The SCR Course by GARP is a globally recognized certification for professionals looking to lead in climate and sustainability risk management. With rising ESG regulations, the demand for experts is growing. The SCR Exam covers practical topics like climate science, policy, and financial risk, and is open to all backgrounds with no prerequisites. Boost your preparation with quality SCR Coaching, SCR Notes, and SCR Lectures. Earning the SCR credential enhances career opportunities and connects you to GARP’s global network in sustainable finance.






Developed by top global risk professionals and climate experts, the GARP SCR Certificate equips you with essential knowledge in sustainability, climate risk, nature risk, and transition planning. The comprehensive SCR Course is designed to meet the rising demand for professionals who can support companies in strengthening their climate risk strategies. Whether you’re preparing for the SCR Exam or seeking guidance through SCR Coaching, SCR Notes, and SCR Lectures, this certification helps you stand out to hiring managers focused on ESG and climate risk management. Boost your career in sustainable finance with the globally recognized SCR Certificate today.
The Sustainability and Climate Risk (SCR) Certificate from GARP (Global Association of Risk Professionals) is a globally recognized certification that helps professionals develop expertise in managing climate and sustainability-related financial risks. Here’s why you should consider it:
GARP is a globally respected risk management body, known for certifications like FRM.
The SCR certificate is recognized by top financial institutions, regulators, and businesses focusing on climate risk.
GARP is a globally respected risk management body, known for certifications like FRM.
The SCR certificate is recognized by top financial institutions, regulators, and businesses focusing on climate risk.
Climate Science & Policy – Understand key climate risk concepts.
Sustainability in Business – Learn how companies manage sustainability risks.
Financial & Risk Implications – Assess climate risks in financial decision-making.
Unlike FRM or CFA, you don’t need prior finance or risk experience—making it great for professionals from diverse backgrounds like finance, business, law, and sustainability.
Join GARP’s global network of risk professionals—connect with experts and explore career opportunities.
Stand out in job applications as companies prioritize climate risk experts.
The SCR Certificate Program and Exam covers the following topics
The SCR Certificate Program and Exam covers the following topics
To earn your Certificate, you’ll need to pass a multiple-choice Exam. Once you’re an SCR Certificate Holder, you are then strongly encouraged to participate in GARP’s Continuing Professional Development (CPD) program to help stay up-to-date with the latest best practices in risk management.
The SCR Exam is a 90-question multiple-choice Exam with two case studies designed to test your mastery of climate risk management. You have four hours to complete the SCR Exam, which is graded on a pass/fail basis.
The SCR Exam is offered in April and October at testing sites around the world. Seats are available on a first-come, first-served basis. To learn more about how to schedule an Exam, please visit our Exam Logistics page.
The cost of the SCR Program varies based on whether a candidate is registering during the early or standard registration window. Registration also includes six months of complimentary GARP Individual Membership for SCR candidates who have not previously received it from a different GARP program. For a specific pricing breakdown, visit our Fees and Payments page below.
SCR registration includes complimentary access to the official SCR eBook, our comprehensive digital GARP Learning platform, a full-length SCR Practice Exam, and more. To view all available resources, visit our Study Materials page.
While studying time varies per candidate, GARP recommends an estimated 100-150 hours of preparation time to be successful on the SCR Exam. GARP advises early registration to allow for a comfortable study pace.
Uncover the extensive benefits associated with pursuing the SCR Certificate.
Earn in-demand climate knowledge and skills for tackling today’s heightened physical and transition risks.
Learn about the latest pressing issues in climate risk, including nature risk assessment, transition planning, and carbon accounting and reporting.
Grab the attention of hiring managers seeking employees to immediately improve their company’s climate risk mitigation efforts.
Get a real-world look at climate change’s economic effect through timely case studies with Citi, L’Oreal, Kellogg, World Wildlife Fund, and other top organizations.
Early Registration
Opens May 1
Standard Registration
Opens August 1
Early Registration
Opens May 1
Standard Registration
Opens August 1
Early Registration
Opens May 1
Standard Registration
Opens August 1
The SCR Exam is scored on a pass/fail basis. Candidates who don’t pass their Exam can register at a reduced rate during the next two exam cycles.
Pass rates are subject to change based on the number of candidates. Since the start of the SCR, more than 16,000 candidates have sat for an Exam.
Everything you need to know about the SCR Exam
The SCR Exam comprises 90 multiple-choice questions, including case studies, that require both analytical thinking and practical application. Candidates are allotted four hours to complete their Exam.
The SCR Exam tests a broad range of topics, including climate change, sustainability, transition planning, and green finance to ensure a well-rounded mastery of the subject.
To help candidates prepare for their SCR Exam, GARP provides study materials, a full-length practice exam, and information on approved, third-party Exam preparation providers. Please visit our Study Materials page to learn more.
Approximately 100-150 hours of study is recommended to prepare for the Exam, with GARP providing extensive resources to support your journey including an official SCR Practice Exam.
After earning the Certificate, GARP encourages you to continue your climate risk journey with our Continuing Professional Development (CPD) program to further education and advancement in the field.
Candidates who do not pass the Exam, do not schedule the Exam, or schedule and do not sit can register for either of the next two available exam windows for a one-time reduced price of USD 350. Candidates who don’t register for either of these windows will need to pay all applicable fees.
If the curriculum changes before the candidate retakes the Exam, an updated version of the curriculum will be made available to the candidate free of charge (via eBook only).
Registered candidates can schedule their in-person computer-based test (CBT) Exam at a Pearson VUE test center most convenient to them. Candidates must schedule an Exam at least 48 hours prior to their desired Exam start time, and may only schedule their Exam for the exam window they’re registered for. Candidates who do not schedule their Exam by the deadline must re-register and pay the applicable fees.
For your exam registration to be considered complete, payment must be received by GARP by 11:59 pm EST on the closing date of each registration period.
Candidates can pay for their exam registration via:
• Credit Card: GARP accepts MasterCard, Visa, Amex, and Discover.
• ePay: GARP accepts Alipay.
• Wire: All wire payments will include a USD 50 processing fee added to your invoice. Please reference your GARP ID and Invoice Number when sending your payment. Full instructions can be found at the bottom of your invoice.
• ACH: All ACH payments will include a USD 50 processing fee added to your invoice. Please reference your GARP ID and Invoice Number when sending your payment. Full instructions can be found at the bottom of your invoice.
Note: All fees are subject to change.
Learn more about what to expect on Exam day, as well as what to do if you can’t make your Exam.
All deadlines are 11:59 pm Eastern Time.
To register successfully for the SCR Exam, candidates must:
Should a candidate decide not to schedule and take the Exam after completing the registration process and paying the registration fee, he/she will forfeit the registration fee unless a refund is requested within 48 hours.
As part of the registration process, candidates must agree to adhere to the Candidate Responsibility Statement and the GARP Code of Conduct.
Candidates have 48 hours after submitting their exam registration payment to request a refund. All refund requests must be received via email to [email protected].
SCR candidates may only defer an exam registration once to the next exam window.
A deferral to the next exam window must be submitted and paid by the below deferral deadlines:
There is an administrative processing fee of USD 150 to defer.
Candidates deferring into the next exam year will receive the new SCR eBook for free when it becomes available.
Registered candidates can schedule an in-person Computer-Based Testing (CBT) Exam at a Pearson VUE test center. Candidates must schedule their Exam at least 48 hours prior to their desired exam start time in either the April or October windows, based on the window they registered for. All Exams are reserved on a first-come, first-served basis.
Depending on availability, candidates may reschedule their Exam or change their exam site using the Pearson VUE scheduling website no later than 48 hours before the start of their scheduled Exam.
Candidates who fail to schedule their Exam and/or fail to appear at their exam appointment will forfeit their exam fee.
Candidates who don’t pass their Exam, register and don’t schedule their Exam, or schedule and don’t take their Exam can register to take their Exam for USD 350 once to the next two available exam administrations.
If the curriculum changes before the candidate’s new exam date, updated study materials will be provided in a digital format.
Candidates who arrive at the check in area after the start time specified on the Confirmation of Appointment email will not be allowed entry into the exam room and will be considered late. Candidates will not qualify for a refund or a deferral (paid or free) and will forfeit the exam fee(s).
To gain admission to the Exam, candidates must present a form of ID that meets ALL of the following requirements:
Below is a list of possible acceptable forms of identification:
The identification must be issued from the country in which you are testing. If you do not have an identification from the country in which you are testing, you must bring an international travel passport.
A digital ID of any kind will not be accepted.
The name associated with the registration must exactly match the name on the candidate’s identification on exam day. This includes an exact match of the first name, last name, and any middle name or initial.
There are NO exceptions to GARP’s Identification Policy. On exam day, a candidate who does not present an acceptable form of ID as listed above will not be allowed to sit for the Exam and will forfeit their exam fee.
