Financial Risk Manager (FRM(R)) Program Reaches New Milestone

    Double digit record growth reaffirms the global recognition and
    acceptance of the FRM designation

    NEW YORK and LONDON, Oct. 18 /CNW/ -- The Financial Risk Manager (FRM(R))
Program reached an all-time high in candidate registrations in 2007 with
10,135, representing a 25% increase from the 2006 total of 8,077, the Global
Association of Risk Professionals (GARP: ) announced today.
    "With the increasing complexity of financial instruments and trading
strategies, the demand for risk management skills is growing quickly.  It is
gratifying for GARP and the FRM Committee that the FRM exam is chosen by so
many individuals to demonstrate their command of risk management practices,
concepts and theories," states Dr. Rene Stulz, Chairman of the FRM Committee
and member of the GARP Board of Trustees. "They understand that the FRM
Committee has high standards and that they will be rewarded professionally for
meeting them."
    Highly sought after, the FRM designation is gaining momentum annually. In
fact, the FRM program has experienced a compounded annual growth rate of 22%
over the last 6 years, higher than any other financial certification program
in any 6-year period in history.  The FRM exam was first administered in 1997
with only 108 registrants and 7 testing locations. Now there are 10,135
candidates registered in 73 testing locations for this year's FRM examination
to be held on November 17th.
    The FRM program has also seen an increase in employers encouraging their
employees to obtain the FRM designation as well as hiring managers requiring
it for senior level jobs. Companies and organizations with 5 or more FRM
registrants grew from only 105 in 2003 to 335 in 2007.
    "The FRM designation is proving year after year to be a valuable
credential to employers at commercial and investment banks, insurance firms,
brokerage firms, corporations, consulting firms, asset management firms,
regulatory bodies, academic institutions, corporate treasury operations and
software vendors worldwide" said Richard Apostolik, GARP President and CEO.
"Based on its growth, earning the FRM designation has become the standard
financial risk managers must meet in order to objectively demonstrate
competence in the profession of financial risk management.  We see more and
more established firms such as KPMG, Morgan Stanley, Genworth Financial and NY
Life requesting that their candidates for senior level risk manager positions
have the FRM."

    About GARP

    The Global Association of Risk Professionals (GARP) is a not-for-profit
independent association of over 67,000 risk management practitioners and
researchers representing banks, investment management firms, government
agencies, regulatory bodies, academic institutions and corporations from more
than 167 countries worldwide. It also administers the Financial Risk Manager
(FRM(R)) examination, the world's premier certification for the financial risk
professional. GARP's mission is to be the leading professional association for
risk managers, managed by and for its members dedicated to the advancement of
the risk profession through education, training an the promotion of best
practices globally.
    If you would like more information about this topic, or to schedule an
interview, please call Greg Winsper at +1 201-719-7240 or e-mail Greg at

    Contact: Greg Winsper
    Global Association of Risk Professionals
    111 Town Square Place
    Suite 1215
    Jersey City, NJ 07310
    Phone  201.719.7240
    Fax    201.222.5022

For further information:

For further information: Greg Winsper of Global Association of Risk 
Professionals, +1-201-719-7240, or fax, +1-201-222-5022, Web Site:

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