The FRM Certificate has been adopted by companies as a benchmark to ensure their risk management employees are well versed in the latest financial risk concepts. The Certificate identifies risk professionals that are qualified to provide competent advice based on globally accepted industry standards and who are committed to personal professional development. Since 1997 over 6,500 individuals have successfully completed the FRM Certification program, representing 3,000 plus companies. The Institute has joined hands with the Association of Banks in Lebanon and the Union of Arab Banks in offering FRM review courses in Beirut, Qatar, Bahrain, Saudi Arabia, Cairo, Kuwait, UAE and others.
Recognized by your peers and employers as an expert in financial risk management.
Helps to expand your career path
Add the FRM designation to your name.
Benefits derived from preparing for the FRM Exam
Show your commitment to professional development.
Enhance your skill on globally accepted industry practices.
Broaden your knowledge in financial risk management.
Become current with industry standards.
FRM Highlights
The FRM Certificate has been adopted by companies as a benchmark to ensure their risk management employees are well versed in the latest financial risk concepts.
Since 1997 more than 6,500 individuals have successfully completed the FRM Certification program, representing 3,000 plus companies globally.
185 companies were represented by 5 or more 2004 FRM candidates, including the world's largest banks, consulting firms, securities & brokerage firms and academic institutions.
Historical pass rate is 51.8%.
BASLE II and FRM
Basel II will be adopted by the end of June 2004, with implementation to take effect in Lebanon by year-end 2006, according to the Bank for International Settlements (BIS). The Basel committee developed more risk-sensitive standardized and internal measurement approaches to capital adequacy. The new framework is intended to align capital adequacy assessment more closely with the key elements of banking risks and to provide incentives for banks to enhance their risk measurement and management capabilities.
The primary changes to the minimum capital requirements set out in the 1988 Accord are in the approach to Credit Risk and in the inclusion of explicit capital requirements for Operational Risk . A range of risk-sensitive options for addressing both types of risk is elaborated. For credit risk, this range begins with the standardized approach and extends to the “foundation” and “advanced” internal ratings-based (IRB) approaches. A similar structure is envisaged for operational risk. These evolutionary approaches will motivate banks to continuously improve their risk management and measurement capabilities.
In an increasingly complex and interdependent world of financial markets and products, only those organizations which are able to effectively manage and control their risks will have the ability to succeed. The Financial Risk Manager (FRM®) certification ensures that an individual possesses the body of knowledge necessary for independent risk management analysis and decision making.
The FRM® examination is designed to test for a mixture of basic analytical skills, general knowledge and intuitive capability acquired through experience in capital markets. Notwithstanding all the sophisticated models currently used by organizations to manage risk, it is most often the simple "rule of thumb" techniques that allow successful risk managers to quickly assess and control risk, as well as test the assumptions and results of the models. It is these practical techniques that will be emphasized on the FRM® examination. In addition, the individual will be tested on the general risks of various markets and financial instruments, regulation, and credit risk concepts.
The BASLE Committee has been examining the capital treatment of credit risk mitigation techniques, including collateral, guarantees and credit derivatives, and netting. The consultation process has confirmed the view that improved risk sensitivity in minimum capital requirements with respect to greater recognition of such techniques can provide positive incentives to banks to improve risk measurement and management. The FRM curriculum encompasses some of the most sophisticated techniques of mitigating credit risk.
The FRM® examination is administered by the Global Association of Risk Professionals (GARP®). The FRM exam is based on the core body of knowledge that contains the following topics:
Quantitative Analysis (10%)
Market Risk Measurement and Management (25%)
Credit Risk Measurement and Management (30%)
Operational Risk Management and Legal, Accounting, and Ethics (25%)
Risk Management and Investment Management (10%)
Registration and Enrollment Procedure
Please fill in the registration form and fax it to IFA 961 1 346550. The registration form can be downloaded from IFA's website: www.instffa.com To register you must return the signed registration form by 15 May 2004 for the full course cycle (parts 1 and 2) and by 30 September 2004 for the three-week review part (part 2).
Class size will be restricted to a maximum of 25 students. The course management retains the right to decide whether the course will take place after the registration period has expired. Registrations will be accepted in the order of receipt and will be acknowledged in writing.
Important: In order to take the FRM exam, candidates need to enroll directly with GARP in New York/USA. The enrollment form can be downloaded at www.garp.com. Make sure that the completed form is mailed to GARP before their registration deadline expires.
