CFA (Chartered Certified Financial Analyst) was founded by the American Association of Chartered Financial Analysts. More than half a century has passed since the examination of 1963. CFA is a strict and high-gold qualification certification in the global investment industry. CFA is the norm and standard of the global investment industry in terms of ethics, professional standards and knowledge system, and has also been recognized by the industry. CFA is a certificate with high gold content in the financial field. The holder of the certificate has complete professional knowledge and high-level ethics, which enables him to calmly cope with the changes in the financial market. Perfect financial knowledge reserve and familiarity with financial business will help them predict financial risks more accurately and give advice in time.
CFA exam includes ethics and professional standards, quantitative methods, financial reporting and analysis, corporate finance, securities investment, fixed income, derivatives, alternative investment, portfolio management and wealth planning, plus Fintech (financial technology), a new exam subject in 20 19.
CFA exam is divided into CFA 1, CFA2 and CFA3. Different levels of examination content have different emphases. After passing the exam, what you can do is different.
FRM, an international professional certification developed by the Global Association of Financial Risk Management Professionals and provided by GARP (Global Association of Risk Professionals), has passed more than 20 years since the examination of 1997, and has become an exhibition certificate in the field of financial risk investment, which has sent a large number of high-level talents to the field of global financial risk control and promoted the promotion and progress of global financial risk control management.
The FRM exam is divided into two levels and nine subjects, covering quantitative analysis, market risk, credit risk, operational risk, fund investment risk and other different financial fields.
The FRM Level 1 exam requires candidates to master the theoretical knowledge of financial instruments, that is, to understand the market foundation and its definition, and the methods of measuring risks.
The FRM Level 2 exam mainly requires candidates to learn the ability to apply financial tools on the basis of understanding the related concepts of financial risk control management application.
The purpose of arranging FRM examination is to ensure that FRM candidates know from the bottom of their hearts the basic abilities that must be possessed by successful IGE FRM holders.
CFA employment prospects: hold CFA qualification certificate in investment field, and basically have admission ticket to Wall Street. Many investment management institutions in the United States, Canada, Britain and other countries have even regarded CFA qualification as the basic requirement for their employees to enter the job, so financial people with CFA qualification certificates have better employment prospects.
World-renowned institutions that employ many CFA holders include Merrill Lynch, Goldman Sachs, Morgan, Citigroup and PricewaterhouseCoopers. CFA holders are more sought after in China.
CFA's career direction includes: investment bank manager, fund manager, financial manager, project director, CEO, senior fund analyst, fund management director, audit project manager, CEO, tax manager, financing manager, chief cashier, chief financial officer, senior financial settlement manager, senior investment analysis manager, chief financial officer, senior financial settlement manager, securities analyst, chief financial officer, investment consultant, investment banker and trader.
Employment prospect of FRM: The financial industry has always had benefits and risks, and high benefits also brought ultra-high risks. So now in China, whether it is financial holding companies, securities companies, futures and insurance, risk control is increasingly put on the agenda.
Generally speaking, the holders of FRM certificates are mainly employed by financial risk management department, financial unit audit department, asset management department, fund manager, financial trader, investment banker, commercial bank, risk technology industry, risk consultant, enterprise accounting and audit department. And CFO, MIS, CIO, etc.
In the field of financial certificates, there is often such a joke: CFA+FRM= invincible in the world! This is not an exaggeration. CFA pays more attention to the comprehensiveness of investment knowledge, while FRM pays more attention to the professionalism of risk management, and the two can complement each other.
CFA with perfect investment knowledge will become a sought-after talent in the financial field if it is more diligent in risk management. FRM, which is good at risk management, will be very rare if its investment analysis ability goes further, and will be more favored by major financial institutions.
In addition, the two can be integrated into the content of the tested knowledge. As far as the examination content is concerned, CFA and FRM have a considerable proportion of overlapping content, and CFA has a wide range of knowledge. If you pass CFA Level 2 and then take the FRM exam, you will need less incremental review time. Both. No problem.
In the future, CFA talents and FRM talents will have more room for development because of their professionalism.
CFA related content is recommended to read.