What is FRM? Full Form, Course Details & Fees

In the rapidly changing finance world, effective risk management is essential for individuals and institutions alike. It is in this context that the Financial Risk Management certification in India comes into view. FRM certification has been widely regarded as one of the best-known qualifications in the financial risk management area; it equips professionals with the necessary skills for various complicated financial settings. Here’s an outline of everything about FRM, including course details, fees, and options for someone who is looking for a wider scope of learning.

 What is FRM?

Firstly, the word FRM stands for Financial Risk Manager. The Global Association of Risk Professionals (GARP) offers this globally acknowledged FRM course. This is to empower financial professionals on how best they may handle all risks that take place in the financial domain of organizations. The FRM certification is best suited to people who want to pursue their career in risk management or finance or are looking for courses after MBA with an avenue for acquiring in-depth knowledge in areas such as risk evaluation, control, and alleviation.

FRM Course Details

To pursue such a specialization, one must first understand what the financial risk management course syllabus looks like, what are the topics you will delve into, and how the curriculum has been divided:

The FRM certification contains two primary subdivisions, which are Part I and Part II.

1. FRM Part I focusses on the fundamental tools and concepts used in financial risk management. It covers topics such as:

• Foundations of Risk Management: Basic principles and concepts.
• Quantitative Analysis: Statistical methods and techniques.
• Financial Markets and Products: Overview of financial instruments and their risks.
• Valuation and Risk Models: Methods for assessing and managing risks.

2. FRM Part II deals with more complex subjects about risk management that include:

• Market Risk Measurement and Management: Techniques for handling market risks.
• Credit Risk Measurement and Management: Strategies for managing credit risk.
• Operational and Integrated Risk Management: Approaches to manage operational risks and integrate risk management across an organization.
• Risk Management and Investment Management: Understanding the interplay between risk management and investment strategies.

What are the fees for the FRM certification?

If you are considering pursuing FRM certification, it is vital to know that its cost is not fixed and may vary from one individual to another based on certain aspects, such as the duration of registration and the selection of study materials. Currently, the registration price for every segment of FRM certification is somewhere around INR 40,000, excluding other expenses like study books or review classes that can be added to the total fee. To know more about the present charges along with any other supplemental expenses, one should check out the GARP official page.

Alternative: PGDRM offered by GRMI 

If you are now set on a career in risk management and are keen on pursuing this field, you should look into other options that can be more holistic, in-depth, and offer you a wider range of opportunities. One such program is the 1-year Post Graduate Diploma in Risk Management offered by Global Risk Management Institute. The program has been designed to keep in mind the ever-evolving changes in the risk landscape and the need for graduates to be specially trained and kept up-to-date with industry trends.

GRMI’s program is a one-of-a-kind course for the following reasons:

1. The comprehensive curriculum has been designed to cover all verticals of risk management. Teaching you subjects such as strategic risk management, enterprise risk management, third-party risk management, financial risk management, data privacy, and many more.
2. It is a 1-year full-time, on-campus program.
3. The program is taught and vetted by academic and industry experts.
4. The PGDRM program has their alumni highly sought after with a 97% placement track record, and the majority of their alumni work in the top consulting firms across the country.
5. There is an 8-week internship at the end of the program.
6. Opportunities to work with companies such as EY, Deloitte, Titan, Accenture, Times of India, Fortis, etc.
7. Since the curriculum is comprehensive in nature, the alumni have diverse job roles and positions waiting for them, some of which include internal audit, governance, risk, and compliance, risk advisory/risk assurance services, strategic risk advisory, enterprise risk management, forensic/fraud investigation, and Treasury risk.
8. The best part is that GRMI has no competitive score requirement or entrance exam; to be eligible, one needs to have a minimum of 50% in their graduation and an interest in risk management.

Conclusion

The FRM certification is an important asset to have if one wants to perform well in the field of financial risk management. It has a structured curriculum and globally acknowledged status, which makes it preferable among finance experts. Nevertheless, if you need a larger perspective and deeper plunge into management of risks encompassing beyond just the financial domain, consider taking the PGDRM program offered by GRMI as an amazing alternative. This comprehensive approach, along with relevant industry insights, distinguishes it as an alternative for anyone striving to increase their knowledge and career opportunities in risk management.

Whether you take up the FRM certification or explore the PGDRM program, both offer substantial benefits that will help improve your capacity to effectively manage risks.