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FAQ After Exam Questions about work experience

Nicole Seaman

Chief Admin Officer
Staff member
Subscriber
#41
Hi ,

I have submitted my experience in 1 month back.. still I have not heard anything from them. Is this normal timeframe ?

Regards
Hi @Sun1900 While I am not near to this particular data point (I'm sure @Nicole Seaman can say more tomorrow), it is my anecdotal understanding that a one month wait is not at all atypical, and may even be typical; e.g., https://www.bionicturtle.com/forum/threads/work-experience-verifying-time.9694/#post-61644
@Sun1900

It can take 4-6 weeks for GARP to approve your work experience. Sometimes it is received sooner than that, but if you submitted your experience 1 month ago, you are still in the normal timeframe. You can reach out to GARP member services to see if they can give you the status of your work experience review, but if you have not received a response from them after 6 weeks, please let me know and I can see what I can do to help.

Thank you,

Nicole
 
#42
@Sun1900

It can take 4-6 weeks for GARP to approve your work experience. Sometimes it is received sooner than that, but if you submitted your experience 1 month ago, you are still in the normal timeframe. You can reach out to GARP member services to see if they can give you the status of your work experience review, but if you have not received a response from them after 6 weeks, please let me know and I can see what I can do to help.

Thank you,

Nicole
Thank you so much David and Nicole ! I will definitely wait for 15-20 days more as you have suggested. Also will drop an email to them.

Thanks a lot for your prompt response! You guys have helped a lot.

Best Regards!
 
#43
hey
I cleared my FRM part 1 exam in January 2018, and currently preparing for the part 2 exam in November 2018 i.e. this year.

just a few months ago, I got a job as a Derivatives Trader at a firm in my city.
would the job profile count in as a relevant work experience?

Thanks
 

Nicole Seaman

Chief Admin Officer
Staff member
Subscriber
#44
hey
I cleared my FRM part 1 exam in January 2018, and currently preparing for the part 2 exam in November 2018 i.e. this year.

just a few months ago, I got a job as a Derivatives Trader at a firm in my city.
would the job profile count in as a relevant work experience?

Thanks
Hello @reul95

Please note that I moved your question to this thread, which has been very helpful to others when trying to determine if their work experience qualifies. Make sure to read through the comments, as you may find that someone else posted with the same work experience. Our search function in the forum is very helpful for questions like this. With over a decade of Q&A, it is very likely that you will find an answer quickly :)

Thank you,

Nicole
 
#45
Hi,

I read in the earlier messages of this thread that GARP usually looks for positions of AVP and above, and currently wondering if my situation would qualify.

I have 2.5 years of experience in an insurance company. The first 2 years with a “Management Trainee” title but really, it is a full-time 40 hour/week permanent position equivalent to a Junior Executive role with the added advantage of being rotated to several divisions. I spent 1 year in Financial Risk Management, where I mainly dealt with company-level credit, market, insurance and strategic risks. Then I spent a couple of months with the Actuarial Pricing team and Investment Fund Management team. Currently I am back in the Financial Risk team.

Recently sat for the Nov 2018 Part 1 exam but was just thinking ahead if I am taking this exam too early, and might be rejected when I pass both papers?

Thanks,
Adrienne
 

abhilashaa

New Member
Subscriber
#46
Hi,

I read in the earlier messages of this thread that GARP usually looks for positions of AVP and above, and currently wondering if my situation would qualify.

I have 2.5 years of experience in an insurance company. The first 2 years with a “Management Trainee” title but really, it is a full-time 40 hour/week permanent position equivalent to a Junior Executive role with the added advantage of being rotated to several divisions. I spent 1 year in Financial Risk Management, where I mainly dealt with company-level credit, market, insurance and strategic risks. Then I spent a couple of months with the Actuarial Pricing team and Investment Fund Management team. Currently I am back in the Financial Risk team.

Recently sat for the Nov 2018 Part 1 exam but was just thinking ahead if I am taking this exam too early, and might be rejected when I pass both papers?

Thanks,
Adrienne
Hi Adrienne,

After reading your post, I feel, give the exams first if you want to be in the Risk Field. Clearing both the exams usually takes an year (unless you are good at academics, which would mean you clear level 1 in Jan'19 and Level 2 in Jun'19). In any case, your financial risk field would be relevant for FRM. Also, once your clear both the levels, they usually give you 4 years to build 2 years of relevant experience.

If you want more clarity on the kind of experience GARP accepts, you can either write to them or take some guidance from one of the members here.

Thanks,
Abhilashaa
 

abhilashaa

New Member
Subscriber
#47
HI @Nicole Seaman - need your inputs here. I have a Operational Risk experience in one bank for 1 yr and 8 months and then a gap for 1 yr and 4 months. Currently, I am back to working for the last 5 months.