PROHIBITED ITEMS ON EXAM DAY
Personal Items:
No personal items are allowed in the exam room or environment. This includes but is not limited to hand-held computers/personal digital assistants (PDAs), other electronic devices, pagers, watches, wallets, purses, firearms or other weapons, hats (and other nonreligious head coverings), bags, coats, jackets, eyeglass cases, pens, or pencils, food and drinks.
Personal accessories:
Candidates may not bring or wear barrettes or hair clips that are larger than 1/4 inch (1/2 centimeter) wide nor headbands or hairbands that are larger than 1/2 inch (1 centimeter) wide into the exam room. Jewelry that is removable and larger than 1/4 inch (1/2 centimeter) wide is not permitted in the exam room. Candidates may not bring any books and/or notes in the exam room unless authorized by GARP for use during the exam session.
Candidates must store all personal items, including mobile phones, in a secure area (a locker) as indicated by the proctor or return them to their vehicles. Refusing to store personal items will result in the candidate being unable to sit for the Exam, and the registration fee will be lost. All electronic devices must be turned off before storing them in a locker.
Once the candidate has entered the exam room, there must be no communication with other candidates. Any disruptive, threatening, or fraudulent behavior in the exam room may be grounds for terminating the Exam, invalidating exam results, or disqualifying the candidate from taking the Exam at a future date.
EXAM DAY SECURITY
Neither GARP, the exam site, exam personnel, nor vendors will assume responsibility or liability for any stolen, lost, or damaged private property left at the exam site.
To ensure the safety of candidates, proctors, and exam site staff, proctors and security personnel may inspect candidates' belongings for prohibited items before, during, or after the Exam on exam site premises.
CALCULATOR
For in-person CBT exams, candidates will be provided with a digital calculator on the screen (pictured below).

WHITEBOARD
Candidates will be provided with an erasable note board and pen to use. During the exam session, candidates may not use any other exam-specific materials or scratch paper.
Candidates may not leave the exam room without proctor approval. Candidates who need a restroom break should raise their hand and wait to be acknowledged by a proctor. No additional time will be given if a break is taken.
Candidates who finish the Exam early should raise their hand and wait to be acknowledged by a proctor. Candidates must then exit the building promptly and will not be allowed to return.
Any activity that compromises the integrity or validity of the Exam, including any activity or misconduct before, during, or after the administration of the Exam, is considered a violation of GARP's Exam Policies.
If a candidate's actions result in an Exam Policy violation, the candidate may be dismissed from the exam room and/or the exam session may be ended. A proctor will complete an Exam Policy Violation Report and send the report to GARP. GARP will conduct a thorough review of all violations.
It all happened because efforts and dedication of students
Deepak Goyal Sir's Best SCR lectures made even the most complex concepts easy to understand. His personalised mentorship helped me stay consistent. I cleared the exam in my first attempt while working full-time at SBI. The Best Mock Exams and Practice Sets at RBei Classes gave me the exact feel of the actual exam.
In short: digital banking is changing everything about how we save, spend, borrow, and manage money. Indeed, digital banking is reshaping payments, lending, customer experience, and financial inclusion — and, importantly, digital banking brings new risks alongside new conveniences. In this article we will explain how digital banking is transforming finance, why it matters, what concrete benefits it delivers, and what risks (cybersecurity, privacy, operational, regulatory and systemic) you must watch out for. Moreover, we’ll give practical guidance for students and early-career professionals who want to understand or work in the digital banking space. Above all, this long-form guide is actionable and evidence-based — and it repeats the phrase digital banking where it matters so search engines and readers both get the signal. How Digital Banking Is Transforming Finance (and What Risks Come With It) What we mean by “digital banking” — a short definition First, define terms. Put simply, digital banking means delivering banking services primarily through digital channels (mobile apps, web portals, APIs, digital wallets, and automated back-end systems) rather than in-branch, paper-based processes. Consequently, digital banking includes: Mobile and online account access, payments, and transfers; Digital-first banks (nonbanks) and fintech challengers; Embedded finance (banking services integrated into non-bank apps); Open banking and API-based data sharing; and Automation, AI-driven personalization, and cloud-native infrastructure. Hence, when we talk about how digital banking is transforming finance, we mean shifts in customer behaviour, business models, risk management and regulation driven by these technologies and platforms. Why digital banking matters — quick facts and evidence To understand the scale, consider these high-impact facts: Globally, account ownership and digitally enabled accounts have surged; around 79% of adults now have a formal account, and mobile/digital channels are a major driver of inclusion and usage growth. Digital banking adoption continues to climb rapidly in advanced and emerging markets alike; for example, in the U.S. and many other markets, the majority of adults now use digital banking regularly. The neobank and digital-bank market continue to expand fast: market reports show rapid valuation and market-size growth for neobanks in recent years. At the same time, cybersecurity and fraud risks are rising as digital adoption increases: global and national reports indicate growing cyber-enabled fraud, phishing, and domain-based attacks on banks and customers. Those facts tell a simple story: digital banking is already big, it’s getting bigger, and its growth changes both opportunities and exposures for banks, customers, and regulators. How digital banking is transforming finance — the key areas Below, we explore the most important ways digital banking is changing finance. For each area, we explain the transformation, give practical examples, and show why it matters. 1) Payments: speed, convenience, and the end of cash friction First, digital banking has accelerated the shift away from cash and toward instant, low-cost electronic payments. Mobile wallets, UPI-style rails (in some countries), real-time payments (RTGS/RT-N), and card tokenization make value transfer immediate and frictionless. As a result: Individuals pay and receive money instantly (peer-to-peer, payrolls, merchant payments). Businesses accept payments via embedded flows in apps and marketplaces. Cross-border payments are being reimagined through better UX, APIs, and specialized rails. Ultimately, this reduces friction and transaction costs, increases transaction velocity, and enables new business models such as gig payments, micropayments, and subscription services. 2) Lending and credit underwriting: data + automation = faster decisions Second, digital banking transforms lending by using alternative data, automated underwriting, and instant decision engines. Consequently: Lenders can evaluate credit risk using digital footprints, transaction history, and AI models rather than relying solely on traditional credit bureaus. Online and app-based lending platforms can deliver approvals in minutes for small loans, BNPL products, or merchant financing. Risk-based pricing and microcredit models become viable for previously underserved segments. Therefore, credit becomes more accessible — but it also raises questions about model fairness, explainability, and potential over-indebtedness. 3) Financial inclusion: reaching the unbanked and underbanked Third, digital banking reduces physical barriers to access. Mobile money and digitally enabled accounts have materially increased financial inclusion worldwide. Digital identity, simplified KYC, and agent networks help onboard customers who would otherwise face distance or cost barriers. Consequently, small businesses and low-income households gain access to savings, credit, and payments that were previously unavailable. The World Bank’s Global Findex highlights how digitally enabled accounts are transforming financial behaviour globally. 4) New players & business models: neobanks, fintechs, and embedded finance Fourth, the market structure is changing. Fintech startups and neobanks provide native mobile experiences, targeted products, and low overhead. Moreover, non-bank firms embed financial services directly inside apps (ride-hailing, payroll platforms, e-commerce). As a result: Product innovation accelerates (micro-savings, goal-based accounts, instant lending, subscription features). Competition intensifies, pressuring incumbents to digitally transform or partner with fintechs. New ecosystems form around platform businesses that integrate banking features natively. This trend has made the financial services landscape more dynamic — but it also complicates supervision, responsibility, and consumer protection. 5) Data, personalization & experience: AI-driven banking Fifth, banks now use data, AI, and machine learning to personalize offers, detect fraud, automate service, and boost efficiency. Chatbots, robo-advisors, spending insights, and predictive alerts improve customer experience and operational productivity. Yet, increased reliance on models introduces model risk, bias, and transparency concerns. 6) Cost structure & scale: cloud, automation, and cheaper distribution Sixth, digital distribution plus cloud infrastructure allows banks to scale without the same physical branch costs. As a consequence: Unit costs of customer acquisition and servicing can fall for digital native banks. Pricing competition intensifies, and incumbents must invest in modernization to remain competitive. Lower operational costs may enable new pricing models (freemium, subscription banking). However, migrating legacy systems to cloud-based architectures is complex and introduces its own operational risks. The concrete benefits — why finance is better (in many ways) Now, let’s list the tangible benefits digital banking delivers to customers, firms, and economies. Clearly, the upside is substantial — which is why banks, regulators, and governments are investing heavily in digitalization. The risks of digital banking — what to watch for Yet, for all
