GARP FRM Part I
Builds the foundations of financial risk management: the principles of risk governance, the quantitative tools used to measure risk, how financial markets and products work, and how instruments are valued.
Learning Objectives
6 objectivesRisk governance and culture
Explain how governance, risk appetite and risk culture shape decision-making within a financial institution.
Learning from failure
Draw practical lessons from well-known risk management failures and apply them to current practice.
Quantitative foundations
Use probability, statistics, regression and volatility modelling to measure financial risk.
Markets and products
Describe how financial markets operate and explain the behaviour of derivatives and fixed-income products.
Valuation and risk models
Value common financial instruments and explain the models used to measure the risks they carry.
Risk measures
Calculate and interpret common risk measures, such as value at risk and expected shortfall, and explain their limitations.
Programme Outline
4 topicsFoundations of Risk Management
Covers the foundational concepts of risk management, including risk governance, the creation of risk value, and the use of risk management failures as learning tools.
Quantitative Analysis
Covers the statistical and probabilistic tools used to measure and manage financial risk, including regression and volatility modelling.
Financial Markets and Products
Covers the structure and function of financial markets and the products traded within them, including derivatives and fixed income.
Valuation and Risk Models
Covers the valuation of financial instruments and the models used to measure their associated risks.
Hands-On Resources
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