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Online Training Course on Financial Risk Manager - Part I  (FRM Part I)
FRM Part I
2434 learners in this course
Course Faculty
Mr. Amit Parakh
CFA FRM CA CS and MBA from IIM Ahmedabad. An expert Finance trainer. more>>

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  103 lecture topics
  30+ hours of video lectures
  4+ practise tests with solutions
  Interactive discussion forum
  WhatsApp group for Brainstorming
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The FRM is a globally recognized yardstick certification program for financial risk managers and is the de-facto global qualification in the practice of Financial Risk Management.

Ideally, FRM certification is for banking and finance specialists who are involved in analysing, controlling, or assessing potential credit, market, operational risks and anticipating various risks that the organization may be susceptible to in the process of growing and creating value. FRM is also accountable to evaluate and take appropriate action to control risks that involves Inflation, Foreign exchange, Volatility, Liquidity etc.

The program is highly acclaimed due to the available number of job opportunities and lower fees for the course per se. FRM fees is much lower when compared to the fees of CFA and MBA.

About FRM Certification

FRM certification helps you to scale the ladder and move ahead in the global job market. Certified FRMs have secured positions such as Chief Risk Officer, Senior Risk Analyst, Head of Operational Risk and Director of Risk Management and so on. In evidencing your skill and displaying better risk practices, you automatically enrol yourself to a world-wide community who are enthusiastic to improve financial stability.

As the fiscal industry becomes progressively competitive and anxious about managing risk, it is imperative to engage yourself and your capabilities to add value to an organization. Possessing FRM certification indicates to employers that you are sincere about risk management and that you have had your Certification authenticated against international professional standards. By linking yourself to the FRM community, you become part of the elite group of accomplished professionals who are pursued after and employed by the leading financial institutions in the world.

It has been observed that most people who participate in the program would endorse it to others to do the same. Professionals in the field of finance and having widespread knowledge about economy and finance can work as a Financial Risk Manager. Most of the reputed risk management firms give enormous value to a FRM qualified person. Therefore, FRM certification is a necessity for any aspiring Financial Risk Manager. The credential gives one an exhaustive understanding of world economy, financial markets, various risk models and much more. Although the certification gives demanding knowledge about risk management, one must be skilful of taking premeditated risks while working under tremendous pressure to flourish as a FRM professional.

FRM certification is a highly sought-after testimonial throughout the world. While large-scale risk management firms continue to remain as major employers of FRM professionals, one can work as a freelancer too. Major corporations and investment bankers take FRM services from risk management firms, and some of them employs FRM professionals. A FRM certified professional can aim for positions such as Risk Quantification Manager, Credit risk specialist, Market risk specialist, Enterprise Risk Manager, Operational risk analysts, Regulatory risk analysts etc.

The compensation and other perks for an FRM professional is usually high as it involves extensive traveling and working under pressure. The under-lying truth is It is a highly rewarding and satisfying career.

FRM aspirant is offered a ‘FRM Charter’ upon completion of the course. There are over 26000 FRM charter holders across globe.

Benefits of FRM Certification

The highlight of the FRM certification is that it gives you a distinctive advantage from the other risk professionals who are operative in money and investment turfs. FRM certification is of such high standards that every top employer recognizes and appreciates it. The skills that a FRM integrates are priceless and the FRM certification provides you with state of the art knowledge that is required in its field.

The FRM certification gives you the opportunity to network with some of the experts in the market and expands opportunities in the world of finance. More than 30,000 individuals from 141 countries across the globe have passed the FRM Exam, automatically, empowering you to become part of the elite group.

Employers around the world realize that the FRM Program prepares candidates with the specialized knowledge and skills necessary to succeed in the dynamic financial sector. The FRM designation is by far the best known and most respected designation for financial risk, with all the top 25 global banks having a significant presence of Certified FRMs in its organisation.

Financial risk managers in the USA can earn anywhere between US$ 100,000 and US$ 250,000. They receive various peripheral benefits, which include pension, health insurance, paid vacations and much more. The average salary of an FRM in India is around INR 900,000