In today’s competitive job market, many students and early professionals ask: should I pursue a data analytics degree or go for a data analytics certification (or certificate)? This decision can significantly influence your time, cost, skill depth, job opportunities, and long-term career growth. In this blog, we’ll clearly compare data analytics degree vs certification / certificate, weigh their pros and cons, and help you decide which path best fits your goals. Whether you’re fresh out of high school, planning a career switch, or just looking to level up, this guide will be useful. Why this debate matters: keywords, demand, and clarity Before diving in, let me explain why this choice matters. The keywords data analytics degree and data analytics certification are important because many prospective learners search for them. Employers and hiring managers also often distinguish between candidates with formal degrees and those with certificate credentials. Moreover, the field of data analytics is growing fast: according to reports, demand for data professionals continues to rise as organizations rely more on data-driven decisions. Thus, knowing which educational path gives you the best return on investment is critical. Definitions & Distinctions: What exactly are a Data Analytics Degree and Certification? Before comparing pros and cons, let’s define what each term generally means, and clarify how they differ in structure, recognition, and purpose. What is a “Data Analytics Degree”? A data analytics degree typically refers to a formal academic program offered by a college or university. It might be a bachelor’s degree (e.g. “BSc in Data Analytics,” “Bachelor of Science in Analytics,” or related majors such as Statistics, Computer Science, or Business Analytics) or a master’s degree (e.g. “Master in Business Analytics,” “MS Data Analytics,” “MS in Analytics”). Key features: Comprehensive curriculum covering foundational mathematics, statistics, programming, data mining, machine learning, database systems, big data, data visualization, ethics, etc. Duration: Often 3 to 4 years for bachelor’s; 1 to 2 years for master’s (full time). General education / liberal arts requirements: You may have to take non-analytics courses (humanities, languages, electives) in many degree programs. Institutional accreditation & recognition: Degrees are accredited by universities, which often carry prestige. Depth, theory, research: Degree programs tend to emphasize theoretical foundations, research, and long-term intellectual depth. What is a “Data Analytics Certification / Certificate”? A data analytics certification (or certificate) is a shorter non-degree credential, often offered by professional bodies, online learning platforms, training institutes, or universities as continuing education. It is intended to validate one’s skills in specific tools, techniques, or domains of analytics. Key features: Focused curriculum: Often limited to core topics like data cleaning, SQL, Excel, data visualization, basic statistics, maybe Python or R. Shorter duration: Weeks to months (e.g. 3–9 months). Flexibility: Many are online, self-paced, or part-time. Lower cost: Generally cheaper than a full degree. Skill validation: The certificate often signals proficiency or completion of training, but not always deep theory or research. It’s also worth noting that in some contexts, “certificate program” refers to the academic certificate (offered by a university), whereas “certification” refers to a professional credential (requiring exams, ongoing recertification). But in this blog, I use “certification / certificate” broadly to cover non-degree credential programs in data analytics. Key Comparison Criteria To compare a data analytics degree vs a data analytics certification, we’ll examine along multiple critical dimensions: 1. Cost and affordability Data Analytics Degree (Pros & Cons) Pros You often gain powerful scholarship, financial aid, or government support in academic settings. Because you are enrolled full time, you may get institutional facilities (labs, software licenses, libraries) included in fees. Cons Tuition for a 3–4-year bachelor’s or 1–2-year master’s is high, especially in private or foreign universities. Hidden costs: textbooks, software, travel, campus housing, opportunity cost of not working full time. You may graduate with debt. Data Analytics Certification (Pros & Cons) Pros Generally far cheaper than a full degree. You pay only for the specific certificate program (tuition, subscription, exam fees), often in installments. Lower risk: if a certificate program doesn’t suit you, the financial loss is smaller. Cons Some certificate programs are overpriced relative to their value (especially less reputable ones) You might not qualify for financial aid, scholarships, or subsidies the way degrees do. Verdict on Cost If budget is the key constraint, a data analytics certification is usually a less risky and more accessible starting path. That said, if you can secure low-cost (or subsidized) degree options, paying for a full degree could be more worthwhile over the long term. 2. Time to completion Data Analytics Degree (Pros & Cons) Pros Once committed, you have a structured timeline (e.g. 3 years or 4 years) to complete your learning. You may have summer internships, research semesters, etc., integrated. Cons It’s a long-term commitment. You may not be able to pivot or adjust quickly to new industry trends. If you drop out, partial credits may not be fully transferable. Data Analytics Certification (Pros & Cons) Pros Much faster: many programs finish in a few months or under a year You can begin learning and applying skills quickly. Switching among certificate tracks is easier. Cons Shorter time means less chance for deep mastery or breadth. If you try to cram too much in a short time, you may lose on learning quality. Verdict on Time If you want to get working quickly or test the field, a data analytics certification gives you speed. But if you want deep foundations and stability, a data analytics degree is worth the longer timeline. 3. Depth and breadth of knowledge Data Analytics Degree (Pros & Cons) Pros Provides strong foundation: mathematics, statistics, algorithmic thinking, theory, ethics, optimization. You are exposed to a variety of topics: discrete math, data structures, operating systems, distributed computing, advanced electives. You understand why methods work, not just how. Long-form projects, research opportunities, peer collaboration. Cons A lot of coursework may not be directly relevant to real-life analytics (general education, unrelated electives). Some courses may lag in updating to the latest tools or industry practices. Data
Moreover, U.S. financial firms hesitant to use AI for surveillance face a knot of regulatory, technical, and cultural challenges that slow adoption. Furthermore, AI surveillance in finance promises efficiency gains, and yet many institutions remain cautious because of explainability gaps, legal exposure, vendor concentration risks, and privacy worries. In addition, financial firms AI hesitancy is as much about avoiding catastrophic mistakes as it is about seizing opportunity, and therefore this article unpacks why that hesitation exists — and how students and future practitioners should think about it. Executive summary (so you know what to expect) First, this blog explains what AI surveillance means in a financial context. Second, it lists the concrete benefits that make AI tempting. Third, it analyzes the many reasons U.S. financial firms hesitant to use AI for surveillance — including regulatory ambiguity, model explainability, data privacy, operational risk, vendor concentration, and potential for bias. Fourth, it examines real-world signals from regulators and industry bodies about governance expectations. Finally, it offers practical steps and study pointers for students and junior professionals who want to work responsibly at the intersection of AI, compliance, and finance. Across the article, the phrase AI surveillance in finance appears repeatedly because it is a central topic, while financial firms AI hesitancy will be referenced when we discuss human and organizational factors. What do we mean by “AI surveillance in finance”? Firstly, AI surveillance in finance broadly refers to the use of artificial intelligence — including machine learning, natural language processing, and generative models — to monitor transactions, communications, trading patterns, customer behavior, and other signals for compliance, fraud detection, insider trading, market abuse surveillance, anti-money laundering (AML), and operational risk detection. Secondly, surveillance applications range from anomaly detection on trading desks to automated review of employee chats and voice recordings. Thirdly, while such systems can detect patterns humans miss, they often operate as complex, opaque “black boxes,” which is a major reason U.S. financial firms hesitant to use AI for surveillance are slow to deploy them. Importantly, these systems are used for high-stakes decisions: freezing accounts, escalating to enforcement, flagging a trader for investigation, or producing evidence that regulators may review. Consequently, the technical strengths of AI come with governance burdens that many institutions find hard to accept without strong guardrails. Why firms are attracted to AI surveillance (briefly) Moreover, before we dig into the reasons for hesitation, here’s why firms consider AI surveillance at all: Efficiency gains: AI can process huge volumes of data — trade records, chat logs, emails, voice transcripts — far faster than humans, reducing manual triage time. Improved detection: Machine learning models can surface subtle or complex patterns that fixed-rule systems miss. Cost scaling: Once developed and validated, automated surveillance scales more cheaply than manual review teams. Continuous monitoring: AI enables near-real-time detection across many channels simultaneously. Risk prioritization: AI models can help prioritize investigations by predicted risk, helping compliance teams focus scarce human resources. Nevertheless, the decision to deploy AI is not solely technical; it’s deeply regulatory, legal, and reputational. Key reasons U.S. financial firms are hesitant to use AI for surveillance However, the adoption of AI for monitoring and surveillance in the U.S. financial sector has been cautious. Below are the core reasons why U.S. financial firms hesitant to use AI for surveillance — explained in detail. 1. Regulatory uncertainty and supervisory risk Firstly, regulators in the U.S. have signaled both interest in and wariness of AI. Secondly, firms fear that adoption without crystal-clear supervisory expectations will expose them to exam findings, enforcement actions, or litigation. For example, FINRA and other agencies have made clear that existing rules (on supervision, recordkeeping, and compliance) apply to AI the same way they apply to other tools, but guidance continues to evolve and firms worry about shifting expectations. Moreover, the U.S. Treasury and other policy bodies have solicited input on AI risks in financial services, emphasizing consumer protection, data quality, and systemic stability — signals that regulators may escalate scrutiny. Consequently, firms worry they could be penalized for deploying imperfect AI or for failing to properly supervise third-party models. Therefore, regulatory uncertainty remains a heavyweight factor in financial firms AI hesitancy: firms would rather move slowly and compliantly than adopt a new technology that could invite fines or reputational damage. 