Articles

15 Reasons to Pursue FRM Certification

Estimated reading time: 11 minutes

 

Introduction 

Have you ever felt like you are the only one in the room without the GARP FRM certification? It happens. More people are seeking professional accreditation in the financial sector.

And it can intimidating to be in the same room with colleagues with higher qualification levels. There’s so much attached to a professional certificate that it could impact your career negatively if you chose not to pursue one.

 

Overview

The Global Association of Risk Professionals (GARP) Financial Risk Manager (FRM) program is in high demand in the finance sector.

Many employers are looking at this endorsement to determine whether a person possess the skills and knowledge required for successful high-level performance.

I can tell you that many employers around the world only want to hire the best-qualified individuals who will make a positive contribution to the organization and who have demonstrated that willingness and ability to go beyond the extra mile. Certified risk professionals are high on this list!

You have seen the initials on your colleague’s office door, right before or after their name; CPA, CFA, CPP, CISA and the list goes on and on.

These initials indicate that the person earned the right and met the required standards to become risk professionals, accountants, financial analysts, financial planners and credit professionals to mention a few.

This designation shows that, not only have you passed the financial risk manager course exams, but it portrays a high level of dedication to your career path and your commitment to uphold those standards held high by risk professionals around the globe.

Everybody knows that getting a professional accreditation is the primary step in career advancement.

Let’s take a look at the top 15 reasons you should get GARP certified.

 

1. You stand to make more money

Yes. Making money is extremely important and there is no reason to hide this fact. Getting a professional accreditation opens you up to greater earning opportunities, not just locally but internationally as well.

You can bet your bottom dollar on that fact. Many top earners in the finance sector have professional endorsements in their careers. 

There is an almost automatic pay rise and benefits that come with that stand-out title. You don’t even have to switch jobs or earn the experience. Nope. You can jump to a higher pay grade just after you receive this recognition.

And certification coupled with experience is one of the fastest ways to advance from a mid-level financial salary to a higher paycheck.

Before trying to negotiate a pay raise, it would be wise to think about pursuing the goal first. Getting certified as a financial risk manager can make a huge difference in salary, bonuses and even company perks.

Data by Payscale shows that there is at least a 25 % pay raise for newly approved individuals in the financial sector.

(See: https://www.payscale.com/data/economic-trends-2018-2019 and https://www.payscale.com/research/US/Job=Financial_Analyst/Salary)

 

2. Enhancing skills and knowledge

Getting that certificate highlights your competency and confirms your proficiency, skills, and career commitment.

Even if you graduated at the top of your class, or are well read or experienced in the financial sector we all need professional guidance.

The financial risk manager badge allows you the advantage of focusing on sharpening one particular skill that is in high demand…risk management.

Risk managers are lauded for their management skills and abilities and there is no reason why you cannot attain this feat.  

No matter how much you think you know right not, it is an undeniable fact that professional success requires continuous studying, reading, interacting with peers, and seeking information in your area of expertise.

It’s how you will get to stay on top of your field. Pursuing this particular title through the Global Association of Risk Professionals is a great way to do that.

In college education today, the formal curriculum is designed to equip students with a well-rounded training.

That is a good thing for it encourages career flexibility so that you can cash in on skills from various topics. However, the finance industry does not need Jacks of all trades. It requires you to be a master in one trade.

 

3. A stepping stone into the professional world

After graduating from college, many people find it hard to adapt to the workplace culture which is usually very different from their experiences and environments in college.

You can get a middle ground by first seeking a financial risk manager certificate before stepping into the job market.

This course can be a great intermediary between college and the professional world. You will get to earn the exact skills that you need to be a trailblazer in your new risk management job as a certified risk manager.

 

4. Just a short amount of time required

Fortunately, this course has only two main parts that are offered twice every year. Passing the exam and securing that certificate can take a much shorter time to complete than an MBA or a master’s degree.

This particular program ensure that your new risk management skills and knowledge are highly relevant and applicable in the current market and work environment.

With diligent study and going through plenty of sample questions, the entire journey might take just a few months out of your schedule.

This is certainly remarkably shorter than a 4-year undergrad degree or a 2-year master’s degree!

In most instances, you can choose to study part-time so that you don’t lose out on your salary. You only have to find the right educational outlet with the right program that fits into your daily schedule.

All it would take to advance your career would be a few hours in the evenings and on weekends.

 

5. Take on higher job responsibilities

Unlike degrees and diplomas, a professional certificate is a voluntary commitment to a field of knowledge in your career.

It is by immeasurable amounts an indicator of your industriousness and employers will be able to trust you with more responsibilities and senior roles because of that.

Many employers around the world are well aware of the benefits of having the designation. They understand that certified financial risk managers can adapt to changing environments and are equipped to anticipate and respond to various financial risk challenges.

In the global financial industry, this GARP exam may be the gateway that leads you to attain that higher position in your organization.

During this relatively short period of training, you get to sharpen your critical risk thinking skills and specialized knowledge in the industry.

And you will certainly find an easier climb up the corporate ladder with the designation than without it.

 

6. Value that last forever

At no point in your career will your certificate become obsolete. Because the course takes a practical approach to financial risk management education, what you learn today will likely be the relevant and extremely vital management knowledge tomorrow.

Then again, this qualification requires that you to stay up to date with the latest risk management trends, techniques and best practices in your field.

As you become an officially recognized member of your profession, the knowledge and the qualification gained through studying the financial risk management course will serve you for a long time down the years.

You will always be on the cutting edge of your profession.