The amount of money a financial risk manager earns depends primarily on several factors. Some of the factors which influence are:
  • Experience
  • Academic qualification
  • who or which company they work for also plays a significant role on the level of compensation
FRM certified professional will have the below mentioned career prospects:
  • Chief Risk Officer
  • Analytics Client Consultant – Risk Management Analytics
  • Risk Manager, Personal Banking
  • Corporate Risk – Managing Director – COO & Risk Officer for Global Asset Liability Management
  • Risk Quantification Manager
  • Manager, Operational Risk Advisory and Oversight for Wealth Management
  • Large Enterprise Commercial Risk Manager
  • Senior Operational Risk Manager
  • Credit risk specialists
  • Market risk specialists
  • Operational risk analysts
  • Regulatory risk analysts
  • Risk Manager, Prudential Risk
  • Enterprise Risk Manager
  • Risk Manager
In a nutshell an FRM will:
  • Stand out to employers and set himself apart
  • Develop knowledge and expertise
  • Join an elite group across the world
  • Demonstrate leadership at work
  • Affirm achievements through real-world experience
  • Enhance reputation
  • Grow global networking connection
  • Increase job opportunities across the globe
Did You Know?
Quantitative Analysis
1 Probabilities 01:01:34
2 Basic Statistics 58:35
3 Distributions 40:49
4 Summary 01:35
5 Distributions Preview 12:15
6 Hypothesis Testing and Confidence Intervals 01:21:29
7 Linear Regression with one Regressor 19:00
8 Regression with a Single Regressor 12:45
9 Linear Regression with Multiple Regressor 22:55
10 Hypothesis Testing and Confidence Intervals in Multiple Regression 22:45
11 Summary 02:52
12 Montae Carlo Methods 28:48
13 Estimating Volatilities and Correlation 12:02
14 Simulation Methods 28:40
15 Summary 01:46
Foundations of Risk Management
16 Delineating Efficient Portfolios 29:52
17 The Standard CAPM 08:49
18 Non Standard CAPM 12:46
19 Applying CAPM to Performance Measurement 16:12
20 Risk Management 31:56
21 Corporate Risk Management 21:53
22 Corporate Governance and Risk Management 07:04
23 Enterprise Risk Management 02:51
24 Financial Disasters 08:44
25 Risk taking and Risk Management by banks 23:08
26 Credit Crisis of 2007 - part 1 08:09
27 Credit Crisis of 2007 - part 2 21:25
28 Risk Management Failures 03:57
29 Deciphering the liquidity 16:56
30 Getting upto speed on the financial crisis 08:33
31 Multifactor Model - Part 1 12:51
32 Multifactor Model - Part 2 12:18
33 Summary 02:26
Financial Markets and Products
34 Introduction to Derivatives 05:41
35 Markets 05:49
36 Types of Traders 12:02
37 Forward Contracts 09:26
38 Future Contracts 01:53
39 Options 18:25
40 Summary 01:23
41 Properties of Stock Options 01:16:27
42 Trading Strategies Involving Options 48:00
43 Summary 01:29
44 Parties Involved in Future Markets 03:53
45 Characteristics Specified in Contract 02:40
46 Margins 12:05
47 Types of Orders 13:41
48 Summary 00:43
49 Hedging 04:25
50 Advantages and Disadvantages of Hedging 08:42
51 Basis Risk 10:40
52 Sources of Basis Risk 11:14
53 Hedge Ratio 08:44
54 Hedging with Stock Index Futures 06:16
55 Adjusting Protfolio Beta 04:08
56 Summary 00:56
57 Forwards and Futures 01:00:30
58 Commodity Forwards and Futures 04:53
59 Foreign Exchange Risk 05:51
60 Summary 01:06
61 Types of Rates 54:37
62 Duration 19:16
63 Interest Rate Futures 35:26
64 Corporate Bonds 12:16
65 Summary 02:18
66 Rating Agencies 23:56
67 Summary 02:19
68 Introduction - Central counterparties 13:50
69 Exchanges, OTC Derivatives, DPCs and SPVs 21:02
70 Risks caused by CCPs 10:58
71 Banks 23:26
72 Hedge and Mutual Funds 21:34
73 Insurance - Part 1 08:08
74 Insurance - Part 2 05:45
75 Insurance - Part 3 07:06
76 Insurance - Part 4 06:12
77 Insurance - Part 5 16:54
Valuation and Risk Models
78 Binomial Trees 48:34
79 The Black Scholes Merton Model Preview 37:10
80 The Greek Letters 40:50
81 Summary 02:06
82 Prices Discount Factors and Arbitrage 27:49
83 Spots Forward and Par Rates 20:19
84 Returns, Spreads and Yields 11:36
85 One Factor Risk Metrics and Hedges 25:55
86 Multi Factor risk metrics and hedges 06:04
87 Empirical approches to risk metrics and hedges 03:19
88 Summary 03:31
89 VAR Methods 29:58
90 Quantifying Volatility in VAR Modles 14:27
91 Summary 02:15
92 External and Internal Ratings 19:22
93 Loan Protfolio and Expected Loss 12:47
94 Country Risk 42:25
95 Country Risk Models 09:02
96 Operational Risks Part 1 25:40
97 Operational Risks Part 2 18:48
98 Stress Testing 07:17
99 Summary 02:53
  FRM L1 Test 1  
  FRM L1 Test 2  
  FRM L1 Test 3  
  FRM L1 Test 4  
Exam type numericals
100 Quantitative Analysis 14:44
101 Foundations of Risk Management 17:53
102 Financial Markets and Products 34:29
103 Valuation and Risk Models 27:09

Eligibility criteria for FRM

There is no pre-qualification required to appear for the FRM Exam. Nevertheless, the FRM program is recommended to B.com, MBA, CFA, CA, CPA, and other finance professionals, as this program specializes into Risk Management.

Even an undergraduate (Final Year of Graduation) is qualified to give the FRM exam. But you can take FRM Part 2 only when you complete the FRM Part 1. Candidates must pass both the parts one after another.

A minimum of two years professional full-time work experience in financial risk management or any related field including, trading, portfolio management, industry research, economics, auditing, risk consulting, etc. is a must

Once you have passed the FRM Exam, you need to provide the proof of your professional experience to GARP to receive your certificate. The proof of professional experience should be furnished to GARP in about 5 years of time. Failure to do so, will result in you taking the exams once again. GARP, after processing your work experience, will mail the certificate to you.

Two things set you as a certified Financial Risk Manager:
  1. Firstly, should have a passing score on the FRM Examination, and;
  2. Secondly should be an active Fellow membership in the Global Association of Risk Professionals (GARP)
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