2. Explainability, model risk, and auditability First, AI models — particularly large neural networks and ensemble models — often produce outputs that are not easily explainable in human terms. Second, when surveillance outcomes lead to consequences (e.g., escalation for enforcement), institutions must explain why a particular alert was raised. If they cannot, they risk noncompliance, unfair actions, or legal challenges. Furthermore, model risk management frameworks in banks and broker-dealers were built for statistical models with well-understood behavior. However, contemporary AI models may be ill-suited to existing validation techniques; as a result, governance teams hesitate to give these models direct decision-making authority. Explainability challenges have been widely flagged in industry discussion and model governance circles. 3. False positives, alert fatigue, and human trust Moreover, when an AI surveillance system produces many false positives, compliance teams become overwhelmed, which undermines trust in the tool. Consequently, firms prefer high-precision systems even if they miss some edge cases. In practice, existing machine-rule systems are tuned conservatively; replacing them with a new AI system risks immediate operational pain and backlogs, discouraging rapid deployment. 4. Data quality, privacy, and legal limitations First, AI depends on high-quality labeled data. Second, data in financial firms is often siloed across legacy systems, subject to privacy laws, and restricted by contractual terms (including third-party vendor data). Third, training AI models on sensitive communications or personal data raises privacy and regulatory questions — especially when models may infer sensitive attributes. In addition, the legal basis for processing certain datasets (e.g., biometric voice data) for surveillance can be unclear and varies across jurisdictions. Therefore, data governance and privacy concerns contribute heavily to U.S. financial firms hesitant to use AI for surveillance. 5. Vendor risk and concentration Moreover, many firms
Preparing for the FRM exam can be a challenging journey, but with the right FRM preparation strategy, candidates can confidently clear both Part 1 and Part 2. In this blog, we will discuss a detailed roadmap for FRM preparation that not only helps you understand the exam structure but also enables you to achieve success efficiently. Many aspirants often struggle with time management, understanding complex financial concepts, and choosing the right study resources. However, by adopting an effective FRM preparation strategy, these obstacles can be minimized, allowing you to clear both parts with confidence. This strategy will cover study schedules, resource selection, practice approaches, and mental preparation tips that ensure a comprehensive and structured approach. Understanding the FRM Exam: Foundation for Your Preparation Strategy Before diving into a detailed FRM preparation strategy, it is crucial to understand the structure of the FRM exam. The FRM (Financial Risk Manager) exam is conducted by GARP (Global Association of Risk Professionals) and consists of two parts: FRM Part 1 focuses on the fundamental tools used in risk management, including quantitative analysis, foundations of risk management, financial markets and products, and valuation and risk models. FRM Part 2 builds on these concepts and emphasizes market risk, credit risk, operational risk, investment management, and risk management in financial institutions. Understanding this distinction is vital for creating a tailored FRM preparation strategy. While Part 1 requires strong analytical skills and conceptual clarity, Part 2 demands the application of knowledge to practical risk management scenarios. Hence, your preparation strategy must adapt accordingly to these differences. Creating a Study Plan: The Core of FRM Preparation Strategy A well-structured study plan is the backbone of any successful FRM preparation strategy. It ensures that you allocate sufficient time for each topic while balancing practice, revision, and mock exams. Here’s how you can design an effective study plan: 1. Set Clear Goals Begin your FRM preparation by setting realistic and achievable goals. Define your target completion timeline for Part 1 and Part 2. For instance, if you aim to clear FRM Part 1 in three months, break your preparation into weekly modules covering different topics. 2. Allocate Time Wisely Efficient time management is critical. Divide your daily study hours between understanding concepts and practicing questions. For example, spend 60% of your time learning concepts and 40% on solving practice problems. This approach ensures a strong conceptual foundation while enhancing problem-solving skills. 3. Use a Topic-Wise Approach A topic-wise approach ensures that no area is left uncovered. Start with fundamental topics such as quantitative analysis and risk management basics, and gradually move to complex topics like market and credit risk. Following a structured approach is a key element of a robust FRM preparation strategy. 4. Build Flexibility into Your Plan Unexpected events may disrupt your schedule, so make your study plan flexible. Include buffer periods to revise challenging topics or take additional mock tests. Flexibility ensures consistency and reduces stress. Choosing the Right Study Material: A Pillar of FRM Preparation Strategy The choice of study resources significantly impacts your FRM preparation. Using outdated or incomplete materials can waste precious time. Here are some tips: 1. Select GARP-Recommended Books GARP provides official study materials for both parts. These books are the most reliable source for the latest syllabus, exam patterns, and question formats. Relying on GARP materials ensures that your FRM preparation strategy is aligned with exam requirements. 2. Supplement with Reference Books While GARP books are essential, supplementing them with reference books such as “FRM Exam Part I & II” by Wiley or Schweser can enhance understanding. These books provide concise summaries, practice questions, and exam tips, making your preparation more effective. 3. Online Resources and Video Lectures In today’s digital age, online courses, video lectures, and webinars are invaluable. They help explain complex topics like Value at Risk (VaR), derivatives, and credit risk modeling in an easier-to-understand format. Mastering FRM Part 1: Strategic Tips FRM Part 1 tests your understanding of risk management fundamentals. A strategic approach can significantly boost your chances of passing in the first attempt. 1. Focus on Quantitative Skills Quantitative analysis is a major component of Part 1. Strengthen your knowledge of statistics, probability, and financial mathematics. Practice numerical problems regularly to enhance speed and accuracy. 2. Understand Risk Management Concepts Conceptual clarity is crucial. Understand risk types, risk measurement techniques, and regulatory frameworks. Rather than rote learning, focus on applying concepts to real-world scenarios. 3. Practice Questions Extensively Solve as many practice questions as possible. This helps familiarize yourself with the exam format, identifies weak areas, and improves time management. Mock tests are particularly useful in assessing preparedness. 4. Review Regularly Regular revision ensures retention. Use a combination of flashcards, notes, and summaries to revise key formulas, definitions, and concepts frequently. Mastering FRM Part 2: Advanced Strategies FRM Part 2 requires deeper analytical skills and practical application. A specialized strategy is necessary to excel in this part. 1. Prioritize High-Weight Topics Market risk, credit risk, operational risk, and investment management carry significant weight. Prioritize these areas in your preparation plan while ensuring that no topic is ignored. 2. Apply Concepts Practically Part 2 emphasizes application. Practice case studies and scenario-based questions to develop analytical thinking. Understanding how concepts are applied in real financial institutions is key. 3. Practice Mock Exams Simulating exam conditions through mock tests is essential. It helps in time management, stress handling, and identifying areas needing improvement. Analyze your performance and adjust your preparation accordingly. 4. Continuous Revision Since Part 2 builds on Part 1, continuous revision of Part 1 concepts is important. Regularly revisiting foundational topics ensures a strong knowledge base for tackling complex questions. Common Mistakes to Avoid in FRM Preparation Even with a solid strategy, candidates often make mistakes that hinder performance. Avoid these pitfalls: Ignoring Mock Tests: Practicing without mock exams can leave you unprepared for real exam conditions. Skipping Revision: Without regular revision, retention of formulas and concepts suffers. Overloading Resources: Using too many books can confuse
Clearing the FRM exam requires a combination of the right study material, an effective strategy, and excellent time management. For aspirants aiming to pass both FRM Part 1 and Part 2, understanding what resources to use, how to structure study sessions, and how to manage time during preparation is critical. In this blog, we will explore detailed FRM exam success tips, including the best study material, preparation strategies, and time management techniques that can maximize your chances of success. Whether you are a working professional or a student, these insights will help you approach the FRM exam with confidence and clarity. Understanding the FRM Exam Structure Before diving into study material and strategies, it is essential to understand the FRM exam’s format. The Financial Risk Manager (FRM) certification, conducted by GARP (Global Association of Risk Professionals), is divided into Part 1 and Part 2. FRM Part 1 focuses on the fundamentals of risk management, quantitative analysis, financial markets and products, and valuation and risk models. FRM Part 2 delves deeper into market risk, credit risk, operational risk, liquidity risk, and investment management. Understanding the exam structure helps you allocate time efficiently and choose the right resources for each section. Both parts are highly competitive, requiring systematic preparation and consistent practice. Choosing the Right FRM Study Material Selecting high-quality study material is one of the most critical steps in FRM exam success. The right resources can significantly improve your understanding and reduce preparation time. Official GARP Materials The GARP official books and reading material are a must for