It is a qualification certification in the field of global financial risk management, which was established by GARP.
GARP is one of the largest financial association organizations in the world, with150,000 members from more than 195 countries, mainly serving more than 5,000 banks, securities companies, academic institutions, government management agencies, asset management agencies, insurance companies and non-financial companies. Its main function is to improve the standards in the field of financial risk management by exchanging information and implementing educational programs.
/kloc-in the past 0/0 years, with the rapid development of financial frontier disciplines such as financial engineering, financial econometrics, computational finance, etc., financial risk management technology has received unprecedented attention, and FRM examination has also developed rapidly, which has been recognized by many famous financial institutions, risk management departments of large companies in Wall Street and Europe and America, government regulatory agencies and financial regulatory agencies in various countries, and has become the most authoritative certification in the field of global financial risk management.
The FRM examination starts from 1997 and is held once a year in the middle of 1 1 (starting from 20 10, and the grading examination time is May and 1 1). FRM has test sites in Chinese mainland, Beijing, Shanghai, Hongkong and Taiwan Province Province. At present, China (including Hongkong and). Although FRM examination has not been established for a long time, it has developed very rapidly, and the number of applicants worldwide has increased by more than 38% every year.
FRM has been recognized by famous European and American financial institutions such as Wall Street, risk management departments of large companies and government regulatory agencies, and has initially become the most authoritative certification in the field of risk management. In 2009, the FRM exam was only one level in June 5438+065438+ 10, and the graded exams (Part I and Part II) were implemented on May 20 10. All the exams are standardized and the cost is relatively low.
Therefore, friends who are interested in financial risk management or related work can not only improve their risk knowledge level, but also add a heavy bargaining chip for career development and career development by taking the FRM exam.
Risk management covers many fields, including financial quantitative analysis, market risk, credit risk, operational risk, fund investment risk, accounting, law and so on. When the financial market is in trouble or crisis, effective risk management often becomes the key to the success of enterprises. This important decision, which is related to the fate of enterprise organizations and their investors, requires the participation of many financial risk professionals. With the development of 17 years, FRM has become an international risk management certificate attracting worldwide attention. In China, with the increasing demand for financial risk professionals, FRM has attracted more and more attention from financial institutions and regulatory authorities.
Financial institutions risk control personnel, financial unit auditors, asset managers, fund managers, financial traders (brokers), investment bankers, commercial banks, risk technology practitioners, risk consultants, corporate accounting and auditing departments, CFO, MIS, CIO and other financial practitioners, as well as those who are interested in financial risk management and their careers. Most of them serve large enterprises and financial workers.
Financial employers all over the world deeply realize that to succeed in the rapidly changing financial industry, it is necessary to recruit FRM talents with professional knowledge and skills. FRM title is the most famous and respected qualification certification in the field of financial risk. Forty-six of the world's top 50 banks have FRM holders.
The full name of financial risk manager FRM is Financial-Risk-Manager, and it is the most authoritative qualification certification in the field of global financial risk management. FRM was established by the Global Risk Management Association (GARP) headquartered in the United States. GARP is one of the largest financial association organizations in the world, with more than 65,438+050,000 members from 65,438+095 countries, mainly serving more than 5,000 banks, securities companies, academic institutions, government management agencies, asset management agencies, insurance companies and non-financial companies. Its main function is to improve the standards in the field of financial risk management by exchanging information and implementing educational programs.
The full name of GARP, American Global Risk Management Association, is a global association of risk professionals. GARP is a non-profit independent institution and one of the main consulting institutions of the Bank for International Settlements in risk management. Its purpose is to promote the exchange of risk management information, carry out risk management qualification examination, and formulate technical norms and evaluation standards in the field of financial risk management.
The Financial Risk Manager (FRM) qualification examination implemented by GARP since 1997 has been recognized and supported by multinational financial companies, regulators in Europe and America, especially Wall Street. Nowadays, FRM qualification certificate has become one of the requirements of many international financial institutions and risk management departments of multinational corporations.
In order to promote the development of risk management in China, GARP established China branch in Beijing on 200 1 and Beijing Examination Center. In 2002, it implemented the first global unified examination in Chinese mainland and achieved success. Domestic financial supervision departments, financial institutions and large enterprises have all expressed great importance to FRM examination, and are prepared to take measures to train international risk management professionals in order to improve the level of risk management and enhance core competitiveness.
FRM members are mainly composed of risk management professionals, practitioners and researchers. They come from a wide range of backgrounds, including risk department managers of major companies and financial institutions, as well as risk experts, professors and scholars from various research institutions and universities.
FRM members of GARP Association pay attention to a series of issues: from daily risk management to reviewing current risk management technologies and standards; Evaluate the current risk operation and supervision; Remind lawmakers and the public of the potential risks in the financial market.
The GARP Association encourages and is committed to promoting exchanges among risk practitioners, researchers and regulators. It aims to highlight the importance and urgency of risk management by issuing announcements, newsletters, magazines, electronic publications and other forms, especially the FRM professional qualification examination, establish the authoritative position of GARP in the global risk management field, and improve global recognition.
GARP, founded in 1996, is a professional organization initiated by risk professionals under the background of the collapse of the old British Bahrain Bank and the importance of global risks. Nowadays, all kinds of risks: exchange rate risk, interest rate risk, accounting risk, market risk, credit risk and so on emerge in an endless stream. The importance and urgency of risk management have been unanimously recognized by government regulators, companies, research institutions and investors, and a series of technical and normative measures have been taken to warn and resolve various risks, and various risk analysis tools and standards have emerged.
As the largest international risk organization composed of global risk professionals, GARP has been recognized and supported by European and American multinational companies, regulators, especially Wall Street, through the annual meeting attended by authoritative experts and scholars in the global risk field, senior executives of multinational companies and managers of risk departments, and a series of risk summits and forums held around the world, especially the implementation of standardized professional qualification examination for risk management. FRM certification examination implemented by GARP has become one of the professional requirements of risk management departments of some multinational companies.
Risk assessment (risk assessment)
Before or after the occurrence of a risk event (but not yet over), quantitatively evaluate the possibility of the event affecting and losing people's life, life and property. That is, risk assessment is a quantitative assessment of the possible impact or loss of an event or thing.
From the perspective of information security, risk assessment is an assessment of the threats, weaknesses and impacts of information assets (that is, the information set of an event or thing), and the possibility of risks brought by the combination of the three. As the basis of risk management, risk assessment is an important way for organizations to determine information security requirements, which belongs to the planning process of the organization's information security management system.
Simply put, these two certificates are basically literal: the risk assessor evaluates the possible risks of a thing and the risks that have been issued. FRM financial risk managers control possible financial risks and financial risks that have already occurred!