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Level 6 Financial Risk Management in Banks (FRMB)

Professional qualifications

Level 6 Financial Risk Management in Banks (FRMB)

Risk and compliance have become increasingly important in recent years. Now the Covid-19 pandemic has made them a core part of every function in banking.

Two women in a classroom

About the qualification

Risk management offers more opportunities than ever before and there’s never been greater demand for agile leadership in banking and finance.

Whether you're already working in risk and looking to expand your skillset – or a banking professional looking for a more senior role – this globally recognised qualification will help you advance your career.

You can complete FRMB in just six months, learning to identify, measure and manage a variety of risks. You’ll explore the external economic environment where banks operate and look at how they interact with dynamic and often volatile financial markets. And you’ll examine the corresponding impact on performance, profitability and strategic direction.

This online course is delivered by industry practitioners and will give you practical skills to help you evaluate risk management approaches and become a more agile leader.

While studying with us, you’ll become a Member of The London Institute of Banking & Finance (MLIBF), receiving benefits including careers support and access to professional networking events. 

Your studies will cover

  • Analyse the different sources and types of credit risk
  • Evaluate how credit risk management can be optimised to meet the risk appetite and profitability requirements of a bank and its stakeholders
  • Identify, quantify and evaluate a range of financial market risks faced by banks
  • Evaluate the role and importance of asset liability management
  • Apply and critique a range of techniques used to manage financial market risk
  • Analyse the importance and methods of effectively managing the liquidity position of a bank
How much does it cost? £655 –  includes your study materials and exam entry.
Average time to complete? Six months
Number of units  One
How will I be assessed? Two-hour exam. View the assessment section for further details.

You can take your exam at a test centre or at home with remote invigilation.

What study materials do I get?  As part of your fee, you’ll get:
  • online access to our student portal MyLIBF
  • online access to our virtual library KnowledgeBank
  • live introductory session
  • topic videos and podcasts
  • webinars
  • tutor-led forum
  • online learning activities i.e. self-test questions
  • assessment preparation webinars
  • online student handbook
  • coursework example papers
  • study planner

Your registration also included extracts of 'The Strategy Journey' e-book as an additional resource.

You will be learning on our new VLE Brightspace, click on the logo to find out more.

How will I study? Everything is online, you'll follow a structured timetable.
Regulation  Registered with Ofqual in the Regulated Qualifications Framework (RQF) 

Get up-to-date information relating to Coronavirus.


FRMB consists of one unit.

Unit 1 – Financial Risk Management in Banks (FRMB)

  • Asset and liability management
  • Yield curve, interest rate and liquidity risk
  • Sources of credit, quantifying credit risk and credit risk management
  • Foreign exchange, interest rate, equity, fixed income and commodity risk
  • Use of fixing and option-based derivatives to manage financial market risk
  • Internal techniques to manage financial market risk
  • Applied risk measurement
  • Liquidity risk management and regulations.


You can register for one of the following study sessions throughout the year:

Details Date 
 Registration deadline   24 October 2022 
 Course start date   01 November 2022 
 Exam date   30 March 2023

Details Date 
 Registration deadline   02 May 2023
 Course start date   09 May 2023 
 Exam date   05 October 2023  



For FRMB you will be assessed by a two-hour typed exam.

Once you have registered, the date of your session-based exam will be in your MyLIBF account and on the course website.

You can choose when to take your exam and pick from test centres nationwide or through remote invigilation.

You will have six months from your course start date to complete the unit and sit the exam. Your first exam is included in the registration fee.

Exam and assessment information

When you have successfully completed the qualification, we will post your certificate to you.


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