Global Association of Risk Professionals

Global Association of Risk Professionals (GARP) is a not-for-profit organization and a membership association for risk managers. Its services include setting standards, training, education, industry networking, and promoting risk management practices. Founded in 1996 and headquartered in Jersey City, New Jersey, with additional offices in London, Washington, D.C., Beijing, and Hong Kong.[6][7][8][9][10] GARP offers several foundational and certificate programs, the best known of which is the Financial Risk Manager (FRM) certification.

Global Association of Risk Professionals
AbbreviationGARP
Formation1996
TypeNot-for-profit organization
PurposeRisk Management Education and Certification
HeadquartersJersey City, New Jersey
Coordinates40°43′34.62″N 74°2′1.43″W
Region served
Worldwide
Membership
257,000
Official language
English
Bradford Hu
Richard Apostolik
Revenue
USD $52.39 million (2019)
Expenses USD $41.50 million (2019)
Students
81,000 (FRM only)
Websitewww.garp.org
[1][2][3][4][5]

Financial Risk Manager (FRM)

The Financial Risk Manager (FRM) is a professional designation issued by GARP. The FRM accreditation is one of the flagship certifications for financial risk professionals dealing in financial markets, along with the PRM offered by the Professional Risk Managers' International Association.

FRMs possess specialized knowledge in assessing risk and typically work for major banks, insurance companies, accounting firms, regulatory agencies, and asset management firms.

The FRM program follows the major strategic disciplines of risk management: market risk, credit risk, operational risk, and investment management.[11][12] Candidates must pass two FRM exams and attain 2 years of relevant practical work experiences prior to being certified.[13][14][15][16][17][18][19][20][21][22][23][24]

Other certificate programs

GARP offers three role-based risk certification – the Financial Risk Manager (FRM) and Energy Risk Professional (ERP) and the Sustainability and Climate Risk (SCR) certificates.

It provides on-going education through its Continuing Professional Development programming.

It also offers two foundational courses in risk management with Foundations of Financial Risk and Financial Risk and Regulation.[25][26][27]

See also

References
  1. "GARP's Competitors, Revenue, Number of Employees, Funding, Acquisitions & News". Owler. Owler Inc. Retrieved 12 October 2020.
  2. "Global Association of Risk Professionals (GARP)". Cause IQ Organization Profile. Nonprofit Metrics LLC. Retrieved 12 October 2020.
  3. "2019 Annual Report". Annual Report 2019. Global Association of Risk Professionals. Retrieved 12 October 2020.
  4. "Global Association of Risk Professionals (GARP)". Open Yearbook. Union of International Associations. Retrieved 12 October 2020.
  5. "Bradford Hu, Chief Risk Officer". About Citi. Citigroup, Inc. Retrieved 25 October 2020.
  6. Nitschke, Lori. "GARP to Postpone May Exams Due to Uncertainty Surrounding COVID-19". Business Wire. Business Wire. Retrieved 12 October 2020.
  7. Donohue, Christopher. "Global Association of Risk Professionals" (PDF). DePaul University Finance Department. Retrieved 15 October 2020.
  8. Lore, Marc; Borodovsky, Lev (4 April 2000). Professional's Handbook of Financial Risk Management. Butterworth-Heinemann. p. 14. ISBN 978-0750641111. Retrieved 15 October 2020.
  9. "Global Association of Risk Professionals Inc". Bloomberg. Bloomberg Inc. Retrieved 16 October 2020.
  10. "SAS, GARP survey: 81 percent of risk professionals already seeing value of AI". SAS. SAS Institute Inc. Retrieved 25 October 2020.
  11. Chen, James. "Financial Risk Manager (FRM)". Corporate Finance & Accounting. Investopedia. Retrieved 12 October 2020.
  12. W. Boyd, Kenneth. "CFA® vs FRM". Accounting Institute for Success. Accounting Institute for Success. Retrieved 12 October 2020.
  13. "FRM® Certification vs. CFA® Charter: Make an Informed Decision". Kaplan Schweser. Kaplan, Inc. Retrieved 12 October 2020.
  14. Macon, Sophie. "FRM (Financial Risk Manager): A Beginner's Guide". 300 Hours. 300 hours. Retrieved 12 October 2020.
  15. "Content, format, Length, everything about the FRM® exam". Top Finance. Top Finance. Retrieved 12 October 2020.
  16. Reed, Eric. "What Does A Financial Risk Manager Do?". Yahoo. Yahoo Finance. Retrieved 16 October 2020.
  17. "HKUST Enters into Partnership with the Global Association of Risk Professionals". The Hong Kong University of Science and Technology. The Hong Kong University of Science and Technology. Retrieved 25 October 2020.
  18. "Financial Risk Manager (FRM)". FINRA. Financial Industry Regulatory Authority. Retrieved 25 October 2020.
  19. "Financial risk management". KPMG. KPMG LLP. Retrieved 25 October 2020.
  20. "Financial Risk Management". Schulich School of Business. The Schulich School of Business, York University. Retrieved 25 October 2020.
  21. "What does a financial risk manager do". Talentedge. TALENTEDGE. Retrieved 25 October 2020.
  22. Biktimirov, Ernest. "Global Alphabet Soup: Internationally Recognized Professional Designations in Finance". SSRN. Brock University. Retrieved 5 November 2020.
  23. Orr, Leanna. "The Rise of the Chief Risk Officer". Institutional Investor. Institutional Investor LLC. Retrieved 5 November 2020.
  24. Greenfield, Jeremy. "Risk Managers Get Certified". WSJ. Wall Street Journal. Retrieved 5 November 2020.
  25. "2019 Annual Report". Annual Report 2019. Global Association of Risk Professionals. Retrieved 12 October 2020.
  26. Porter, Tony; Heather, McKeen-Edwards (11 February 2013). Transnational Financial Associations and the Governance of Global Finance: Assembling Wealth and Power. Routledge. p. 71. ISBN 9780415659741. Retrieved 16 October 2020.
  27. Philippe, Jorion (9 November 2006). Value at Risk: The New Benchmark for Managing Financial Risk (3rd ed.). McGraw Hill Professional. p. 43. ISBN 9780071736923. Retrieved 16 October 2020.
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