How Will the ERP Designation Help Me to Advance My Professional Career?

by Admin

in Energy Risk Professional Jobs

A common question I get in emails is this one: “I already work in the energy industry. What will the ERP (Energy Risk Professional) designation do for me to advance my career?”

This is an obvious question often heard from energy marketers, energy commodity traders, engineers, and energy risk managers. The ERP designation is not widely known yet, but this may change soon. While the ERP (short for “Energy Risk Professional”) is relatively new, it stands on solid footing endorsed by GARP (the Global Association of Risk Professionals) and API (the American Petroleum Institute). There are approximately 500 ERP charterholders so far (as of 2010), and their number is expected to grow very quickly. The pass rate on the ERP exam has been about 35% in 2010, so this is definitely not a designation that you simply buy by enrolling for the exam. The ERP designation can be gained by passing one exam, held in May and November each year, but this may be amended in the future, just as has been the case lately with the FRM designation (short for Financial Risk Manager, also by GARP), which now spans over two exams. The time to gain the ERP designation is still relatively short with manageable effort, for the time being.

Having passed the ERP exam in the first go, I can say that the material is not too difficult. You should, however, take your exam preparation seriously: Start at least six months before the exam with the required reading material, and finish reading and summarizing the material at least two months prior to the exam, so you have ample time to review all the study materials and take practice exams.

I definitely think the ERP designation will add value to your resume if you work in the energy industry. Even if you work in related financial fields, I would advise you to consider taking the exam. The effort is not as huge as for other designations such as the CFA, CAIA, or FRM, but you will still get an endorsement from GARP and API. If you can show to prospective employers that you are willing to improve your skills, this always sends a positive signal that will differentiate you from the herd. Employers rewards achievers, so be prepared for an improvement of your professional situation upon getting any professional designation.

If you have made the decision to enroll for the ERP exam, I applaud you. This is your first step to excellence in the growing field of energy risk management. I wish you all the best for your exam preparation on the way to becoming an Energy Risk Professional!

If you liked this article, you may also enjoy the following related posts:

  1. Should You Get The ERP (Energy Risk Professional)?
  2. Energy Risk Professional Salary

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