The FRM is a respected international credential for people who work in financial risk. It is voluntary in Canada, but many employers value it for risk roles in banking, investing and insurance.
Official website ↗The Financial Risk Manager (FRM) credential is issued by GARP, a global body for risk professionals. It shows that you understand how to measure and manage market risk, credit risk, operational risk and other risks that affect financial firms.
No law in Canada requires you to hold the FRM to work in risk. Employers still use it as a sign of solid knowledge and commitment to the field. It can help you stand out when you apply for jobs or seek a promotion. It is used in roles such as risk analyst, risk manager, financial risk analyst, financial engineer and climate risk analyst.
The FRM has two written exams, taken at separate times. Both are multiple choice and are written at a test centre. The first part tests the basic tools and ideas of risk management. The second part tests how well you can apply them to real situations. Many people study part-time while working or finishing school.
The FRM does not need to be renewed once you have earned it. GARP does encourage ongoing learning, and you may be asked to pay a membership fee if you want to keep your GARP membership active. Staying current with new risk topics helps you in your career.