Professional Risk Managers’ Handbook and Financial Risk Manager Handbook by PRM Material

Teacher

Chairman

About Course

One book in the series,’mathematical foundations of risk measurements’ was a godsend to me. Topics such as calculus, matrix algebra, numerical methods for option valuation are presented in depth and with the aid of excel spreadsheet displays and instructions. This is non-trivial math (as opposed to CFA); even true quants will verify that for you (check the Wilmott forums for comments). Non-trivial explanations of forecasting volatility, VaR, expected losses on a credit portfolio etc. If you want to get into risk and quant generally, this is the most accessible series of books I’ve seen capable of taking you to a decent level. The fact you can get a designation out of it is a bonus.

BTW if you’re tossing up between doing GARP’s FRM and PREMIA’s PRM, PRM is newer, presently still has a smaller membership base, is growing faster, and is well recognised in the UK but seems to still lag FRM in North America for recognition. The PRM material will be far better for your education; FRM takes a more CFA approach – it doesn’t equip you so well technically