COURSE ORDER FORM
TRAINING REQUIRMENTS
2005 FRM Exam Preparation Course
The Institute for Financial Analysts(IFA) specializes in providing preparation courses for international exams such as FRM (Financial Risk Manager) and CFA (Chartered Financial Analyst). The IFA preparation course for the 2005 FRM is structured according to the outline for the 2005 FRM exam. The course teaches the most complex and frequently asked concepts and gives a framework to structure the exam preparation.
FEES
The course fee for the full course cycle (part 1 and 2) amounts to $2500. The entire course fee is payable at the beginning of the course. Registrations can be cancelled up to four weeks before the start of the course. After this deadline the full amount is due and no refunds will be made.
GARP Required Disclaimer
GARP® does not endorse, promote, review or warrant the accuracy of the products or services offered by the Institute For Financial Analysts (IFA) or FRM® related information, nor does it endorse any pass rates claimed by the provider. Further, GARP® is not responsible for any fees or costs paid by the user to IFA nor is GARP responsible for any fees or costs of any person or entity providing any services to IFA. FRM® , GARP® and Global Association of Risk Professionals® are trademarks owned by the Global Association of Risk Professionals, Inc.
FRM Course Schedule* (Classes are from 18:00 21:00)
Review 2005
Topic
Thr, 2 June
Basel II Introduction
Tue, 7 June
Thr, 9 June
Quantitative Analysis
Quantitative Analysis
Tue, 14 June
Thr, 16 June
Quantitative Analysis
Quantitative Analysis
Tue, 21 June
Thr, 23 June
Quantitative Analysis
Quantitative Analysis
Tue, 28 June
Thr, 30 June
Credit Risk Meas. and Mgt
Credit Risk Meas. and Mgt
Tue, 5 July
Thr, 7 July
Credit Risk Meas. and Mgt
Credit Risk Meas. and Mgt
Tue, 12 July
Thr, 14 July
Credit Risk Meas. and Mgt
Credit Risk Meas. and Mgt
Tue, 19 July
Thr, 21 July
Credit Risk Meas. and Mgt
Credit Risk Meas. and Mgt
Tue, 26 July
Thr, 28 July
Market Risk Meas. and Mgt
Market Risk Meas. and Mgt
Tue, 2 Aug
Thr, 4 Aug
Market Risk Meas. and Mgt
Market Risk Meas. and Mgt
Tue, 9 Aug
Thr, 11 Aug
Market Risk Meas. and Mgt
Market Risk Meas. and Mgt
Tue, 16 Aug
Thr, 18 Aug
Market Risk Meas. and Mgt
Market Risk Meas. and Mgt
Tue, 23 Aug
Thr, 25 Aug
Market Risk Meas. and Mgt
Market Risk Meas. and Mgt
Tue, 30 Aug
Thr, 1 Sep
Market Risk Meas. and Mgt
Market Risk Meas. and Mgt
Tue, 6 Sep
Thr, 8 Sep
Operational and Integrated Risk Management
Operational and Integrated Risk Management
Tue, 13 Sep
Thr, 15 Sep
Operational and Integrated Risk Management
Operational and Integrated Risk Management
Tue, 20 Sep
Thr, 22 Sep
Operational and Integrated Risk Management
Operational and Integrated Risk Management
Tue, 27 Sep
Thr, 29 Sep
Risk Management and Investment Management
Risk Management and Investment Management
Tue, 4 Oct
Thr, 6 Oct
Risk Management and Investment Management
Risk Management and Investment Management
Part 2
Tue, 11 Oct
Thr, 13 Oct
Market Risk Meas. and Mgt
Market Risk Meas. and Mgt
Tue, 18 Oct
Thr, 20 Oct
Risk Management and Investment Management
Quanti tative Analysis
Tue, 25 Oct
Thr, 27 Oct
Credit Risk Meas. and Mgt
Operational and Integrated Risk Management
Study Material
The study material used in the course condenses and simplifies all the important topics contained in the primary literature recommended by GARP. IFA has regional distribution for the Middle East with Schweser, so candidates will receive Schweser FRM Study Notes. Teaching/studying is based on the following material:
For part 1 of the course IFA has developed slides which contain the most important concepts and frequently asked questions.
The course is based on GARP's FRM Reference Manual which summarizes the primary literature to a necessary minimum.
For part 2 of the course IFA has compiled old FRM exam questions (1998 to 2002) which will be reviewed and explained.
The primary literature recommended by GARP can be used as additional study material to get a deeper understanding of a particular topic.