every FRM aspirant. These materials cover every topic in the syllabus and are considered the most authentic source. While they are comprehensive, many students find them lengthy, so complementing them with condensed notes can be beneficial. FRM Coaching and Online Resources Many aspirants choose FRM coaching classes, such as RBei Classes or similar reputed institutes, to receive expert guidance. Coaching provides structured study plans, doubt clearing sessions, and mock exams, which are invaluable for exam readiness. Additionally, online resources like videos, PDFs, and practice quizzes can reinforce learning. Practice Questions and Mock Exams Practicing mock exams and previous years’ questions is vital. These help in understanding the exam pattern, question style, and time allocation. Regular practice improves speed, accuracy, and confidence, especially for Part 2, which is conceptually challenging. Effective FRM Exam Preparation Strategy A well-thought-out study strategy can make a huge difference in FRM exam success. Random or inconsistent study approaches often lead to confusion and last-minute stress. Start Early and Set a Timeline Starting preparation 3–6 months before the exam is ideal. Divide your time into three phases: Conceptual Learning (40–50%): Understand the fundamental concepts using study material and coaching classes. Practice Phase (30–40%): Solve practice questions, attempt quizzes, and clarify doubts. Revision & Mock Exams (20–30%): Take multiple full-length mock exams and revise weak areas. This phased approach ensures thorough coverage without overwhelming yourself. Focus on High-Weightage Topics Not all topics carry the same weight in the FRM exam. Identify high-weightage areas and focus on them first. For Part 1, Quantitative Analysis and Financial Markets carry significant marks. For Part 2, Market Risk and Credit Risk are crucial. Prioritizing these topics ensures maximum score potential. Use Multiple Study Techniques Different study techniques cater to different learning styles. Combine the following: Active Reading: Highlight key points while reading GARP materials. Mind Maps: Visualize complex concepts for better retention. Flashcards: Effective for formulas, definitions, and ratios. Group Study: Discussing with peers clarifies doubts and strengthens understanding. Time Management Tips for FRM Exam Success Even with the best study material and strategy, poor time management can jeopardize FRM exam success. Time management applies both during preparation and in the exam hall. Weekly and Daily Study Plan A structured weekly and daily plan prevents burnout. For example: Weekdays: 2–3 hours of study focusing on core concepts. Weekends: 4–5 hours dedicated to practice questions and revision. Ensure a balance between learning new topics and revising previously covered material. Mock Exam Timed Practice Simulate real exam conditions while attempting mock exams. Set a timer, avoid distractions, and practice finishing within the allocated 4-hour window. This not only improves speed but also builds exam temperament. Avoid Last-Minute Cramming Cramming the night before the exam can be counterproductive. Instead, revise formulas, definitions, and key concepts. Relaxation and sleep before the exam improve focus and memory recall. FRM Exam Day Tips Exam day performance is equally important as preparation. Follow these tips for success: Common Mistakes to Avoid in FRM Preparation Being aware of common mistakes helps aspirants avoid pitfalls: Leveraging Coaching and Peer Support Joining a reputable FRM coaching institute provides several advantages: Maintaining Motivation and Consistency Consistency is key for FRM exam success. Here’s how to stay motivated: Conclusion: FRM Exam Success Tips Summarized In conclusion, clearing the FRM exam requires more than just hard work—it demands the right study material, a strategic plan, and effective time management. By using GARP official materials, supplementing with coaching classes, focusing on high-weightage topics, and practicing mock exams, you can optimize your preparation. Coupled with consistent effort, structured study schedules, and exam-day discipline, these FRM exam success tips will guide you toward achieving certification. Remember, the journey is challenging but entirely achievable with the right approach and mindset.
In today’s rapidly evolving financial landscape, CFA charter holders have emerged as pivotal figures in shaping investment strategies, guiding corporate financial decisions, and upholding the highest standards of ethical conduct. The Chartered Financial Analyst (CFA) designation, awarded by the CFA Institute, is globally recognized as a benchmark for excellence in investment management and financial analysis. As the demand for skilled financial professionals intensifies, the role of CFA charter holders becomes increasingly critical in driving sustainable economic growth and fostering investor confidence. Understanding the CFA Charter: A Gateway to Financial Expertise The CFA charter is a professional credential that signifies a deep understanding of investment principles, financial analysis, and ethical standards. To earn this designation, candidates must pass three rigorous levels of examinations covering topics such as economics, financial reporting, corporate finance, equity investments, fixed income, derivatives, alternative investments, portfolio management, and wealth planning. Additionally, candidates are required to have at least four years of professional work experience in investment decision-making. This comprehensive curriculum ensures that CFA charter holders possess a robust skill set, enabling them to navigate complex financial markets, assess investment opportunities, and provide sound financial advice. The emphasis on ethics and professional standards further distinguishes CFA charter holders, fostering trust and credibility in their professional endeavors. The Growing Demand for CFA Charter holders in Global Finance As financial markets become more interconnected and complex, the need for qualified professionals who can analyze data, assess risks, and make informed investment decisions has surged. CFA charter holders are increasingly sought after in various sectors, including asset management, investment banking, corporate finance, and financial consulting. Their expertise is particularly valued in emerging markets, where the demand for sophisticated financial analysis and investment strategies is on the rise. According to the CFA Institute, over 190,000 professionals worldwide hold the CFA charter, with the number growing annually. This expanding community reflects the increasing recognition of the CFA designation as a mark of excellence in the financial industry. Key Roles and Responsibilities of CFA Charter holders CFA charter holders assume a variety of roles across the financial sector, each contributing to the efficient functioning of financial markets and the creation of value for investors. Some of the key positions include: 1. Portfolio Manager Portfolio managers are responsible for making investment decisions and managing a portfolio of assets to achieve the client’s financial objectives. They utilize their expertise in asset allocation, risk management, and performance evaluation to optimize returns. 2. Research Analyst Research analysts conduct in-depth analyses of financial instruments, industries, and economic trends to provide investment recommendations. Their insights assist portfolio managers and investors in making informed decisions. 3. Risk Manager Risk managers identify, assess, and mitigate financial risks that could impact an organization’s objectives. They develop strategies to manage credit, market, operational, and liquidity risks, ensuring the organization’s stability and compliance with regulatory requirements. 4. Corporate Finance Advisor Corporate finance advisors assist companies in making strategic financial decisions, such as mergers and acquisitions, capital raising, and financial restructuring. They provide insights into valuation, capital structure, and financial modeling to support business growth and value creation. 5. Financial Consultant Financial consultants offer personalized financial advice to individuals and institutions, helping them plan for retirement, manage wealth, and achieve financial goals. They leverage their knowledge of financial planning, taxation, and estate planning to provide comprehensive solutions. The Value Proposition: Why Employers Prefer CFA Charter holders Employers across the financial industry recognize the value that CFA charter holders bring to their organizations. The rigorous training and ethical standards associated with the CFA program equip professionals with the skills necessary to navigate complex financial landscapes and make sound investment decisions. A survey by the CFA Institute revealed that 90% of hiring managers prefer candidates with the CFA designation for executive positions, underscoring the credential’s prestige and relevance in the industry. Furthermore, CFA charter holders often command higher salaries compared to their non-certified counterparts. The average total compensation for CFA charter holders is significantly above the industry average, reflecting the premium placed on their expertise. The CFA Charter in Emerging Markets: A Strategic Advantage In emerging markets, where financial systems are developing and investment opportunities are expanding, the CFA charter serves as a strategic advantage for professionals seeking to advance their careers. The comprehensive training provided by the CFA program enables individuals to understand and navigate the unique challenges and opportunities present in these markets. For instance, in India, the number of CFA candidates has doubled since 2014, indicating a growing recognition of the program’s value. Indian graduates continue to trust human financial advisors over artificial intelligence, with 91% expressing confidence in human advisors’ ability to provide reliable financial guidance. The Future of the CFA Charter: Adapting to Industry Trends As the financial industry evolves, so too does the CFA program. The CFA Institute has introduced new modules focusing on data science, artificial intelligence, and environmental, social, and governance (ESG) factors to ensure that the curriculum remains relevant and aligned with industry trends. These updates reflect the CFA Institute’s commitment to providing professionals with the tools and knowledge necessary to succeed in an increasingly complex and technology-driven financial environment. Conclusion The growing importance of CFA charter holders in global finance underscores the value of rigorous education, ethical standards, and continuous professional development. As financial markets continue to evolve, the expertise of CFA charter holders will remain essential in driving informed investment decisions, fostering economic growth, and maintaining the integrity of the financial industry.
