Hello all,
When I applied the CPD credits of GARP with my test scores of CFA L2, I was asked to describe the content of my exam. One of the options is ERM, and I checked it. But I don’t know much about the content of CFA exam, especially L2, directed related to ERM. In this forum I found topics on ERM specifically mentioned the COSO framework. But in addition to the technical part (VaR/default probability/sensitivity analysis/scenario analysis/backtesting etc.), it seems other content are remote from CFA tutorials. Can someone who knows more share your opinion with me on this issue? Maybe you have not taken the CFA or FRM exams, but your ERM work experience will be an important addition to this issue.
Thank you.
I believe ERM stands for ENTERPRISE Risk Management, not Entrepreneur.
Level 1 covers Risk Management under Portfolio Management, covers ERM.
Level 3 also covers one reading on Risk Management, covers ERM.
CFA syllabus is more on Financial Risk Management (subset of ERM).
To fino_abama:
Corrected.
So, as far as you know, is there a comprehensive ERM designated program like CFA? Exclude FRM (GARP) and PRM (PRMIA)?
You can look up the Institute of Risk Management (IRM). They are more ERM-oriented.
To fino_abama:
Yes, they provide the certificate and diploma for ERM study. Just that the number of students is not as large as the other associations. Thank you.
Oh yes, there is also CERA (Chartered Enterprise Risk Analyst/Actuary) from SOA (Society of Actuaries) or Institute and Faculty of Actuaries. But expect a lot of math.
To fino_abama:
I took a rough look, this CERA is indeed more quantitative. Although I haven’t intended to take this certificate at present, its courses can be used for self-study. Thank you.