Definition of Chartered Financial Risk Engineer (CFRE)

Chartered Financial Risk Engineer (CFRE) is a professional designation for financial risk managers and risk quants. Described as a "finance hacker school," the program is designed to help professionals develop software coding, modeling design, financial securities analysis, and risk management skills. The designation is award by the New York Institute of Finance.

Key Takeaways

  • The Chartered Financial Risk Engineer (CFRE) is a designation for professionals to enhance skills in software coding, modeling design, and financial securities analysis, and risk management.
  • The CFRE is awarded by the New York Institute of Finance, which was founded by the New York Stock Exchange in 1922.
  • Tuition costs $27,950. Courses are given in person, online or virtually.
  • The institute claims that individuals awarded the CFRE enhance their career opportunities, with salaries starting at $75,000 annually.

Understanding Chartered Financial Risk Engineer (CFRE)

The New York Institute of Finance was founded by the New York Stock Exchange in 1922. The institute provides continuing education and training to more than 50,000 finance professionals annually in more than 125 countries.

The Chartered Financial Risk Engineer (CFRE) is one of three professional designations offered by the institute. The CFRE qualification is geared toward finance professionals with an aptitude for quantitative disciplines (mathematics, sciences, engineering, and economics). Candidates are required to complete courses on fixed income, derivatives, risk management, and programming (Python, R Programming, and VBA).

There is no entry exam or coursework required before you can enroll in the CFRE program. However, candidates are advised to enroll in the institute's Quantitative Methods for Finance Professionals Certificate.

Tuition costs $27,950 and covers all course materials and exam. Supporting textbooks and living expenses are not covered. The coursework can be completed in up to 12 months. Classes are given in person, online or virtually.

Individuals awarded the CFRE designation enhance their career opportunities by developing skills in software coding, modeling design, financial securities analysis, and risk management. The institute claims entry level salaries start at $75,000 annually and can rise to more than $200,000 with bonuses.

It is important to note that the CFRE program requires no prior experience, and contends with university graduate programs in financial risk management. When compared to the full-time university graduate programs, the CFRE is positioned as more cost and time effective.