What is the difference between a master in financial risk management and a master in quantitative finance? Which is harder?
@GARP_Risk
@GARP_Risk
Risk Management focuses on loss identification, measurement, management and monitoring.
It's a Negative or Hazardous Incidence Reporting focussed science which has to be perfected and practised as a management art.
It's a Negative or Hazardous Incidence Reporting focussed science which has to be perfected and practised as a management art.
In a standard Financial Risk Degree, you might learn Financial Risk Management, ERM - Enterprise Risk Management and other aspects of Actuarial Sciences and/or QRM - Quantitative Risk Management which becomes very mathematical in overall terms.
Depends on where you are applying and at what level.
Each University has its own understanding of FRM - Financial Risk Management. Some programs are well-tailored to meet industry-level requirements, but they are a lot of rubbish degrees out there, which you should avoid.
Each University has its own understanding of FRM - Financial Risk Management. Some programs are well-tailored to meet industry-level requirements, but they are a lot of rubbish degrees out there, which you should avoid.
Ideally, select any #FRM Degree that teaches a high content of Numerate courses, 4GL Coding/Programming, Computing and preferably Data Science + Machine Learning) Analytical Models and AI Applications in Finance and Insurance.
A good business school that offers such a program should also provide access to financial markets using price data terminals, market connectivity, classroom trading and hedging learning, using ETPs - Electronic Trading Platforms such as Reuters or Bloomberg, and so on etc
Quantitative Finance is a degree that focuses on applications of mathematics and other quantitative subjects about Finance & Insurance in general and Derivatives in particular.
Quant Finance Degree, can push you into a wide variety of roles.
FRM — Financial Risk Management Degree is in demand, these days, but it might restrict your chances of finding a job outside the financial sector.
It makes you overspecialized to a very large extent.
FRM — Financial Risk Management Degree is in demand, these days, but it might restrict your chances of finding a job outside the financial sector.
It makes you overspecialized to a very large extent.
Most of these programs were brought to the forefront because banks and buy-side asset management firms were looking for graduates with quantitative skill sets. Commercial Banks implementing Basel II / III guidelines were the largest beneficiaries of such programs.
Solvency II which is nowadays applied across the European Insurance Industry (as per EU Directives) to manage capital adequacy standards and other ERM - Enterprise Risk Management assignments, normally hire Fully Qualified SOA / FSA/FIA Actuaries.
But I have seen some recent interest on the part of Non-Banking Firms in selecting dedicated FRM Graduates too; especially within the Market Risk, Investment Risk and Model Risk Management Domains.
Kindly note: if you are interested in working in the Non - FI Corporate Sector and/or Industrial Sector, you will be better off by doing a degree in Operations Research and / or Decision Sciences.
That will better equip you to deal with the Manufacturing / Industry sector-specific risk issues.
So Good luck where you end up!
So Good luck where you end up!
@threadreaderapp unroll
• • •
Missing some Tweet in this thread? You can try to
force a refresh
