Financial Risk Manager (FRM). It is a professional qualification of international professional risk managers. Certification and examination of Global Risk Management Association (GARP). FRM is specially aimed at people engaged in financial risk management, including financial product market risk managers, credit asset risk managers, foreign exchange risk managers, price risk managers, business risk managers and legal, accounting and tax risk managers. FRM certification arranges training contents according to the actual needs of these people, and teaches professional knowledge such as quantitative analysis, market risk measurement and management, credit risk measurement and management, operation and comprehensive risk management, law, accounting and ethics, and customizes financial risk management professionals. At present, financial markets and financial products are increasingly complex and interdependent, and only those institutions that can effectively manage and control risks can succeed. The purpose of FRM qualification examination is to make the title winner have the necessary risk knowledge for independent risk management and decision-making. A portfolio manager does not understand simple fixed income analysis; A quantitative analyst doesn't know much about the daily fluctuation of the yen/dollar exchange rate; A financial officer does not know the basic requirements of the Federal Reserve for high-risk operation of derivatives. These have become commonplace in the industry. Therefore, the design of FRM test is based on whether the candidate has basic analytical skills, general risk knowledge, intuitive ability gained from capital market experience and other knowledge and abilities.

Although institutions and organizations are used to using extremely complex risk analysis models to manage, control and prevent risks, in fact, risk managers can use the skills of empirical criteria to quickly assess and control risks and test and test the assumptions and results of the analysis models. The FRM exam attaches great importance to these operational skills. In addition, FRM tests also test the risks, regulatory practices and credit risk concepts of different financial markets and various financial instruments.

With the rapid growth of the domestic market demand for financial risk management talents who are familiar with international practices and have professional qualifications, more and more financial practitioners will obtain certificates by participating in various financial certification trainings to enhance their personal competitiveness. However, it is not easy to get a certificate. For domestic candidates, there are the following three thresholds, which need to be done according to one's ability.

Threshold 1: The examination is difficult: the examination subjects are comprehensive, covering market risk, credit risk, operational risk, corporate governance and other fields, involving modern management, finance, economics, quantitative statistics and other disciplines, and the knowledge structure is complex. Therefore, candidates need to undergo strict professional training, otherwise it will be difficult to understand the complex quantitative relationship and the risk nature of business and products.

Threshold 2: The examination cost is high: the knowledge is wide, the reading volume of teaching materials and review materials is about 654.38+00000 pages, and candidates spend a lot of time on review.

Threshold 3: it is not easy to obtain qualification: the application conditions for FRM certification examination are relatively loose, and there are no restrictions on candidates' academic qualifications and industries. College students can also apply. However, if you want to get the professional qualification certificate issued by GARP, you must pass many obstacles. First of all, you must pass the difficult FRM exam; Then have more than 2 years working experience in the field of financial risk or other related fields before you are eligible to apply to become a GARP member; In addition, it is necessary to sign a professional ethics convention with GARP in order to really get started and become a professional financial risk manager.

The financial industry is a high-risk industry, and there are many financial risks such as exchange rate risk, interest rate risk, accounting risk, market risk and credit risk. The gradual opening of China's financial market and the rapid entry of foreign financial institutions have increased the operational risks of financial institutions in China. Therefore, at present, the accounting and auditing departments of domestic financial holding enterprises, securities companies, investment banks and commercial banks, asset management companies, futures dealers, insurance companies and large enterprise groups have strengthened financial risk control. This has also led to a sharp increase in the demand for financial risk management professionals in these industries. Enterprises are thirsty for talents, but due to the lag of relevant education in China, the supply of talents is obviously insufficient. Well-trained financial risk management talents with professional qualifications are rare. The shortage of talents leads to an increase in salary. It is understood that the current financial risk managers are well paid. Taking part in professional training and obtaining the qualification certificate is a shortcut to become one of the hot talents.

At present, major banks and foreign banks in China urgently need to recruit talents with FRM certificates. The annual salary is above 300,000-500,000 yuan.

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