With the freedom, globalization and innovation of the finance since 1970s, the explosion of the financial industries, the intensity of the competition and the complexity of the environment make the risk environment under which all kinds of financial institutions operate their business more complicated. Improper risk management will bring disasters to the financial institutions and the whole financial system as well. A number of severe financial risk incidents have caused huge losses, even destructing an entity with the history of above 100 years over one night, in both developed and developing countries, which indicates the increasingly importance of financial risk management.

To rapidly accumulate financial risk management knowledge and experiences are the indispensables for the enterprises to face the fierce competition of international financial environments. The major risk managing and auditing departments of the financial institutions have begun to work on strengthening financial risk controls. The demands for financial risk management professionals will be increased significantly.

Enterprises are craving for talents, however, the supply of talents is obviously less than the demand, especially for highly qualified and the experienced financial risk management talents are in shortages. Those shortages of talents directly result the significant raise in salary. The demand for qualified financial risk managers, such as Certified Financial Risk Manager, has clearly and strongly been increasing. The financial industry is a risk-intensive industry; there are exchange rate risk, interest rate risk, accounting risk, market risk, credit risk and many other financial risks. All over the world the financial holding companies, securities companies, investment banks and commercial banks, asset management companies, futures, insurance companies and large enterprise groups have enhanced financial risk controls by the their accounting and auditing departments, so that the demand for financial risk management professionals will dramatically increase in near future.

We need a unified standard to testify the necessary skills and knowledge of financial risk managers, therefore, HKFRMA awards the professional designation known as Certified Financial Risk Manager.