Why Gold Prices Keep Rising is the question on every investor’s, student’s, and market-watcher’s mind today, and for good reason: gold has surged to new records, attracting headline-making forecasts and intense investor interest. Consequently, many want a clear, student-friendly explanation of the forces pushing prices higher. Therefore, in this deep-dive we explain why gold prices keep rising, step-by-step, with real-world data, charts of causes, and practical takeaways so you can understand the mechanics — and not just the headlines. Quick preview — the short answer (TL;DR) Why gold prices keep rising: because a mix of monetary factors (lower expected real interest rates and rate-cut bets), heavy institutional demand (central banks and ETFs), a weaker U.S. dollar, strong physical demand pockets (India & China), and geopolitical/market uncertainty have all combined to push prices upward. Key near-term drivers: expectations of U.S. rate cuts and central bank buying. What students should remember: gold is a non-yielding real asset whose attractiveness rises when real yields fall, currency risk increases, or safe-haven demand spikes. Why Gold Prices Keep Rising — A Complete Market Breakdown Why Gold Prices Keep Rising: The Big Picture (Macro + Market) First, consider the big picture: gold is priced in U.S. dollars and competes with cash, bonds, and other assets for investor attention. Therefore, three macro threads usually explain extended gold rallies: Monetary policy expectations — when central banks move toward easing or when real interest rates fall, gold becomes more attractive. Institutional demand — sustained central bank purchases and record ETF inflows create structural upward pressure. Safe-haven and physical demand — geopolitical risk, trade tensions, and seasonal demand (e.g., India weddings/festivals) increase physical buying. Thus, the present rally isn’t usually a single-factor story; instead, multiple forces have converged to support rising prices. Why Gold Prices Keep Rising: Monetary Policy & Real Rates 1. Expected rate cuts vs. real yields Mechanics: gold pays no interest, so its opportunity cost equals the real yield on government bonds (nominal yield minus inflation). Therefore, if inflation remains elevated but nominal yields fall or are expected to fall, real yields decline, and gold becomes relatively more attractive. Recent context: markets have been pricing in U.S. Federal Reserve rate cuts, which reduces expected interest income on cash/bonds and supports gold. Reuters reports that gold surged on bets of U.S. Fed rate cuts, helping push prices to record highs. 2. Inflation uncertainty Why it matters: high or uncertain inflation increases the appeal of real assets and inflation hedges — among them, gold. Investors use gold as a long-term store of value when the purchasing power of paper money is questioned. Net effect: if inflation expectations remain sticky but policy appears to ease, gold typically rallies. Why Gold Prices Keep Rising: U.S. Dollar Moves Because gold is dollar-priced, the U.S. dollar’s strength or weakness has a direct effect: Dollar down → gold up: a weaker USD makes gold cheaper for foreign buyers, increasing global demand and supporting prices. Recent situation: a softening dollar (driven partly by Fed-cut expectations) has been one of the catalysts for increased gold buying this year. Analysts and coverage have repeatedly tied the 2025 rally to a weakening USD. Why Gold Prices Keep Rising: Central Bank Buying (Structural Demand) 1. Central banks are net buyers What’s happening: central banks — notably emerging-market & some European central banks — have been adding to gold reserves in recent years to diversify foreign reserves away from dollar assets. Evidence: World Gold Council and related reporting show a rebound and continued central bank purchases in 2024–2025, with monthly and quarterly additions that are meaningful in aggregate. 2. Why central banks buy gold Diversification: gold lowers portfolio correlation with USD-denominated assets. Risk management: political/geopolitical concerns and desire to hedge currency concentration. Outcome: when sovereign buyers accumulate, they can create a multi-year structural bid under prices — not just short-term flows. Why Gold Prices Keep Rising: ETF & Institutional Investment Flows 1. ETFs as leverage on sentiment How ETFs matter: physically-backed gold ETFs and exchange-traded products allow institutions and retail investors to gain gold exposure without holding physical bullion. Therefore, large inflows to ETFs translate into substantial physical purchases. Recent data: reports show record ETF inflows in Q3 2025, including the largest monthly inflow in September and the strongest quarter on record for gold ETFs, generating huge demand into physical gold holdings. 2. Why flows accelerate Momentum & fear: rising prices attract momentum buying and fear-driven hedging (portfolio insurance). Low alternatives: when returns elsewhere look uncertain, allocation to gold via ETFs becomes more attractive. Why Gold Prices Keep Rising: Physical Demand — India & China 1. India — cultural and investment demand Why India matters: India is one of the world’s largest gold markets; weddings and festivals usually drive large jewelry purchases annually. Although record prices sometimes temper volume demand, investment demand (bars & coins) can surge when buyers expect further price rises. Recent note: festive seasons can boost demand, and reports in 2025 show both investment led buying and mixed jewelry demand due to high prices. 2. China — industrial, jewelry, and investment demand China’s role: China is another major buyer (jewelry + investment). Economic and policy shifts there influence physical demand cycles and, therefore, net demand. Why Gold Prices Keep Rising: Supply Side Constraints 1. Mining production & supply lag Long lead times: new mine capacity takes years and substantial capital investment. Consequently, supply cannot quickly respond to price spikes. Mine output: while miners may increase output when prices rise, immediate shocks are primarily absorbed by inventories and secondary supply (recycling), not by quick production jumps. 2. Recycling & secondary flows Recycling helps, but slowly: when prices are high, recycling increases, but it is not always enough to offset demand surges quickly. Why Gold Prices Keep Rising: Geopolitical & Risk Events 1. Safe-haven flows How it works: in times of geopolitical conflict, trade wars, or macro shocks, investors often allocate to hard assets like gold to preserve capital. Current drivers: trade tensions and geopolitical headlines in 2025
Embarking on the journey to become a Financial Risk Manager (FRM) is both challenging and rewarding. The FRM certification, offered by the Global Association of Risk Professionals (GARP), is recognized globally and signifies a high level of expertise in financial risk management. To navigate this path successfully, a well-structured study plan, effective preparation strategies, and the right resources are essential. Understanding the FRM Exam Structure The FRM examination is divided into two parts, each focusing on different aspects of financial risk management: Crafting an Effective FRM Study Plan 1. Start Early and Plan Ahead Begin your preparation at least 4–6 months before the exam date. This allows ample time to cover all topics thoroughly and to review and practice before the exam. A study plan of 275 to 350 hours is recommended for Part I. 2. Break Down the Curriculum Divide the curriculum into manageable sections based on the exam weightings. Focus on high-weight topics like Financial Markets and Products for Part I and Market Risk Measurement for Part II. This targeted approach ensures efficient use of study time. 3. Allocate Time Wisely Dedicate specific hours each week to study. For example, 1.5–2 hours on weekdays and 3–4 hours on weekends. Consistency is key to retaining information and building momentum. 4. Incorporate Practice Questions Regularly solve practice questions to reinforce learning and identify areas needing improvement. Utilize question banks and mock exams to simulate actual exam conditions 5. Review and Revise Allocate the last month before the exam for intensive revision. Focus on weak areas and take full-length mock exams to build confidence and improve time management. Recommended Resources for FRM Preparation Official GARP Materials GARP provides the official FRM curriculum, which is comprehensive and aligned with the exam syllabus. Additionally, GARP offers complimentary practice exams for both Part I and Part II candidates Third-Party Study Providers Kaplan Schweser: Offers study notes, question banks, and mock exams tailored for FRM candidates. AnalystPrep: Provides video lessons, study notes, and practice questions with performance tracking tools Fintelligents: Features a structured study planner and topic-wise sequence for efficient preparation Online Platforms and Forums Reddit (r/FRM): A community where candidates share experiences, strategies, and resources. Bionic Turtle: Offers detailed study materials and practice questions with explanations Study Plan Templates FRM Part I Study Plan Week Topics Covered Hours 1–2 Foundations of Risk Management 20 3–4 Quantitative Analysis 20 5–6 Financial Markets and Products 30 7–8 Valuation and Risk Models 30 9–10 Review and Practice 30 11 Mock Exams and Final Revision 20 FRM Part II Study Plan Week Topics Covered Hours 1–2 Market Risk Measurement and Management 20 3–4 Credit Risk Measurement and Management 20 5–6 Operational Risk and Resilience 20 7–8 Liquidity and Treasury Risk Management 15 9–10 Asset Management and Hedge Funds 15 11 Current Issues in Financial Markets 10 12 Review and Practice 30 Conclusion Achieving success in the FRM exams requires a strategic approach, dedication, and the right resources. By following a structured study plan, utilizing quality study materials, and practicing consistently, you can enhance your chances of passing the FRM exams and advancing your career in financial risk management.
