Is FRM worth pursuing for a Developer / Tester?

[Brummie]

As some of you might already be one, I just wanted to know, if it is worth investing time & effort for FRM (Financial Risk Manager), if you are a developer / tester?

I am technically sound but my Finance domain expertise is almost zero. I was wondering if it is really worth doing FRM or CFA 1 to enhance my chances to continue working in Finance Sector? I understand the exams are bit tough.

[BlasterBates]

If you are working in the sector it is enough to read a book, as long as you understand it.

I've had quite a few interviews based on "I read a book". That's all the analysts do, they build models based on what they read in a text book, a lot of them don't have a formal qualification in finance, they've picked it up on the job.

However having said that, I would say a formal qualification is always better, I personally do have a formal qualification in accounting and finance, but the interviews were based on what I read in the book and not the basic stuff I learned years ago.