go through the FRM course details outlined in the forthcoming sections of this blog.

FRM Eligibility Criteria

Every certification course imposes eligibility requirements that you should understand prior to beginning your pursuit. Before embarking on your path toward FRM accreditation, first find out whether you meet its criteria. With the goal of inviting candidates from various educational backgrounds, GARP has not set highly demanding eligibility criteria for the course. The FRM eligibility requirements are quite straightforward, as listed below.

• A high school diploma or a 10+2 educational qualification is required.
• Only a high school certificate is required to qualify for the FRM course. However, to become certified, a candidate has to pass both parts of the exam and have two years of work experience in relevant fields.

FRM Course Syllabus

The FRM syllabus is divided into two parts, each consisting of nine subjects. All of these courses aim to equip the study goals of the candidate with relevant knowledge and skills in risk management. Part I covers four topics, while Part II covers the remaining five.

Part 1 (100 MCQs)

• The foundations of risk management
• Quantitative Analysis
• Financial Markets and Products
• Valuations and Risk Models

Part 2 (80 MCQs)

• Market Risk 
• Credit Risk
• Operational Risk and Resiliency
• Treasury and Liquidity Risk Management
• Risk Management and Investment Management
• Current Issues in Financial Markets

We divide the score for each question equally. The window for each part opens three times a year: in May, August, and November. In 2024, the dates for exam windows will be as follows: 

FRM Part I

• May, 2024
• August, 2024 
• November, 2024 

FRM Part II

• May, 2024
• August, 2024 
• November, 2024 

You must complete each part of the exam within four hours. If you are ready for the two parts of the exam, you can submit them together on the same day. But you should know that you can only sit for the level two test once you pass level one.

 

FRM Course Duration

It usually takes candidates 1 to 2 years to complete the FRM course. Despite their demanding nature, candidates can attempt and pass both stages within 12 months with dedicated commitment and expert guidance. Earning the final certification requires two years of work experience.

FRM Course Fees

Another crucial piece of information you must have about the course is the FRM course fees that are payable to the organizing body. 

FRM Course Fees for Part 1 

New Candidates

Enrollment fee: USD 400

Exam Fee: USD 600-USD 800

Total: USD 1000-USD 1200

FRM Course Fees for Part 1 

Returning Candidates

Exam Fee: USD 600-USD 800

Total: USD 600-USD 800

FRM Course Fees for Part 2 

Exam Fee: USD 600-USD 800

Note that these course fees are in an approximate range and are subject to change.

Career opportunities for FRMs

If you are pursuing the FRM certification, get ready to get access to the international job market. Top companies all around the world, including the Big 4, are constantly looking forward to hiring these professionals and are willing to offer them higher salaries than non-certified professionals. Popular job offers after the FRM course in India include:

• Treasury Risk Manager
• Credit Risk Manager
• Risk Analyst
• Market Risk Manager
• Investment Analyst
• Quantitative Analyst
• Portfolio Manager
• Claims Manager

Conclusion

With increasing competition, it has become quite challenging to establish a career in global finance. However, some globally accepted certification courses, like the FRM course, can make your way more manageable. 

The benefit is that FRM is not as complex and extensive as other finance courses. Hence, you will be able to pass it in a short period of time. So, if you are interested in the risk management field and wish to fast-track your career, acquiring FRM certification is one of the best steps for you. 

The advantages of the FRM certification will encourage you to pursue it. But where do you start with your preparation for the examination? There is no better institute for it than.