EFFAS Financial Risk Analyst (EFRA)

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The EFFAS Financial Risk Analyst (EFRA)® offers a comprehensive certification that meets the rigorous demands of modern risk management within the financial industry. Addressing both foundational principles and advanced techniques , the programme covers critical areas such as market, credit and asset-liability risk. EFRA candidates develop the essential skills to make well-informed investment decisions and effectively manage financial risks. The curriculum provides detailed training on bond evaluation, core risk metrics like duration and convexity, and credit assessment strategies.

With its strong emphasis on quantitative and analytical expertise, the EFRA programme prepares candidates to confidently tackle the challenges of today’s capital markets.

EFRA – Programme Overview

Why should you follow the EFRA® programme?

The EFFAS Financial Risk Analyst (EFRA)® programme is a comprehensive certification designed to equip participants with in-depth knowledge of risk management, including:

Comprehensive Risk Framework: A clear differentiation between various types of risks, enabling participants to embed these risks within a comprehensive risk management framework that enhances overall organizational resilience.
Risk Evaluation Techniques: In-depth evaluation of credit risk, market risk, and asset-liability risk, utilizing advanced concepts such as sensitivity analysis, value-at-risk (VAR), and stress-testing to assess and mitigate potential threats to financial stability.
Risk Tolerance Understanding: A developed understanding of risk tolerance and its critical implications for decision-making, allowing participants to make informed choices that align with both individual and institutional risk preferences.

This programme equips candidates with advanced knowledge that extends beyond traditional financial qualifications, focusing on critical areas of risk management and control that are essential for success in modern financial environments.

The EFRA® programme is an online training, covering the complete examination syllabus. Training includes access to pre-recorded video lectures, lecture notes, practice exercises and multiple-choice questions. The training programme’s estimated learning time is 60 hours of self-study.

Who should attend?

With its focus on risk management and hedging capabilities, EFFAS Financial Risk Analyst® is especially aimed at asset managers with asset management companies, pensions funds, life insurance companies, wealth management companies; financial researchers; corporate finance specialists and treasurers; financial journalists; professionals involved in legislation / regulation of the above-mentioned fields as well as professionals already working in the investment sector – but looking for an advanced qualification.

Practical information

Registration
Once you have completed the registration form (or via the 'Apply now' button at the top of this page) you will get an invoice. Once we have received your payment we will complete your registration and give you access to the learning platform for 9 months.

Exams
EFRA Common Exam sessions are organized by EFFAS two times a year. The exam has a duration of 240 minutes. The exams are online only.

Upcoming exams will be organized on:

28 November 2025 (registration from 21/09/2025 until 21/10/2025)

Price & Certification
The price for the EFRA® programme is 1 800 EUR (VAT incl.), which includes 9 months access to the EFFAS learning management system and the online exam.

Candidates who pass the EFFAS common exam receive the EFRA® Diploma issued by EFFAS, an international certification highly valued by employers.

Companies
Companies can purchase a license for the scorm files to implement in their own learning management system. Please contact us if you would like to receive more information or if you would like to register multiple employees at the same time.

Questions?

If you have any questions related to the program or registration procedure, we can help you.