The FRM® Primer

UNICOM
London, Uxbridge, Middlesex, United Kingdom

Course Format: Classroom | E-learning | Virtual Class | Online | On-site | Blended | Self-paced

Course Description:

'' UNICOM offers the "FRM Primer" training course for those wishing to take the FRM examination. This is the world’s most prestigious certification program that measures a financial risk manager’s capabilities.

Background and Objectives
GARP (the Global Association of Risk Professionals) states that its Financial Risk Manager (FRM) certification is "the only globally accepted program for measuring a risk management professional’s capabilities", and take up has been growing at around 40% per annum. However, the course of study leading to the examination is arduous and can be extremely daunting when undertaken on one’s own.

UNICOM now offers the "FRM Primer" course for those wishing to take the FRM certification. The FRM syllabus is divided into modules and these are covered in evening classes so as to fit in with the busy risk practitioner’s schedule. There is also a separate "FRM Clinic" which takes place on a Saturday, close to the time of the exam. Small groups give maximum opportunity for tailoring the course to individual requirements.

Both the "FRM Primer" and "FRM Clinic" can be booked separately, as can the individual modules. Courses are unique to UNICOM and take place in the London area.
The course runs between October and November every year.

Detailed Information about the Course

Quantitative Analysis - 25%

Logarithms and exponents
Probability distributions
Time value of money
Mean, standard deviation, correlation, skewness & kurtosis
Estimating parameters of distributions
Hypothesis testing
Linear regression and correlation
Statistical properties and forecasting of correlation, covariance and volatility
Extreme value theory; basic principles
Monte Carlo analysis

Market Risk Measurement and Management - 25%

Interest rates and bond pricing
Interest rate, foreign exchange, equity, and commodity risks
Valuation and risk analysis of: futures, forwards, swaps, and options
Derivatives on fixed income securities, interest rates, foreign exchange, equities and commodities
Emerging market risks including currency crises
Identifying and measuring risk exposures
Value at Risk:
definition, delta-normal, historical simulation, Monte Carlo implementation
limitations and alternative risk measures, e.g.,conditional value at risk

Asset management risk:
portfolio risk
tracking errors
performance attribution
risk budgeting

Stress testing
Liquidity Risk
Measuring and managing corporate exposures, including cash flow at risk

Credit and Operational Risk Measurement and Management - 25%
Credit ratings
Default probabilities
Credit spreads
Actuarial approach and CreditRisk+
Contingent claim approach and the KMV Model
Credit migration, transition matrices and CreditMetrics
Counterparty risks:
exposures
recovery rates
agreements
risk mitigation techniques including rating triggers, collateral, and seniority clauses

Credit derivatives
Margining
Netting
Portfolio credit risk
Settlement risk
Special purpose vehicles
Types of operational risk
Workflow in financial institutions
Severity and frequency distributions for operational risk
Aggregated distributions
Differences between market and operational VaRs
Hedging operational risk using financial engineering
Insuring operational risk
Measuring firm-wide risk
Correlations across market, credit, and operational risk
Definition of risk capital
Allocation of risk capital across the firm
Evaluating the performance of risk management systems
Implementation risks of risk management

Investment Risk Management 25%

Traditional investment risk management
Return metrics (Sharpe ratio, information ratio, VaR, relative VaR, tracking error, survivorship bias)
Implementing VaR
Benchmarking asset mixes
Risk decomposition and performance attribution
Risk budgeting
Tracking error
Setting risk limits
Risk of alpha transfer strategies
Risk management issues of pension funds
Hedge fund risk management
Risk-return metrics specific to hedge funds (drawdown, Sortino ratio)
Risks of specific strategies (fixed-income arbitrage, merger arbitrage, convert arbitrage, equity long/short-market neutral, macro, distressed debt, emerging markets)
Asset illiquidity, valuation, and risk measurement
The use of leverage and derivatives and the risks they create.
Problems in measuring exposures to risk factors (dynamic strategies, leverage, derivatives, style drift)
Correlations among hedge funds and between hedge funds and other assets






...''

Phone:+44 (0)1895 256484

School Address:

UNICOM R&D House
One Oxford Road
Uxbridge, Middlesex
UB9 4DA, UNITED KINGDOM

Tel: +44 (0)1895 256484
Fax: +44 (0)1895 810201
Email: info@unicom.co.uk

Jobs & Resumes: London, Uxbridge
Houses & Roommates: London, Uxbridge

Balanced Scorecard: Advanced Organisational Cascade
Practical KM I: Delivering sustained business performance through implementing KM
Practical KM 2: Knowledge Capture And Packaging Skills
Achieving Process Excellence
APMP - Fast track
Project Portfolio Management
Trainning Courses Six Sigma
Improving Corporate Governance with the Balanced Scorecard
Idea Mapping: Organise your thinking for business advantage
Using Project Intelligence to Transform Software Projects and Achieve Business Benefits
The FRM® Exam One-Day Clinic
e-Business Testing Basics
Risk Based Testing
Exploratory Testing
Knowledge Sharing for Success in Outsourcing
Managing A Testing Project Effectively
LINUX Introduction
Solaris System Administration - Part I
UNIX Introduction

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