If you are wondering what does a financial analyst do, you are not alone. The role of a financial analyst is one of the most crucial in the finance and business sectors. Whether you are a student exploring career options, a fresh graduate looking for your first finance job, or someone aiming to switch careers, understanding the responsibilities, skills, and career scope of a financial analyst is essential. In this guide, we will comprehensively cover what a financial analyst does, their roles, responsibilities, required skills, career progression, and much more. Moreover, by the end of this blog, you will gain complete clarity about how to build a successful career in financial analysis. Who is a Financial Analyst? A financial analyst is a professional who evaluates financial data, prepares reports, and makes recommendations to help businesses, investors, and organizations make informed financial decisions. In simple terms, a financial analyst analyzes money matters to ensure that companies can optimize investments, minimize risks, and maximize profits. Financial analysts are indispensable in sectors like banking, investment, corporate finance, stock markets, and asset management. They act as the bridge between raw financial data and strategic decision-making. Key Point: Why Financial Analysts are Important Financial analysts play a critical role in helping businesses understand trends, forecast future performance, and make investment decisions. Without their insights, organizations could face risks due to poor financial decisions, missed investment opportunities, or inefficient allocation of resources. In essence, knowing what does a financial analyst do is vital for students and professionals aiming for a career in finance, as it helps in identifying the right skills, qualifications, and growth opportunities. Roles and Responsibilities of a Financial Analyst Understanding the roles and responsibilities of a financial analyst is the first step toward building a successful career in this field. Their duties vary depending on the organization, sector, and specific role, but the core responsibilities typically include: 1. Financial Data Analysis Financial analysts examine financial statements, balance sheets, profit and loss accounts, and cash flow statements. Their goal is to identify patterns, trends, and anomalies that could impact business performance. 2. Preparing Financial Reports They prepare detailed financial reports and presentations that summarize findings, predictions, and recommendations. These reports are used by managers, investors, and executives for strategic decision-making. 3. Forecasting and Budgeting One of the most important tasks is financial forecasting. Financial analysts predict revenue, expenses, and investment returns, helping companies plan budgets efficiently. This ensures that resources are allocated optimally. 4. Investment Analysis Financial analysts evaluate potential investment opportunities, assess risks, and determine the expected return on investment (ROI). This is especially critical in banking, portfolio management, and investment firms. 5. Risk Management By analyzing market trends, economic conditions, and financial reports, financial analysts help organizations identify financial risks and develop strategies to mitigate them. 6. Supporting Strategic Decisions A financial analyst provides actionable insights that support long-term business decisions, including mergers, acquisitions, expansions, and cost-cutting strategies. 7. Monitoring Market Trends Financial analysts continuously monitor the economy, market trends, and competitor performance. This enables companies to adapt their strategies proactively rather than reactively. Types of Financial Analysts Financial analysts are not a one-size-fits-all role. Depending on your interests and skills, you can specialize in different types of financial analysis. Here are the main types: 1. Investment Analyst Investment analysts focus on evaluating stocks, bonds, and other securities to provide investment recommendations for clients or organizations. 2. Credit Analyst Credit analysts assess the creditworthiness of individuals or organizations to determine loan eligibility and minimize financial risk. 3. Budget Analyst Budget analysts work with organizations to develop, review, and manage budgets, ensuring financial efficiency and compliance. 4. Risk Analyst Risk analysts focus on identifying financial risks and implementing strategies to mitigate potential losses in investment or business operations. 5. Corporate Financial Analyst Corporate financial analysts work internally within companies, helping senior management with strategic planning, financial modeling, and internal financial reporting. 6. Quantitative Analyst (Quant) Quants use mathematical and statistical models to analyze financial data and develop complex trading strategies, often in investment banks or hedge funds. Skills Required to Become a Financial Analyst If you are aiming to understand what does a financial analyst do, it’s equally important to know the essential skills required for this career. 1. Analytical Skills Analytical skills are the backbone of a financial analyst’s role. You must be able to interpret data, identify trends, and make logical conclusions. 2. Attention to Detail Even a small error in financial analysis can lead to incorrect recommendations. Precision and accuracy are crucial in this profession. 3. Technical Skills Financial analysts often use software like Excel, SQL, Python, R, and financial modeling tools. Knowledge of financial databases like Bloomberg or Thomson Reuters is highly valuable. 4. Communication Skills It’s not enough to analyze data. Financial analysts must effectively communicate findings to non-finance stakeholders through reports, charts, and presentations. 5. Problem-Solving Ability Financial analysts must identify problems, develop solutions, and provide actionable insights for decision-making. 6. Knowledge of Finance and Economics A strong understanding of accounting principles, corporate finance, investment analysis, and macroeconomic trends is essential. 7. Critical Thinking Financial analysts must challenge assumptions, anticipate risks, and think strategically to provide high-quality advice Educational Qualification and Career Path Knowing the educational requirements and career path is vital for students and professionals planning to become financial analysts. Educational Requirements Bachelor’s Degree: A degree in finance, economics, accounting, business administration, or mathematics is usually required. Certifications: Certifications like CFA (Chartered Financial Analyst), FRM (Financial Risk Manager), or CPA (Certified Public Accountant) can boost career prospects. Master’s Degree: An MBA with a focus on finance or investment is highly beneficial for higher-level positions. Career Path The career progression for financial analysts usually follows this path: Junior Financial Analyst / Entry-Level Analyst – Focus on data analysis and reporting. Financial Analyst / Senior Analyst – Take on more complex projects and investment analysis. Finance Manager / Senior Financial Analyst – Oversee teams and manage corporate finances. Director of Finance / VP of Finance – Strategic
In the world of finance, professionals constantly seek credentials that can differentiate them from the crowd and open doors to elite career opportunities. Among these, the CFA designation stands out globally. The CFA is the most respected qualification in finance, recognized by employers, regulators, and industry peers alike. Many finance aspirants wonder why this certification holds unparalleled prestige, and in this blog, we will explore the reasons behind its global reputation, its rigorous curriculum, and the career advantages it offers. By understanding why the CFA is the most respected qualification in finance, candidates can better appreciate its value and commit to the journey with clarity and purpose. Understanding the CFA Designation Before we delve into why the CFA is the most respected qualification in finance, it’s important to understand what the CFA designation entails. The Chartered Financial Analyst (CFA) certification is awarded by the CFA Institute, a globally recognized professional body in investment management and finance. Key aspects of the CFA program include: Global Recognition: The CFA charter is recognized in over 165 countries, making it a truly international credential. Rigorous Curriculum: Covering ethics, investment tools, portfolio management, and wealth planning, the CFA curriculum is both broad and deep. Professional Standards: CFA candidates must adhere to a strict code of ethics and professional conduct, emphasizing integrity in financial decision-making. Understanding these fundamentals sets the stage for appreciating why the CFA is the most respected qualification in finance. The Rigorous Nature of the CFA Program One of the primary reasons why the CFA is the most respected qualification in finance is its unmatched rigor. 1. Multi-Level Examination The CFA program consists of three levels of exams: Level I, Level II, and Level III. Each level tests candidates on different aspects of finance: Level I: Focuses on foundational concepts and investment tools. Level II: Emphasizes asset valuation and complex analysis. Level III: Centers on portfolio management and wealth planning. Passing all three levels requires dedication, consistent effort, and mastery of concepts, which is why professionals who achieve the CFA charter are highly respected. 2. High Failure Rate Historically, CFA exams have a pass rate below 50% for each level. This low pass rate underscores the difficulty and ensures that only highly committed and competent candidates earn the designation. 3. Comprehensive Curriculum The depth and breadth of the curriculum prepare candidates to tackle real-world financial challenges, reinforcing why the CFA is the most respected qualification in finance. Ethical Standards and Professional Integrity Another critical reason why the CFA is the most respected qualification in finance is its emphasis on ethics. 1. Code of Ethics CFA charter holders must follow a strict code of ethics, which includes principles such as honesty, diligence, and transparency. This ethical foundation builds trust among clients and employers, giving CFA professionals a distinct advantage in the competitive finance world. 2. Professional Conduct The CFA Institute enforces standards of professional conduct, ensuring that charterholders uphold the highest levels of integrity in their work. This ethical commitment further reinforces the CFA’s reputation as a credential that combines knowledge with integrity. Global Recognition and Career Opportunities The CFA’s global recognition is another reason it is considered the most respected qualification in finance. 1. International Acceptance From New York to London to Singapore, the CFA designation is respected by employers worldwide. Many top financial institutions consider it a key qualification for roles in investment banking, asset management, research, and corporate finance. 2. Career Advancement Holding a CFA charter opens doors to senior-level positions, including portfolio manager, financial analyst, risk manager, and chief investment officer. Employers recognize the CFA as a mark of competence, commitment, and professionalism. 3. Networking Opportunities The CFA Institute offers a global network of professionals, providing access to conferences, workshops, and local societies. This network is invaluable for career growth, mentorship, and knowledge sharing. Rigorous Work Ethic and Time Commitment The CFA designation is respected not only for its content but also for the dedication required to earn it. 1. Time Commitment Candidates typically spend 300-400 hours per exam level. Balancing work, personal life, and preparation requires exceptional discipline. This intense preparation ensures that CFA charter holders are both knowledgeable and resilient. 2. Continuous Learning Even after obtaining the CFA charter, professionals are expected to engage in continuous learning to stay updated on industry trends. This lifelong commitment to professional growth contributes to the CFA’s esteemed reputation. Why Employers Value the CFA Charter Employers highly value the CFA charter for several reasons: Technical Expertise: CFA charter holders possess deep analytical skills and investment knowledge. Ethical Assurance: Employers can trust charter holders to adhere to high ethical standards. Problem-Solving Abilities: The rigorous exams cultivate critical thinking and strategic decision-making skills. Global Competence: The CFA curriculum equips professionals to operate in international financial markets. These qualities make the CFA a unique and highly respected credential in finance. Testimonials from Finance Professionals Many CFA charterholders highlight the career impact of the designation: John D., Portfolio Manager: “Earning the CFA charter transformed my career. Employers immediately recognized my commitment and expertise, opening doors to roles I never thought possible.” Priya S., Investment Analyst: “The CFA program not only sharpened my technical skills but also strengthened my ethical decision-making. It truly is the most respected qualification in finance.” These testimonials underscore the CFA’s value and its respect across the financial industry. CFA vs Other Finance Certifications While there are multiple finance certifications, such as CPA, FRM, or CAIA, the CFA stands out for its global recognition, ethical emphasis, and comprehensive investment focus. Unlike other credentials that may specialize in one niche, the CFA equips professionals with holistic knowledge across finance, making it the most respected qualification in finance. By following these steps, CFA charter holders can fully harness the respect and opportunities their designation offers. Final Thoughts The CFA is the most respected qualification in finance for multiple reasons: its rigorous curriculum, ethical standards, global recognition, and the dedication required to earn it. Achieving the CFA charter is not just a milestone; it is


















The SCR Exam is a comprehensive, standard-oriented assessment covering fundamental guidelines, methodologies, and frameworks used in anticipating and managing climate risk. It consists of 90 equally weighted multiple-choice questions, including two case studies. Candidates will be allotted four hours to complete the Exam.
