Training is on the job and depends on the employer. The following organisations offer relevant examinations leading to industry-recognised qualifications:
• CFA Institute - the Chartered Financial Analysts Programme.
• Chartered Insurance Institute (CII)
• Global Association of Risk Professionals (GARP)
• Institute of Risk Management (IRM)
The GARP examination, combined with two years' experience, leads to certification as a financial risk manager (FRM). The programme, which is internationally recognised, reflects the changing role of the risk professional and is delivered in two stages:
• Level 1 covers core areas of risk management, such as quantitative analysis, financial markets and fundamental risk management.
• Level 2 covers specific topics on the practical implementation and execution of measurement and management of market, credit and operational risk, as well as a section covering current issues.