 

7. Undeniable professional credentials

This validation by GARP recognizes your professional accomplishments, and for that reason, it stands out in your resume.

A professional certificate is the best impartial third person endorsement you can arm yourself within your career path. When governments, NGOs and big corporations look for individuals to fill up certain positions, they seek risk professionals like you.

This amazing course hones your skills, and soon you become one of the most sought-after individuals by employers in the financial industry.

Your invaluable professional knowledge and skills will also help to build your personal brand. This recognition will enhance your image among your peers and in the whole financial sector.

 

8. Building self-confidence

In a market where many professionals are getting 2nd and 3rd degrees, it can all be a little intimidating. What if there was a way to gain the same skills and knowledge in a much shorter period?

Having this qualification allows for that. In a short time, you will become a more self-confident professional who can handle high-level risk management situations and challenges.

The financial risk manager courses are created to match the standards in your profession, complete with performance optimization and ethics.

This validation will be an amazing asset for you to chart the way forward to your professional destiny.

 

9. Gaining greater job satisfaction

Whenever you get the knowledge and skills to do your job more effectively, you instantly fall in love with your career. In return, it leads to higher job satisfaction.

Instead of thinking about switching career paths, you will be able to better focus and become an expert in your field. And believe me, the self-fulfillment in that is more than any salary figure.

Your employer will get to have a peace of mind knowing that you have what it takes to get the job done.

Clients will trust the services of your company knowing that you have what it takes to take good care of them and the skill to expertly navigate them through the rough financial waters ahead.

Potential customers and present clients will feel safer in your certified hands.

 

10. Building a robust professional network

One of the most significant benefits of pursuing this qualification is that you will get the opportunity to network with many other professionals in your field.

There is never a better opportunity to build a solid network in your profession than taking up this professional risk manager course.

Through the vast global networks, you will be able to access tactical industry information and knowledge.

Having strong network alliances are also vital towards rising up the ranks and being considered as a risk management expert in your field. When people know you, what you do and how best you do it, the sky will be the limit after having the designation.

 

11. Improved productivity

In contrast to other employees, getting this qualification will make you far more productive. Professional risk management courses train you on applying the latest techniques in your daily tasks for best results.

You will be able to fulfill your duties far more effectively and efficiently.   

Do you feel like there are certain areas of your job that are difficult and need improvement? Why not take this path to enhance your performance? It is easy to tell the weak points in your career by looking at your past performance review.

Additionally, talking to your manager or even HR representatives may offer great insights. 

Yes, improving these areas in your job would mean going back to studying those books during the nights. But take it from us…it is well worth the effort.

The official governing body will offer the necessary guidance; mentoring and training that can equip you with new risk management skills and even enhance your existent ones.

 

12. Keeping tabs with the job market

In the midst of your career, anything could happen including a layoff or a furlough. What are you prepared to do in these situations? You could land on your feet…or your face.

The big question is; are you at par with the changing needs of the job market?

Professionally certified individuals regularly update their knowledge and skills. If you have to switch jobs, you will have an easier time finding employment.

Having a professional qualification is the added advantage that many employers seek.

 

13. Company policy

Many professions require a specific, consistent measure of knowledge improvement and advancement to maintain a particular status level. Whether a necessity or not, one needs to be up to date with what’s going on in the industry.

Without new knowledge and skills, you may lose credibility in the workplace. You may even lose your job position or a promotion within you organization.

You can stay updated by pursuing the financial risk manager mantle. Endorsement by GARP will be respected and acknowledged wherever you go on this planet.

It not only helps your career but can also benefit your organization. Your company will benefit from the improved image, your improved productivity, and new updated skills.

 

14. Diluted Degrees

Do you desire to be the best in your department? How about the best in your company? Do you want to impress at job interviews with colorful credentials?

If yes, then you should look for high-level qualifications that are better than that of the typical degree. Degrees have become so common that their credentials are slowly becoming less worthy of recognition.

You don’t need a second degree to understand the concepts of finance or risk management. Over-education is the reason why so many people are over-qualified for the jobs available. You can change that.

You can easily earn the skills you need and credentials that can impress your employer by obtaining the accreditation.

Professional certificate courses are geared towards achieving your career goals. You will be able to set yourself apart in a job market that is quickly shrinking and becoming more selective.

Also, remember that degree studies take a long time and require much more money to accomplish.

You will also have to make significant commitments in your social life and work leaves. Who wants all these inconveniences that don’t pay in the end?

Go for the option of being a certified financial risk manager and experience the difference in your life.

 

15. A path to career excellence

It usually happens that after graduation. Professionals have to take up jobs that are below their qualification level in order to gain work experience. This is just an unfortunate reality that many of us have to contend with.

These jobs waste much time and are tedious, slowly pulling you away from your dream. You don’t have to grow white hair at your place of work before you can earn recognition in your field.

A great way to ensure a better path is to pursue that risk manager title. Soon every employer will realize that you have what it takes to make a difference in the organization.

As a certified risk manager, you will have the acumen to achieve at the highest levels. We understand that the need to get certified as a financial risk manager can sound like a burden initially.

Nevertheless, an FRM endorsement does carry much value and should never be ignored. It is the skills and knowledge that you cannot learn by yourself online or by reading journals.

We believe that the answer to a rewarding career can be had by going for that title. A great income, professional recognition and client satisfaction are within your reach. 

We hope that we have shed some light on this matter. Good luck in your career and happy hunting!

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From your dedicated team,

The QuestionBank Family