After earning the SCR Certificate, you can apply principles of sustainability and climate risk management in current and future roles, giving you a competitive advantage. Passing the Exam demonstrates you possess the knowledge and tools necessary to assess and manage the sustainability and climate risk challenges many industries face.
The Exam is not highly quantitative. It is designed to be accessible to a wide audience. A few questions may require limited multiplication and division, an understanding of ratios or knowledge of measurement units and the magnitude of metrics relevant to specific risk management topics. Some questions may present graphs or tables with quantitative information.
No work experience is required to sit for the Exam.
Currently, the SCR Exam is offered in American English only.
Initial registration for the SCR Certificate program includes the full curriculum in eBook form, a full-length Practice Exam, the fee to sit for the Exam, and issuance of the certificate for successful candidates. Please refer to the fee schedule here.
Yes. Please fill out the Team Registration form to explore how you can elevate your organization's risk management by educating multiple employees at a time.
Candidates can pay for their exam registration via:
Credit Card: GARP accepts MasterCard, Visa, Amex, and Discover.
ePay: GARP accepts Alipay.
Wire: All wire payments will include a USD 50 processing fee added to your invoice. Please reference your GARP ID and Invoice Number when sending your payment. Full instructions can be found at the bottom of your invoice.
ACH: All ACH payments will include a USD 50 processing fee added to your invoice. Please reference your GARP ID and Invoice Number when sending your payment. Full instructions can be found at the bottom of your invoice.
Please refer to this link for a comprehensive list of Pearson VUE exam sites.
The Exam will be administered as an in-person Computer-Based Testing (CBT) Exam at Pearson VUE test sites worldwide.
Registration is when you sign up for an exam by entering your account details and paying the applicable exam fees for a specific exam window. After you register, you need to schedule your exam appointment. During scheduling you select the exact location, date, and time of your exam appointment. If you do not schedule your exam after you register, you will not know when and where to attend the exam.
For complete information on exam dates, registration deadlines, scheduling, and more, please visit our Exam Logistics page.
ReBI notifies candidates if they pass or do not pass the Exam. Candidates who don't pass their Exam, register and don't schedule their Exam, or schedule and don't take the Exam can pay a one-time retake fee of USD 350, during the next two exam cycles only. After two cycles candidates must re-register for the program and pay all applicable fees.
Depending on availability, candidates may reschedule their exam date (from among the dates included in the exam window they registered for) or change their in-person CBT exam site using the Pearson VUE scheduling website, until 48 hours before the start of the scheduled Exam.
If your Exam appointment is canceled, it is likely due to circumstances out of ReBI's control including but not limited to exam site changes, a natural disaster, an evacuation, acts of military, political or government authority, global pandemic, or "Acts of God", ReBI's will make every effort to notify candidates as soon as possible and GARP will help reschedule your exam appointment within the same exam administration window.
Once an exam window closes, GARP scores Exams in a timely fashion. Candidates are notified when their results are available in their GARP candidate portal.
Yes, candidates can enroll in the SCR Certificate program if they are currently registered for or plan to register for the FRM or RAI Program.
Preparation time varies by candidate. GARP estimates an average preparation time of 100-150 hours.
A full-length Practice Exam, the SCR eBook, and access to GARP Learning are included with registration. Candidates will receive an email explaining eBook access after registering.
SCR print books are available for purchase here for USD 300, plus shipping. GARP offers the SCR Study Guide and Learning Objectives document to assist candidates in successfully preparing for the SCR Exam. This study aid is available for free digital download on the GARP website.
Yes. Due to the sizable amount of material covered in the Exam, GARP suggests following a weekly study schedule. Preparing for the Exam at the last minute is strongly discouraged.
The SCR Exam focuses on the knowledge and skills needed to effectively respond to sustainability and climate risk challenges within an organization.
Topics include:
Foundations of Climate Change: What is Climate Change?
Sustainability
Climate Change Risk
Sustainability and Climate Policy, Culture, and Governance
Green and Sustainable Finance: Markets and Instruments
Climate Risk Measurement and Management
Climate Models and Scenario Analysis
Net Zero
Climate and Nature Risk Assessment
Transition Planning and Carbon Reporting
The Exam will be administered as an in-person Computer-Based Testing (CBT) Exam at Pearson VUE test sites worldwide.
Registration is when you sign up for an exam by entering your account details and paying the applicable exam fees for a specific exam window. After you register, you need to schedule your exam appointment. During scheduling you select the exact location, date, and time of your exam appointment. If you do not schedule your exam after you register, you will not know when and where to attend the exam.
GARP strives to maintain our program's best-in-class curriculum and associated study materials. In order to ensure relevance and accuracy, GARP reviews the curriculum every year. Revisions are made and new study materials are released December 1 for the following calendar year.
You must send an email to [email protected] to update your name to match your identification.
Your identification must meet ALL of the following requirements:
Below is a list of possible acceptable forms of identification:
The name associated with the registration must exactly match the name on your identification on exam day. This includes an exact match of the first name, last name, and any middle name or initial.
There are NO exceptions to GARP's Identification Policy. On exam day if you do not present an acceptable form of ID as listed above, you will not be allowed to sit for the Exam.
You must send an email to [email protected] to update your name to match your identification.
Please confirm the name on your GARP Dashboard matches the name on the government issued ID you plan to use on exam day.
The below pictured digital calculator is provided for you on the screen during the Exam.

Candidates must leave their cellular phone outside of the exam room in the designated personal belonging area.
No personal items are allowed in the exam room or environment. Candidates may not bring or wear barrettes, hair clips, headbands, or hairbands. Removable jewelry is not permitted in the exam room. Candidates may not bring any books and/or notes into the exam room for use during the exam session, unless pre-authorized by GARP in advance.
Candidates must store all personal items in a secure area (a locker), as indicated by the proctor, or return personal items to their vehicle. If candidates refuse to store personal items, they will not be allowed to sit for the Exam, and they will lose their registration fee. All electronic devices must be turned off before storing them in a locker.
Candidates may not leave the exam room without proctor approval. If you need a restroom break, you must raise your hand, and wait to be acknowledged by a proctor. No additional time is given if you take a break.
Candidates must store all personal items in a secure area (a locker), as indicated by the proctor, or return personal items to their vehicle. If candidates refuse to store personal items, they will not be allowed to sit for the Exam, and they will lose their registration fee. All electronic devices must be turned off before storing them in a locker.
SCR Certificate holders can advance their climate risk education through the GARP CPD program. Certificate holders must earn 20 CPD credits per cycle to stay current. After completing 20 credits in a 2-year cycle, SCR Certificate holders may download a CPD Acknowledgement of Completion Certificate. While CPD is not mandatory, it is strongly encouraged.
Yes, an electronic certificate of completion and a complimentary digital badge is granted to those who passed the Exam.
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