So the total operational risk experience is 2 years but with a break. Will that be an issue for GARP?
 

Nicole Seaman

Chief Admin Officer
Staff member
Subscriber
#48
HI @Nicole Seaman - need your inputs here. I have a Operational Risk experience in one bank for 1 yr and 8 months and then a gap for 1 yr and 4 months. Currently, I am back to working for the last 5 months.

So the total operational risk experience is 2 years but with a break. Will that be an issue for GARP?
Hello @abhilashaa

We cannot provide advice on GARP's work experience guidelines, as we are not directly affiliated with them. In the past, GARP has advised us to have our members contact them at memberservices@garp.org to ask specific questions about work experience. If you contact them and do not receive a timely response, please let me know and I will see if I can help.

Thank you,

Nicole
 

aypy

New Member
#49
Hi Adrienne,

After reading your post, I feel, give the exams first if you want to be in the Risk Field. Clearing both the exams usually takes an year (unless you are good at academics, which would mean you clear level 1 in Jan'19 and Level 2 in Jun'19). In any case, your financial risk field would be relevant for FRM. Also, once your clear both the levels, they usually give you 4 years to build 2 years of relevant experience.

If you want more clarity on the kind of experience GARP accepts, you can either write to them or take some guidance from one of the members here.

Thanks,
Abhilashaa
Hi Abhilashaa,

Thanks for your input. And yes, I definitely want to be in the risk field. I am mainly worried that I may not even get up to an AVP (or similar) ranking in the next few years seeing as I am starting from a fresh grad position now. And that my current experience might not be up to GARP's standards. But I will take your advice on asking GARP directly. Just cleared part 1 and will soldier on! :)

Thanks.
 

Amarnadh D

Member
Subscriber
#50
Hi David & Nicole, I've cleared FRM part 1 exam (wrote the exam in Nov'18) and currently preparing for Part 2 exam. Wanted to confirm whether my work experience is relevant as per GARP expected experience.

I've 10 yrs of experience in Financial industry - worked in multiple roles and profiles during this tenure. Worked for 4 yrs in Trade settlements reconciliation of Depository Trust Company (DTC) department (from 2008 to 2012) as Senior Analyst. 4 yrs into Asset services - Corporate actions department (was responsible for processing all corporate action event - as Process supervisor - from 2013 to 2017) and the last 2 yrs, i'm working with one of the top 3 banks in the world - into Funds remediation department - responsible for establishing the relationship b/w every fund of the client with the respective Investment Manager - as a Process supervisor.

It would be a great help if you can please advise me whether my role qualifies for the GARP Approved work experience or not. If not, please advise the relevant profiles and roles i need to be part of. So that, can plan accordingly in the coming days.

Thanks for your assistance in advance.
 

David Harper CFA FRM

David Harper CFA FRM (test)
Staff member
#51
Hi @Amarnadh D We are not supposed to opine specifically, apologies; it could create tension if a candidate referred back to our opinion, as you can imagine. That said, you obviously have several years of related (aka, relevant) experience. I personally cannot imagine you not qualifying, is as strongly as I probably should word my opinion ;) If your experience doesn't qualify, what are all we all doing here?!

@Nicole Seaman GARP previously published "Qualifying Job Titles" per the link to which I referred here https://www.bionicturtle.com/forum/threads/questions-about-work-experience.7207/post-25646 (although this was before GARP's web redesign; should we ask if they meant to "hide" such knowledge?) ... the new site is not giving candidates sufficient "prospective clarity" with respect to Work Experience Qualifications (in my opinion of course). Given the serious commitment that is the FRM, rational people want to have some confidence before the end of the exams. I think maybe we should convey this to Lisa ....
 
#53
Hi everybody,

I have one question that I would like to ask. I have sent my question twice to the memberservice team but I haven't received the response, I guess this is a busy time of the year, so they may be late (it has been around 2 weeks, though)

Here is my question:

I passed the FRM exam part 1 on 17/11/2018.

I work in the strategic planning and performance management for the insurance division of a bank (it is quite a big bank in Vietnam with $5 bil in market capitalization). We signed an exclusive partnership with Manulife Asia for many years to provide the insurance service.

My main job is to
- Gather, assess, data and making report on insurance performance (revenue, income, employees...) of our bank
- Make strategic advice, create plans, budgets...
- Building IT system, listing out all key components (there is risk involved as well)
- Control the key risk assessment (basically what could go wrong when partnering with Manulife, actions to take...)
...and many other responsibilities

My title in the job is "Insurance Strategic Specialist"

I wonder if this would qualify as experience to get the FRM certificate.

I also understand that we could not say this in a definite way that "My experience counts", I just want it in probable term.

Something like: "there is a high chance that your experience will/will not count" would be good enough.


Thank you very much
 
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