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Profissional risk manager assest all types of risks including long lead items procurments, manpower risks in certain countries, equipment, dificulties for the overall completion of the project ---- in short the chalenges that may prevent reaching the target safely.
While financial risk managment is only looking for things that may affect the cost directly without consideration of risks that may incure due to way of completion of targets
Both must be evaluated before starting any project..
Financial Risk Management is one of the most important skills in the financial services industry, providing a clear and potential vision for the desired profits, as well as raising the trainee's ability to manage risk
To manage, evaluate and classify the occupational risks facing employers in line with the strategic objectives of the business, as well as to monitor the effectiveness and efficiency of the internal control system and its capacity.
Agree with Specialist
valuable comments.
Hi Team,
FRM vs PRM – Which is the Right Career Path? FRM is offered by GARP whereas PRM is offered by PRMIA. Both certifications covers topics core areas of Risk Management. However, FRM Certified professionals can be best fits for the roles of Financial Risk Consultant, Risk Assessments Manager, Risk Management Analyst, Head of Treasury Department, whereas, PRM Certified professionals are best suited for Predictive Analyst, Chief Risk Officer, Investment Risk Manager and Senior Risk Analyst.
FRM is more popular and have a longer history, while PRM is backed by elite universities like NUS and HK University. But as far as international reputation is considered, FRM is ahead of PRM. If you are starting your career in risk, then FRM is right for you and if you are an experienced professional, consider the PRM. Both the designations are well recognized and respected in the risk management field and hence you can’t go wrong with either of them.
Thanks for invitation,
in a very brief and precise wording and as most of text books are defined:
"Professional risk manager - PRM": is a designation awarded by the Professional Risk Managers' International Association. The organization grants the designation to financial risk managers who pass four exams covering financial theory; financial instruments and markets; mathematical foundations of risk measurement; risk management practices; and case studies, best practices, conduct, ethics and bylaws.Whereas, the "Financial Risk Manager - FRM", refers to a professional designation issued by the Global Association of Risk Professionals (GARP). The GARP FRM accreditation is globally recognized as the premier certification for financial risk professionals. It is suitable for individuals who want specialized knowledge in assessing risk on behalf of banks, insurance companies, accounting firms, regulatory agencies and asset management firms.
Professional risk manager: Any professional (person linked with a professional body) has been hired to ensure that his peers follow ethical rules that have been laid down by that professional body.
Financial risk manager: A person possessing professional financial body license authorized to ensure the follow-up of IAS's or other finance related government organizations rules is known as F.R.M. as well as his role is to ensure that a company does not invest in a venture that is highly risk that is to say not viable financially.
