The Scope of FRM in India

Risk is one of the most important factors in the business. By taking risks, an opportunity can be created or a path to downfall. Risks depend on the sector of business. For e.g, if your bank or business decides to take a risk by giving a loan of let’s say 150 crores, you will, before giving a loan to that company, would find out about its history and find out that would that company be able to pay back the principal amount along with the interest. If so, you can give them a loan. This is what a Financial Risk Manager a.k.a. FRM, does. Financial Risk Manager is one of the most reputed and high credibility certifications in the risk management field which is given by GARP, Global Association of Risk Professionals. FRM is the only course that gives in-depth knowledge about the associated risks with the business and how can risk decisions be taken. The demand for a Financial Risk Manager is very high in many industries as there is a need for risk identification, evaluation, and management, and all of these are done by an FRM.

If we talk about FRM’s scope in India, there is a lot of scopes given how India is becoming a hub for many companies, an increase in MNCs, and many startups becoming unicorns. Also not to forget, the demand for FRM is very high as well. Risk is in every industry and to identify it, evaluate it, and manage it requires a good understanding and knowledge of how risk is managed. The Financial Risk Manager course deals with this. Also, students who are CA’s can do this course to enhance their resume and knowledge and crack a much better deal with the companies and get better opportunities.

The FRM exams are conducted in two parts, i.e., part 1 and part 2. Both the exams can be cleared within a year depending on the student’s capability. Eligibility for appearing for FRM exams is not tough. In fact a final year undergraduate student can appear for the FRM exams as well but to be eligible to get a certificate of FRM, that is where all the hard work and patience comes. To get a certificate of FRM, you must

• Pass both the parts i.e. Part 1 and 2 of the FRM exams

• Have a minimum of 2 years of work experience

• Be an active fellow membership of GARP

All these must be done within 5 years from the date of registration.

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